Quarterly Holdings Report
for
Fidelity® Enduring Opportunities Fund
July 31, 2021
Schedule of Investments July 31, 2021 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.8% | |||
Shares | Value | ||
COMMUNICATION SERVICES - 9.2% | |||
Diversified Telecommunication Services - 0.2% | |||
Elisa Corp. (A Shares) | 533 | $34,256 | |
Entertainment - 1.7% | |||
Live Nation Entertainment, Inc. (a) | 545 | 42,995 | |
Netflix, Inc. (a) | 219 | 113,348 | |
Sea Ltd. ADR (a) | 124 | 34,244 | |
The Walt Disney Co. (a) | 803 | 141,344 | |
331,931 | |||
Interactive Media & Services - 6.3% | |||
Adevinta ASA Class B (a) | 1,705 | 32,779 | |
Alphabet, Inc.: | |||
Class A (a) | 95 | 255,980 | |
Class C (a) | 93 | 251,511 | |
Facebook, Inc. Class A (a) | 810 | 288,603 | |
Hemnet Group AB (a) | 1,487 | 32,103 | |
Kakao Corp. | 477 | 60,827 | |
Match Group, Inc. (a) | 369 | 58,771 | |
NAVER Corp. | 122 | 45,879 | |
Rightmove PLC | 2,638 | 25,748 | |
Tencent Holdings Ltd. | 2,094 | 126,285 | |
Yandex NV Series A (a) | 477 | 32,403 | |
Z Holdings Corp. | 6,391 | 31,988 | |
1,242,877 | |||
Media - 1.0% | |||
Cable One, Inc. | 24 | 45,312 | |
Charter Communications, Inc. Class A (a) | 103 | 76,637 | |
Schibsted ASA (A Shares) | 634 | 33,613 | |
The New York Times Co. Class A | 1,034 | 45,269 | |
200,831 | |||
TOTAL COMMUNICATION SERVICES | 1,809,895 | ||
CONSUMER DISCRETIONARY - 18.2% | |||
Auto Components - 0.6% | |||
Aptiv PLC (a) | 354 | 59,065 | |
DENSO Corp. | 720 | 49,465 | |
108,530 | |||
Automobiles - 1.8% | |||
Ferrari NV | 180 | 39,257 | |
Maruti Suzuki India Ltd. | 374 | 35,103 | |
Tesla, Inc. (a) | 296 | 203,411 | |
Toyota Motor Corp. | 902 | 80,977 | |
358,748 | |||
Diversified Consumer Services - 0.4% | |||
Arco Platform Ltd. Class A (a) | 1,110 | 32,301 | |
Grand Canyon Education, Inc. (a) | 532 | 49,141 | |
81,442 | |||
Hotels, Restaurants & Leisure - 3.1% | |||
Airbnb, Inc. Class A | 346 | 49,827 | |
Churchill Downs, Inc. | 241 | 44,778 | |
Compass Group PLC (a) | 2,115 | 44,715 | |
Domino's Pizza, Inc. | 124 | 65,161 | |
Hilton Worldwide Holdings, Inc. (a) | 539 | 70,852 | |
Jollibee Food Corp. | 6,319 | 24,039 | |
Marriott International, Inc. Class A (a) | 476 | 69,486 | |
Oriental Land Co. Ltd. | 240 | 32,706 | |
Starbucks Corp. | 739 | 89,737 | |
Wingstop, Inc. | 330 | 56,532 | |
Yum! Brands, Inc. | 494 | 64,907 | |
612,740 | |||
Household Durables - 0.5% | |||
Maytronics Ltd. | 1,423 | 30,991 | |
NVR, Inc. (a) | 11 | 57,449 | |
88,440 | |||
Internet & Direct Marketing Retail - 4.7% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 606 | 118,285 | |
Amazon.com, Inc. (a) | 135 | 449,225 | |
Deliveroo PLC Class A (a)(b) | 7,740 | 35,503 | |
Delivery Hero AG (a)(b) | 289 | 43,265 | |
Doordash, Inc. | 278 | 48,453 | |
Meituan Class B (a)(b) | 1,862 | 51,524 | |
MercadoLibre, Inc. (a) | 38 | 59,611 | |
Naspers Ltd. Class N | 283 | 54,613 | |
Ocado Group PLC (a) | 1,202 | 30,993 | |
Wayfair LLC Class A (a) | 162 | 39,100 | |
930,572 | |||
Leisure Products - 0.2% | |||
Roland Corp. | 834 | 39,531 | |
Multiline Retail - 0.5% | |||
B&M European Value Retail SA | 5,210 | 40,048 | |
Dollarama, Inc. | 754 | 35,506 | |
Next PLC | 254 | 27,828 | |
103,382 | |||
Specialty Retail - 3.9% | |||
Carvana Co. Class A (a) | 220 | 74,263 | |
Fast Retailing Co. Ltd. | 56 | 37,979 | |
Five Below, Inc. (a) | 217 | 42,189 | |
Floor & Decor Holdings, Inc. Class A (a) | 552 | 67,350 | |
JD Sports Fashion PLC | 2,445 | 30,485 | |
Lowe's Companies, Inc. | 466 | 89,794 | |
National Vision Holdings, Inc. (a) | 922 | 49,770 | |
Nitori Holdings Co. Ltd. | 241 | 45,808 | |
The Home Depot, Inc. | 449 | 147,357 | |
TJX Companies, Inc. | 971 | 66,815 | |
Ulta Beauty, Inc. (a) | 175 | 58,765 | |
WH Smith PLC (a) | 1,410 | 31,848 | |
Workman Co. Ltd. | 398 | 27,391 | |
769,814 | |||
Textiles, Apparel & Luxury Goods - 2.5% | |||
adidas AG | 132 | 47,931 | |
Hermes International SCA | 29 | 44,343 | |
lululemon athletica, Inc. (a) | 156 | 62,427 | |
LVMH Moet Hennessy Louis Vuitton SE | 116 | 92,877 | |
Moncler SpA | 705 | 48,506 | |
NIKE, Inc. Class B | 626 | 104,861 | |
PVH Corp. (a) | 447 | 46,765 | |
Shenzhou International Group Holdings Ltd. | 1,954 | 43,366 | |
491,076 | |||
TOTAL CONSUMER DISCRETIONARY | 3,584,275 | ||
CONSUMER STAPLES - 5.1% | |||
Beverages - 1.3% | |||
Ambev SA | 9,404 | 30,045 | |
China Resources Beer Holdings Co. Ltd. | 4,105 | 30,717 | |
Davide Campari Milano NV | 3,205 | 45,091 | |
Fever-Tree Drinks PLC | 790 | 26,256 | |
Kweichow Moutai Co. Ltd. (A Shares) | 97 | 25,205 | |
Monster Beverage Corp. (a) | 614 | 57,912 | |
Pernod Ricard SA | 213 | 47,022 | |
262,248 | |||
Food & Staples Retailing - 2.3% | |||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) | 1,003 | 40,430 | |
Avenue Supermarts Ltd. (a)(b) | 932 | 43,887 | |
Casey's General Stores, Inc. | 237 | 46,857 | |
Clicks Group Ltd. | 1,968 | 35,606 | |
Costco Wholesale Corp. | 248 | 106,571 | |
Wal-Mart de Mexico SA de CV Series V | 12,024 | 39,637 | |
Walmart, Inc. | 758 | 108,053 | |
Welcia Holdings Co. Ltd. | 952 | 32,325 | |
453,366 | |||
Food Products - 0.6% | |||
Barry Callebaut AG | 13 | 32,950 | |
Cranswick PLC | 421 | 23,700 | |
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) | 1,326 | 23,526 | |
Vietnam Dairy Products Corp. | 8,204 | 30,772 | |
110,948 | |||
Household Products - 0.2% | |||
Unicharm Corp. | 837 | 33,433 | |
Personal Products - 0.7% | |||
Kao Corp. | 532 | 32,032 | |
L'Oreal SA | 140 | 64,049 | |
Shiseido Co. Ltd. | 611 | 40,837 | |
136,918 | |||
TOTAL CONSUMER STAPLES | 996,913 | ||
ENERGY - 1.2% | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Cheniere Energy, Inc. (a) | 779 | 66,160 | |
Hess Corp. | 671 | 51,291 | |
Parkland Corp. | 990 | 31,511 | |
PrairieSky Royalty Ltd. | 2,281 | 25,560 | |
Reliance Industries Ltd. | 1,962 | 53,714 | |
228,236 | |||
FINANCIALS - 10.5% | |||
Banks - 3.3% | |||
Bank of America Corp. | 3,488 | 133,800 | |
Credicorp Ltd. (United States) (a) | 84 | 8,481 | |
FinecoBank SpA (a) | 1,498 | 26,859 | |
First Republic Bank | 379 | 73,913 | |
HDFC Bank Ltd. | 1,650 | 31,783 | |
JPMorgan Chase & Co. | 1,193 | 181,074 | |
KBC Groep NV | 516 | 41,562 | |
Kotak Mahindra Bank Ltd. (a) | 1,336 | 29,738 | |
PNC Financial Services Group, Inc. | 400 | 72,964 | |
PT Bank Central Asia Tbk | 18,970 | 39,153 | |
639,327 | |||
Capital Markets - 4.8% | |||
Amundi SA (b) | 352 | 32,528 | |
Avanza Bank Holding AB | 845 | 27,367 | |
Bolsa Mexicana de Valores S.A.B. de CV | 15,822 | 32,294 | |
Brookfield Asset Management, Inc. (Canada) Class A | 1,118 | 60,354 | |
Charles Schwab Corp. | 1,323 | 89,898 | |
CME Group, Inc. | 332 | 70,427 | |
HDFC Asset Management Co. Ltd. (b) | 865 | 33,209 | |
Houlihan Lokey | 652 | 58,093 | |
HUB24 Ltd. | 1,381 | 24,384 | |
Moody's Corp. | 198 | 74,448 | |
Morningstar, Inc. | 253 | 63,915 | |
MSCI, Inc. | 123 | 73,303 | |
Netwealth Group Ltd. | 2,321 | 26,639 | |
Partners Group Holding AG | 21 | 35,898 | |
Raymond James Financial, Inc. | 388 | 50,238 | |
S&P Global, Inc. | 177 | 75,883 | |
St. James's Place Capital PLC | 2,463 | 54,332 | |
Value Partners Group Ltd. | 56,177 | 32,241 | |
VZ Holding AG | 313 | 28,230 | |
943,681 | |||
Consumer Finance - 0.3% | |||
Bajaj Finance Ltd. | 641 | 53,700 | |
Insurance - 1.9% | |||
Arthur J. Gallagher & Co. | 435 | 60,600 | |
Assurant, Inc. | 346 | 54,602 | |
Chubb Ltd. | 401 | 67,665 | |
Hannover Reuck SE | 179 | 30,131 | |
HDFC Standard Life Insurance Co. Ltd. (b) | 3,796 | 33,907 | |
Lifenet Insurance Co. (a) | 2,472 | 25,462 | |
Linea Directa Aseguradora SA Compania de Seguros y Reaseguros | 12,910 | 26,065 | |
Qualitas Controladora S.A.B. de CV | 6,030 | 29,350 | |
RenaissanceRe Holdings Ltd. | 293 | 44,738 | |
372,520 | |||
Thrifts & Mortgage Finance - 0.2% | |||
Housing Development Finance Corp. Ltd. | 1,475 | 48,433 | |
TOTAL FINANCIALS | 2,057,661 | ||
HEALTH CARE - 8.0% | |||
Biotechnology - 0.5% | |||
Abcam PLC (a) | 1,501 | 28,380 | |
Xencor, Inc. (a) | 1,413 | 43,492 | |
Zai Lab Ltd. (a) | 178 | 24,992 | |
96,864 | |||
Health Care Equipment & Supplies - 4.0% | |||
Align Technology, Inc. (a) | 101 | 70,276 | |
Boston Scientific Corp. (a) | 1,653 | 75,377 | |
Coloplast A/S Series B | 212 | 38,776 | |
Danaher Corp. | 353 | 105,014 | |
Fisher & Paykel Healthcare Corp. | 1,551 | 34,092 | |
Hoya Corp. | 345 | 48,446 | |
IDEXX Laboratories, Inc. (a) | 109 | 73,960 | |
Intuitive Surgical, Inc. (a) | 89 | 88,240 | |
Masimo Corp. (a) | 196 | 53,388 | |
ResMed, Inc. | 255 | 69,309 | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares) | 400 | 24,165 | |
Straumann Holding AG | 23 | 42,656 | |
The Cooper Companies, Inc. | 140 | 59,048 | |
782,747 | |||
Health Care Providers & Services - 1.4% | |||
Chemed Corp. | 105 | 49,982 | |
Humana, Inc. | 144 | 61,324 | |
UnitedHealth Group, Inc. | 392 | 161,590 | |
272,896 | |||
Health Care Technology - 0.3% | |||
Veeva Systems, Inc. Class A (a) | 189 | 62,882 | |
Life Sciences Tools & Services - 1.6% | |||
10X Genomics, Inc. (a) | 313 | 57,351 | |
Lonza Group AG | 57 | 44,382 | |
Maravai LifeSciences Holdings, Inc. | 1,290 | 56,721 | |
Mettler-Toledo International, Inc. (a) | 42 | 61,896 | |
Sartorius Stedim Biotech | 76 | 43,392 | |
Wuxi Biologics (Cayman), Inc. (a)(b) | 3,869 | 59,096 | |
322,838 | |||
Pharmaceuticals - 0.2% | |||
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) | 3,382 | 28,463 | |
TOTAL HEALTH CARE | 1,566,690 | ||
INDUSTRIALS - 15.4% | |||
Aerospace & Defense - 1.0% | |||
Axon Enterprise, Inc. (a) | 235 | 43,715 | |
INVISIO AB | 1,505 | 31,190 | |
Northrop Grumman Corp. | 190 | 68,974 | |
Teledyne Technologies, Inc. (a) | 131 | 59,313 | |
203,192 | |||
Air Freight & Logistics - 1.4% | |||
C.H. Robinson Worldwide, Inc. | 515 | 45,923 | |
Deutsche Post AG | 929 | 62,960 | |
DSV Panalpina A/S | 243 | 59,210 | |
Expeditors International of Washington, Inc. | 520 | 66,690 | |
ZTO Express, Inc. sponsored ADR | 1,165 | 31,525 | |
266,308 | |||
Airlines - 0.1% | |||
Ryanair Holdings PLC sponsored ADR (a) | 252 | 27,478 | |
Building Products - 1.8% | |||
Allegion PLC | 418 | 57,099 | |
Armstrong World Industries, Inc. | 583 | 63,069 | |
ASSA ABLOY AB (B Shares) | 1,546 | 49,590 | |
Belimo Holding AG (Reg.) | 60 | 30,999 | |
Kingspan Group PLC (Ireland) | 405 | 44,056 | |
The AZEK Co., Inc. (a) | 1,125 | 40,916 | |
Trex Co., Inc. (a) | 580 | 56,318 | |
342,047 | |||
Commercial Services & Supplies - 1.0% | |||
Cintas Corp. | 151 | 59,521 | |
Copart, Inc. (a) | 466 | 68,502 | |
Prosegur Compania de Seguridad SA (Reg.) | 6,872 | 23,478 | |
Waste Connection, Inc. (Canada) | 284 | 35,978 | |
187,479 | |||
Electrical Equipment - 1.0% | |||
AMETEK, Inc. | 427 | 59,374 | |
Generac Holdings, Inc. (a) | 141 | 59,130 | |
Nidec Corp. | 397 | 44,561 | |
Somfy SA | 212 | 40,489 | |
203,554 | |||
Industrial Conglomerates - 0.8% | |||
Honeywell International, Inc. | 369 | 86,269 | |
Roper Technologies, Inc. | 130 | 63,874 | |
150,143 | |||
Machinery - 3.5% | |||
Atlas Copco AB (A Shares) | 713 | 48,205 | |
ESCO Technologies, Inc. | 449 | 42,372 | |
Fortive Corp. | 712 | 51,734 | |
Haitian International Holdings Ltd. | 9,898 | 36,236 | |
IDEX Corp. | 254 | 57,579 | |
Indutrade AB | 1,221 | 39,828 | |
Kone OYJ (B Shares) | 454 | 37,602 | |
Kornit Digital Ltd. (a) | 293 | 38,723 | |
Metawater Co. Ltd. | 1,369 | 24,983 | |
Minebea Mitsumi, Inc. | 1,154 | 31,159 | |
Miura Co. Ltd. | 690 | 30,284 | |
Rational AG | 25 | 27,159 | |
Schindler Holding AG (participation certificate) | 107 | 34,633 | |
Shenzhen Inovance Technology Co. Ltd. (A Shares) | 4,026 | 48,513 | |
SMC Corp. | 59 | 34,850 | |
Spirax-Sarco Engineering PLC | 231 | 48,196 | |
Tocalo Co. Ltd. | 1,809 | 22,574 | |
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares) | 9,896 | 32,775 | |
687,405 | |||
Marine - 0.2% | |||
SITC International Holdings Co. Ltd. | 11,221 | 46,206 | |
Professional Services - 3.4% | |||
BayCurrent Consulting, Inc. | 108 | 42,824 | |
Centre Testing International Group Co. Ltd. (A Shares) | 5,100 | 21,429 | |
CoStar Group, Inc. (a) | 592 | 52,599 | |
Equifax, Inc. | 297 | 77,398 | |
Experian PLC | 1,068 | 47,020 | |
Exponent, Inc. | 564 | 60,399 | |
Funai Soken Holdings, Inc. | 1,044 | 23,867 | |
Headhunter Group PLC ADR | 629 | 26,814 | |
IR Japan Holdings Ltd. | 218 | 26,926 | |
Recruit Holdings Co. Ltd. | 1,073 | 55,614 | |
RELX PLC (London Stock Exchange) | 1,714 | 50,365 | |
SaraminHR Co. Ltd. | 832 | 35,690 | |
Sporton International, Inc. | 3,648 | 31,603 | |
TriNet Group, Inc. (a) | 585 | 48,543 | |
Verisk Analytics, Inc. | 320 | 60,781 | |
661,872 | |||
Road & Rail - 0.3% | |||
Old Dominion Freight Lines, Inc. | 242 | 65,134 | |
Trading Companies & Distributors - 0.9% | |||
AddTech AB (B Shares) | 1,875 | 38,988 | |
Ashtead Group PLC | 598 | 44,770 | |
IMCD NV | 160 | 27,711 | |
MonotaRO Co. Ltd. | 1,040 | 23,852 | |
SiteOne Landscape Supply, Inc. (a) | 283 | 49,463 | |
184,784 | |||
TOTAL INDUSTRIALS | 3,025,602 | ||
INFORMATION TECHNOLOGY - 22.3% | |||
Communications Equipment - 0.3% | |||
Lumentum Holdings, Inc. (a) | 614 | 51,570 | |
Electronic Equipment & Components - 2.5% | |||
Amphenol Corp. Class A | 870 | 63,066 | |
Azbil Corp. | 673 | 26,103 | |
CDW Corp. | 356 | 65,273 | |
Cognex Corp. | 740 | 66,903 | |
Keyence Corp. | 104 | 57,581 | |
Lagercrantz Group AB (B Shares) | 2,472 | 33,770 | |
Murata Manufacturing Co. Ltd. | 570 | 47,302 | |
Renishaw PLC | 358 | 25,428 | |
Sunny Optical Technology Group Co. Ltd. | 1,456 | 44,067 | |
Zebra Technologies Corp. Class A (a) | 127 | 70,165 | |
499,658 | |||
IT Services - 3.6% | |||
Adyen BV (a)(b) | 17 | 46,071 | |
Afterpay Ltd. (a) | 445 | 31,566 | |
Amadeus IT Holding SA Class A (a) | 592 | 38,793 | |
Capgemini SA | 211 | 45,617 | |
Econocom Group SA | 7,918 | 34,424 | |
Edenred SA | 518 | 30,097 | |
EPAM Systems, Inc. (a) | 123 | 68,855 | |
FDM Group Holdings PLC | 2,000 | 32,915 | |
GMO Internet, Inc. | 975 | 25,605 | |
Kainos Group PLC | 1,117 | 26,814 | |
Keywords Studios PLC (a) | 1,031 | 42,018 | |
Maximus, Inc. | 627 | 55,803 | |
Reply SpA | 243 | 43,441 | |
SHIFT, Inc. (a) | 223 | 40,817 | |
Shopify, Inc. (a) | 16 | 23,999 | |
Softcat PLC | 1,168 | 31,383 | |
StoneCo Ltd. Class A (a) | 601 | 35,363 | |
VeriSign, Inc. (a) | 240 | 51,929 | |
705,510 | |||
Semiconductors & Semiconductor Equipment - 4.3% | |||
ASM International NV (Netherlands) | 112 | 39,712 | |
ASML Holding NV (Netherlands) | 165 | 126,123 | |
BE Semiconductor Industries NV | 315 | 27,629 | |
Disco Corp. | 127 | 36,061 | |
eMemory Technology, Inc. | 1,059 | 49,858 | |
Entegris, Inc. | 463 | 55,856 | |
Lam Research Corp. | 113 | 72,027 | |
Monolithic Power Systems, Inc. | 126 | 56,607 | |
Silergy Corp. | 265 | 35,991 | |
Silicon Laboratories, Inc. (a) | 110 | 16,389 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 8,283 | 173,278 | |
Teradyne, Inc. | 396 | 50,292 | |
Tokyo Electron Ltd. | 112 | 46,192 | |
Universal Display Corp. | 246 | 57,685 | |
843,700 | |||
Software - 11.6% | |||
Admicom OYJ | 224 | 24,845 | |
Adobe, Inc. (a) | 228 | 141,732 | |
Altium Ltd. | 1,384 | 34,430 | |
ANSYS, Inc. (a) | 163 | 60,059 | |
Atlassian Corp. PLC (a) | 126 | 40,965 | |
ATOSS Software AG | 180 | 36,641 | |
Black Knight, Inc. (a) | 579 | 47,947 | |
Cadence Design Systems, Inc. (a) | 446 | 65,852 | |
Ceridian HCM Holding, Inc. (a) | 462 | 45,461 | |
Constellation Software, Inc. | 26 | 41,647 | |
Coupa Software, Inc. (a) | 227 | 49,259 | |
CyberArk Software Ltd. (a) | 239 | 33,945 | |
Dassault Systemes SA | 941 | 51,928 | |
Digital Turbine, Inc. (a) | 726 | 45,702 | |
Fortnox AB | 645 | 34,601 | |
Manhattan Associates, Inc. (a) | 437 | 69,758 | |
Microsoft Corp. | 2,218 | 631,925 | |
Ming Yuan Cloud Group Holdings Ltd. | 5,507 | 20,551 | |
Money Forward, Inc. (a) | 669 | 41,163 | |
Nemetschek Se | 361 | 31,878 | |
Netcompany Group A/S (b) | 235 | 29,042 | |
Paycom Software, Inc. (a) | 160 | 64,000 | |
PROS Holdings, Inc. (a) | 1,069 | 46,416 | |
Salesforce.com, Inc. (a) | 465 | 112,497 | |
SAP SE | 473 | 67,881 | |
ServiceNow, Inc. (a) | 136 | 79,953 | |
SimCorp A/S | 170 | 23,628 | |
Synopsys, Inc. (a) | 230 | 66,238 | |
TeamViewer AG (a)(b) | 756 | 25,424 | |
Temenos Group AG | 213 | 33,860 | |
Topicus.Com, Inc. | 541 | 40,761 | |
Tyler Technologies, Inc. (a) | 113 | 55,668 | |
Workday, Inc. Class A (a) | 239 | 56,022 | |
Xero Ltd. (a) | 369 | 37,987 | |
2,289,666 | |||
TOTAL INFORMATION TECHNOLOGY | 4,390,104 | ||
MATERIALS - 3.7% | |||
Chemicals - 3.3% | |||
Air Products & Chemicals, Inc. | 237 | 68,974 | |
Albemarle Corp. U.S. | 352 | 72,526 | |
Asian Paints Ltd. | 799 | 31,796 | |
Ecolab, Inc. | 257 | 56,753 | |
Givaudan SA | 8 | 39,936 | |
Linde PLC | 253 | 77,770 | |
NOF Corp. | 528 | 26,712 | |
Quaker Chemical Corp. | 209 | 52,614 | |
Sherwin-Williams Co. | 252 | 73,340 | |
Shin-Etsu Chemical Co. Ltd. | 270 | 44,045 | |
Sika AG | 174 | 61,294 | |
Symrise AG | 240 | 35,388 | |
641,148 | |||
Construction Materials - 0.2% | |||
James Hardie Industries PLC CDI | 1,279 | 42,922 | |
Metals & Mining - 0.2% | |||
Lynas Rare Earths Ltd. (a) | 6,911 | 37,226 | |
TOTAL MATERIALS | 721,296 | ||
REAL ESTATE - 4.3% | |||
Equity Real Estate Investment Trusts (REITs) - 3.3% | |||
American Tower Corp. | 296 | 83,709 | |
ARGAN SA | 203 | 26,489 | |
Big Yellow Group PLC | 1,270 | 25,632 | |
Embassy Office Parks (REIT) | 7,800 | 37,958 | |
Equinix, Inc. | 87 | 71,376 | |
Equity Lifestyle Properties, Inc. | 814 | 68,213 | |
Extra Space Storage, Inc. | 432 | 75,228 | |
Irish Residential Properties REIT PLC | 16,430 | 30,015 | |
National Storage REIT unit | 15,304 | 23,922 | |
Prologis (REIT), Inc. | 613 | 78,489 | |
Safestore Holdings PLC | 1,891 | 27,757 | |
Sun Communities, Inc. | 345 | 67,658 | |
Warehouses de Pauw | 639 | 27,501 | |
643,947 | |||
Real Estate Management & Development - 1.0% | |||
Amasten Fastighets AB (a) | 19,565 | 25,091 | |
Ayala Land, Inc. | 46,862 | 30,682 | |
CBRE Group, Inc. (a) | 637 | 61,445 | |
Colliers International Group, Inc. | 229 | 29,383 | |
Longfor Properties Co. Ltd. (b) | 6,325 | 29,504 | |
Oberoi Realty Ltd. (a) | 3,350 | 30,299 | |
206,404 | |||
TOTAL REAL ESTATE | 850,351 | ||
UTILITIES - 0.9% | |||
Electric Utilities - 0.6% | |||
Equatorial Energia SA | 7,599 | 35,309 | |
NextEra Energy, Inc. | 1,076 | 83,820 | |
119,129 | |||
Water Utilities - 0.3% | |||
American Water Works Co., Inc. | 325 | 55,286 | |
TOTAL UTILITIES | 174,415 | ||
TOTAL COMMON STOCKS | |||
(Cost $14,551,289) | 19,405,438 | ||
Nonconvertible Preferred Stocks - 0.2% | |||
HEALTH CARE - 0.2% | |||
Health Care Equipment & Supplies - 0.2% | |||
Sartorius AG (non-vtg.) | |||
(Cost $18,810) | 72 | 43,542 | |
Money Market Funds - 1.0% | |||
Fidelity Cash Central Fund 0.06% (c) | |||
(Cost $200,089) | 200,049 | 200,089 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% | |||
(Cost $14,770,188) | 19,649,069 | ||
NET OTHER ASSETS (LIABILITIES) - 0.0% | (2,619) | ||
NET ASSETS - 100% | $19,646,450 |
Legend
(a) Non-income producing
(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $462,960 or 2.4% of net assets.
(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.
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 | $147 |
Total | $147 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Fund | Value, beginning of period | Purchases | Sales Proceeds | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
Fidelity Cash Central Fund 0.06% | $165,944 | $5,803,776 | $5,769,624 | $(7) | $-- | $200,089 | 0.0% |
Total | $165,944 | $5,803,776 | $5,769,624 | $(7) | $-- | $200,089 |
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. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's 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 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 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 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 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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