Quarterly Holdings Report

for

Fidelity® Water Sustainability Fund

February 29, 2024

DSW-NPRT3-0424

1.9897402.103

Common Stocks - 93.6%
	Shares	Value ($)
INDUSTRIALS - 67.2%
Building Products - 7.8%
Advanced Drain Systems, Inc.	22,395	3,655,760
Geberit AG (Reg.)	6,301	3,656,554
		7,312,314
Commercial Services & Supplies - 5.6%
Tetra Tech, Inc.	29,868	5,296,194
Veralto Corp.	51	4,407
		5,300,601
Construction & Engineering - 5.1%
Stantec, Inc.	56,916	4,752,401
Machinery - 42.6%
Chart Industries, Inc. (a)	30,399	4,342,801
Energy Recovery, Inc. (a)	49,325	770,950
Georg Fischer AG (Reg.)	21,971	1,627,297
IDEX Corp.	9,986	2,355,697
Ingersoll Rand, Inc.	58,823	5,372,305
Kurita Water Industries Ltd.	56,026	2,275,496
Mueller Water Products, Inc. Class A	269,912	4,197,132
Organo Corp.	11,144	570,134
Pentair PLC	115,393	8,976,421
Watts Water Technologies, Inc. Class A	12,232	2,494,716
Xylem, Inc.	55,419	7,040,984
		40,023,933
Professional Services - 2.1%
KBR, Inc.	32,796	1,968,744
Trading Companies & Distributors - 4.0%
Core & Main, Inc. (a)	79,279	3,783,987
TOTAL INDUSTRIALS		63,141,980
INFORMATION TECHNOLOGY - 3.7%
Electronic Equipment, Instruments & Components - 1.2%
Badger Meter, Inc.	6,955	1,103,689
Software - 2.5%
Roper Technologies, Inc.	4,425	2,410,430
TOTAL INFORMATION TECHNOLOGY		3,514,119
MATERIALS - 2.4%
Chemicals - 2.4%
Ecolab, Inc.	9,975	2,242,779
UTILITIES - 20.3%
Water Utilities - 20.3%
American Water Works Co., Inc.	31,493	3,733,180
Essential Utilities, Inc.	122,762	4,269,662
Pennon Group PLC	140,297	1,171,496
Severn Trent PLC	121,150	3,823,191
United Utilities Group PLC	473,306	6,126,404
		19,123,933
TOTAL COMMON STOCKS (Cost $71,880,742)		88,022,811

Nonconvertible Preferred Stocks - 5.2%
	Shares	Value ($)
UTILITIES - 5.2%
Water Utilities - 5.2%
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR (Cost $3,600,129)	309,354	4,887,793

Money Market Funds - 0.6%
	Shares	Value ($)
Fidelity Cash Central Fund 5.39% (b) (Cost $529,413)	529,307	529,413

TOTAL INVESTMENT IN SECURITIES - 99.4% (Cost $76,010,284)	93,440,017
NET OTHER ASSETS (LIABILITIES) - 0.6%	588,287
NET ASSETS - 100.0%	94,028,304

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 5.39%	-	14,540,077	14,010,664	28,521	-	-	529,413	0.0%
Total	-	14,540,077	14,010,664	28,521	-	-	529,413

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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