NPORT-EX 2 QTLY_6041_20240229.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Agricultural Productivity Fund
February 29, 2024
DAS-NPRT3-0424
1.9897396.103
Common Stocks - 99.8%
 
 
Shares
Value ($)
 
CONSUMER STAPLES - 36.8%
 
 
 
Food Products - 36.8%
 
 
 
Adecoagro SA
 
46,299
464,842
Archer Daniels Midland Co.
 
65,872
3,498,462
Bakkafrost
 
28,055
1,751,242
Bunge Global SA
 
27,481
2,593,382
Cranswick PLC
 
32,312
1,568,685
Darling Ingredients, Inc. (a)
 
42,860
1,813,407
First Resources Ltd.
 
581,754
613,943
Ingredion, Inc.
 
21,633
2,544,690
Lamb Weston Holdings, Inc.
 
26,726
2,731,664
Origin Enterprises PLC
 
173,309
592,844
Pilgrim's Pride Corp. (a)
 
38,382
1,222,083
Sakata Seed Corp.
 
43,758
1,059,509
 
 
 
20,454,753
HEALTH CARE - 0.8%
 
 
 
Biotechnology - 0.8%
 
 
 
Cibus, Inc. (a)(b)
 
25,743
448,958
INDUSTRIALS - 30.1%
 
 
 
Machinery - 30.1%
 
 
 
AGCO Corp.
 
7,935
870,470
Deere & Co.
 
37,128
13,553,575
Toro Co.
 
25,081
2,315,227
 
 
 
16,739,272
MATERIALS - 32.1%
 
 
 
Chemicals - 32.1%
 
 
 
CF Industries Holdings, Inc.
 
33,975
2,742,462
Corteva, Inc.
 
107,595
5,758,484
FMC Corp.
 
23,835
1,344,056
Nufarm Ltd.
 
184,442
690,551
Nutrien Ltd.
 
86,003
4,489,152
OCI NV
 
40,189
1,057,673
Sabic Agriculture-Nutrients Co.
 
35,094
1,171,578
The Mosaic Co.
 
20,239
630,647
 
 
 
17,884,603
 
TOTAL COMMON STOCKS
 (Cost $50,386,059)
 
 
 
55,527,586
 
 
 
 
Money Market Funds - 0.2%
 
 
Shares
Value ($)
 
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d)
 
 (Cost $84,260)
 
 
84,252
84,260
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $50,470,319)
 
 
 
55,611,846
NET OTHER ASSETS (LIABILITIES) - 0.0%  
22,142
NET ASSETS - 100.0%
55,633,988
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
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.
 
(d)
Investment made with cash collateral received from securities on loan.
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
3,462,746
8,300,341
11,763,087
16,018
-
-
-
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
-
7,967,239
7,882,979
8,007
-
-
84,260
0.0%
Total
3,462,746
16,267,580
19,646,066
24,025
-
-
84,260
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
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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