Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (b)
1,207,252
11,662,059
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (b)
121,279
893,826
Fidelity Series Emerging Markets Debt Fund (b)
1,231,499
9,728,843
Fidelity Series Emerging Markets Debt Local Currency Fund (b)
334,080
2,856,381
Fidelity Series Floating Rate High Income Fund (b)
206,612
1,859,505
Fidelity Series High Income Fund (b)
1,224,520
10,543,119
Fidelity Series International Credit Fund (b)
89,434
737,830
Fidelity Series International Developed Markets Bond Index Fund (b)
2,040,443
17,711,042
Fidelity Series Long-Term Treasury Bond Index Fund (b)
13,093,067
69,524,188
Fidelity Series Real Estate Income Fund (b)
190,951
1,875,138
TOTAL BOND FUNDS
(Cost $155,036,242)
127,391,931
Domestic Equity Funds - 54.1%
Shares
Value ($)
Fidelity Advisor Series Equity Growth Fund (b)
9,773,886
155,502,529
Fidelity Advisor Series Growth Opportunities Fund (b)
6,601,737
109,258,753
Fidelity Advisor Series Small Cap Fund (b)
2,887,062
32,363,966
Fidelity Series All-Sector Equity Fund (b)
5,616,907
70,323,679
Fidelity Series Commodity Strategy Fund (b)
45,020
3,878,950
Fidelity Series Intrinsic Opportunities Fund (b)
818,264
8,698,148
Fidelity Series Large Cap Stock Fund (b)
9,114,849
209,185,793
Fidelity Series Large Cap Value Index Fund (b)
1,263,105
20,601,250
Fidelity Series Opportunistic Insights Fund (b)
5,536,344
133,924,153
Fidelity Series Small Cap Core Fund (b)
521,741
6,370,454
Fidelity Series Small Cap Discovery Fund (b)
811,088
8,824,642
Fidelity Series Small Cap Opportunities Fund (b)
2,895,376
42,359,350
Fidelity Series Stock Selector Large Cap Value Fund (b)
8,898,058
121,903,391
Fidelity Series Value Discovery Fund (b)
8,077,507
125,201,360
TOTAL DOMESTIC EQUITY FUNDS
(Cost $747,188,318)
1,048,396,418
International Equity Funds - 38.9%
Shares
Value ($)
Fidelity Series Canada Fund (b)
3,610,180
56,607,619
Fidelity Series Emerging Markets Fund (b)
5,350,311
46,440,702
Fidelity Series Emerging Markets Opportunities Fund (b)
10,399,403
190,517,058
Fidelity Series International Growth Fund (b)
8,288,039
144,460,518
Fidelity Series International Small Cap Fund (b)
1,633,220
26,458,157
Fidelity Series International Value Fund (b)
12,193,247
145,343,499
Fidelity Series Overseas Fund (b)
10,755,955
144,560,029
TOTAL INTERNATIONAL EQUITY FUNDS
(Cost $608,868,571)
754,387,582
U.S. Treasury Obligations - 0.3%
Yield (%) (c)
Principal
Amount (a)
Value ($)
US Treasury Bills 0% 1/2/2025 (d)
4.52 to 4.55
410,000
410,000
US Treasury Bills 0% 1/23/2025 (d)
4.55
1,960,000
1,955,147
US Treasury Bills 0% 1/30/2025 (d)
4.45
2,200,000
2,192,762
US Treasury Bills 0% 1/9/2025 (d)
4.58
110,000
109,910
US Treasury Bills 0% 2/27/2025 (d)
4.45
80,000
79,475
US Treasury Bills 0% 2/6/2025 (d)
4.47
30,000
29,876
US Treasury Bills 0% 3/27/2025 (d)
4.28
410,000
405,992
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $5,181,868)
5,183,162
Money Market Funds - 0.1%
Yield (%)
Shares
Value ($)
Fidelity Cash Central Fund (e)
(Cost $1,626,880)
4.36
1,626,555
1,626,880
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $1,517,901,879)
1,936,985,973
NET OTHER ASSETS (LIABILITIES) - 0.0%
339,952
NET ASSETS - 100.0%
1,937,325,925
Futures Contracts
Number
of contracts
Expiration
Date
Notional
Amount ($)
Value ($)
Unrealized
Appreciation/
(Depreciation) ($)
Purchased
Equity Contracts
ICE MSCI EAFE Index Contracts (United States)
131
Mar 2025
14,852,125
(490,949)
(490,949)
ICE MSCI Emerging Markets Index Contracts (United States)
549
Mar 2025
29,475,810
(1,021,438)
(1,021,438)
TOTAL EQUITY CONTRACTS
(1,512,387)
Interest Rate Contracts
CBOT 10-Year U.S. Treasury Note Contracts (United States)
317
Mar 2025
34,473,750
(292,692)
(292,692)
CBOT Long Term U.S. Treasury Bond Contracts (United States)
389
Mar 2025
44,285,219
(1,386,080)
(1,386,080)
TOTAL INTEREST RATE CONTRACTS
(1,678,772)
TOTAL PURCHASED
(3,191,159)
Sold
Equity Contracts
CME E-mini S&P 500 Index Contracts (United States)
120
Mar 2025
35,614,500
1,079,011
1,079,011
TOTAL FUTURES CONTRACTS
(2,112,148)
The notional amount of futures purchased as a percentage of Net Assets is 6.4%
The notional amount of futures sold as a percentage of Net Assets is 1.8%
Legend
(a)
Amount is stated in United States dollars unless otherwise noted.
(b)
Affiliated Fund
(c)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
(d)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $5,146,162.
(e)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
2,064,823
41,992,846
42,430,756
110,794
(33)
-
1,626,880
1,626,555
0.0%
Total
2,064,823
41,992,846
42,430,756
110,794
(33)
-
1,626,880
1,626,555
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Shares,
end
of period
Fidelity Advisor Series Equity Growth Fund
155,715,310
50,323,638
33,867,952
35,786,891
3,585,448
(20,253,915)
155,502,529
9,773,886
Fidelity Advisor Series Growth Opportunities Fund
109,748,161
20,071,642
33,049,672
9,339,671
4,013,406
8,475,216
109,258,753
6,601,737
Fidelity Advisor Series Small Cap Fund
53,654,620
9,883,505
25,643,170
8,340,362
2,926,809
(8,457,798)
32,363,966
2,887,062
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund
953,957
13,858,325
3,106,204
237,495
6,251
(50,270)
11,662,059
1,207,252
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund
990,271
60,953
130,374
32,141
(21,726)
(5,298)
893,826
121,279
Fidelity Series All-Sector Equity Fund
51,546,174
25,755,003
9,554,727
4,616,033
706,713
1,870,516
70,323,679
5,616,907
Fidelity Series Canada Fund
56,691,036
7,168,797
8,549,934
1,692,533
881,639
416,081
56,607,619
3,610,180
Fidelity Series Commodity Strategy Fund
13,424,469
4,519,593
13,386,068
478,098
(7,472,846)
6,793,802
3,878,950
45,020
Fidelity Series Emerging Markets Debt Fund
10,251,083
812,017
1,391,712
420,531
(52,987)
110,442
9,728,843
1,231,499
Fidelity Series Emerging Markets Debt Local Currency Fund
3,263,831
212,730
481,658
132,022
(35,381)
(103,141)
2,856,381
334,080
Fidelity Series Emerging Markets Fund
53,342,213
3,360,487
10,033,744
1,297,982
67,320
(295,574)
46,440,702
5,350,311
Fidelity Series Emerging Markets Opportunities Fund
215,364,605
13,844,950
45,119,793
3,908,204
1,890,399
4,536,897
190,517,058
10,399,403
Fidelity Series Floating Rate High Income Fund
1,942,833
188,471
260,944
130,858
1,813
(12,668)
1,859,505
206,612
Fidelity Series Government Money Market Fund
29,135
1,818,752
1,847,887
20,618
-
-
-
-
Fidelity Series High Income Fund
10,471,045
1,558,463
1,660,031
528,034
(27,398)
201,040
10,543,119
1,224,520
Fidelity Series International Credit Fund
715,661
34,860
20,417
34,861
1,265
6,461
737,830
89,434
Fidelity Series International Developed Markets Bond Index Fund
-
18,799,402
646,444
300,873
(2,944)
(438,972)
17,711,042
2,040,443
Fidelity Series International Growth Fund
161,159,363
17,622,141
24,658,857
5,986,121
2,588,396
(12,250,525)
144,460,518
8,288,039
Fidelity Series International Small Cap Fund
30,160,398
3,377,266
5,078,075
2,535,700
800,240
(2,801,672)
26,458,157
1,633,220
Fidelity Series International Value Fund
162,488,728
15,551,805
24,987,601
6,559,836
3,428,524
(11,137,957)
145,343,499
12,193,247
Fidelity Series Intrinsic Opportunities Fund
-
8,857,617
-
11,955
-
(159,469)
8,698,148
818,264
Fidelity Series Investment Grade Bond Fund
-
3,453,801
3,472,140
9,395
18,339
-
-
-
Fidelity Series Large Cap Stock Fund
209,162,167
26,887,774
37,220,323
16,572,143
5,301,589
5,054,586
209,185,793
9,114,849
Fidelity Series Large Cap Value Index Fund
20,577,590
3,552,760
3,996,656
606,519
441,511
26,045
20,601,250
1,263,105
Fidelity Series Long-Term Treasury Bond Index Fund
97,544,507
7,684,029
31,443,661
2,201,290
(11,752,300)
7,491,613
69,524,188
13,093,067
Fidelity Series Opportunistic Insights Fund
123,422,217
27,929,359
26,994,898
8,555,233
2,629,784
6,937,691
133,924,153
5,536,344
Fidelity Series Overseas Fund
161,586,341
12,510,317
22,883,836
3,226,717
2,755,763
(9,408,556)
144,560,029
10,755,955
Fidelity Series Real Estate Income Fund
1,948,548
157,628
261,286
99,999
(3,286)
33,534
1,875,138
190,951
Fidelity Series Short-Term Credit Fund
109,076
(1)
108,522
125
2,459
(3,012)
-
-
Fidelity Series Small Cap Core Fund
6,284,337
1,837,050
1,915,476
85,129
144,241
20,302
6,370,454
521,741
Fidelity Series Small Cap Discovery Fund
-
9,026,868
-
11,341
-
(202,226)
8,824,642
811,088
Fidelity Series Small Cap Opportunities Fund
67,952,477
10,581,224
34,123,683
5,591,693
5,022,789
(7,073,457)
42,359,350
2,895,376
Fidelity Series Stock Selector Large Cap Value Fund
121,814,847
27,190,828
25,070,348
11,343,715
2,688,084
(4,720,020)
121,903,391
8,898,058
Fidelity Series Value Discovery Fund
124,608,618
28,220,261
25,566,088
4,919,447
1,915,119
(3,976,550)
125,201,360
8,077,507
2,026,923,618
376,712,315
456,532,181
135,613,565
22,449,033
(39,376,854)
1,930,175,931
134,830,436
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Interest Rate Risk - Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
The Fund used futures contracts to manage its exposure to the bond market and fluctuations in interest rates.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
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