Quarterly Holdings Report
for
Fidelity® Fundamental Small-Mid Cap ETF
April 30, 2024
SOE-NPRT3-0624
1.9900257.103
Common Stocks - 98.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.8% | |||
Media - 0.8% | |||
Nexstar Media Group, Inc. Class A | 3,214 | 514,433 | |
CONSUMER DISCRETIONARY - 13.8% | |||
Automobile Components - 0.9% | |||
LCI Industries | 1,771 | 184,149 | |
Lear Corp. | 1,977 | 248,845 | |
Patrick Industries, Inc. | 1,077 | 112,536 | |
545,530 | |||
Diversified Consumer Services - 0.3% | |||
Laureate Education, Inc. Class A | 14,388 | 208,626 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Brinker International, Inc. (a) | 3,295 | 176,612 | |
Churchill Downs, Inc. | 4,567 | 589,143 | |
765,755 | |||
Household Durables - 3.0% | |||
Helen of Troy Ltd. (a) | 1,406 | 130,350 | |
KB Home | 5,249 | 339,925 | |
SharkNinja, Inc. | 7,078 | 454,974 | |
Tempur Sealy International, Inc. | 18,741 | 938,174 | |
1,863,423 | |||
Leisure Products - 1.1% | |||
BRP, Inc. | 3,216 | 216,340 | |
Brunswick Corp. | 6,350 | 512,064 | |
728,404 | |||
Specialty Retail - 5.1% | |||
Academy Sports & Outdoors, Inc. | 4,284 | 249,757 | |
AutoZone, Inc. (a) | 313 | 925,353 | |
Boot Barn Holdings, Inc. (a) | 3,754 | 399,688 | |
Dick's Sporting Goods, Inc. | 3,075 | 617,891 | |
Murphy U.S.A., Inc. | 1,932 | 799,500 | |
Upbound Group, Inc. | 6,599 | 204,635 | |
3,196,824 | |||
Textiles, Apparel & Luxury Goods - 2.2% | |||
Crocs, Inc. (a) | 5,938 | 738,509 | |
Gildan Activewear, Inc. | 5,457 | 189,140 | |
PVH Corp. | 3,990 | 434,112 | |
1,361,761 | |||
TOTAL CONSUMER DISCRETIONARY | 8,670,323 | ||
CONSUMER STAPLES - 3.8% | |||
Consumer Staples Distribution & Retail - 3.4% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 10,289 | 768,383 | |
Performance Food Group Co. (a) | 10,328 | 701,065 | |
U.S. Foods Holding Corp. (a) | 13,157 | 661,139 | |
2,130,587 | |||
Food Products - 0.4% | |||
Nomad Foods Ltd. | 13,690 | 247,241 | |
TOTAL CONSUMER STAPLES | 2,377,828 | ||
ENERGY - 6.7% | |||
Energy Equipment & Services - 3.8% | |||
Cactus, Inc. | 12,342 | 612,657 | |
Championx Corp. | 8,078 | 271,178 | |
Expro Group Holdings NV (a) | 5,693 | 106,801 | |
Liberty Oilfield Services, Inc. Class A | 15,519 | 341,418 | |
TechnipFMC PLC | 41,404 | 1,060,770 | |
2,392,824 | |||
Oil, Gas & Consumable Fuels - 2.9% | |||
Antero Resources Corp. (a) | 29,280 | 995,813 | |
Cheniere Energy, Inc. | 3,505 | 553,159 | |
Northern Oil & Gas, Inc. | 5,899 | 240,620 | |
Sitio Royalties Corp. | 1,624 | 37,742 | |
1,827,334 | |||
TOTAL ENERGY | 4,220,158 | ||
FINANCIALS - 15.7% | |||
Banks - 5.7% | |||
BOK Financial Corp. | 3,103 | 275,329 | |
Cadence Bank | 13,276 | 367,347 | |
Eastern Bankshares, Inc. | 21,786 | 273,632 | |
First Bancorp, Puerto Rico | 12,621 | 217,712 | |
First Citizens Bancshares, Inc. | 246 | 414,943 | |
First Interstate Bancsystem, Inc. | 8,942 | 238,751 | |
Independent Bank Group, Inc. | 3,507 | 130,601 | |
M&T Bank Corp. | 1,182 | 170,669 | |
Pinnacle Financial Partners, Inc. | 5,132 | 393,624 | |
Synovus Financial Corp. | 10,996 | 393,547 | |
Trico Bancshares | 1,296 | 45,062 | |
Webster Financial Corp. | 8,353 | 366,112 | |
Wintrust Financial Corp. | 3,340 | 322,778 | |
3,610,107 | |||
Capital Markets - 2.3% | |||
Houlihan Lokey | 3,089 | 393,817 | |
LPL Financial | 2,490 | 670,134 | |
Raymond James Financial, Inc. | 2,939 | 358,558 | |
1,422,509 | |||
Consumer Finance - 1.8% | |||
Discover Financial Services | 4,412 | 559,133 | |
Encore Capital Group, Inc. (a) | 2,055 | 84,440 | |
FirstCash Holdings, Inc. | 4,210 | 475,646 | |
1,119,219 | |||
Insurance - 5.9% | |||
American Financial Group, Inc. | 2,553 | 326,146 | |
Arch Capital Group Ltd. (a) | 8,986 | 840,550 | |
Assurant, Inc. | 3,174 | 553,546 | |
Enstar Group Ltd. (a) | 743 | 215,745 | |
First American Financial Corp. | 8,761 | 469,327 | |
Old Republic International Corp. | 18,791 | 561,099 | |
Primerica, Inc. | 1,758 | 372,450 | |
Reinsurance Group of America, Inc. | 2,185 | 408,573 | |
3,747,436 | |||
TOTAL FINANCIALS | 9,899,271 | ||
HEALTH CARE - 9.5% | |||
Biotechnology - 2.2% | |||
ALX Oncology Holdings, Inc. (a) | 263 | 4,476 | |
Arcellx, Inc. (a) | 1,265 | 63,275 | |
Argenx SE ADR (a) | 525 | 197,138 | |
Astria Therapeutics, Inc. (a) | 6,404 | 58,789 | |
Cargo Therapeutics, Inc. | 2,426 | 46,337 | |
Celldex Therapeutics, Inc. (a) | 1,951 | 73,006 | |
Crinetics Pharmaceuticals, Inc. (a) | 2,519 | 110,383 | |
Cytokinetics, Inc. (a) | 1,545 | 94,739 | |
Insmed, Inc. (a) | 3,763 | 93,021 | |
Keros Therapeutics, Inc. (a) | 233 | 13,139 | |
Madrigal Pharmaceuticals, Inc. (a) | 501 | 102,214 | |
Moonlake Immunotherapeutics (a) | 1,003 | 41,033 | |
Morphic Holding, Inc. (a) | 967 | 26,370 | |
Nuvalent, Inc. Class A (a) | 992 | 68,329 | |
Repligen Corp. (a) | 931 | 152,870 | |
Vaxcyte, Inc. (a) | 938 | 56,796 | |
Vericel Corp. (a) | 1,887 | 86,557 | |
Xenon Pharmaceuticals, Inc. (a) | 1,420 | 57,723 | |
Zentalis Pharmaceuticals, Inc. (a) | 921 | 10,186 | |
1,356,381 | |||
Health Care Equipment & Supplies - 1.0% | |||
Hologic, Inc. (a) | 4,935 | 373,925 | |
TransMedics Group, Inc. (a) | 2,686 | 252,833 | |
626,758 | |||
Health Care Providers & Services - 4.5% | |||
Acadia Healthcare Co., Inc. (a) | 5,688 | 420,571 | |
Cardinal Health, Inc. | 3,542 | 364,968 | |
Molina Healthcare, Inc. (a) | 2,233 | 763,909 | |
Owens & Minor, Inc. (a) | 7,124 | 176,248 | |
Progyny, Inc. (a) | 10,431 | 334,418 | |
Universal Health Services, Inc. Class B | 4,561 | 777,331 | |
2,837,445 | |||
Life Sciences Tools & Services - 1.5% | |||
10X Genomics, Inc. (a) | 755 | 22,106 | |
Charles River Laboratories International, Inc. (a) | 1,826 | 418,154 | |
ICON PLC (a) | 241 | 71,789 | |
Medpace Holdings, Inc. (a) | 1,172 | 455,146 | |
967,195 | |||
Pharmaceuticals - 0.3% | |||
Arvinas Holding Co. LLC (a) | 1,243 | 39,490 | |
Axsome Therapeutics, Inc. (a) | 803 | 59,229 | |
Prestige Brands Holdings, Inc. (a) | 614 | 44,061 | |
Structure Therapeutics, Inc. ADR (a) | 834 | 32,893 | |
175,673 | |||
TOTAL HEALTH CARE | 5,963,452 | ||
INDUSTRIALS - 24.7% | |||
Building Products - 1.2% | |||
Hayward Holdings, Inc. (a) | 23,195 | 314,988 | |
Tecnoglass, Inc. | 8,386 | 465,842 | |
780,830 | |||
Commercial Services & Supplies - 0.5% | |||
The Brink's Co. | 3,367 | 294,478 | |
Construction & Engineering - 3.5% | |||
AECOM | 4,511 | 416,636 | |
EMCOR Group, Inc. | 2,914 | 1,040,793 | |
Granite Construction, Inc. | 8,428 | 467,754 | |
Willscot Mobile Mini Holdings (a) | 6,676 | 246,745 | |
2,171,928 | |||
Electrical Equipment - 5.3% | |||
Acuity Brands, Inc. | 2,048 | 508,518 | |
AMETEK, Inc. | 3,055 | 533,586 | |
Atkore, Inc. | 3,127 | 548,163 | |
Regal Rexnord Corp. | 4,262 | 687,759 | |
Vertiv Holdings Co. | 11,549 | 1,074,057 | |
3,352,083 | |||
Ground Transportation - 2.2% | |||
TFI International, Inc. | 6,147 | 800,893 | |
XPO, Inc. (a) | 5,650 | 607,149 | |
1,408,042 | |||
Machinery - 4.8% | |||
Allison Transmission Holdings, Inc. | 5,624 | 413,645 | |
Crane Co. | 4,539 | 635,505 | |
Federal Signal Corp. | 4,547 | 369,671 | |
ITT, Inc. | 5,534 | 715,768 | |
SPX Technologies, Inc. (a) | 4,917 | 598,940 | |
Terex Corp. | 5,663 | 317,411 | |
3,050,940 | |||
Professional Services - 4.6% | |||
ASGN, Inc. (a) | 4,907 | 473,280 | |
CACI International, Inc. Class A (a) | 1,496 | 601,736 | |
Concentrix Corp. | 3,879 | 212,065 | |
ExlService Holdings, Inc. (a) | 10,766 | 312,214 | |
Genpact Ltd. | 12,986 | 399,190 | |
KBR, Inc. | 6,554 | 425,617 | |
Kforce, Inc. | 2,056 | 126,979 | |
Maximus, Inc. | 4,656 | 373,784 | |
2,924,865 | |||
Trading Companies & Distributors - 2.6% | |||
Applied Industrial Technologies, Inc. | 2,714 | 497,341 | |
Beacon Roofing Supply, Inc. (a) | 4,836 | 476,491 | |
Core & Main, Inc. (a) | 7,606 | 429,511 | |
Rush Enterprises, Inc. Class A | 4,649 | 204,184 | |
1,607,527 | |||
TOTAL INDUSTRIALS | 15,590,693 | ||
INFORMATION TECHNOLOGY - 12.5% | |||
Communications Equipment - 0.9% | |||
Ciena Corp. (a) | 7,618 | 352,180 | |
Lumentum Holdings, Inc. (a) | 4,904 | 214,599 | |
566,779 | |||
Electronic Equipment, Instruments & Components - 5.0% | |||
Advanced Energy Industries, Inc. | 4,347 | 416,616 | |
Crane NXT Co. | 4,527 | 275,287 | |
Fabrinet (a) | 3,590 | 621,321 | |
Flex Ltd. (a) | 7,200 | 206,280 | |
Insight Enterprises, Inc. (a) | 3,385 | 617,999 | |
TD SYNNEX Corp. | 4,450 | 524,388 | |
Vontier Corp. | 12,296 | 499,586 | |
3,161,477 | |||
IT Services - 1.0% | |||
Amdocs Ltd. | 7,363 | 618,418 | |
Semiconductors & Semiconductor Equipment - 2.8% | |||
Allegro MicroSystems LLC (a) | 7,113 | 211,185 | |
Diodes, Inc. (a) | 2,882 | 210,415 | |
Ichor Holdings Ltd. (a) | 6,000 | 232,680 | |
Lattice Semiconductor Corp. (a) | 4,112 | 282,083 | |
MACOM Technology Solutions Holdings, Inc. (a) | 3,579 | 364,879 | |
ON Semiconductor Corp. (a) | 6,441 | 451,901 | |
1,753,143 | |||
Software - 2.1% | |||
Dynatrace, Inc. (a) | 8,494 | 384,863 | |
Five9, Inc. (a) | 3,613 | 208,000 | |
JFrog Ltd. (a) | 5,795 | 231,105 | |
PROS Holdings, Inc. (a) | 5,458 | 178,750 | |
Tenable Holdings, Inc. (a) | 7,576 | 340,693 | |
1,343,411 | |||
Technology Hardware, Storage & Peripherals - 0.7% | |||
Seagate Technology Holdings PLC | 5,293 | 454,722 | |
TOTAL INFORMATION TECHNOLOGY | 7,897,950 | ||
MATERIALS - 6.5% | |||
Chemicals - 2.3% | |||
Cabot Corp. | 3,704 | 337,916 | |
Element Solutions, Inc. | 14,049 | 324,953 | |
Olin Corp. | 6,536 | 341,702 | |
The Chemours Co. LLC | 16,202 | 433,404 | |
1,437,975 | |||
Construction Materials - 1.1% | |||
Eagle Materials, Inc. | 2,704 | 677,920 | |
Containers & Packaging - 1.1% | |||
Graphic Packaging Holding Co. | 16,462 | 425,543 | |
O-I Glass, Inc. (a) | 19,814 | 296,417 | |
721,960 | |||
Metals & Mining - 1.5% | |||
Commercial Metals Co. | 7,553 | 405,898 | |
Constellium NV (a) | 6,042 | 118,967 | |
Steel Dynamics, Inc. | 3,073 | 399,859 | |
924,724 | |||
Paper & Forest Products - 0.5% | |||
Louisiana-Pacific Corp. | 4,272 | 312,668 | |
TOTAL MATERIALS | 4,075,247 | ||
REAL ESTATE - 3.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.1% | |||
Essential Properties Realty Trust, Inc. | 11,368 | 299,433 | |
Ventas, Inc. | 8,376 | 370,889 | |
670,322 | |||
Real Estate Management & Development - 2.0% | |||
Colliers International Group, Inc. | 5,178 | 538,719 | |
Cushman & Wakefield PLC (a) | 25,479 | 245,872 | |
Jones Lang LaSalle, Inc. (a) | 2,811 | 507,948 | |
1,292,539 | |||
TOTAL REAL ESTATE | 1,962,861 | ||
UTILITIES - 1.8% | |||
Electric Utilities - 0.7% | |||
PG&E Corp. | 25,667 | 439,162 | |
Gas Utilities - 0.5% | |||
Brookfield Infrastructure Corp. A Shares | 9,358 | 285,138 | |
Independent Power and Renewable Electricity Producers - 0.6% | |||
The AES Corp. | 22,750 | 407,225 | |
TOTAL UTILITIES | 1,131,525 | ||
TOTAL COMMON STOCKS (Cost $53,678,998) | 62,303,741 | ||
TOTAL INVESTMENT IN SECURITIES - 98.9% (Cost $53,678,998) | 62,303,741 |
NET OTHER ASSETS (LIABILITIES) - 1.1% | 664,389 |
NET ASSETS - 100.0% | 62,968,130 |
Legend
(a) | Non-income producing |
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.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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