NPORT-EX 2 QTLY_7545_20231130.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Enhanced Small Cap ETF
November 30, 2023
CPE-NPRT3-0124
1.9910071.100
Common Stocks - 97.0%
 
  
Shares
Value ($)
 
COMMUNICATION SERVICES - 3.0%
 
  
  
Diversified Telecommunication Services - 0.7%
  
  
  
Bandwidth, Inc. (a)
  
84,560
928,469
EchoStar Holding Corp. Class A (a)
  
48,986
512,883
Lumen Technologies, Inc. (a)
  
633,188
829,476
Ooma, Inc. (a)
  
70,956
823,090
 
  
  
3,093,918
Entertainment - 0.6%
  
  
  
Lions Gate Entertainment Corp.:
  
  
  
 Class A (a)
  
102,473
904,837
 Class B (a)
  
112,581
941,177
Madison Square Garden Entertainment Corp.
 
32,679
989,520
 
  
  
2,835,534
Interactive Media & Services - 1.0%
  
  
  
Eventbrite, Inc. (a)
  
26,530
187,037
TrueCar, Inc. (a)
  
184,791
515,567
Vimeo, Inc. (a)
  
330,691
1,164,032
Yelp, Inc. (a)
  
64,006
2,797,702
Zedge, Inc. (a)
  
20,492
36,066
 
  
  
4,700,404
Media - 0.3%
  
  
  
John Wiley & Sons, Inc. Class A
 
17,100
516,591
TEGNA, Inc.
 
42,982
658,914
 
  
  
1,175,505
Wireless Telecommunication Services - 0.4%
  
  
  
Telephone & Data Systems, Inc.
 
92,619
1,824,594
TOTAL COMMUNICATION SERVICES
  
  
13,629,955
CONSUMER DISCRETIONARY - 11.2%
 
  
  
Automobile Components - 0.3%
  
  
  
American Axle & Manufacturing Holdings, Inc. (a)
  
37,195
258,877
Cooper-Standard Holding, Inc. (a)
  
34,939
619,818
Standard Motor Products, Inc.
 
4,249
152,837
Visteon Corp. (a)
  
4,173
495,210
 
  
  
1,526,742
Automobiles - 0.6%
  
  
  
Winnebago Industries, Inc.
 
43,012
2,779,866
Broadline Retail - 0.7%
  
  
  
ContextLogic, Inc. (a)(b)
  
232,459
1,171,593
Dillard's, Inc. Class A (b)
  
6,330
2,197,080
 
  
  
3,368,673
Diversified Consumer Services - 1.2%
  
  
  
2U, Inc. (a)
  
159,593
156,784
Coursera, Inc. (a)
  
59,675
1,178,581
Duolingo, Inc. (a)
  
10,933
2,320,967
Frontdoor, Inc. (a)
  
45,326
1,556,042
 
  
  
5,212,374
Hotels, Restaurants & Leisure - 1.8%
  
  
  
Carrols Restaurant Group, Inc.
 
99,194
748,915
Dine Brands Global, Inc.
 
2,984
129,714
Everi Holdings, Inc. (a)
  
69,904
730,497
International Game Technology PLC
 
76,582
2,047,037
Red Robin Gourmet Burgers, Inc. (a)
  
50,418
446,703
Sabre Corp. (a)
  
278,648
983,627
Texas Roadhouse, Inc. Class A
 
1,434
161,411
Wingstop, Inc.
 
11,445
2,750,920
 
  
  
7,998,824
Household Durables - 3.2%
  
  
  
Cavco Industries, Inc. (a)
  
4,393
1,242,253
Flexsteel Industries, Inc.
 
15,297
258,672
Green Brick Partners, Inc. (a)
  
27,463
1,303,119
Installed Building Products, Inc. (b)
  
23,422
3,525,245
KB Home
 
13,188
687,095
M.D.C. Holdings, Inc.
 
23,493
1,039,800
M/I Homes, Inc. (a)
  
29,893
3,154,010
Meritage Homes Corp.
 
5,619
793,965
Taylor Morrison Home Corp. (a)
  
23,837
1,075,049
TRI Pointe Homes, Inc. (a)
  
40,663
1,186,546
 
  
  
14,265,754
Leisure Products - 0.1%
  
  
  
Bowflex, Inc. (a)
  
101,906
62,652
Johnson Outdoors, Inc. Class A
 
3,151
165,554
Sturm, Ruger & Co., Inc.
 
2,445
107,482
 
  
  
335,688
Specialty Retail - 3.2%
  
  
  
Abercrombie & Fitch Co. Class A (a)
  
30,645
2,325,649
Asbury Automotive Group, Inc. (a)
  
3,393
711,919
CarParts.com, Inc. (a)
  
176,940
541,436
Carvana Co. Class A (a)
  
14,632
458,274
Group 1 Automotive, Inc. (b)
  
2,263
638,392
Murphy U.S.A., Inc.
 
6,374
2,355,512
National Vision Holdings, Inc. (a)
  
67,763
1,250,227
Sally Beauty Holdings, Inc. (a)
  
93,418
903,352
Sonic Automotive, Inc. Class A (sub. vtg.) (b)
  
30,327
1,554,865
Stitch Fix, Inc. (a)
  
80,392
300,666
The Container Store Group, Inc. (a)
  
73,231
137,674
The ODP Corp. (a)
  
48,163
2,193,825
Urban Outfitters, Inc. (a)
  
28,574
1,020,092
Winmark Corp.
 
419
180,170
 
  
  
14,572,053
Textiles, Apparel & Luxury Goods - 0.1%
  
  
  
Lakeland Industries, Inc.
 
20,140
294,245
Rocky Brands, Inc.
 
7,381
213,089
 
  
  
507,334
TOTAL CONSUMER DISCRETIONARY
  
  
50,567,308
CONSUMER STAPLES - 2.1%
 
  
  
Beverages - 1.2%
  
  
  
Coca-Cola Bottling Co. Consolidated
 
4,450
3,268,614
Primo Water Corp.
 
166,520
2,392,892
 
  
  
5,661,506
Consumer Staples Distribution & Retail - 0.4%
  
  
  
Andersons, Inc.
 
7,261
362,033
Ingles Markets, Inc. Class A
 
10,907
890,229
Natural Grocers by Vitamin Cottage, Inc.
 
18,215
285,793
PriceSmart, Inc.
 
2,153
145,091
 
  
  
1,683,146
Food Products - 0.2%
  
  
  
Calavo Growers, Inc.
 
6,301
136,669
Fresh Del Monte Produce, Inc.
 
20,116
458,645
The J.M. Smucker Co.
 
457
50,147
Vital Farms, Inc. (a)
  
12,105
161,239
 
  
  
806,700
Personal Care Products - 0.2%
  
  
  
elf Beauty, Inc. (a)
  
5,279
623,397
Herbalife Ltd. (a)
  
11,098
142,942
Nu Skin Enterprises, Inc. Class A
 
17,500
297,850
 
  
  
1,064,189
Tobacco - 0.1%
  
  
  
Turning Point Brands, Inc.
 
16,435
375,211
TOTAL CONSUMER STAPLES
  
  
9,590,752
ENERGY - 7.1%
 
  
  
Energy Equipment & Services - 2.4%
  
  
  
Archrock, Inc.
 
21,157
306,565
Borr Drilling Ltd. (a)
  
26,199
165,054
Bristow Group, Inc. (a)
  
17,236
443,827
Championx Corp.
 
5,356
157,038
DMC Global, Inc. (a)
  
611
9,745
Helix Energy Solutions Group, Inc. (a)
  
126,736
1,181,180
Helmerich & Payne, Inc.
 
5,272
191,005
Nabors Industries Ltd. (a)
  
6,624
575,096
Nabors Industries Ltd. warrants 6/11/26 (a)
  
10,764
129,168
Oceaneering International, Inc. (a)
  
84,128
1,738,084
Oil States International, Inc. (a)
  
37,857
260,835
Patterson-UTI Energy, Inc.
 
35,572
416,548
Tidewater, Inc. (a)
  
37,773
2,269,402
U.S. Silica Holdings, Inc. (a)
  
31,607
356,527
Weatherford International PLC (a)
  
27,954
2,535,148
 
  
  
10,735,222
Oil, Gas & Consumable Fuels - 4.7%
  
  
  
Ardmore Shipping Corp. (b)
  
33,797
459,639
Callon Petroleum Co. (a)
  
40,680
1,272,064
Civitas Resources, Inc.
 
41,250
2,833,463
CONSOL Energy, Inc.
 
3,404
363,105
CVR Energy, Inc.
 
66,091
2,099,711
Delek U.S. Holdings, Inc.
 
57,049
1,548,310
DHT Holdings, Inc.
 
21,236
211,511
Equitrans Midstream Corp.
 
70,569
661,937
Frontline PLC (NY Shares)
 
1,243
24,711
Magnolia Oil & Gas Corp. Class A
 
55,779
1,199,249
Matador Resources Co.
 
56,333
3,260,554
Murphy Oil Corp.
 
76,784
3,284,052
Par Pacific Holdings, Inc. (a)
  
1,822
62,440
PBF Energy, Inc. Class A
 
28,574
1,268,686
Permian Resource Corp. Class A
 
72,982
958,983
Scorpio Tankers, Inc.
 
2,777
152,430
SM Energy Co.
 
5,494
205,750
Teekay Tankers Ltd.
 
16,196
804,779
Vitesse Energy, Inc. (b)
  
25,807
609,819
W&T Offshore, Inc. (b)
  
56,779
189,642
 
  
  
21,470,835
TOTAL ENERGY
  
  
32,206,057
FINANCIALS - 15.6%
 
  
  
Banks - 7.4%
  
  
  
1st Source Corp.
 
12,501
604,173
Ameris Bancorp
 
37,791
1,609,141
Atlantic Union Bankshares Corp.
 
43,680
1,335,298
Axos Financial, Inc. (a)
  
32,425
1,240,905
BancFirst Corp.
 
30,917
2,678,340
Bancorp, Inc., Delaware (a)
  
23,947
934,172
Banner Corp.
 
19,613
885,331
Berkshire Hills Bancorp, Inc.
 
38,159
798,668
Byline Bancorp, Inc.
 
5,536
110,665
Cadence Bank
 
79,312
1,986,766
Capital City Bank Group, Inc.
 
2,442
65,299
Cathay General Bancorp
 
8,458
310,239
Central Pacific Financial Corp.
 
24,636
432,855
City Holding Co.
 
1,817
174,923
Community Trust Bancorp, Inc.
 
7,334
291,820
CVB Financial Corp.
 
57,463
1,027,438
Financial Institutions, Inc.
 
15,429
267,847
First Bancorp, Puerto Rico
 
143,952
2,159,280
First Busey Corp.
 
36,805
798,669
First Commonwealth Financial Corp.
 
24,584
328,688
First Financial Bankshares, Inc.
 
42,001
1,102,526
Fulton Financial Corp.
 
12,093
172,083
Great Southern Bancorp, Inc.
 
23,587
1,198,455
Heartland Financial U.S.A., Inc.
 
7,379
228,232
Lakeland Financial Corp.
 
38,841
2,157,618
Mercantile Bank Corp.
 
3,473
119,436
Midland States Bancorp, Inc.
 
9,054
204,439
NBT Bancorp, Inc.
 
9,219
327,551
Northwest Bancshares, Inc.
 
48,840
544,078
OFG Bancorp
 
28,355
951,594
Peapack-Gladstone Financial Corp.
 
11,620
288,641
Preferred Bank, Los Angeles
 
3,413
210,343
Provident Financial Services, Inc.
 
102,913
1,566,336
Renasant Corp.
 
42,841
1,166,989
Sierra Bancorp
 
14,830
277,914
Simmons First National Corp. Class A
 
33,565
536,704
Stellar Bancorp, Inc.
 
26,553
633,555
Tompkins Financial Corp.
 
4,096
216,965
UMB Financial Corp.
 
13,780
987,475
Univest Corp. of Pennsylvania
 
15,294
288,904
WaFd, Inc.
 
13,106
350,323
WesBanco, Inc.
 
31,447
837,119
Westamerica Bancorp.
 
22,258
1,128,703
 
  
  
33,536,500
Capital Markets - 2.8%
  
  
  
Assetmark Financial Holdings, Inc. (a)
  
56,191
1,440,737
BGC Group, Inc. Class A
 
304,489
1,979,179
Federated Hermes, Inc.
 
71,306
2,268,957
Open Lending Corp. (a)
  
19,046
121,704
Oppenheimer Holdings, Inc. Class A (non-vtg.)
 
5,044
200,802
Stifel Financial Corp.
 
23,903
1,458,561
StoneX Group, Inc. (a)
  
38,214
2,336,022
Virtus Investment Partners, Inc.
 
11,154
2,181,945
WisdomTree Investments, Inc.
 
133,054
866,182
 
  
  
12,854,089
Consumer Finance - 0.7%
  
  
  
EZCORP, Inc. (non-vtg.) Class A (a)(b)
  
12,215
100,163
LendingTree, Inc. (a)
  
21,764
385,223
PRA Group, Inc. (a)
  
19,467
360,724
PROG Holdings, Inc. (a)
  
78,771
2,147,297
Regional Management Corp.
 
12,375
273,735
 
  
  
3,267,142
Financial Services - 1.6%
  
  
  
Compass Diversified Holdings
 
24,817
500,559
Essent Group Ltd.
 
16,967
820,185
Federal Agricultural Mortgage Corp. Class C (non-vtg.)
 
11,064
1,834,854
i3 Verticals, Inc. Class A (a)
  
9,373
188,678
Marqeta, Inc. Class A (a)
  
122,961
780,802
NMI Holdings, Inc. (a)
  
39,822
1,095,105
Paysafe Ltd. (a)
  
57,038
576,654
StoneCo Ltd. Class A (a)
  
56,055
874,458
Waterstone Financial, Inc.
 
29,448
359,560
 
  
  
7,030,855
Insurance - 2.4%
  
  
  
American Equity Investment Life Holding Co.
 
6,634
365,931
Amerisafe, Inc.
 
11,189
538,862
Employers Holdings, Inc.
 
21,350
817,919
Goosehead Insurance (a)
  
36,640
2,684,979
Kinsale Capital Group, Inc.
 
6,047
2,117,055
Oscar Health, Inc. (a)
  
143,425
1,219,113
Selective Insurance Group, Inc.
 
28,515
2,899,690
Trupanion, Inc. (a)(b)
  
6,198
159,413
 
  
  
10,802,962
Mortgage Real Estate Investment Trusts - 0.7%
  
  
  
Apollo Commercial Real Estate Finance, Inc.
 
44,008
474,406
BrightSpire Capital, Inc.
 
35,980
244,304
KKR Real Estate Finance Trust, Inc.
 
117,898
1,480,799
Ladder Capital Corp. Class A
 
41,439
464,531
TPG RE Finance Trust, Inc.
 
68,757
406,354
 
  
  
3,070,394
TOTAL FINANCIALS
  
  
70,561,942
HEALTH CARE - 13.4%
 
  
  
Biotechnology - 5.6%
  
  
  
2seventy bio, Inc. (a)
  
51,903
94,982
Adaptimmune Therapeutics PLC sponsored ADR (a)
  
99,822
49,911
Adicet Bio, Inc. (a)
  
80,194
94,629
Adverum Biotechnologies, Inc. (a)
  
119,568
96,695
Affimed NV (a)
  
81,785
36,803
Agenus, Inc. (a)
  
207,219
161,030
Agios Pharmaceuticals, Inc. (a)
  
2,210
49,128
Akebia Therapeutics, Inc. (a)
  
338,048
358,331
Akero Therapeutics, Inc. (a)
  
24,944
417,563
Alector, Inc. (a)
  
44,330
240,269
Alkermes PLC (a)
  
40,852
986,167
Allakos, Inc. (a)
  
73,084
162,246
Allovir, Inc. (a)
  
74,608
140,263
Altimmune, Inc. (a)(b)
  
38,100
120,396
Amicus Therapeutics, Inc. (a)
  
75,459
831,558
Anika Therapeutics, Inc. (a)
  
5,645
123,682
Annexon, Inc. (a)
  
52,175
129,916
Arbutus Biopharma Corp. (a)
  
77,553
158,984
Arcellx, Inc. (a)
  
5,456
286,604
Arcturus Therapeutics Holdings, Inc. (a)
  
18,231
436,450
Arcus Biosciences, Inc. (a)
  
11,304
170,238
Arcutis Biotherapeutics, Inc. (a)(b)
  
70,354
129,451
Arrowhead Pharmaceuticals, Inc. (a)
  
11,370
241,044
Assembly Biosciences, Inc. (a)
  
88,168
61,726
Atara Biotherapeutics, Inc. (a)(b)
  
141,924
93,670
Atreca, Inc. (a)(b)
  
21,552
4,735
Avid Bioservices, Inc. (a)
  
15,300
77,877
Beam Therapeutics, Inc. (a)
  
6,310
177,185
BioCryst Pharmaceuticals, Inc. (a)
  
71,948
423,054
Biohaven Ltd. (a)
  
21,771
725,410
bluebird bio, Inc. (a)(b)
  
80,707
308,301
Blueprint Medicines Corp. (a)
  
8,209
571,675
Bolt Biotherapeutics, Inc. (a)(b)
  
50,695
43,243
BridgeBio Pharma, Inc. (a)
  
14,632
420,085
C4 Therapeutics, Inc. (a)
  
74,120
120,816
CareDx, Inc. (a)
  
35,287
342,637
Carisma Therapeutics, Inc. (b)
  
15,224
36,538
Carisma Therapeutics, Inc. rights (a)(c)
  
304,482
3
Cartesian Therapeutics, Inc. (a)
  
85,524
115,457
Catalyst Pharmaceutical Partners, Inc. (a)
  
4,079
58,860
Celldex Therapeutics, Inc. (a)
  
3,305
99,844
Cerevel Therapeutics Holdings (a)
  
4,276
110,877
Cogent Biosciences, Inc. (a)
  
17,927
137,500
Coherus BioSciences, Inc. (a)
  
82,014
174,690
Corbus Pharmaceuticals Holdings, Inc. (a)
  
1,977
13,226
Crinetics Pharmaceuticals, Inc. (a)
  
3,923
124,712
Cytokinetics, Inc. (a)
  
11,858
397,006
CytomX Therapeutics, Inc. (a)
  
106,678
148,282
Denali Therapeutics, Inc. (a)
  
15,624
289,356
Design Therapeutics, Inc. (a)
  
42,290
101,496
Disc Medicine, Inc. (a)
  
4,586
253,055
Dynavax Technologies Corp. (a)
  
8,832
120,998
Dyne Therapeutics, Inc. (a)
  
15,509
171,840
Eagle Pharmaceuticals, Inc. (a)
  
11,827
69,188
Editas Medicine, Inc. (a)(b)
  
41,925
441,470
Enanta Pharmaceuticals, Inc. (a)
  
13,500
126,090
Fate Therapeutics, Inc. (a)
  
88,761
221,015
FibroGen, Inc. (a)
  
169,479
93,620
Fortress Biotech, Inc. (a)(b)
  
3,612
7,152
Gritstone Bio, Inc. (a)
  
76,699
99,709
Halozyme Therapeutics, Inc. (a)
  
19,374
748,030
Heron Therapeutics, Inc. (a)(b)
  
175,793
216,225
Homology Medicines, Inc. (a)(b)
  
41,073
21,810
Ideaya Biosciences, Inc. (a)
  
3,651
114,824
ImmunoGen, Inc. (a)
  
31,433
922,559
Immunovant, Inc. (a)
  
6,630
259,432
Insmed, Inc. (a)
  
37,396
935,648
Intellia Therapeutics, Inc. (a)
  
11,355
336,449
Ironwood Pharmaceuticals, Inc. Class A (a)
  
7,869
77,903
Jounce Therapeutics, Inc. rights (a)(c)
  
118,367
1
Kalvista Pharmaceuticals, Inc. (a)
  
24,244
204,619
Karyopharm Therapeutics, Inc. (a)
  
169,383
130,425
Kodiak Sciences, Inc. (a)
  
81,705
197,726
Krystal Biotech, Inc. (a)
  
2,238
233,267
Kura Oncology, Inc. (a)
  
35,251
340,877
Macrogenics, Inc. (a)
  
43,298
355,477
Madrigal Pharmaceuticals, Inc. (a)
  
1,255
255,142
Mersana Therapeutics, Inc. (a)
  
227,836
375,929
MiMedx Group, Inc. (a)
  
44,616
346,666
Mural Oncology PLC
 
4,085
14,747
Mustang Bio, Inc. (a)
  
4,658
6,708
Myriad Genetics, Inc. (a)
  
7,410
141,457
Nkarta, Inc. (a)(b)
  
66,200
174,768
Nurix Therapeutics, Inc. (a)(b)
  
31,948
198,717
Oncternal Therapeutics, Inc. rights (a)(c)
  
1,148
0
Organogenesis Holdings, Inc. Class A (a)
  
52,812
134,671
ORIC Pharmaceuticals, Inc. (a)
  
63,852
504,431
Ovid Therapeutics, Inc. (a)
  
44,108
131,221
Passage Bio, Inc. (a)
  
38,538
24,321
Precigen, Inc. (a)
  
140,393
157,240
Protagonist Therapeutics, Inc. (a)
  
22,255
405,264
Prothena Corp. PLC (a)
  
3,001
97,773
PTC Therapeutics, Inc. (a)
  
20,889
480,865
Puma Biotechnology, Inc. (a)
  
28,309
110,405
RAPT Therapeutics, Inc. (a)
  
8,720
126,614
Recursion Pharmaceuticals, Inc. (a)(b)
  
22,076
151,221
Relay Therapeutics, Inc. (a)
  
19,837
156,911
Revolution Medicines, Inc. (a)
  
12,408
289,479
Rigel Pharmaceuticals, Inc. (a)
  
123,558
140,856
Rocket Pharmaceuticals, Inc. (a)
  
23,281
543,146
Sana Biotechnology, Inc. (a)
  
40,828
165,762
Sangamo Therapeutics, Inc. (a)
  
177,187
76,190
Surface Oncology, Inc. rights (a)(c)
  
60,289
1
Sutro Biopharma, Inc. (a)
  
49,542
129,305
Syndax Pharmaceuticals, Inc. (a)
  
21,982
365,890
Travere Therapeutics, Inc. (a)
  
42,225
265,173
Vanda Pharmaceuticals, Inc. (a)
  
58,866
218,982
Vaxcyte, Inc. (a)
  
14,349
742,848
Vera Therapeutics, Inc. (a)
  
21,953
297,463
Veracyte, Inc. (a)
  
4,940
126,464
Vericel Corp. (a)
  
3,194
113,515
Voyager Therapeutics, Inc. (a)
  
37,315
270,907
Xbiotech, Inc. (a)
  
12,960
50,803
Y-mAbs Therapeutics, Inc. (a)
  
21,928
136,173
Zymeworks, Inc. (a)
  
15,567
138,079
 
  
  
25,460,117
Health Care Equipment & Supplies - 3.8%
  
  
  
Accuray, Inc. (a)
  
245,917
641,843
Angiodynamics, Inc. (a)
  
13,337
87,091
Artivion, Inc. (a)
  
40,507
718,594
Atricure, Inc. (a)
  
52,834
1,874,550
Avanos Medical, Inc. (a)
  
86,897
1,872,630
Cerus Corp. (a)
  
207,212
333,611
Inari Medical, Inc. (a)
  
17,399
1,038,546
Integer Holdings Corp. (a)
  
2,675
233,314
IRadimed Corp.
 
4,332
190,348
Lantheus Holdings, Inc. (a)
  
45,100
3,230,062
LivaNova PLC (a)
  
7,802
349,920
Merit Medical Systems, Inc. (a)
  
30,319
2,169,628
Omnicell, Inc. (a)
  
51,647
1,722,944
SurModics, Inc. (a)
  
24,763
812,722
Tactile Systems Technology, Inc. (a)
  
21,677
288,954
Varex Imaging Corp. (a)
  
18,235
343,730
Zimvie, Inc. (a)
  
154,360
1,458,702
 
  
  
17,367,189
Health Care Providers & Services - 2.0%
  
  
  
23andMe Holding Co. Class A (a)
  
418,382
360,018
Addus HomeCare Corp. (a)
  
6,904
602,029
AMN Healthcare Services, Inc. (a)
  
10,541
714,680
Guardant Health, Inc. (a)
  
35,497
893,459
National Healthcare Corp.
 
15,143
1,159,500
Option Care Health, Inc. (a)
  
105,404
3,135,769
Patterson Companies, Inc.
 
72,465
1,841,336
The Ensign Group, Inc.
 
4,240
453,977
 
  
  
9,160,768
Health Care Technology - 0.4%
  
  
  
HealthStream, Inc.
 
38,708
967,700
Phreesia, Inc. (a)
  
49,354
760,545
 
  
  
1,728,245
Life Sciences Tools & Services - 0.3%
  
  
  
Adaptive Biotechnologies Corp. (a)
  
56,983
249,586
Codexis, Inc. (a)
  
52,093
122,939
Medpace Holdings, Inc. (a)
  
1,707
462,119
Nanostring Technologies, Inc. (a)(b)
  
75,916
37,753
OmniAb, Inc. (a)
  
24,082
105,720
Pacific Biosciences of California, Inc. (a)
  
23,291
197,508
 
  
  
1,175,625
Pharmaceuticals - 1.3%
  
  
  
Amneal Intermediate, Inc. (a)
  
83,480
359,799
Amphastar Pharmaceuticals, Inc. (a)
  
12,937
728,612
Amylyx Pharmaceuticals, Inc. (a)
  
10,967
155,293
Arvinas Holding Co. LLC (a)
  
14,721
323,420
Atea Pharmaceuticals, Inc. (a)
  
39,227
117,289
Axsome Therapeutics, Inc. (a)
  
3,175
214,154
Cara Therapeutics, Inc. (a)
  
95,825
92,653
Corcept Therapeutics, Inc. (a)
  
20,710
527,484
CymaBay Therapeutics, Inc. (a)
  
18,386
351,724
Esperion Therapeutics, Inc. (a)(b)
  
133,227
177,192
Harrow, Inc. (a)(b)
  
10,372
95,734
Intra-Cellular Therapies, Inc. (a)
  
13,951
856,173
NGM Biopharmaceuticals, Inc. (a)
  
28,902
21,587
Ocular Therapeutix, Inc. (a)(b)
  
39,930
99,026
Odonate, Inc. (a)(c)
  
35
105,000
Pacira Biosciences, Inc. (a)
  
9,007
245,711
Prestige Brands Holdings, Inc. (a)
  
15,956
915,077
Relmada Therapeutics, Inc. (a)
  
52,182
128,890
Supernus Pharmaceuticals, Inc. (a)
  
2,528
68,888
Terns Pharmaceuticals, Inc. (a)
  
33,887
150,797
WAVE Life Sciences (a)
  
32,240
171,194
 
  
  
5,905,697
TOTAL HEALTH CARE
  
  
60,797,641
INDUSTRIALS - 18.5%
 
  
  
Aerospace & Defense - 0.4%
  
  
  
AAR Corp. (a)
  
11,003
762,508
Astronics Corp. (a)
  
34,061
505,806
Park Aerospace Corp.
 
10,558
159,215
Rocket Lab U.S.A., Inc. Class A (a)(b)
  
83,646
366,369
Virgin Galactic Holdings, Inc. (a)(b)
  
65,969
147,111
 
  
  
1,941,009
Air Freight & Logistics - 0.5%
  
  
  
Forward Air Corp.
 
35,751
2,271,261
Building Products - 2.0%
  
  
  
American Woodmark Corp. (a)
  
4,140
299,736
Apogee Enterprises, Inc.
 
38,352
1,729,675
Griffon Corp.
 
27,170
1,264,220
Janus International Group, Inc. (a)
  
163,065
1,720,336
Jeld-Wen Holding, Inc. (a)
  
42,406
677,648
Masonite International Corp. (a)
  
2,566
227,989
PGT Innovations, Inc. (a)
  
61,654
1,984,642
Resideo Technologies, Inc. (a)
  
61,108
1,004,004
Simpson Manufacturing Co. Ltd.
 
2,000
333,940
 
  
  
9,242,190
Commercial Services & Supplies - 2.2%
  
  
  
ACV Auctions, Inc. Class A (a)
  
63,056
985,565
Brady Corp. Class A
 
39,324
2,212,761
CECO Environmental Corp. (a)
  
5,800
111,650
Cimpress PLC (a)
  
38,028
2,680,594
Interface, Inc.
 
50,344
508,978
Liquidity Services, Inc. (a)
  
4,801
91,987
Millerknoll, Inc.
 
52,693
1,359,479
The Brink's Co.
 
24,988
1,971,553
 
  
  
9,922,567
Construction & Engineering - 1.8%
  
  
  
Arcosa, Inc.
 
10,922
810,412
Comfort Systems U.S.A., Inc.
 
7,582
1,467,724
Dycom Industries, Inc. (a)
  
4,913
510,313
EMCOR Group, Inc.
 
10,914
2,319,443
Fluor Corp. (a)
  
42,880
1,630,726
Limbach Holdings, Inc. (a)
  
29,833
1,137,234
Sterling Construction Co., Inc. (a)
  
1,865
118,446
 
  
  
7,994,298
Electrical Equipment - 2.7%
  
  
  
Atkore, Inc. (a)
  
20,293
2,636,061
Encore Wire Corp.
 
5,094
938,824
EnerSys
 
32,087
2,839,058
Enovix Corp. (a)(b)
  
7,471
82,704
LSI Industries, Inc.
 
33,667
441,374
Nextracker, Inc. Class A
 
4,860
197,510
Powell Industries, Inc.
 
15,050
1,251,558
Preformed Line Products Co.
 
10,941
1,363,358
Thermon Group Holdings, Inc. (a)
  
77,082
2,324,022
Vicor Corp. (a)
  
3,841
140,465
 
  
  
12,214,934
Ground Transportation - 0.2%
  
  
  
Marten Transport Ltd.
 
37,839
713,265
TuSimple Holdings, Inc. (a)
  
103,200
87,823
 
  
  
801,088
Machinery - 2.5%
  
  
  
Alamo Group, Inc.
 
8,789
1,614,539
Albany International Corp. Class A
 
6,474
555,599
Gorman-Rupp Co.
 
5,077
160,332
Hurco Companies, Inc.
 
17,022
356,951
Hyster-Yale Materials Handling, Inc. Class A
 
21,708
1,034,820
L.B. Foster Co. Class A (a)
  
6,670
133,133
Lindsay Corp.
 
1,275
152,120
Mueller Water Products, Inc. Class A
 
18,147
241,174
Proto Labs, Inc. (a)
  
12,048
436,138
SPX Technologies, Inc. (a)
  
13,574
1,157,998
Tennant Co.
 
8,835
756,453
Terex Corp.
 
21,658
1,072,071
Wabash National Corp.
 
15,243
334,127
Watts Water Technologies, Inc. Class A
 
16,403
3,157,742
 
  
  
11,163,197
Marine Transportation - 0.6%
  
  
  
Matson, Inc.
 
28,525
2,731,839
Passenger Airlines - 0.2%
  
  
  
Joby Aviation, Inc. (a)(b)
  
23,288
138,796
Mesa Air Group, Inc. (a)(b)
  
87,564
63,046
SkyWest, Inc. (a)
  
16,111
761,728
 
  
  
963,570
Professional Services - 3.8%
  
  
  
Barrett Business Services, Inc.
 
21,266
2,338,197
Conduent, Inc. (a)
  
64,335
195,578
CRA International, Inc.
 
8,340
790,382
CSG Systems International, Inc.
 
51,645
2,540,418
ExlService Holdings, Inc. (a)
  
109,490
3,106,231
Heidrick & Struggles International, Inc.
 
25,580
695,264
Huron Consulting Group, Inc. (a)
  
16,440
1,712,555
Insperity, Inc.
 
1,888
214,760
Parsons Corp. (a)
  
45,860
2,856,619
TriNet Group, Inc. (a)
  
1,327
153,839
Ttec Holdings, Inc.
 
25,429
476,031
Upwork, Inc. (a)
  
144,655
2,038,189
 
  
  
17,118,063
Trading Companies & Distributors - 1.6%
  
  
  
Alta Equipment Group, Inc.
 
11,808
112,648
Applied Industrial Technologies, Inc.
 
6,020
963,621
Beacon Roofing Supply, Inc. (a)
  
14,496
1,164,899
Boise Cascade Co.
 
1,585
173,241
DXP Enterprises, Inc. (a)
  
9,389
274,910
Global Industrial Co.
 
31,317
1,115,198
H&E Equipment Services, Inc.
 
37,215
1,648,997
MRC Global, Inc. (a)
  
22,489
232,536
Rush Enterprises, Inc. Class A
 
36,464
1,446,527
Titan Machinery, Inc. (a)
  
5,747
131,376
 
  
  
7,263,953
TOTAL INDUSTRIALS
  
  
83,627,969
INFORMATION TECHNOLOGY - 14.6%
 
  
  
Communications Equipment - 0.2%
  
  
  
CommScope Holding Co., Inc. (a)
  
445,389
743,800
Extreme Networks, Inc. (a)
  
25,705
414,879
 
  
  
1,158,679
Electronic Equipment, Instruments & Components - 3.6%
  
  
  
Arlo Technologies, Inc. (a)
  
25,361
230,531
Badger Meter, Inc.
 
10,620
1,565,069
Bel Fuse, Inc. Class B (non-vtg.)
 
2,589
140,065
Belden, Inc.
 
33,744
2,241,951
Benchmark Electronics, Inc.
 
46,671
1,164,441
ePlus, Inc. (a)
  
2,036
129,245
Fabrinet (a)
  
16,436
2,660,988
FARO Technologies, Inc. (a)
  
21,034
386,395
Itron, Inc. (a)
  
21,271
1,433,240
Kimball Electronics, Inc. (a)
  
58,048
1,430,303
Napco Security Technologies, Inc.
 
11,365
347,769
OSI Systems, Inc. (a)
  
3,804
468,995
PC Connection, Inc.
 
15,941
950,562
Sanmina Corp. (a)
  
55,674
2,789,824
ScanSource, Inc. (a)
  
8,891
297,226
 
  
  
16,236,604
IT Services - 0.0%
  
  
  
Perficient, Inc. (a)
  
2,230
137,992
Semiconductors & Semiconductor Equipment - 2.2%
  
  
  
Axcelis Technologies, Inc. (a)
  
14,085
1,750,484
CEVA, Inc. (a)
  
6,217
135,282
Diodes, Inc. (a)
  
20,103
1,335,241
Lattice Semiconductor Corp. (a)
  
29,625
1,734,544
MaxLinear, Inc. Class A (a)
  
57,780
1,082,219
PDF Solutions, Inc. (a)
  
72,583
2,176,764
Photronics, Inc. (a)
  
42,055
888,622
Rambus, Inc. (a)
  
10,218
691,452
 
  
  
9,794,608
Software - 7.5%
  
  
  
8x8, Inc. (a)
  
473,004
1,461,582
AppFolio, Inc. (a)
  
5,063
958,173
Aurora Innovation, Inc. (a)(b)
  
71,658
156,931
Blackbaud, Inc. (a)
  
19,685
1,481,099
BlackLine, Inc. (a)
  
27,641
1,599,032
Box, Inc. Class A (a)
  
23,928
626,196
CommVault Systems, Inc. (a)
  
40,868
3,007,067
Domo, Inc. Class B (a)
  
138,514
1,314,498
EngageSmart, Inc. (a)
  
18,164
414,321
LivePerson, Inc. (a)
  
265,898
755,150
Liveramp Holdings, Inc. (a)
  
92,516
3,067,831
Pagerduty, Inc. (a)(b)
  
90,252
1,967,494
Progress Software Corp.
 
22,877
1,232,155
PROS Holdings, Inc. (a)
  
24,005
877,383
Q2 Holdings, Inc. (a)
  
81,283
2,887,172
Qualys, Inc. (a)
  
20,795
3,843,748
Rapid7, Inc. (a)
  
25,506
1,381,150
SecureWorks Corp. (a)
  
25,869
154,697
Sprout Social, Inc. (a)
  
12,676
721,264
SPS Commerce, Inc. (a)
  
15,856
2,731,672
Tenable Holdings, Inc. (a)
  
27,946
1,156,685
Upland Software, Inc. (a)(b)
  
36,104
170,411
Yext, Inc. (a)
  
128,893
854,561
Zuora, Inc. (a)
  
132,437
1,207,825
 
  
  
34,028,097
Technology Hardware, Storage & Peripherals - 1.1%
  
  
  
IonQ, Inc. (a)
  
21,399
261,710
Super Micro Computer, Inc. (a)
  
17,139
4,686,998
 
  
  
4,948,708
TOTAL INFORMATION TECHNOLOGY
  
  
66,304,688
MATERIALS - 5.2%
 
  
  
Chemicals - 1.8%
  
  
  
AdvanSix, Inc.
 
4,671
122,053
American Vanguard Corp.
 
65,797
617,176
Balchem Corp.
 
2,014
251,186
Ecovyst, Inc. (a)
  
59,009
561,766
FutureFuel Corp.
 
26,646
158,277
H.B. Fuller Co.
 
18,589
1,406,816
Hawkins, Inc.
 
6,058
372,204
Innospec, Inc.
 
17,003
1,786,505
Minerals Technologies, Inc.
 
35,762
2,240,132
Rayonier Advanced Materials, Inc. (a)
  
35,794
118,120
Sensient Technologies Corp.
 
10,679
618,741
 
  
  
8,252,976
Containers & Packaging - 0.5%
  
  
  
Greif, Inc. Class A
 
4,526
316,367
Myers Industries, Inc.
 
106,540
1,877,235
O-I Glass, Inc. (a)
  
9,005
132,914
 
  
  
2,326,516
Metals & Mining - 2.7%
  
  
  
Arch Resources, Inc.
 
2,633
436,973
ATI, Inc. (a)
  
42,614
1,872,885
Carpenter Technology Corp.
 
42,716
3,024,720
Commercial Metals Co.
 
8,316
376,964
Constellium NV (a)
  
70,220
1,221,828
Materion Corp.
 
11,245
1,271,922
Olympic Steel, Inc.
 
2,939
166,142
Ryerson Holding Corp.
 
1,951
60,422
SunCoke Energy, Inc.
 
180,309
1,678,677
Worthington Enterprises, Inc.
 
28,505
2,043,809
 
  
  
12,154,342
Paper & Forest Products - 0.2%
  
  
  
Clearwater Paper Corp. (a)
  
16,419
575,814
TOTAL MATERIALS
  
  
23,309,648
REAL ESTATE - 4.7%
 
  
  
Equity Real Estate Investment Trusts (REITs) - 4.6%
  
  
  
Alexanders, Inc.
 
1,622
298,383
American Assets Trust, Inc.
 
83,164
1,674,923
Ashford Hospitality Trust, Inc. (a)
  
79,177
173,398
Community Healthcare Trust, Inc.
 
6,184
167,586
EastGroup Properties, Inc.
 
12,913
2,243,634
Empire State Realty Trust, Inc.
 
157,894
1,414,730
Four Corners Property Trust, Inc.
 
84,699
1,947,230
Global Medical REIT, Inc.
 
91,250
915,238
Global Net Lease, Inc.
 
81,606
716,501
LXP Industrial Trust (REIT)
 
98,203
862,222
National Storage Affiliates Trust
 
9,699
321,910
NexPoint Residential Trust, Inc.
 
5,356
163,090
Phillips Edison & Co., Inc.
 
56,257
1,982,497
Physicians Realty Trust
 
11,509
134,425
Retail Opportunity Investments Corp.
 
40,438
520,437
RLJ Lodging Trust
 
28,412
303,724
Ryman Hospitality Properties, Inc.
 
22,597
2,267,609
SITE Centers Corp.
 
43,535
574,227
Tanger Factory Outlet Centers, Inc.
 
18,725
467,376
Terreno Realty Corp.
 
52,339
2,989,080
Universal Health Realty Income Trust (SBI)
 
13,226
527,321
Urban Edge Properties
 
22,915
383,826
 
  
  
21,049,367
Real Estate Management & Development - 0.1%
  
  
  
Cushman & Wakefield PLC (a)
  
18,738
153,839
Opendoor Technologies, Inc. (a)
  
60,006
180,618
 
  
  
334,457
TOTAL REAL ESTATE
  
  
21,383,824
UTILITIES - 1.6%
 
  
  
Electric Utilities - 0.5%
  
  
  
Allete, Inc.
 
30,487
1,691,419
MGE Energy, Inc.
 
6,879
507,326
PNM Resources, Inc.
 
4,438
184,488
Portland General Electric Co.
 
2,635
108,193
 
  
  
2,491,426
Gas Utilities - 0.3%
  
  
  
New Jersey Resources Corp.
 
32,126
1,355,717
Independent Power and Renewable Electricity Producers - 0.4%
  
  
  
Altus Power, Inc. Class A (a)(b)
  
84,699
423,495
Clearway Energy, Inc.:
  
  
  
 Class A
 
24,820
587,489
 Class C
 
23,426
584,947
 
  
  
1,595,931
Water Utilities - 0.4%
  
  
  
American States Water Co.
 
16,694
1,333,851
Consolidated Water Co., Inc.
 
6,829
246,459
SJW Group
 
6,034
396,072
 
  
  
1,976,382
TOTAL UTILITIES
  
  
7,419,456
 
TOTAL COMMON STOCKS
 (Cost $409,656,002)
  
  
  
439,399,240
 
  
  
  
Money Market Funds - 2.8%
 
  
Shares
Value ($)
 
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e)
 
 (Cost $12,385,227)
 
  
12,383,989
12,385,228
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.8%
 (Cost $422,041,229)
 
  
 
451,784,468
NET OTHER ASSETS (LIABILITIES) - 0.2%  
1,109,181
NET ASSETS - 100.0%
452,893,649
 
  
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
  
  
  
  
  
 
  
  
  
  
  
Equity Index Contracts
  
  
  
  
  
CME E-mini Russell 2000 Index Contracts (United States)
136
Dec 2023
12,322,960
42,788
42,788
 
  
  
  
  
  
The notional amount of futures purchased as a percentage of Net Assets is 2.7%
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Level 3 security
 
(d)
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.
 
(e)
Investment made with cash collateral received from securities on loan.
 
 
 
 
 
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 5.40%
-
65,357,814
65,357,814
9,658
-
-
-
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
-
14,231,502
1,846,275
526
-
1
12,385,228
0.0%
Total
-
79,589,316
67,204,089
10,184
-
1
12,385,228
  
 
  
  
  
  
  
  
  
  
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.
 
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.
 
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.
 
 
 
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.
 
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