Quarterly Holdings Report
for
Fidelity® Small-Mid Multifactor ETF
(formerly Fidelity® Small-Mid Factor ETF)
October 31, 2020
SFE-QTLY-1220
1.9892236.101
Schedule of Investments October 31, 2020 (Unaudited)
Showing Percentage of Net Assets
Common Stocks – 99.9% | ||
Shares | Value | |
COMMUNICATION SERVICES – 3.8% | ||
Diversified Telecommunication Services – 0.4% | ||
Cogent Communications Holdings, Inc. | 410 | $ 22,878 |
Consolidated Communications Holdings, Inc. | 2,037 | 9,513 |
GCI Liberty, Inc. Class A (a) | 721 | 58,567 |
90,958 | ||
Entertainment – 0.3% | ||
Sciplay Corp. Class A (a) | 945 | 12,616 |
Zynga, Inc. Class A (a) | 6,953 | 62,507 |
75,123 | ||
Interactive Media & Services – 1.1% | ||
Match Group, Inc. (a) | 1,385 | 161,740 |
Zillow Group, Inc. Class C (a) | 1,211 | 107,319 |
269,059 | ||
Media – 1.8% | ||
AMC Networks, Inc. Class A (a) | 770 | 16,362 |
Cable One, Inc. | 38 | 65,811 |
John Wiley & Sons, Inc. Class A | 639 | 19,783 |
MSG Networks, Inc. Class A (a) | 1,502 | 13,428 |
National CineMedia, Inc. | 4,676 | 9,282 |
News Corp. Class A | 3,975 | 52,192 |
Nexstar Media Group, Inc. Class A | 411 | 33,866 |
Scholastic Corp. | 688 | 13,595 |
Sirius XM Holdings, Inc. | 10,215 | 58,532 |
TechTarget, Inc. (a) | 445 | 19,491 |
TEGNA, Inc. | 2,390 | 28,752 |
The Interpublic Group of Cos., Inc. | 2,998 | 54,234 |
The New York Times Co. Class A | 1,132 | 44,895 |
430,223 | ||
Wireless Telecommunication Services – 0.2% | ||
Shenandoah Telecommunications Co. | 515 | 22,464 |
Telephone & Data Systems, Inc. | 1,238 | 21,046 |
United States Cellular Corp. (a) | 506 | 14,735 |
58,245 | ||
TOTAL COMMUNICATION SERVICES | 923,608 | |
CONSUMER DISCRETIONARY – 13.9% | ||
Auto Components – 1.6% | ||
Autoliv, Inc. | 766 | 58,063 |
BorgWarner, Inc. | 1,759 | 61,530 |
Dorman Products, Inc. (a) | 417 | 37,225 |
Gentex Corp. | 2,198 | 60,819 |
Gentherm, Inc. (a) | 679 | 31,431 |
LCI Industries | 315 | 34,543 |
Lear Corp. | 504 | 60,888 |
Standard Motor Products, Inc. | 561 | 25,694 |
370,193 | ||
Automobiles – 0.5% | ||
Harley-Davidson, Inc. | 1,700 | 55,896 |
Thor Industries, Inc. | 513 | 43,389 |
| ||
Shares | Value | |
Winnebago Industries, Inc. | 565 | $ 26,527 |
125,812 | ||
Distributors – 0.4% | ||
Pool Corp. | 299 | 104,599 |
Diversified Consumer Services – 1.9% | ||
Adtalem Global Education, Inc. (a) | 881 | 20,651 |
American Public Education, Inc. (a) | 775 | 21,909 |
Bright Horizons Family Solutions, Inc. (a) | 510 | 80,605 |
Chegg, Inc. (a) | 938 | 68,887 |
Collectors Universe, Inc. | 550 | 30,212 |
Frontdoor, Inc. (a) | 960 | 38,035 |
Graham Holdings Co. Class B | 75 | 28,526 |
Grand Canyon Education, Inc. (a) | 478 | 37,461 |
K12, Inc. (a) | 643 | 15,348 |
Perdoceo Education Corp. (a) | 1,850 | 20,887 |
Service Corp. International | 1,498 | 69,372 |
Strategic Education, Inc. | 302 | 25,084 |
456,977 | ||
Hotels, Restaurants & Leisure – 2.2% | ||
Choice Hotels International, Inc. | 423 | 36,949 |
Churchill Downs, Inc. | 336 | 50,114 |
Cracker Barrel Old Country Store, Inc. | 319 | 36,309 |
Dunkin' Brands Group, Inc. | 785 | 78,272 |
Extended Stay America, Inc. | 2,662 | 30,214 |
Hilton Grand Vacations, Inc. (a) | 1,456 | 29,994 |
Hyatt Hotels Corp. Class A | 618 | 34,076 |
Jack in the Box, Inc. | 380 | 30,423 |
Papa John's International, Inc. | 340 | 26,044 |
Planet Fitness, Inc. Class A (a) | 873 | 51,743 |
Texas Roadhouse, Inc. | 726 | 50,842 |
The Wendy's Co. | 1,980 | 43,263 |
Wingstop, Inc. | 297 | 34,550 |
532,793 | ||
Household Durables – 2.1% | ||
Cavco Industries, Inc. (a) | 150 | 25,821 |
Helen of Troy Ltd. (a) | 251 | 47,590 |
Installed Building Products, Inc. (a) | 366 | 33,138 |
KB Home | 1,094 | 35,281 |
La-Z-Boy, Inc. | 948 | 32,450 |
Leggett & Platt, Inc. | 1,314 | 54,833 |
Meritage Homes Corp. (a) | 411 | 35,794 |
Mohawk Industries, Inc. (a) | 589 | 60,779 |
Taylor Morrison Home Corp. (a) | 1,636 | 35,338 |
Toll Brothers, Inc. | 1,209 | 51,116 |
TopBuild Corp. (a) | 344 | 52,704 |
TRI Pointe Group, Inc. (a) | 1,979 | 32,515 |
497,359 | ||
Internet & Direct Marketing Retail – 1.0% | ||
Chewy, Inc. Class A (a) | 681 | 41,949 |
Etsy, Inc. (a) | 861 | 104,689 |
PetMed Express, Inc. | 765 | 22,629 |
Qurate Retail, Inc. Class A | 6,108 | 41,351 |
2 |
Common Stocks – continued | ||
Shares | Value | |
CONSUMER DISCRETIONARY – continued | ||
Internet & Direct Marketing Retail – continued | ||
Stamps.com, Inc. (a) | 174 | $ 38,844 |
249,462 | ||
Leisure Products – 0.6% | ||
Acushnet Holdings Corp. | 792 | 27,031 |
American Outdoor Brands, Inc. (a) | 277 | 4,191 |
Johnson Outdoors, Inc. Class A | 270 | 23,579 |
Malibu Boats, Inc. Class A (a) | 472 | 23,992 |
Smith & Wesson Brands, Inc. | 1,111 | 18,432 |
Sturm Ruger & Co., Inc. | 334 | 22,331 |
Vista Outdoor, Inc. (a) | 1,346 | 26,610 |
146,166 | ||
Multiline Retail – 0.3% | ||
Big Lots, Inc. | 685 | 32,606 |
Ollie's Bargain Outlet Holdings, Inc. (a) | 534 | 46,506 |
79,112 | ||
Specialty Retail – 2.2% | ||
Advance Auto Parts, Inc. | 545 | 80,268 |
Asbury Automotive Group, Inc. (a) | 310 | 31,924 |
AutoNation, Inc. (a) | 723 | 41,016 |
Haverty Furniture Companies, Inc. | 1,493 | 37,355 |
Lithia Motors, Inc. Class A | 216 | 49,587 |
MarineMax, Inc. (a) | 808 | 24,224 |
Murphy USA, Inc. (a) | 310 | 37,910 |
Rent-A-Center, Inc. | 927 | 28,644 |
Sally Beauty Holdings, Inc. (a) | 2,296 | 19,217 |
Sportsman's Warehouse Holdings, Inc. (a) | 1,450 | 18,879 |
The Buckle, Inc. | 1,416 | 33,927 |
The ODP Corp. | 1,403 | 27,358 |
Williams-Sonoma, Inc. | 689 | 62,844 |
Winmark Corp. | 138 | 23,379 |
516,532 | ||
Textiles, Apparel & Luxury Goods – 1.1% | ||
Carter's, Inc. | 521 | 42,435 |
Columbia Sportswear Co. | 442 | 32,969 |
Deckers Outdoor Corp. (a) | 265 | 67,143 |
Kontoor Brands, Inc. (a) | 1,284 | 42,244 |
Skechers U.S.A., Inc. Class A (a) | 1,523 | 48,294 |
Steven Madden Ltd. | 1,408 | 33,806 |
266,891 | ||
TOTAL CONSUMER DISCRETIONARY | 3,345,896 | |
CONSUMER STAPLES – 3.6% | ||
Beverages – 0.8% | ||
Keurig Dr Pepper, Inc. | 2,723 | 73,249 |
National Beverage Corp. (a) | 408 | 31,942 |
The Boston Beer Co., Inc. Class A (a) | 83 | 86,252 |
191,443 | ||
Food & Staples Retailing – 0.6% | ||
BJ's Wholesale Club Holdings, Inc. (a) | 1,245 | 47,671 |
| ||
Shares | Value | |
Ingles Markets, Inc. Class A | 612 | $ 21,947 |
SpartanNash Co. | 1,208 | 22,239 |
Sprouts Farmers Market, Inc. (a) | 1,564 | 29,794 |
Weis Markets, Inc. | 537 | 24,385 |
146,036 | ||
Food Products – 1.4% | ||
Campbell Soup Co. | 1,434 | 66,925 |
Darling Ingredients, Inc. (a) | 1,702 | 73,186 |
Flowers Foods, Inc. | 2,051 | 48,363 |
Ingredion, Inc. | 673 | 47,709 |
John B Sanfilippo & Son, Inc. | 300 | 21,828 |
Lancaster Colony Corp. | 251 | 41,701 |
Tootsie Roll Industries, Inc. | 796 | 23,784 |
323,496 | ||
Household Products – 0.3% | ||
Central Garden and Pet Co. Class A (a) | 841 | 29,763 |
WD-40 Co. | 191 | 46,486 |
76,249 | ||
Personal Products – 0.4% | ||
Edgewell Personal Care Co. (a) | 1,072 | 28,108 |
Herbalife Nutrition Ltd. (a) | 961 | 43,379 |
USANA Health Sciences, Inc. (a) | 331 | 25,040 |
96,527 | ||
Tobacco – 0.1% | ||
Vector Group Ltd. | 3,073 | 28,241 |
TOTAL CONSUMER STAPLES | 861,992 | |
ENERGY – 2.1% | ||
Energy Equipment & Services – 0.3% | ||
Cactus, Inc. Class A | 1,485 | 25,245 |
National Oilwell Varco, Inc. | 4,704 | 39,514 |
Solaris Oilfield Infrastructure, Inc. Class A | 3,960 | 23,483 |
88,242 | ||
Oil, Gas & Consumable Fuels – 1.8% | ||
Ardmore Shipping Corp. | 7,510 | 21,028 |
Cabot Oil & Gas Corp. | 3,825 | 68,047 |
CNX Resources Corp. (a) | 3,838 | 37,229 |
Diamond S Shipping, Inc. (a) | 3,625 | 20,517 |
EQT Corp. | 3,279 | 49,644 |
Falcon Minerals Corp. | 10,236 | 18,834 |
HollyFrontier Corp. | 2,042 | 37,797 |
International Seaways, Inc. | 1,801 | 24,386 |
Renewable Energy Group, Inc. (a) | 1,114 | 62,830 |
REX American Resources Corp. (a) | 466 | 33,873 |
Teekay Tankers Ltd. Class A (a) | 2,018 | 19,030 |
World Fuel Services Corp. | 1,565 | 32,943 |
426,158 | ||
TOTAL ENERGY | 514,400 |
3 |
Schedule of Investments (Unaudited)–continued
Common Stocks – continued | ||
Shares | Value | |
FINANCIALS – 12.8% | ||
Banks – 3.6% | ||
Associated Banc-Corp. | 2,734 | $ 37,428 |
Bridge Bancorp, Inc. | 1,295 | 25,304 |
Camden National Corp. | 846 | 27,047 |
Cathay General Bancorp | 1,408 | 33,130 |
City Holding Co. | 471 | 28,463 |
Commerce Bancshares, Inc. | 1,003 | 62,437 |
Community Trust Bancorp, Inc. | 836 | 26,602 |
Eagle Bancorp, Inc. | 991 | 29,651 |
First Citizens BancShares, Inc. Class A | 104 | 48,121 |
First Foundation, Inc. | 1,757 | 26,127 |
Fulton Financial Corp. | 3,414 | 37,520 |
Hilltop Holdings, Inc. | 1,604 | 36,587 |
International Bancshares Corp. | 1,071 | 29,645 |
Lakeland Bancorp, Inc. | 2,548 | 28,359 |
Lakeland Financial Corp. | 657 | 33,592 |
People's United Financial, Inc. | 4,720 | 50,362 |
Popular, Inc. | 1,188 | 50,134 |
Preferred Bank | 713 | 24,121 |
QCR Holdings, Inc. | 855 | 26,531 |
ServisFirst Bancshares, Inc. | 925 | 34,132 |
Signature Bank | 546 | 44,084 |
Simmons First National Corp. Class A | 2,043 | 34,711 |
WesBanco, Inc. | 1,512 | 36,726 |
Western Alliance Bancorp | 1,220 | 50,264 |
861,078 | ||
Capital Markets – 3.7% | ||
Affiliated Managers Group, Inc. | 618 | 46,579 |
Artisan Partners Asset Management, Inc. Class A | 958 | 38,377 |
Brightsphere Investment Group, Inc. | 2,098 | 28,952 |
Cohen & Steers, Inc. | 527 | 29,675 |
Diamond Hill Investment Group, Inc. | 223 | 30,538 |
Eaton Vance Corp. | 1,313 | 78,504 |
Federated Hermes, Inc. | 1,507 | 36,017 |
Franklin Resources, Inc. | 2,725 | 51,094 |
Hamilton Lane, Inc. Class A | 500 | 34,850 |
Houlihan Lokey, Inc. | 711 | 44,580 |
Interactive Brokers Group, Inc. Class A | 921 | 43,812 |
Janus Henderson Group PLC | 2,041 | 49,596 |
LPL Financial Holdings, Inc. | 754 | 60,267 |
Morningstar, Inc. | 268 | 51,022 |
PJT Partners, Inc. Class A | 553 | 37,416 |
SEI Investments Co. | 1,187 | 58,341 |
StoneX Group, Inc. (a) | 512 | 27,126 |
Tradeweb Markets, Inc. Class A | 904 | 49,250 |
Victory Capital Holdings, Inc. Class A | 1,397 | 25,621 |
Virtu Financial, Inc. Class A | 1,423 | 30,424 |
Waddell & Reed Financial, Inc. Class A | 1,999 | 30,685 |
882,726 |
| ||
Shares | Value | |
Consumer Finance – 0.4% | ||
Credit Acceptance Corp. (a) | 124 | $ 36,967 |
Encore Capital Group, Inc. (a) | 675 | 21,553 |
Green Dot Corp. Class A (a) | 722 | 38,497 |
97,017 | ||
Diversified Financial Services – 0.4% | ||
Cannae Holdings, Inc. (a) | 1,128 | 41,713 |
Voya Financial, Inc. | 1,231 | 59,002 |
100,715 | ||
Insurance – 3.9% | ||
American Equity Investment Life Holding Co. | 1,550 | 38,471 |
American Financial Group, Inc. | 823 | 61,676 |
AMERISAFE, Inc. | 483 | 28,487 |
Assurant, Inc. | 553 | 68,777 |
CNO Financial Group, Inc. | 2,372 | 42,103 |
Employers Holdings, Inc. | 897 | 28,713 |
Erie Indemnity Co. Class A | 219 | 50,999 |
First American Financial Corp. | 1,110 | 49,495 |
HCI Group, Inc. | 544 | 25,557 |
Horace Mann Educators Corp. | 861 | 29,196 |
James River Group Holdings Ltd. | 700 | 32,711 |
Kemper Corp. | 648 | 39,956 |
Kinsale Capital Group, Inc. | 239 | 44,805 |
Old Republic International Corp. | 3,163 | 51,494 |
Palomar Holdings, Inc. (a) | 347 | 30,942 |
Primerica, Inc. | 425 | 46,852 |
Reinsurance Group of America, Inc. | 670 | 67,683 |
RenaissanceRe Holdings Ltd. | 428 | 69,216 |
RLI Corp. | 505 | 43,783 |
The Hanover Insurance Group, Inc. | 455 | 43,525 |
Unum Group | 2,601 | 45,934 |
940,375 | ||
Mortgage Real Estate Investment Trusts (REITs) – 0.3% | ||
Blackstone Mortgage Trust, Inc. Class A | 1,846 | 40,058 |
KKR Real Estate Finance Trust, Inc. | 1,506 | 25,165 |
65,223 | ||
Thrifts & Mortgage Finance – 0.5% | ||
Essent Group Ltd. | 1,317 | 52,483 |
PennyMac Financial Services, Inc. | 721 | 36,641 |
Provident Financial Services, Inc. | 2,219 | 30,112 |
119,236 | ||
TOTAL FINANCIALS | 3,066,370 | |
HEALTH CARE – 16.4% | ||
Biotechnology – 3.1% | ||
ACADIA Pharmaceuticals, Inc. (a) | 1,073 | 49,841 |
Acceleron Pharma, Inc. (a) | 466 | 48,734 |
Akebia Therapeutics, Inc. (a) | 2,375 | 5,273 |
Alkermes PLC (a) | 1,874 | 30,452 |
Amicus Therapeutics, Inc. (a) | 2,648 | 47,214 |
Anika Therapeutics, Inc. (a) | 592 | 19,311 |
4 |
Common Stocks – continued | ||
Shares | Value | |
HEALTH CARE – continued | ||
Biotechnology – continued | ||
BioSpecifics Technologies Corp. (a) | 300 | $ 26,430 |
Emergent BioSolutions, Inc. (a) | 401 | 36,078 |
Enanta Pharmaceuticals, Inc. (a) | 464 | 20,244 |
Exelixis, Inc. (a) | 2,580 | 52,838 |
Halozyme Therapeutics, Inc. (a) | 1,270 | 35,560 |
Ironwood Pharmaceuticals, Inc. (a) | 2,667 | 26,350 |
Ligand Pharmaceuticals, Inc. (a) | 246 | 20,283 |
Moderna, Inc. (a) | 1,990 | 134,265 |
Natera, Inc. (a) | 706 | 47,486 |
Neurocrine Biosciences, Inc. (a) | 702 | 69,266 |
Twist Bioscience Corp. (a) | 436 | 33,415 |
United Therapeutics Corp. (a) | 416 | 55,840 |
758,880 | ||
Health Care Equipment & Supplies – 4.2% | ||
ABIOMED, Inc. (a) | 322 | 81,106 |
AtriCure, Inc. (a) | 669 | 23,121 |
Atrion Corp. | 35 | 21,040 |
Globus Medical, Inc. Class A (a) | 745 | 38,830 |
Hill-Rom Holdings, Inc. | 576 | 52,456 |
ICU Medical, Inc. (a) | 212 | 37,692 |
Inogen, Inc. (a) | 606 | 17,701 |
Integer Holdings Corp. (a) | 467 | 27,296 |
Integra LifeSciences Holdings Corp. (a) | 781 | 34,442 |
iRadimed Corp. | 802 | 18,165 |
iRhythm Technologies, Inc. (a) | 254 | 53,708 |
LeMaitre Vascular, Inc. | 693 | 22,509 |
Masimo Corp. (a) | 375 | 83,933 |
Meridian Bioscience, Inc. (a) | 955 | 16,378 |
Merit Medical Systems, Inc. (a) | 735 | 36,787 |
Mesa Laboratories, Inc. | 96 | 25,095 |
Neogen Corp. (a) | 530 | 36,962 |
Nevro Corp. (a) | 325 | 48,493 |
NuVasive, Inc. (a) | 630 | 27,991 |
OraSure Technologies, Inc. (a) | 1,744 | 26,055 |
Penumbra, Inc. (a) | 271 | 70,739 |
Quidel Corp. (a) | 288 | 77,268 |
Surmodics, Inc. (a) | 441 | 16,207 |
Tandem Diabetes Care, Inc. (a) | 502 | 54,718 |
Wright Medical Group N.V. (a) | 1,341 | 41,021 |
Zynex, Inc. (a) | 1,104 | 14,142 |
1,003,855 | ||
Health Care Providers & Services – 3.5% | ||
Addus HomeCare Corp. (a) | 259 | 25,271 |
Amedisys, Inc. (a) | 266 | 68,894 |
AMN Healthcare Services, Inc. (a) | 588 | 38,385 |
BioTelemetry, Inc. (a) | 615 | 26,187 |
Castle Biosciences, Inc. (a) | 441 | 20,476 |
Chemed Corp. | 128 | 61,225 |
CorVel Corp. (a) | 271 | 24,721 |
DaVita, Inc. (a) | 717 | 61,841 |
| ||
Shares | Value | |
Encompass Health Corp. | 845 | $ 51,807 |
HealthEquity, Inc. (a) | 782 | 40,265 |
LHC Group, Inc. (a) | 259 | 56,086 |
Magellan Health, Inc. (a) | 361 | 26,089 |
Molina Healthcare, Inc. (a) | 441 | 82,233 |
National HealthCare Corp. | 340 | 21,522 |
National Research Corp. | 381 | 19,736 |
Owens & Minor, Inc. | 1,683 | 42,277 |
Premier, Inc. Class A | 903 | 29,555 |
Select Medical Holdings Corp. (a) | 1,490 | 31,260 |
The Ensign Group, Inc. | 605 | 35,598 |
The Providence Service Corp. (a) | 266 | 31,268 |
Triple-S Management Corp. Class B (a) | 1,051 | 19,465 |
US Physical Therapy, Inc. | 271 | 21,498 |
835,659 | ||
Health Care Technology – 1.2% | ||
Computer Programs & Systems, Inc. | 662 | 18,463 |
HealthStream, Inc. (a) | 913 | 16,708 |
HMS Holdings Corp. (a) | 1,062 | 28,271 |
Inovalon Holdings, Inc. Class A (a) | 1,139 | 21,630 |
NextGen Healthcare, Inc. (a) | 1,452 | 19,747 |
Omnicell, Inc. (a) | 508 | 43,967 |
Simulations Plus, Inc. | 339 | 21,974 |
Teladoc Health, Inc. (a) | 524 | 102,945 |
Vocera Communications, Inc. (a) | 726 | 23,798 |
297,503 | ||
Life Sciences Tools & Services – 2.3% | ||
Adaptive Biotechnologies Corp. (a) | 566 | 26,081 |
Bio-Rad Laboratories, Inc. Class A (a) | 160 | 93,827 |
Bio-Techne Corp. | 292 | 73,704 |
Bruker Corp. | 997 | 42,412 |
Charles River Laboratories International, Inc. (a) | 373 | 84,932 |
Frontage Holdings Corp. (a)(b) | 36,000 | 15,789 |
Luminex Corp. | 766 | 16,883 |
Medpace Holdings, Inc. (a) | 300 | 33,282 |
NeoGenomics, Inc. (a) | 1,080 | 42,368 |
PRA Health Sciences, Inc. (a) | 538 | 52,423 |
Repligen Corp. (a) | 392 | 65,295 |
546,996 | ||
Pharmaceuticals – 2.1% | ||
Amneal Pharmaceuticals, Inc. (a) | 4,366 | 18,163 |
Catalent, Inc. (a) | 1,163 | 102,076 |
Corcept Therapeutics, Inc. (a) | 1,843 | 30,926 |
Endo International PLC (a) | 6,087 | 27,818 |
Horizon Therapeutics PLC (a) | 1,373 | 102,879 |
Innoviva, Inc. (a) | 1,664 | 17,988 |
Jazz Pharmaceuticals PLC (a) | 465 | 67,006 |
Pacira BioSciences, Inc. (a) | 548 | 28,660 |
Perrigo Co. PLC | 1,150 | 50,450 |
Phibro Animal Health Corp. Class A | 950 | 15,618 |
Prestige Consumer Healthcare, Inc. (a) | 724 | 23,914 |
5 |
Schedule of Investments (Unaudited)–continued
Common Stocks – continued | ||
Shares | Value | |
HEALTH CARE – continued | ||
Pharmaceuticals – continued | ||
Supernus Pharmaceuticals, Inc. (a) | 1,060 | $ 19,462 |
504,960 | ||
TOTAL HEALTH CARE | 3,947,853 | |
INDUSTRIALS – 15.8% | ||
Aerospace & Defense – 0.8% | ||
Axon Enterprise, Inc. (a) | 572 | 56,571 |
BWX Technologies, Inc. | 892 | 49,069 |
Curtiss-Wright Corp. | 431 | 36,359 |
Mercury Systems, Inc. (a) | 561 | 38,641 |
National Presto Industries, Inc. | 230 | 19,111 |
199,751 | ||
Air Freight & Logistics – 0.6% | ||
CH Robinson Worldwide, Inc. | 991 | 87,634 |
Forward Air Corp. | 504 | 31,737 |
Hub Group, Inc. Class A (a) | 542 | 27,170 |
146,541 | ||
Building Products – 2.0% | ||
AAON, Inc. | 560 | 32,710 |
AO Smith Corp. | 1,178 | 60,891 |
Armstrong World Industries, Inc. | 536 | 32,106 |
CSW Industrials, Inc. | 341 | 29,166 |
Gibraltar Industries, Inc. (a) | 484 | 27,806 |
Lennox International, Inc. | 274 | 74,435 |
Masonite International Corp. (a) | 354 | 31,152 |
Owens Corning | 920 | 60,232 |
Simpson Manufacturing Co., Inc. | 415 | 36,819 |
Trex Co., Inc. (a) | 951 | 66,132 |
UFP Industries, Inc. | 664 | 33,140 |
484,589 | ||
Commercial Services & Supplies – 1.5% | ||
Brady Corp. Class A | 673 | 25,386 |
Deluxe Corp. | 894 | 19,167 |
Ennis, Inc. | 1,190 | 18,136 |
Healthcare Services Group, Inc. | 1,129 | 25,831 |
HNI Corp. | 844 | 27,472 |
Kimball International, Inc. Class B | 1,834 | 18,890 |
McGrath RentCorp | 449 | 25,629 |
MSA Safety, Inc. | 365 | 48,151 |
Rollins, Inc. | 1,177 | 68,089 |
Tetra Tech, Inc. | 521 | 52,574 |
UniFirst Corp. | 186 | 30,469 |
359,794 | ||
Construction & Engineering – 1.2% | ||
Arcosa, Inc. | 700 | 32,319 |
Comfort Systems USA, Inc. | 571 | 26,152 |
Construction Partners, Inc. Class A (a) | 1,176 | 23,967 |
EMCOR Group, Inc. | 577 | 39,346 |
MYR Group, Inc. (a) | 592 | 25,308 |
Primoris Services Corp. | 1,260 | 23,776 |
| ||
Shares | Value | |
Quanta Services, Inc. | 1,218 | $76,040 |
Valmont Industries, Inc. | 274 | 38,894 |
285,802 | ||
Electrical Equipment – 1.5% | ||
Acuity Brands, Inc. | 414 | 36,904 |
Atkore International Group, Inc. (a) | 905 | 18,724 |
EnerSys | 511 | 36,588 |
Generac Holdings, Inc. (a) | 478 | 100,452 |
GrafTech International Ltd. | 3,008 | 20,304 |
Hubbell, Inc. | 452 | 65,770 |
nVent Electric PLC | 1,928 | 34,800 |
Regal-Beloit Corp. | 432 | 42,617 |
356,159 | ||
Industrial Conglomerates – 0.3% | ||
Carlisle Cos., Inc. | 475 | 58,838 |
Machinery – 4.3% | ||
Allison Transmission Holdings, Inc. | 1,162 | 42,006 |
Astec Industries, Inc. | 493 | 25,044 |
Barnes Group, Inc. | 755 | 27,709 |
Donaldson Co., Inc. | 1,110 | 52,725 |
ESCO Technologies, Inc. | 357 | 29,877 |
Federal Signal Corp. | 938 | 26,902 |
Franklin Electric Co., Inc. | 545 | 32,553 |
Graco, Inc. | 1,324 | 81,956 |
ITT, Inc. | 820 | 49,618 |
Kadant, Inc. | 231 | 26,593 |
Lincoln Electric Holdings, Inc. | 547 | 55,696 |
Lindsay Corp. | 245 | 25,799 |
Miller Industries, Inc. | 695 | 20,808 |
Mueller Industries, Inc. | 965 | 27,917 |
Nordson Corp. | 398 | 76,985 |
Omega Flex, Inc. | 168 | 25,150 |
Oshkosh Corp. | 630 | 42,437 |
Pentair PLC | 1,404 | 69,863 |
RBC Bearings, Inc. (a) | 293 | 34,882 |
Rexnord Corp. | 1,320 | 42,346 |
Snap-on, Inc. | 448 | 70,573 |
The Gorman-Rupp Co. | 666 | 20,679 |
The Timken Co. | 762 | 45,491 |
The Toro Co. | 891 | 73,151 |
1,026,760 | ||
Professional Services – 1.3% | ||
CBIZ, Inc. (a) | 1,068 | 24,212 |
CoreLogic, Inc. | 741 | 57,005 |
Exponent, Inc. | 528 | 36,744 |
FTI Consulting, Inc. (a) | 374 | 36,824 |
Kforce, Inc. | 737 | 25,574 |
ManpowerGroup, Inc. | 597 | 40,518 |
Robert Half International, Inc. | 1,026 | 52,008 |
TriNet Group, Inc. (a) | 522 | 35,976 |
308,861 |
6 |
Common Stocks – continued | ||
Shares | Value | |
INDUSTRIALS – continued | ||
Road & Rail – 1.1% | ||
JB Hunt Transport Services, Inc. | 638 | $ 77,670 |
Knight-Swift Transportation Holdings, Inc. | 1,152 | 43,764 |
Landstar System, Inc. | 371 | 46,264 |
Saia, Inc. (a) | 302 | 44,593 |
Schneider National, Inc. Class B | 932 | 20,560 |
Werner Enterprises, Inc. | 777 | 29,542 |
262,393 | ||
Trading Companies & Distributors – 1.2% | ||
Applied Industrial Technologies, Inc. | 508 | 31,014 |
HD Supply Holdings, Inc. (a) | 1,455 | 57,996 |
MSC Industrial Direct Co., Inc. Class A | 538 | 37,477 |
Rush Enterprises, Inc. Class A | 816 | 29,246 |
SiteOne Landscape Supply, Inc. (a) | 410 | 48,991 |
Triton International Ltd. | 872 | 32,159 |
Watsco, Inc. | 273 | 61,190 |
298,073 | ||
TOTAL INDUSTRIALS | 3,787,561 | |
INFORMATION TECHNOLOGY – 16.6% | ||
Communications Equipment – 1.2% | ||
Ciena Corp. (a) | 1,195 | 47,071 |
F5 Networks, Inc. (a) | 483 | 64,210 |
InterDigital, Inc. | 452 | 25,303 |
Juniper Networks, Inc. | 2,626 | 51,785 |
Lumentum Holdings, Inc. (a) | 629 | 52,012 |
Netscout Systems, Inc. (a) | 1,083 | 22,223 |
Ubiquiti, Inc. | 160 | 29,698 |
292,302 | ||
Electronic Equipment, Instruments & Components – 3.0% | ||
Arrow Electronics, Inc. (a) | 697 | 54,289 |
Badger Meter, Inc. | 436 | 31,976 |
Cognex Corp. | 1,274 | 83,957 |
Dolby Laboratories, Inc. Class A | 625 | 46,925 |
ePlus, Inc. (a) | 305 | 20,591 |
Fabrinet (a) | 445 | 26,709 |
FLIR Systems, Inc. | 1,235 | 42,842 |
IPG Photonics Corp. (a) | 315 | 58,577 |
Jabil, Inc. | 1,298 | 43,016 |
Littelfuse, Inc. | 237 | 46,912 |
Methode Electronics, Inc. | 803 | 24,708 |
National Instruments Corp. | 1,167 | 36,504 |
Novanta, Inc. (a) | 360 | 39,139 |
PC Connection, Inc. | 436 | 19,860 |
Plexus Corp. (a) | 394 | 27,399 |
Sanmina Corp. (a) | 979 | 23,927 |
ScanSource, Inc. (a) | 843 | 16,944 |
SYNNEX Corp. | 379 | 49,892 |
Vishay Intertechnology, Inc. | 1,807 | 29,309 |
723,476 |
| ||
Shares | Value | |
IT Services – 2.4% | ||
CACI International, Inc. Class A (a) | 232 | $ 48,379 |
Cass Information Systems, Inc. | 524 | 20,551 |
CSG Systems International, Inc. | 596 | 22,576 |
Euronet Worldwide, Inc. (a) | 481 | 42,732 |
EVERTEC, Inc. | 896 | 29,819 |
ExlService Holdings, Inc. (a) | 462 | 34,992 |
Genpact Ltd. | 1,323 | 45,471 |
GreenSky, Inc. Class A (a) | 3,063 | 14,488 |
International Money Express, Inc. (a) | 1,162 | 16,163 |
KBR, Inc. | 1,607 | 35,820 |
ManTech International Corp. Class A | 403 | 26,147 |
MAXIMUS, Inc. | 589 | 39,805 |
NIC, Inc. | 1,180 | 26,456 |
Perficient, Inc. (a) | 619 | 24,240 |
Perspecta, Inc. | 1,599 | 28,670 |
Repay Holding Corp. (a) | 916 | 20,637 |
Science Applications International Corp. | 503 | 38,414 |
Sykes Enterprises, Inc. (a) | 753 | 25,783 |
The Hackett Group, Inc. | 1,418 | 18,321 |
TTEC Holdings, Inc. | 401 | 21,967 |
581,431 | ||
Semiconductors & Semiconductor Equipment – 3.8% | ||
Advanced Energy Industries, Inc. (a) | 451 | 30,429 |
Amkor Technology, Inc. (a) | 1,890 | 22,396 |
Axcelis Technologies, Inc. (a) | 855 | 18,870 |
Cirrus Logic, Inc. (a) | 608 | 41,873 |
CMC Materials, Inc. | 280 | 39,813 |
Diodes, Inc. (a) | 577 | 33,368 |
Entegris, Inc. | 1,034 | 77,312 |
FormFactor, Inc. (a) | 1,056 | 29,938 |
Inphi Corp. (a) | 420 | 58,699 |
Kulicke & Soffa Industries, Inc. | 1,067 | 27,891 |
Lattice Semiconductor Corp. (a) | 1,347 | 47,010 |
MKS Instruments, Inc. | 463 | 50,185 |
Monolithic Power Systems, Inc. | 308 | 98,437 |
NeoPhotonics Corp. (a) | 2,260 | 15,391 |
NVE Corp. | 324 | 14,946 |
Onto Innovation, Inc. (a) | 757 | 24,277 |
Photronics, Inc. (a) | 1,830 | 17,842 |
Power Integrations, Inc. | 637 | 38,354 |
Rambus, Inc. (a) | 1,834 | 25,291 |
Semtech Corp. (a) | 677 | 37,160 |
Silicon Laboratories, Inc. (a) | 428 | 43,853 |
SolarEdge Technologies, Inc. (a) | 378 | 97,407 |
Synaptics, Inc. (a) | 394 | 30,208 |
920,950 | ||
Software – 5.7% | ||
ACI Worldwide, Inc. (a) | 1,245 | 36,317 |
Alarm.com Holdings, Inc. (a) | 537 | 31,323 |
Appfolio, Inc. Class A (a) | 188 | 26,859 |
Aspen Technology, Inc. (a) | 570 | 62,592 |
7 |
Schedule of Investments (Unaudited)–continued
Common Stocks – continued | ||
Shares | Value | |
INFORMATION TECHNOLOGY – continued | ||
Software – continued | ||
Avalara, Inc. (a) | 538 | $ 80,189 |
Blackline, Inc. (a) | 443 | 43,272 |
CDK Global, Inc. | 1,084 | 46,720 |
CommVault Systems, Inc. (a) | 644 | 25,496 |
Dropbox, Inc. Class A (a) | 2,057 | 37,561 |
Everbridge, Inc. (a) | 322 | 33,710 |
Five9, Inc. (a) | 504 | 76,467 |
HubSpot, Inc. (a) | 309 | 89,632 |
j2 Global, Inc. (a) | 558 | 37,877 |
Manhattan Associates, Inc. (a) | 555 | 47,452 |
MicroStrategy, Inc. Class A (a) | 185 | 30,908 |
Nuance Communications, Inc. (a) | 2,246 | 71,670 |
Paylocity Holding Corp. (a) | 342 | 63,448 |
Progress Software Corp. | 735 | 26,732 |
Proofpoint, Inc. (a) | 498 | 47,678 |
Qualys, Inc. (a) | 336 | 29,518 |
RealPage, Inc. (a) | 790 | 43,995 |
SPS Commerce, Inc. (a) | 432 | 36,975 |
Verint Systems, Inc. (a) | 766 | 37,166 |
Xperi Holding Corp. | 1,700 | 21,080 |
Zendesk, Inc. (a) | 868 | 96,296 |
Zoom Video Communications, Inc. Class A (a) | 233 | 107,392 |
Zscaler, Inc. (a) | 521 | 70,726 |
1,359,051 | ||
Technology Hardware, Storage & Peripherals – 0.5% | ||
DELL Technologies, Inc. Class C (a) | 1,200 | 72,312 |
Xerox Holdings Corp. | 2,139 | 37,176 |
109,488 | ||
TOTAL INFORMATION TECHNOLOGY | 3,986,698 | |
MATERIALS – 5.3% | ||
Chemicals – 2.0% | ||
Advanced Emissions Solutions, Inc. | 4,464 | 19,865 |
Albemarle Corp. | 847 | 78,949 |
Balchem Corp. | 369 | 36,882 |
Chase Corp. | 222 | 21,126 |
HB Fuller Co. | 681 | 30,815 |
Innospec, Inc. | 382 | 25,265 |
Minerals Technologies, Inc. | 564 | 30,845 |
NewMarket Corp. | 92 | 32,907 |
RPM International, Inc. | 981 | 83,061 |
Sensient Technologies Corp. | 583 | 38,146 |
Stepan Co. | 277 | 32,254 |
The Scotts Miracle-Gro Co. | 349 | 52,367 |
482,482 | ||
Construction Materials – 0.2% | ||
Eagle Materials, Inc. | 466 | 39,727 |
Containers & Packaging – 1.7% | ||
AptarGroup, Inc. | 535 | 61,038 |
| ||
Shares | Value | |
Berry Global Group, Inc. (a) | 1,132 | $ 52,785 |
Graphic Packaging Holding Co. | 2,912 | 38,700 |
Greif, Inc. Class A | 641 | 26,018 |
Packaging Corp. of America | 754 | 86,325 |
Sealed Air Corp. | 1,379 | 54,595 |
Silgan Holdings, Inc. | 935 | 32,211 |
Sonoco Products Co. | 941 | 46,006 |
UFP Technologies, Inc. (a) | 445 | 16,492 |
414,170 | ||
Metals & Mining – 1.1% | ||
Commercial Metals Co. | 1,539 | 31,780 |
Kaiser Aluminum Corp. | 367 | 23,095 |
Reliance Steel & Aluminum Co. | 553 | 60,272 |
Royal Gold, Inc. | 516 | 61,306 |
Steel Dynamics, Inc. | 1,894 | 59,623 |
Warrior Met Coal, Inc. | 1,511 | 22,665 |
258,741 | ||
Paper & Forest Products – 0.3% | ||
Boise Cascade Co. | 648 | 24,870 |
Neenah, Inc. | 505 | 19,003 |
Schweitzer-Mauduit International, Inc. | 723 | 24,004 |
67,877 | ||
TOTAL MATERIALS | 1,262,997 | |
REAL ESTATE – 7.2% | ||
Equity Real Estate Investment Trusts (REITs) – 6.9% | ||
Agree Realty Corp. | 614 | 38,111 |
Apartment Investment & Management Co. Class A | 1,425 | 45,457 |
Apple Hospitality REIT, Inc. | 3,438 | 34,036 |
Brixmor Property Group, Inc. | 3,445 | 37,757 |
CoreCivic, Inc. | 3,026 | 19,397 |
CoreSite Realty Corp. | 399 | 47,625 |
Corporate Office Properties Trust | 1,410 | 31,626 |
Cousins Properties, Inc. | 1,522 | 38,781 |
CubeSmart | 1,843 | 62,533 |
Easterly Government Properties, Inc. | 1,238 | 25,874 |
EastGroup Properties, Inc. | 380 | 50,570 |
Equity Commonwealth | 1,368 | 36,143 |
Federal Realty Investment Trust | 683 | 46,977 |
First Industrial Realty Trust, Inc. | 1,224 | 48,727 |
Four Corners Property Trust, Inc. | 1,228 | 31,118 |
Gaming and Leisure Properties, Inc. | 1,772 | 64,412 |
Getty Realty Corp. | 889 | 23,363 |
Gladstone Land Corp. | 1,382 | 19,168 |
Healthcare Realty Trust, Inc. | 1,507 | 41,895 |
Healthcare Trust of America, Inc. Class A | 2,038 | 49,523 |
Highwoods Properties, Inc. | 1,140 | 33,938 |
Industrial Logistics Properties Trust | 1,320 | 25,318 |
Kilroy Realty Corp. | 978 | 46,044 |
Kimco Realty Corp. | 4,338 | 44,508 |
Lamar Advertising Co. Class A | 820 | 50,807 |
8 |
Common Stocks – continued | ||
Shares | Value | |
REAL ESTATE – continued | ||
Equity Real Estate Investment Trusts (REITs) – continued | ||
Lexington Realty Trust | 3,338 | $ 33,146 |
Life Storage, Inc. | 481 | 54,906 |
LTC Properties, Inc. | 772 | 25,484 |
National Health Investors, Inc. | 580 | 32,509 |
National Retail Properties, Inc. | 1,588 | 50,832 |
Omega Healthcare Investors, Inc. | 1,965 | 56,612 |
Physicians Realty Trust | 2,322 | 39,149 |
Piedmont Office Realty Trust, Inc. Class A | 1,974 | 22,543 |
PS Business Parks, Inc. | 268 | 30,560 |
QTS Realty Trust, Inc. Class A | 642 | 39,489 |
Rexford Industrial Realty, Inc. | 1,152 | 53,522 |
RPT Realty | 3,683 | 18,010 |
Safehold, Inc. | 476 | 32,758 |
STORE Capital Corp. | 2,138 | 54,947 |
Terreno Realty Corp. | 727 | 40,916 |
Urban Edge Properties | 2,616 | 24,590 |
Washington Real Estate Investment Trust | 1,367 | 23,895 |
Weingarten Realty Investors | 1,851 | 29,357 |
1,656,933 | ||
Real Estate Management & Development – 0.3% | ||
Marcus & Millichap, Inc. (a) | 891 | 27,826 |
RE/MAX Holdings, Inc. Class A | 719 | 23,252 |
The RMR Group, Inc. Class A | 817 | 21,781 |
72,859 | ||
TOTAL REAL ESTATE | 1,729,792 | |
UTILITIES – 2.4% | ||
Electric Utilities – 1.2% | ||
Hawaiian Electric Industries, Inc. | 1,203 | 39,747 |
IDACORP, Inc. | 516 | 45,269 |
MGE Energy, Inc. | 514 | 33,420 |
NRG Energy, Inc. | 2,028 | 64,125 |
OGE Energy Corp. | 1,776 | 54,648 |
| ||
Shares | Value | |
Portland General Electric Co. | 994 | $ 39,064 |
276,273 | ||
Gas Utilities – 0.3% | ||
National Fuel Gas Co. | 998 | 39,880 |
ONE Gas, Inc. | 575 | 39,698 |
79,578 | ||
Independent Power and Renewable Electricity Producers – 0.2% | ||
Clearway Energy, Inc. Class C | 1,415 | 39,847 |
Multi-Utilities – 0.5% | ||
Avista Corp. | 931 | 30,928 |
MDU Resources Group, Inc. | 2,030 | 48,233 |
NorthWestern Corp. | 649 | 33,832 |
112,993 | ||
Water Utilities – 0.2% | ||
American States Water Co. | 472 | 35,254 |
The York Water Co. | 506 | 21,378 |
56,632 | ||
TOTAL UTILITIES | 565,323 | |
TOTAL COMMON STOCKS (Cost $23,273,760) | 23,992,490 | |
TOTAL INVESTMENT IN SECURITIES – 99.9% (Cost $23,273,760) | 23,992,490 | |
NET OTHER ASSETS (LIABILITIES) – 0.1% | 22,096 | |
NET ASSETS – 100.0% | $ 24,014,586 |
Legend | ||
(a) | Non-income producing. | |
(b) | Security is 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 $15,789 or .0% of net assets. |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $2 |
Amounts in the 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. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund’s investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee’s activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund’s investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three
9 |
Schedule of Investments (Unaudited)–continued
levels: Level 1 – 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund’s investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
For additional information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semiannual or annual shareholder report.
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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 semiannual report.
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