NPORT-EX 2 QTLY_321_20201231.htm

Quarterly Holdings Report
for

Fidelity Asset Manager® 70%

December 31, 2020







AMG-QTLY-0221
1.811339.116





Schedule of Investments December 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Equity Central Funds - 75.9%   
 Shares Value 
Fidelity Commodity Strategy Central Fund (a) 9,703,523 $45,703,594 
Fidelity Emerging Markets Equity Central Fund (a) 1,796,546 518,770,653 
Fidelity International Equity Central Fund (a) 8,998,261 867,972,253 
Fidelity Real Estate Equity Central Fund (a) 72,116 8,418,782 
Fidelity U.S. Equity Central Fund (a) 28,693,547 3,323,573,575 
TOTAL EQUITY CENTRAL FUNDS   
(Cost $2,533,988,652)  4,764,438,857 
Fixed-Income Central Funds - 20.5%   
High Yield Fixed-Income Funds - 3.4%   
Fidelity Emerging Markets Debt Central Fund (a) 5,444,377 51,013,810 
Fidelity Emerging Markets Debt Local Currency Central Fund (a) 261,624 28,339,130 
Fidelity Floating Rate Central Fund (a) 461,249 45,686,668 
Fidelity High Income Central Fund (a) 805,441 88,292,423 
TOTAL HIGH YIELD FIXED-INCOME FUNDS  213,332,031 
Investment Grade Fixed-Income Funds - 17.1%   
Fidelity Inflation-Protected Bond Index Central Fund (a) 1,856,562 202,625,202 
Fidelity International Credit Central Fund (a) 700,222 73,005,188 
Fidelity Investment Grade Bond Central Fund (a) 6,804,460 796,598,115 
TOTAL INVESTMENT GRADE FIXED-INCOME FUNDS  1,072,228,505 
TOTAL FIXED-INCOME CENTRAL FUNDS   
(Cost $1,167,756,401)  1,285,560,536 
Money Market Central Funds - 0.3%   
Fidelity Cash Central Fund 0.11% (b) 8,526,166 8,527,871 
Fidelity Securities Lending Cash Central Fund 0.11% (b)(c) 8,985,027 8,985,925 
TOTAL MONEY MARKET CENTRAL FUNDS   
(Cost $17,513,796)  17,513,796 
 Principal Amount Value 
U.S. Treasury Obligations - 0.2%   
U.S. Treasury Bills, yield at date of purchase 0.06% to 0.08% 2/25/21 to 4/1/21 (d)   
(Cost $16,687,849) 16,690,000 16,688,195 
 Shares Value 
Investment Companies - 3.3%   
iShares 20+ Year Treasury Bond ETF (e) 557,377 $87,915,074 
iShares MSCI Japan ETF 919,753 62,138,513 
Market Vectors Gold Miners ETF 1,545,922 55,684,110 
TOTAL INVESTMENT COMPANIES   
(Cost $188,536,682)  205,737,697 
TOTAL INVESTMENT IN SECURITIES - 100.2%   
(Cost $3,924,483,380)  6,289,939,081 
NET OTHER ASSETS (LIABILITIES) - (0.2)%  (11,389,523) 
NET ASSETS - 100%  $6,278,549,558 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 84 March 2021 $8,949,360 $156,074 $156,074 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 1,379 March 2021 258,479,760 (5,226,052) (5,226,052) 
TOTAL FUTURES CONTRACTS     $(5,069,978) 

The notional amount of futures purchased as a percentage of Net Assets is 0.1%

The notional amount of futures sold as a percentage of Net Assets is 4.1%

Security Type Abbreviations

ETF – Exchange-Traded Fund

Legend

 (a) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (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.

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

 (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 $16,688,195.

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

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 $5,483 
Fidelity Commodity Strategy Central Fund 18,870 
Fidelity Emerging Markets Debt Central Fund 566,489 
Fidelity Emerging Markets Debt Local Currency Central Fund 369,456 
Fidelity Emerging Markets Equity Central Fund 2,625,457 
Fidelity Floating Rate Central Fund 318,936 
Fidelity High Income Central Fund 1,338,351 
Fidelity Inflation-Protected Bond Index Central Fund 2,732,668 
Fidelity International Credit Central Fund 2,665,280 
Fidelity International Equity Central Fund 3,337,666 
Fidelity Investment Grade Bond Central Fund 22,150,161 
Fidelity Real Estate Equity Central Fund 99,488 
Fidelity Securities Lending Cash Central Fund 7,195 
Fidelity U.S. Equity Central Fund 26,280,361 
Total $62,515,861 

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.

Fiscal year to date information regarding the Fund’s investments in non-Money Market Central Funds, including the ownership percentage, is presented below.

Affiliate Value, beginning of period Purchases Sales Proceeds Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period % ownership, end of period 
Fidelity Commodity Strategy Central Fund $-- $43,480,015 $353,032 $937 $2,575,674 $45,703,594 32.3 
Fidelity Emerging Markets Debt Central Fund 47,819,338 2,016,349 895,090 (83,655) 2,156,868 51,013,810 1.9 
Fidelity Emerging Markets Debt Local Currency Central Fund 25,856,727 369,456 -- -- 2,112,947 28,339,130 17.2 
Fidelity Emerging Markets Equity Central Fund 421,301,253 10,545,090 4,740,023 240,379 91,423,954 518,770,653 20.9 
Fidelity Floating Rate Central Fund 23,960,132 21,333,566 312,204 (6,358) 711,532 45,686,668 2.4 
Fidelity High Income Central Fund 89,552,559 2,785,453 8,416,000 (196,914) 4,567,325 88,292,423 3.6 
Fidelity Inflation-Protected Bond Index Central Fund 223,020,904 4,622,616 25,499,536 1,724,085 (1,242,867) 202,625,202 15.1 
Fidelity International Credit Central Fund 77,423,084 4,109,769 8,371,082 358,721 (515,304) 73,005,188 16.0 
Fidelity International Equity Central Fund 754,010,575 18,122,170 9,389,421 9,471 105,219,458 867,972,253 24.6 
Fidelity Investment Grade Bond Central Fund 779,247,359 38,358,184 12,389,453 798,035 (9,416,010) 796,598,115 2.6 
Fidelity Real Estate Equity Central Fund 7,624,993 298,474 117,193 5,071 607,437 8,418,782 1.1 
Fidelity U.S. Equity Central Fund 2,872,962,504 74,100,652 53,081,559 (24,364,570) 453,956,548 3,323,573,575 13.3 
 5,322,779,428 220,141,794 123,564,593 (21,514,798) 652,157,562 6,049,999,393  

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, changes in interest rates and credit quality. 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). Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Exchange-Traded Funds (ETFs) are valued at their last 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 but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 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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