Common Stocks - 99.5%
|
|||
Shares
|
Value ($)
|
||
Equity Real Estate Investment Trusts (REITs) - 91.7%
|
|||
REITs - Apartments - 11.2%
|
|||
American Homes 4 Rent Class A
|
613,918
|
21,978,264
|
|
Apartment Investment & Management Co. Class A (a)
|
240,353
|
1,922,824
|
|
AvalonBay Communities, Inc.
|
267,198
|
50,652,725
|
|
Camden Property Trust (SBI)
|
201,141
|
20,049,735
|
|
Centerspace
|
28,604
|
1,923,619
|
|
Equity Residential (SBI)
|
678,200
|
43,676,080
|
|
Essex Property Trust, Inc.
|
120,866
|
29,763,253
|
|
Independence Realty Trust, Inc.
|
427,324
|
6,738,899
|
|
Invitation Homes, Inc.
|
1,155,457
|
39,516,629
|
|
Mid-America Apartment Communities, Inc.
|
219,407
|
28,522,910
|
|
UDR, Inc.
|
588,057
|
22,393,211
|
|
267,138,149
|
|||
REITs - Diversified - 21.4%
|
|||
Alexander & Baldwin, Inc.
|
137,111
|
2,258,218
|
|
Apartment Income (REIT) Corp.
|
276,955
|
10,629,533
|
|
Apple Hospitality (REIT), Inc.
|
414,713
|
6,121,164
|
|
Armada Hoffler Properties, Inc.
|
129,811
|
1,365,612
|
|
Broadstone Net Lease, Inc.
|
355,263
|
5,172,629
|
|
Cousins Properties, Inc.
|
288,284
|
6,613,235
|
|
Crown Castle, Inc.
|
814,491
|
76,382,966
|
|
Digital Realty Trust, Inc.
|
570,019
|
79,107,237
|
|
Elme Communities (SBI)
|
164,811
|
2,498,535
|
|
EPR Properties
|
142,467
|
5,782,736
|
|
Equinix, Inc.
|
176,556
|
125,550,737
|
|
Farmland Partners, Inc.
|
87,855
|
945,320
|
|
Gaming & Leisure Properties
|
500,991
|
21,407,345
|
|
Gladstone Commercial Corp.
|
78,638
|
1,051,390
|
|
Gladstone Land Corp.
|
63,202
|
801,401
|
|
Global Net Lease, Inc. (b)
|
372,150
|
2,586,443
|
|
InvenTrust Properties Corp.
|
127,913
|
3,241,315
|
|
Lamar Advertising Co. Class A
|
165,145
|
19,132,048
|
|
NexPoint Diversified Real Estate Trust
|
69,757
|
417,147
|
|
NexPoint Residential Trust, Inc.
|
43,742
|
1,497,726
|
|
One Liberty Properties, Inc. (b)
|
33,296
|
762,811
|
|
Outfront Media, Inc.
|
265,712
|
4,214,192
|
|
Potlatch Corp.
|
149,173
|
5,968,412
|
|
SBA Communications Corp. Class A
|
202,249
|
37,642,584
|
|
Uniti Group, Inc.
|
461,219
|
2,652,009
|
|
VICI Properties, Inc.
|
1,949,398
|
55,655,313
|
|
Vornado Realty Trust
|
307,957
|
8,016,121
|
|
WP Carey, Inc.
|
410,490
|
22,511,272
|
|
509,985,451
|
|||
REITs - Health Care - 8.0%
|
|||
CareTrust (REIT), Inc.
|
226,555
|
5,600,440
|
|
Community Healthcare Trust, Inc.
|
48,423
|
1,284,662
|
|
Diversified Healthcare Trust (SBI)
|
328,790
|
775,944
|
|
Global Medical REIT, Inc.
|
123,647
|
1,002,777
|
|
Healthcare Realty Trust, Inc.
|
712,720
|
10,142,006
|
|
Healthpeak Properties, Inc.
|
1,332,622
|
24,800,095
|
|
LTC Properties, Inc.
|
77,443
|
2,563,363
|
|
Medical Properties Trust, Inc. (b)
|
1,123,902
|
5,169,949
|
|
Sabra Health Care REIT, Inc.
|
439,760
|
6,121,459
|
|
Universal Health Realty Income Trust (SBI)
|
25,041
|
902,227
|
|
Ventas, Inc.
|
752,597
|
33,324,995
|
|
Welltower, Inc.
|
1,039,897
|
99,081,386
|
|
190,769,303
|
|||
REITs - Health Care Facilities - 0.8%
|
|||
National Health Investors, Inc.
|
82,293
|
5,189,397
|
|
Omega Healthcare Investors, Inc.
|
461,122
|
14,022,720
|
|
19,212,117
|
|||
REITs - Hotels - 2.7%
|
|||
Chatham Lodging Trust
|
93,147
|
854,158
|
|
DiamondRock Hospitality Co.
|
402,774
|
3,584,689
|
|
Host Hotels & Resorts, Inc.
|
1,331,661
|
25,128,443
|
|
Park Hotels & Resorts, Inc.
|
402,253
|
6,488,341
|
|
Pebblebrook Hotel Trust
|
228,220
|
3,316,037
|
|
RLJ Lodging Trust
|
298,699
|
3,285,689
|
|
Ryman Hospitality Properties, Inc.
|
107,249
|
11,312,625
|
|
Service Properties Trust
|
313,999
|
1,924,814
|
|
Summit Hotel Properties, Inc.
|
210,552
|
1,265,418
|
|
Sunstone Hotel Investors, Inc.
|
373,359
|
3,808,262
|
|
Xenia Hotels & Resorts, Inc.
|
201,695
|
2,797,510
|
|
63,765,986
|
|||
REITs - Industrial Buildings - 0.5%
|
|||
STAG Industrial, Inc.
|
344,276
|
11,839,652
|
|
REITs - Management/Investment - 9.5%
|
|||
American Assets Trust, Inc.
|
96,906
|
2,068,943
|
|
American Tower Corp.
|
875,424
|
150,187,741
|
|
Empire State Realty Trust, Inc.
|
267,149
|
2,431,056
|
|
LXP Industrial Trust (REIT)
|
546,524
|
4,563,475
|
|
NNN (REIT), Inc.
|
341,990
|
13,860,855
|
|
Rayonier, Inc.
|
266,238
|
7,896,619
|
|
Safehold, Inc. (b)
|
86,206
|
1,572,397
|
|
UMH Properties, Inc.
|
120,406
|
1,916,864
|
|
Weyerhaeuser Co.
|
1,375,421
|
41,496,452
|
|
Whitestone REIT Class B
|
94,448
|
1,086,152
|
|
227,080,554
|
|||
REITs - Manufactured Homes - 1.9%
|
|||
Equity Lifestyle Properties, Inc.
|
331,784
|
20,003,257
|
|
Sun Communities, Inc.
|
233,436
|
25,986,096
|
|
45,989,353
|
|||
REITs - Office Buildings - 0.0%
|
|||
Office Properties Income Trust
|
99,759
|
201,513
|
|
REITs - Office Property - 4.2%
|
|||
Alexandria Real Estate Equities, Inc.
|
310,995
|
36,034,991
|
|
Boston Properties, Inc.
|
281,674
|
17,432,804
|
|
Brandywine Realty Trust (SBI)
|
338,892
|
1,538,570
|
|
City Office REIT, Inc.
|
78,246
|
364,626
|
|
COPT Defense Properties (SBI)
|
210,327
|
5,041,538
|
|
Douglas Emmett, Inc.
|
316,167
|
4,334,650
|
|
Easterly Government Properties, Inc.
|
186,454
|
2,179,647
|
|
Equity Commonwealth (a)
|
191,439
|
3,583,738
|
|
Franklin Street Properties Corp.
|
154,474
|
287,322
|
|
Highwoods Properties, Inc. (SBI)
|
202,316
|
5,300,679
|
|
Hudson Pacific Properties, Inc.
|
239,059
|
1,386,542
|
|
JBG SMITH Properties
|
173,146
|
2,598,921
|
|
Kilroy Realty Corp.
|
211,856
|
7,160,733
|
|
Net Lease Office Properties
|
27,733
|
633,976
|
|
Orion Office (REIT), Inc.
|
106,878
|
333,459
|
|
Paramount Group, Inc.
|
304,100
|
1,411,024
|
|
Peakstone Realty Trust (b)
|
68,032
|
950,407
|
|
Piedmont Office Realty Trust, Inc. Class A
|
238,479
|
1,643,120
|
|
SL Green Realty Corp.
|
124,336
|
6,195,663
|
|
Veris Residential, Inc.
|
136,917
|
1,972,974
|
|
100,385,384
|
|||
REITs - Regional Malls - 4.1%
|
|||
CBL & Associates Properties, Inc.
|
19,422
|
422,429
|
|
Simon Property Group, Inc.
|
613,572
|
86,225,273
|
|
Tanger, Inc.
|
207,144
|
5,872,532
|
|
The Macerich Co.
|
412,326
|
5,673,606
|
|
98,193,840
|
|||
REITs - Shopping Centers - 7.8%
|
|||
Acadia Realty Trust (SBI)
|
195,953
|
3,386,068
|
|
Alexanders, Inc.
|
4,637
|
981,004
|
|
Brixmor Property Group, Inc.
|
566,964
|
12,529,904
|
|
Federal Realty Investment Trust (SBI)
|
138,239
|
14,400,357
|
|
Kimco Realty Corp.
|
1,268,112
|
23,624,927
|
|
Kite Realty Group Trust
|
417,341
|
9,098,034
|
|
Phillips Edison & Co., Inc.
|
229,122
|
7,492,289
|
|
Realty Income Corp.
|
1,564,044
|
83,738,916
|
|
Regency Centers Corp.
|
329,846
|
19,533,480
|
|
Retail Opportunity Investments Corp.
|
238,734
|
2,929,266
|
|
Saul Centers, Inc.
|
24,566
|
894,448
|
|
SITE Centers Corp.
|
360,771
|
4,866,801
|
|
Urban Edge Properties
|
223,261
|
3,735,157
|
|
187,210,651
|
|||
REITs - Single Tenant - 1.2%
|
|||
Agree Realty Corp.
|
188,737
|
10,799,531
|
|
Essential Properties Realty Trust, Inc.
|
298,252
|
7,855,958
|
|
Four Corners Property Trust, Inc.
|
171,582
|
4,023,598
|
|
Getty Realty Corp.
|
92,822
|
2,515,476
|
|
NETSTREIT Corp.
|
138,299
|
2,330,338
|
|
27,524,901
|
|||
REITs - Storage - 8.2%
|
|||
CubeSmart
|
423,696
|
17,134,266
|
|
Extra Space Storage, Inc.
|
397,516
|
53,378,448
|
|
Iron Mountain, Inc.
|
549,213
|
42,574,992
|
|
National Storage Affiliates Trust
|
150,395
|
5,269,841
|
|
Public Storage
|
297,639
|
77,222,439
|
|
195,579,986
|
|||
REITs - Warehouse/Industrial - 10.2%
|
|||
Americold Realty Trust
|
531,483
|
11,676,682
|
|
EastGroup Properties, Inc.
|
87,650
|
13,617,304
|
|
First Industrial Realty Trust, Inc.
|
249,087
|
11,313,532
|
|
Industrial Logistics Properties Trust
|
119,639
|
421,129
|
|
Plymouth Industrial REIT, Inc.
|
83,341
|
1,740,160
|
|
Prologis, Inc.
|
1,737,690
|
177,331,263
|
|
Rexford Industrial Realty, Inc.
|
399,799
|
17,115,395
|
|
Terreno Realty Corp.
|
162,503
|
8,832,038
|
|
242,047,503
|
|||
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)
|
2,186,924,343
|
||
Real Estate Management & Development - 7.8%
|
|||
Diversified Real Estate Activities - 0.2%
|
|||
The RMR Group, Inc.
|
30,762
|
729,675
|
|
The St. Joe Co.
|
67,126
|
3,839,607
|
|
4,569,282
|
|||
Real Estate Development - 0.2%
|
|||
Forestar Group, Inc. (a)
|
39,083
|
1,211,182
|
|
Howard Hughes Holdings, Inc.
|
58,871
|
3,836,034
|
|
5,047,216
|
|||
Real Estate Operating Companies - 0.3%
|
|||
Digitalbridge Group, Inc.
|
311,902
|
5,127,669
|
|
Kennedy-Wilson Holdings, Inc. (b)
|
203,353
|
1,746,802
|
|
6,874,471
|
|||
Real Estate Services - 7.1%
|
|||
Anywhere Real Estate, Inc. (a)
|
188,183
|
914,569
|
|
CBRE Group, Inc. (a)
|
573,388
|
49,821,683
|
|
Compass, Inc. (a)
|
704,801
|
2,220,123
|
|
CoStar Group, Inc. (a)
|
768,084
|
70,302,729
|
|
Cushman & Wakefield PLC (a)
|
343,757
|
3,317,255
|
|
Doma Holdings, Inc. Class A (a)(b)
|
12,363
|
74,796
|
|
eXp World Holdings, Inc.
|
144,573
|
1,439,947
|
|
Jones Lang LaSalle, Inc. (a)
|
89,542
|
16,180,239
|
|
Marcus & Millichap, Inc.
|
46,718
|
1,479,559
|
|
Newmark Group, Inc.
|
277,351
|
2,654,249
|
|
Offerpad Solutions, Inc. (a)(b)
|
19,520
|
151,670
|
|
Opendoor Technologies, Inc. (a)(b)
|
1,025,738
|
2,041,219
|
|
Redfin Corp. (a)(b)
|
217,280
|
1,218,941
|
|
Zillow Group, Inc.:
|
|||
Class A (a)
|
114,911
|
4,826,262
|
|
Class C (a)
|
280,159
|
11,926,369
|
|
168,569,610
|
|||
REITs - Shopping Centers - 0.0%
|
|||
Seritage Growth Properties (a)(b)
|
65,774
|
614,329
|
|
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT
|
185,674,908
|
||
TOTAL COMMON STOCKS
(Cost $2,410,001,008)
|
2,372,599,251
|
||
U.S. Treasury Obligations - 0.0%
|
|||
Principal
Amount (c)
|
Value ($)
|
||
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (d)
(Cost $598,080)
|
600,000
|
598,064
|
|
Money Market Funds - 0.8%
|
|||
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund 5.39% (e)
|
8,714,683
|
8,716,426
|
|
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f)
|
9,737,812
|
9,738,786
|
|
TOTAL MONEY MARKET FUNDS
(Cost $18,455,212)
|
18,455,212
|
||
TOTAL INVESTMENT IN SECURITIES - 100.3%
(Cost $2,429,054,300)
|
2,391,652,527
|
NET OTHER ASSETS (LIABILITIES) - (0.3)%
|
(7,828,278)
|
NET ASSETS - 100.0%
|
2,383,824,249
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Index Contracts
|
|||||
CBOT Dow Jones U.S. Real Estate Index Contracts (United States)
|
139
|
Jun 2024
|
4,420,200
|
(422,171)
|
(422,171)
|
CME E-mini S&P MidCap 400 Index Contracts (United States)
|
22
|
Jun 2024
|
6,329,840
|
(34,604)
|
(34,604)
|
TOTAL FUTURES CONTRACTS
|
(456,775)
|
||||
The notional amount of futures purchased as a percentage of Net Assets is 0.5%
|
(a)
|
Non-income producing
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(c)
|
Amount is stated in United States dollars unless otherwise noted.
|
(d)
|
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $598,064.
|
(e)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|
(f)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
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%
|
6,169,355
|
152,892,522
|
150,345,443
|
218,053
|
(8)
|
-
|
8,716,426
|
0.0%
|
Fidelity Securities Lending Cash Central Fund 5.39%
|
22,663,855
|
76,543,743
|
89,468,812
|
89,019
|
-
|
-
|
9,738,786
|
0.0%
|
Total
|
28,833,210
|
229,436,265
|
239,814,255
|
307,072
|
(8)
|
-
|
18,455,212
|
|