NPORT-EX 2 QTLY_6550_20230831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® SAI Sustainable Future Fund
August 31, 2023
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.
FSP-NPRT1-1023
1.9905635.101
Common Stocks - 95.7%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 7.2%
 
 
 
Diversified Telecommunication Services - 0.7%
 
 
 
Verizon Communications, Inc.
 
2,186
76,466
Entertainment - 0.5%
 
 
 
Netflix, Inc. (a)
 
112
48,572
Interactive Media & Services - 5.5%
 
 
 
Alphabet, Inc. Class C (a)
 
3,473
477,017
Meta Platforms, Inc. Class A (a)
 
305
90,246
 
 
 
567,263
Media - 0.5%
 
 
 
Comcast Corp. Class A
 
1,162
54,335
TOTAL COMMUNICATION SERVICES
 
 
746,636
CONSUMER DISCRETIONARY - 8.9%
 
 
 
Automobile Components - 0.7%
 
 
 
Aptiv PLC (a)
 
369
37,435
Lear Corp.
 
215
30,979
 
 
 
68,414
Broadline Retail - 2.9%
 
 
 
Amazon.com, Inc. (a)
 
2,195
302,932
Hotels, Restaurants & Leisure - 1.2%
 
 
 
Airbnb, Inc. Class A (a)
 
472
62,092
Marriott International, Inc. Class A
 
290
59,018
 
 
 
121,110
Household Durables - 0.2%
 
 
 
D.R. Horton, Inc.
 
202
24,042
Specialty Retail - 3.9%
 
 
 
Lowe's Companies, Inc.
 
475
109,478
The Home Depot, Inc.
 
444
146,653
TJX Companies, Inc.
 
1,525
141,032
 
 
 
397,163
TOTAL CONSUMER DISCRETIONARY
 
 
913,661
CONSUMER STAPLES - 3.3%
 
 
 
Beverages - 1.3%
 
 
 
Diageo PLC
 
1,012
41,444
The Coca-Cola Co.
 
1,499
89,685
 
 
 
131,129
Consumer Staples Distribution & Retail - 0.5%
 
 
 
Target Corp.
 
414
52,392
Household Products - 0.8%
 
 
 
Kimberly-Clark Corp.
 
180
23,189
The Clorox Co.
 
375
58,669
 
 
 
81,858
Personal Care Products - 0.7%
 
 
 
Kenvue, Inc.
 
1,668
38,447
L'Oreal SA
 
80
35,202
 
 
 
73,649
TOTAL CONSUMER STAPLES
 
 
339,028
ENERGY - 1.9%
 
 
 
Energy Equipment & Services - 0.7%
 
 
 
Baker Hughes Co. Class A
 
2,166
78,388
Oil, Gas & Consumable Fuels - 1.2%
 
 
 
Cheniere Energy, Inc.
 
338
55,162
Hess Corp.
 
419
64,736
 
 
 
119,898
TOTAL ENERGY
 
 
198,286
FINANCIALS - 13.0%
 
 
 
Banks - 1.2%
 
 
 
Bank of America Corp.
 
1,758
50,402
Huntington Bancshares, Inc.
 
1,114
12,354
JPMorgan Chase & Co.
 
458
67,019
 
 
 
129,775
Capital Markets - 4.0%
 
 
 
BlackRock, Inc. Class A
 
157
109,985
CME Group, Inc.
 
209
42,360
Deutsche Borse AG
 
177
31,422
Intercontinental Exchange, Inc.
 
753
88,846
Morgan Stanley
 
969
82,510
Raymond James Financial, Inc.
 
558
58,361
 
 
 
413,484
Consumer Finance - 0.9%
 
 
 
American Express Co.
 
577
91,160
Financial Services - 3.7%
 
 
 
Block, Inc. Class A (a)
 
632
36,435
MasterCard, Inc. Class A
 
407
167,944
Visa, Inc. Class A
 
637
156,498
Voya Financial, Inc.
 
269
18,744
 
 
 
379,621
Insurance - 3.2%
 
 
 
Arthur J. Gallagher & Co.
 
505
116,392
MetLife, Inc.
 
1,277
80,885
Progressive Corp.
 
481
64,199
The Travelers Companies, Inc.
 
400
64,492
 
 
 
325,968
TOTAL FINANCIALS
 
 
1,340,008
HEALTH CARE - 12.5%
 
 
 
Biotechnology - 2.1%
 
 
 
AbbVie, Inc.
 
260
38,210
Gilead Sciences, Inc.
 
876
66,996
Regeneron Pharmaceuticals, Inc. (a)
 
50
41,325
Vertex Pharmaceuticals, Inc. (a)
 
208
72,455
 
 
 
218,986
Health Care Equipment & Supplies - 1.3%
 
 
 
Boston Scientific Corp. (a)
 
1,301
70,176
GE Healthcare Holding LLC
 
117
8,243
Stryker Corp.
 
214
60,680
 
 
 
139,099
Health Care Providers & Services - 3.7%
 
 
 
Cigna Group
 
302
83,431
CVS Health Corp.
 
1,101
71,752
Humana, Inc.
 
149
68,783
UnitedHealth Group, Inc.
 
330
157,271
 
 
 
381,237
Life Sciences Tools & Services - 2.1%
 
 
 
Agilent Technologies, Inc.
 
713
86,323
Danaher Corp.
 
186
49,290
Mettler-Toledo International, Inc. (a)
 
27
32,764
Thermo Fisher Scientific, Inc.
 
78
43,454
 
 
 
211,831
Pharmaceuticals - 3.3%
 
 
 
AstraZeneca PLC sponsored ADR
 
387
26,246
Eli Lilly & Co.
 
263
145,755
Merck & Co., Inc.
 
682
74,324
Novo Nordisk A/S Series B
 
146
26,930
Zoetis, Inc. Class A
 
361
68,774
 
 
 
342,029
TOTAL HEALTH CARE
 
 
1,293,182
INDUSTRIALS - 13.3%
 
 
 
Aerospace & Defense - 0.8%
 
 
 
Lockheed Martin Corp.
 
185
82,945
Building Products - 2.9%
 
 
 
Carrier Global Corp.
 
1,272
73,076
Fortune Brands Home & Security, Inc.
 
661
45,622
The AZEK Co., Inc. (a)
 
1,647
56,014
Trane Technologies PLC
 
604
123,977
 
 
 
298,689
Electrical Equipment - 4.5%
 
 
 
Eaton Corp. PLC
 
1,457
335,649
Hubbell, Inc. Class B
 
188
61,297
Prysmian SpA
 
1,251
51,263
Sunrun, Inc. (a)
 
886
13,848
 
 
 
462,057
Ground Transportation - 0.9%
 
 
 
Uber Technologies, Inc. (a)
 
1,959
92,524
Industrial Conglomerates - 1.4%
 
 
 
General Electric Co.
 
665
76,116
Honeywell International, Inc.
 
391
73,485
 
 
 
149,601
Machinery - 2.4%
 
 
 
Caterpillar, Inc.
 
413
116,107
Cummins, Inc.
 
339
77,984
Pentair PLC
 
712
50,025
 
 
 
244,116
Professional Services - 0.4%
 
 
 
Equifax, Inc.
 
201
41,547
TOTAL INDUSTRIALS
 
 
1,371,479
INFORMATION TECHNOLOGY - 30.3%
 
 
 
IT Services - 3.2%
 
 
 
Accenture PLC Class A
 
487
157,676
Shopify, Inc. Class A (a)
 
2,621
174,270
 
 
 
331,946
Semiconductors & Semiconductor Equipment - 12.4%
 
 
 
Analog Devices, Inc.
 
291
52,898
Applied Materials, Inc.
 
507
77,449
Lam Research Corp.
 
127
89,205
Marvell Technology, Inc.
 
944
54,988
MKS Instruments, Inc.
 
219
21,950
NVIDIA Corp.
 
1,361
671,722
NXP Semiconductors NV
 
359
73,853
ON Semiconductor Corp. (a)
 
589
57,993
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
1,841
172,262
 
 
 
1,272,320
Software - 12.3%
 
 
 
Adobe, Inc. (a)
 
118
66,002
HubSpot, Inc. (a)
 
96
52,466
Intuit, Inc.
 
143
77,479
Microsoft Corp.
 
2,694
882,987
Oracle Corp.
 
1,037
124,844
Workday, Inc. Class A (a)
 
268
65,526
 
 
 
1,269,304
Technology Hardware, Storage & Peripherals - 2.4%
 
 
 
Apple, Inc.
 
1,309
245,922
TOTAL INFORMATION TECHNOLOGY
 
 
3,119,492
MATERIALS - 3.9%
 
 
 
Chemicals - 1.1%
 
 
 
Linde PLC
 
296
114,564
Containers & Packaging - 1.9%
 
 
 
Aptargroup, Inc.
 
253
33,538
Avery Dennison Corp.
 
109
20,533
O-I Glass, Inc. (a)
 
6,974
138,504
 
 
 
192,575
Metals & Mining - 0.9%
 
 
 
Newmont Corp.
 
2,294
90,429
TOTAL MATERIALS
 
 
397,568
REAL ESTATE - 0.6%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.6%
 
 
 
Extra Space Storage, Inc.
 
150
19,302
SL Green Realty Corp.
 
657
25,794
Weyerhaeuser Co.
 
379
12,412
 
 
 
57,508
UTILITIES - 0.8%
 
 
 
Electric Utilities - 0.8%
 
 
 
NextEra Energy, Inc.
 
1,281
85,571
 
TOTAL COMMON STOCKS
 (Cost $8,897,767)
 
 
 
9,862,419
 
 
 
 
Money Market Funds - 4.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.43% (b)
 
 (Cost $420,449)
 
 
420,365
420,449
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.8%
 (Cost $9,318,216)
 
 
 
10,282,868
NET OTHER ASSETS (LIABILITIES) - 0.2%  
21,750
NET ASSETS - 100.0%
10,304,618
 
 
Legend
 
(a)
Non-income producing
 
(b)
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.
 
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.43%
253,749
2,698,774
2,532,074
4,335
-
-
420,449
0.0%
Total
253,749
2,698,774
2,532,074
4,335
-
-
420,449
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend 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. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
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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