Quarterly Holdings Report
for
Fidelity® Enhanced Large Cap Value ETF
November 30, 2023
LGV-NPRT1-0124
1.9910058.100
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 5.1% | |||
Diversified Telecommunication Services - 1.8% | |||
AT&T, Inc. | 1,210,705 | 20,061,382 | |
Lumen Technologies, Inc. (a)(b) | 87,752 | 114,955 | |
Verizon Communications, Inc. | 333,270 | 12,774,239 | |
32,950,576 | |||
Entertainment - 1.2% | |||
Electronic Arts, Inc. | 95,420 | 13,168,914 | |
Liberty Media Corp. Liberty Live Series A | 5,308 | 174,899 | |
Playtika Holding Corp. (a) | 33,907 | 294,652 | |
Spotify Technology SA (a) | 8,269 | 1,530,675 | |
The Walt Disney Co. | 67,454 | 6,252,311 | |
21,421,451 | |||
Interactive Media & Services - 0.5% | |||
Alphabet, Inc.: | |||
Class A (a) | 836 | 110,795 | |
Class C (a) | 63,061 | 8,445,129 | |
8,555,924 | |||
Media - 1.5% | |||
Comcast Corp. Class A | 570,250 | 23,887,773 | |
Liberty Media Corp. Liberty SiriusXM (a) | 98,161 | 2,649,365 | |
Liberty Media Corp. Liberty SiriusXM Class A | 16,605 | 447,339 | |
TEGNA, Inc. | 17,377 | 266,389 | |
27,250,866 | |||
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. | 6,322 | 951,145 | |
TOTAL COMMUNICATION SERVICES | 91,129,962 | ||
CONSUMER DISCRETIONARY - 6.7% | |||
Automobiles - 0.6% | |||
Ford Motor Co. | 1,049,445 | 10,767,306 | |
Broadline Retail - 0.7% | |||
Amazon.com, Inc. (a) | 36,404 | 5,318,260 | |
eBay, Inc. | 148,824 | 6,103,272 | |
Macy's, Inc. (b) | 105,164 | 1,667,901 | |
13,089,433 | |||
Distributors - 0.5% | |||
Genuine Parts Co. | 71,078 | 9,437,737 | |
Diversified Consumer Services - 0.0% | |||
H&R Block, Inc. | 8,299 | 376,941 | |
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (a) | 9,153 | 1,156,390 | |
Draftkings Holdings, Inc. (a) | 16,649 | 636,658 | |
Expedia, Inc. (a) | 3,426 | 466,553 | |
International Game Technology PLC | 18,806 | 502,684 | |
Light & Wonder, Inc. Class A (a) | 26,655 | 2,356,835 | |
Marriott Vacations Worldwide Corp. | 7,004 | 510,592 | |
McDonald's Corp. | 53,322 | 15,028,272 | |
MGM Resorts International | 142,997 | 5,639,802 | |
Penn Entertainment, Inc. (a) | 64,671 | 1,588,320 | |
Starbucks Corp. | 51,850 | 5,148,705 | |
Wendy's Co. (b) | 122,270 | 2,292,563 | |
Wynn Resorts Ltd. | 7,108 | 600,057 | |
35,927,431 | |||
Household Durables - 2.1% | |||
D.R. Horton, Inc. | 92,643 | 11,827,732 | |
Lennar Corp. Class A | 48,973 | 6,264,626 | |
Mohawk Industries, Inc. (a) | 7,047 | 622,321 | |
Toll Brothers, Inc. | 116,782 | 10,030,406 | |
TopBuild Corp. (a) | 26,137 | 7,730,802 | |
36,475,887 | |||
Leisure Products - 0.0% | |||
Peloton Interactive, Inc. Class A (a)(b) | 47,408 | 268,329 | |
Specialty Retail - 0.6% | |||
AutoNation, Inc. (a) | 22,556 | 3,051,150 | |
Murphy U.S.A., Inc. | 1,847 | 682,559 | |
The Home Depot, Inc. | 12,619 | 3,955,930 | |
TJX Companies, Inc. | 33,376 | 2,940,759 | |
Ulta Beauty, Inc. (a) | 1,401 | 596,812 | |
11,227,210 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
Crocs, Inc. (a) | 7,480 | 789,963 | |
Tapestry, Inc. | 30,619 | 969,704 | |
Under Armour, Inc.: | |||
Class A (sub. vtg.) (a) | 84,912 | 691,184 | |
Class C (non-vtg.) (a) | 64,075 | 490,815 | |
2,941,666 | |||
TOTAL CONSUMER DISCRETIONARY | 120,511,940 | ||
CONSUMER STAPLES - 8.3% | |||
Beverages - 1.1% | |||
Coca-Cola Bottling Co. Consolidated | 203 | 149,108 | |
Keurig Dr. Pepper, Inc. | 2,909 | 91,837 | |
Molson Coors Beverage Co. Class B | 103,151 | 6,347,913 | |
PepsiCo, Inc. | 5,310 | 893,620 | |
The Coca-Cola Co. | 206,981 | 12,095,970 | |
19,578,448 | |||
Consumer Staples Distribution & Retail - 2.3% | |||
Casey's General Stores, Inc. | 638 | 175,705 | |
Costco Wholesale Corp. | 9,531 | 5,649,405 | |
Kroger Co. | 8,822 | 390,550 | |
Sysco Corp. | 127,791 | 9,222,676 | |
Walmart, Inc. | 164,268 | 25,574,885 | |
41,013,221 | |||
Food Products - 1.6% | |||
Archer Daniels Midland Co. | 101,252 | 7,465,310 | |
Ingredion, Inc. | 2,306 | 236,342 | |
Mondelez International, Inc. | 51,828 | 3,682,898 | |
Post Holdings, Inc. (a)(b) | 6,587 | 562,727 | |
The J.M. Smucker Co. | 44,662 | 4,900,761 | |
The Kraft Heinz Co. | 333,880 | 11,722,527 | |
28,570,565 | |||
Household Products - 2.5% | |||
Colgate-Palmolive Co. | 26,740 | 2,106,310 | |
Kimberly-Clark Corp. | 35,303 | 4,368,040 | |
Procter & Gamble Co. | 236,488 | 36,305,638 | |
Spectrum Brands Holdings, Inc. (b) | 20,403 | 1,414,540 | |
44,194,528 | |||
Tobacco - 0.8% | |||
Altria Group, Inc. | 59,909 | 2,518,574 | |
Philip Morris International, Inc. | 130,373 | 12,171,623 | |
14,690,197 | |||
TOTAL CONSUMER STAPLES | 148,046,959 | ||
ENERGY - 8.0% | |||
Energy Equipment & Services - 0.9% | |||
Baker Hughes Co. Class A | 152,600 | 5,150,250 | |
Schlumberger Ltd. | 149,623 | 7,786,381 | |
Weatherford International PLC (a) | 41,812 | 3,791,930 | |
16,728,561 | |||
Oil, Gas & Consumable Fuels - 7.1% | |||
Chevron Corp. | 153,779 | 22,082,664 | |
ConocoPhillips Co. | 138,515 | 16,008,179 | |
Diamondback Energy, Inc. | 25,883 | 3,996,594 | |
EOG Resources, Inc. | 91,987 | 11,320,840 | |
Exxon Mobil Corp. | 449,202 | 46,151,013 | |
Marathon Oil Corp. | 109,832 | 2,793,028 | |
Marathon Petroleum Corp. | 33,890 | 5,056,049 | |
Murphy Oil Corp. | 76,720 | 3,281,314 | |
ONEOK, Inc. | 64,571 | 4,445,713 | |
Phillips 66 Co. | 46,803 | 6,032,439 | |
Pioneer Natural Resources Co. | 13,927 | 3,226,050 | |
Targa Resources Corp. | 7,190 | 650,336 | |
Valero Energy Corp. | 12,001 | 1,504,445 | |
Vitesse Energy, Inc. (b) | 11,504 | 271,840 | |
126,820,504 | |||
TOTAL ENERGY | 143,549,065 | ||
FINANCIALS - 21.4% | |||
Banks - 5.9% | |||
Bank of America Corp. | 955,376 | 29,129,414 | |
Citigroup, Inc. | 34,992 | 1,613,131 | |
Columbia Banking Systems, Inc. | 72,460 | 1,625,278 | |
East West Bancorp, Inc. | 77,112 | 4,851,887 | |
Fifth Third Bancorp | 62,682 | 1,814,644 | |
First Horizon National Corp. | 44,637 | 570,907 | |
Hancock Whitney Corp. | 6,523 | 269,074 | |
JPMorgan Chase & Co. | 328,974 | 51,346,262 | |
KeyCorp | 136,965 | 1,696,996 | |
Signature Bank | 16,982 | 849 | |
U.S. Bancorp | 50,736 | 1,934,056 | |
Wells Fargo & Co. | 223,431 | 9,962,788 | |
Wintrust Financial Corp. | 6,995 | 599,262 | |
105,414,548 | |||
Capital Markets - 5.3% | |||
Bank of New York Mellon Corp. | 241,529 | 11,670,681 | |
BlackRock, Inc. Class A | 795 | 597,228 | |
Cboe Global Markets, Inc. | 16,157 | 2,943,644 | |
Charles Schwab Corp. | 237,703 | 14,575,948 | |
CME Group, Inc. | 49,662 | 10,844,194 | |
Federated Hermes, Inc. | 120,293 | 3,827,723 | |
Goldman Sachs Group, Inc. | 39,199 | 13,388,026 | |
Intercontinental Exchange, Inc. | 32,205 | 3,666,217 | |
Jefferies Financial Group, Inc. | 96,813 | 3,431,053 | |
Morgan Stanley | 45,475 | 3,607,987 | |
NASDAQ, Inc. | 208,450 | 11,639,848 | |
Northern Trust Corp. | 8,835 | 700,174 | |
Robinhood Markets, Inc. (a)(b) | 265,709 | 2,338,239 | |
S&P Global, Inc. | 8,284 | 3,444,736 | |
State Street Corp. | 71,267 | 5,189,663 | |
Stifel Financial Corp. | 21,039 | 1,283,800 | |
Tradeweb Markets, Inc. Class A | 15,592 | 1,510,865 | |
94,660,026 | |||
Consumer Finance - 1.1% | |||
American Express Co. | 57,335 | 9,791,098 | |
Discover Financial Services | 9,072 | 843,696 | |
Synchrony Financial | 282,222 | 9,132,704 | |
19,767,498 | |||
Financial Services - 4.9% | |||
Berkshire Hathaway, Inc. Class B (a) | 176,950 | 63,701,998 | |
Corebridge Financial, Inc. | 28,333 | 595,843 | |
Essent Group Ltd. | 28,413 | 1,373,484 | |
Fidelity National Information Services, Inc. | 162,388 | 9,522,432 | |
MasterCard, Inc. Class A | 12,410 | 5,135,630 | |
MGIC Investment Corp. | 279,652 | 4,919,079 | |
NCR Atleos Corp. | 2,419 | 53,726 | |
PayPal Holdings, Inc. (a) | 42,472 | 2,446,812 | |
87,749,004 | |||
Insurance - 4.2% | |||
American Financial Group, Inc. | 2,572 | 294,211 | |
American International Group, Inc. | 97,891 | 6,442,207 | |
Assurant, Inc. | 3,381 | 568,076 | |
Axis Capital Holdings Ltd. | 9,155 | 515,793 | |
Brown & Brown, Inc. | 131,651 | 9,839,596 | |
Chubb Ltd. | 32,007 | 7,343,366 | |
Cincinnati Financial Corp. | 25,056 | 2,575,506 | |
CNA Financial Corp. | 5,947 | 249,899 | |
F&G Annuities & Life, Inc. (b) | 4,485 | 183,033 | |
Globe Life, Inc. | 8,296 | 1,021,486 | |
Hartford Financial Services Group, Inc. | 86,698 | 6,776,316 | |
Loews Corp. | 109,975 | 7,730,143 | |
MetLife, Inc. | 148,464 | 9,446,764 | |
Progressive Corp. | 4,007 | 657,268 | |
Prudential Financial, Inc. | 63,737 | 6,232,204 | |
Reinsurance Group of America, Inc. | 18,725 | 3,053,299 | |
The Travelers Companies, Inc. | 30,293 | 5,471,522 | |
Unum Group | 107,620 | 4,627,660 | |
W.R. Berkley Corp. | 40,068 | 2,906,933 | |
75,935,282 | |||
TOTAL FINANCIALS | 383,526,358 | ||
HEALTH CARE - 14.0% | |||
Biotechnology - 3.1% | |||
AbbVie, Inc. | 18,851 | 2,684,194 | |
Alkermes PLC (a) | 52,301 | 1,262,546 | |
Amgen, Inc. | 16,583 | 4,471,440 | |
Biogen, Inc. (a) | 43,305 | 10,136,834 | |
Exelixis, Inc. (a) | 185,686 | 4,049,812 | |
Gilead Sciences, Inc. | 234,136 | 17,934,818 | |
Incyte Corp. (a) | 147,584 | 8,019,715 | |
PTC Therapeutics, Inc. (a) | 51,825 | 1,193,012 | |
Sarepta Therapeutics, Inc. (a) | 38,823 | 3,155,533 | |
United Therapeutics Corp. (a) | 13,222 | 3,173,280 | |
56,081,184 | |||
Health Care Equipment & Supplies - 2.0% | |||
Abbott Laboratories | 56,727 | 5,916,059 | |
Boston Scientific Corp. (a) | 59,890 | 3,347,252 | |
GE Healthcare Holding LLC | 42,455 | 2,906,469 | |
Integra LifeSciences Holdings Corp. (a) | 84,931 | 3,328,446 | |
Medtronic PLC | 101,810 | 8,070,479 | |
Zimmer Biomet Holdings, Inc. | 103,203 | 12,003,541 | |
35,572,246 | |||
Health Care Providers & Services - 3.8% | |||
Centene Corp. (a) | 172,141 | 12,683,349 | |
Cigna Group | 19,955 | 5,245,770 | |
CVS Health Corp. | 188,244 | 12,791,180 | |
DaVita HealthCare Partners, Inc. (a) | 37,338 | 3,788,313 | |
Elevance Health, Inc. | 30,702 | 14,721,302 | |
Humana, Inc. | 21,753 | 10,547,160 | |
McKesson Corp. | 10,703 | 5,036,404 | |
UnitedHealth Group, Inc. | 6,085 | 3,364,822 | |
68,178,300 | |||
Health Care Technology - 0.2% | |||
Teladoc Health, Inc. (a)(b) | 200,510 | 3,637,251 | |
Life Sciences Tools & Services - 0.6% | |||
Bio-Rad Laboratories, Inc. Class A (a) | 22,939 | 6,994,560 | |
Danaher Corp. | 18,050 | 4,030,746 | |
11,025,306 | |||
Pharmaceuticals - 4.3% | |||
Bristol-Myers Squibb Co. | 105,644 | 5,216,701 | |
Elanco Animal Health, Inc. (a) | 46,332 | 545,791 | |
Johnson & Johnson | 206,527 | 31,941,466 | |
Merck & Co., Inc. | 115,084 | 11,793,808 | |
Organon & Co. | 235,471 | 2,665,532 | |
Pfizer, Inc. | 715,536 | 21,802,382 | |
Viatris, Inc. | 268,313 | 2,463,113 | |
76,428,793 | |||
TOTAL HEALTH CARE | 250,923,080 | ||
INDUSTRIALS - 15.1% | |||
Aerospace & Defense - 2.7% | |||
General Dynamics Corp. | 20,225 | 4,994,968 | |
L3Harris Technologies, Inc. | 34,090 | 6,504,713 | |
Lockheed Martin Corp. | 12,477 | 5,586,826 | |
Moog, Inc. Class A | 17,475 | 2,446,675 | |
Northrop Grumman Corp. | 11,142 | 5,294,233 | |
RTX Corp. (b) | 84,440 | 6,880,171 | |
Textron, Inc. | 136,488 | 10,463,170 | |
The Boeing Co. (a) | 16,162 | 3,743,604 | |
Woodward, Inc. | 22,949 | 3,102,246 | |
49,016,606 | |||
Air Freight & Logistics - 0.7% | |||
FedEx Corp. | 50,719 | 13,127,599 | |
Building Products - 0.9% | |||
A.O. Smith Corp. | 3,037 | 228,868 | |
Allegion PLC | 11,040 | 1,171,234 | |
Builders FirstSource, Inc. (a) | 4,051 | 543,280 | |
Johnson Controls International PLC | 202,056 | 10,668,557 | |
Owens Corning | 979 | 132,733 | |
Simpson Manufacturing Co. Ltd. | 157 | 26,214 | |
Trane Technologies PLC | 13,788 | 3,107,953 | |
15,878,839 | |||
Commercial Services & Supplies - 1.4% | |||
Cintas Corp. | 18,698 | 10,344,669 | |
Driven Brands Holdings, Inc. (a) | 1,765 | 23,210 | |
Republic Services, Inc. | 79,287 | 12,831,808 | |
Tetra Tech, Inc. | 2,168 | 342,869 | |
Veralto Corp. | 9,475 | 731,944 | |
24,274,500 | |||
Construction & Engineering - 0.3% | |||
Arcosa, Inc. | 10,170 | 754,614 | |
EMCOR Group, Inc. | 7,216 | 1,533,544 | |
Fluor Corp. (a) | 16,945 | 644,418 | |
Valmont Industries, Inc. | 14,454 | 3,173,665 | |
6,106,241 | |||
Electrical Equipment - 2.1% | |||
Acuity Brands, Inc. | 4,567 | 818,680 | |
AMETEK, Inc. | 47,874 | 7,431,481 | |
Eaton Corp. PLC | 52,513 | 11,956,685 | |
Emerson Electric Co. | 153,457 | 13,642,327 | |
EnerSys | 13,807 | 1,221,643 | |
Hubbell, Inc. Class B | 3,911 | 1,173,300 | |
nVent Electric PLC | 20,335 | 1,082,839 | |
37,326,955 | |||
Ground Transportation - 1.6% | |||
CSX Corp. | 229,662 | 7,418,083 | |
Norfolk Southern Corp. | 18,292 | 3,990,583 | |
Old Dominion Freight Lines, Inc. | 1,941 | 755,165 | |
Union Pacific Corp. | 74,602 | 16,805,593 | |
28,969,424 | |||
Industrial Conglomerates - 1.4% | |||
3M Co. | 148,758 | 14,737,455 | |
General Electric Co. | 77,858 | 9,483,104 | |
Honeywell International, Inc. | 7,634 | 1,495,653 | |
25,716,212 | |||
Machinery - 2.7% | |||
AGCO Corp. | 67,799 | 7,697,220 | |
Allison Transmission Holdings, Inc. | 67,217 | 3,594,765 | |
Caterpillar, Inc. | 25,824 | 6,474,593 | |
CNH Industrial NV (b) | 218,846 | 2,350,406 | |
Cummins, Inc. | 7,909 | 1,772,881 | |
Deere & Co. | 7,186 | 2,618,650 | |
Donaldson Co., Inc. | 21,715 | 1,321,141 | |
Flowserve Corp. | 35,911 | 1,373,955 | |
Fortive Corp. | 21,273 | 1,467,412 | |
Gates Industrial Corp. PLC (a) | 47,805 | 586,089 | |
Oshkosh Corp. | 66,446 | 6,464,531 | |
PACCAR, Inc. | 78,635 | 7,220,266 | |
SPX Technologies, Inc. (a) | 6,568 | 560,316 | |
Westinghouse Air Brake Tech Co. | 42,727 | 4,980,259 | |
48,482,484 | |||
Marine Transportation - 0.1% | |||
Kirby Corp. (a) | 17,754 | 1,362,620 | |
Passenger Airlines - 0.0% | |||
American Airlines Group, Inc. (a) | 5,067 | 62,983 | |
United Airlines Holdings, Inc. (a) | 7,224 | 284,626 | |
347,609 | |||
Professional Services - 0.9% | |||
Automatic Data Processing, Inc. | 9,911 | 2,278,737 | |
Korn Ferry | 13,904 | 719,393 | |
Leidos Holdings, Inc. | 49,521 | 5,314,594 | |
Parsons Corp. (a) | 69,684 | 4,340,616 | |
SS&C Technologies Holdings, Inc. | 45,231 | 2,544,696 | |
15,198,036 | |||
Trading Companies & Distributors - 0.3% | |||
Beacon Roofing Supply, Inc. (a) | 42,384 | 3,405,978 | |
Boise Cascade Co. (b) | 8,081 | 883,253 | |
Core & Main, Inc. (a) | 31,369 | 1,098,856 | |
5,388,087 | |||
TOTAL INDUSTRIALS | 271,195,212 | ||
INFORMATION TECHNOLOGY - 10.3% | |||
Communications Equipment - 1.4% | |||
Cisco Systems, Inc. | 452,597 | 21,896,643 | |
Extreme Networks, Inc. (a) | 5,903 | 95,274 | |
Juniper Networks, Inc. | 136,516 | 3,883,880 | |
25,875,797 | |||
Electronic Equipment, Instruments & Components - 0.3% | |||
Avnet, Inc. | 22,806 | 1,066,409 | |
Belden, Inc. | 14,051 | 933,548 | |
Keysight Technologies, Inc. (a) | 12,858 | 1,747,274 | |
TE Connectivity Ltd. | 11,456 | 1,500,736 | |
Trimble, Inc. (a) | 11,826 | 548,726 | |
5,796,693 | |||
IT Services - 0.8% | |||
GoDaddy, Inc. (a) | 36,119 | 3,614,067 | |
IBM Corp. | 22,140 | 3,510,518 | |
Kyndryl Holdings, Inc. (a) | 26,979 | 486,431 | |
Twilio, Inc. Class A (a) | 104,174 | 6,737,974 | |
14,348,990 | |||
Semiconductors & Semiconductor Equipment - 4.3% | |||
Advanced Micro Devices, Inc. (a) | 86,219 | 10,446,294 | |
Broadcom, Inc. | 10,136 | 9,383,199 | |
Cirrus Logic, Inc. (a) | 9,486 | 720,082 | |
Intel Corp. | 605,372 | 27,060,128 | |
NVIDIA Corp. | 18,423 | 8,616,437 | |
Qorvo, Inc. (a) | 100,873 | 9,734,245 | |
Qualcomm, Inc. | 82,042 | 10,587,520 | |
76,547,905 | |||
Software - 3.0% | |||
Adobe, Inc. (a) | 14,162 | 8,653,124 | |
Box, Inc. Class A (a) | 28,031 | 733,571 | |
DocuSign, Inc. (a) | 211,287 | 9,106,470 | |
Dropbox, Inc. Class A (a)(b) | 88,224 | 2,486,152 | |
NCR Voyix Corp. (a) | 4,946 | 77,553 | |
Oracle Corp. | 349 | 40,557 | |
Salesforce, Inc. (a) | 63,112 | 15,897,913 | |
SolarWinds, Inc. (a) | 29,348 | 340,143 | |
Synopsys, Inc. (a) | 4,660 | 2,531,452 | |
Teradata Corp. (a) | 193,968 | 9,164,988 | |
Unity Software, Inc. (a)(b) | 17,274 | 509,756 | |
Workday, Inc. Class A (a) | 5,743 | 1,554,745 | |
Zoom Video Communications, Inc. Class A (a) | 46,119 | 3,128,252 | |
54,224,676 | |||
Technology Hardware, Storage & Peripherals - 0.5% | |||
Apple, Inc. | 7,858 | 1,492,627 | |
NetApp, Inc. | 75,549 | 6,904,423 | |
8,397,050 | |||
TOTAL INFORMATION TECHNOLOGY | 185,191,111 | ||
MATERIALS - 3.7% | |||
Chemicals - 2.2% | |||
Air Products & Chemicals, Inc. | 30,450 | 8,238,248 | |
CF Industries Holdings, Inc. | 53,436 | 4,015,715 | |
Eastman Chemical Co. | 81,196 | 6,806,661 | |
Ecolab, Inc. | 28,915 | 5,543,873 | |
Linde PLC | 23,113 | 9,563,466 | |
PPG Industries, Inc. | 19,889 | 2,824,039 | |
Sherwin-Williams Co. | 7,107 | 1,981,432 | |
The Chemours Co. LLC | 18,944 | 519,634 | |
39,493,068 | |||
Construction Materials - 0.4% | |||
Eagle Materials, Inc. | 4,378 | 792,637 | |
Vulcan Materials Co. | 28,160 | 6,013,850 | |
6,806,487 | |||
Containers & Packaging - 0.2% | |||
Sealed Air Corp. | 100,454 | 3,353,155 | |
Metals & Mining - 0.9% | |||
Carpenter Technology Corp. | 9,575 | 678,006 | |
Commercial Metals Co. | 1,874 | 84,948 | |
Nucor Corp. | 81,818 | 13,906,605 | |
Steel Dynamics, Inc. | 11,201 | 1,334,375 | |
Worthington Enterprises, Inc. | 8,155 | 584,714 | |
16,588,648 | |||
TOTAL MATERIALS | 66,241,358 | ||
REAL ESTATE - 4.1% | |||
Equity Real Estate Investment Trusts (REITs) - 3.9% | |||
Agree Realty Corp. | 34,410 | 2,037,416 | |
American Homes 4 Rent Class A | 163,992 | 5,947,990 | |
American Tower Corp. | 3,391 | 707,973 | |
Apartment Income (REIT) Corp. | 25,945 | 807,408 | |
Cousins Properties, Inc. | 34,716 | 712,372 | |
Crown Castle International Corp. | 100,631 | 11,802,004 | |
EastGroup Properties, Inc. | 4,802 | 834,348 | |
Federal Realty Investment Trust (SBI) | 75,320 | 7,199,839 | |
Healthpeak Properties, Inc. | 165,012 | 2,858,008 | |
Highwoods Properties, Inc. (SBI) | 106,114 | 2,010,860 | |
Invitation Homes, Inc. | 325,356 | 10,853,876 | |
Kilroy Realty Corp. | 21,678 | 714,940 | |
Mid-America Apartment Communities, Inc. | 34,793 | 4,331,033 | |
NNN (REIT), Inc. | 65,567 | 2,663,332 | |
Park Hotels & Resorts, Inc. | 134,879 | 2,000,256 | |
Prologis (REIT), Inc. | 4,343 | 499,141 | |
Public Storage | 18,029 | 4,665,184 | |
SBA Communications Corp. Class A | 21,587 | 5,331,126 | |
Terreno Realty Corp. | 52,179 | 2,979,943 | |
VICI Properties, Inc. | 40,021 | 1,196,228 | |
70,153,277 | |||
Real Estate Management & Development - 0.2% | |||
Zillow Group, Inc.: | |||
Class A (a) | 20,820 | 820,100 | |
Class C (a) | 72,025 | 2,948,704 | |
3,768,804 | |||
TOTAL REAL ESTATE | 73,922,081 | ||
UTILITIES - 3.1% | |||
Electric Utilities - 1.6% | |||
Allete, Inc. | 29,988 | 1,663,734 | |
Constellation Energy Corp. | 27,198 | 3,292,046 | |
Duke Energy Corp. | 40,457 | 3,733,372 | |
Entergy Corp. | 10,974 | 1,112,873 | |
Evergy, Inc. | 50,718 | 2,588,647 | |
Hawaiian Electric Industries, Inc. (b) | 15,116 | 184,264 | |
NextEra Energy, Inc. | 206,269 | 12,068,799 | |
OGE Energy Corp. | 31,224 | 1,094,401 | |
Xcel Energy, Inc. | 53,076 | 3,229,144 | |
28,967,280 | |||
Gas Utilities - 0.2% | |||
New Jersey Resources Corp. | 12,327 | 520,199 | |
UGI Corp. | 111,067 | 2,442,363 | |
2,962,562 | |||
Independent Power and Renewable Electricity Producers - 0.3% | |||
Brookfield Renewable Corp. | 31,923 | 847,236 | |
Clearway Energy, Inc.: | |||
Class A | 16,293 | 385,655 | |
Class C | 109,866 | 2,743,354 | |
The AES Corp. | 28,712 | 494,134 | |
Vistra Corp. | 49,429 | 1,750,281 | |
6,220,660 | |||
Multi-Utilities - 1.0% | |||
Ameren Corp. | 46,341 | 3,595,598 | |
Black Hills Corp. | 51,624 | 2,663,282 | |
Consolidated Edison, Inc. | 32,451 | 2,924,160 | |
NiSource, Inc. | 208,488 | 5,345,632 | |
Public Service Enterprise Group, Inc. | 52,108 | 3,253,102 | |
WEC Energy Group, Inc. | 2,397 | 200,437 | |
17,982,211 | |||
TOTAL UTILITIES | 56,132,713 | ||
TOTAL COMMON STOCKS (Cost $1,758,424,498) | 1,790,369,839 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.32% to 5.33% 2/22/24 to 2/29/24 (d) (Cost $1,638,267) | 1,660,000 | 1,638,304 | |
Money Market Funds - 1.1% | |||
Shares | Value ($) | ||
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) (Cost $20,704,426) | 20,702,356 | 20,704,426 | |
TOTAL INVESTMENT IN SECURITIES - 101.0% (Cost $1,780,767,191) | 1,812,712,569 |
NET OTHER ASSETS (LIABILITIES) - (1.0)% | (18,250,806) |
NET ASSETS - 100.0% | 1,794,461,763 |
Legend
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(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 $1,660,000. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | 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 5.40% | - | 30,562,277 | 30,562,277 | 6,072 | - | - | - | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | - | 30,882,001 | 10,177,575 | 1,387 | - | - | 20,704,426 | 0.1% |
Total | - | 61,444,278 | 40,739,852 | 7,459 | - | - | 20,704,426 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. 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.
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.
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.
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