NPORT-EX 2 QTLY_3080_20200831.htm

Quarterly Holdings Report
for

Strategic Advisers® Fidelity® U.S. Total Stock Fund

Offered exclusively to certain clients of Strategic Advisers LLC - not available for sale to the general public

August 31, 2020







TSF-QTLY-1020
1.9887485.102





Schedule of Investments August 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 43.8%   
 Shares Value 
COMMUNICATION SERVICES - 3.9%   
Diversified Telecommunication Services - 0.2%   
GCI Liberty, Inc. (a) 208,000 $16,802,240 
Liberty Global PLC Class C (a) 352,300 8,106,423 
Verizon Communications, Inc. 961,287 56,975,480 
Vonage Holdings Corp. (a) 460,397 5,271,546 
  87,155,689 
Entertainment - 0.8%   
Activision Blizzard, Inc. 579,800 48,424,896 
DouYu International Holdings Ltd. ADR (a) 822,450 13,767,813 
Electronic Arts, Inc. (a) 215,700 30,083,679 
Lions Gate Entertainment Corp. Class B (a) 1,023,200 9,270,192 
Netflix, Inc. (a) 102,800 54,438,768 
Nihon Falcom Corp. 5,000 68,593 
Nintendo Co. Ltd. ADR (b) 25,100 1,690,987 
Spotify Technology SA (a) 22,900 6,461,464 
Take-Two Interactive Software, Inc. (a) 37,898 6,487,759 
The Walt Disney Co. 749,142 98,789,356 
Vivendi SA 1,078,000 30,690,332 
Warner Music Group Corp. Class A (b) 204,700 6,071,402 
  306,245,241 
Interactive Media & Services - 1.5%   
Alphabet, Inc.:   
Class A (a) 151,800 247,362,654 
Class C (a) 50,100 81,872,418 
CarGurus, Inc. Class A (a) 513,700 12,524,006 
Dip Corp. 1,000 22,169 
Eventbrite, Inc. (a) 10,900 117,175 
Facebook, Inc. Class A (a) 792,000 232,214,400 
InterActiveCorp (a) 48,300 6,423,417 
Match Group, Inc. (a) 96,847 10,815,873 
Wise Talent Information Technology Co. Ltd. (a) 1,100,103 2,759,788 
ZIGExN Co. Ltd. 300,000 940,377 
Zoominfo Technologies, Inc. 168,800 6,552,816 
  601,605,093 
Media - 1.2%   
AMC Networks, Inc. Class A (a) 20,000 485,800 
Comcast Corp. Class A 6,148,810 275,528,176 
Corus Entertainment, Inc. Class B (non-vtg.) 95,400 233,316 
Discovery Communications, Inc. Class A (a)(b) 1,240,100 27,362,807 
F@N Communications, Inc. 26,900 115,560 
Fox Corp. Class A 382,633 10,660,155 
Hyundai HCN 486,513 1,509,720 
Interpublic Group of Companies, Inc. 2,691,200 47,795,712 
Liberty Broadband Corp. Class C (a) 194,500 27,247,505 
Liberty Media Corp. Liberty Formula One Group Series C (a) 501,200 19,536,776 
Nexstar Broadcasting Group, Inc. Class A 86,200 8,276,062 
Nippon Television Network Corp. 70,700 835,731 
Pico Far East Holdings Ltd. 1,000,000 127,666 
The New York Times Co. Class A 373,000 16,162,090 
ViacomCBS, Inc.:   
Class A 279,656 8,540,694 
Class B 324,800 9,045,680 
WOWOW INC. 87,000 2,224,387 
WPP PLC 2,050,300 17,365,572 
  473,053,409 
Wireless Telecommunication Services - 0.2%   
Okinawa Cellular Telephone Co. 33,400 1,316,575 
T-Mobile U.S., Inc. 833,575 97,261,531 
  98,578,106 
TOTAL COMMUNICATION SERVICES  1,566,637,538 
CONSUMER DISCRETIONARY - 4.5%   
Auto Components - 0.5%   
Adient PLC (a) 174,900 3,032,766 
Aptiv PLC 275,500 23,726,060 
BorgWarner, Inc. 1,565,700 63,551,763 
Cooper-Standard Holding, Inc. (a) 10,000 181,200 
DaikyoNishikawa Corp. 50,000 271,444 
Dana, Inc. 370,500 5,168,475 
DTR Automotive Corp. 11,829 221,139 
Eagle Industry Co. Ltd. 71,400 502,223 
G-Tekt Corp. 537,300 5,245,416 
Gentex Corp. 64,000 1,731,200 
Hi-Lex Corp. 100,300 1,028,427 
Hyundai Mobis 97,500 18,391,502 
IJT Technology Holdings Co. Ltd. 325,900 1,326,185 
Lear Corp. 461,800 52,612,874 
Linamar Corp. 250,000 7,839,154 
Strattec Security Corp. 16,610 347,481 
TPR Co. Ltd. 204,200 2,731,921 
  187,909,230 
Automobiles - 0.1%   
General Motors Co. 886,600 26,269,958 
Renault SA 34,000 967,282 
Tesla, Inc. (a) 6,500 3,239,080 
XPeng, Inc. ADR (a) 227,100 4,655,550 
  35,131,870 
Distributors - 0.0%   
Arata Corp. 5,000 239,343 
Harima-Kyowa Co. Ltd. (b) 24,100 386,820 
LKQ Corp. (a) 110,500 3,507,270 
Yagi & Co. Ltd. 60,045 793,684 
  4,927,117 
Diversified Consumer Services - 0.2%   
Afya Ltd. (a) 234,784 6,003,427 
Heian Ceremony Service Co. Ltd. 151,600 1,170,833 
MegaStudy Co. Ltd. 79,794 789,537 
Multicampus Co. Ltd. 33,128 814,597 
Service Corp. International 701,942 32,043,652 
ServiceMaster Global Holdings, Inc. (a) 641,500 25,595,850 
  66,417,896 
Hotels, Restaurants & Leisure - 0.4%   
Caesars Entertainment, Inc. (a) 227,861 10,436,034 
Darden Restaurants, Inc. 195,900 16,978,653 
Las Vegas Sands Corp. 455,500 23,098,405 
McDonald's Corp. 352,300 75,223,096 
Starbucks Corp. 87,700 7,408,019 
The Restaurant Group PLC 1,119,900 845,071 
Wendy's Co. 856,250 17,929,875 
  151,919,153 
Household Durables - 0.5%   
Cuckoo Holdings Co. Ltd. 22,347 1,718,124 
FJ Next Co. Ltd. 365,500 2,802,115 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 470,713 3,745,936 
Iida Group Holdings Co. Ltd. 68,900 1,346,580 
Lennar Corp. Class A 283,900 21,241,398 
Mohawk Industries, Inc. (a) 576,100 53,191,313 
Newell Brands, Inc. 506,100 8,087,478 
Sony Corp. sponsored ADR 33,800 2,658,032 
Toll Brothers, Inc. 701,985 29,637,807 
Whirlpool Corp. 317,300 56,390,556 
  180,819,339 
Internet & Direct Marketing Retail - 1.0%   
Alibaba Group Holding Ltd. sponsored ADR (a) 59,900 17,193,097 
Amazon.com, Inc. (a) 89,400 308,515,824 
Expedia, Inc. 166,000 16,292,900 
Hyundai Home Shopping Network Corp. 4,861 267,303 
Mercari, Inc. (a) 10,000 454,138 
NS Shopping Co. Ltd. 21,105 207,939 
Ocado Group PLC (a) 63,700 2,126,220 
The Booking Holdings, Inc. (a) 34,070 65,089,032 
  410,146,453 
Leisure Products - 0.1%   
Brunswick Corp. 351,192 21,735,273 
Hasbro, Inc. 374,700 29,578,818 
  51,314,091 
Multiline Retail - 0.1%   
Big Lots, Inc. 2,000 94,300 
Dollar General Corp. 154,400 31,170,272 
Dollar Tree, Inc. (a) 281,500 27,100,005 
Macy's, Inc. (b) 50,000 348,500 
Ryohin Keikaku Co. Ltd. 1,000 15,673 
  58,728,750 
Specialty Retail - 1.2%   
Arc Land Sakamoto Co. Ltd. 30,000 597,649 
AT-Group Co. Ltd. 152,100 1,828,101 
Bed Bath & Beyond, Inc. (b) 361,700 4,405,506 
Best Buy Co., Inc. 399,500 44,308,545 
Burlington Stores, Inc. (a) 208,145 40,989,995 
Dick's Sporting Goods, Inc. 337,600 18,270,912 
Dunelm Group PLC 259,200 4,951,279 
Five Below, Inc. (a) 172,700 18,902,015 
Foot Locker, Inc. 750,000 22,747,500 
Gap, Inc. 5,000 86,950 
Genesco, Inc. (a) 35,000 682,500 
Hibbett Sports, Inc. (a) 115,000 3,837,550 
Hour Glass Ltd. 1,871,200 969,605 
JB Hi-Fi Ltd. 74,775 2,766,339 
John David Group PLC 875,000 8,489,365 
Ku Holdings Co. Ltd. 47,500 357,433 
Lookers PLC (c) 828,728 232,638 
Lowe's Companies, Inc. 653,733 107,663,288 
Mandarake, Inc. (b) 15,700 74,857 
Sally Beauty Holdings, Inc. (a) 1,039,000 11,595,240 
Samse SA 2,200 346,549 
The Buckle, Inc. 25,000 468,500 
The Home Depot, Inc. 295,900 84,343,336 
Tiffany & Co., Inc. 66,500 8,146,250 
TJX Companies, Inc. 627,300 34,369,767 
Tokatsu Holdings Co. Ltd. 18,700 68,504 
Ulta Beauty, Inc. (a) 117,600 27,304,368 
Urban Outfitters, Inc. (a) 559,100 13,161,214 
Williams-Sonoma, Inc. 254,800 22,361,248 
  484,327,003 
Textiles, Apparel & Luxury Goods - 0.4%   
Capri Holdings Ltd. (a) 80,200 1,270,368 
Columbia Sportswear Co. 470,800 40,286,356 
Embry Holdings Ltd. 280,000 37,537 
Ff Group (a)(c) 2,700 3,866 
Fossil Group, Inc. (a) 30,000 193,050 
G-III Apparel Group Ltd. (a) 10,000 110,600 
Levi Strauss & Co. Class A (b) 1,300,600 16,023,392 
NIKE, Inc. Class B 433,800 48,537,882 
PVH Corp. 550,500 30,695,880 
Sitoy Group Holdings Ltd. 2,613,000 122,983 
Tapestry, Inc. 1,059,300 15,603,489 
Ted Baker PLC (b) 418,192 619,392 
VF Corp. 396,700 26,083,025 
Wolverine World Wide, Inc. 3,000 74,940 
  179,662,760 
TOTAL CONSUMER DISCRETIONARY  1,811,303,662 
CONSUMER STAPLES - 2.7%   
Beverages - 0.4%   
Anheuser-Busch InBev SA NV ADR (b) 76,200 4,431,030 
Boston Beer Co., Inc. Class A (a) 17,000 14,993,660 
Britvic PLC 588,000 6,661,426 
C&C Group PLC (United Kingdom) 4,373,700 12,511,603 
Constellation Brands, Inc. Class A (sub. vtg.) 206,500 38,095,120 
Diageo PLC sponsored ADR 73,200 9,838,080 
Monster Beverage Corp. (a) 443,700 37,208,682 
The Coca-Cola Co. 703,160 34,827,515 
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares) 690,621 1,372,295 
  159,939,411 
Food & Staples Retailing - 0.9%   
Amsterdam Commodities NV 40,700 923,789 
BJ's Wholesale Club Holdings, Inc. (a) 331,800 14,735,238 
Halows Co. Ltd. 24,400 919,190 
Kroger Co. 178,100 6,354,608 
Nihon Chouzai Co. Ltd. 13,400 207,234 
OM2 Network Co. Ltd. 70,900 826,715 
Performance Food Group Co. (a) 897,000 32,749,470 
Qol Holdings Co. Ltd. 60,100 645,175 
Retail Partners Co. Ltd. 154,400 2,704,168 
Sapporo Clinical Laboratory 8,200 119,383 
Satoh & Co. Ltd. (b) 12,300 174,196 
Sysco Corp. 1,576,600 94,816,724 
U.S. Foods Holding Corp. (a) 2,942,700 71,654,745 
Walgreens Boots Alliance, Inc. 1,050,000 39,921,000 
Walmart, Inc. 680,800 94,529,080 
  361,280,715 
Food Products - 0.5%   
Axyz Co. Ltd. 10,000 273,710 
Changshouhua Food Co. Ltd. (a) 2,467,000 1,093,573 
Conagra Brands, Inc. 826,169 31,691,843 
Ingredion, Inc. 150,000 12,066,000 
JC Comsa Corp. 26,800 121,203 
Kaneko Seeds Co. Ltd. 88,900 1,195,238 
Lotte Samkang Co. Ltd. 1,057 270,591 
Mondelez International, Inc. 825,600 48,231,552 
Origin Enterprises PLC 65,000 266,833 
Pickles Corp. 32,500 812,845 
Post Holdings, Inc. (a) 398,377 35,065,144 
Prima Meat Packers Ltd. 14,600 427,324 
S Foods, Inc. 27,400 745,050 
Shinobu Food Products Co. Ltd. 2,300 12,356 
Toyo Sugar Refining Co. Ltd. 39,400 462,392 
TreeHouse Foods, Inc. (a) 403,900 17,290,959 
Tyson Foods, Inc. Class A 552,100 34,671,880 
  184,698,493 
Household Products - 0.4%   
Colgate-Palmolive Co. 4,300 340,818 
Energizer Holdings, Inc. 7,200 333,288 
Procter & Gamble Co. 982,998 135,978,113 
Spectrum Brands Holdings, Inc. 147,713 8,803,695 
  145,455,914 
Personal Products - 0.1%   
Estee Lauder Companies, Inc. Class A 189,900 42,104,628 
Hengan International Group Co. Ltd. 280,000 2,204,713 
Unilever NV 74,100 4,305,702 
  48,615,043 
Tobacco - 0.4%   
Altria Group, Inc. 3,552,640 155,392,474 
British American Tobacco PLC sponsored ADR (b) 690,414 23,315,281 
KT&G Corp. 23,699 1,658,424 
Scandinavian Tobacco Group A/S (d) 32,565 518,156 
  180,884,335 
TOTAL CONSUMER STAPLES  1,080,873,911 
ENERGY - 1.7%   
Energy Equipment & Services - 0.1%   
Baker Hughes Co. Class A 178,200 2,544,696 
Championx Corp. (a) 27,125 277,760 
Geospace Technologies Corp. (a) 39,300 257,415 
High Arctic Energy Services, Inc. 362,600 175,136 
Hoegh LNG Partners LP (b) 368,400 3,857,148 
John Wood Group PLC 260,000 861,241 
Liberty Oilfield Services, Inc. Class A 206,309 1,330,693 
National Oilwell Varco, Inc. 78,500 942,000 
Oceaneering International, Inc. (a) 638,808 3,443,175 
SBM Offshore NV 183,000 3,163,278 
Subsea 7 SA (a) 1,174,800 9,507,923 
TechnipFMC PLC 130,100 1,001,770 
Valaris PLC Class A (a)(b) 319,125 30,796 
  27,393,031 
Oil, Gas & Consumable Fuels - 1.6%   
Africa Oil Corp. (a)(b) 1,723,600 1,440,353 
Aker Bp ASA 87,700 1,744,824 
Apache Corp. 706,400 10,454,720 
Baytex Energy Corp. (a) 2,463,500 1,265,416 
Bonterra Energy Corp. (b) 218,300 252,718 
BP PLC sponsored ADR 430,500 9,010,365 
Cabot Oil & Gas Corp. 2,449,100 46,459,427 
Cairn Energy PLC (a) 189,800 357,738 
Canadian Natural Resources Ltd. 539,400 10,636,231 
Cenovus Energy, Inc. (Canada) 4,544,909 21,464,054 
Cheniere Energy, Inc. (a) 41,900 2,180,895 
Chevron Corp. 80,400 6,747,972 
China Petroleum & Chemical Corp.:   
(H Shares) 27,500,100 12,626,457 
sponsored ADR (H Shares) 9,600 440,448 
CNOOC Ltd. sponsored ADR 19,400 2,195,304 
CNX Resources Corp. (a) 175,000 1,918,000 
Comstock Resources, Inc. (a) 212,900 1,226,304 
ConocoPhillips Co. 125,700 4,762,773 
Delek U.S. Holdings, Inc. 385,000 6,056,050 
Enbridge, Inc. 52,000 1,665,040 
Enterprise Products Partners LP 118,000 2,072,080 
EQT Corp. 1,250,000 19,837,500 
Equinor ASA sponsored ADR 2,982,191 47,864,166 
Exxon Mobil Corp. 3,953,345 157,896,599 
Frontline Ltd. (NY Shares) (b) 10,000 79,600 
Galp Energia SGPS SA Class B 306,400 3,290,172 
GasLog Partners LP (b) 152,822 594,478 
Gibson Energy, Inc. 60,200 1,096,140 
Golar LNG Partners LP 778,067 2,007,413 
Hess Corp. 1,279,300 58,898,972 
Husky Energy, Inc. 1,375,800 4,651,572 
Imperial Oil Ltd. 200,000 3,298,195 
Kosmos Energy Ltd. 4,637,200 6,816,684 
Magnolia Oil & Gas Corp. Class A (a) 5,027,200 32,375,168 
Marathon Oil Corp. 422,000 2,228,160 
Marathon Petroleum Corp. 29,300 1,038,978 
MEG Energy Corp. (a) 1,665,225 4,621,547 
Motor Oil (HELLAS) Corinth Refineries SA 111,300 1,560,633 
Murphy Oil Corp. (b) 300,000 4,122,000 
Northern Oil & Gas, Inc. (a)(b) 13,228,100 8,975,266 
NuVista Energy Ltd. (a) 5,000 3,105 
Oil & Natural Gas Corp. Ltd. 10,000,000 11,186,721 
Parex Resources, Inc. (a) 2,072,100 28,356,641 
Phillips 66 Co. 140,400 8,209,188 
QEP Resources, Inc. 1,000,000 1,300,000 
Royal Dutch Shell PLC Class B sponsored ADR 176,100 4,948,410 
Seven Generations Energy Ltd. (a) 5,000 15,793 
Sinopec Kantons Holdings Ltd. 5,064,000 1,998,293 
Southwestern Energy Co. (a) 5,028,284 13,978,630 
Star Petroleum Refining PCL 2,366,800 521,640 
Teekay LNG Partners LP 1,311,600 14,519,412 
Thai Oil PCL (For. Reg.) 468,100 625,037 
Total SA sponsored ADR 1,360,946 53,852,633 
Tsakos Energy Navigation Ltd. 10,000 87,900 
Unit Corp. (a)(b) 1,616,500 73,066 
Valero Energy Corp. 301,800 15,871,662 
Whiting Petroleum Corp. (a)(b) 23,300 18,628 
World Fuel Services Corp. 125,000 3,300,000 
  665,097,171 
TOTAL ENERGY  692,490,202 
FINANCIALS - 6.0%   
Banks - 2.1%   
Bank of America Corp. 8,584,709 220,970,410 
BankUnited, Inc. 700,688 16,382,085 
Boston Private Financial Holdings, Inc. 1,533,419 9,108,509 
CIT Group, Inc. 363,800 7,155,946 
Citigroup, Inc. 920,000 47,030,400 
Comerica, Inc. 125,000 4,941,250 
Credit Agricole Atlantique Vendee 7,800 977,726 
Cullen/Frost Bankers, Inc. 107,900 7,494,734 
East West Bancorp, Inc. 5,000 183,900 
EFG Eurobank Ergasias SA (a) 8,185,100 3,928,565 
First Horizon National Corp. 2,767,570 26,430,294 
FNB Corp., Pennsylvania 2,656,455 19,923,413 
Gunma Bank Ltd. 468,400 1,543,423 
Hiroshima Bank Ltd. 65,700 333,106 
Huntington Bancshares, Inc. 536,400 5,047,524 
JPMorgan Chase & Co. 1,233,771 123,611,516 
KeyCorp 512,595 6,315,170 
M&T Bank Corp. 253,300 26,155,758 
NIBC Holding NV (d) 660,726 5,826,848 
Northrim Bancorp, Inc. 5,000 134,550 
Ogaki Kyoritsu Bank Ltd. 51,400 1,076,869 
PNC Financial Services Group, Inc. 325,134 36,154,901 
Shinsei Bank Ltd. 82,500 965,090 
Signature Bank 31,700 3,075,851 
Skandiabanken ASA (d) 110,600 853,331 
Societe Generale Series A 113,700 1,840,541 
Sumitomo Mitsui Financial Group, Inc. 615,900 18,110,652 
Synovus Financial Corp. 92,800 2,029,536 
TCF Financial Corp. 819,800 22,036,224 
The Keiyo Bank Ltd. 148,400 693,556 
The San-In Godo Bank Ltd. 142,300 712,071 
Truist Financial Corp. 1,355,745 52,616,463 
U.S. Bancorp 661,527 24,079,583 
Unicaja Banco SA (d) 1,829,300 1,316,346 
Van Lanschot NV (Bearer) 5,800 116,695 
Wells Fargo & Co. 5,576,013 134,660,714 
Western Alliance Bancorp. 283,300 10,000,490 
Yamaguchi Financial Group, Inc. 127,800 848,259 
  844,682,299 
Capital Markets - 1.0%   
Affiliated Managers Group, Inc. 201,300 13,819,245 
Ares Capital Corp. 38,829 571,175 
Bank of New York Mellon Corp. 1,305,500 48,277,390 
BlackRock, Inc. Class A 64,600 38,384,674 
Cboe Global Markets, Inc. 115,600 10,610,924 
Cowen Group, Inc. Class A 401,900 7,270,371 
Daou Data Corp. 1,000 11,410 
Goldman Sachs Group, Inc. 150,000 30,730,500 
Intercontinental Exchange, Inc. 235,800 25,049,034 
Invesco Ltd. 417,000 4,253,400 
KKR & Co. LP 413,700 14,818,734 
Lazard Ltd. Class A 764,163 24,201,042 
Morgan Stanley 1,095,730 57,262,850 
Morningstar, Inc. 90,600 14,509,590 
Northern Trust Corp. 499,600 40,912,244 
Raymond James Financial, Inc. 101,363 7,675,206 
State Street Corp. 920,446 62,673,168 
Virtu Financial, Inc. Class A 637,100 16,456,293 
  417,487,250 
Consumer Finance - 0.8%   
360 Finance, Inc. ADR (a) 177,800 2,222,500 
Aeon Credit Service (Asia) Co. Ltd. 3,946,000 2,620,549 
Ally Financial, Inc. 222,700 5,095,376 
Capital One Financial Corp. 1,366,900 94,357,107 
Discover Financial Services 2,107,900 111,887,332 
Encore Capital Group, Inc. (a) 16,726 768,392 
First Cash Financial Services, Inc. 369,810 22,096,148 
Navient Corp. 92,600 841,734 
OneMain Holdings, Inc. 499,359 14,521,360 
Santander Consumer U.S.A. Holdings, Inc. (b) 185,300 3,189,013 
Shriram Transport Finance Co. Ltd. 369,861 3,546,564 
SLM Corp. 954,800 7,294,672 
Synchrony Financial 1,300,000 32,253,000 
  300,693,747 
Diversified Financial Services - 0.7%   
Berkshire Hathaway, Inc.:   
Class A (a) 655,120 
Class B (a) 1,094,000 238,535,760 
Fuyo General Lease Co. Ltd. 92,300 5,568,588 
Ricoh Leasing Co. Ltd. 114,000 2,916,867 
Voya Financial, Inc. 463,410 24,055,613 
  271,731,948 
Insurance - 1.2%   
AFLAC, Inc. 850,000 30,872,000 
Allstate Corp. 99,900 9,290,700 
American International Group, Inc. 755,171 22,005,683 
ASR Nederland NV 92,500 3,206,681 
Assurant, Inc. 259,788 31,579,829 
Axis Capital Holdings Ltd. 490,800 23,440,608 
Brown & Brown, Inc. 471,082 21,858,205 
BRP Group, Inc. (a) 441,200 12,137,412 
Chubb Ltd. 418,900 52,362,500 
Db Insurance Co. Ltd. 280,000 10,292,167 
Fairfax Financial Holdings Ltd. (sub. vtg.) 15,400 4,747,335 
First American Financial Corp. 471,600 24,792,012 
Genworth Financial, Inc. Class A (a) 324,100 978,782 
Globe Life, Inc. 153,100 12,627,688 
Hartford Financial Services Group, Inc. 322,300 13,037,035 
Hyundai Fire & Marine Insurance Co. Ltd. 212,600 3,956,581 
Lincoln National Corp. 56,000 2,018,800 
Marsh & McLennan Companies, Inc. 160,100 18,397,091 
MetLife, Inc. 1,484,500 57,093,870 
NN Group NV 150,203 5,655,172 
Prudential Financial, Inc. 69,200 4,689,684 
Sul America SA unit 10,000 78,817 
The Travelers Companies, Inc. 799,100 92,727,564 
Willis Towers Watson PLC 115,000 23,635,950 
  481,482,166 
Mortgage Real Estate Investment Trusts - 0.0%   
AGNC Investment Corp. 496,700 7,008,437 
Redwood Trust, Inc. 67,500 467,775 
  7,476,212 
Thrifts & Mortgage Finance - 0.2%   
ASAX Co. Ltd. 188,500 1,233,352 
Essent Group Ltd. 1,028,225 36,707,633 
Genworth Mortgage Insurance Ltd. 232,786 259,254 
MGIC Investment Corp. 4,459,900 40,897,283 
Radian Group, Inc. 646,500 9,981,960 
  89,079,482 
TOTAL FINANCIALS  2,412,633,104 
HEALTH CARE - 7.2%   
Biotechnology - 1.4%   
AbbVie, Inc. 97,700 9,356,729 
ADC Therapeutics SA (a)(b) 180,100 7,955,017 
Alexion Pharmaceuticals, Inc. (a) 641,000 73,215,020 
Alnylam Pharmaceuticals, Inc. (a) 102,600 13,608,864 
Amgen, Inc. 298,500 75,616,020 
Arcutis Biotherapeutics, Inc. (a)(b) 100,000 2,507,000 
Argenx SE ADR (a) 66,000 15,263,820 
Ascendis Pharma A/S sponsored ADR (a) 100,000 14,818,000 
Aurinia Pharmaceuticals, Inc. (a) 973,200 14,432,556 
Blueprint Medicines Corp. (a) 386,798 29,949,769 
Cell Biotech Co. Ltd. 75,959 1,023,443 
Crinetics Pharmaceuticals, Inc. (a) 69,800 1,118,894 
Essex Bio-Technology Ltd. 241,000 148,953 
Exelixis, Inc. (a) 190,000 4,221,800 
Generation Bio Co. 120,000 3,747,600 
Gilead Sciences, Inc. 325,000 21,693,750 
Global Blood Therapeutics, Inc. (a) 386,424 24,259,699 
Gritstone Oncology, Inc. (a)(b) 310,600 1,028,086 
Heron Therapeutics, Inc. (a) 29,900 427,570 
Innovent Biologics, Inc. (a)(d) 750,000 4,983,001 
Insmed, Inc. (a) 245,455 6,919,376 
Intercept Pharmaceuticals, Inc. (a) 134,375 6,702,625 
Kymera Therapeutics, Inc. (a) 27,900 890,010 
Neurocrine Biosciences, Inc. (a) 100,000 11,642,000 
PTC Therapeutics, Inc. (a) 603,200 29,813,160 
Regeneron Pharmaceuticals, Inc. (a) 138,700 85,984,291 
Revolution Medicines, Inc. 120,000 3,400,800 
Sarepta Therapeutics, Inc. (a) 257,792 37,745,905 
Seattle Genetics, Inc. (a) 91,700 14,519,778 
Turning Point Therapeutics, Inc. (a) 287,239 22,456,345 
United Therapeutics Corp. (a) 93,800 10,032,848 
Vaxcyte, Inc. 192,600 8,720,928 
Vertex Pharmaceuticals, Inc. (a) 70,000 19,538,400 
Xencor, Inc. (a) 118,000 4,218,500 
Zymeworks, Inc. (a) 112,620 3,651,140 
  585,611,697 
Health Care Equipment & Supplies - 1.0%   
A&T Corp. (b) 21,000 276,788 
Atricure, Inc. (a) 437,100 19,551,483 
Becton, Dickinson & Co. 269,700 65,475,069 
Boston Scientific Corp. (a) 1,572,921 64,521,219 
Danaher Corp. 240,000 49,552,800 
DexCom, Inc. (a) 10,000 4,254,100 
Fukuda Denshi Co. Ltd. 81,400 5,756,371 
Genmark Diagnostics, Inc. (a) 600,000 7,782,000 
Hologic, Inc. (a) 559,800 33,431,256 
InBody Co. Ltd. 50,000 673,681 
Insulet Corp. (a) 92,200 20,122,650 
Intuitive Surgical, Inc. (a) 25,000 18,271,000 
Masimo Corp. (a) 46,000 10,304,000 
Meridian Bioscience, Inc. (a) 15,000 212,100 
Nanosonics Ltd. (a) 750,000 3,352,165 
Penumbra, Inc. (a) 101,700 21,270,555 
STERIS PLC 136,349 21,766,754 
Tandem Diabetes Care, Inc. (a) 368,900 41,582,408 
Value Added Technology Co. Ltd. 5,000 90,105 
Vieworks Co. Ltd. 37,454 1,029,784 
  389,276,288 
Health Care Providers & Services - 2.7%   
1Life Healthcare, Inc. (a) 200,000 5,834,000 
AmerisourceBergen Corp. 48,800 4,735,064 
Anthem, Inc. 453,500 127,669,320 
Cardinal Health, Inc. 463,100 23,506,956 
Centene Corp. (a) 1,886,000 115,649,520 
Cigna Corp. 1,089,507 193,245,857 
Covetrus, Inc. (a) 165,800 3,798,478 
CVS Health Corp. 1,899,912 118,022,533 
Humana, Inc. 166,600 69,167,322 
Laboratory Corp. of America Holdings (a) 80,000 14,060,000 
LHC Group, Inc. (a) 187,200 39,019,968 
McKesson Corp. 292,790 44,925,698 
MEDNAX, Inc. (a) 125,000 2,322,500 
Molina Healthcare, Inc. (a) 182,100 33,683,037 
Ontrak, Inc. (a)(b) 31,500 2,297,925 
Patterson Companies, Inc. 101,000 2,930,010 
Quest Diagnostics, Inc. 3,700 411,588 
Tokai Corp. 144,600 2,868,381 
UnitedHealth Group, Inc. 813,600 254,290,680 
Universal Health Services, Inc. Class B 250,000 27,587,500 
  1,086,026,337 
Health Care Technology - 0.1%   
Inspire Medical Systems, Inc. (a) 72,100 8,612,345 
Phreesia, Inc. (a) 599,000 18,892,460 
  27,504,805 
Life Sciences Tools & Services - 0.2%   
10X Genomics, Inc. (a) 67,000 7,679,540 
Bio-Rad Laboratories, Inc. Class A (a) 78,516 39,932,452 
Bruker Corp. 609,400 25,606,988 
ICON PLC (a) 5,200 969,332 
Lonza Group AG 18,000 11,185,440 
  85,373,752 
Pharmaceuticals - 1.8%   
AstraZeneca PLC (United Kingdom) 420,000 46,620,108 
Bayer AG 865,082 57,538,374 
Bristol-Myers Squibb Co. 3,004,600 186,886,120 
Bristol-Myers Squibb Co. rights (a) 727,000 1,948,360 
Daito Pharmaceutical Co. Ltd. 17,200 560,261 
Dawnrays Pharmaceutical Holdings Ltd. 8,622,000 1,031,694 
Elanco Animal Health, Inc. (a) 92,100 2,676,426 
Eli Lilly & Co. 350,000 51,936,500 
Genomma Lab Internacional SA de CV (a) 1,300,000 1,364,044 
GlaxoSmithKline PLC sponsored ADR 1,391,758 55,113,617 
Jazz Pharmaceuticals PLC (a) 64,800 8,708,472 
Johnson & Johnson 464,785 71,302,667 
Korea United Pharm, Inc. 100,000 4,197,877 
Mylan NV (a) 175,000 2,866,500 
MyoKardia, Inc. (a) 78,000 8,536,320 
Nektar Therapeutics (a)(b) 194,000 3,751,960 
Nippon Chemiphar Co. Ltd. 10,400 244,302 
Pliant Therapeutics, Inc. (b) 177,100 4,454,065 
Roche Holding AG (participation certificate) 329,686 115,330,438 
Royalty Pharma PLC 178,000 7,365,640 
Sanofi SA 300,000 30,386,622 
Sanofi SA sponsored ADR 1,065,100 53,872,758 
Taro Pharmaceutical Industries Ltd. (a) 11,200 685,552 
Theravance Biopharma, Inc. (a) 180,000 3,299,400 
UCB SA 47,000 5,581,823 
  726,259,900 
TOTAL HEALTH CARE  2,900,052,779 
INDUSTRIALS - 5.3%   
Aerospace & Defense - 0.6%   
Airbus Group NV 339,900 27,952,557 
Axon Enterprise, Inc. (a) 74,132 6,351,630 
General Dynamics Corp. 328,323 49,035,040 
HEICO Corp. Class A 250,646 22,402,739 
Huntington Ingalls Industries, Inc. 173,000 26,212,960 
Lockheed Martin Corp. 139,200 54,324,192 
Raytheon Technologies Corp. 406,469 24,794,609 
Safran SA (a) 25,500 2,944,854 
The Boeing Co. 79,100 13,590,962 
Vectrus, Inc. (a) 5,000 217,050 
  227,826,593 
Air Freight & Logistics - 0.4%   
Deutsche Post AG 253,900 11,550,039 
FedEx Corp. 150,230 33,026,563 
Onelogix Group Ltd. 488,862 62,004 
United Parcel Service, Inc. Class B 551,506 90,237,412 
XPO Logistics, Inc. (a) 136,300 12,031,201 
  146,907,219 
Airlines - 0.1%   
Alaska Air Group, Inc. 402,500 15,677,375 
Copa Holdings SA Class A 247,700 13,190,025 
Hawaiian Holdings, Inc. 2,000 26,880 
Ryanair Holdings PLC sponsored ADR (a) 45,100 3,648,590 
  32,542,870 
Building Products - 0.6%   
Apogee Enterprises, Inc. 5,000 104,650 
Carrier Global Corp. 326,720 9,752,592 
Fortune Brands Home & Security, Inc. 1,315,629 110,618,086 
Jeld-Wen Holding, Inc. (a) 307,300 6,468,665 
Johnson Controls International PLC 131,100 5,339,703 
KVK Corp. 5,500 82,826 
Nihon Dengi Co. Ltd. 103,900 3,482,462 
Owens Corning 550,400 37,229,056 
Trane Technologies PLC 731,800 86,637,802 
  259,715,842 
Commercial Services & Supplies - 0.0%   
IAA Spinco, Inc. (a) 49,900 2,610,768 
Nippon Kanzai Co. Ltd. 28,300 532,520 
Steelcase, Inc. Class A 130,800 1,366,860 
VSE Corp. 1,000 29,030 
  4,539,178 
Construction & Engineering - 0.0%   
Arcadis NV 44,800 1,029,145 
Boustead Projs. Pte Ltd. 2,180,500 1,274,115 
Joban Kaihatsu Co. Ltd. 1,400 72,700 
Kawasaki Setsubi Kogyo Co. Ltd. 23,200 114,122 
Meisei Industrial Co. Ltd. 425,200 3,163,457 
Raiznext Corp. 450,800 5,652,291 
Seikitokyu Kogyo Co. Ltd. 72,400 589,235 
Watanabe Sato Co. Ltd. 4,100 82,840 
  11,977,905 
Electrical Equipment - 0.8%   
Acuity Brands, Inc. 362,900 39,661,341 
Aichi Electric Co. Ltd. (b) 231,450 4,982,354 
AMETEK, Inc. 705,400 71,033,780 
Eaton Corp. PLC 16,800 1,715,280 
Emerson Electric Co. 506,400 35,179,608 
Gerard Perrier Industrie SA (b) 5,000 379,485 
Hubbell, Inc. Class B 63,400 9,187,928 
Iwabuchi Corp. 1,600 88,675 
Regal Beloit Corp. 291,900 28,857,234 
Sensata Technologies, Inc. PLC (a) 28,000 1,165,920 
Sunrun, Inc. (a) 442,900 25,048,210 
Terasaki Electric Co. Ltd. 33,600 337,539 
Vertiv Holdings Co. (a) 649,900 10,547,877 
Vertiv Holdings LLC (e) 600,000 9,738,000 
Vestas Wind Systems A/S 283,700 43,135,008 
Vivint Solar, Inc. (a) 1,080,100 33,353,488 
  314,411,727 
Industrial Conglomerates - 0.8%   
3M Co. 68,500 11,166,870 
Carlisle Companies, Inc. 240,720 31,522,284 
General Electric Co. 24,448,208 155,001,639 
Mytilineos SA 239,500 2,255,020 
Reunert Ltd. 56,900 104,729 
Roper Technologies, Inc. 157,900 67,453,301 
Siemens AG 308,200 42,705,925 
  310,209,768 
Machinery - 0.9%   
Caterpillar, Inc. 15,000 2,134,650 
Colfax Corp. (a) 854,200 28,427,776 
Conrad Industries, Inc. (a) 5,400 63,720 
Crane Co. 1,000 56,540 
Cummins, Inc. 28,300 5,865,175 
Flowserve Corp. 821,127 24,371,049 
Fortive Corp. 1,004,400 72,427,284 
Fukushima Industries Corp. 4,100 129,486 
Haitian International Holdings Ltd. 1,290,000 3,120,863 
Hy-Lok Corp. 14,316 141,652 
IDEX Corp. 272,527 49,117,541 
Ingersoll Rand, Inc. (a) 330,562 11,589,504 
ITT, Inc. 476,600 29,935,246 
Koike Sanso Kogyo Co. Ltd. 2,200 48,605 
Nakanishi Manufacturing Co. Ltd. 20,000 179,767 
Nansin Co. Ltd. 32,900 159,662 
Oshkosh Corp. 443,200 34,130,832 
Otis Worldwide Corp. 654,684 41,179,624 
Sakura Rubber Co. Ltd. 20,800 860,161 
Stanley Black & Decker, Inc. 287,500 46,373,750 
The Hanshin Diesel Works Ltd. 4,500 83,657 
Westinghouse Air Brake Co. 160,062 10,652,126 
Yamada Corp. 19,700 424,076 
  361,472,746 
Marine - 0.0%   
Japan Transcity Corp. 280,300 1,317,938 
Professional Services - 0.0%   
ABIST Co. Ltd. 26,000 733,003 
Bertrandt AG 18,100 738,708 
Career Design Center Co. Ltd. 22,100 180,906 
Dun & Bradstreet Holdings, Inc. (a) 147,100 3,730,456 
McMillan Shakespeare Ltd. 46,017 313,944 
Outsourcing, Inc. 100,000 829,911 
Robert Half International, Inc. 5,000 266,000 
SaraminHR Co. Ltd. 7,000 131,747 
SHL-JAPAN Ltd. 34,800 757,015 
  7,681,690 
Road & Rail - 0.7%   
Autohellas SA 51,600 216,443 
CSX Corp. 864,700 66,114,962 
Daqin Railway Co. Ltd. (A Shares) 2,952,141 2,853,664 
J.B. Hunt Transport Services, Inc. 69,100 9,711,314 
Knight-Swift Transportation Holdings, Inc. Class A 563,100 25,598,526 
Landstar System, Inc. 292,720 38,958,105 
Lyft, Inc. (a) 849,083 25,192,293 
Meitetsu Transport Co. Ltd. 5,000 98,900 
NANSO Transport Co. Ltd. 46,700 491,625 
Nikkon Holdings Co. Ltd. 47,600 1,051,636 
Old Dominion Freight Lines, Inc. 380,409 76,911,092 
Ryder System, Inc. 191,800 7,844,620 
Schneider National, Inc. Class B 1,076,200 29,121,972 
STEF-TFE Group (a) 3,933 314,461 
Tohbu Network Co. Ltd. 42,500 355,922 
Uber Technologies, Inc. (a) 70,872 2,383,425 
Utoc Corp. 136,300 603,547 
  287,822,507 
Trading Companies & Distributors - 0.4%   
AerCap Holdings NV (a) 88,600 2,619,902 
Air Lease Corp. Class A 861,100 26,762,988 
Beacon Roofing Supply, Inc. (a) 129,300 4,381,977 
Beijer Ref AB (B Shares) 28,900 1,149,344 
Canox Corp. 81,539 477,309 
Daiichi Jitsugyo Co. Ltd. 5,900 201,374 
Green Cross Co. Ltd. 81,100 724,360 
HD Supply Holdings, Inc. (a) 1,318,080 52,275,053 
Howden Joinery Group PLC 26,900 202,087 
Itochu Corp. 1,926,200 49,530,338 
Kamei Corp. 229,200 2,142,359 
Mitani Shoji Co. Ltd. 56,600 3,526,979 
Mitsubishi Corp. 447,900 10,625,018 
MSC Industrial Direct Co., Inc. Class A 5,000 329,500 
Narasaki Sangyo Co. Ltd. 9,600 166,050 
Nishikawa Keisoku Co. Ltd. 5,800 219,044 
Pla Matels Corp. 49,800 263,776 
Sam Yung Trading Co. Ltd. 2,000 21,979 
Shinsho Corp. 90,900 1,523,368 
United Rentals, Inc. (a) 68,200 12,074,810 
  169,217,615 
Transportation Infrastructure - 0.0%   
Isewan Terminal Service Co. Ltd. 200,400 1,464,472 
Qingdao Port International Co. Ltd. (H Shares) (d) 4,884,814 2,979,999 
  4,444,471 
TOTAL INDUSTRIALS  2,140,088,069 
INFORMATION TECHNOLOGY - 8.7%   
Communications Equipment - 0.3%   
Cisco Systems, Inc. 1,908,000 80,555,760 
CommScope Holding Co., Inc. (a) 414,600 4,270,380 
Ericsson (B Shares) sponsored ADR (b) 797,048 9,285,609 
F5 Networks, Inc. (a) 225,000 29,774,250 
Juniper Networks, Inc. 50,000 1,250,000 
Lumentum Holdings, Inc. (a) 2,400 206,400 
  125,342,399 
Electronic Equipment & Components - 0.7%   
Ai Holdings Corp. 5,000 83,746 
Avnet, Inc. 841,000 23,135,910 
Cognex Corp. 290,900 20,127,371 
Corning, Inc. 193,300 6,274,518 
Daido Signal Co. Ltd. 121,200 698,031 
Elematec Corp. 159,000 1,387,112 
FLEXium Interconnect, Inc. 101,316 434,492 
Flextronics International Ltd. (a) 3,268,893 35,500,178 
HAGIAWARA ELECTRIC Co. Ltd. 31,080 561,943 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 600,000 1,570,403 
II-VI, Inc. (a) 163,923 7,294,574 
Insight Enterprises, Inc. (a) 96,948 5,797,975 
Jabil, Inc. 1,944,897 66,418,233 
Kingboard Chemical Holdings Ltd. 1,498,800 4,818,055 
Makus, Inc. (f) 954,684 3,187,626 
Methode Electronics, Inc. Class A 15,000 424,650 
New Cosmos Electric Co. Ltd. 8,900 149,573 
PAX Global Technology Ltd. 6,756,000 3,883,744 
Redington India Ltd. 517,144 760,999 
Riken Kieki Co. Ltd. 102,000 2,462,484 
ScanSource, Inc. (a) 119,631 2,953,689 
Solid State PLC 5,000 42,575 
TE Connectivity Ltd. 485,600 46,908,960 
Thinking Electronic Industries Co. Ltd. 250,000 927,470 
Trimble, Inc. (a) 562,300 29,470,143 
  265,274,454 
IT Services - 1.6%   
Amdocs Ltd. 568,200 34,790,886 
Avant Corp. 300,000 2,937,261 
Capgemini SA 249,800 34,579,464 
Cielo SA 600,000 499,407 
Cognizant Technology Solutions Corp. Class A 673,300 45,016,838 
Data Applications Co. Ltd. 11,000 132,625 
DXC Technology Co. 93,312 1,864,374 
E-Credible Co. Ltd. 125,000 2,521,042 
Enea Data AB (a) 67,600 1,547,412 
FDM Group Holdings PLC 5,000 69,778 
Fidelity National Information Services, Inc. 474,190 71,531,562 
Fiserv, Inc. (a) 71,200 7,090,096 
Future Corp. 30,200 547,743 
Gartner, Inc. (a) 241,000 31,286,620 
Genpact Ltd. 909,493 38,362,415 
Global Payments, Inc. 69,932 12,351,390 
GoDaddy, Inc. (a) 449,804 37,639,599 
Hexaware Technologies Ltd. 200,000 1,082,225 
IBM Corp. 53,400 6,584,754 
IFIS Japan Ltd. 2,800 19,959 
Korea Information & Communication Co. Ltd. (a) 162,407 1,260,957 
MasterCard, Inc. Class A 247,100 88,508,749 
PayPal Holdings, Inc. (a) 307,438 62,760,393 
Sabre Corp. 478,000 3,341,220 
Tech Mahindra Ltd. 50,000 505,757 
Tessi SA (a) 107 11,747 
The Western Union Co. 26,000 613,340 
Twilio, Inc. Class A (a) 39,399 10,628,274 
Unisys Corp. (a) 422,500 4,926,350 
Visa, Inc. Class A 525,357 111,370,430 
WEX, Inc. (a) 149,900 23,940,529 
Worldline SA (a)(d) 70,600 6,488,974 
  644,812,170 
Semiconductors & Semiconductor Equipment - 1.1%   
Advanced Micro Devices, Inc. (a) 287,795 26,137,542 
Analog Devices, Inc. 39,100 4,570,008 
Applied Materials, Inc. 128,000 7,884,800 
Broadcom, Inc. 10,300 3,575,645 
Cirrus Logic, Inc. (a) 377,895 22,896,658 
Intel Corp. 69,800 3,556,310 
Lam Research Corp. 12,800 4,305,152 
Marvell Technology Group Ltd. 752,011 29,162,987 
MediaTek, Inc. 318,000 6,017,767 
Microchip Technology, Inc. 500 54,850 
Micron Technology, Inc. (a) 468,750 21,332,813 
Miraial Co. Ltd. 51,000 481,037 
NVIDIA Corp. 163,909 87,688,037 
NXP Semiconductors NV 474,042 59,615,522 
ON Semiconductor Corp. (a) 827,011 17,673,225 
Phison Electronics Corp. 300,000 2,828,358 
Qualcomm, Inc. 989,216 117,815,626 
Sanken Electric Co. Ltd. 94,689 1,956,986 
Semtech Corp. (a) 29,011 1,701,495 
Sitronix Technology Corp. 100,000 490,113 
Skyworks Solutions, Inc. 168,611 24,423,303 
STMicroelectronics NV (France) 205,100 6,203,262 
Systems Technology, Inc. 25,000 341,051 
Topco Scientific Co. Ltd. 100,000 408,427 
Universal Display Corp. 4,700 824,850 
Xilinx, Inc. 52,971 5,517,459 
  457,463,283 
Software - 3.7%   
Adobe, Inc. (a) 71,679 36,799,282 
Asiainfo Technologies Ltd. (d) 56,000 82,146 
Autodesk, Inc. (a) 165,961 40,776,618 
Blackbaud, Inc. 359,400 22,947,690 
Box, Inc. Class A (a) 499,800 9,811,074 
CENIT AG (a) 10,000 134,849 
Citrix Systems, Inc. 15,670 2,275,284 
Cloudflare, Inc. (a) 383,129 14,658,516 
Cresco Ltd. 50,000 598,121 
Cyient Ltd. 1,000,000 5,300,554 
Dynatrace, Inc. 124,900 5,524,327 
Elastic NV (a) 425,986 46,253,560 
Encourage Technologies Co. Ltd. 5,900 44,620 
Envestnet, Inc. (a) 100 8,299 
HubSpot, Inc. (a) 88,200 26,431,776 
LivePerson, Inc. (a) 370,106 22,080,524 
Microsoft Corp. 3,177,408 716,600,826 
Nortonlifelock, Inc. 2,818,183 66,283,664 
Nuance Communications, Inc. (a) 342,700 10,267,292 
Nucleus Software Exports Ltd. (a) 16,048 107,200 
Nutanix, Inc. Class A (a) 35,800 1,027,818 
Oracle Corp. 381,178 21,811,005 
Parametric Technology Corp. (a) 439,800 40,202,118 
Pluralsight, Inc. (a) 1,464,100 28,022,874 
Proofpoint, Inc. (a) 260,820 28,604,129 
Rapid7, Inc. (a) 198,600 12,823,602 
RealPage, Inc. (a) 554,500 34,722,790 
RingCentral, Inc. (a) 12,495 3,633,171 
Salesforce.com, Inc. (a) 276,270 75,325,016 
SAP SE sponsored ADR (b) 328,656 54,362,989 
Sinosoft Tech Group Ltd. (a) 10,935,000 2,211,615 
SS&C Technologies Holdings, Inc. 147,195 9,379,265 
SurveyMonkey (a) 776,600 19,329,574 
System Research Co. Ltd. 37,400 607,708 
Tenable Holdings, Inc. (a) 843,000 31,730,520 
Toho System Science Co. Ltd. (b) 12,100 108,073 
Workday, Inc. Class A (a) 118,578 28,424,332 
Workiva, Inc. (a) 310,593 18,324,987 
Yext, Inc. (a) 534,611 10,617,374 
Zendesk, Inc. (a) 208,767 20,120,963 
Zensar Technologies Ltd. 25,000 58,800 
  1,468,434,945 
Technology Hardware, Storage & Peripherals - 1.3%   
Apple, Inc. 3,580,060 461,970,942 
Dell Technologies, Inc. (a) 10,000 660,800 
Elecom Co. Ltd. 50,000 2,261,247 
HP, Inc. 1,548,898 30,280,956 
MCJ Co. Ltd. 157,600 1,403,170 
NetApp, Inc. 140,000 6,634,600 
Samsung Electronics Co. Ltd. 65,920 2,997,613 
Seagate Technology LLC 200,000 9,598,000 
TSC Auto ID Technology Corp. 13,000 80,086 
Western Digital Corp. 459,621 17,658,639 
Xerox Holdings Corp. 56,056 1,057,216 
  534,603,269 
TOTAL INFORMATION TECHNOLOGY  3,495,930,520 
MATERIALS - 1.4%   
Chemicals - 0.5%   
Albemarle Corp. U.S. 196,300 17,865,263 
Amyris, Inc. (a)(b) 1,183,843 3,883,005 
Balchem Corp. 176,300 17,224,510 
C. Uyemura & Co. Ltd. 74,000 5,191,144 
Cabot Corp. 7,400 273,874 
CF Industries Holdings, Inc. 30,000 978,900 
DuPont de Nemours, Inc. 1,697,700 94,663,752 
Ecolab, Inc. 22,826 4,498,548 
Innospec, Inc. 174,911 13,064,103 
Isamu Paint Co. Ltd. 2,600 69,962 
KPC Holdings Corp. 7,154 247,904 
Linde PLC 63,900 15,958,386 
Livent Corp. (a) 1,675,514 14,208,359 
LyondellBasell Industries NV Class A 152,800 10,005,344 
NOF Corp. 21,600 876,930 
Nutrien Ltd. 170,000 6,296,393 
PPG Industries, Inc. 52,900 6,369,160 
Scientex Bhd 590,400 1,332,315 
Toho Acetylene Co. Ltd. 92,650 1,123,189 
Yara International ASA 50,300 2,107,421 
Yip's Chemical Holdings Ltd. 450,000 144,913 
  216,383,375 
Construction Materials - 0.2%   
Kunimine Industries Co. Ltd. 5,000 45,603 
Mitani Sekisan Co. Ltd. 16,400 902,724 
Summit Materials, Inc. (a) 2,874,800 42,805,772 
Vulcan Materials Co. 164,200 19,704,000 
  63,458,099 
Containers & Packaging - 0.1%   
Crown Holdings, Inc. (a) 614,230 47,203,576 
Mayr-Melnhof Karton AG 11,200 1,919,289 
Packaging Corp. of America 15,000 1,518,600 
Silgan Holdings, Inc. 18,100 688,886 
  51,330,351 
Metals & Mining - 0.6%   
ArcelorMittal SA Class A unit (a) 101,800 1,278,608 
BHP Billiton Ltd. sponsored ADR (b) 390,010 21,473,951 
Chubu Steel Plate Co. Ltd. 169,800 1,179,935 
CI Resources Ltd. 136,202 85,387 
CK-SAN-ETSU Co. Ltd. 38,800 1,223,547 
Commercial Metals Co. 881,100 18,388,557 
Compania de Minas Buenaventura SA sponsored ADR 168,400 2,371,072 
First Quantum Minerals Ltd. 1,791,600 17,732,630 
Freeport-McMoRan, Inc. 877,391 13,696,074 
Labrador Iron Ore Royalty Corp. 4,700 98,695 
Lundin Mining Corp. 6,090,100 38,146,293 
Mount Gibson Iron Ltd. 4,478,894 2,593,176 
Newmont Corp. 1,520,100 102,272,328 
Pacific Metals Co. Ltd. (b) 58,300 1,003,455 
Perenti Global Ltd. 2,508,411 2,229,345 
Rio Tinto PLC sponsored ADR 7,800 477,594 
Royal Gold, Inc. 188,300 25,669,056 
St Barbara Ltd. 500,000 1,272,274 
Teck Resources Ltd. Class B (sub. vtg.) 97,400 1,123,085 
  252,315,062 
TOTAL MATERIALS  583,486,887 
REAL ESTATE - 1.2%   
Equity Real Estate Investment Trusts (REITs) - 1.0%   
Alexandria Real Estate Equities, Inc. 33,700 5,674,406 
American Homes 4 Rent Class A 112,100 3,210,544 
American Tower Corp. 176,817 44,053,956 
Apartment Investment & Management Co. Class A 620,300 22,349,409 
CoreSite Realty Corp. 229,642 28,119,663 
Corporate Office Properties Trust (SBI) 340,400 8,387,456 
CubeSmart 168,100 5,315,322 
CyrusOne, Inc. 291,700 24,365,701 
Digital Realty Trust, Inc. 85,500 13,308,075 
Douglas Emmett, Inc. 100,500 2,805,960 
Empire State Realty Trust, Inc. 1,576,926 9,934,634 
Equinix, Inc. 27,600 21,797,928 
Equity Lifestyle Properties, Inc. 86,500 5,734,085 
Healthcare Trust of America, Inc. 884,760 23,348,816 
Highwoods Properties, Inc. (SBI) 98,200 3,658,932 
Lexington Corporate Properties Trust 71,700 815,229 
Medical Properties Trust, Inc. 1,780,130 33,074,815 
Outfront Media, Inc. 1,149,940 19,468,484 
Potlatch Corp. 431,193 19,852,126 
Prologis (REIT), Inc. 235,400 23,977,844 
SBA Communications Corp. Class A 51,400 15,731,998 
Simon Property Group, Inc. 247,000 16,758,950 
Ventas, Inc. 54,100 2,229,461 
VICI Properties, Inc. 117,200 2,618,248 
Vornado Realty Trust 297,700 10,666,591 
Weingarten Realty Investors (SBI) 956,000 16,701,320 
Weyerhaeuser Co. 698,900 21,183,659 
  405,143,612 
Real Estate Management & Development - 0.2%   
Arealink Co. Ltd. 25,000 236,038 
CBRE Group, Inc. (a) 1,120,600 52,701,818 
Cushman & Wakefield PLC (a) 613,900 7,127,379 
Howard Hughes Corp. (a) 217,600 12,862,336 
KE Holdings, Inc. ADR (a)(b) 247,500 12,694,275 
Nisshin Group Holdings Co. 64,700 246,790 
  85,868,636 
TOTAL REAL ESTATE  491,012,248 
UTILITIES - 1.2%   
Electric Utilities - 0.9%   
American Electric Power Co., Inc. 143,800 11,335,754 
Duke Energy Corp. 223,400 17,947,956 
Edison International 207,100 10,868,608 
Entergy Corp. 170,600 16,913,284 
Evergy, Inc. 412,184 21,936,432 
Exelon Corp. 1,382,266 51,019,438 
FirstEnergy Corp. 267,600 7,650,684 
NextEra Energy, Inc. 109,100 30,457,447 
PG&E Corp. (e) 900,246 7,919,464 
PG&E Corp. (a) 2,772,600 25,674,276 
PNM Resources, Inc. 800,500 34,965,840 
PPL Corp. 1,501,300 41,480,919 
Southern Co. 1,367,500 71,356,150 
  349,526,252 
Gas Utilities - 0.0%   
Busan City Gas Co. Ltd. 60,816 2,606,755 
China Resource Gas Group Ltd. 764,000 3,583,692 
Enagas SA 56,000 1,369,298 
Hokuriku Gas Co. 6,200 182,344 
Keiyo Gas Co. Ltd. 3,000 90,072 
Seoul City Gas Co. Ltd. 13,199 754,702 
South Jersey Industries, Inc. 661,500 14,652,225 
YESCO Co. Ltd. 25,028 739,772 
  23,978,860 
Independent Power and Renewable Electricity Producers - 0.0%   
NextEra Energy Partners LP (b) 42,000 2,533,440 
The AES Corp. 504,700 8,958,425 
  11,491,865 
Multi-Utilities - 0.3%   
CenterPoint Energy, Inc. 582,044 11,681,623 
Dominion Energy, Inc. 704,117 55,230,937 
MDU Resources Group, Inc. 1,101,100 26,007,982 
Sempra Energy 97,900 12,105,335 
  105,025,877 
TOTAL UTILITIES  490,022,854 
TOTAL COMMON STOCKS   
(Cost $15,121,001,198)  17,664,531,774 
Nonconvertible Preferred Stocks - 0.1%   
INFORMATION TECHNOLOGY - 0.1%   
Technology Hardware, Storage & Peripherals - 0.1%   
Samsung Electronics Co. Ltd. 1,200,640 48,025,398 
UTILITIES - 0.0%   
Electric Utilities - 0.0%   
Companhia Paranaense de Energia-Copel (PN-B) 40,600 457,838 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $49,179,907)  48,483,236 
Equity Funds - 55.3%   
Large Blend Funds - 4.1%   
Fidelity SAI U.S. Large Cap Index Fund (g) 51,497,390 975,875,537 
Fidelity SAI U.S. Low Volatility Index Fund (g) 42,548,983 670,146,484 
TOTAL LARGE BLEND FUNDS  1,646,022,021 
Large Growth Funds - 37.3%   
Fidelity Contrafund (g) 163,526,096 2,866,612,458 
Fidelity Growth Company Fund (g) 133,552,067 4,304,383,131 
Fidelity Magellan Fund (g) 162,858,223 2,052,013,610 
Fidelity SAI U.S. Momentum Index Fund (g) 61,439,029 1,059,823,242 
Fidelity SAI U.S. Quality Index Fund (g) 275,653,627 4,771,564,278 
TOTAL LARGE GROWTH FUNDS  15,054,396,719 
Large Value Funds - 9.2%   
Fidelity Large Cap Value Enhanced Index Fund (g) 180,590,509 2,280,858,129 
Fidelity SAI U.S. Value Index Fund (g) 157,046,403 1,438,545,052 
TOTAL LARGE VALUE FUNDS  3,719,403,181 
Small Blend Funds - 4.0%   
Fidelity Small Cap Discovery Fund (g) 12,932,562 266,798,755 
Fidelity Small Cap Index Fund (g) 67,062,539 1,330,520,768 
TOTAL SMALL BLEND FUNDS  1,597,319,523 
Small Growth Funds - 0.7%   
Fidelity Small Cap Growth Fund (g) 8,723,036 262,301,703 
TOTAL EQUITY FUNDS   
(Cost $17,822,333,387)  22,279,443,147 
Other - 0.0%   
Commodity Funds - Broad Basket - 0.0%   
Fidelity SAI Inflation-Focused Fund (g)   
(Cost $6,500,000) 831,202 8,320,332 
Money Market Funds - 1.1%   
Fidelity Cash Central Fund 0.12% (h) 282,564,076 282,620,589 
Fidelity Securities Lending Cash Central Fund 0.11% (h)(i) 137,027,421 137,041,124 
TOTAL MONEY MARKET FUNDS   
(Cost $419,657,951)  419,661,713 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $33,418,672,443)  40,420,440,202 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (111,982,716) 
NET ASSETS - 100%  $40,308,457,486 

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $23,048,801 or 0.1% of net assets.

 (e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $17,657,464 or 0.0% of net assets.

 (f) Affiliated company

 (g) Affiliated Fund

 (h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (i) Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
PG&E Corp. 6/30/20 $8,552,337 
Vertiv Holdings LLC 2/6/20 $6,000,000 

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $102,547 
Fidelity Securities Lending Cash Central Fund 1,335,522 
Total $1,438,069 

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Contrafund $2,344,964,212 $-- $-- $-- $-- $521,648,246 $2,866,612,458 
Fidelity Growth Company Fund 3,188,414,591 100,000,000 -- -- -- 1,015,968,540 4,304,383,131 
Fidelity Large Cap Value Enhanced Index Fund 1,962,505,180 150,000,000 -- -- -- 168,352,949 2,280,858,129 
Fidelity Magellan Fund 1,734,440,075 -- -- -- -- 317,573,535 2,052,013,610 
Fidelity SAI Inflation-Focused Fund 7,015,345 -- -- -- -- 1,304,987 8,320,332 
Fidelity SAI U.S. Large Cap Index Fund 2,085,384,411 1,592,120,415 3,022,816,625 -- 313,210,060 7,977,276 975,875,537 
Fidelity SAI U.S. Low Volatility Index Fund 615,258,296 -- -- -- -- 54,888,188 670,146,484 
Fidelity SAI U.S. Momentum Index Fund 654,081,230 250,000,000 -- -- -- 155,742,012 1,059,823,242 
Fidelity SAI U.S. Quality Index Fund 3,701,607,976 410,000,000 -- -- -- 659,956,302 4,771,564,278 
Fidelity SAI U.S. Value Index Fund 1,201,926,152 175,000,000 -- -- -- 61,618,900 1,438,545,052 
Fidelity Small Cap Discovery Fund 183,429,936 60,000,000 -- -- -- 23,368,819 266,798,755 
Fidelity Small Cap Growth Fund 173,905,565 60,000,000 -- -- -- 28,396,138 262,301,703 
Fidelity Small Cap Index Fund 962,441,329 242,231,906 -- 2,231,906 -- 125,847,533 1,330,520,768 
Total $18,815,374,298 $3,039,352,321 $3,022,816,625 $2,231,906 $313,210,060 $3,142,643,425 $22,287,763,479 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. 

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.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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