UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21990
Fidelity Commonwealth Trust II
(Exact name of registrant as specified in charter)
82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)
Marc Bryant, Secretary
82 Devonshire St.
Boston, Massachusetts 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-563-7000
|
Date of fiscal year end: |
February 28 |
|
|
|
|
Date of reporting period: |
August 31, 2012 |
Item 1. Reports to Stockholders
Fidelity® Large Cap Growth Enhanced Index Fund
Fidelity Large Cap Value Enhanced Index Fund
Fidelity Large Cap Core Enhanced Index Fund
Fidelity Mid Cap Enhanced Index Fund
Fidelity Small Cap Enhanced Index Fund
Fidelity International Enhanced Index Fund
Semiannual Report
(Fidelity Cover Art)
August 31, 2012
Contents
|
Shareholder Expense Example |
An example of shareholder expenses |
|
|
|
||
|
Fidelity® Large Cap Growth Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
||
|
Fidelity Large Cap Value Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
||
|
Fidelity Large Cap Core Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
|
|
|
Fidelity Mid Cap Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
||
|
Fidelity Small Cap Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
||
|
Fidelity International Enhanced Index Fund |
Investment Changes |
|
|
|
Investments |
|
|
|
Financial Statements |
|
|
|
||
|
Notes |
Notes to the Financial Statements |
|
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2012 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the funds. This report is not authorized for distribution to prospective investors in the funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
Neither the funds nor Fidelity Distributors Corporation is a bank.
Semiannual Report
Shareholder Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including redemption fees and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2012 to August 31, 2012).
Actual Expenses
The first line of the accompanying table for each fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition to the direct expenses incurred by each Fund presented in the table, as a shareholder of the underlying non-affiliated funds (the Underlying Funds), each Fund also indirectly bears its proportionate share of the expenses of the Underlying Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimate in the table below. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table for each fund provides information about hypothetical account values and hypothetical expenses based on a fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. In addition to the direct expenses incurred by each Fund presented in the table, as a shareholder of the underlying non-affiliated funds (the Underlying Funds), each Fund also indirectly bears its proportionate share of the expenses of the Underlying Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimate in the table below. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
|
|
Annualized |
Beginning |
Ending |
Expenses Paid |
|
Fidelity Large Cap Growth Enhanced Index Fund |
.45% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 1,032.90 |
$ 2.31 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,022.94 |
$ 2.29 |
|
Fidelity Large Cap Value Enhanced Index Fund |
.45% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 1,041.50 |
$ 2.32 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,022.94 |
$ 2.29 |
|
Fidelity Large Cap Core Enhanced Index Fund |
.45% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 1,037.20 |
$ 2.31 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,022.94 |
$ 2.29 |
|
Fidelity Mid Cap Enhanced Index Fund |
.60% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 1,010.10 |
$ 3.04 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,022.18 |
$ 3.06 |
|
Fidelity Small Cap Enhanced Index Fund |
.67% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 1,011.00 |
$ 3.40 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,021.83 |
$ 3.41 |
|
Fidelity International Enhanced Index Fund |
.62% |
|
|
|
|
Actual |
|
$ 1,000.00 |
$ 971.40 |
$ 3.08 |
|
HypotheticalA |
|
$ 1,000.00 |
$ 1,022.08 |
$ 3.16 |
A 5% return per year before expenses
* Expenses are equal to each Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
Semiannual Report
Fidelity Large Cap Growth Enhanced Index Fund
Investment Changes (Unaudited)
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Apple, Inc. |
8.5 |
7.2 |
|
Microsoft Corp. |
3.4 |
3.6 |
|
IBM Corp. |
2.7 |
2.9 |
|
Google, Inc. Class A |
2.6 |
2.4 |
|
Philip Morris International, Inc. |
2.2 |
2.2 |
|
Oracle Corp. |
2.0 |
1.8 |
|
Verizon Communications, Inc. |
1.9 |
0.4 |
|
The Coca-Cola Co. |
1.6 |
1.6 |
|
Wal-Mart Stores, Inc. |
1.6 |
1.1 |
|
Intel Corp. |
1.5 |
0.3 |
|
|
28.0 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Information Technology |
30.6 |
30.0 |
|
Consumer Discretionary |
14.7 |
13.8 |
|
Consumer Staples |
12.8 |
10.5 |
|
Health Care |
11.6 |
11.0 |
|
Industrials |
10.3 |
12.7 |
|
Energy |
4.3 |
10.2 |
|
Financials |
3.9 |
3.3 |
|
Materials |
3.7 |
5.5 |
|
Telecommunication Services |
2.2 |
0.4 |
|
Utilities |
0.9 |
0.0 |
Semiannual Report
Fidelity Large Cap Growth Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 95.0% |
|||
|
Shares |
Value |
||
|
CONSUMER DISCRETIONARY - 14.7% |
|||
|
Auto Components - 0.6% |
|||
|
Delphi Automotive PLC |
19,357 |
$ 586,324 |
|
|
Lear Corp. |
11,904 |
462,232 |
|
|
|
1,048,556 |
||
|
Automobiles - 0.0% |
|||
|
Ford Motor Co. |
704 |
6,575 |
|
|
Distributors - 0.3% |
|||
|
Genuine Parts Co. |
8,971 |
566,608 |
|
|
Diversified Consumer Services - 0.3% |
|||
|
Apollo Group, Inc. Class A (non-vtg.) (a)(e) |
18,100 |
485,985 |
|
|
Hotels, Restaurants & Leisure - 2.1% |
|||
|
McDonald's Corp. |
17,316 |
1,549,609 |
|
|
Starbucks Corp. |
25,573 |
1,268,677 |
|
|
Wynn Resorts Ltd. |
5,735 |
591,680 |
|
|
Yum! Brands, Inc. |
2,116 |
134,832 |
|
|
|
3,544,798 |
||
|
Household Durables - 0.7% |
|||
|
Garmin Ltd. (e) |
11,568 |
466,769 |
|
|
PulteGroup, Inc. (a)(e) |
45,564 |
623,316 |
|
|
|
1,090,085 |
||
|
Internet & Catalog Retail - 1.0% |
|||
|
Amazon.com, Inc. (a) |
5,940 |
1,474,486 |
|
|
Priceline.com, Inc. (a) |
415 |
250,897 |
|
|
|
1,725,383 |
||
|
Leisure Equipment & Products - 0.4% |
|||
|
Polaris Industries, Inc. |
8,648 |
650,243 |
|
|
Media - 3.2% |
|||
|
Comcast Corp. Class A |
13,620 |
456,679 |
|
|
DIRECTV (a) |
22,406 |
1,167,129 |
|
|
DISH Network Corp. Class A |
22,572 |
722,078 |
|
|
McGraw-Hill Companies, Inc. |
18,240 |
933,888 |
|
|
News Corp. Class A |
12,817 |
299,790 |
|
|
Scripps Networks Interactive, Inc. Class A |
11,200 |
661,920 |
|
|
The Walt Disney Co. |
5,066 |
250,615 |
|
|
Time Warner Cable, Inc. |
963 |
85,534 |
|
|
Viacom, Inc. Class B (non-vtg.) |
16,153 |
807,812 |
|
|
|
5,385,445 |
||
|
Multiline Retail - 1.1% |
|||
|
Dollar General Corp. (a) |
13,700 |
699,659 |
|
|
Dollar Tree, Inc. (a) |
11,240 |
541,431 |
|
|
Macy's, Inc. |
14,800 |
596,588 |
|
|
Nordstrom, Inc. |
100 |
5,783 |
|
|
Target Corp. |
80 |
5,127 |
|
|
|
1,848,588 |
||
|
Specialty Retail - 4.8% |
|||
|
Advance Auto Parts, Inc. |
7,606 |
540,939 |
|
|
AutoZone, Inc. (a) |
44 |
15,912 |
|
|
Bed Bath & Beyond, Inc. (a) |
13,100 |
879,927 |
|
|
Foot Locker, Inc. |
18,702 |
646,528 |
|
|
|
|||
|
Shares |
Value |
||
|
Gap, Inc. (e) |
19,300 |
$ 691,326 |
|
|
Home Depot, Inc. |
29,610 |
1,680,368 |
|
|
Limited Brands, Inc. |
16,663 |
809,822 |
|
|
O'Reilly Automotive, Inc. (a) |
100 |
8,495 |
|
|
PetSmart, Inc. |
11,000 |
780,120 |
|
|
Ross Stores, Inc. |
8,838 |
611,501 |
|
|
TJX Companies, Inc. |
29,500 |
1,350,805 |
|
|
|
8,015,743 |
||
|
Textiles, Apparel & Luxury Goods - 0.2% |
|||
|
Coach, Inc. |
1,259 |
73,186 |
|
|
NIKE, Inc. Class B |
2,700 |
262,872 |
|
|
|
336,058 |
||
|
TOTAL CONSUMER DISCRETIONARY |
24,704,067 |
||
|
CONSUMER STAPLES - 12.8% |
|||
|
Beverages - 3.7% |
|||
|
Brown-Forman Corp. Class B (non-vtg.) |
1,941 |
124,418 |
|
|
Dr Pepper Snapple Group, Inc. |
16,039 |
718,708 |
|
|
Monster Beverage Corp. (a) |
11,649 |
686,476 |
|
|
PepsiCo, Inc. |
28,013 |
2,028,982 |
|
|
The Coca-Cola Co. |
73,460 |
2,747,404 |
|
|
|
6,305,988 |
||
|
Food & Staples Retailing - 3.7% |
|||
|
Costco Wholesale Corp. |
4,639 |
454,019 |
|
|
CVS Caremark Corp. |
5,000 |
227,750 |
|
|
Kroger Co. |
35,040 |
780,691 |
|
|
Safeway, Inc. |
26,799 |
419,404 |
|
|
Wal-Mart Stores, Inc. |
37,334 |
2,710,448 |
|
|
Walgreen Co. |
19,697 |
704,365 |
|
|
Whole Foods Market, Inc. |
9,416 |
910,998 |
|
|
|
6,207,675 |
||
|
Food Products - 0.6% |
|||
|
Bunge Ltd. |
157 |
9,993 |
|
|
ConAgra Foods, Inc. |
18,081 |
454,014 |
|
|
Hormel Foods Corp. (e) |
18,871 |
541,975 |
|
|
|
1,005,982 |
||
|
Household Products - 1.4% |
|||
|
Church & Dwight Co., Inc. |
11,278 |
617,358 |
|
|
Colgate-Palmolive Co. |
5,143 |
546,752 |
|
|
Kimberly-Clark Corp. |
13,733 |
1,148,079 |
|
|
|
2,312,189 |
||
|
Tobacco - 3.4% |
|||
|
Altria Group, Inc. |
21,731 |
737,985 |
|
|
Lorillard, Inc. |
6,900 |
866,019 |
|
|
Philip Morris International, Inc. |
40,659 |
3,630,849 |
|
|
Reynolds American, Inc. |
11,526 |
531,349 |
|
|
|
5,766,202 |
||
|
TOTAL CONSUMER STAPLES |
21,598,036 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
ENERGY - 4.3% |
|||
|
Energy Equipment & Services - 2.0% |
|||
|
Diamond Offshore Drilling, Inc. (e) |
8,144 |
$ 545,811 |
|
|
Halliburton Co. |
10,595 |
347,092 |
|
|
Helmerich & Payne, Inc. |
1,002 |
45,731 |
|
|
National Oilwell Varco, Inc. |
9,606 |
756,953 |
|
|
Schlumberger Ltd. |
22,373 |
1,619,358 |
|
|
|
3,314,945 |
||
|
Oil, Gas & Consumable Fuels - 2.3% |
|||
|
Denbury Resources, Inc. (a) |
500 |
7,745 |
|
|
EOG Resources, Inc. |
774 |
83,824 |
|
|
Exxon Mobil Corp. |
3,428 |
299,264 |
|
|
HollyFrontier Corp. |
18,931 |
762,730 |
|
|
Marathon Petroleum Corp. |
14,560 |
753,480 |
|
|
Murphy Oil Corp. |
11,619 |
596,403 |
|
|
Phillips 66 |
15,998 |
671,916 |
|
|
Western Refining, Inc. |
24,500 |
685,265 |
|
|
|
3,860,627 |
||
|
TOTAL ENERGY |
7,175,572 |
||
|
FINANCIALS - 3.9% |
|||
|
Capital Markets - 0.8% |
|||
|
Goldman Sachs Group, Inc. |
5,384 |
569,196 |
|
|
Morgan Stanley |
400 |
6,000 |
|
|
SEI Investments Co. (e) |
30,022 |
652,979 |
|
|
Waddell & Reed Financial, Inc. Class A |
6,600 |
195,360 |
|
|
|
1,423,535 |
||
|
Commercial Banks - 0.8% |
|||
|
Fifth Third Bancorp |
38,400 |
581,376 |
|
|
Wells Fargo & Co. |
20,509 |
697,921 |
|
|
|
1,279,297 |
||
|
Consumer Finance - 1.2% |
|||
|
American Express Co. |
23,772 |
1,385,908 |
|
|
Discover Financial Services |
18,506 |
716,737 |
|
|
|
2,102,645 |
||
|
Diversified Financial Services - 0.0% |
|||
|
Bank of America Corp. |
906 |
7,239 |
|
|
The NASDAQ Stock Market, Inc. |
300 |
6,861 |
|
|
|
14,100 |
||
|
Insurance - 0.1% |
|||
|
Validus Holdings Ltd. |
5,266 |
176,464 |
|
|
Real Estate Investment Trusts - 1.0% |
|||
|
American Campus Communities, Inc. |
200 |
9,324 |
|
|
American Capital Agency Corp. (e) |
6,672 |
232,452 |
|
|
American Tower Corp. |
2,102 |
147,981 |
|
|
Public Storage |
4,447 |
647,305 |
|
|
|
|||
|
Shares |
Value |
||
|
Simon Property Group, Inc. |
2,520 |
$ 399,924 |
|
|
Two Harbors Investment Corp. |
15,100 |
175,009 |
|
|
|
1,611,995 |
||
|
TOTAL FINANCIALS |
6,608,036 |
||
|
HEALTH CARE - 11.6% |
|||
|
Biotechnology - 3.2% |
|||
|
Amgen, Inc. |
24,335 |
2,042,193 |
|
|
Biogen Idec, Inc. (a) |
2,190 |
321,032 |
|
|
Celgene Corp. (a) |
16,114 |
1,160,853 |
|
|
Gilead Sciences, Inc. (a) |
7,105 |
409,887 |
|
|
Pharmacyclics, Inc. (a) |
9,979 |
667,795 |
|
|
United Therapeutics Corp. (a)(e) |
13,757 |
744,529 |
|
|
|
5,346,289 |
||
|
Health Care Equipment & Supplies - 0.8% |
|||
|
Baxter International, Inc. |
2,119 |
124,343 |
|
|
Medtronic, Inc. |
8,727 |
354,840 |
|
|
Sirona Dental Systems, Inc. (a) |
200 |
10,628 |
|
|
St. Jude Medical, Inc. |
21,116 |
797,340 |
|
|
Stryker Corp. |
351 |
18,694 |
|
|
Thoratec Corp. (a) |
259 |
8,778 |
|
|
|
1,314,623 |
||
|
Health Care Providers & Services - 2.9% |
|||
|
Aetna, Inc. |
14,923 |
573,192 |
|
|
AmerisourceBergen Corp. |
6,535 |
251,728 |
|
|
Cardinal Health, Inc. |
16,648 |
658,428 |
|
|
Catamaran Corp. (a) |
100 |
8,680 |
|
|
Express Scripts Holding Co. (a) |
9,349 |
585,434 |
|
|
Humana, Inc. |
6,752 |
473,180 |
|
|
McKesson Corp. |
11,549 |
1,006,033 |
|
|
Omnicare, Inc. |
3,000 |
97,140 |
|
|
UnitedHealth Group, Inc. |
10,259 |
557,064 |
|
|
WellPoint, Inc. |
10,387 |
621,870 |
|
|
|
4,832,749 |
||
|
Health Care Technology - 0.0% |
|||
|
Allscripts Healthcare Solutions, Inc. (a) |
500 |
5,250 |
|
|
Life Sciences Tools & Services - 0.4% |
|||
|
Agilent Technologies, Inc. |
20,292 |
754,051 |
|
|
Charles River Laboratories International, Inc. (a) |
200 |
7,264 |
|
|
|
761,315 |
||
|
Pharmaceuticals - 4.3% |
|||
|
Abbott Laboratories |
37,905 |
2,484,294 |
|
|
Allergan, Inc. |
889 |
76,570 |
|
|
Bristol-Myers Squibb Co. |
42,300 |
1,396,323 |
|
|
Eli Lilly & Co. |
20,697 |
929,502 |
|
|
Johnson & Johnson (e) |
18,886 |
1,273,483 |
|
|
Merck & Co., Inc. |
10,072 |
433,600 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
HEALTH CARE - continued |
|||
|
Pharmaceuticals - continued |
|||
|
Questcor Pharmaceuticals, Inc. (a)(e) |
14,504 |
$ 630,054 |
|
|
Sanofi SA rights (a) |
691 |
967 |
|
|
|
7,224,793 |
||
|
TOTAL HEALTH CARE |
19,485,019 |
||
|
INDUSTRIALS - 10.3% |
|||
|
Aerospace & Defense - 3.6% |
|||
|
General Dynamics Corp. |
5,646 |
369,869 |
|
|
Honeywell International, Inc. |
9,275 |
542,124 |
|
|
L-3 Communications Holdings, Inc. |
4,104 |
288,265 |
|
|
Lockheed Martin Corp. |
10,949 |
997,892 |
|
|
Northrop Grumman Corp. |
8,621 |
576,659 |
|
|
Precision Castparts Corp. |
100 |
16,108 |
|
|
Raytheon Co. (e) |
10,044 |
567,687 |
|
|
Textron, Inc. |
20,400 |
545,088 |
|
|
The Boeing Co. |
8,713 |
622,108 |
|
|
United Technologies Corp. |
18,334 |
1,463,970 |
|
|
|
5,989,770 |
||
|
Air Freight & Logistics - 0.4% |
|||
|
United Parcel Service, Inc. Class B |
9,234 |
681,562 |
|
|
Airlines - 0.7% |
|||
|
Copa Holdings SA Class A |
6,933 |
538,209 |
|
|
Southwest Airlines Co. (e) |
61,900 |
553,386 |
|
|
|
1,091,595 |
||
|
Electrical Equipment - 0.4% |
|||
|
Emerson Electric Co. |
3,672 |
186,244 |
|
|
Hubbell, Inc. Class B |
6,906 |
558,143 |
|
|
|
744,387 |
||
|
Industrial Conglomerates - 1.4% |
|||
|
3M Co. |
19,140 |
1,772,364 |
|
|
General Electric Co. |
27,029 |
559,771 |
|
|
|
2,332,135 |
||
|
Machinery - 2.1% |
|||
|
Caterpillar, Inc. (e) |
8,980 |
766,263 |
|
|
Cummins, Inc. (e) |
8,830 |
857,481 |
|
|
Deere & Co. (e) |
2,849 |
213,988 |
|
|
Kennametal, Inc. |
100 |
3,684 |
|
|
Lincoln Electric Holdings, Inc. (e) |
12,911 |
532,579 |
|
|
Timken Co. |
14,626 |
587,380 |
|
|
Toro Co. |
200 |
7,440 |
|
|
Wabtec Corp. |
7,700 |
601,678 |
|
|
|
3,570,493 |
||
|
Professional Services - 0.7% |
|||
|
Equifax, Inc. |
11,259 |
515,437 |
|
|
|
|||
|
Shares |
Value |
||
|
Robert Half International, Inc. |
20,974 |
$ 551,616 |
|
|
Towers Watson & Co. |
1,300 |
70,616 |
|
|
|
1,137,669 |
||
|
Road & Rail - 1.0% |
|||
|
CSX Corp. |
36,536 |
820,599 |
|
|
Union Pacific Corp. |
7,612 |
924,401 |
|
|
|
1,745,000 |
||
|
TOTAL INDUSTRIALS |
17,292,611 |
||
|
INFORMATION TECHNOLOGY - 30.6% |
|||
|
Communications Equipment - 1.4% |
|||
|
Cisco Systems, Inc. |
30,770 |
587,092 |
|
|
QUALCOMM, Inc. |
29,423 |
1,808,338 |
|
|
|
2,395,430 |
||
|
Computers & Peripherals - 9.7% |
|||
|
Apple, Inc. |
21,488 |
14,294,667 |
|
|
Dell, Inc. |
55,310 |
585,733 |
|
|
EMC Corp. (a) |
27,693 |
728,049 |
|
|
QLogic Corp. (a) |
444 |
5,403 |
|
|
Western Digital Corp. (a)(e) |
15,715 |
657,201 |
|
|
|
16,271,053 |
||
|
Electronic Equipment & Components - 0.1% |
|||
|
Dolby Laboratories, Inc. Class A (a)(e) |
4,200 |
139,356 |
|
|
Internet Software & Services - 3.3% |
|||
|
AOL, Inc. (a)(e) |
14,501 |
488,249 |
|
|
eBay, Inc. (a) |
14,880 |
706,354 |
|
|
Google, Inc. Class A (a) |
6,285 |
4,305,791 |
|
|
|
5,500,394 |
||
|
IT Services - 6.7% |
|||
|
Accenture PLC Class A |
22,213 |
1,368,321 |
|
|
Automatic Data Processing, Inc. |
2,599 |
150,950 |
|
|
DST Systems, Inc. |
100 |
5,088 |
|
|
Fidelity National Information Services, Inc. |
7,404 |
233,226 |
|
|
Fiserv, Inc. (a) |
5,447 |
388,426 |
|
|
IBM Corp. |
23,089 |
4,498,892 |
|
|
Lender Processing Services, Inc. |
23,932 |
671,771 |
|
|
MasterCard, Inc. Class A |
3,487 |
1,474,652 |
|
|
The Western Union Co. |
25,300 |
445,533 |
|
|
Total System Services, Inc. |
26,282 |
609,217 |
|
|
Visa, Inc. Class A |
11,462 |
1,470,002 |
|
|
|
11,316,078 |
||
|
Semiconductors & Semiconductor Equipment - 3.4% |
|||
|
Avago Technologies Ltd. |
20,744 |
758,608 |
|
|
Intel Corp. |
101,379 |
2,517,241 |
|
|
KLA-Tencor Corp. |
12,957 |
664,824 |
|
|
LSI Corp. (a) |
1,645 |
12,815 |
|
|
Marvell Technology Group Ltd. |
37,872 |
385,537 |
|
|
Maxim Integrated Products, Inc. |
25,595 |
694,648 |
|
|
NVIDIA Corp. (a) |
46,948 |
658,680 |
|
|
|
5,692,353 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INFORMATION TECHNOLOGY - continued |
|||
|
Software - 6.0% |
|||
|
Activision Blizzard, Inc. |
45,182 |
$ 531,340 |
|
|
CA Technologies, Inc. |
19,955 |
519,429 |
|
|
Microsoft Corp. |
186,991 |
5,763,063 |
|
|
Oracle Corp. |
102,809 |
3,253,905 |
|
|
|
10,067,737 |
||
|
TOTAL INFORMATION TECHNOLOGY |
51,382,401 |
||
|
MATERIALS - 3.7% |
|||
|
Chemicals - 3.7% |
|||
|
CF Industries Holdings, Inc. |
3,482 |
720,809 |
|
|
E.I. du Pont de Nemours & Co. (e) |
10,160 |
505,460 |
|
|
Eastman Chemical Co. |
14,009 |
774,137 |
|
|
FMC Corp. (e) |
228 |
12,385 |
|
|
Huntsman Corp. |
36,886 |
530,421 |
|
|
LyondellBasell Industries NV Class A |
13,614 |
664,908 |
|
|
Monsanto Co. |
18,361 |
1,599,427 |
|
|
PPG Industries, Inc. |
8,927 |
982,149 |
|
|
Praxair, Inc. |
1,735 |
183,043 |
|
|
The Mosaic Co. |
100 |
5,791 |
|
|
Valspar Corp. |
4,200 |
224,028 |
|
|
|
6,202,558 |
||
|
TELECOMMUNICATION SERVICES - 2.2% |
|||
|
Diversified Telecommunication Services - 2.2% |
|||
|
AT&T, Inc. |
14,734 |
539,854 |
|
|
Verizon Communications, Inc. |
74,302 |
3,190,528 |
|
|
|
3,730,382 |
||
|
UTILITIES - 0.9% |
|||
|
Electric Utilities - 0.6% |
|||
|
Cleco Corp. |
12,383 |
506,836 |
|
|
Duke Energy Corp. |
8,113 |
525,560 |
|
|
|
1,032,396 |
||
|
Multi-Utilities - 0.3% |
|||
|
CenterPoint Energy, Inc. |
25,652 |
523,044 |
|
|
TOTAL UTILITIES |
1,555,440 |
||
|
TOTAL COMMON STOCKS (Cost $136,894,996) |
|
||
|
U.S. Treasury Obligations - 0.2% |
||||
|
|
Principal Amount |
|
||
|
U.S. Treasury Bills, yield at date of purchase 0.12% to 0.15% 12/6/12 to 12/20/12 (f) |
|
$ 300,000 |
|
|
|
Money Market Funds - 10.8% |
|||
|
Shares |
Value |
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
7,563,892 |
$ 7,563,892 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
10,506,581 |
10,506,581 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $18,070,473) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 106.0% (Cost $155,265,346) |
178,104,513 |
|
|
NET OTHER ASSETS (LIABILITIES) - (6.0)% |
(10,033,848) |
||
|
NET ASSETS - 100% |
$ 168,070,665 |
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
118 CME E-mini S&P 500 Index Contracts |
Sept. 2012 |
$ 8,290,090 |
$ 110,967 |
||
|
The face value of futures purchased as a percentage of net assets is 4.9% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $299,918. |
|
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 Securities Lending Cash Central Fund |
$ 11,414 |
|
Other Information |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 24,704,067 |
$ 24,704,067 |
$ - |
$ - |
|
Consumer Staples |
21,598,036 |
21,598,036 |
- |
- |
|
Energy |
7,175,572 |
7,175,572 |
- |
- |
|
Financials |
6,608,036 |
6,608,036 |
- |
- |
|
Health Care |
19,485,019 |
19,485,019 |
- |
- |
|
Industrials |
17,292,611 |
17,292,611 |
- |
- |
|
Information Technology |
51,382,401 |
51,382,401 |
- |
- |
|
Materials |
6,202,558 |
6,202,558 |
- |
- |
|
Telecommunication Services |
3,730,382 |
3,730,382 |
- |
- |
|
Utilities |
1,555,440 |
1,555,440 |
- |
- |
|
U.S. Government and Government Agency Obligations |
299,918 |
- |
299,918 |
- |
|
Money Market Funds |
18,070,473 |
18,070,473 |
- |
- |
|
Total Investments in Securities: |
$ 178,104,513 |
$ 177,804,595 |
$ 299,918 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 110,967 |
$ 110,967 |
$ - |
$ - |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 110,967 |
$ - |
|
Total Value of Derivatives |
$ 110,967 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Large Cap Growth Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $10,320,919) - See accompanying schedule: Unaffiliated issuers (cost $144,758,765) |
$ 167,597,932 |
|
|
Fidelity Central Funds (cost $10,506,581) |
10,506,581 |
|
|
Total Investments (cost $155,265,346) |
|
$ 178,104,513 |
|
Segregated cash with broker for futures contracts |
|
124,600 |
|
Receivable for fund shares sold |
|
224,533 |
|
Dividends receivable |
|
362,823 |
|
Interest receivable |
|
261 |
|
Distributions receivable from Fidelity Central Funds |
|
2,672 |
|
Receivable for daily variation margin on futures contracts |
|
46,599 |
|
Total assets |
|
178,866,001 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for fund shares redeemed |
$ 227,245 |
|
|
Accrued management fee |
41,008 |
|
|
Other affiliated payables |
20,502 |
|
|
Collateral on securities loaned, at value |
10,506,581 |
|
|
Total liabilities |
|
10,795,336 |
|
|
|
|
|
Net Assets |
|
$ 168,070,665 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 147,807,499 |
|
Undistributed net investment income |
|
1,110,439 |
|
Accumulated undistributed net realized gain (loss) on investments |
|
(3,797,407) |
|
Net unrealized appreciation (depreciation) on investments |
|
22,950,134 |
|
Net Assets, for 14,912,877 shares outstanding |
|
$ 168,070,665 |
|
Net Asset Value, offering price and redemption price per share ($168,070,665 ÷ 14,912,877 shares) |
|
$ 11.27 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 1,462,026 |
|
Interest |
|
2,101 |
|
Income from Fidelity Central Funds |
|
11,414 |
|
Total income |
|
1,475,541 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 230,742 |
|
|
Transfer agent fees |
115,887 |
|
|
Independent trustees' compensation |
960 |
|
|
Miscellaneous |
199 |
|
|
Total expenses before reductions |
347,788 |
|
|
Expense reductions |
(13) |
347,775 |
|
Net investment income (loss) |
|
1,127,766 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
(422,770) |
|
|
Futures contracts |
13,199 |
|
|
Total net realized gain (loss) |
|
(409,571) |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
4,186,175 |
|
|
Futures contracts |
108,963 |
|
|
Total change in net unrealized appreciation (depreciation) |
|
4,295,138 |
|
Net gain (loss) |
|
3,885,567 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ 5,013,333 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Changes in Net Assets
|
|
Six months ended August 31, 2012 (Unaudited) |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 1,127,766 |
$ 1,142,947 |
|
Net realized gain (loss) |
(409,571) |
3,448,006 |
|
Change in net unrealized appreciation (depreciation) |
4,295,138 |
6,196,939 |
|
Net increase (decrease) in net assets resulting from operations |
5,013,333 |
10,787,892 |
|
Distributions to shareholders from net investment income |
(264,679) |
(1,003,885) |
|
Share transactions |
50,272,147 |
100,274,570 |
|
Reinvestment of distributions |
255,524 |
950,430 |
|
Cost of shares redeemed |
(29,031,813) |
(37,297,717) |
|
Net increase (decrease) in net assets resulting from share transactions |
21,495,858 |
63,927,283 |
|
Total increase (decrease) in net assets |
26,244,512 |
73,711,290 |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
141,826,153 |
68,114,863 |
|
End of period (including undistributed net investment income of $1,110,439 and undistributed net investment income of $247,352, respectively) |
$ 168,070,665 |
$ 141,826,153 |
|
Other Information Shares |
|
|
|
Sold |
4,571,098 |
9,925,533 |
|
Issued in reinvestment of distributions |
23,103 |
95,150 |
|
Redeemed |
(2,658,660) |
(3,727,897) |
|
Net increase (decrease) |
1,935,541 |
6,292,786 |
Financial Highlights
|
|
Six months ended August 31, 2012 |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 I |
2011 |
2010 |
2009 |
2008 G |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 10.93 |
$ 10.19 |
$ 8.44 |
$ 5.60 |
$ 9.25 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.08 |
.13 |
.11 |
.11 |
.09 |
.08 |
|
Net realized and unrealized gain (loss) |
.28 |
.72 |
1.75 |
2.83 |
(3.65) |
(.78) |
|
Total from investment operations |
.36 |
.85 |
1.86 |
2.94 |
(3.56) |
(.70) |
|
Distributions from net investment income |
(.02) |
(.11) |
(.11) |
(.10) |
(.09) |
(.05) |
|
Net asset value, end of period |
$ 11.27 |
$ 10.93 |
$ 10.19 |
$ 8.44 |
$ 5.60 |
$ 9.25 |
|
Total Return B, C |
3.29% |
8.40% |
22.14% |
52.50% |
(38.61)% |
(7.05)% |
|
Ratios to Average Net Assets E, H |
|
|
|
|
|
|
|
Expenses before reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of fee waivers, if any |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of all reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Net investment income (loss) |
1.46% A |
1.30% |
1.25% |
1.42% |
1.14% |
.89% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 168,071 |
$ 141,826 |
$ 68,115 |
$ 49,812 |
$ 22,104 |
$ 34,942 |
|
Portfolio turnover rate F |
79% A |
77% |
80% |
35% J |
58% J |
36% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Calculated based on average shares outstanding during the period.
E Fees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds.
F Amount does not include the portfolio activity of any underlying funds and Fidelity Central Funds.
G For the period April 19, 2007 (commencement of operations) to February 29, 2008.
H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
I For the year ended February 29.
J Reflects adjustments to exclude transactions in money market mutual funds.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Large Cap Value Enhanced Index Fund
Investment Changes (Unaudited)
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Exxon Mobil Corp. |
5.2 |
1.3 |
|
General Electric Co. |
3.4 |
3.1 |
|
Chevron Corp. |
3.4 |
3.3 |
|
AT&T, Inc. |
2.6 |
2.2 |
|
Wells Fargo & Co. |
2.6 |
2.4 |
|
Pfizer, Inc. |
2.4 |
2.2 |
|
JPMorgan Chase & Co. |
2.4 |
2.2 |
|
Merck & Co., Inc. |
2.2 |
1.6 |
|
Procter & Gamble Co. |
2.0 |
2.1 |
|
Cisco Systems, Inc. |
1.8 |
1.9 |
|
|
28.0 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Financials |
24.6 |
24.1 |
|
Energy |
16.7 |
11.9 |
|
Health Care |
11.9 |
12.9 |
|
Industrials |
8.0 |
10.0 |
|
Consumer Staples |
8.0 |
7.0 |
|
Utilities |
7.6 |
5.9 |
|
Information Technology |
7.5 |
9.9 |
|
Consumer Discretionary |
7.1 |
9.6 |
|
Telecommunication Services |
3.1 |
3.4 |
|
Materials |
2.8 |
3.0 |
Semiannual Report
Fidelity Large Cap Value Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 97.3% |
|||
|
Shares |
Value |
||
|
CONSUMER DISCRETIONARY - 7.1% |
|||
|
Auto Components - 0.8% |
|||
|
Delphi Automotive PLC |
10,310 |
$ 312,290 |
|
|
Lear Corp. |
8,195 |
318,212 |
|
|
|
630,502 |
||
|
Automobiles - 0.1% |
|||
|
Ford Motor Co. |
10,141 |
94,717 |
|
|
Diversified Consumer Services - 0.0% |
|||
|
Apollo Group, Inc. Class A (non-vtg.) (a) |
92 |
2,470 |
|
|
Household Durables - 0.1% |
|||
|
PulteGroup, Inc. (a)(e) |
9,400 |
128,592 |
|
|
Internet & Catalog Retail - 0.1% |
|||
|
Liberty Media Corp. Interactive Series A (a) |
3,500 |
63,840 |
|
|
Media - 3.1% |
|||
|
Comcast Corp. Class A |
25,732 |
862,794 |
|
|
DISH Network Corp. Class A |
10,265 |
328,377 |
|
|
Liberty Media Corp.: |
|
|
|
|
rights (a) |
58 |
0 |
|
|
Series A (a) |
175 |
8,048 |
|
|
News Corp. Class A |
28,601 |
668,977 |
|
|
The Walt Disney Co. |
7,835 |
387,597 |
|
|
Time Warner Cable, Inc. |
846 |
75,142 |
|
|
Time Warner, Inc. |
4,159 |
172,806 |
|
|
Viacom, Inc. Class B (non-vtg.) |
1,006 |
50,310 |
|
|
|
2,554,051 |
||
|
Multiline Retail - 0.8% |
|||
|
Macy's, Inc. |
11,772 |
474,529 |
|
|
Target Corp. |
2,763 |
177,081 |
|
|
|
651,610 |
||
|
Specialty Retail - 2.1% |
|||
|
Best Buy Co., Inc. |
2,766 |
49,069 |
|
|
Foot Locker, Inc. |
5,760 |
199,123 |
|
|
Gap, Inc. |
11,515 |
412,467 |
|
|
Home Depot, Inc. |
6,558 |
372,167 |
|
|
Limited Brands, Inc. |
1,335 |
64,881 |
|
|
Lowe's Companies, Inc. |
13,809 |
393,280 |
|
|
Staples, Inc. (e) |
25,140 |
274,529 |
|
|
|
1,765,516 |
||
|
TOTAL CONSUMER DISCRETIONARY |
5,891,298 |
||
|
CONSUMER STAPLES - 8.0% |
|||
|
Beverages - 0.5% |
|||
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
7,600 |
250,344 |
|
|
Molson Coors Brewing Co. Class B |
4,200 |
187,068 |
|
|
|
437,412 |
||
|
Food & Staples Retailing - 2.5% |
|||
|
CVS Caremark Corp. |
9,289 |
423,114 |
|
|
Kroger Co. |
12,681 |
282,533 |
|
|
|
|||
|
Shares |
Value |
||
|
Safeway, Inc. (e) |
20,562 |
$ 321,795 |
|
|
Wal-Mart Stores, Inc. |
5,487 |
398,356 |
|
|
Walgreen Co. |
18,766 |
671,072 |
|
|
|
2,096,870 |
||
|
Food Products - 2.0% |
|||
|
Archer Daniels Midland Co. |
16,820 |
449,935 |
|
|
ConAgra Foods, Inc. |
13,990 |
351,289 |
|
|
Kraft Foods, Inc. Class A |
12,042 |
500,104 |
|
|
Smithfield Foods, Inc. (a) |
198 |
3,825 |
|
|
Tyson Foods, Inc. Class A |
18,903 |
296,021 |
|
|
|
1,601,174 |
||
|
Household Products - 2.0% |
|||
|
Procter & Gamble Co. |
24,694 |
1,659,190 |
|
|
Tobacco - 1.0% |
|||
|
Philip Morris International, Inc. |
5,071 |
452,840 |
|
|
Reynolds American, Inc. |
8,507 |
392,173 |
|
|
|
845,013 |
||
|
TOTAL CONSUMER STAPLES |
6,639,659 |
||
|
ENERGY - 16.7% |
|||
|
Energy Equipment & Services - 0.9% |
|||
|
Diamond Offshore Drilling, Inc. (e) |
4,922 |
329,872 |
|
|
Halliburton Co. |
90 |
2,948 |
|
|
Helix Energy Solutions Group, Inc. (a)(e) |
15,694 |
276,528 |
|
|
Nabors Industries Ltd. (a) |
1,000 |
14,770 |
|
|
National Oilwell Varco, Inc. |
1,135 |
89,438 |
|
|
|
713,556 |
||
|
Oil, Gas & Consumable Fuels - 15.8% |
|||
|
Anadarko Petroleum Corp. |
1,583 |
109,654 |
|
|
Apache Corp. |
1,460 |
125,195 |
|
|
Chevron Corp. |
24,793 |
2,780,783 |
|
|
ConocoPhillips (e) |
20,236 |
1,149,202 |
|
|
Exxon Mobil Corp. |
49,668 |
4,336,013 |
|
|
Hess Corp. |
1,756 |
88,731 |
|
|
HollyFrontier Corp. |
10,489 |
422,602 |
|
|
Marathon Oil Corp. |
18,969 |
527,718 |
|
|
Marathon Petroleum Corp. |
10,839 |
560,918 |
|
|
Murphy Oil Corp. |
7,557 |
387,901 |
|
|
Occidental Petroleum Corp. |
6,193 |
526,467 |
|
|
Phillips 66 |
15,856 |
665,952 |
|
|
Tesoro Corp. |
12,637 |
502,194 |
|
|
Valero Energy Corp. |
18,343 |
573,402 |
|
|
Western Refining, Inc. |
12,570 |
351,583 |
|
|
|
13,108,315 |
||
|
TOTAL ENERGY |
13,821,871 |
||
|
FINANCIALS - 24.6% |
|||
|
Capital Markets - 1.7% |
|||
|
American Capital Ltd. (a) |
430 |
4,726 |
|
|
Bank of New York Mellon Corp. |
1,933 |
43,570 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
FINANCIALS - continued |
|||
|
Capital Markets - continued |
|||
|
Goldman Sachs Group, Inc. |
8,617 |
$ 910,989 |
|
|
Legg Mason, Inc. (e) |
1,222 |
30,037 |
|
|
Raymond James Financial, Inc. |
2,065 |
72,688 |
|
|
SEI Investments Co. (e) |
16,392 |
356,526 |
|
|
|
1,418,536 |
||
|
Commercial Banks - 5.9% |
|||
|
Fifth Third Bancorp |
31,655 |
479,257 |
|
|
First Republic Bank |
74 |
2,419 |
|
|
Huntington Bancshares, Inc. |
62,532 |
412,711 |
|
|
KeyCorp |
46,274 |
390,090 |
|
|
PNC Financial Services Group, Inc. |
1,609 |
100,015 |
|
|
Regions Financial Corp. |
62,111 |
432,293 |
|
|
SunTrust Banks, Inc. |
17,818 |
448,479 |
|
|
U.S. Bancorp |
13,920 |
465,067 |
|
|
Wells Fargo & Co. |
62,650 |
2,131,980 |
|
|
|
4,862,311 |
||
|
Consumer Finance - 2.1% |
|||
|
American Express Co. |
9,702 |
565,627 |
|
|
Capital One Financial Corp. |
9,930 |
561,343 |
|
|
Discover Financial Services |
14,945 |
578,820 |
|
|
|
1,705,790 |
||
|
Diversified Financial Services - 5.3% |
|||
|
Bank of America Corp. |
148,687 |
1,188,009 |
|
|
Citigroup, Inc. |
43,046 |
1,278,897 |
|
|
Interactive Brokers Group, Inc. |
200 |
2,764 |
|
|
JPMorgan Chase & Co. |
52,322 |
1,943,239 |
|
|
|
4,412,909 |
||
|
Insurance - 6.2% |
|||
|
ACE Ltd. |
7,857 |
579,297 |
|
|
AFLAC, Inc. |
66 |
3,048 |
|
|
Allied World Assurance Co. Holdings Ltd. |
1,401 |
110,021 |
|
|
American International Group, Inc. (a) |
15,849 |
544,096 |
|
|
Axis Capital Holdings Ltd. |
9,659 |
329,082 |
|
|
Berkshire Hathaway, Inc. Class B (a) |
16,761 |
1,413,623 |
|
|
CNA Financial Corp. |
9,300 |
242,916 |
|
|
Everest Re Group Ltd. |
3,174 |
329,017 |
|
|
Fidelity National Financial, Inc. Class A |
8,334 |
157,013 |
|
|
Loews Corp. |
9,728 |
395,443 |
|
|
Marsh & McLennan Companies, Inc. |
9,838 |
336,164 |
|
|
MetLife, Inc. |
343 |
11,707 |
|
|
PartnerRe Ltd. |
4,429 |
325,089 |
|
|
Torchmark Corp. |
43 |
2,201 |
|
|
Validus Holdings Ltd. |
8,896 |
298,105 |
|
|
|
5,076,822 |
||
|
Real Estate Investment Trusts - 3.1% |
|||
|
American Campus Communities, Inc. |
2,400 |
111,888 |
|
|
Annaly Capital Management, Inc. |
181 |
3,133 |
|
|
Camden Property Trust (SBI) |
2,100 |
145,803 |
|
|
|
|||
|
Shares |
Value |
||
|
CBL & Associates Properties, Inc. |
13,756 |
$ 293,966 |
|
|
Chimera Investment Corp. |
106,900 |
271,526 |
|
|
General Growth Properties, Inc. |
21,308 |
438,519 |
|
|
Liberty Property Trust (SBI) |
9,305 |
343,168 |
|
|
MFA Financial, Inc. |
38,840 |
318,100 |
|
|
Public Storage |
2,333 |
339,591 |
|
|
Weyerhaeuser Co. |
11,561 |
287,985 |
|
|
|
2,553,679 |
||
|
Real Estate Management & Development - 0.3% |
|||
|
Alexander & Baldwin, Inc. |
9,031 |
267,498 |
|
|
TOTAL FINANCIALS |
20,297,545 |
||
|
HEALTH CARE - 11.9% |
|||
|
Biotechnology - 0.4% |
|||
|
Amgen, Inc. |
4,263 |
357,751 |
|
|
United Therapeutics Corp. (a) |
82 |
4,438 |
|
|
|
362,189 |
||
|
Health Care Equipment & Supplies - 0.6% |
|||
|
Boston Scientific Corp. (a) |
63,958 |
345,373 |
|
|
Covidien PLC |
657 |
36,825 |
|
|
Medtronic, Inc. |
3,500 |
142,310 |
|
|
|
524,508 |
||
|
Health Care Providers & Services - 3.4% |
|||
|
Aetna, Inc. |
10,983 |
421,857 |
|
|
Cardinal Health, Inc. |
8,201 |
324,350 |
|
|
Health Net, Inc. (a) |
5,084 |
118,203 |
|
|
Humana, Inc. |
5,415 |
379,483 |
|
|
McKesson Corp. |
1,047 |
91,204 |
|
|
UnitedHealth Group, Inc. |
17,110 |
929,073 |
|
|
WellPoint, Inc. |
8,324 |
498,358 |
|
|
|
2,762,528 |
||
|
Life Sciences Tools & Services - 0.3% |
|||
|
Agilent Technologies, Inc. |
6,996 |
259,971 |
|
|
Pharmaceuticals - 7.2% |
|||
|
Abbott Laboratories |
1,000 |
65,540 |
|
|
Eli Lilly & Co. |
15,209 |
683,036 |
|
|
Johnson & Johnson |
20,928 |
1,411,175 |
|
|
Merck & Co., Inc. |
41,302 |
1,778,051 |
|
|
Pfizer, Inc. |
83,201 |
1,985,176 |
|
|
|
5,922,978 |
||
|
TOTAL HEALTH CARE |
9,832,174 |
||
|
INDUSTRIALS - 8.0% |
|||
|
Aerospace & Defense - 2.4% |
|||
|
Alliant Techsystems, Inc. |
4,336 |
212,421 |
|
|
Engility Holdings, Inc. (a)(e) |
18,793 |
347,858 |
|
|
General Dynamics Corp. |
7,868 |
515,433 |
|
|
Lockheed Martin Corp. |
1,424 |
129,783 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INDUSTRIALS - continued |
|||
|
Aerospace & Defense - continued |
|||
|
Northrop Grumman Corp. |
7,562 |
$ 505,822 |
|
|
Raytheon Co. (e) |
5,262 |
297,408 |
|
|
|
2,008,725 |
||
|
Air Freight & Logistics - 0.0% |
|||
|
FedEx Corp. |
300 |
26,289 |
|
|
Commercial Services & Supplies - 0.4% |
|||
|
Republic Services, Inc. |
12,689 |
350,851 |
|
|
Electrical Equipment - 0.3% |
|||
|
Hubbell, Inc. Class B |
3,478 |
281,092 |
|
|
Industrial Conglomerates - 3.8% |
|||
|
3M Co. |
4,062 |
376,141 |
|
|
General Electric Co. |
134,304 |
2,781,436 |
|
|
Tyco International Ltd. |
217 |
12,234 |
|
|
|
3,169,811 |
||
|
Machinery - 0.4% |
|||
|
Dover Corp. |
5,142 |
297,259 |
|
|
Oshkosh Truck Corp. (a)(e) |
200 |
5,068 |
|
|
|
302,327 |
||
|
Professional Services - 0.3% |
|||
|
Equifax, Inc. |
4,880 |
223,406 |
|
|
Road & Rail - 0.4% |
|||
|
Union Pacific Corp. |
2,315 |
281,134 |
|
|
TOTAL INDUSTRIALS |
6,643,635 |
||
|
INFORMATION TECHNOLOGY - 7.5% |
|||
|
Communications Equipment - 1.8% |
|||
|
Cisco Systems, Inc. |
76,988 |
1,468,931 |
|
|
Computers & Peripherals - 0.9% |
|||
|
Hewlett-Packard Co. |
6,542 |
110,429 |
|
|
Lexmark International, Inc. Class A |
8,168 |
177,327 |
|
|
Western Digital Corp. (a) |
10,432 |
436,266 |
|
|
|
724,022 |
||
|
Electronic Equipment & Components - 0.2% |
|||
|
Tech Data Corp. (a)(e) |
3,201 |
155,505 |
|
|
Internet Software & Services - 0.4% |
|||
|
AOL, Inc. (a)(e) |
9,673 |
325,690 |
|
|
IT Services - 1.5% |
|||
|
CoreLogic, Inc. (a) |
13,293 |
327,008 |
|
|
Fidelity National Information Services, Inc. |
9,759 |
307,409 |
|
|
Lender Processing Services, Inc. |
11,251 |
315,816 |
|
|
Total System Services, Inc. |
14,114 |
327,163 |
|
|
|
1,277,396 |
||
|
Semiconductors & Semiconductor Equipment - 2.3% |
|||
|
Applied Materials, Inc. (e) |
1,317 |
15,396 |
|
|
Avago Technologies Ltd. |
5,460 |
199,672 |
|
|
Intel Corp. |
27,551 |
684,091 |
|
|
KLA-Tencor Corp. |
7,542 |
386,980 |
|
|
|
|||
|
Shares |
Value |
||
|
Marvell Technology Group Ltd. |
29,255 |
$ 297,816 |
|
|
Maxim Integrated Products, Inc. |
12,407 |
336,726 |
|
|
|
1,920,681 |
||
|
Software - 0.4% |
|||
|
Microsoft Corp. |
10,690 |
329,466 |
|
|
TOTAL INFORMATION TECHNOLOGY |
6,201,691 |
||
|
MATERIALS - 2.8% |
|||
|
Chemicals - 2.5% |
|||
|
CF Industries Holdings, Inc. |
2,040 |
422,300 |
|
|
Dow Chemical Co. |
3,491 |
102,321 |
|
|
Eastman Chemical Co. |
5,708 |
315,424 |
|
|
Huntsman Corp. |
23,395 |
336,420 |
|
|
LyondellBasell Industries NV Class A |
11,227 |
548,327 |
|
|
Monsanto Co. |
680 |
59,235 |
|
|
PPG Industries, Inc. |
3,073 |
338,091 |
|
|
|
2,122,118 |
||
|
Metals & Mining - 0.3% |
|||
|
Coeur d'Alene Mines Corp. (a) |
2,217 |
50,969 |
|
|
Freeport-McMoRan Copper & Gold, Inc. |
4,600 |
166,106 |
|
|
Newmont Mining Corp. |
101 |
5,119 |
|
|
|
222,194 |
||
|
TOTAL MATERIALS |
2,344,312 |
||
|
TELECOMMUNICATION SERVICES - 3.1% |
|||
|
Diversified Telecommunication Services - 3.1% |
|||
|
AT&T, Inc. |
59,606 |
2,183,964 |
|
|
CenturyLink, Inc. |
883 |
37,316 |
|
|
Verizon Communications, Inc. |
7,820 |
335,791 |
|
|
|
2,557,071 |
||
|
UTILITIES - 7.6% |
|||
|
Electric Utilities - 3.8% |
|||
|
American Electric Power Co., Inc. |
12,861 |
552,894 |
|
|
Cleco Corp. |
6,456 |
264,244 |
|
|
Duke Energy Corp. |
12,044 |
780,210 |
|
|
Entergy Corp. |
6,253 |
425,704 |
|
|
Exelon Corp. |
3,021 |
110,176 |
|
|
NextEra Energy, Inc. |
700 |
47,117 |
|
|
Northeast Utilities |
99 |
3,729 |
|
|
NV Energy, Inc. |
18,330 |
321,508 |
|
|
Pinnacle West Capital Corp. |
7,298 |
374,898 |
|
|
Southern Co. |
3,743 |
169,670 |
|
|
Xcel Energy, Inc. |
2,328 |
64,928 |
|
|
|
3,115,078 |
||
|
Gas Utilities - 0.0% |
|||
|
Atmos Energy Corp. |
68 |
2,376 |
|
|
Multi-Utilities - 3.4% |
|||
|
Ameren Corp. |
11,641 |
380,894 |
|
|
CenterPoint Energy, Inc. |
19,158 |
390,632 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
UTILITIES - continued |
|||
|
Multi-Utilities - continued |
|||
|
Consolidated Edison, Inc. |
7,856 |
$ 476,231 |
|
|
Dominion Resources, Inc. |
1,374 |
72,108 |
|
|
DTE Energy Co. |
6,249 |
364,942 |
|
|
MDU Resources Group, Inc. |
721 |
15,538 |
|
|
PG&E Corp. |
7,731 |
335,603 |
|
|
Public Service Enterprise Group, Inc. |
15,351 |
486,013 |
|
|
TECO Energy, Inc. (e) |
17,644 |
306,300 |
|
|
|
2,828,261 |
||
|
Water Utilities - 0.4% |
|||
|
American Water Works Co., Inc. |
9,510 |
350,634 |
|
|
TOTAL UTILITIES |
6,296,349 |
||
|
TOTAL COMMON STOCKS (Cost $69,569,966) |
|
||
|
U.S. Treasury Obligations - 0.1% |
||||
|
|
Principal Amount |
|
||
|
U.S. Treasury Bills, yield at date of purchase 0.15% 12/20/12 (f) |
|
$ 100,000 |
|
|
|
Money Market Funds - 6.5% |
|||
|
Shares |
|
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
1,884,897 |
1,884,897 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
3,477,550 |
3,477,550 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $5,362,447) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 103.9% (Cost $75,032,368) |
85,988,023 |
|
|
NET OTHER ASSETS (LIABILITIES) - (3.9)% |
(3,256,048) |
||
|
NET ASSETS - 100% |
$ 82,731,975 |
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
31 CME E-mini S&P 500 Index Contracts |
Sept. 2012 |
$ 2,177,905 |
$ 58,746 |
||
|
|
|
The face value of futures purchased as a percentage of net assets is 2.6% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $99,971. |
|
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 Securities Lending Cash Central Fund |
$ 3,406 |
|
Other Information |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value.The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 5,891,298 |
$ 5,891,298 |
$ - |
$ - |
|
Consumer Staples |
6,639,659 |
6,639,659 |
- |
- |
|
Energy |
13,821,871 |
13,821,871 |
- |
- |
|
Financials |
20,297,545 |
20,297,545 |
- |
- |
|
Health Care |
9,832,174 |
9,832,174 |
- |
- |
|
Industrials |
6,643,635 |
6,643,635 |
- |
- |
|
Information Technology |
6,201,691 |
6,201,691 |
- |
- |
|
Materials |
2,344,312 |
2,344,312 |
- |
- |
|
Telecommunication Services |
2,557,071 |
2,557,071 |
- |
- |
|
Utilities |
6,296,349 |
6,296,349 |
- |
- |
|
U.S. Government and Government Agency Obligations |
99,971 |
- |
99,971 |
- |
|
Money Market Funds |
5,362,447 |
5,362,447 |
- |
- |
|
Total Investments in Securities: |
$ 85,988,023 |
$ 85,888,052 |
$ 99,971 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 58,746 |
$ 58,746 |
$ - |
$ - |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 58,746 |
$ - |
|
Total Value of Derivatives |
$ 58,746 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Large Cap Value Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $3,425,240) - See accompanying schedule: Unaffiliated issuers (cost $71,554,818) |
$ 82,510,473 |
|
|
Fidelity Central Funds (cost $3,477,550) |
3,477,550 |
|
|
Total Investments (cost $75,032,368) |
|
$ 85,988,023 |
|
Segregated cash with broker for futures contracts |
|
17,550 |
|
Receivable for fund shares sold |
|
137,827 |
|
Dividends receivable |
|
246,557 |
|
Interest receivable |
|
117 |
|
Distributions receivable from Fidelity Central Funds |
|
423 |
|
Receivable for daily variation margin on futures contracts |
|
12,400 |
|
Total assets |
|
86,402,897 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for fund shares redeemed |
$ 162,943 |
|
|
Accrued management fee |
20,285 |
|
|
Other affiliated payables |
10,144 |
|
|
Collateral on securities loaned, at value |
3,477,550 |
|
|
Total liabilities |
|
3,670,922 |
|
|
|
|
|
Net Assets |
|
$ 82,731,975 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 71,341,443 |
|
Undistributed net investment income |
|
779,428 |
|
Accumulated undistributed net realized gain (loss) on investments |
|
(403,297) |
|
Net unrealized appreciation (depreciation) on investments |
|
11,014,401 |
|
Net Assets, for 10,357,665 shares outstanding |
|
$ 82,731,975 |
|
Net Asset Value, offering price and redemption price per share ($82,731,975 ÷ 10,357,665 shares) |
|
$ 7.99 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 948,516 |
|
Interest |
|
790 |
|
Income from Fidelity Central Funds |
|
3,406 |
|
Total income |
|
952,712 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 110,644 |
|
|
Transfer agent fees |
55,590 |
|
|
Independent trustees' compensation |
467 |
|
|
Miscellaneous |
112 |
|
|
Total expenses |
|
166,813 |
|
Net investment income (loss) |
|
785,899 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
1,203,157 |
|
|
Futures contracts |
55,979 |
|
|
Total net realized gain (loss) |
|
1,259,136 |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
999,017 |
|
|
Futures contracts |
(45,531) |
|
|
Total change in net unrealized appreciation (depreciation) |
|
953,486 |
|
Net gain (loss) |
|
2,212,622 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ 2,998,521 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fund Name
Financial Statements - continued
Statement of Changes in Net Assets
|
|
Six months ended August 31, 2012 (Unaudited) |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 785,899 |
$ 1,687,945 |
|
Net realized gain (loss) |
1,259,136 |
3,313,626 |
|
Change in net unrealized appreciation (depreciation) |
953,486 |
(3,513,996) |
|
Net increase (decrease) in net assets resulting from operations |
2,998,521 |
1,487,575 |
|
Distributions to shareholders from net investment income |
(233,318) |
(1,395,578) |
|
Distributions to shareholders from net realized gain |
(774,616) |
(2,874,041) |
|
Total distributions |
(1,007,934) |
(4,269,619) |
|
Share transactions |
22,116,559 |
44,771,312 |
|
Reinvestment of distributions |
972,644 |
4,155,117 |
|
Cost of shares redeemed |
(13,701,357) |
(59,913,933) |
|
Net increase (decrease) in net assets resulting from share transactions |
9,387,846 |
(10,987,504) |
|
Total increase (decrease) in net assets |
11,378,433 |
(13,769,548) |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
71,353,542 |
85,123,090 |
|
End of period (including undistributed net investment income of $779,428 and undistributed net investment income of $226,847, respectively) |
$ 82,731,975 |
$ 71,353,542 |
|
Other Information Shares |
|
|
|
Sold |
2,842,016 |
6,042,322 |
|
Issued in reinvestment of distributions |
127,143 |
580,129 |
|
Redeemed |
(1,787,842) |
(8,189,565) |
|
Net increase (decrease) |
1,181,317 |
(1,567,114) |
Financial Highlights
|
|
Six months ended |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 J |
2011 |
2010 |
2009 |
2008 H |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 7.78 |
$ 7.92 |
$ 6.70 |
$ 4.59 |
$ 8.68 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.08 |
.15 |
.12 |
.13 |
.20 |
.18 |
|
Net realized and unrealized gain (loss) |
.24 |
.10 G |
1.22 |
2.11 |
(4.14) |
(1.37) |
|
Total from investment operations |
.32 |
.25 |
1.34 |
2.24 |
(3.94) |
(1.19) |
|
Distributions from net investment income |
(.03) |
(.13) |
(.12) |
(.13) |
(.15) |
(.13) |
|
Distributions from net realized gain |
(.08) |
(.26) |
- |
- |
- |
- |
|
Total distributions |
(.11) |
(.39) |
(.12) |
(.13) |
(.15) |
(.13) |
|
Net asset value, end of period |
$ 7.99 |
$ 7.78 |
$ 7.92 |
$ 6.70 |
$ 4.59 |
$ 8.68 |
|
Total Return B, C |
4.15% |
3.58% |
20.15% |
48.83% |
(45.82)% |
(12.00)% |
|
Ratios to Average Net Assets E, I |
|
|
|
|
|
|
|
Expenses before reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of fee waivers, if any |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of all reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Net investment income (loss) |
2.12% A |
2.04% |
1.76% |
2.11% |
2.81% |
2.12% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 82,732 |
$ 71,354 |
$ 85,123 |
$ 69,024 |
$ 20,162 |
$ 24,379 |
|
Portfolio turnover rate F |
82% A |
85% |
83% |
89% K |
72% K |
65% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Calculated based on average shares outstanding during the period.
E Fees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds.
F Amount does not include the portfolio activity of any underlying funds and Fidelity Central Funds.
G The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
H For the period April 19, 2007 (commencement of operations) to February 29, 2008.
I Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
J For the year ended February 29.
K Reflects adjustments to exclude transactions in money market mutual funds.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Large Cap Core Enhanced Index Fund
Investment Changes (Unaudited)
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Apple, Inc. |
4.7 |
4.2 |
|
Exxon Mobil Corp. |
2.9 |
3.6 |
|
Chevron Corp. |
2.2 |
2.1 |
|
Microsoft Corp. |
2.1 |
2.0 |
|
General Electric Co. |
2.1 |
1.9 |
|
AT&T, Inc. |
2.0 |
1.1 |
|
Johnson & Johnson |
1.8 |
1.2 |
|
Wells Fargo & Co. |
1.7 |
1.7 |
|
Pfizer, Inc. |
1.7 |
1.4 |
|
Google, Inc. Class A |
1.7 |
1.6 |
|
|
22.9 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Information Technology |
19.7 |
20.5 |
|
Financials |
13.4 |
12.5 |
|
Health Care |
12.5 |
11.8 |
|
Consumer Staples |
11.8 |
10.2 |
|
Energy |
11.6 |
12.0 |
|
Consumer Discretionary |
10.1 |
9.3 |
|
Industrials |
8.8 |
11.0 |
|
Utilities |
4.4 |
2.4 |
|
Telecommunication Services |
3.3 |
1.9 |
|
Materials |
2.8 |
4.3 |
Semiannual Report
Fidelity Large Cap Core Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 98.4% |
|||
|
Shares |
Value |
||
|
CONSUMER DISCRETIONARY - 10.1% |
|||
|
Auto Components - 0.4% |
|||
|
Delphi Automotive PLC |
29,624 |
$ 897,311 |
|
|
Automobiles - 0.0% |
|||
|
Ford Motor Co. |
1,100 |
10,274 |
|
|
Diversified Consumer Services - 0.0% |
|||
|
Apollo Group, Inc. Class A (non-vtg.) (a)(e) |
346 |
9,290 |
|
|
Hotels, Restaurants & Leisure - 1.1% |
|||
|
McDonald's Corp. |
10,017 |
896,421 |
|
|
Starbucks Corp. |
29,440 |
1,460,518 |
|
|
Wynn Resorts Ltd. |
2,989 |
308,375 |
|
|
|
2,665,314 |
||
|
Internet & Catalog Retail - 0.3% |
|||
|
Amazon.com, Inc. (a) |
3,119 |
774,229 |
|
|
Media - 4.1% |
|||
|
Cinemark Holdings, Inc. |
33,900 |
793,938 |
|
|
Comcast Corp. Class A (e) |
28,109 |
942,495 |
|
|
DISH Network Corp. Class A |
27,807 |
889,546 |
|
|
Liberty Media Corp. Capital Series A (a) |
8,400 |
875,952 |
|
|
McGraw-Hill Companies, Inc. |
22,793 |
1,167,002 |
|
|
News Corp. Class A |
76,689 |
1,793,756 |
|
|
Scripps Networks Interactive, Inc. Class A |
15,590 |
921,369 |
|
|
The Walt Disney Co. |
18,836 |
931,817 |
|
|
Viacom, Inc. Class B (non-vtg.) |
26,193 |
1,309,912 |
|
|
|
9,625,787 |
||
|
Multiline Retail - 0.8% |
|||
|
Dollar General Corp. (a) |
14,300 |
730,301 |
|
|
Macy's, Inc. |
30,139 |
1,214,903 |
|
|
|
1,945,204 |
||
|
Specialty Retail - 3.4% |
|||
|
Bed Bath & Beyond, Inc. (a) |
17,114 |
1,149,547 |
|
|
Foot Locker, Inc. |
17,200 |
594,604 |
|
|
Gap, Inc. |
38,169 |
1,367,214 |
|
|
Home Depot, Inc. |
42,866 |
2,432,646 |
|
|
Lowe's Companies, Inc. |
36,420 |
1,037,242 |
|
|
TJX Companies, Inc. |
29,716 |
1,360,696 |
|
|
|
7,941,949 |
||
|
TOTAL CONSUMER DISCRETIONARY |
23,869,358 |
||
|
CONSUMER STAPLES - 11.8% |
|||
|
Beverages - 2.3% |
|||
|
Dr Pepper Snapple Group, Inc. |
303 |
13,577 |
|
|
Monster Beverage Corp. (a) |
10,746 |
633,262 |
|
|
PepsiCo, Inc. |
31,752 |
2,299,797 |
|
|
The Coca-Cola Co. |
65,218 |
2,439,153 |
|
|
|
5,385,789 |
||
|
Food & Staples Retailing - 3.2% |
|||
|
CVS Caremark Corp. |
40,359 |
1,838,352 |
|
|
Kroger Co. |
46,407 |
1,033,948 |
|
|
|
|||
|
Shares |
Value |
||
|
Wal-Mart Stores, Inc. |
43,598 |
$ 3,165,215 |
|
|
Walgreen Co. |
42,141 |
1,506,962 |
|
|
|
7,544,477 |
||
|
Food Products - 1.7% |
|||
|
Archer Daniels Midland Co. |
38,474 |
1,029,180 |
|
|
ConAgra Foods, Inc. |
38,595 |
969,120 |
|
|
Hormel Foods Corp. (e) |
28,403 |
815,734 |
|
|
Kraft Foods, Inc. Class A |
12,695 |
527,223 |
|
|
Smithfield Foods, Inc. (a) |
671 |
12,964 |
|
|
Tyson Foods, Inc. Class A |
45,779 |
716,899 |
|
|
|
4,071,120 |
||
|
Household Products - 1.8% |
|||
|
Clorox Co. |
183 |
13,313 |
|
|
Colgate-Palmolive Co. |
2,217 |
235,689 |
|
|
Kimberly-Clark Corp. |
16,917 |
1,414,261 |
|
|
Procter & Gamble Co. |
39,163 |
2,631,362 |
|
|
|
4,294,625 |
||
|
Tobacco - 2.8% |
|||
|
Altria Group, Inc. |
59,974 |
2,036,717 |
|
|
Lorillard, Inc. |
7,627 |
957,265 |
|
|
Philip Morris International, Inc. |
41,528 |
3,708,450 |
|
|
|
6,702,432 |
||
|
TOTAL CONSUMER STAPLES |
27,998,443 |
||
|
ENERGY - 11.6% |
|||
|
Energy Equipment & Services - 1.4% |
|||
|
Diamond Offshore Drilling, Inc. (e) |
13,300 |
891,366 |
|
|
Helix Energy Solutions Group, Inc. (a) |
36,300 |
639,606 |
|
|
National Oilwell Varco, Inc. |
11,639 |
917,153 |
|
|
Schlumberger Ltd. |
13,341 |
965,622 |
|
|
|
3,413,747 |
||
|
Oil, Gas & Consumable Fuels - 10.2% |
|||
|
Anadarko Petroleum Corp. |
200 |
13,854 |
|
|
Chevron Corp. |
45,497 |
5,102,944 |
|
|
ConocoPhillips |
37,663 |
2,138,882 |
|
|
Exxon Mobil Corp. |
77,783 |
6,790,456 |
|
|
Hess Corp. |
182 |
9,196 |
|
|
HollyFrontier Corp. |
23,632 |
952,133 |
|
|
Marathon Oil Corp. |
33,702 |
937,590 |
|
|
Marathon Petroleum Corp. |
27,201 |
1,407,652 |
|
|
Murphy Oil Corp. |
20,541 |
1,054,370 |
|
|
Occidental Petroleum Corp. |
6,327 |
537,858 |
|
|
Phillips 66 |
35,755 |
1,501,710 |
|
|
Tesoro Corp. |
32,000 |
1,271,680 |
|
|
Valero Energy Corp. |
47,288 |
1,478,223 |
|
|
Western Refining, Inc. |
35,200 |
984,544 |
|
|
|
24,181,092 |
||
|
TOTAL ENERGY |
27,594,839 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
FINANCIALS - 13.4% |
|||
|
Capital Markets - 0.8% |
|||
|
Goldman Sachs Group, Inc. |
17,180 |
$ 1,816,270 |
|
|
Commercial Banks - 3.6% |
|||
|
Fifth Third Bancorp |
77,401 |
1,171,851 |
|
|
Huntington Bancshares, Inc. |
139,700 |
922,020 |
|
|
KeyCorp |
116,000 |
977,880 |
|
|
PNC Financial Services Group, Inc. |
176 |
10,940 |
|
|
Regions Financial Corp. |
145,087 |
1,009,806 |
|
|
U.S. Bancorp |
12,232 |
408,671 |
|
|
Wells Fargo & Co. |
121,571 |
4,137,061 |
|
|
|
8,638,229 |
||
|
Consumer Finance - 1.4% |
|||
|
American Express Co. |
32,020 |
1,866,766 |
|
|
Discover Financial Services |
36,540 |
1,415,194 |
|
|
|
3,281,960 |
||
|
Diversified Financial Services - 2.8% |
|||
|
Bank of America Corp. |
96,442 |
770,572 |
|
|
Citigroup, Inc. |
78,611 |
2,335,533 |
|
|
JPMorgan Chase & Co. |
93,299 |
3,465,125 |
|
|
|
6,571,230 |
||
|
Insurance - 3.6% |
|||
|
ACE Ltd. |
17,027 |
1,255,401 |
|
|
American International Group, Inc. (a) |
37,107 |
1,273,883 |
|
|
Berkshire Hathaway, Inc. Class B (a) |
24,150 |
2,036,811 |
|
|
CNA Financial Corp. |
28,359 |
740,737 |
|
|
Everest Re Group Ltd. |
4,800 |
497,568 |
|
|
Loews Corp. |
24,945 |
1,014,014 |
|
|
Marsh & McLennan Companies, Inc. |
34,756 |
1,187,613 |
|
|
Validus Holdings Ltd. |
18,100 |
606,531 |
|
|
|
8,612,558 |
||
|
Real Estate Investment Trusts - 1.0% |
|||
|
General Growth Properties, Inc. |
45,596 |
938,366 |
|
|
MFA Financial, Inc. |
98,200 |
804,258 |
|
|
Public Storage |
192 |
27,948 |
|
|
Simon Property Group, Inc. |
1,259 |
199,803 |
|
|
Weyerhaeuser Co. |
18,397 |
458,269 |
|
|
|
2,428,644 |
||
|
Real Estate Management & Development - 0.2% |
|||
|
Alexander & Baldwin, Inc. |
14,400 |
426,528 |
|
|
TOTAL FINANCIALS |
31,775,419 |
||
|
HEALTH CARE - 12.5% |
|||
|
Biotechnology - 1.0% |
|||
|
Amgen, Inc. |
26,395 |
2,215,068 |
|
|
Biogen Idec, Inc. (a) |
100 |
14,659 |
|
|
|
2,229,727 |
||
|
Health Care Equipment & Supplies - 1.3% |
|||
|
Baxter International, Inc. |
1,724 |
101,164 |
|
|
Becton, Dickinson & Co. |
158 |
12,005 |
|
|
|
|||
|
Shares |
Value |
||
|
Boston Scientific Corp. (a) |
69,500 |
$ 375,300 |
|
|
Covidien PLC |
200 |
11,210 |
|
|
Hill-Rom Holdings, Inc. |
400 |
11,092 |
|
|
Medtronic, Inc. |
39,529 |
1,607,249 |
|
|
St. Jude Medical, Inc. |
27,125 |
1,024,240 |
|
|
|
3,142,260 |
||
|
Health Care Providers & Services - 2.9% |
|||
|
Aetna, Inc. |
28,190 |
1,082,778 |
|
|
Cardinal Health, Inc. |
25,729 |
1,017,582 |
|
|
Express Scripts Holding Co. (a) |
2,091 |
130,938 |
|
|
Humana, Inc. |
12,894 |
903,612 |
|
|
McKesson Corp. |
9,423 |
820,838 |
|
|
Omnicare, Inc. |
400 |
12,952 |
|
|
UnitedHealth Group, Inc. |
32,960 |
1,789,728 |
|
|
WellPoint, Inc. |
18,553 |
1,110,768 |
|
|
|
6,869,196 |
||
|
Life Sciences Tools & Services - 0.4% |
|||
|
Agilent Technologies, Inc. |
26,609 |
988,790 |
|
|
Pharmaceuticals - 6.9% |
|||
|
Abbott Laboratories |
41,156 |
2,697,364 |
|
|
Bristol-Myers Squibb Co. |
11,729 |
387,174 |
|
|
Eli Lilly & Co. |
39,052 |
1,753,825 |
|
|
Johnson & Johnson |
62,511 |
4,215,117 |
|
|
Merck & Co., Inc. |
76,099 |
3,276,062 |
|
|
Pfizer, Inc. |
173,173 |
4,131,908 |
|
|
|
16,461,450 |
||
|
TOTAL HEALTH CARE |
29,691,423 |
||
|
INDUSTRIALS - 8.8% |
|||
|
Aerospace & Defense - 3.3% |
|||
|
Alliant Techsystems, Inc. |
2,500 |
122,475 |
|
|
General Dynamics Corp. |
18,529 |
1,213,835 |
|
|
Honeywell International, Inc. |
11,280 |
659,316 |
|
|
Lockheed Martin Corp. |
14,113 |
1,286,259 |
|
|
Northrop Grumman Corp. |
17,810 |
1,191,311 |
|
|
Raytheon Co. |
21,110 |
1,193,137 |
|
|
The Boeing Co. |
4,596 |
328,154 |
|
|
United Technologies Corp. |
23,908 |
1,909,054 |
|
|
|
7,903,541 |
||
|
Air Freight & Logistics - 0.3% |
|||
|
United Parcel Service, Inc. Class B |
7,654 |
564,942 |
|
|
Electrical Equipment - 0.0% |
|||
|
Emerson Electric Co. (e) |
400 |
20,288 |
|
|
Industrial Conglomerates - 2.9% |
|||
|
3M Co. |
21,834 |
2,021,828 |
|
|
General Electric Co. |
238,881 |
4,947,226 |
|
|
|
6,969,054 |
||
|
Machinery - 0.7% |
|||
|
Caterpillar, Inc. |
2,781 |
237,303 |
|
|
Cummins, Inc. |
11,458 |
1,112,686 |
|
|
Deere & Co. (e) |
135 |
10,140 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INDUSTRIALS - continued |
|||
|
Machinery - continued |
|||
|
Dover Corp. |
3,145 |
$ 181,812 |
|
|
Lincoln Electric Holdings, Inc. |
2,600 |
107,250 |
|
|
|
1,649,191 |
||
|
Road & Rail - 1.6% |
|||
|
CSX Corp. |
36,192 |
812,872 |
|
|
Norfolk Southern Corp. |
17,113 |
1,240,008 |
|
|
Union Pacific Corp. |
14,733 |
1,789,176 |
|
|
|
3,842,056 |
||
|
TOTAL INDUSTRIALS |
20,949,072 |
||
|
INFORMATION TECHNOLOGY - 19.7% |
|||
|
Communications Equipment - 1.7% |
|||
|
Cisco Systems, Inc. |
144,937 |
2,765,398 |
|
|
QUALCOMM, Inc. |
19,711 |
1,211,438 |
|
|
|
3,976,836 |
||
|
Computers & Peripherals - 4.8% |
|||
|
Apple, Inc. |
16,718 |
11,121,478 |
|
|
EMC Corp. (a) |
11,129 |
292,581 |
|
|
Hewlett-Packard Co. |
1,497 |
25,269 |
|
|
|
11,439,328 |
||
|
Internet Software & Services - 1.8% |
|||
|
eBay, Inc. (a) |
5,000 |
237,350 |
|
|
Google, Inc. Class A (a) |
6,029 |
4,130,408 |
|
|
|
4,367,758 |
||
|
IT Services - 4.6% |
|||
|
Accenture PLC Class A |
24,881 |
1,532,670 |
|
|
Fidelity National Information Services, Inc. |
28,066 |
884,079 |
|
|
Fiserv, Inc. (a) |
142 |
10,126 |
|
|
IBM Corp. |
20,335 |
3,962,275 |
|
|
MasterCard, Inc. Class A |
3,830 |
1,619,707 |
|
|
Total System Services, Inc. |
37,300 |
864,614 |
|
|
Visa, Inc. Class A |
16,195 |
2,077,009 |
|
|
|
10,950,480 |
||
|
Semiconductors & Semiconductor Equipment - 2.8% |
|||
|
Avago Technologies Ltd. |
23,460 |
857,932 |
|
|
Broadcom Corp. Class A |
312 |
11,085 |
|
|
Intel Corp. |
126,673 |
3,145,291 |
|
|
KLA-Tencor Corp. |
19,300 |
990,283 |
|
|
LSI Corp. (a) |
1,600 |
12,464 |
|
|
Marvell Technology Group Ltd. |
69,014 |
702,563 |
|
|
Maxim Integrated Products, Inc. |
31,213 |
847,121 |
|
|
|
6,566,739 |
||
|
Software - 4.0% |
|||
|
Activision Blizzard, Inc. |
52,022 |
611,779 |
|
|
Intuit, Inc. |
11,600 |
679,064 |
|
|
|
|||
|
Shares |
Value |
||
|
Microsoft Corp. |
163,097 |
$ 5,026,650 |
|
|
Oracle Corp. |
100,501 |
3,180,857 |
|
|
|
9,498,350 |
||
|
TOTAL INFORMATION TECHNOLOGY |
46,799,491 |
||
|
MATERIALS - 2.8% |
|||
|
Chemicals - 2.8% |
|||
|
CF Industries Holdings, Inc. |
6,207 |
1,284,911 |
|
|
E.I. du Pont de Nemours & Co. (e) |
1,861 |
92,585 |
|
|
Eastman Chemical Co. |
18,791 |
1,038,391 |
|
|
LyondellBasell Industries NV Class A |
22,223 |
1,085,371 |
|
|
Monsanto Co. |
20,387 |
1,775,912 |
|
|
PPG Industries, Inc. |
11,440 |
1,258,629 |
|
|
|
6,535,799 |
||
|
Metals & Mining - 0.0% |
|||
|
Freeport-McMoRan Copper & Gold, Inc. |
370 |
13,361 |
|
|
Paper & Forest Products - 0.0% |
|||
|
International Paper Co. |
400 |
13,824 |
|
|
TOTAL MATERIALS |
6,562,984 |
||
|
TELECOMMUNICATION SERVICES - 3.3% |
|||
|
Diversified Telecommunication Services - 3.3% |
|||
|
AT&T, Inc. |
129,536 |
4,746,199 |
|
|
Verizon Communications, Inc. |
73,316 |
3,148,189 |
|
|
|
7,894,388 |
||
|
UTILITIES - 4.4% |
|||
|
Electric Utilities - 2.4% |
|||
|
American Electric Power Co., Inc. |
29,924 |
1,286,433 |
|
|
Duke Energy Corp. |
24,746 |
1,603,046 |
|
|
Entergy Corp. |
15,565 |
1,059,665 |
|
|
NV Energy, Inc. |
39,100 |
685,814 |
|
|
Southern Co. |
21,437 |
971,739 |
|
|
|
5,606,697 |
||
|
Multi-Utilities - 2.0% |
|||
|
Ameren Corp. |
15,150 |
495,708 |
|
|
CenterPoint Energy, Inc. |
49,217 |
1,003,535 |
|
|
Consolidated Edison, Inc. |
18,441 |
1,117,893 |
|
|
DTE Energy Co. |
13,387 |
781,801 |
|
|
PG&E Corp. |
7,300 |
316,893 |
|
|
Public Service Enterprise Group, Inc. |
36,334 |
1,150,334 |
|
|
|
4,866,164 |
||
|
TOTAL UTILITIES |
10,472,861 |
||
|
TOTAL COMMON STOCKS (Cost $229,862,564) |
|
||
|
U.S. Treasury Obligations - 0.1% |
||||
|
|
Principal Amount |
Value |
||
|
U.S. Treasury Bills, yield at date of purchase 0.12% 12/6/12 (f) |
|
$ 300,000 |
$ 299,927 |
|
|
Money Market Funds - 2.3% |
|||
|
Shares |
|
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
2,695,447 |
2,695,447 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
2,765,325 |
2,765,325 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $5,460,772) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 100.8% (Cost $235,623,238) |
239,368,977 |
|
|
NET OTHER ASSETS (LIABILITIES) - (0.8)% |
(2,001,335) |
||
|
NET ASSETS - 100% |
$ 237,367,642 |
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
53 CME E-mini S&P 500 Index Contracts |
Sept. 2012 |
$ 3,723,515 |
$ 45,559 |
||
|
The face value of futures purchased as a percentage of net assets is 1.6% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $199,951. |
|
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 Securities Lending Cash Central Fund |
$ 11,072 |
|
Other Information |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 23,869,358 |
$ 23,869,358 |
$ - |
$ - |
|
Consumer Staples |
27,998,443 |
27,998,443 |
- |
- |
|
Energy |
27,594,839 |
27,594,839 |
- |
- |
|
Financials |
31,775,419 |
31,775,419 |
- |
- |
|
Health Care |
29,691,423 |
29,691,423 |
- |
- |
|
Industrials |
20,949,072 |
20,949,072 |
- |
- |
|
Information Technology |
46,799,491 |
46,799,491 |
- |
- |
|
Materials |
6,562,984 |
6,562,984 |
- |
- |
|
Telecommunication Services |
7,894,388 |
7,894,388 |
- |
- |
|
Utilities |
10,472,861 |
10,472,861 |
- |
- |
|
U.S. Government and Government Agency Obligations |
299,927 |
- |
299,927 |
- |
|
Money Market Funds |
5,460,772 |
5,460,772 |
- |
- |
|
Total Investments in Securities: |
$ 239,368,977 |
$ 239,069,050 |
$ 299,927 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 45,559 |
$ 45,559 |
$ - |
$ - |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 45,559 |
$ - |
|
Total Value of Derivatives |
$ 45,559 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Large Cap Core Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $2,712,083) - See accompanying schedule: Unaffiliated issuers (cost $232,857,913) |
$ 236,603,652 |
|
|
Fidelity Central Funds (cost $2,765,325) |
2,765,325 |
|
|
Total Investments (cost $235,623,238) |
|
$ 239,368,977 |
|
Receivable for fund shares sold |
|
148,871 |
|
Dividends receivable |
|
707,695 |
|
Interest receivable |
|
127 |
|
Distributions receivable from Fidelity Central Funds |
|
1,742 |
|
Receivable for daily variation margin on futures contracts |
|
20,853 |
|
Total assets |
|
240,248,265 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for fund shares redeemed |
$ 27,070 |
|
|
Accrued management fee |
58,820 |
|
|
Other affiliated payables |
29,408 |
|
|
Collateral on securities loaned, at value |
2,765,325 |
|
|
Total liabilities |
|
2,880,623 |
|
|
|
|
|
Net Assets |
|
$ 237,367,642 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 248,485,463 |
|
Undistributed net investment income |
|
2,314,932 |
|
Accumulated undistributed net realized gain (loss) on investments |
|
(17,224,051) |
|
Net unrealized appreciation (depreciation) on investments |
|
3,791,298 |
|
Net Assets, for 23,642,711 shares outstanding |
|
$ 237,367,642 |
|
Net Asset Value, offering price and redemption price per share ($237,367,642 ÷ 23,642,711 shares) |
|
$ 10.04 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 2,852,445 |
|
Interest |
|
1,540 |
|
Income from Fidelity Central Funds |
|
11,072 |
|
Total income |
|
2,865,057 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 364,476 |
|
|
Transfer agent fees |
183,026 |
|
|
Independent trustees' compensation |
1,506 |
|
|
Interest |
779 |
|
|
Miscellaneous |
347 |
|
|
Total expenses before reductions |
550,134 |
|
|
Expense reductions |
(1) |
550,133 |
|
Net investment income (loss) |
|
2,314,924 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
3,096,528 |
|
|
Futures contracts |
43,553 |
|
|
Total net realized gain (loss) |
|
3,140,081 |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
1,921,955 |
|
|
Futures contracts |
(188,062) |
|
|
Total change in net unrealized appreciation (depreciation) |
|
1,733,893 |
|
Net gain (loss) |
|
4,873,974 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ 7,188,898 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fund Name
Financial Statements - continued
Statement of Changes in Net Assets
|
|
Six months ended August 31, 2012 (Unaudited) |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 2,314,924 |
$ 5,034,728 |
|
Net realized gain (loss) |
3,140,081 |
18,244,681 |
|
Change in net unrealized appreciation (depreciation) |
1,733,893 |
(28,944,074) |
|
Net increase (decrease) in net assets resulting from operations |
7,188,898 |
(5,664,665) |
|
Distributions to shareholders from net investment income |
- |
(2,264,397) |
|
Share transactions |
29,550,475 |
212,282,081 |
|
Reinvestment of distributions |
- |
2,249,226 |
|
Cost of shares redeemed |
(61,596,496) |
(913,023,187) |
|
Net increase (decrease) in net assets resulting from share transactions |
(32,046,021) |
(698,491,880) |
|
Total increase (decrease) in net assets |
(24,857,123) |
(706,420,942) |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
262,224,765 |
968,645,707 |
|
End of period (including undistributed net investment income of $2,314,932 and undistributed net investment income of $8, respectively) |
$ 237,367,642 |
$ 262,224,765 |
|
Other Information Shares |
|
|
|
Sold |
3,045,412 |
23,586,792 |
|
Issued in reinvestment of distributions |
- |
247,985 |
|
Redeemed |
(6,492,830) |
(103,303,937) |
|
Net increase (decrease) |
(3,447,418) |
(79,469,160) |
Financial Highlights
|
|
Six months
ended |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 J |
2011 |
2010 |
2009 |
2008 H |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 9.68 |
$ 9.09 |
$ 7.69 |
$ 5.27 |
$ 9.20 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.09 |
.14 |
.13 |
.12 |
.16 |
.15 |
|
Net realized and unrealized gain (loss) |
.27 |
.48 G |
1.42 |
2.43 |
(3.95) |
(.90) |
|
Total from investment operations |
.36 |
.62 |
1.55 |
2.55 |
(3.79) |
(.75) |
|
Distributions from net investment income |
- |
(.03) |
(.15) |
(.13) |
(.14) |
(.05) |
|
Net asset value, end of period |
$ 10.04 |
$ 9.68 |
$ 9.09 |
$ 7.69 |
$ 5.27 |
$ 9.20 |
|
Total Return B, C |
3.72% |
6.78% |
20.25% |
48.52% |
(41.51)% |
(7.59)% |
|
Ratios to Average Net Assets E, I |
|
|
|
|
|
|
|
Expenses before reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of fee waivers, if any |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Expenses net of all reductions |
.45% A |
.45% |
.45% |
.45% |
.45% |
.45% A |
|
Net investment income (loss) |
1.90% A |
1.53% |
1.58% |
1.76% |
2.05% |
1.83% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 237,368 |
$ 262,225 |
$ 968,646 |
$ 1,006,185 |
$ 723,548 |
$ 834,523 |
|
Portfolio turnover rate F |
93% A |
104% |
64% |
60% K |
45% K |
5% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Calculated based on average shares outstanding during the period.
E Fees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds.
F Amount does not include the portfolio activity of any underlying funds and Fidelity Central Funds.
G The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
H For the period April 19, 2007 (commencement of operations) to February 29, 2008.
I Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
J For the year ended February 29.
K Reflects adjustments to exclude transactions in money market mutual funds.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Mid Cap Enhanced Index Fund
Investment Changes (Unaudited)
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Valero Energy Corp. |
1.0 |
0.8 |
|
Macy's, Inc. |
0.9 |
0.9 |
|
Marathon Petroleum Corp. |
0.9 |
0.0 |
|
PPG Industries, Inc. |
0.9 |
0.8 |
|
Bed Bath & Beyond, Inc. |
0.9 |
0.8 |
|
Gap, Inc. |
0.9 |
0.7 |
|
Intuit, Inc. |
0.9 |
0.8 |
|
McGraw-Hill Companies, Inc. |
0.8 |
0.7 |
|
Weyerhaeuser Co. |
0.8 |
0.7 |
|
Tesoro Corp. |
0.8 |
0.5 |
|
|
8.8 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Financials |
17.7 |
16.7 |
|
Consumer Discretionary |
16.4 |
15.9 |
|
Information Technology |
14.3 |
15.1 |
|
Health Care |
11.6 |
9.7 |
|
Industrials |
10.4 |
13.3 |
|
Utilities |
7.5 |
4.7 |
|
Consumer Staples |
7.4 |
6.9 |
|
Energy |
6.9 |
7.7 |
|
Materials |
4.4 |
6.6 |
|
Telecommunication Services |
1.6 |
1.1 |
Semiannual Report
Fidelity Mid Cap Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 98.2% |
|||
|
Shares |
Value |
||
|
CONSUMER DISCRETIONARY - 16.4% |
|||
|
Auto Components - 1.5% |
|||
|
Autoliv, Inc. |
3,949 |
$ 234,136 |
|
|
Delphi Automotive PLC |
18,108 |
548,491 |
|
|
Lear Corp. |
10,239 |
397,580 |
|
|
|
1,180,207 |
||
|
Distributors - 0.7% |
|||
|
Genuine Parts Co. |
7,987 |
504,459 |
|
|
Hotels, Restaurants & Leisure - 0.7% |
|||
|
Wyndham Worldwide Corp. |
9,553 |
498,093 |
|
|
Household Durables - 0.7% |
|||
|
PulteGroup, Inc. (a)(e) |
40,400 |
552,672 |
|
|
Internet & Catalog Retail - 0.7% |
|||
|
Liberty Media Corp. Interactive Series A (a) |
28,800 |
525,312 |
|
|
Leisure Equipment & Products - 0.6% |
|||
|
Polaris Industries, Inc. |
6,379 |
479,637 |
|
|
Media - 2.9% |
|||
|
DISH Network Corp. Class A |
15,522 |
496,549 |
|
|
Gannett Co., Inc. |
10,000 |
152,600 |
|
|
Interpublic Group of Companies, Inc. |
20,100 |
213,864 |
|
|
Liberty Media Corp.: |
|
|
|
|
Capital Series A (a) |
6,140 |
640,279 |
|
|
rights (a) |
480 |
0 |
|
|
Series A (a) |
1,440 |
66,226 |
|
|
McGraw-Hill Companies, Inc. |
12,676 |
649,011 |
|
|
|
2,218,529 |
||
|
Multiline Retail - 2.3% |
|||
|
Dillard's, Inc. Class A |
4,200 |
315,336 |
|
|
Dollar General Corp. (a) |
9,271 |
473,470 |
|
|
Dollar Tree, Inc. (a) |
6,000 |
289,020 |
|
|
Macy's, Inc. |
18,043 |
727,313 |
|
|
|
1,805,139 |
||
|
Specialty Retail - 5.9% |
|||
|
Bed Bath & Beyond, Inc. (a) |
10,094 |
678,014 |
|
|
Best Buy Co., Inc. |
4,902 |
86,961 |
|
|
Foot Locker, Inc. |
14,105 |
487,610 |
|
|
Gap, Inc. (e) |
18,764 |
672,126 |
|
|
Limited Brands, Inc. |
12,360 |
600,696 |
|
|
PetSmart, Inc. |
7,845 |
556,367 |
|
|
Ross Stores, Inc. |
9,107 |
630,113 |
|
|
Signet Jewelers Ltd. |
3,078 |
141,157 |
|
|
Staples, Inc. (e) |
30,003 |
327,633 |
|
|
TJX Companies, Inc. |
9,091 |
416,277 |
|
|
|
4,596,954 |
||
|
Textiles, Apparel & Luxury Goods - 0.4% |
|||
|
Coach, Inc. |
5,133 |
298,381 |
|
|
TOTAL CONSUMER DISCRETIONARY |
12,659,383 |
||
|
|
|||
|
Shares |
Value |
||
|
CONSUMER STAPLES - 7.4% |
|||
|
Beverages - 3.7% |
|||
|
Beam, Inc. |
8,504 |
$ 496,293 |
|
|
Brown-Forman Corp. Class B (non-vtg.) |
6,219 |
398,638 |
|
|
Coca-Cola Enterprises, Inc. |
16,893 |
498,850 |
|
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
14,535 |
478,783 |
|
|
Dr Pepper Snapple Group, Inc. |
11,554 |
517,735 |
|
|
Monster Beverage Corp. (a) |
7,890 |
464,958 |
|
|
|
2,855,257 |
||
|
Food & Staples Retailing - 1.2% |
|||
|
Kroger Co. |
24,000 |
534,720 |
|
|
Safeway, Inc. (e) |
23,104 |
361,578 |
|
|
|
896,298 |
||
|
Food Products - 2.5% |
|||
|
Campbell Soup Co. |
3,935 |
138,276 |
|
|
ConAgra Foods, Inc. |
20,180 |
506,720 |
|
|
Hormel Foods Corp. (e) |
13,515 |
388,151 |
|
|
Smithfield Foods, Inc. (a) |
168 |
3,246 |
|
|
The Hershey Co. |
7,289 |
523,496 |
|
|
Tyson Foods, Inc. Class A |
24,763 |
387,789 |
|
|
|
1,947,678 |
||
|
Personal Products - 0.0% |
|||
|
Avon Products, Inc. |
1,081 |
16,701 |
|
|
Herbalife Ltd. |
469 |
22,695 |
|
|
|
39,396 |
||
|
TOTAL CONSUMER STAPLES |
5,738,629 |
||
|
ENERGY - 6.9% |
|||
|
Energy Equipment & Services - 1.6% |
|||
|
Diamond Offshore Drilling, Inc. (e) |
6,263 |
419,746 |
|
|
Helix Energy Solutions Group, Inc. (a) |
4,600 |
81,052 |
|
|
McDermott International, Inc. (a) |
32,539 |
362,484 |
|
|
Oceaneering International, Inc. |
6,929 |
370,979 |
|
|
SEACOR Holdings, Inc. (a) |
7 |
602 |
|
|
|
1,234,863 |
||
|
Oil, Gas & Consumable Fuels - 5.3% |
|||
|
Delek US Holdings, Inc. |
14,778 |
388,070 |
|
|
HollyFrontier Corp. |
14,739 |
593,834 |
|
|
Marathon Petroleum Corp. |
13,700 |
708,975 |
|
|
Murphy Oil Corp. |
10,523 |
540,146 |
|
|
Peabody Energy Corp. |
924 |
19,986 |
|
|
Tesoro Corp. |
16,202 |
643,867 |
|
|
Valero Energy Corp. |
24,394 |
762,556 |
|
|
Western Refining, Inc. |
16,848 |
471,239 |
|
|
|
4,128,673 |
||
|
TOTAL ENERGY |
5,363,536 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
FINANCIALS - 17.7% |
|||
|
Capital Markets - 1.6% |
|||
|
Ameriprise Financial, Inc. |
3,900 |
$ 214,149 |
|
|
Jefferies Group, Inc. |
28,200 |
414,258 |
|
|
Raymond James Financial, Inc. |
1,738 |
61,178 |
|
|
SEI Investments Co. |
20,712 |
450,486 |
|
|
Waddell & Reed Financial, Inc. Class A |
2,900 |
85,840 |
|
|
|
1,225,911 |
||
|
Commercial Banks - 4.4% |
|||
|
CapitalSource, Inc. |
29,500 |
204,435 |
|
|
East West Bancorp, Inc. |
14,819 |
325,129 |
|
|
Fifth Third Bancorp |
42,397 |
641,891 |
|
|
First Citizen Bancshares, Inc. |
375 |
61,928 |
|
|
Huntington Bancshares, Inc. |
68,653 |
453,110 |
|
|
KeyCorp |
60,948 |
513,792 |
|
|
Regions Financial Corp. |
81,217 |
565,270 |
|
|
SunTrust Banks, Inc. |
24,691 |
621,472 |
|
|
|
3,387,027 |
||
|
Consumer Finance - 0.5% |
|||
|
Discover Financial Services |
10,521 |
407,478 |
|
|
Diversified Financial Services - 0.5% |
|||
|
The NASDAQ Stock Market, Inc. |
16,563 |
378,796 |
|
|
Insurance - 4.7% |
|||
|
Allied World Assurance Co. Holdings Ltd. |
5,721 |
449,270 |
|
|
American International Group, Inc. (a) |
10,651 |
365,649 |
|
|
American International Group, Inc. warrants 1/19/21 (a) |
574 |
7,462 |
|
|
American National Insurance Co. |
475 |
33,578 |
|
|
Arch Capital Group Ltd. (a) |
2,757 |
110,032 |
|
|
Axis Capital Holdings Ltd. |
11,700 |
398,619 |
|
|
CNA Financial Corp. |
12,224 |
319,291 |
|
|
Everest Re Group Ltd. |
4,100 |
425,006 |
|
|
Fidelity National Financial, Inc. Class A |
20,249 |
381,491 |
|
|
HCC Insurance Holdings, Inc. |
3,662 |
121,139 |
|
|
Marsh & McLennan Companies, Inc. |
11,432 |
390,631 |
|
|
PartnerRe Ltd. |
3,200 |
234,880 |
|
|
Validus Holdings Ltd. |
12,511 |
419,244 |
|
|
|
3,656,292 |
||
|
Real Estate Investment Trusts - 5.9% |
|||
|
American Campus Communities, Inc. |
8,186 |
381,631 |
|
|
American Capital Mortgage Investment Corp. |
1,600 |
39,568 |
|
|
Apollo Residential Mortgage, Inc. |
4,998 |
102,159 |
|
|
Camden Property Trust (SBI) |
6,337 |
439,978 |
|
|
Chimera Investment Corp. |
144,300 |
366,522 |
|
|
Equity Lifestyle Properties, Inc. |
26 |
1,788 |
|
|
Equity Residential (SBI) |
119 |
7,188 |
|
|
Extra Space Storage, Inc. |
12,320 |
420,235 |
|
|
General Growth Properties, Inc. |
29,230 |
601,553 |
|
|
HCP, Inc. |
788 |
36,138 |
|
|
MFA Financial, Inc. |
47,690 |
390,581 |
|
|
|
|||
|
Shares |
Value |
||
|
Public Storage |
2,552 |
$ 371,469 |
|
|
Rayonier, Inc. |
9,630 |
471,774 |
|
|
Ventas, Inc. |
552 |
36,150 |
|
|
Vornado Realty Trust |
3,488 |
283,121 |
|
|
Weyerhaeuser Co. |
25,892 |
644,970 |
|
|
|
4,594,825 |
||
|
Real Estate Management & Development - 0.1% |
|||
|
Alexander & Baldwin, Inc. |
2,109 |
62,469 |
|
|
TOTAL FINANCIALS |
13,712,798 |
||
|
HEALTH CARE - 11.6% |
|||
|
Biotechnology - 2.4% |
|||
|
Alexion Pharmaceuticals, Inc. (a) |
455 |
48,781 |
|
|
Biogen Idec, Inc. (a) |
2,713 |
397,699 |
|
|
PDL BioPharma, Inc. (e) |
48,831 |
359,396 |
|
|
Pharmacyclics, Inc. (a) |
6,255 |
418,585 |
|
|
United Therapeutics Corp. (a) |
8,158 |
441,511 |
|
|
Vertex Pharmaceuticals, Inc. (a) |
3,653 |
194,814 |
|
|
|
1,860,786 |
||
|
Health Care Equipment & Supplies - 2.9% |
|||
|
Boston Scientific Corp. (a) |
84,498 |
456,289 |
|
|
Hill-Rom Holdings, Inc. |
11,472 |
318,119 |
|
|
St. Jude Medical, Inc. |
13,900 |
524,864 |
|
|
Thoratec Corp. (a) |
11,278 |
382,211 |
|
|
Varian Medical Systems, Inc. (a) |
102 |
5,997 |
|
|
Zimmer Holdings, Inc. |
8,685 |
536,559 |
|
|
|
2,224,039 |
||
|
Health Care Providers & Services - 4.3% |
|||
|
AmerisourceBergen Corp. |
13,925 |
536,391 |
|
|
CIGNA Corp. |
7,811 |
357,509 |
|
|
Coventry Health Care, Inc. |
12,582 |
523,789 |
|
|
Health Net, Inc. (a) |
16,475 |
383,044 |
|
|
Humana, Inc. |
7,373 |
516,700 |
|
|
Omnicare, Inc. |
12,329 |
399,213 |
|
|
Quest Diagnostics, Inc. |
8,767 |
530,140 |
|
|
Wellcare Health Plans, Inc. (a) |
1,600 |
90,704 |
|
|
|
3,337,490 |
||
|
Life Sciences Tools & Services - 1.2% |
|||
|
Agilent Technologies, Inc. |
15,094 |
560,893 |
|
|
Charles River Laboratories International, Inc. (a) |
10,553 |
383,285 |
|
|
PerkinElmer, Inc. |
116 |
3,167 |
|
|
|
947,345 |
||
|
Pharmaceuticals - 0.8% |
|||
|
Forest Laboratories, Inc. (a) |
191 |
6,626 |
|
|
Warner Chilcott PLC |
2,991 |
40,737 |
|
|
Watson Pharmaceuticals, Inc. (a) |
7,310 |
594,669 |
|
|
|
642,032 |
||
|
TOTAL HEALTH CARE |
9,011,692 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INDUSTRIALS - 10.4% |
|||
|
Aerospace & Defense - 1.9% |
|||
|
Alliant Techsystems, Inc. |
7,815 |
$ 382,857 |
|
|
Engility Holdings, Inc. (a)(e) |
10,224 |
189,246 |
|
|
Exelis, Inc. |
37,859 |
382,376 |
|
|
L-3 Communications Holdings, Inc. |
6,633 |
465,902 |
|
|
Textron, Inc. |
2,800 |
74,816 |
|
|
|
1,495,197 |
||
|
Airlines - 0.8% |
|||
|
Copa Holdings SA Class A |
4,504 |
349,646 |
|
|
Southwest Airlines Co. |
33,800 |
302,172 |
|
|
|
651,818 |
||
|
Commercial Services & Supplies - 0.7% |
|||
|
Avery Dennison Corp. |
2,200 |
68,706 |
|
|
Republic Services, Inc. |
16,380 |
452,907 |
|
|
|
521,613 |
||
|
Construction & Engineering - 0.7% |
|||
|
Chicago Bridge & Iron Co. NV unit |
11,338 |
417,465 |
|
|
KBR, Inc. |
5,797 |
157,041 |
|
|
|
574,506 |
||
|
Electrical Equipment - 1.9% |
|||
|
AMETEK, Inc. |
15,168 |
520,414 |
|
|
Hubbell, Inc. Class B |
5,398 |
436,266 |
|
|
Rockwell Automation, Inc. |
6,749 |
486,333 |
|
|
|
1,443,013 |
||
|
Machinery - 3.8% |
|||
|
AGCO Corp. (a) |
8,435 |
355,029 |
|
|
CNH Global NV (a)(e) |
9,143 |
361,880 |
|
|
Dover Corp. |
9,140 |
528,383 |
|
|
Lincoln Electric Holdings, Inc. |
8,975 |
370,219 |
|
|
Parker Hannifin Corp. |
6,691 |
535,146 |
|
|
Timken Co. |
9,273 |
372,404 |
|
|
Wabtec Corp. |
5,425 |
423,910 |
|
|
Xylem, Inc. |
585 |
14,210 |
|
|
|
2,961,181 |
||
|
Professional Services - 0.6% |
|||
|
Equifax, Inc. |
9,315 |
426,441 |
|
|
TOTAL INDUSTRIALS |
8,073,769 |
||
|
INFORMATION TECHNOLOGY - 14.3% |
|||
|
Computers & Peripherals - 1.4% |
|||
|
Diebold, Inc. |
9,906 |
322,737 |
|
|
NetApp, Inc. (a) |
5,009 |
172,911 |
|
|
SanDisk Corp. (a) |
88 |
3,627 |
|
|
Western Digital Corp. (a)(e) |
14,185 |
593,217 |
|
|
|
1,092,492 |
||
|
|
|||
|
Shares |
Value |
||
|
Electronic Equipment & Components - 1.0% |
|||
|
Avnet, Inc. (a) |
12,700 |
$ 409,067 |
|
|
Tech Data Corp. (a)(e) |
7,000 |
340,060 |
|
|
|
749,127 |
||
|
Internet Software & Services - 0.5% |
|||
|
AOL, Inc. (a)(e) |
12,344 |
415,622 |
|
|
IT Services - 4.2% |
|||
|
Amdocs Ltd. |
14,192 |
457,550 |
|
|
CoreLogic, Inc. (a) |
16,437 |
404,350 |
|
|
DST Systems, Inc. |
579 |
29,460 |
|
|
Fidelity National Information Services, Inc. |
15,830 |
498,645 |
|
|
Fiserv, Inc. (a) |
7,137 |
508,939 |
|
|
Lender Processing Services, Inc. |
15,264 |
428,460 |
|
|
The Western Union Co. |
26,211 |
461,576 |
|
|
Total System Services, Inc. |
18,818 |
436,201 |
|
|
|
3,225,181 |
||
|
Semiconductors & Semiconductor Equipment - 3.7% |
|||
|
Avago Technologies Ltd. |
14,362 |
525,218 |
|
|
KLA-Tencor Corp. |
9,900 |
507,969 |
|
|
LSI Corp. (a) |
51,900 |
404,301 |
|
|
Marvell Technology Group Ltd. |
36,985 |
376,507 |
|
|
Maxim Integrated Products, Inc. |
18,100 |
491,234 |
|
|
Micron Technology, Inc. (a) |
100 |
621 |
|
|
NVIDIA Corp. (a) |
36,592 |
513,386 |
|
|
|
2,819,236 |
||
|
Software - 3.5% |
|||
|
Activision Blizzard, Inc. |
33,582 |
394,924 |
|
|
BMC Software, Inc. (a) |
11,432 |
473,285 |
|
|
CA Technologies, Inc. |
14,300 |
372,229 |
|
|
Intuit, Inc. |
11,462 |
670,985 |
|
|
Symantec Corp. (a) |
35,400 |
631,182 |
|
|
Synopsys, Inc. (a) |
5,599 |
184,935 |
|
|
|
2,727,540 |
||
|
TOTAL INFORMATION TECHNOLOGY |
11,029,198 |
||
|
MATERIALS - 4.4% |
|||
|
Chemicals - 4.4% |
|||
|
Airgas, Inc. |
3,992 |
331,615 |
|
|
Albemarle Corp. |
6,901 |
377,692 |
|
|
Cabot Corp. |
4,366 |
152,068 |
|
|
CF Industries Holdings, Inc. |
3,085 |
638,626 |
|
|
Eastman Chemical Co. |
10,457 |
577,854 |
|
|
Huntsman Corp. |
28,810 |
414,288 |
|
|
PPG Industries, Inc. |
6,347 |
698,297 |
|
|
Rockwood Holdings, Inc. |
3,250 |
153,855 |
|
|
Valspar Corp. |
400 |
21,336 |
|
|
|
3,365,631 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
MATERIALS - continued |
|||
|
Paper & Forest Products - 0.0% |
|||
|
International Paper Co. |
131 |
$ 4,527 |
|
|
TOTAL MATERIALS |
3,370,158 |
||
|
TELECOMMUNICATION SERVICES - 1.6% |
|||
|
Diversified Telecommunication Services - 0.5% |
|||
|
tw telecom, inc. (a) |
15,300 |
384,795 |
|
|
Wireless Telecommunication Services - 1.1% |
|||
|
MetroPCS Communications, Inc. (a) |
51,462 |
500,725 |
|
|
Telephone & Data Systems, Inc. |
15,672 |
384,277 |
|
|
|
885,002 |
||
|
TOTAL TELECOMMUNICATION SERVICES |
1,269,797 |
||
|
UTILITIES - 7.5% |
|||
|
Electric Utilities - 3.1% |
|||
|
Cleco Corp. |
1,330 |
54,437 |
|
|
Duke Energy Corp. |
4,914 |
318,329 |
|
|
Entergy Corp. |
8,092 |
550,903 |
|
|
NV Energy, Inc. |
23,868 |
418,645 |
|
|
Pinnacle West Capital Corp. (e) |
9,094 |
467,159 |
|
|
Xcel Energy, Inc. |
20,400 |
568,956 |
|
|
|
2,378,429 |
||
|
Independent Power Producers & Energy Traders - 0.6% |
|||
|
The AES Corp. |
38,916 |
443,253 |
|
|
Multi-Utilities - 3.2% |
|||
|
Alliant Energy Corp. |
3,500 |
154,280 |
|
|
Ameren Corp. |
14,495 |
474,276 |
|
|
CenterPoint Energy, Inc. |
25,348 |
516,846 |
|
|
CMS Energy Corp. |
18,937 |
436,877 |
|
|
Consolidated Edison, Inc. |
6,289 |
381,239 |
|
|
DTE Energy Co. |
8,200 |
478,880 |
|
|
MDU Resources Group, Inc. |
3,200 |
68,960 |
|
|
|
2,511,358 |
||
|
Water Utilities - 0.6% |
|||
|
American Water Works Co., Inc. |
12,650 |
466,406 |
|
|
TOTAL UTILITIES |
5,799,446 |
||
|
TOTAL COMMON STOCKS (Cost $67,809,585) |
|
||
|
U.S. Treasury Obligations - 0.2% |
||||
|
|
Principal Amount |
|
||
|
U.S. Treasury Bills, yield at date of purchase 0.15% 12/20/12 (f) |
|
$ 100,000 |
|
|
|
Money Market Funds - 6.7% |
|||
|
Shares |
Value |
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
1,131,678 |
$ 1,131,678 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
4,068,225 |
4,068,225 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $5,199,903) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 105.1% (Cost $73,109,443) |
81,328,280 |
||
|
NET OTHER ASSETS (LIABILITIES) - (5.1)% |
(3,927,016) |
||
|
NET ASSETS - 100% |
$ 77,401,264 |
||
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
14 CME E-mini S&P MidCap 400 Index Contracts |
Sept. 2012 |
$ 1,359,120 |
$ 78,050 |
||
|
|
|
The face value of futures purchased as a percentage of net assets is 1.8% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $99,971. |
|
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 Securities Lending Cash Central Fund |
$ 1,794 |
|
Other Information |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 12,659,383 |
$ 12,659,383 |
$ - |
$ - |
|
Consumer Staples |
5,738,629 |
5,738,629 |
- |
- |
|
Energy |
5,363,536 |
5,363,536 |
- |
- |
|
Financials |
13,712,798 |
13,712,798 |
- |
- |
|
Health Care |
9,011,692 |
9,011,692 |
- |
- |
|
Industrials |
8,073,769 |
8,073,769 |
- |
- |
|
Information Technology |
11,029,198 |
11,029,198 |
- |
- |
|
Materials |
3,370,158 |
3,370,158 |
- |
- |
|
Telecommunication Services |
1,269,797 |
1,269,797 |
- |
- |
|
Utilities |
5,799,446 |
5,799,446 |
- |
- |
|
U.S. Government and Government Agency Obligations |
99,971 |
- |
99,971 |
- |
|
Money Market Funds |
5,199,903 |
5,199,903 |
- |
- |
|
Total Investments in Securities: |
$ 81,328,280 |
$ 81,228,309 |
$ 99,971 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 78,050 |
$ 78,050 |
$ - |
$ - |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 78,050 |
$ - |
|
Total Value of Derivatives |
$ 78,050 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Mid Cap Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $3,983,004) - See accompanying schedule: Unaffiliated issuers (cost $69,041,218) |
$ 77,260,055 |
|
|
Fidelity Central Funds (cost $4,068,225) |
4,068,225 |
|
|
Total Investments (cost $73,109,443) |
|
$ 81,328,280 |
|
Receivable for fund shares sold |
|
94,068 |
|
Dividends receivable |
|
160,479 |
|
Interest receivable |
|
78 |
|
Distributions receivable from Fidelity Central Funds |
|
398 |
|
Receivable for daily variation margin on futures contracts |
|
7,560 |
|
Other receivables |
|
2 |
|
Total assets |
|
81,590,865 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for fund shares redeemed |
$ 82,947 |
|
|
Accrued management fee |
28,822 |
|
|
Other affiliated payables |
9,607 |
|
|
Collateral on securities loaned, at value |
4,068,225 |
|
|
Total liabilities |
|
4,189,601 |
|
|
|
|
|
Net Assets |
|
$ 77,401,264 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 71,146,039 |
|
Undistributed net investment income |
|
479,530 |
|
Accumulated undistributed net realized gain (loss) on investments |
|
(2,521,192) |
|
Net unrealized appreciation (depreciation) on investments |
|
8,296,887 |
|
Net Assets, for 7,945,685 shares outstanding |
|
$ 77,401,264 |
|
Net Asset Value, offering price and redemption price per share ($77,401,264 ÷ 7,945,685 shares) |
|
$ 9.74 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 713,906 |
|
Interest |
|
560 |
|
Income from Fidelity Central Funds |
|
1,794 |
|
Total income |
|
716,260 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 170,742 |
|
|
Transfer agent fees |
57,075 |
|
|
Independent trustees' compensation |
484 |
|
|
Miscellaneous |
109 |
|
|
Total expenses before reductions |
228,410 |
|
|
Expense reductions |
(1) |
228,409 |
|
Net investment income (loss) |
|
487,851 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
(385,385) |
|
|
Futures contracts |
209,024 |
|
|
Total net realized gain (loss) |
|
(176,361) |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
644,377 |
|
|
Futures contracts |
(140,054) |
|
|
Total change in net unrealized appreciation (depreciation) |
|
504,323 |
|
Net gain (loss) |
|
327,962 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ 815,813 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Changes in Net Assets
|
|
Six months ended |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 487,851 |
$ 724,409 |
|
Net realized gain (loss) |
(176,361) |
4,738,420 |
|
Change in net unrealized appreciation (depreciation) |
504,323 |
(4,487,136) |
|
Net increase (decrease) in net assets resulting from operations |
815,813 |
975,693 |
|
Distributions to shareholders from net investment income |
(127,078) |
(511,180) |
|
Distributions to shareholders from net realized gain |
(1,032,505) |
(4,128,001) |
|
Total distributions |
(1,159,583) |
(4,639,181) |
|
Share transactions |
10,610,937 |
48,633,295 |
|
Reinvestment of distributions |
1,124,029 |
4,485,129 |
|
Cost of shares redeemed |
(13,051,936) |
(32,503,734) |
|
Net increase (decrease) in net assets resulting from share transactions |
(1,316,970) |
20,614,690 |
|
Redemption fees |
534 |
6,307 |
|
Total increase (decrease) in net assets |
(1,660,206) |
16,957,509 |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
79,061,470 |
62,103,961 |
|
End of period (including undistributed net investment income of $479,530 and undistributed net investment income of $118,757, respectively) |
$ 77,401,264 |
$ 79,061,470 |
|
Other Information Shares |
|
|
|
Sold |
1,122,854 |
5,003,022 |
|
Issued in reinvestment of distributions |
117,453 |
482,205 |
|
Redeemed |
(1,374,350) |
(3,448,788) |
|
Net increase (decrease) |
(134,043) |
2,036,439 |
Financial Highlights
|
|
Six months ended August 31, 2012 |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 I |
2011 |
2010 |
2009 |
2008 G |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 9.79 |
$ 10.28 |
$ 8.33 |
$ 5.12 |
$ 9.16 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.06 |
.10 |
.10 |
.09 |
.10 |
.02 |
|
Net realized and unrealized gain (loss) |
.04 |
.05 |
2.30 |
3.20 |
(4.07) |
(.86) |
|
Total from investment operations |
.10 |
.15 |
2.40 |
3.29 |
(3.97) |
(.84) |
|
Distributions from net investment income |
(.02) |
(.07) |
(.10) |
(.08) |
(.08) |
- |
|
Distributions from net realized gain |
(.13) |
(.58) |
(.35) |
- |
- |
- |
|
Total distributions |
(.15) |
(.64) K |
(.45) |
(.08) |
(.08) |
- |
|
Redemption fees added to paid in capital D |
- J |
- J |
- J |
- J |
.01 |
- J |
|
Net asset value, end of period |
$ 9.74 |
$ 9.79 |
$ 10.28 |
$ 8.33 |
$ 5.12 |
$ 9.16 |
|
Total Return B,C |
1.01% |
1.91% |
29.44% |
64.37% |
(43.40)% |
(8.40)% |
|
Ratios to Average Net Assets E,H |
|
|
|
|
|
|
|
Expenses before reductions |
.60% A |
.60% |
.60% |
.60% |
.60% |
.60% A |
|
Expenses net of fee waivers, if any |
.60% A |
.60% |
.60% |
.60% |
.60% |
.60% A |
|
Expenses net of all reductions |
.60% A |
.60% |
.60% |
.60% |
.60% |
.60% A |
|
Net investment income (loss) |
1.28% A |
1.03% |
1.16% |
1.21% |
1.39% |
1.25% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 77,401 |
$ 79,061 |
$ 62,104 |
$ 33,617 |
$ 14,235 |
$ 5,967 |
|
Portfolio turnover rate F |
103% A |
92% |
59% |
80% L |
58% L |
16% |
|
AAnnualized BTotal returns for periods of less than one year are not annualized. CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown. DCalculated based on average shares outstanding during the period. EFees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds. FAmount does not include the portfolio activity of any underlying funds and Fidelity Central Funds. GFor the period December 20, 2007 (commencement of operations) to February 29, 2008. HExpense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund. IFor the year ended February 29. JAmount represents less than $.01 per share. KTotal distributions of $.64 per share is comprised of distributions from net investment income of $.069 and distributions from net realized gain of $.575 per share. LReflects adjustments to exclude transactions in money market mutual funds. |
||||||
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Small Cap Enhanced Index Fund
Investment Changes (Unaudited)
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
ANN, Inc. |
0.7 |
0.0 |
|
Eagle Materials, Inc. |
0.6 |
0.0 |
|
Maximus, Inc. |
0.7 |
0.5 |
|
Cleco Corp. |
0.7 |
0.6 |
|
Western Refining, Inc. |
0.7 |
0.5 |
|
Coeur d'Alene Mines Corp. |
0.6 |
0.1 |
|
Rent-A-Center, Inc. |
0.6 |
0.7 |
|
Wellcare Health Plans, Inc. |
0.7 |
0.8 |
|
Alaska Air Group, Inc. |
0.6 |
0.7 |
|
Fair Isaac Corp. |
0.6 |
0.7 |
|
|
6.5 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Financials |
21.7 |
19.8 |
|
Information Technology |
14.8 |
17.2 |
|
Consumer Discretionary |
14.3 |
15.1 |
|
Industrials |
13.5 |
14.5 |
|
Health Care |
12.2 |
10.9 |
|
Materials |
6.5 |
6.6 |
|
Utilities |
4.8 |
2.8 |
|
Energy |
4.2 |
6.4 |
|
Consumer Staples |
2.7 |
3.5 |
|
Telecommunication Services |
0.5 |
0.8 |
Semiannual Report
Fidelity Small Cap Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 95.2% |
|||
|
Shares |
Value |
||
|
CONSUMER DISCRETIONARY - 14.3% |
|||
|
Auto Components - 1.2% |
|||
|
Cooper Tire & Rubber Co. |
37,331 |
$ 746,247 |
|
|
Dana Holding Corp. |
38,196 |
521,757 |
|
|
Standard Motor Products, Inc. |
11,434 |
201,696 |
|
|
|
1,469,700 |
||
|
Distributors - 0.2% |
|||
|
Core-Mark Holding Co., Inc. |
1,095 |
49,866 |
|
|
VOXX International Corp. (a) |
23,635 |
177,263 |
|
|
|
227,129 |
||
|
Diversified Consumer Services - 0.0% |
|||
|
Lincoln Educational Services Corp. |
9,604 |
40,817 |
|
|
Hotels, Restaurants & Leisure - 3.4% |
|||
|
AFC Enterprises, Inc. (a) |
2,499 |
60,026 |
|
|
Ameristar Casinos, Inc. |
25,168 |
424,081 |
|
|
Biglari Holdings, Inc. (a) |
518 |
182,025 |
|
|
Bob Evans Farms, Inc. |
17,000 |
668,780 |
|
|
Carrols Restaurant Group, Inc. (a) |
1,111 |
6,310 |
|
|
CEC Entertainment, Inc. |
2,000 |
59,420 |
|
|
Cracker Barrel Old Country Store, Inc. |
6,900 |
434,562 |
|
|
Einstein Noah Restaurant Group, Inc. |
4,200 |
72,576 |
|
|
Fiesta Restaurant Group, Inc. (a) |
9,051 |
145,359 |
|
|
Frisch's Restaurants, Inc. |
1,400 |
46,214 |
|
|
Interval Leisure Group, Inc. |
3,600 |
66,420 |
|
|
Multimedia Games Holding Co., Inc. (a) |
27,881 |
436,895 |
|
|
Papa John's International, Inc. (a) |
13,073 |
673,129 |
|
|
Ruth's Hospitality Group, Inc. (a) |
7,367 |
45,086 |
|
|
Sonic Corp. (a) |
54,665 |
512,211 |
|
|
Texas Roadhouse, Inc. Class A |
11,400 |
195,738 |
|
|
The Cheesecake Factory, Inc. (e) |
1,800 |
59,778 |
|
|
Town Sports International Holdings, Inc. (a) |
4,057 |
52,822 |
|
|
|
4,141,432 |
||
|
Household Durables - 1.4% |
|||
|
Blyth, Inc. (e) |
3,485 |
147,485 |
|
|
Libbey, Inc. (a) |
7,904 |
116,110 |
|
|
M.D.C. Holdings, Inc. |
20,000 |
693,600 |
|
|
Meritage Homes Corp. (a) |
7,200 |
268,344 |
|
|
Tupperware Brands Corp. |
9,194 |
491,695 |
|
|
|
1,717,234 |
||
|
Internet & Catalog Retail - 0.3% |
|||
|
HSN, Inc. |
6,600 |
297,198 |
|
|
Orbitz Worldwide, Inc. (a) |
15,406 |
43,753 |
|
|
PetMed Express, Inc. |
2,158 |
22,184 |
|
|
|
363,135 |
||
|
Leisure Equipment & Products - 3.0% |
|||
|
Arctic Cat, Inc. (a) |
15,707 |
679,485 |
|
|
Brunswick Corp. |
31,633 |
749,386 |
|
|
Leapfrog Enterprises, Inc. Class A (a) |
55,943 |
606,422 |
|
|
Polaris Industries, Inc. |
8,228 |
618,663 |
|
|
|
|||
|
Shares |
Value |
||
|
Smith & Wesson Holding Corp. (a) |
71,279 |
$ 573,083 |
|
|
Steinway Musical Instruments, Inc. (a) |
292 |
7,271 |
|
|
Sturm, Ruger & Co., Inc. (e) |
12,019 |
520,423 |
|
|
|
3,754,733 |
||
|
Media - 0.8% |
|||
|
Arbitron, Inc. |
3,800 |
133,646 |
|
|
Cinemark Holdings, Inc. |
22,300 |
522,266 |
|
|
Global Sources Ltd. (a) |
53,046 |
310,319 |
|
|
|
966,231 |
||
|
Specialty Retail - 3.4% |
|||
|
Aeropostale, Inc. (a) |
24,251 |
337,816 |
|
|
ANN, Inc. (a) |
23,600 |
839,688 |
|
|
Ascena Retail Group, Inc. (a) |
29,200 |
578,160 |
|
|
Big 5 Sporting Goods Corp. |
1,596 |
13,598 |
|
|
Brown Shoe Co., Inc. |
17,900 |
268,679 |
|
|
Destination Maternity Corp. |
7,700 |
141,295 |
|
|
Express, Inc. (a) |
25,487 |
397,852 |
|
|
Finish Line, Inc. Class A |
9,775 |
224,434 |
|
|
Group 1 Automotive, Inc. |
339 |
18,648 |
|
|
Kirkland's, Inc. (a) |
622 |
6,033 |
|
|
Rent-A-Center, Inc. |
22,815 |
804,913 |
|
|
Shoe Carnival, Inc. |
3,295 |
72,490 |
|
|
The Cato Corp. Class A (sub. vtg.) |
17,728 |
520,671 |
|
|
|
4,224,277 |
||
|
Textiles, Apparel & Luxury Goods - 0.6% |
|||
|
Movado Group, Inc. |
21,645 |
761,038 |
|
|
Unifi, Inc. (a) |
1,048 |
11,612 |
|
|
|
772,650 |
||
|
TOTAL CONSUMER DISCRETIONARY |
17,677,338 |
||
|
CONSUMER STAPLES - 2.7% |
|||
|
Beverages - 0.1% |
|||
|
Coca-Cola Bottling Co. CONSOLIDATED |
1,450 |
99,528 |
|
|
Food & Staples Retailing - 0.7% |
|||
|
Harris Teeter Supermarkets, Inc. |
19,459 |
760,263 |
|
|
Ingles Markets, Inc. Class A |
800 |
12,776 |
|
|
Roundy's, Inc. |
185 |
1,386 |
|
|
Susser Holdings Corp. (a) |
2,308 |
78,518 |
|
|
The Pantry, Inc. (a) |
1,623 |
22,754 |
|
|
|
875,697 |
||
|
Food Products - 0.7% |
|||
|
Alico, Inc. |
334 |
10,564 |
|
|
Cal-Maine Foods, Inc. (e) |
1,600 |
64,288 |
|
|
Darling International, Inc. (a) |
627 |
10,421 |
|
|
Fresh Del Monte Produce, Inc. |
25,464 |
628,961 |
|
|
Omega Protein Corp. (a) |
15,007 |
108,351 |
|
|
Seneca Foods Corp. Class A (a) |
815 |
23,317 |
|
|
|
845,902 |
||
|
Household Products - 0.2% |
|||
|
Central Garden & Pet Co. Class A (non-vtg.) (a) |
9,100 |
107,380 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
CONSUMER STAPLES - continued |
|||
|
Household Products - continued |
|||
|
Orchids Paper Products Co. |
3,000 |
$ 53,760 |
|
|
WD-40 Co. |
1,500 |
73,215 |
|
|
|
234,355 |
||
|
Personal Products - 1.0% |
|||
|
Elizabeth Arden, Inc. (a) |
295 |
13,729 |
|
|
MediFast, Inc. (a) |
15,285 |
426,299 |
|
|
Nature's Sunshine Products, Inc. |
4,461 |
70,350 |
|
|
Nu Skin Enterprises, Inc. Class A |
12,623 |
523,728 |
|
|
Nutraceutical International Corp. (a) |
1,100 |
16,830 |
|
|
Schiff Nutrition International, Inc. (a) |
300 |
5,784 |
|
|
USANA Health Sciences, Inc. (a) |
5,953 |
269,969 |
|
|
|
1,326,689 |
||
|
TOTAL CONSUMER STAPLES |
3,382,171 |
||
|
ENERGY - 4.2% |
|||
|
Energy Equipment & Services - 1.6% |
|||
|
Bristow Group, Inc. |
4,688 |
219,820 |
|
|
Gulf Island Fabrication, Inc. |
4,731 |
123,101 |
|
|
Helix Energy Solutions Group, Inc. (a) |
43,461 |
765,783 |
|
|
Hercules Offshore, Inc. (a) |
5,330 |
21,906 |
|
|
Natural Gas Services Group, Inc. (a) |
1,500 |
20,685 |
|
|
OYO Geospace Corp. (a) |
3,764 |
344,745 |
|
|
Parker Drilling Co. (a) |
21,300 |
88,182 |
|
|
RigNet, Inc. (a) |
10,534 |
187,084 |
|
|
Superior Energy Services, Inc. (a) |
3,052 |
63,390 |
|
|
Tesco Corp. (a) |
15,930 |
161,849 |
|
|
|
1,996,545 |
||
|
Oil, Gas & Consumable Fuels - 2.6% |
|||
|
Adams Resources & Energy, Inc. |
839 |
29,449 |
|
|
Alon USA Energy, Inc. |
48,293 |
660,648 |
|
|
Callon Petroleum Co. (a) |
12,184 |
67,378 |
|
|
Crosstex Energy, Inc. |
4,685 |
58,094 |
|
|
CVR Energy, Inc. (a)(e) |
1,649 |
49,173 |
|
|
Delek US Holdings, Inc. |
23,300 |
611,858 |
|
|
DHT Holdings, Inc. |
13,354 |
73,848 |
|
|
Rex American Resources Corp. (a) |
10,809 |
188,077 |
|
|
Teekay Tankers Ltd. |
1,244 |
4,964 |
|
|
VAALCO Energy, Inc. (a)(e) |
74,999 |
555,743 |
|
|
Warren Resources, Inc. (a) |
26,841 |
78,107 |
|
|
Western Refining, Inc. |
29,300 |
819,521 |
|
|
|
3,196,860 |
||
|
TOTAL ENERGY |
5,193,405 |
||
|
FINANCIALS - 21.7% |
|||
|
Capital Markets - 1.0% |
|||
|
American Capital Ltd. (a) |
57,943 |
636,794 |
|
|
|
|||
|
Shares |
Value |
||
|
Calamos Asset Management, Inc. |
6,197 |
$ 68,973 |
|
|
Duff & Phelps Corp. Class A |
7,578 |
100,409 |
|
|
FBR Capital Markets Corp. (a) |
9,700 |
29,391 |
|
|
KCAP Financial, Inc. |
10,200 |
88,128 |
|
|
Medallion Financial Corp. |
2,647 |
30,149 |
|
|
NGP Capital Resources Co. |
1,600 |
11,952 |
|
|
SWS Group, Inc. (a) |
2,103 |
12,555 |
|
|
TCP Capital Corp. |
2,904 |
44,751 |
|
|
TICC Capital Corp. |
22,150 |
230,360 |
|
|
|
1,253,462 |
||
|
Commercial Banks - 6.1% |
|||
|
1st Source Corp. |
1,800 |
41,094 |
|
|
Alliance Financial Corp. |
2,608 |
95,635 |
|
|
American National Bankshares, Inc. |
2,386 |
53,208 |
|
|
Banco Latinoamericano de Exporaciones SA (BLADEX) Series E |
30,005 |
631,905 |
|
|
BancorpSouth, Inc. |
12,600 |
185,724 |
|
|
Bank of Marin Bancorp |
2,098 |
82,284 |
|
|
Bank of the Ozarks, Inc. |
1,150 |
36,915 |
|
|
Banner Bank |
28,652 |
692,805 |
|
|
BBCN Bancorp, Inc. (a) |
4,319 |
54,074 |
|
|
Boston Private Financial Holdings, Inc. |
832 |
7,896 |
|
|
Central Pacific Financial Corp. (a) |
10,932 |
151,955 |
|
|
Citizens & Northern Corp. |
5,231 |
100,226 |
|
|
Eagle Bancorp, Inc., Maryland (a) |
5,939 |
101,201 |
|
|
First Bancorp, Puerto Rico (a) |
14,553 |
55,592 |
|
|
First Community Bancshares, Inc. |
5,013 |
74,493 |
|
|
First Interstate Bancsystem, Inc. |
1,730 |
24,739 |
|
|
First Merchants Corp. |
25,248 |
355,492 |
|
|
FirstMerit Corp. |
15,700 |
246,333 |
|
|
Hanmi Financial Corp. (a) |
51,747 |
646,320 |
|
|
MainSource Financial Group, Inc. |
3,635 |
43,729 |
|
|
MB Financial, Inc. |
11,400 |
232,788 |
|
|
Mercantile Bank Corp. (a) |
1,900 |
32,205 |
|
|
Merchants Bancshares, Inc. |
12,912 |
361,665 |
|
|
Old National Bancorp, Indiana |
20,349 |
268,607 |
|
|
Pacific Continental Corp. |
1,863 |
16,748 |
|
|
PacWest Bancorp |
4,931 |
114,794 |
|
|
Peoples Bancorp, Inc. |
3,500 |
77,350 |
|
|
PrivateBancorp, Inc. |
27,578 |
449,521 |
|
|
Republic Bancorp, Inc., Kentucky Class A |
14,442 |
325,667 |
|
|
SCBT Financial Corp. |
1,917 |
77,083 |
|
|
Southwest Bancorp, Inc., Oklahoma (a) |
635 |
7,023 |
|
|
State Bank Financial Corp. |
8,456 |
136,987 |
|
|
StellarOne Corp. |
3,379 |
44,772 |
|
|
Sterling Financial Corp., Washington |
8,576 |
181,811 |
|
|
Susquehanna Bancshares, Inc. |
49,624 |
521,548 |
|
|
Union/First Market Bankshares Corp. |
3,725 |
54,683 |
|
|
United Community Banks, Inc., Georgia (a) |
700 |
5,586 |
|
|
Washington Banking Co., Oak Harbor |
459 |
6,256 |
|
|
Washington Trust Bancorp, Inc. |
6,933 |
171,661 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
FINANCIALS - continued |
|||
|
Commercial Banks - continued |
|||
|
WesBanco, Inc. |
8,531 |
$ 173,350 |
|
|
Wilshire Bancorp, Inc. (a) |
86,400 |
540,864 |
|
|
|
7,482,589 |
||
|
Consumer Finance - 0.9% |
|||
|
Credit Acceptance Corp. (a) |
3,881 |
382,123 |
|
|
Nelnet, Inc. Class A |
28,497 |
682,503 |
|
|
|
1,064,626 |
||
|
Diversified Financial Services - 0.7% |
|||
|
MarketAxess Holdings, Inc. |
17,581 |
572,613 |
|
|
Marlin Business Services Corp. |
1,539 |
25,455 |
|
|
MicroFinancial, Inc. |
2,107 |
18,963 |
|
|
PHH Corp. (a)(e) |
13,101 |
228,612 |
|
|
Vector Capital Corp. rights (a) |
8,300 |
0 |
|
|
|
845,643 |
||
|
Insurance - 2.2% |
|||
|
FBL Financial Group, Inc. Class A |
15,260 |
505,411 |
|
|
First American Financial Corp. |
38,450 |
740,932 |
|
|
Horace Mann Educators Corp. |
13,566 |
238,355 |
|
|
Maiden Holdings Ltd. |
25,090 |
230,326 |
|
|
Montpelier Re Holdings Ltd. |
13,699 |
295,350 |
|
|
Presidential Life Corp. |
5,100 |
71,094 |
|
|
ProAssurance Corp. |
5,836 |
520,746 |
|
|
Symetra Financial Corp. |
13,826 |
168,954 |
|
|
United Fire Group, Inc. |
645 |
14,280 |
|
|
|
2,785,448 |
||
|
Real Estate Investment Trusts - 9.3% |
|||
|
AG Mortgage Investment Trust, Inc. |
28,200 |
665,520 |
|
|
Alexanders, Inc. |
514 |
231,115 |
|
|
American Capital Mortgage Investment Corp. |
27,061 |
669,219 |
|
|
Anworth Mortgage Asset Corp. |
93,909 |
644,216 |
|
|
Apollo Commercial Real Estate Finance, Inc. |
7,800 |
136,656 |
|
|
Apollo Residential Mortgage, Inc. |
30,000 |
613,200 |
|
|
Capstead Mortgage Corp. |
51,443 |
737,693 |
|
|
CBL & Associates Properties, Inc. |
31,004 |
662,555 |
|
|
Crexus Investment Corp. |
49,610 |
509,991 |
|
|
CubeSmart |
16,300 |
210,270 |
|
|
Dynex Capital, Inc. |
6,791 |
70,966 |
|
|
Education Realty Trust, Inc. |
10,400 |
120,224 |
|
|
Extra Space Storage, Inc. |
19,169 |
653,855 |
|
|
First Industrial Realty Trust, Inc. (a) |
10,382 |
133,928 |
|
|
LTC Properties, Inc. |
19,228 |
648,753 |
|
|
MFA Financial, Inc. |
79,326 |
649,680 |
|
|
Mission West Properties, Inc. |
4,765 |
42,980 |
|
|
New York Mortgage Trust, Inc. (e) |
20,259 |
139,585 |
|
|
NorthStar Realty Finance Corp. (e) |
99,657 |
584,987 |
|
|
Pennymac Mortgage Investment Trust |
30,916 |
665,931 |
|
|
Potlatch Corp. |
4,000 |
144,240 |
|
|
PS Business Parks, Inc. |
10,010 |
682,382 |
|
|
|
|||
|
Shares |
Value |
||
|
RLJ Lodging Trust |
11,172 |
$ 199,308 |
|
|
Sabra Health Care REIT, Inc. |
14,893 |
285,499 |
|
|
Saul Centers, Inc. |
1,214 |
52,336 |
|
|
Starwood Property Trust, Inc. |
12,500 |
294,375 |
|
|
Sunstone Hotel Investors, Inc. (a) |
27,899 |
290,987 |
|
|
Western Asset Mortgage Capital Corp. |
25,615 |
549,186 |
|
|
Winthrop Realty Trust |
13,494 |
153,292 |
|
|
|
11,442,929 |
||
|
Thrifts & Mortgage Finance - 1.5% |
|||
|
Bank Mutual Corp. |
700 |
3,052 |
|
|
Dime Community Bancshares, Inc. |
21,899 |
306,148 |
|
|
Doral Financial Corp. (a) |
199,665 |
215,638 |
|
|
First Financial Holdings, Inc. |
2,621 |
33,496 |
|
|
Flagstar Bancorp, Inc. (a) |
132,315 |
124,839 |
|
|
Flushing Financial Corp. |
12,047 |
183,596 |
|
|
Fox Chase Bancorp, Inc. |
4,260 |
64,326 |
|
|
Home Loan Servicing Solutions Ltd. (e) |
12,726 |
199,162 |
|
|
HomeStreet, Inc. |
4,042 |
143,248 |
|
|
Kaiser Federal Financial Group, Inc. |
4,548 |
69,493 |
|
|
NASB Financial, Inc. (a) |
605 |
11,949 |
|
|
Ocwen Financial Corp. (a) |
4,900 |
126,077 |
|
|
Oritani Financial Corp. |
4,899 |
71,672 |
|
|
Provident Financial Holdings, Inc. |
1,165 |
15,366 |
|
|
Provident Financial Services, Inc. |
6,400 |
98,816 |
|
|
ViewPoint Financial Group |
5,500 |
101,365 |
|
|
Walker & Dunlop, Inc. (a) |
2,722 |
35,985 |
|
|
WSFS Financial Corp. |
853 |
34,606 |
|
|
|
1,838,834 |
||
|
TOTAL FINANCIALS |
26,713,531 |
||
|
HEALTH CARE - 12.2% |
|||
|
Biotechnology - 2.4% |
|||
|
Alkermes PLC (a) |
3,400 |
62,390 |
|
|
Allos Therapeutics, Inc. (a) |
8,044 |
14,560 |
|
|
Arena Pharmaceuticals, Inc. (a)(e) |
4,200 |
37,968 |
|
|
ARIAD Pharmaceuticals, Inc. (a) |
5,100 |
104,856 |
|
|
Array Biopharma, Inc. (a) |
41,800 |
231,572 |
|
|
Astex Pharmaceuticals, Inc. (a) |
74,361 |
210,442 |
|
|
Cepheid, Inc. (a)(e) |
1,929 |
72,800 |
|
|
Cubist Pharmaceuticals, Inc. (a) |
2,448 |
113,098 |
|
|
Emergent BioSolutions, Inc. (a) |
12,511 |
184,287 |
|
|
Genomic Health, Inc. (a) |
2,042 |
70,367 |
|
|
Geron Corp. (a) |
31,400 |
86,664 |
|
|
Incyte Corp. (a)(e) |
4,800 |
96,048 |
|
|
Maxygen, Inc. |
11,400 |
69,996 |
|
|
Momenta Pharmaceuticals, Inc. (a)(e) |
17,000 |
239,870 |
|
|
Nabi Biopharmaceuticals (a) |
71,928 |
115,085 |
|
|
Neurocrine Biosciences, Inc. (a) |
1,190 |
8,782 |
|
|
Osiris Therapeutics, Inc. (a)(e) |
3,097 |
28,028 |
|
|
PDL BioPharma, Inc. |
54,655 |
402,261 |
|
|
Pharmacyclics, Inc. (a) |
10,100 |
675,892 |
|
|
Progenics Pharmaceuticals, Inc. (a) |
10,355 |
42,248 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
HEALTH CARE - continued |
|||
|
Biotechnology - continued |
|||
|
Seattle Genetics, Inc. (a)(e) |
2,600 |
$ 69,004 |
|
|
Spectrum Pharmaceuticals, Inc. (a)(e) |
4,722 |
56,475 |
|
|
|
2,992,693 |
||
|
Health Care Equipment & Supplies - 3.0% |
|||
|
Analogic Corp. |
8,800 |
611,688 |
|
|
Atrion Corp. |
100 |
21,716 |
|
|
Cantel Medical Corp. |
2,854 |
73,519 |
|
|
CONMED Corp. |
5,566 |
150,393 |
|
|
Cyberonics, Inc. (a) |
2,300 |
114,839 |
|
|
Cynosure, Inc. Class A (a) |
333 |
8,658 |
|
|
Greatbatch, Inc. (a) |
13,370 |
309,516 |
|
|
Haemonetics Corp. (a) |
1,724 |
127,007 |
|
|
Invacare Corp. |
17,330 |
238,114 |
|
|
Natus Medical, Inc. (a) |
6,100 |
71,431 |
|
|
RTI Biologics, Inc. (a) |
70,184 |
268,103 |
|
|
Sirona Dental Systems, Inc. (a) |
11,762 |
625,033 |
|
|
SurModics, Inc. (a) |
9,319 |
173,706 |
|
|
Thoratec Corp. (a) |
16,557 |
561,117 |
|
|
Vascular Solutions, Inc. (a) |
5,200 |
68,172 |
|
|
Young Innovations, Inc. |
8,269 |
308,186 |
|
|
|
3,731,198 |
||
|
Health Care Providers & Services - 4.8% |
|||
|
Alliance Healthcare Services, Inc. (a) |
4,100 |
5,576 |
|
|
Almost Family, Inc. (a) |
443 |
9,781 |
|
|
Amedisys, Inc. (a) |
26,000 |
366,080 |
|
|
AMN Healthcare Services, Inc. (a) |
7,289 |
61,228 |
|
|
Assisted Living Concepts, Inc. Class A |
3,671 |
28,597 |
|
|
CardioNet, Inc. (a) |
1,928 |
4,377 |
|
|
Centene Corp. (a)(e) |
18,543 |
753,031 |
|
|
Chemed Corp. (e) |
3,115 |
205,683 |
|
|
Five Star Quality Care, Inc. (a) |
86,520 |
409,240 |
|
|
Gentiva Health Services, Inc. (a) |
15,157 |
166,424 |
|
|
Hanger, Inc. (a) |
5,108 |
146,140 |
|
|
Healthways, Inc. (a) |
6,259 |
65,594 |
|
|
Magellan Health Services, Inc. (a) |
14,074 |
698,211 |
|
|
Molina Healthcare, Inc. (a)(e) |
16,361 |
396,591 |
|
|
National Healthcare Corp. |
2,061 |
92,106 |
|
|
PharMerica Corp. (a) |
2,797 |
35,242 |
|
|
Providence Service Corp. (a) |
17,138 |
195,545 |
|
|
Select Medical Holdings Corp. (a) |
51,743 |
535,540 |
|
|
Skilled Healthcare Group, Inc. (a) |
1,539 |
8,803 |
|
|
Sun Healthcare Group, Inc. (a) |
2,576 |
21,767 |
|
|
Team Health Holdings, Inc. (a) |
22,552 |
643,860 |
|
|
Triple-S Management Corp. (a) |
2,574 |
52,613 |
|
|
Universal American Spin Corp. (a) |
28,032 |
253,690 |
|
|
Wellcare Health Plans, Inc. (a) |
14,047 |
796,324 |
|
|
|
5,952,043 |
||
|
|
|||
|
Shares |
Value |
||
|
Health Care Technology - 0.7% |
|||
|
Computer Programs & Systems, Inc. |
5,012 |
$ 253,357 |
|
|
Omnicell, Inc. (a) |
37,106 |
532,842 |
|
|
|
786,199 |
||
|
Life Sciences Tools & Services - 0.3% |
|||
|
Affymetrix, Inc. (a)(e) |
52,416 |
199,705 |
|
|
Cambrex Corp. (a) |
17,100 |
208,278 |
|
|
|
407,983 |
||
|
Pharmaceuticals - 1.0% |
|||
|
Cornerstone Therapeutics, Inc. (a) |
6,486 |
43,845 |
|
|
Impax Laboratories, Inc. (a) |
3,600 |
85,212 |
|
|
Jazz Pharmaceuticals PLC (a) |
500 |
22,755 |
|
|
Medicis Pharmaceutical Corp. Class A |
417 |
13,161 |
|
|
Obagi Medical Products, Inc. (a) |
7,736 |
103,353 |
|
|
Omeros Corp. (a) |
3,462 |
32,647 |
|
|
Pozen, Inc. (a)(e) |
29,381 |
191,270 |
|
|
Questcor Pharmaceuticals, Inc. (a)(e) |
955 |
41,485 |
|
|
Santarus, Inc. (a) |
1,431 |
8,844 |
|
|
SciClone Pharmaceuticals, Inc. (a)(e) |
38,256 |
187,454 |
|
|
Transcept Pharmaceuticals, Inc. (a) |
59 |
394 |
|
|
ViroPharma, Inc. (a) |
17,054 |
453,636 |
|
|
VIVUS, Inc. (a) |
2,400 |
51,480 |
|
|
|
1,235,536 |
||
|
TOTAL HEALTH CARE |
15,105,652 |
||
|
INDUSTRIALS - 13.5% |
|||
|
Aerospace & Defense - 3.2% |
|||
|
American Science & Engineering, Inc. |
4,976 |
295,923 |
|
|
Ceradyne, Inc. |
12,976 |
308,180 |
|
|
Cubic Corp. |
12,379 |
625,016 |
|
|
Curtiss-Wright Corp. |
21,037 |
632,372 |
|
|
Esterline Technologies Corp. (a) |
9,992 |
597,522 |
|
|
Hexcel Corp. (a)(e) |
8,931 |
202,466 |
|
|
LMI Aerospace, Inc. (a) |
3,684 |
71,727 |
|
|
Moog, Inc. Class A (a) |
8,503 |
311,465 |
|
|
Sypris Solutions, Inc. |
1,668 |
11,359 |
|
|
Taser International, Inc. (a) |
65,134 |
348,467 |
|
|
Teledyne Technologies, Inc. (a) |
8,653 |
558,205 |
|
|
|
3,962,702 |
||
|
Air Freight & Logistics - 0.1% |
|||
|
Park-Ohio Holdings Corp. (a) |
5,065 |
108,948 |
|
|
Airlines - 0.9% |
|||
|
Alaska Air Group, Inc. (a) |
23,420 |
785,741 |
|
|
Republic Airways Holdings, Inc. (a) |
24,334 |
108,286 |
|
|
SkyWest, Inc. |
27,433 |
240,587 |
|
|
|
1,134,614 |
||
|
Building Products - 0.1% |
|||
|
American Woodmark Corp. (a) |
1,791 |
34,674 |
|
|
Apogee Enterprises, Inc. |
3,642 |
57,544 |
|
|
Gibraltar Industries, Inc. (a) |
3,986 |
43,567 |
|
|
|
135,785 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INDUSTRIALS - continued |
|||
|
Commercial Services & Supplies - 2.5% |
|||
|
Consolidated Graphics, Inc. (a) |
4,924 |
$ 131,914 |
|
|
Courier Corp. |
1,000 |
11,220 |
|
|
Encore Capital Group, Inc. (a) |
11,803 |
330,838 |
|
|
G&K Services, Inc. Class A |
17,539 |
550,198 |
|
|
Intersections, Inc. |
24,700 |
270,959 |
|
|
Kimball International, Inc. Class B |
25,911 |
290,981 |
|
|
Steelcase, Inc. Class A |
24,848 |
241,026 |
|
|
Sykes Enterprises, Inc. (a) |
2,387 |
32,201 |
|
|
Tetra Tech, Inc. (a) |
6,557 |
170,089 |
|
|
The Brink's Co. |
19,946 |
443,998 |
|
|
Unifirst Corp. Massachusetts |
9,689 |
615,348 |
|
|
|
3,088,772 |
||
|
Construction & Engineering - 0.4% |
|||
|
Dycom Industries, Inc. (a) |
13,600 |
197,472 |
|
|
Great Lakes Dredge & Dock Corp. |
37,844 |
276,640 |
|
|
Sterling Construction Co., Inc. (a) |
3,897 |
37,762 |
|
|
|
511,874 |
||
|
Electrical Equipment - 0.7% |
|||
|
AZZ, Inc. |
4,000 |
127,040 |
|
|
Brady Corp. Class A |
267 |
7,497 |
|
|
EnerSys (a) |
15,490 |
577,003 |
|
|
Franklin Electric Co., Inc. |
2,422 |
131,345 |
|
|
|
842,885 |
||
|
Industrial Conglomerates - 0.1% |
|||
|
Raven Industries, Inc. |
811 |
24,630 |
|
|
Standex International Corp. |
2,950 |
131,688 |
|
|
|
156,318 |
||
|
Machinery - 1.5% |
|||
|
Alamo Group, Inc. |
1,069 |
31,097 |
|
|
Albany International Corp. Class A |
5,781 |
122,095 |
|
|
Ampco-Pittsburgh Corp. |
900 |
15,174 |
|
|
Cascade Corp. |
4,866 |
238,775 |
|
|
Hurco Companies, Inc. (a) |
2,133 |
44,132 |
|
|
Kadant, Inc. (a) |
18,077 |
410,890 |
|
|
L.B. Foster Co. Class A |
3,193 |
102,655 |
|
|
Lydall, Inc. (a) |
1,952 |
25,044 |
|
|
NACCO Industries, Inc. Class A |
2,917 |
310,369 |
|
|
RBC Bearings, Inc. (a) |
4,738 |
217,901 |
|
|
Sauer-Danfoss, Inc. |
2,700 |
102,951 |
|
|
Tennant Co. |
4,395 |
184,370 |
|
|
|
1,805,453 |
||
|
Professional Services - 0.5% |
|||
|
Barrett Business Services, Inc. |
1,163 |
29,470 |
|
|
CDI Corp. |
700 |
11,529 |
|
|
GP Strategies Corp. (a) |
1,204 |
24,140 |
|
|
Insperity, Inc. |
9,615 |
235,087 |
|
|
Kelly Services, Inc. Class A (non-vtg.) |
14,391 |
177,585 |
|
|
|
|||
|
Shares |
Value |
||
|
Resources Connection, Inc. |
3,700 |
$ 41,366 |
|
|
TrueBlue, Inc. (a) |
2,550 |
39,602 |
|
|
|
558,779 |
||
|
Road & Rail - 1.4% |
|||
|
AMERCO |
5,438 |
506,006 |
|
|
Arkansas Best Corp. |
22,840 |
209,671 |
|
|
Celadon Group, Inc. |
6,000 |
99,060 |
|
|
Marten Transport Ltd. |
3,900 |
68,796 |
|
|
Saia, Inc. (a) |
18,773 |
407,374 |
|
|
Swift Transporation Co. (a) |
56,600 |
461,290 |
|
|
|
1,752,197 |
||
|
Trading Companies & Distributors - 2.0% |
|||
|
Aceto Corp. |
7,211 |
64,466 |
|
|
Aircastle Ltd. |
51,748 |
590,962 |
|
|
Applied Industrial Technologies, Inc. |
18,307 |
744,729 |
|
|
DXP Enterprises, Inc. (a) |
6,762 |
311,796 |
|
|
H&E Equipment Services, Inc. |
33,401 |
591,198 |
|
|
Interline Brands, Inc. (a) |
1,765 |
44,937 |
|
|
SeaCube Container Leasing Ltd. |
4,300 |
82,130 |
|
|
|
2,430,218 |
||
|
Transportation Infrastructure - 0.1% |
|||
|
Wesco Aircraft Holdings, Inc. (a)(e) |
12,627 |
176,020 |
|
|
TOTAL INDUSTRIALS |
16,664,565 |
||
|
INFORMATION TECHNOLOGY - 14.8% |
|||
|
Communications Equipment - 1.2% |
|||
|
Anaren, Inc. (a) |
18,285 |
360,397 |
|
|
Arris Group, Inc. (a) |
15,100 |
205,813 |
|
|
Black Box Corp. |
5,618 |
146,012 |
|
|
Communications Systems, Inc. |
3,900 |
43,914 |
|
|
Comtech Telecommunications Corp. |
14,051 |
395,114 |
|
|
Emulex Corp. (a) |
8,100 |
55,485 |
|
|
Tessco Technologies, Inc. |
14,265 |
270,322 |
|
|
|
1,477,057 |
||
|
Computers & Peripherals - 0.6% |
|||
|
Avid Technology, Inc. (a) |
9,500 |
87,495 |
|
|
Cray, Inc. (a) |
17,353 |
197,998 |
|
|
Xyratex Ltd. |
44,916 |
496,771 |
|
|
|
782,264 |
||
|
Electronic Equipment & Components - 2.5% |
|||
|
Anixter International, Inc. |
9,759 |
586,809 |
|
|
Benchmark Electronics, Inc. (a) |
32,008 |
513,728 |
|
|
Coherent, Inc. (a) |
6,235 |
293,606 |
|
|
Electro Scientific Industries, Inc. |
24,532 |
300,762 |
|
|
Insight Enterprises, Inc. (a) |
3,867 |
69,451 |
|
|
MTS Systems Corp. |
3,246 |
164,929 |
|
|
Multi-Fineline Electronix, Inc. (a) |
641 |
15,705 |
|
|
Newport Corp. (a) |
19,688 |
244,722 |
|
|
OSI Systems, Inc. (a) |
2,771 |
205,331 |
|
|
PC Connection, Inc. |
1,800 |
21,942 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
INFORMATION TECHNOLOGY - continued |
|||
|
Electronic Equipment & Components - continued |
|||
|
SYNNEX Corp. (a) |
17,000 |
$ 587,010 |
|
|
Vishay Precision Group, Inc. (a) |
2,864 |
38,779 |
|
|
|
3,042,774 |
||
|
Internet Software & Services - 0.4% |
|||
|
Ancestry.com, Inc. (a) |
11,000 |
341,880 |
|
|
Blucora, Inc. (a) |
1,393 |
21,466 |
|
|
Move, Inc. (a) |
6,700 |
52,126 |
|
|
XO Group, Inc. (a) |
5,800 |
46,052 |
|
|
|
461,524 |
||
|
IT Services - 3.8% |
|||
|
Acxiom Corp. (a) |
29,132 |
496,992 |
|
|
CACI International, Inc. Class A (a)(e) |
12,484 |
666,521 |
|
|
Convergys Corp. |
8,711 |
135,108 |
|
|
CSG Systems International, Inc. (a) |
6,185 |
131,184 |
|
|
EPAM Systems, Inc. (e) |
5,700 |
99,750 |
|
|
Global Cash Access Holdings, Inc. (a) |
44,649 |
342,458 |
|
|
Hackett Group, Inc. (a) |
3,100 |
11,625 |
|
|
Heartland Payment Systems, Inc. |
22,701 |
689,656 |
|
|
Jack Henry & Associates, Inc. |
9,156 |
338,406 |
|
|
Maximus, Inc. |
15,283 |
831,242 |
|
|
NCI, Inc. Class A (a) |
2,805 |
20,505 |
|
|
Teletech Holdings, Inc. (a) |
26,326 |
434,642 |
|
|
TNS, Inc. (a) |
3,072 |
44,882 |
|
|
Unisys Corp. (a)(e) |
18,729 |
395,744 |
|
|
|
4,638,715 |
||
|
Semiconductors & Semiconductor Equipment - 1.9% |
|||
|
Advanced Energy Industries, Inc. (a) |
7,900 |
100,883 |
|
|
Entegris, Inc. (a) |
37,903 |
333,167 |
|
|
GT Advanced Technologies, Inc. (a)(e) |
32,887 |
190,745 |
|
|
Kulicke & Soffa Industries, Inc. (a) |
54,566 |
618,233 |
|
|
LTX-Credence Corp. (a) |
42,451 |
241,546 |
|
|
Micrel, Inc. |
8,300 |
82,502 |
|
|
Monolithic Power Systems, Inc. (a) |
1,488 |
32,081 |
|
|
Omnivision Technologies, Inc. (a)(e) |
17,100 |
277,875 |
|
|
Power Integrations, Inc. |
3,900 |
135,096 |
|
|
Tessera Technologies, Inc. |
25,200 |
384,804 |
|
|
Ultra Clean Holdings, Inc. (a) |
59 |
347 |
|
|
|
2,397,279 |
||
|
Software - 4.4% |
|||
|
Actuate Corp. (a) |
27,615 |
193,029 |
|
|
Aspen Technology, Inc. (a) |
15,993 |
389,909 |
|
|
CommVault Systems, Inc. (a) |
3,273 |
165,025 |
|
|
Deltek, Inc. (a) |
300 |
3,882 |
|
|
Fair Isaac Corp. |
18,110 |
773,478 |
|
|
JDA Software Group, Inc. (a) |
12,427 |
382,752 |
|
|
Manhattan Associates, Inc. (a) |
15,264 |
772,053 |
|
|
Monotype Imaging Holdings, Inc. |
40,424 |
609,998 |
|
|
NetScout Systems, Inc. (a) |
17,732 |
421,135 |
|
|
Progress Software Corp. (a) |
27,332 |
525,594 |
|
|
|
|||
|
Shares |
Value |
||
|
QAD, Inc.: |
|
|
|
|
Class A |
4,628 |
$ 56,693 |
|
|
Class B |
3,690 |
43,284 |
|
|
Quest Software, Inc. (a) |
5,656 |
158,085 |
|
|
SeaChange International, Inc. (a) |
1,800 |
14,688 |
|
|
SS&C Technologies Holdings, Inc. (a) |
10,671 |
236,683 |
|
|
TeleCommunication Systems, Inc. Class A (a) |
37,777 |
66,488 |
|
|
TeleNav, Inc. (a) |
26,595 |
160,634 |
|
|
TIBCO Software, Inc. (a) |
15,509 |
464,029 |
|
|
Verint Systems, Inc. (a) |
1,697 |
48,585 |
|
|
|
5,486,024 |
||
|
TOTAL INFORMATION TECHNOLOGY |
18,285,637 |
||
|
MATERIALS - 6.5% |
|||
|
Chemicals - 2.3% |
|||
|
FutureFuel Corp. |
1,641 |
16,935 |
|
|
Georgia Gulf Corp. |
3,279 |
129,980 |
|
|
H.B. Fuller Co. |
16,304 |
495,805 |
|
|
Innospec, Inc. (a) |
9,300 |
292,578 |
|
|
LSB Industries, Inc. (a) |
14,593 |
550,156 |
|
|
Minerals Technologies, Inc. |
2,500 |
169,525 |
|
|
Rockwood Holdings, Inc. |
10,992 |
520,361 |
|
|
Sensient Technologies Corp. |
3,614 |
129,562 |
|
|
TPC Group, Inc. (a) |
12,284 |
504,013 |
|
|
Tredegar Corp. |
1,263 |
20,435 |
|
|
|
2,829,350 |
||
|
Construction Materials - 1.0% |
|||
|
Eagle Materials, Inc. |
19,600 |
835,940 |
|
|
Headwaters, Inc. (a)(e) |
70,564 |
469,251 |
|
|
|
1,305,191 |
||
|
Containers & Packaging - 0.8% |
|||
|
AEP Industries, Inc. (a) |
2,400 |
120,840 |
|
|
Boise, Inc. |
48,255 |
363,360 |
|
|
Myers Industries, Inc. |
33,652 |
498,050 |
|
|
|
982,250 |
||
|
Metals & Mining - 1.1% |
|||
|
Coeur d'Alene Mines Corp. (a)(e) |
35,500 |
816,145 |
|
|
Golden Star Resources Ltd. (a) |
6,160 |
9,061 |
|
|
Hecla Mining Co. (e) |
87,044 |
470,908 |
|
|
Worthington Industries, Inc. |
4,062 |
84,896 |
|
|
|
1,381,010 |
||
|
Paper & Forest Products - 1.3% |
|||
|
Buckeye Technologies, Inc. |
19,598 |
594,211 |
|
|
Domtar Corp. |
6,353 |
460,211 |
|
|
Glatfelter |
14,167 |
238,006 |
|
|
Kapstone Paper & Packaging Corp. (a) |
118 |
2,364 |
|
|
Neenah Paper, Inc. |
9,300 |
259,563 |
|
|
|
1,554,355 |
||
|
TOTAL MATERIALS |
8,052,156 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
TELECOMMUNICATION SERVICES - 0.5% |
|||
|
Diversified Telecommunication Services - 0.3% |
|||
|
HickoryTech Corp. |
1,858 |
$ 19,453 |
|
|
Neutral Tandem, Inc. (a) |
1,400 |
15,400 |
|
|
Premiere Global Services, Inc. (a) |
5,500 |
50,930 |
|
|
Vonage Holdings Corp. (a) |
146,554 |
313,626 |
|
|
|
399,409 |
||
|
Wireless Telecommunication Services - 0.2% |
|||
|
NTELOS Holdings Corp. |
10,761 |
184,766 |
|
|
TOTAL TELECOMMUNICATION SERVICES |
584,175 |
||
|
UTILITIES - 4.8% |
|||
|
Electric Utilities - 3.5% |
|||
|
Cleco Corp. |
20,148 |
824,658 |
|
|
El Paso Electric Co. |
21,198 |
701,442 |
|
|
Empire District Electric Co. |
2,901 |
61,240 |
|
|
IDACORP, Inc. |
12,137 |
503,079 |
|
|
PNM Resources, Inc. |
33,600 |
691,152 |
|
|
Portland General Electric Co. |
28,730 |
771,113 |
|
|
Unitil Corp. |
2,000 |
52,800 |
|
|
UNS Energy Corp. |
16,900 |
677,014 |
|
|
|
4,282,498 |
||
|
Gas Utilities - 0.2% |
|||
|
Laclede Group, Inc. |
3,764 |
159,029 |
|
|
Southwest Gas Corp. |
2,889 |
123,505 |
|
|
|
282,534 |
||
|
Multi-Utilities - 0.6% |
|||
|
Avista Corp. |
4,723 |
119,964 |
|
|
NorthWestern Energy Corp. |
16,798 |
614,807 |
|
|
|
734,771 |
||
|
Water Utilities - 0.5% |
|||
|
American States Water Co. (e) |
13,087 |
570,331 |
|
|
California Water Service Group |
872 |
15,949 |
|
|
Consolidated Water Co., Inc. |
1,139 |
9,294 |
|
|
|
595,574 |
||
|
TOTAL UTILITIES |
5,895,377 |
||
|
TOTAL COMMON STOCKS (Cost $107,542,372) |
|
||
|
U.S. Treasury Obligations - 0.4% |
||||
|
|
Principal Amount |
|
||
|
U.S. Treasury Bills, yield at date of purchase 0.13% to 0.15% 12/20/12 to 12/27/12 (f) |
|
$ 450,000 |
|
|
|
Money Market Funds - 10.4% |
|||
|
Shares |
Value |
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
5,454,087 |
$ 5,454,087 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
7,381,823 |
7,381,823 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $12,835,910) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 106.0% (Cost $120,828,087) |
130,839,777 |
||
|
NET OTHER ASSETS (LIABILITIES) - (6.0)% |
(7,437,952) |
||
|
NET ASSETS - 100% |
$ 123,401,825 |
||
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
71 NYFE Russell 2000 Mini Index Contracts |
Sept. 2012 |
$ 5,758,810 |
$ 280,187 |
||
|
|
|
The face value of futures purchased as a percentage of net assets is 4.7% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $449,860. |
|
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 Securities Lending Cash Central Fund |
$ 14,236 |
|
Other Information |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 17,677,338 |
$ 17,677,338 |
$ - |
$ - |
|
Consumer Staples |
3,382,171 |
3,382,171 |
- |
- |
|
Energy |
5,193,405 |
5,193,405 |
- |
- |
|
Financials |
26,713,531 |
26,713,531 |
- |
- |
|
Health Care |
15,105,652 |
15,105,652 |
- |
- |
|
Industrials |
16,664,565 |
16,664,565 |
- |
- |
|
Information Technology |
18,285,637 |
18,285,637 |
- |
- |
|
Materials |
8,052,156 |
8,052,156 |
- |
- |
|
Telecommunication Services |
584,175 |
584,175 |
- |
- |
|
Utilities |
5,895,377 |
5,895,377 |
- |
- |
|
U.S. Government and Government Agency Obligations |
449,860 |
- |
449,860 |
- |
|
Money Market Funds |
12,835,910 |
12,835,910 |
- |
- |
|
Total Investments in Securities: |
$ 130,839,777 |
$ 130,389,917 |
$ 449,860 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 280,187 |
$ 280,187 |
$ - |
$ - |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 280,187 |
$ - |
|
Total Value of Derivatives |
$ 280,187 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Small Cap Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $7,247,218) - See accompanying schedule: Unaffiliated issuers (cost $113,446,264) |
$ 123,457,954 |
|
|
Fidelity Central Funds (cost $7,381,823) |
7,381,823 |
|
|
Total Investments (cost $120,828,087) |
|
$ 130,839,777 |
|
Segregated cash with broker for futures contracts |
|
12,000 |
|
Receivable for fund shares sold |
|
57,050 |
|
Dividends receivable |
|
95,587 |
|
Interest receivable |
|
265 |
|
Distributions receivable from Fidelity Central Funds |
|
3,201 |
|
Receivable for daily variation margin on futures contracts |
|
39,266 |
|
Total assets |
|
131,047,146 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for fund shares redeemed |
$ 195,214 |
|
|
Accrued management fee |
52,997 |
|
|
Other affiliated payables |
15,287 |
|
|
Collateral on securities loaned, at value |
7,381,823 |
|
|
Total liabilities |
|
7,645,321 |
|
|
|
|
|
Net Assets |
|
$ 123,401,825 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 108,581,099 |
|
Undistributed net investment income |
|
902,984 |
|
Accumulated undistributed net realized gain (loss) on investments |
|
3,625,865 |
|
Net unrealized appreciation (depreciation) on investments |
|
10,291,877 |
|
Net Assets, for 12,591,465 shares outstanding |
|
$ 123,401,825 |
|
Net Asset Value, offering price and redemption price per share ($123,401,825 ÷ 12,591,465 shares) |
|
$ 9.80 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 1,297,308 |
|
Interest |
|
1,504 |
|
Income from Fidelity Central Funds |
|
14,236 |
|
Total income |
|
1,313,048 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 314,160 |
|
|
Transfer agent fees |
90,847 |
|
|
Independent trustees' compensation |
774 |
|
|
Miscellaneous |
177 |
|
|
Total expenses |
|
405,958 |
|
Net investment income (loss) |
|
907,090 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
4,601,564 |
|
|
Futures contracts |
(39,374) |
|
|
Total net realized gain (loss) |
|
4,562,190 |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
(4,473,876) |
|
|
Futures contracts |
228,421 |
|
|
Total change in net unrealized appreciation (depreciation) |
|
(4,245,455) |
|
Net gain (loss) |
|
316,735 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ 1,223,825 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity Small Cap Enhanced Index Fund
Financial Statements - continued
Statement of Changes in Net Assets
|
|
Six months ended |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 907,090 |
$ 794,412 |
|
Net realized gain (loss) |
4,562,190 |
11,860,259 |
|
Change in net unrealized appreciation (depreciation) |
(4,245,455) |
(10,947,206) |
|
Net increase (decrease) in net assets resulting from operations |
1,223,825 |
1,707,465 |
|
Distributions to shareholders from net investment income |
(63,244) |
(628,524) |
|
Distributions to shareholders from net realized gain |
(1,404,017) |
(12,048,896) |
|
Total distributions |
(1,467,261) |
(12,677,420) |
|
Share transactions |
17,308,180 |
56,252,048 |
|
Reinvestment of distributions |
1,414,184 |
12,118,854 |
|
Cost of shares redeemed |
(16,966,520) |
(49,441,411) |
|
Net increase (decrease) in net assets resulting from share transactions |
1,755,844 |
18,929,491 |
|
Redemption fees |
15,863 |
84,849 |
|
Total increase (decrease) in net assets |
1,528,271 |
8,044,385 |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
121,873,554 |
113,829,169 |
|
End of period (including undistributed net investment income of $902,984 and undistributed net investment income of $59,138, respectively) |
$ 123,401,825 |
$ 121,873,554 |
|
Other Information Shares |
|
|
|
Sold |
1,790,582 |
5,595,208 |
|
Issued in reinvestment of distributions |
147,005 |
1,301,330 |
|
Redeemed |
(1,774,319) |
(5,089,964) |
|
Net increase (decrease) |
163,268 |
1,806,574 |
Financial Highlights
|
|
Six months ended |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 I |
2011 |
2010 |
2009 |
2008 G |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 9.81 |
$ 10.72 |
$ 8.05 |
$ 5.20 |
$ 9.03 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.07 |
.07 |
.06 |
.05 |
.09 |
.02 |
|
Net realized and unrealized gain (loss) |
.04 |
.14 |
2.67 |
2.86 |
(3.87) |
(.99) |
|
Total from investment operations |
.11 |
.21 |
2.73 |
2.91 |
(3.78) |
(.97) |
|
Distributions from net investment income |
(.01) |
(.06) |
(.06) |
(.06) |
(.06) |
- |
|
Distributions from net realized gain |
(.11) |
(1.08) |
- |
- |
- |
- |
|
Total distributions |
(.12) |
(1.13) K |
(.06) |
(.06) |
(.06) |
- |
|
Redemption fees added to paid in capital D |
- J |
.01 |
- J |
- J |
.01 |
- J |
|
Net asset value, end of period |
$ 9.80 |
$ 9.81 |
$ 10.72 |
$ 8.05 |
$ 5.20 |
$ 9.03 |
|
Total Return B,C |
1.10% |
2.87% |
34.01% |
55.93% |
(41.94)% |
(9.70)% |
|
Ratios to Average Net Assets E,H |
|
|
|
|
|
|
|
Expenses before reductions |
.67% A |
.67% |
.67% |
.67% |
.67% |
.67% A |
|
Expenses net of fee waivers, if any |
.67% A |
.67% |
.67% |
.67% |
.67% |
.67% A |
|
Expenses net of all reductions |
.67% A |
.67% |
.67% |
.67% |
.67% |
.67% A |
|
Net investment income (loss) |
1.50% A |
.69% |
.63% |
.77% |
1.29% |
1.19% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 123,402 |
$ 121,874 |
$ 113,829 |
$ 85,243 |
$ 57,443 |
$ 6,343 |
|
Portfolio turnover rate F |
87% A |
79% |
90% |
98% L |
36% L |
16% |
|
AAnnualized BTotal returns for periods of less than one year are not annualized. CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown. DCalculated based on average shares outstanding during the period. EFees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds. FAmount does not include the portfolio activity of any underlying funds and Fidelity Central Funds. GFor the period December 20, 2007 (commencement of operations) to February 29, 2008. HExpense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund. IFor the year ended February 29. JAmount represents less than $.01 per share. KTotal distributions of $1.13 per share is comprised of distributions from net investment income of $.056 and distributions from net realized gain of $1.075 per share. LReflects adjustments to exclude transactions in money market mutual funds. |
||||||
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity International Enhanced Index Fund
Investment Changes (Unaudited)
|
Geographic Diversification (% of fund's net assets) |
|||
|
As of August 31, 2012 |
|||
 |
United Kingdom |
21.0% |
|
 |
Japan |
20.6% |
|
 |
Australia |
7.7% |
|
 |
Germany |
7.5% |
|
 |
Switzerland |
7.4% |
|
 |
France |
7.4% |
|
 |
United States of America |
4.1% |
|
 |
Netherlands |
3.5% |
|
 |
Hong Kong |
3.1% |
|
 |
Other |
17.7% |
|
|
Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable. |
|
As of February 29, 2012 |
|||
|
Japan |
21.1% |
|
|
United Kingdom |
19.4% |
|
|
France |
7.9% |
|
|
Australia |
7.6% |
|
|
Germany |
7.2% |
|
|
Switzerland |
7.2% |
|
|
United States of America |
4.4% |
|
|
Spain |
2.9% |
|
|
Singapore |
2.7% |
|
|
Other |
19.6% |
|
|
Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable. |
|
Asset Allocation |
||
|
|
% of fund's |
% of fund's net assets |
|
Stocks and Equity Futures |
98.6 |
98.9 |
|
Short-Term Investments and Net Other Assets (Liabilities) |
1.4 |
1.1 |
|
Top Ten Stocks as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Nestle SA (Switzerland, Food Products) |
2.3 |
2.1 |
|
HSBC Holdings PLC (United Kingdom) (United Kingdom, Commercial Banks) |
1.7 |
1.3 |
|
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) |
1.6 |
1.6 |
|
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) |
1.6 |
1.4 |
|
Novartis AG (Switzerland, Pharmaceuticals) |
1.5 |
0.9 |
|
Royal Dutch Shell PLC Class B (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) |
1.5 |
1.5 |
|
GlaxoSmithKline PLC sponsored ADR (United Kingdom, Pharmaceuticals) |
1.4 |
1.4 |
|
Total SA (France, Oil, Gas & Consumable Fuels) |
1.4 |
1.4 |
|
British American Tobacco PLC (United Kingdom) (United Kingdom, Tobacco) |
1.3 |
1.2 |
|
Commonwealth Bank of Australia (Australia, Commercial Banks) |
1.2 |
1.1 |
|
|
15.5 |
|
|
Market Sectors as of August 31, 2012 |
||
|
|
% of fund's |
% of fund's net assets |
|
Financials |
22.9 |
22.2 |
|
Consumer Staples |
13.0 |
10.3 |
|
Industrials |
11.2 |
11.6 |
|
Consumer Discretionary |
10.1 |
11.3 |
|
Health Care |
10.1 |
9.2 |
|
Energy |
8.7 |
9.0 |
|
Materials |
7.8 |
9.4 |
|
Telecommunication Services |
5.1 |
5.0 |
|
Information Technology |
3.5 |
3.9 |
|
Utilities |
3.5 |
3.7 |
Semiannual Report
Fidelity International Enhanced Index Fund
Investments August 31, 2012 (Unaudited)
Showing Percentage of Net Assets
|
Common Stocks - 95.1% |
|||
|
Shares |
Value |
||
|
Australia - 7.7% |
|||
|
AGL Energy Ltd. |
49 |
$ 769 |
|
|
Australia & New Zealand Banking Group Ltd. |
6,940 |
177,961 |
|
|
BHP Billiton Ltd. |
6,096 |
201,854 |
|
|
Coca-Cola Amatil Ltd. |
198 |
2,800 |
|
|
Commonwealth Bank of Australia |
5,162 |
291,935 |
|
|
Crown Ltd. |
83 |
770 |
|
|
CSL Ltd. |
996 |
45,719 |
|
|
DEXUS Property Group unit |
47,022 |
46,395 |
|
|
DuluxGroup Ltd. |
28 |
95 |
|
|
Fortescue Metals Group Ltd. |
6,436 |
23,539 |
|
|
Macquarie Group Ltd. |
2,244 |
62,272 |
|
|
National Australia Bank Ltd. |
8,544 |
222,535 |
|
|
OneSteel Ltd. |
16,364 |
10,905 |
|
|
Orica Ltd. |
28 |
700 |
|
|
OZ Minerals Ltd. |
10,653 |
68,678 |
|
|
QBE Insurance Group Ltd. |
2,245 |
30,222 |
|
|
Rio Tinto Ltd. |
280 |
14,244 |
|
|
Stockland Corp. Ltd. unit |
28,000 |
91,992 |
|
|
Suncorp-Metway Ltd. |
12,092 |
114,809 |
|
|
Tabcorp Holdings Ltd. |
28,512 |
86,015 |
|
|
Telstra Corp. Ltd. |
30,511 |
121,361 |
|
|
Westfield Group unit |
13,134 |
134,473 |
|
|
Westfield Retail Trust unit |
7,479 |
22,331 |
|
|
Westpac Banking Corp. |
4,051 |
103,670 |
|
|
TOTAL AUSTRALIA |
1,876,044 |
||
|
Austria - 1.1% |
|||
|
IMMOFINANZ Immobilien Anlagen AG |
12,758 |
40,984 |
|
|
OMV AG |
2,883 |
95,642 |
|
|
Raiffeisen International Bank-Holding AG |
5 |
167 |
|
|
Vienna Insurance Group AG Wien |
1,011 |
42,333 |
|
|
Voestalpine AG |
2,992 |
85,672 |
|
|
TOTAL AUSTRIA |
264,798 |
||
|
Bailiwick of Jersey - 0.4% |
|||
|
Petrofac Ltd. |
4,165 |
99,333 |
|
|
Belgium - 1.5% |
|||
|
Ageas |
2,172 |
48,355 |
|
|
Anheuser-Busch InBev SA NV |
2,914 |
245,162 |
|
|
Delhaize Group SA |
1,978 |
78,345 |
|
|
KBC Groupe SA |
100 |
2,174 |
|
|
TOTAL BELGIUM |
374,036 |
||
|
Bermuda - 0.6% |
|||
|
Noble Group Ltd. |
90,000 |
86,643 |
|
|
Orient Overseas International Ltd. |
12,000 |
64,054 |
|
|
Yue Yuen Industrial (Holdings) Ltd. |
2,000 |
5,776 |
|
|
TOTAL BERMUDA |
156,473 |
||
|
Cayman Islands - 0.3% |
|||
|
Wynn Macau Ltd. |
32,800 |
75,276 |
|
|
|
|||
|
Shares |
Value |
||
|
Denmark - 1.0% |
|||
|
Coloplast A/S Series B |
71 |
$ 14,178 |
|
|
Novo Nordisk A/S Series B |
1,454 |
228,435 |
|
|
TOTAL DENMARK |
242,613 |
||
|
Finland - 1.6% |
|||
|
Metso Corp. |
2,482 |
88,786 |
|
|
Nokia Corp. |
27,103 |
76,448 |
|
|
Orion Oyj (B Shares) |
3,330 |
68,356 |
|
|
Pohjola Bank PLC (A Shares) |
3,604 |
40,639 |
|
|
Sampo OYJ (A Shares) |
2,202 |
63,176 |
|
|
Stora Enso Oyj (R Shares) |
8,332 |
50,304 |
|
|
Wartsila Corp. |
26 |
837 |
|
|
TOTAL FINLAND |
388,546 |
||
|
France - 7.4% |
|||
|
Air Liquide SA |
12 |
1,412 |
|
|
AXA SA |
6,657 |
96,375 |
|
|
BIC SA |
820 |
88,257 |
|
|
BNP Paribas SA |
2,454 |
106,659 |
|
|
Bouygues SA |
3,258 |
81,036 |
|
|
Compagnie de St. Gobain |
559 |
19,177 |
|
|
Compagnie Generale de Geophysique SA (a) |
1,125 |
32,521 |
|
|
Credit Agricole SA (a) |
77 |
449 |
|
|
Danone SA |
221 |
13,774 |
|
|
Fonciere Des Regions |
594 |
41,765 |
|
|
France Telecom SA |
10,186 |
140,658 |
|
|
GDF Suez |
6,300 |
155,115 |
|
|
Gecina SA |
10 |
958 |
|
|
Hermes International SCA |
3 |
864 |
|
|
Imerys |
1,742 |
86,088 |
|
|
LVMH Moet Hennessy - Louis Vuitton SA |
88 |
14,367 |
|
|
M6 Metropole Television SA |
2,232 |
33,829 |
|
|
Michelin CGDE Series B |
729 |
52,311 |
|
|
Renault SA |
2,246 |
104,992 |
|
|
Sanofi SA |
1,843 |
150,757 |
|
|
Schneider Electric SA |
498 |
31,451 |
|
|
Societe Generale Series A (a) |
424 |
11,226 |
|
|
Total SA |
6,658 |
331,946 |
|
|
Unibail-Rodamco |
32 |
6,526 |
|
|
VINCI SA |
1,400 |
60,910 |
|
|
Vivendi SA |
7,267 |
142,499 |
|
|
TOTAL FRANCE |
1,805,922 |
||
|
Germany - 6.7% |
|||
|
Allianz AG |
820 |
90,010 |
|
|
BASF AG |
3,245 |
252,281 |
|
|
Bayer AG |
2,421 |
187,793 |
|
|
Bayerische Motoren Werke AG (BMW) |
991 |
71,872 |
|
|
Continental AG |
1,001 |
99,541 |
|
|
Daimler AG (Germany) |
504 |
24,723 |
|
|
Deutsche Bank AG |
1,058 |
37,505 |
|
|
Deutsche Post AG |
6,243 |
121,281 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
Germany - continued |
|||
|
Deutsche Telekom AG |
3,106 |
$ 37,055 |
|
|
E.ON AG |
3,722 |
85,602 |
|
|
Hannover Rueckversicherungs AG |
664 |
40,565 |
|
|
Hugo Boss AG |
475 |
43,919 |
|
|
Kabel Deutschland Holding AG |
10 |
663 |
|
|
Linde AG |
10 |
1,575 |
|
|
Metro AG |
1,512 |
45,548 |
|
|
Munich Re Group AG |
656 |
97,116 |
|
|
SAP AG |
877 |
57,620 |
|
|
Siemens AG |
2,526 |
238,431 |
|
|
Suedzucker AG (Bearer) |
2,635 |
88,359 |
|
|
TUI AG (a) |
118 |
923 |
|
|
TOTAL GERMANY |
1,622,382 |
||
|
Greece - 0.0% |
|||
|
Public Power Corp. of Greece (a) |
500 |
1,660 |
|
|
Hong Kong - 3.1% |
|||
|
Cathay Pacific Airways Ltd. |
1,000 |
1,630 |
|
|
Cheung Kong Holdings Ltd. |
9,000 |
122,422 |
|
|
Henderson Land Development Co. Ltd. |
24 |
148 |
|
|
Hopewell Holdings Ltd. |
28,000 |
89,712 |
|
|
Hutchison Whampoa Ltd. |
8,000 |
69,985 |
|
|
Hysan Development Co. Ltd. |
10,000 |
44,869 |
|
|
Link (REIT) |
7,659 |
34,167 |
|
|
Sino Land Ltd. |
54,000 |
88,422 |
|
|
SJM Holdings Ltd. |
44,000 |
92,698 |
|
|
Sun Hung Kai Properties Ltd. |
9,583 |
124,298 |
|
|
Wheelock and Co. Ltd. |
24,000 |
91,439 |
|
|
TOTAL HONG KONG |
759,790 |
||
|
Ireland - 0.5% |
|||
|
CRH PLC |
6,339 |
111,646 |
|
|
Elan Corp. PLC (a) |
622 |
7,076 |
|
|
Kerry Group PLC Class A |
3 |
144 |
|
|
TOTAL IRELAND |
118,866 |
||
|
Israel - 0.0% |
|||
|
Bank Hapoalim BM (Reg.) (a) |
140 |
431 |
|
|
Italy - 2.0% |
|||
|
Assicurazioni Generali SpA |
94 |
1,341 |
|
|
Enel SpA |
42,412 |
139,766 |
|
|
ENI SpA |
7,358 |
162,352 |
|
|
EXOR SpA |
1,728 |
41,274 |
|
|
Fiat SpA |
15,937 |
86,837 |
|
|
Mediaset SpA |
3,990 |
8,000 |
|
|
Mediobanca SpA |
1,458 |
6,826 |
|
|
Pirelli & C SpA |
102 |
1,123 |
|
|
Prysmian SpA |
653 |
10,932 |
|
|
Telecom Italia SpA |
19,506 |
18,123 |
|
|
UniCredit SpA (a) |
248 |
982 |
|
|
TOTAL ITALY |
477,556 |
||
|
|
|||
|
Shares |
Value |
||
|
Japan - 20.6% |
|||
|
Aeon Co. Ltd. |
100 |
$ 1,152 |
|
|
Aisin Seiki Co. Ltd. |
3,000 |
95,909 |
|
|
Ajinomoto Co., Inc. |
7,000 |
106,796 |
|
|
Aozora Bank Ltd. |
29,000 |
86,929 |
|
|
Asahi Glass Co. Ltd. |
2,000 |
12,171 |
|
|
Asahi Kasei Corp. |
17,000 |
88,852 |
|
|
Bank of Yokohama Ltd. |
5,000 |
23,245 |
|
|
Canon, Inc. |
5,100 |
169,995 |
|
|
Central Japan Railway Co. |
13 |
113,326 |
|
|
Coca-Cola West Co. Ltd. |
4,800 |
79,816 |
|
|
Daicel Chemical Industries Ltd. |
14,000 |
86,261 |
|
|
Daihatsu Motor Co. Ltd. |
5,000 |
82,048 |
|
|
Daiichi Sankyo Kabushiki Kaisha |
3,600 |
59,614 |
|
|
Denso Corp. |
3,700 |
124,004 |
|
|
Eisai Co. Ltd. |
2,400 |
109,812 |
|
|
Fujifilm Holdings Corp. |
2,000 |
33,363 |
|
|
Hitachi Ltd. |
24,000 |
138,288 |
|
|
Honda Motor Co. Ltd. |
1,600 |
50,977 |
|
|
Hoya Corp. |
4,000 |
90,617 |
|
|
Idemitsu Kosan Co. Ltd. |
1,100 |
88,687 |
|
|
INPEX Corp. |
4 |
22,882 |
|
|
Itochu Corp. |
11,300 |
115,255 |
|
|
Japan Tobacco, Inc. |
2,200 |
66,707 |
|
|
Jupiter Telecommunications Co. |
14 |
14,387 |
|
|
Kao Corp. |
4,000 |
121,078 |
|
|
KDDI Corp. |
17 |
121,953 |
|
|
Koito Manufacturing Co. Ltd. |
2,000 |
25,029 |
|
|
Konica Minolta Holdings, Inc. |
8,000 |
59,603 |
|
|
Kuraray Co. Ltd. |
7,100 |
82,241 |
|
|
Kurita Water Industries Ltd. |
3,900 |
83,877 |
|
|
Marubeni Corp. |
1,000 |
6,457 |
|
|
Mitsubishi Corp. |
700 |
12,961 |
|
|
Mitsubishi Electric Corp. |
1,000 |
8,158 |
|
|
Mitsubishi UFJ Financial Group, Inc. |
48,700 |
222,617 |
|
|
Mizuho Financial Group, Inc. |
105,200 |
169,863 |
|
|
Namco Bandai Holdings, Inc. |
5,700 |
90,381 |
|
|
Nippon Express Co. Ltd. |
22,000 |
86,560 |
|
|
Nippon Telegraph & Telephone Corp. |
2,700 |
125,195 |
|
|
Nissan Motor Co. Ltd. |
7,300 |
68,460 |
|
|
Nitto Denko Corp. |
2,200 |
102,085 |
|
|
NTT DoCoMo, Inc. |
18 |
30,665 |
|
|
ORIX Corp. |
1,140 |
106,078 |
|
|
Osaka Gas Co. Ltd. |
23,000 |
100,714 |
|
|
Otsuka Holdings Co. Ltd. |
1,100 |
33,617 |
|
|
Resona Holdings, Inc. |
24,800 |
97,073 |
|
|
Sega Sammy Holdings, Inc. |
4,200 |
87,414 |
|
|
Sekisui Chemical Co. Ltd. |
10,000 |
82,166 |
|
|
Seven & i Holdings Co., Ltd. |
4,300 |
130,842 |
|
|
Seven Bank Ltd. |
31,900 |
88,188 |
|
|
Shimamura Co. Ltd. |
700 |
83,257 |
|
|
Shinsei Bank Ltd. |
1,000 |
1,168 |
|
|
Shionogi & Co. Ltd. |
6,600 |
95,399 |
|
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
Japan - continued |
|||
|
Showa Denko KK |
35,000 |
$ 59,287 |
|
|
Softbank Corp. |
200 |
8,179 |
|
|
Sumitomo Corp. |
8,700 |
115,804 |
|
|
Sumitomo Mitsui Financial Group, Inc. |
5,800 |
180,646 |
|
|
Sumitomo Mitsui Trust Holdings, Inc. |
36,000 |
100,941 |
|
|
Suzuki Motor Corp. |
5,200 |
95,198 |
|
|
Takeda Pharmaceutical Co. Ltd. |
100 |
4,701 |
|
|
Toyota Motor Corp. |
4,500 |
178,943 |
|
|
Yamato Holdings Co. Ltd. |
6,100 |
101,638 |
|
|
TOTAL JAPAN |
5,029,529 |
||
|
Netherlands - 3.5% |
|||
|
ASML Holding NV (Netherlands) |
2,405 |
136,475 |
|
|
Corio NV |
1,001 |
42,619 |
|
|
European Aeronautic Defence and Space Co. EADS NV |
3,220 |
122,800 |
|
|
Heineken Holding NV (A Shares) |
2,063 |
95,464 |
|
|
Heineken NV (Bearer) |
2,058 |
114,090 |
|
|
ING Groep NV (Certificaten Van Aandelen) (a) |
4,143 |
31,587 |
|
|
Koninklijke Ahold NV |
8,934 |
110,462 |
|
|
Koninklijke KPN NV |
100 |
858 |
|
|
Koninklijke Philips Electronics NV |
254 |
5,830 |
|
|
Royal DSM NV |
2,122 |
99,516 |
|
|
STMicroelectronics NV |
6,003 |
35,635 |
|
|
Unilever NV (Certificaten Van Aandelen) (Bearer) |
1,536 |
53,568 |
|
|
TOTAL NETHERLANDS |
848,904 |
||
|
New Zealand - 0.4% |
|||
|
Telecom Corp. of New Zealand Ltd. |
42,784 |
84,557 |
|
|
Norway - 1.5% |
|||
|
DnB NOR ASA |
5,322 |
61,160 |
|
|
Gjensidige Forsikring ASA |
3,265 |
41,916 |
|
|
Orkla ASA (A Shares) |
13,470 |
99,526 |
|
|
StatoilHydro ASA |
5,907 |
151,039 |
|
|
Telenor ASA |
104 |
1,900 |
|
|
Yara International ASA |
220 |
10,766 |
|
|
TOTAL NORWAY |
366,307 |
||
|
Portugal - 0.0% |
|||
|
Energias de Portugal SA |
586 |
1,428 |
|
|
Portugal Telecom SGPS SA (Reg.) |
18 |
88 |
|
|
TOTAL PORTUGAL |
1,516 |
||
|
Singapore - 2.2% |
|||
|
ComfortDelgro Corp. Ltd. |
65,000 |
87,345 |
|
|
DBS Group Holdings Ltd. |
5,106 |
59,191 |
|
|
Fraser & Neave Ltd. |
8,000 |
52,692 |
|
|
Keppel Land Ltd. |
31,000 |
84,308 |
|
|
Oversea-Chinese Banking Corp. Ltd. |
506 |
3,771 |
|
|
SembCorp Industries Ltd. |
14,000 |
63,458 |
|
|
SembCorp Marine Ltd. |
22,000 |
88,247 |
|
|
|
|||
|
Shares |
Value |
||
|
UOL Group Ltd. |
20,000 |
$ 84,557 |
|
|
Yangzijiang Shipbuilding Holdings Ltd. |
1,000 |
790 |
|
|
TOTAL SINGAPORE |
524,359 |
||
|
Spain - 2.4% |
|||
|
Amadeus IT Holding SA Class A |
599 |
13,381 |
|
|
Banco Bilbao Vizcaya Argentaria SA |
5,915 |
44,994 |
|
|
Banco Santander SA (Spain) |
16,590 |
118,052 |
|
|
Distribuidora Internacional de Alimentacion SA |
17,426 |
92,518 |
|
|
Gas Natural SDG SA |
7,040 |
86,831 |
|
|
Iberdrola SA |
29,233 |
115,970 |
|
|
MAPFRE SA (Reg.) |
13,338 |
32,379 |
|
|
Repsol YPF SA |
1,045 |
19,236 |
|
|
Telefonica SA |
4,676 |
59,094 |
|
|
Vallehermoso SA (a) |
109 |
186 |
|
|
TOTAL SPAIN |
582,641 |
||
|
Sweden - 2.2% |
|||
|
Getinge AB (B Shares) |
10 |
298 |
|
|
H&M Hennes & Mauritz AB (B Shares) |
4,450 |
161,007 |
|
|
Nordea Bank AB |
2,433 |
22,503 |
|
|
Scania AB (B Shares) |
5,041 |
86,780 |
|
|
Skandinaviska Enskilda Banken AB (A Shares) |
7,973 |
61,042 |
|
|
Svenska Cellulosa AB (SCA) (B Shares) |
199 |
3,558 |
|
|
Svenska Handelsbanken AB (A Shares) |
177 |
6,172 |
|
|
Swedish Match Co. AB |
389 |
16,166 |
|
|
Telefonaktiebolaget LM Ericsson (B Shares) |
7,128 |
66,551 |
|
|
Volvo AB (B Shares) |
9,535 |
120,876 |
|
|
TOTAL SWEDEN |
544,953 |
||
|
Switzerland - 7.4% |
|||
|
ABB Ltd. (Reg.) |
1,152 |
19,984 |
|
|
Actelion Ltd. |
2,046 |
96,696 |
|
|
Compagnie Financiere Richemont SA Series A |
216 |
13,247 |
|
|
Credit Suisse Group |
754 |
14,529 |
|
|
Givaudan SA |
15 |
14,156 |
|
|
Nestle SA |
8,987 |
558,687 |
|
|
Novartis AG |
6,325 |
372,989 |
|
|
Pargesa Holding SA |
10 |
636 |
|
|
Roche Holding AG (participation certificate) |
2,100 |
382,298 |
|
|
Schindler Holding AG (participation certificate) |
6 |
707 |
|
|
Straumann Holding AG |
170 |
20,211 |
|
|
Swiss Life Holding AG |
391 |
44,396 |
|
|
Swiss Re Ltd. |
1,402 |
87,891 |
|
|
UBS AG |
5,340 |
59,581 |
|
|
Zurich Financial Services AG |
504 |
121,156 |
|
|
TOTAL SWITZERLAND |
1,807,164 |
||
|
Common Stocks - continued |
|||
|
Shares |
Value |
||
|
United Kingdom - 21.0% |
|||
|
Anglo American PLC (United Kingdom) |
1,003 |
$ 27,871 |
|
|
Antofagasta PLC |
5,486 |
96,430 |
|
|
AstraZeneca PLC: |
|
|
|
|
(United Kingdom) |
1,546 |
72,317 |
|
|
sponsored ADR |
3,188 |
149,167 |
|
|
Aviva PLC |
2,468 |
12,791 |
|
|
BAE Systems PLC |
24,038 |
121,567 |
|
|
Barclays PLC |
38,287 |
111,428 |
|
|
BG Group PLC |
4,557 |
93,198 |
|
|
BHP Billiton PLC |
2,385 |
69,800 |
|
|
BP PLC |
56,075 |
393,339 |
|
|
British American Tobacco PLC (United Kingdom) |
6,174 |
323,573 |
|
|
British Land Co. PLC |
102 |
874 |
|
|
British Sky Broadcasting Group PLC |
9,573 |
115,676 |
|
|
BT Group PLC |
25,000 |
86,357 |
|
|
Centrica PLC |
60 |
311 |
|
|
Cobham PLC |
25,347 |
88,262 |
|
|
Diageo PLC |
2,713 |
74,158 |
|
|
GlaxoSmithKline PLC |
1,351 |
30,622 |
|
|
GlaxoSmithKline PLC sponsored ADR (e) |
7,029 |
319,749 |
|
|
HSBC Holdings PLC: |
|
|
|
|
(United Kingdom) |
34,787 |
303,040 |
|
|
sponsored ADR |
2,293 |
100,044 |
|
|
Imperial Tobacco Group PLC |
4,433 |
172,876 |
|
|
ITV PLC |
70,532 |
93,291 |
|
|
J Sainsbury PLC |
10,951 |
56,965 |
|
|
Kazakhmys PLC |
7,652 |
72,051 |
|
|
Land Securities Group PLC |
4,618 |
58,002 |
|
|
Legal & General Group PLC |
30,796 |
62,591 |
|
|
Lloyds Banking Group PLC (a) |
25,793 |
13,611 |
|
|
Marks & Spencer Group PLC |
18,404 |
104,559 |
|
|
National Grid PLC |
16,504 |
179,158 |
|
|
Next PLC |
27 |
1,533 |
|
|
Pearson PLC |
50 |
949 |
|
|
Prudential PLC |
3,089 |
38,587 |
|
|
Reckitt Benckiser Group PLC |
2,221 |
125,547 |
|
|
Rio Tinto PLC |
4,838 |
211,223 |
|
|
Royal Dutch Shell PLC: |
|
|
|
|
Class A (United Kingdom) |
7,006 |
245,101 |
|
|
Class B (United Kingdom) |
10,077 |
363,544 |
|
|
SABMiller PLC |
399 |
17,610 |
|
|
Serco Group PLC |
74 |
661 |
|
|
Standard Chartered PLC (United Kingdom) |
7,121 |
157,338 |
|
|
Tate & Lyle PLC |
8,200 |
85,414 |
|
|
Tesco PLC |
34,279 |
183,211 |
|
|
Unilever PLC |
687 |
24,691 |
|
|
|
|||
|
Shares |
Value |
||
|
Vodafone Group PLC |
93,350 |
$ 269,217 |
|
|
Xstrata PLC |
6 |
91 |
|
|
TOTAL UNITED KINGDOM |
5,128,395 |
||
|
TOTAL COMMON STOCKS (Cost $24,046,424) |
|
||
|
Nonconvertible Preferred Stocks - 0.8% |
|||
|
|
|
|
|
|
Germany - 0.8% |
|||
|
Henkel AG & Co. KGaA |
1,423 |
107,552 |
|
|
ProSiebenSat.1 Media AG |
3,644 |
87,795 |
|
|
Volkswagen AG |
12 |
2,119 |
|
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $175,333) |
|
||
|
Government Obligations - 0.1% |
||||
|
|
Principal Amount |
|
||
|
United States of America - 0.1% |
||||
|
U.S. Treasury Bills, yield at date of purchase 0.11% 10/18/12 (f) |
|
$ 30,000 |
|
|
|
Money Market Funds - 4.3% |
|||
|
Shares |
|
||
|
Dreyfus Cash Management Institutional Shares, 0.10% (c) |
724,729 |
724,729 |
|
|
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) |
316,200 |
316,200 |
|
|
TOTAL MONEY MARKET FUNDS (Cost $1,040,929) |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $25,292,682) |
24,450,443 |
|
|
NET OTHER ASSETS (LIABILITIES) - (0.3)% |
(74,952) |
||
|
NET ASSETS - 100% |
$ 24,375,491 |
|
Futures Contracts |
|||||
|
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/(Depreciation) |
||
|
Purchased |
|||||
|
Equity Index Contracts |
|||||
|
9 NYSE E-mini MSCI EAFE Index Contracts |
Sept. 2012 |
$ 660,825 |
$ 26,848 |
||
|
The face value of futures purchased as a percentage of net assets is 2.7% |
|
Legend |
|
(a) Non-income producing |
|
(b) Affiliated fund that is 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. |
|
(c) The rate quoted is the annualized seven-day yield of the fund at period end. |
|
(d) Investment made with cash collateral received from securities on loan. |
|
(e) Security or a portion of the security is on loan at period end. |
|
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $29,997. |
|
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 Securities Lending Cash Central Fund |
$ 518 |
|
Other Information |
|
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
|
The following is a summary of the inputs used, as of August 31, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements. |
|
Valuation Inputs at Reporting Date: |
||||
|
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
|
Investments in Securities: |
||||
|
Equities: |
||||
|
Consumer Discretionary |
$ 2,462,848 |
$ 1,383,726 |
$ 1,079,122 |
$ - |
|
Consumer Staples |
3,196,633 |
1,890,745 |
1,305,888 |
- |
|
Energy |
2,098,820 |
307,409 |
1,791,411 |
- |
|
Financials |
5,579,690 |
3,717,237 |
1,862,453 |
- |
|
Health Care |
2,449,804 |
1,284,465 |
1,165,339 |
- |
|
Industrials |
2,669,040 |
1,748,588 |
920,452 |
- |
|
Information Technology |
877,976 |
13,381 |
864,595 |
- |
|
Materials |
1,929,623 |
916,374 |
1,013,249 |
- |
|
Telecommunication Services |
1,247,759 |
388,230 |
859,529 |
- |
|
Utilities |
867,324 |
587,452 |
279,872 |
- |
|
Government Obligations |
29,997 |
- |
29,997 |
- |
|
Money Market Funds |
1,040,929 |
1,040,929 |
- |
- |
|
Total Investments in Securities: |
$ 24,450,443 |
$ 13,278,536 |
$ 11,171,907 |
$ - |
|
Derivative Instruments: |
||||
|
Assets |
||||
|
Futures Contracts |
$ 26,848 |
$ 26,848 |
$ - |
$ - |
|
The following is a summary of transfers between Level 1 and Level 2 for the period ended August 31, 2012. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements: |
|
Transfers |
Total |
|
Level 1 to Level 2 |
$ 3,923,208 |
|
Level 2 to Level 1 |
$ 76,306 |
|
Value of Derivative Instruments |
|
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2012. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements. |
|
Primary Risk Exposure / |
Value |
|
|
|
Asset |
Liability |
|
Equity Risk |
||
|
Futures Contracts (a) |
$ 26,848 |
$ - |
|
Total Value of Derivatives |
$ 26,848 |
$ - |
|
(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Fidelity International Enhanced Index Fund
Financial Statements
Statement of Assets and Liabilities
|
|
August 31, 2012 (Unaudited) |
|
|
|
|
|
|
Assets |
|
|
|
Investment in securities, at value (including securities loaned of $309,332) - See accompanying schedule: Unaffiliated issuers (cost $24,976,482) |
$ 24,134,243 |
|
|
Fidelity Central Funds (cost $316,200) |
316,200 |
|
|
Total Investments (cost $25,292,682) |
|
$ 24,450,443 |
|
Segregated cash with broker for futures contracts |
|
9,310 |
|
Foreign currency held at value (cost $73,704) |
|
73,911 |
|
Receivable for fund shares sold |
|
68,444 |
|
Dividends receivable |
|
114,688 |
|
Interest receivable |
|
21 |
|
Distributions receivable from Fidelity Central Funds |
|
2 |
|
Receivable for daily variation margin on futures contracts |
|
5,580 |
|
Other receivables |
|
2 |
|
Total assets |
|
24,722,401 |
|
|
|
|
|
Liabilities |
|
|
|
Payable for investments purchased |
$ 1,162 |
|
|
Payable for fund shares redeemed |
17,009 |
|
|
Accrued management fee |
9,506 |
|
|
Other affiliated payables |
3,033 |
|
|
Collateral on securities loaned, at value |
316,200 |
|
|
Total liabilities |
|
346,910 |
|
|
|
|
|
Net Assets |
|
$ 24,375,491 |
|
Net Assets consist of: |
|
|
|
Paid in capital |
|
$ 28,383,196 |
|
Undistributed net investment income |
|
549,768 |
|
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions |
|
(3,740,686) |
|
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies |
|
(816,787) |
|
Net Assets, for 3,624,231 shares outstanding |
|
$ 24,375,491 |
|
Net Asset Value, offering price and redemption price per share ($24,375,491 ÷ 3,624,231 shares) |
|
$ 6.73 |
Statement of Operations
|
Six months ended August 31, 2012 (Unaudited) |
||
|
|
|
|
|
Investment Income |
|
|
|
Dividends |
|
$ 684,304 |
|
Interest |
|
339 |
|
Income from Fidelity Central Funds |
|
518 |
|
Income before foreign taxes withheld |
|
685,161 |
|
Less foreign taxes withheld |
|
(55,227) |
|
Total income |
|
629,934 |
|
|
|
|
|
Expenses |
|
|
|
Management fee |
$ 56,959 |
|
|
Transfer agent fees |
18,228 |
|
|
Independent trustees' compensation |
156 |
|
|
Miscellaneous |
35 |
|
|
Total expenses |
|
75,378 |
|
Net investment income (loss) |
|
554,556 |
|
Realized and Unrealized Gain (Loss) Net realized gain (loss) on: |
|
|
|
Investment securities: |
|
|
|
Unaffiliated issuers |
67,815 |
|
|
Foreign currency transactions |
1,975 |
|
|
Futures contracts |
27,366 |
|
|
Total net realized gain (loss) |
|
97,156 |
|
Change in net unrealized appreciation (depreciation) on: Investment securities |
(1,419,057) |
|
|
Assets and liabilities in foreign currencies |
(1,829) |
|
|
Futures contracts |
(66,762) |
|
|
Total change in net unrealized appreciation (depreciation) |
|
(1,487,648) |
|
Net gain (loss) |
|
(1,390,492) |
|
Net increase (decrease) in net assets resulting from operations |
|
$ (835,936) |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Changes in Net Assets
|
|
Six months ended August 31, 2012 (Unaudited) |
Year ended |
|
Increase (Decrease) in Net Assets |
|
|
|
Operations |
|
|
|
Net investment income (loss) |
$ 554,556 |
$ 711,725 |
|
Net realized gain (loss) |
97,156 |
(17,937) |
|
Change in net unrealized appreciation (depreciation) |
(1,487,648) |
(2,857,591) |
|
Net increase (decrease) in net assets resulting from operations |
(835,936) |
(2,163,803) |
|
Distributions to shareholders from net investment income |
(68,581) |
(697,868) |
|
Distributions to shareholders from net realized gain |
(11,430) |
(17,836) |
|
Total distributions |
(80,011) |
(715,704) |
|
Share transactions |
3,698,276 |
12,780,368 |
|
Reinvestment of distributions |
76,858 |
678,145 |
|
Cost of shares redeemed |
(4,549,805) |
(9,990,460) |
|
Net increase (decrease) in net assets resulting from share transactions |
(774,671) |
3,468,053 |
|
Redemption fees |
143 |
2,353 |
|
Total increase (decrease) in net assets |
(1,690,475) |
590,899 |
|
|
|
|
|
Net Assets |
|
|
|
Beginning of period |
26,065,966 |
25,475,067 |
|
End of period (including undistributed net investment income of $549,768 and undistributed net investment income of $63,793, respectively) |
$ 24,375,491 |
$ 26,065,966 |
|
Other Information Shares |
|
|
|
Sold |
565,140 |
1,810,888 |
|
Issued in reinvestment of distributions |
11,610 |
105,259 |
|
Redeemed |
(703,710) |
(1,444,919) |
|
Net increase (decrease) |
(126,960) |
471,228 |
Financial Highlights
|
|
Six months ended August 31, 2012 |
Years ended February 28, |
||||
|
|
(Unaudited) |
2012 I |
2011 |
2010 |
2009 |
2008 G |
|
Selected Per-Share Data |
|
|
|
|
|
|
|
Net asset value, beginning of period |
$ 6.95 |
$ 7.77 |
$ 6.58 |
$ 4.42 |
$ 9.35 |
$ 10.00 |
|
Income from Investment Operations |
|
|
|
|
|
|
|
Net investment income (loss) D |
.15 |
.20 |
.17 |
.15 |
.18 |
.03 |
|
Net realized and unrealized gain (loss) |
(.35) |
(.82) |
1.19 |
2.17 |
(4.96) |
(.68) |
|
Total from investment operations |
(.20) |
(.62) |
1.36 |
2.32 |
(4.78) |
(.65) |
|
Distributions from net investment income |
(.02) |
(.19) |
(.17) |
(.14) |
(.14) |
- |
|
Distributions from net realized gain |
- J |
(.01) |
- |
(.02) |
(.01) |
- |
|
Total distributions |
(.02) |
(.20) |
(.17) |
(.16) |
(.15) |
- |
|
Redemption fees added to paid in capital D, J |
- |
- |
- |
- |
- |
- |
|
Net asset value, end of period |
$ 6.73 |
$ 6.95 |
$ 7.77 |
$ 6.58 |
$ 4.42 |
$ 9.35 |
|
Total Return B, C |
(2.86)% |
(7.81)% |
20.95% |
52.44% |
(51.52)% |
(6.50)% |
|
Ratios to Average Net Assets E, H |
|
|
|
|
|
|
|
Expenses before reductions |
.62% A |
.62% |
.62% |
.62% |
.62% |
.62% A |
|
Expenses net of fee waivers, if any |
.62% A |
.62% |
.62% |
.62% |
.62% |
.62% A |
|
Expenses net of all reductions |
.62% A |
.62% |
.62% |
.62% |
.62% |
.62% A |
|
Net investment income (loss) |
4.56% A |
2.84% |
2.50% |
2.39% |
2.69% |
1.58% A |
|
Supplemental Data |
|
|
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 24,375 |
$ 26,066 |
$ 25,475 |
$ 19,958 |
$ 12,950 |
$ 7,273 |
|
Portfolio turnover rate F |
59% A |
49% |
32% |
22% K |
42% K |
15% |
A Annualized
B Total returns for periods of less than one year are not annualized.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Calculated based on average shares outstanding during the period.
E Fees and expenses of any underlying funds and Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying funds and Fidelity Central Funds.
F Amount does not include the portfolio activity of any underlying funds and Fidelity Central Funds.
G For the period December 20, 2007 (commencement of operations) to February 29, 2008.
H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
I For the year ended February 29.
J Amount represents less than $.01 per share.
K Reflects adjustments to exclude transactions in money market mutual funds.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Notes to Financial Statements
For the period ended August 31, 2012 (Unaudited)
1. Organization.
Fidelity® Large Cap Growth Enhanced Index Fund, Fidelity Large Cap Value Enhanced Index Fund, Fidelity Large Cap Core Enhanced Index Fund, Fidelity Mid Cap Enhanced Index Fund, Fidelity Small Cap Enhanced Index Fund and Fidelity International Enhanced Index Fund (the Funds) are funds of Fidelity Commonwealth Trust II (the Trust) and are authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust.
2. Significant Accounting Policies.
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Funds:
Security Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), each Fund attempts to obtain prices from one or more third party pricing vendor or broker to value their investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Strategic Advisers Fair Value Committee (the Committee), in accordance with procedures adopted by each Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees each Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations.
Each Fund categorizes the inputs to valuation techniques used to value their investments into a disclosure hierarchy consisting of three levels as shown below:
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)
Valuation techniques used to value each 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 significant 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 are used and are categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. For U.S. government and government agency obligations, pricing vendors utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as broker-supplied prices and are generally categorized as Level 2 in the hierarchy. 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 vendors. These 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 or official closing 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 open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value 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 aggregate value of investments by input level, as of August 31, 2012, including information on transfers between Levels 1 and 2, is included at the end of each Fund's Schedule of Investments.
Semiannual Report
2. Significant Accounting Policies - continued
Foreign Currency Translation. The Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. A fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.
Book-tax differences are primarily due to futures transactions, foreign currency transactions, passive foreign investment companies (PFIC), market discount, partnerships, capital loss carryforwards and losses deferred due to wash sales and excise tax regulations.
The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows for each Fund:
|
|
Tax cost |
Gross unrealized |
Gross unrealized |
Net unrealized |
|
Fidelity Large Cap Growth Enhanced Index Fund |
$ 155,282,483 |
$ 25,703,477 |
$ (2,881,447) |
$ 22,822,030 |
|
Fidelity Large Cap Value Enhanced Index Fund |
75,188,798 |
12,926,524 |
(2,127,299) |
10,799,225 |
|
Fidelity Large Cap Core Enhanced Index Fund |
238,318,674 |
20,828,852 |
(19,778,549) |
1,050,303 |
|
Fidelity Mid Cap Enhanced Index Fund |
73,115,364 |
10,555,296 |
(2,342,380) |
8,212,916 |
|
Fidelity Small Cap Enhanced Index Fund |
120,898,147 |
16,773,869 |
(6,832,239) |
9,941,630 |
|
Fidelity International Enhanced Index Fund |
25,311,191 |
2,169,122 |
(3,029,870) |
(860,748) |
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
2. Significant Accounting Policies - continued
Income Tax Information and Distributions to Shareholders - continued
Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Funds are permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. At February 29, 2012, capital loss carryforwards were as follows:
|
|
Fiscal year of expiration |
|||
|
|
2017 |
2018 |
2019 |
Total with |
|
Fidelity Large Cap Growth Enhanced Index Fund |
$ - |
$ (3,291,456) |
$ - |
$ (3,291,456) |
|
Fidelity Large Cap Core Enhanced Index Fund |
- |
(16,826,028) |
- |
(16,826,028) |
|
Fidelity Mid Cap Enhanced Index Fund |
- |
(1,144,350) |
(508,445) |
(1,652,795) |
|
Fidelity International Enhanced Index Fund |
(730,243) |
(1,890,764) |
(754,234) |
(3,375,241) |
|
|
No expiration |
|
|
|
Long-term |
Total capital |
|
Fidelity Large Cap Growth Enhanced Index Fund |
$ - |
$ (3,291,456) |
|
Fidelity Large Cap Core Enhanced Index Fund |
(267,728) |
(17,093,756) |
|
Fidelity Mid Cap Enhanced Index Fund |
- |
(1,652,795) |
|
Fidelity International Enhanced Index Fund |
- |
(3,375,241) |
As a result of large redemptions in June 2011, Fidelity Large Cap Core Enhanced Index Fund had an "ownership change" under the Internal Revenue Code, which limits capital losses that will be available to offset future capital gains to approximately $2,804,338 per year plus certain gains in Fidelity Large Cap Core Enhanced Index Fund existing at the time of the ownership change. As a result, at least $50,550,867 of Fidelity Large Cap Core Enhanced Index Fund's capital loss carryforward will expire unused and is not included in the capital loss carryforward amounts disclosed above.
Certain of the Funds intend to elect to defer to the fiscal year ending February 28, 2013, capital losses recognized during the period November 1, 2011 to February 29, 2012. Loss deferrals were as follows:
|
|
Capital losses |
|
Fidelity Large Cap Value Enhanced Index Fund |
$ (1,340,140) |
|
Fidelity International Enhanced Index Fund |
(322,863) |
Short Term Trading (Redemption) Fees. Shares held by investors of Fidelity Small Cap Enhanced Index Fund less than 90 days are subject to a redemption fee equal to 1.50% of the net asset value of shares redeemed. Shares held by investors of Fidelity Mid Cap Enhanced Index Fund and Fidelity International Enhanced Index Fund less than 30 days are subject to a redemption fee equal to 0.75% and 1.00%, respectively, of the net asset value of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Funds and accounted for as an addition to paid in capital.
New Accounting Pronouncement. In December 2011, the Financial Accounting Standards Board issued Accounting Standard Update No. 2011-11, Disclosures about Offsetting Assets and Liabilities. The update creates new disclosure requirements requiring entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is currently evaluating the impact of the update's adoption on the Funds' financial statement disclosures.
3. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Funds' investment objective allows the Funds to enter into various types of derivative contracts, including futures 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 instrument 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.
Semiannual Report
3. Derivative Instruments - continued
Risk Exposures and the Use of Derivative Instruments - continued
The Funds used derivatives to increase returns and 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 Funds may not achieve their objectives.
The Funds' use of derivatives increased or decreased their exposure to the following risk:
|
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. |
The Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Funds. Counterparty credit risk related to exchange-traded futures contracts is minimal because of the protection provided by the exchange on which they trade.
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 and amounts recognized in the Statement of Assets and Liabilities. 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.
Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the Funds, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period as shown in the Statement of Operations.
|
Primary Risk Exposure / Derivative Type |
Net Realized |
Change in Net Unrealized |
|
Fidelity Large Cap Growth Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ 13,199 |
$ 108,963 |
|
Fidelity Large Cap Value Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ 55,979 |
$ (45,531) |
|
Fidelity Large Cap Core Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ 43,553 |
$ (188,062) |
|
Fidelity Mid Cap Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ 209,024 |
$ (140,054) |
|
Fidelity Small Cap Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ (39,374) |
$ 228,421 |
|
Fidelity International Enhanced Index Fund |
|
|
|
Equity Risk |
|
|
|
Futures Contracts (a) |
$ 27,366 |
$ (66,762) |
(a) A summary of the value of derivatives by primary risk exposure as of period end, is included at the end of the Schedule of Investments and is representative of activity for the period.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Funds used futures contracts to manage their exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.
Any open futures contracts at period end are shown 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 at period end and is representative of activity for the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is shown as segregated cash in the Statement of Assets and Liabilities.
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
4. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, are noted in the table below.
|
|
Purchases ($) |
Sales ($) |
|
Fidelity Large Cap Growth Enhanced Index Fund |
77,469,151 |
59,695,581 |
|
Fidelity Large Cap Value Enhanced Index Fund |
38,298,842 |
29,680,845 |
|
Fidelity Large Cap Core Enhanced Index Fund |
112,623,977 |
135,604,637 |
|
Fidelity Mid Cap Enhanced Index Fund |
38,891,005 |
40,299,459 |
|
Fidelity Small Cap Enhanced Index Fund |
51,623,249 |
53,111,589 |
|
Fidelity International Enhanced Index Fund |
6,953,907 |
7,142,559 |
5. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Strategic Advisers, Inc. (Strategic Advisers), an affiliate of Fidelity Management & Research Company (FMR), provides the Funds with investment management related services. For these services, the Funds pay a monthly management fee to Strategic Advisers. The management fee is based on an annual rate of 0.30% of average net assets for Fidelity Large Cap Growth Enhanced Index, Fidelity Large Cap Value Enhanced Index and Fidelity Large Cap Core Enhanced Index, 0.45% of average net assets for Fidelity Mid Cap Enhanced Index, 0.52% of average net assets for Fidelity Small Cap Enhanced Index and 0.47% of average net assets for Fidelity International Enhanced Index. Under the management contract, Strategic Advisers pays all other ordinary fund-wide operating expenses (such as custody, audit, legal and pricing and bookkeeping fees), except the compensation of the independent Trustees and certain other expenses such as interest expense. The management fee paid to Strategic Advisers by the Funds is reduced by an amount equal to the fees and expenses paid by the Funds to the independent Trustees.
In addition, under the expense contract, Strategic Advisers pays other expenses such as those listed above for each of the Funds so that the total expenses do not exceed certain amounts of each Fund's average net assets with certain exceptions, as noted in the following table:
|
Fidelity Large Cap Growth Enhanced Index Fund |
.45% |
|
Fidelity Large Cap Value Enhanced Index Fund |
.45% |
|
Fidelity Large Cap Core Enhanced Index Fund |
.45% |
|
Fidelity Mid Cap Enhanced Index Fund |
.60% |
|
Fidelity Small Cap Enhanced Index Fund |
.67% |
|
Fidelity International Enhanced Index Fund |
.62% |
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by Strategic Advisers for providing these services.
Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the Funds' transfer, dividend disbursing and shareholder servicing agent. FIIOC receives account fees and asset-based fees that vary according to type of account. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, each fund paid transfer agent fees at the annualized rate of .15% of average net assets.
Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Funds, along with other registered investment companies having management contracts with FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Each applicable fund's activity in this program during the period for which loans were outstanding was as follows:
|
|
Borrower or |
Average Loan Balance |
Weighted Average |
Interest |
|
Fidelity Large Cap Core Enhanced Index Fund |
Borrower |
$ 5,156,000 |
.42% |
$ 779 |
6. Investments in Fidelity Central Funds.
The Funds invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by FMR and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Fidelity Securities Lending Cash Central Fund seeks preservation of capital and current income and is managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC web site or upon request.
Semiannual Report
7. Committed Line of Credit.
Certain Funds participate with other funds managed by FMR or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are as follows:
|
Fidelity Large Cap Growth Enhanced Index Fund |
$ 199 |
|
Fidelity Large Cap Value Enhanced Index Fund |
112 |
|
Fidelity Large Cap Core Enhanced Index Fund |
347 |
|
Fidelity Mid Cap Enhanced Index Fund |
109 |
|
Fidelity Small Cap Enhanced Index Fund |
177 |
|
Fidelity International Enhanced Index Fund |
35 |
During the period, there were no borrowings on this line of credit.
8. Security Lending.
Certain Funds lend portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, each applicable Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Funds and any additional required collateral is delivered to the Funds on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on each applicable Fund's Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented on each applicable Fund's Statement of Operations as a component of income from Fidelity Central Funds.
9. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.
|
|
Expense |
|
|
|
|
Fidelity Large Cap Growth Enhanced Index Fund |
$ 13 |
|
Fidelity Large Cap Core Enhanced Index Fund |
1 |
|
Fidelity Mid Cap Enhanced Index Fund |
1 |
10. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
At the end of the period, Strategic Advisers U.S. Opportunity Fund was the owner of record of approximately 28% of the outstanding shares of the Fidelity Large Cap Core Enhanced Index Fund. In addition, Strategic Advisers U.S. Opportunity II Fund was the owner of record of approximately 10% of the total outstanding shares of the Fidelity Large Cap Value Enhanced Index Fund. Mutual funds managed by FMR or its affiliates were the owners of record, in the aggregate, of approximately 37% of the total outstanding shares of the Fidelity Large Cap Core Enhanced Index Fund.
Semiannual Report
Investments
Semiannual Report
Investment Adviser
Strategic Advisers, Inc.
Boston, MA
Investment Sub-Adviser
Geode Capital Management, LLC
Boston, MA
General Distributor
Fidelity Distributors Corporation
Smithfield, RI
Transfer and Service Agents
Fidelity Investments Institutional Operations Company, Inc.
Boston, MA
Fidelity Service Company, Inc.
Boston, MA
Custodian
The Bank of New York Mellon
New York, NY
The Fidelity Telephone Connection
Mutual Fund 24-Hour Service
Exchanges/Redemptions
and Account Assistance 1-800-544-6666
Product Information 1-800-544-6666
Retirement Accounts 1-800-544-4774
(8 a.m. - 9 p.m.)
TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)
Fidelity Automated Service
Telephone (FAST®) 
1-800-544-5555
Automated line for quickest service
(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
82 Devonshire St., Boston, MA 02109
www.fidelity.com
GEI-USAN-1012 1.855141.105
Item 2. Code of Ethics
Not applicable.
Item 3. Audit Committee Financial Expert
Not applicable.
Item 4. Principal Accountant Fees and Services
Not applicable.
Item 5. Audit Committee of Listed Registrants
Not applicable.
Item 6. Investments
(a) Not applicable.
(b) Not applicable
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9. Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Commonwealth Trust II's Board of Trustees.
Item 11. Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Commonwealth Trust II's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.
Item 12. Exhibits
|
(a) |
(1) |
Not applicable. |
|
(a) |
(2) |
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
|
(a) |
(3) |
Not applicable. |
|
(b) |
|
Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Commonwealth Trust II
|
By: |
/s/Kenneth B. Robins |
|
|
Kenneth B. Robins |
|
|
President and Treasurer |
|
|
|
|
Date: |
October 26, 2012 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
/s/Kenneth B. Robins |
|
|
Kenneth B. Robins |
|
|
President and Treasurer |
|
|
|
|
Date: |
October 26, 2012 |
|
By: |
/s/Nicholas E. Steck |
|
|
Nicholas E. Steck |
|
|
Chief Financial Officer |
|
|
|
|
Date: |
October 26, 2012 |