NPORT-EX 2 QTLY_314_20240630.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Asset Manager® 50%
June 30, 2024
FAA-NPRT3-0824
1.803291.120
Equity Central Funds - 58.7%
 
 
Shares
Value ($)
 
Fidelity Commodity Strategy Central Fund (a)
 
444,043
41,247,114
Fidelity Emerging Markets Equity Central Fund (a)
 
2,881,559
629,361,375
Fidelity International Equity Central Fund (a)
 
14,352,273
1,507,562,797
Fidelity Real Estate Equity Central Fund (a)
 
299,713
38,012,540
Fidelity U.S. Equity Central Fund (a)
 
24,666,224
3,372,366,207
 
TOTAL EQUITY CENTRAL FUNDS
 (Cost $2,499,074,373)
 
 
5,588,550,033
 
 
 
 
Fixed-Income Central Funds - 38.3%
 
 
Shares
Value ($)
 
High Yield Fixed-Income Funds - 2.5%
 
 
 
Fidelity Emerging Markets Debt Local Currency Central Fund (a)
 
816,966
70,373,409
Fidelity Floating Rate Central Fund (a)
 
966,562
94,694,037
Fidelity High Income Central Fund (a)
 
674,636
70,438,731
TOTAL HIGH YIELD FIXED-INCOME FUNDS
 
 
235,506,177
Investment Grade Fixed-Income Funds - 35.8%
 
 
 
Fidelity Inflation-Protected Bond Index Central Fund (a)
 
1,051,046
93,963,552
Fidelity International Credit Central Fund (a)
 
293,271
23,675,789
Fidelity Investment Grade Bond Central Fund (a)
 
33,957,177
3,288,413,010
TOTAL INVESTMENT GRADE FIXED-INCOME FUNDS
 
 
3,406,052,351
 
TOTAL FIXED-INCOME CENTRAL FUNDS
 (Cost $3,801,661,180)
 
 
 
3,641,558,528
 
 
 
 
Money Market Central Funds - 0.5%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.38% (b)
 
37,934,543
37,942,130
Fidelity Securities Lending Cash Central Fund 5.38% (b)(c)
 
5,465,079
5,465,625
 
TOTAL MONEY MARKET CENTRAL FUNDS
 (Cost $43,407,755)
 
 
43,407,755
 
 
 
 
U.S. Treasury Obligations - 0.2%
 
 
Principal
Amount (d)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.33% 7/25/24 to 9/19/24 (e)
 
 (Cost $22,351,039)
 
 
22,510,000
22,351,558
 
 
 
 
Investment Companies - 2.4%
 
 
Shares
Value ($)
 
Fidelity Enhanced Mid Cap ETF (f)
 
794,389
23,394,756
Fidelity Hedged Equity ETF (f)
 
4,733,743
122,465,244
iShares 20+ Year Treasury Bond ETF
 
528,117
48,470,578
iShares Russell 2000 ETF (g)
 
173,567
35,215,009
 
TOTAL INVESTMENT COMPANIES
 (Cost $230,640,261)
 
 
229,545,587
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.1%
 (Cost $6,597,134,608)
 
 
 
9,525,413,461
NET OTHER ASSETS (LIABILITIES) - (0.1)%  
(8,236,795)
NET ASSETS - 100.0%
9,517,176,666
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Sold
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini S&P 500 Index Contracts (United States)
1,297
Sep 2024
358,069,275
(1,149,197)
(1,149,197)
ICE MSCI EAFE Index Contracts (United States)
1,542
Sep 2024
180,660,720
(1,146,970)
(1,146,970)
ICE MSCI Emerging Markets Index Contracts (United States)
926
Sep 2024
50,383,660
(135,180)
(135,180)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(2,431,347)
The notional amount of futures sold as a percentage of Net Assets is 6.2%

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, other than the Commodity Strategy Central Fund, 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)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
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 $22,301,733.
 
(f)
Affiliated Fund
 
(g)
Security or a portion of the security is on loan at period end.
 
 
 
 
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 5.38%
122,239,620
618,073,706
702,371,442
3,220,511
246
-
37,942,130
0.1%
Fidelity Commodity Strategy Central Fund
45,193,778
1,236,898
4,416,196
862,526
(781,604)
14,238
41,247,114
17.9%
Fidelity Emerging Markets Debt Central Fund
14,881,559
1,085,935
16,862,166
487,513
(3,223,909)
4,118,581
-
0.0%
Fidelity Emerging Markets Debt Local Currency Central Fund
73,864,985
5,696,527
7,191,251
5,696,527
(1,150,365)
(846,487)
70,373,409
27.1%
Fidelity Emerging Markets Equity Central Fund
575,008,680
12,720,689
49,284,348
8,599,510
(1,822,768)
92,739,122
629,361,375
25.9%
Fidelity Floating Rate Central Fund
122,596,300
8,707,877
36,645,453
7,868,567
(541,408)
576,721
94,694,037
6.3%
Fidelity Hedged Equity Central Fund
118,514,113
1,274,739
140,709,499
1,274,739
20,642,489
278,158
-
0.0%
Fidelity High Income Central Fund
46,924,476
27,506,769
5,598,978
3,350,579
27,508
1,578,956
70,438,731
5.3%
Fidelity Inflation-Protected Bond Index Central Fund
115,407,562
50,718,694
73,298,420
5,595,868
(8,939,415)
10,075,131
93,963,552
22.3%
Fidelity International Credit Central Fund
46,843,042
1,832,493
27,583,731
1,486,445
(6,392,177)
8,976,162
23,675,789
25.7%
Fidelity International Equity Central Fund
1,345,260,183
40,308,240
124,129,862
29,775,224
1,973,313
244,150,923
1,507,562,797
28.0%
Fidelity Investment Grade Bond Central Fund
3,220,799,898
332,853,975
374,485,557
104,812,956
(21,254,441)
130,499,135
3,288,413,010
8.2%
Fidelity Real Estate Equity Central Fund
36,531,465
1,239,784
4,416,360
865,249
6,300
4,651,351
38,012,540
3.9%
Fidelity Securities Lending Cash Central Fund 5.38%
751,150
470,612,822
465,898,347
16,985
-
-
5,465,625
0.0%
Fidelity U.S. Equity Central Fund
2,924,109,056
208,984,583
281,738,266
184,590,270
41,963,109
479,047,725
3,372,366,207
17.5%
Total
8,808,925,867
1,782,853,731
2,314,629,876
358,503,469
20,506,878
975,859,716
9,273,516,316
 
 
 
 
 
 
 
 
 
 
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.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Fidelity Enhanced Mid Cap ETF
-
23,898,160
-
61,168
-
(503,404)
23,394,756
Fidelity Hedged Equity ETF
-
130,468,517
10,961,176
142,012
(76,900)
3,034,803
122,465,244
Fidelity Low Volatility Factor ETF
-
92,765,823
95,995,301
276,056
3,229,478
-
-
 
-
247,132,500
106,956,477
479,236
3,152,578
2,531,399
145,860,000
 
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:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by 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 services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs) are valued at their last 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 but the exchange reports a closing bid level, ETFs and ETNs 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 and ETNs 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.
 
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.
 
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.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
 
The Fund used futures contracts to manage its exposure to the stock market.
 
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
 
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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