UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-07319
Fidelity Covington Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Nicole Macarchuk, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | June 30 |
|
|
Date of reporting period: | June 30, 2025 |
Item 1.
Reports to Stockholders
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NASDAQ/NMS Global Market
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Metaverse ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Metaverse ETF - NAV
|
||
Fidelity Metaverse Index℠
|
||
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Communication Services
|
||
Real Estate
|
||
Industrials
|
||
Consumer Discretionary
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.7
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.3
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 74.8
|
|
Korea (South) - 12.0
|
|
China - 5.7
|
|
France - 2.6
|
|
Japan - 1.5
|
|
Sweden - 1.4
|
|
Taiwan - 0.7
|
|
Germany - 0.5
|
|
United Kingdom - 0.5
|
|
United Arab Emirates - 0.3
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Advanced Micro Devices Inc
|
||
NVIDIA Corp
|
||
Microsoft Corp
|
||
Meta Platforms Inc Class A
|
||
QUALCOMM Inc
|
||
Samsung Electronics Co Ltd
|
||
Alphabet Inc Class A
|
||
Apple Inc
|
||
Adobe Inc
|
||
Autodesk Inc
|
||
43.5
|
The fund changed its classification from non-diversified to diversified and modified its principal investment strategies and risks to reflect the change during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913377.101 6566-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : Cboe BZX Exchange, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Electric Vehicles and Future Transportation ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Electric Vehicles and Future Transportation ETF - NAV
|
-
|
|
Fidelity Electric Vehicles and Future Transportation Index℠
|
-
|
|
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Consumer Discretionary
|
||
Information Technology
|
||
Industrials
|
||
Materials
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.8
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 38.2
|
|
China - 26.7
|
|
Japan - 9.9
|
|
Netherlands - 4.5
|
|
Germany - 4.4
|
|
Korea (South) - 4.0
|
|
Sweden - 3.2
|
|
France - 2.6
|
|
Belgium - 1.7
|
|
Others - 4.8
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Uber Technologies Inc
|
||
NXP Semiconductors NV
|
||
Infineon Technologies AG
|
||
Contemporary Amperex Technology Co Ltd H Shares
|
||
Renesas Electronics Corp
|
||
Tesla Inc
|
||
Li Auto Inc A Shares
|
||
BYD Co Ltd H Shares
|
||
XPeng Inc A Shares
|
||
Rivian Automotive Inc Class A
|
||
41.2
|
The fund changed its classification from non-diversified to diversified and modified its principal investment strategies and risks to reflect the change during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913375.101 6445-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : Cboe BZX Exchange, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Digital Health ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Digital Health ETF - NAV
|
-
|
|
Fidelity Digital Health Index℠
|
-
|
|
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Health Care
|
||
Consumer Staples
|
||
Information Technology
|
||
Industrials
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 100.0
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.0
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 62.2
|
|
Australia - 7.5
|
|
China - 6.6
|
|
Netherlands - 5.4
|
|
Switzerland - 4.1
|
|
Germany - 3.7
|
|
Sweden - 3.5
|
|
Japan - 2.6
|
|
Denmark - 2.1
|
|
Others - 2.3
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
ResMed Inc
|
||
Dexcom Inc
|
||
Veeva Systems Inc Class A
|
||
Intuitive Surgical Inc
|
||
Insulet Corp
|
||
Koninklijke Philips NV
|
||
Siemens Healthineers AG
|
||
Cochlear Ltd
|
||
Sonova Holding AG
|
||
Pro Medicus Ltd
|
||
39.1
|
The fund changed its classification from non-diversified to diversified and modified its principal investment strategies and risks to reflect the change during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913374.101 6444-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NASDAQ/NMS Global Market
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Crypto Industry and Digital Payments ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Crypto Industry and Digital Payments ETF - NAV
|
||
Fidelity Crypto Industry and Digital Payments Index℠
|
||
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Financials
|
||
Information Technology
|
||
Communication Services
|
||
Industrials
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.8
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 69.1
|
|
Canada - 6.5
|
|
Japan - 6.2
|
|
Australia - 5.8
|
|
Brazil - 3.0
|
|
Israel - 2.7
|
|
China - 1.8
|
|
Netherlands - 1.3
|
|
Italy - 1.2
|
|
Others - 2.4
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Coinbase Global Inc Class A
|
||
MARA Holdings Inc
|
||
Riot Platforms Inc
|
||
IREN Ltd
|
||
Cleanspark Inc
|
||
Core Scientific Inc
|
||
Applied Digital Corp
|
||
Block Inc Class A
|
||
Terawulf Inc
|
||
Etoro Group Ltd Class A
|
||
49.5
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913376.101 6565-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : Cboe BZX Exchange, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Cloud Computing ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Cloud Computing ETF - NAV
|
||
Fidelity Cloud Computing Index℠
|
||
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Real Estate
|
||
Consumer Discretionary
|
||
Industrials
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.7
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.3
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 93.7
|
|
China - 3.5
|
|
Israel - 1.8
|
|
Germany - 1.0
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Microsoft Corp
|
||
Salesforce Inc
|
||
Servicenow Inc
|
||
MicroStrategy Inc Class A
|
||
Snowflake Inc Class A
|
||
Equinix Inc
|
||
Digital Realty Trust Inc
|
||
Datadog Inc Class A
|
||
Workday Inc Class A
|
||
Seagate Technology Holdings PLC
|
||
39.0
|
The fund changed its classification from non-diversified to diversified and modified its principal investment strategies and risks to reflect the change during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913373.101 6443-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : Cboe BZX Exchange, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Clean Energy ETF
|
$
|
![]() |
1 Year
|
Life of Fund A
|
|
Fidelity® Clean Energy ETF - NAV
|
-
|
|
Fidelity Clean Energy Index℠
|
-
|
|
MSCI ACWI (All Country World Index) Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Utilities
|
||
Industrials
|
||
Information Technology
|
||
Materials
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.6
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.4
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 34.0
|
|
China - 11.1
|
|
Canada - 9.4
|
|
Spain - 7.2
|
|
Denmark - 6.7
|
|
Germany - 5.0
|
|
Korea (South) - 4.7
|
|
New Zealand - 3.9
|
|
Portugal - 3.7
|
|
Others - 14.3
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
GE Vernova Inc
|
||
First Solar Inc
|
||
EDP SA
|
||
Vestas Wind Systems A/S
|
||
Orsted AS
|
||
NEXTracker Inc Class A
|
||
Itron Inc
|
||
Bloom Energy Corp Class A
|
||
Verbund AG Class A
|
||
Ormat Technologies Inc
|
||
33.2
|
The fund changed its classification from non-diversified to diversified and modified its principal investment strategies and risks to reflect the change during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913372.101 6442-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Large Cap Value ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced Large Cap Value ETF - NAV A
|
|||
Russell 1000® Value Index
|
|||
Russell 1000® Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Financials
|
||
Industrials
|
||
Health Care
|
||
Information Technology
|
||
Consumer Discretionary
|
||
Communication Services
|
||
Consumer Staples
|
||
Energy
|
||
Materials
|
||
Real Estate
|
||
Utilities
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.6
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.4
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 99.5
|
|
Ireland - 0.2
|
|
United Kingdom - 0.2
|
|
Brazil - 0.1
|
|
Puerto Rico - 0.0
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Berkshire Hathaway Inc Class B
|
||
JPMorgan Chase & Co
|
||
Exxon Mobil Corp
|
||
Bank of America Corp
|
||
Philip Morris International Inc
|
||
Amazon.com Inc
|
||
Walmart Inc
|
||
Walt Disney Co/The
|
||
Alphabet Inc Class A
|
||
Johnson & Johnson
|
||
18.2
|
The fund added a contractual proxy and shareholder meeting expense cap during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913704.101 7542-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced International ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced International ETF - NAV A
|
|||
MSCI EAFE Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Financials
|
||
Industrials
|
||
Health Care
|
||
Information Technology
|
||
Consumer Discretionary
|
||
Materials
|
||
Consumer Staples
|
||
Communication Services
|
||
Utilities
|
||
Energy
|
||
Real Estate
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 97.6
|
|
Preferred Stocks - 0.6
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 1.8
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
Japan - 21.8
|
|
United States - 11.1
|
|
United Kingdom - 10.7
|
|
Germany - 10.5
|
|
France - 8.5
|
|
Australia - 6.6
|
|
Switzerland - 4.6
|
|
Netherlands - 4.2
|
|
Spain - 3.6
|
|
Others - 18.4
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
ASML Holding NV
|
||
Novartis AG
|
||
Siemens AG
|
||
Roche Holding AG
|
||
Allianz SE
|
||
SAP SE
|
||
TotalEnergies SE
|
||
Banco Santander SA
|
||
Rolls-Royce Holdings PLC
|
||
HSBC Holdings PLC
|
||
14.1
|
The fund added a contractual proxy and shareholder meeting expense cap during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913706.101 7544-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Large Cap Core ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced Large Cap Core ETF - NAV A
|
|||
S&P 500® Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Financials
|
||
Communication Services
|
||
Consumer Discretionary
|
||
Health Care
|
||
Industrials
|
||
Consumer Staples
|
||
Energy
|
||
Materials
|
||
Real Estate
|
||
Utilities
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.0
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 1.0
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 100.0
|
|
United Kingdom - 0.0
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
NVIDIA Corp
|
||
Microsoft Corp
|
||
Apple Inc
|
||
Amazon.com Inc
|
||
Meta Platforms Inc Class A
|
||
Broadcom Inc
|
||
Berkshire Hathaway Inc Class B
|
||
Alphabet Inc Class C
|
||
Alphabet Inc Class A
|
||
JPMorgan Chase & Co
|
||
39.1
|
The fund added a contractual proxy and shareholder meeting expense cap during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913703.101 7541-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Large Cap Growth ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced Large Cap Growth ETF - NAV A
|
|||
Russell 1000® Growth Index
|
|||
Russell 1000® Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Consumer Discretionary
|
||
Communication Services
|
||
Health Care
|
||
Industrials
|
||
Financials
|
||
Consumer Staples
|
||
Materials
|
||
Energy
|
||
Real Estate
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 98.1
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 1.9
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 99.8
|
|
Finland - 0.1
|
|
United Kingdom - 0.1
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
NVIDIA Corp
|
||
Microsoft Corp
|
||
Apple Inc
|
||
Amazon.com Inc
|
||
Meta Platforms Inc Class A
|
||
Broadcom Inc
|
||
Tesla Inc
|
||
Netflix Inc
|
||
Alphabet Inc Class C
|
||
Alphabet Inc Class A
|
||
59.9
|
The fund added a contractual proxy and shareholder meeting expense cap during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913705.101 7543-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Small Cap ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced Small Cap ETF - NAV A
|
|||
Russell 2000® Index
|
|||
Russell 3000® Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Financials
|
||
Industrials
|
||
Information Technology
|
||
Health Care
|
||
Consumer Discretionary
|
||
Materials
|
||
Real Estate
|
||
Energy
|
||
Communication Services
|
||
Consumer Staples
|
||
Utilities
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 98.3
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 1.7
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 98.6
|
|
Thailand - 0.4
|
|
Ireland - 0.2
|
|
Canada - 0.2
|
|
Puerto Rico - 0.1
|
|
Switzerland - 0.1
|
|
Monaco - 0.1
|
|
Norway - 0.1
|
|
Panama - 0.1
|
|
Others - 0.1
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Guardant Health Inc
|
||
Q2 Holdings Inc
|
||
Coeur Mining Inc
|
||
Dave Inc Class A
|
||
Option Care Health Inc
|
||
Credo Technology Group Holding Ltd
|
||
CareTrust REIT Inc
|
||
SkyWest Inc
|
||
HealthEquity Inc
|
||
Southwest Gas Holdings Inc
|
||
7.7
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9912775.101 7545-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Mid Cap ETF
|
$
|
![]() |
1 Year
|
5 Year
|
10 Year
|
|
Fidelity® Enhanced Mid Cap ETF - NAV A
|
|||
Russell Midcap® Index
|
|||
Russell 3000® Index
|
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Industrials
|
||
Financials
|
||
Information Technology
|
||
Consumer Discretionary
|
||
Health Care
|
||
Real Estate
|
||
Materials
|
||
Energy
|
||
Communication Services
|
||
Utilities
|
||
Consumer Staples
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.1
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.9
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 98.8
|
|
Korea (South) - 0.7
|
|
United Kingdom - 0.3
|
|
Brazil - 0.1
|
|
Canada - 0.1
|
|
Puerto Rico - 0.0
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Howmet Aerospace Inc
|
||
Bank of New York Mellon Corp/The
|
||
ROBLOX Corp Class A
|
||
Axon Enterprise Inc
|
||
Cheniere Energy Inc
|
||
Digital Realty Trust Inc
|
||
Carvana Co Class A
|
||
MSCI Inc
|
||
Allstate Corp/The
|
||
Veeva Systems Inc Class A
|
||
10.3
|
The fund added a contractual proxy and shareholder meeting expense cap during the reporting period.
|
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9913707.101 7546-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced U.S. All-Cap Equity ETF A
|
$
|
![]() |
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Financials
|
||
Consumer Discretionary
|
||
Health Care
|
||
Communication Services
|
||
Industrials
|
||
Consumer Staples
|
||
Energy
|
||
Materials
|
||
Real Estate
|
||
Utilities
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 99.9
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 0.1
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
United States - 99.2
|
|
Korea (South) - 0.3
|
|
United Kingdom - 0.1
|
|
Canada - 0.1
|
|
Monaco - 0.1
|
|
Brazil - 0.1
|
|
Bailiwick Of Guernsey - 0.1
|
|
Ireland - 0.0
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
NVIDIA Corp
|
||
Microsoft Corp
|
||
Apple Inc
|
||
Broadcom Inc
|
||
Amazon.com Inc
|
||
Meta Platforms Inc Class A
|
||
Alphabet Inc Class A
|
||
Netflix Inc
|
||
Walmart Inc
|
||
Home Depot Inc/The
|
||
30.7
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9918719.100 7725-TSRA-0825
|
ANNUAL SHAREHOLDER REPORT | AS OF
|
||
|
Principal U.S. Listing Exchange : NYSE Arca, Inc.
|
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
||
Fidelity® Enhanced Emerging Markets ETF A
|
$
|
![]() |
KEY FACTS
|
||
Fund Size
|
$
|
|
Number of Holdings
|
||
Total Advisory Fee
|
$
|
|
Portfolio Turnover
|
MARKET SECTORS
(% of Fund's net assets)
|
||
Information Technology
|
||
Financials
|
||
Consumer Discretionary
|
||
Industrials
|
||
Communication Services
|
||
Consumer Staples
|
||
Health Care
|
||
Energy
|
||
Materials
|
||
Utilities
|
||
Real Estate
|
||
ASSET ALLOCATION (% of Fund's net assets)
|
![]() |
Common Stocks - 98.8
|
|
Short-Term Investments and Net Other Assets (Liabilities) - 1.2
|
|
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
|
![]() |
China - 31.1
|
|
Taiwan - 19.0
|
|
India - 15.0
|
|
Korea (South) - 12.1
|
|
Brazil - 5.4
|
|
South Africa - 2.1
|
|
United States - 1.9
|
|
Saudi Arabia - 1.7
|
|
United Arab Emirates - 1.6
|
|
Others - 10.1
|
|
TOP HOLDINGS (% of Fund's net assets) |
||
Taiwan Semiconductor Manufacturing Co Ltd
|
||
Tencent Holdings Ltd
|
||
Alibaba Group Holding Ltd
|
||
HDFC Bank Ltd ADR
|
||
ICICI Bank Ltd ADR
|
||
SK Hynix Inc
|
||
Samsung Electronics Co Ltd
|
||
Xiaomi Corp B Shares
|
||
Infosys Ltd ADR
|
||
Mahindra & Mahindra Ltd GDR
|
||
33.7
|
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2025 FMR LLC. All rights reserved.
|
||
![]() |
![]() |
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9918717.100 7726-TSRA-0825
|
Item 2.
Code of Ethics
As of the end of the period, June 30, 2025, Fidelity Covington Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, Deloitte Entities) in each of the last two fiscal years for services rendered to Fidelity Clean Energy ETF, Fidelity Cloud Computing ETF, Fidelity Crypto Industry and Digital Payments ETF, Fidelity Digital Health ETF, Fidelity Electric Vehicles and Future Transportation ETF, and Fidelity Metaverse ETF (the Funds):
Services Billed by Deloitte Entities
June 30, 2025 FeesA
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Clean Energy ETF | $14,000 | $- | $4,100 | $300 |
Fidelity Cloud Computing ETF | $14,000 | $- | $4,400 | $300 |
Fidelity Crypto Industry and Digital Payments ETF | $14,200 | $- | $4,400 | $300 |
Fidelity Digital Health ETF | $14,000 | $- | $4,100 | $300 |
Fidelity Electric Vehicles and Future Transportation ETF | $14,000 | $- | $4,100 | $300 |
Fidelity Metaverse ETF | $14,200 | $- | $4,700 | $300 |
June 30, 2024 FeesA
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Clean Energy ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Cloud Computing ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Crypto Industry and Digital Payments ETF | $15,700 | $- | $4,300 | $400 |
Fidelity Digital Health ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Electric Vehicles and Future Transportation ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Metaverse ETF | $15,800 | $- | $4,300 | $400 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (PwC) in each of the last two fiscal years for services rendered to Fidelity Enhanced Emerging Markets ETF, Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, Fidelity Enhanced Small Cap ETF, and Fidelity Enhanced U.S. All-Cap Equity ETF (the Funds):
Services Billed by PwC
June 30, 2025 FeesA,C
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Enhanced Emerging Markets ETF | $19,200 | $800 | $4,900 | $400 |
Fidelity Enhanced International ETF | $43,700 | $- | $10,100 | $1,300 |
Fidelity Enhanced Large Cap Core ETF | $43,200 | $- | $10,100 | $1,300 |
Fidelity Enhanced Large Cap Growth ETF | $45,800 | $- | $10,900 | $1,300 |
Fidelity Enhanced Large Cap Value ETF | $48,300 | $- | $13,300 | $1,300 |
Fidelity Enhanced Mid Cap ETF | $45,700 | $- | $10,100 | $1,300 |
Fidelity Enhanced Small Cap ETF | $43,100 | $- | $10,100 | $1,800 |
Fidelity Enhanced U.S. All-Cap Equity ETF | $19,200 | $800 | $4,900 | $400 |
June 30, 2024 FeesA,B,C
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Enhanced Emerging Markets ETF | $- | $- | $- | $- |
Fidelity Enhanced International ETF | $39,700 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Core ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Growth ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Value ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Mid Cap ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Small Cap ETF | $66,100 | $- | $13,500 | $1,000 |
Fidelity Enhanced U.S. All-Cap Equity ETF | $- | $- | $- | $- |
A Amounts may reflect rounding.
B Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETF commenced operations on November 17, 2023.
C Fidelity Enhanced Emerging Markets ETF and Fidelity Enhanced U.S. All-Cap Equity ETF commenced operations on November 19, 2024.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (Fund Service Providers):
Services Billed by Deloitte Entities
| June 30, 2025A | June 30, 2024A |
Audit-Related Fees | $125,000 | $200,000 |
Tax Fees | $- | $- |
All Other Fees | $2,970,400 | $1,929,500 |
A Amounts may reflect rounding.
Services Billed by PwC
| June 30, 2025A,C | June 30, 2024A,B,C |
Audit-Related Fees | $9,680,100 | $9,437,800 |
Tax Fees | $1,000 | $61,000 |
All Other Fees | $- | $35,000 |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETFs commencement of operations.
C May include amounts billed prior to the Fidelity Enhanced Emerging Markets ETF and Fidelity Enhanced U.S. All-Cap Equity ETFs commencement of operations.
Audit-Related Fees represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
Tax Fees represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
All Other Fees represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | June 30, 2025A,C | June 30, 2024A,B,C |
Deloitte Entities | $3,459,800 | $6,225,500 |
PwC | $14,722,700 | $15,075,400 |
|
|
|
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETFs commencement of operations.
C May include amounts billed prior to the Fidelity Enhanced Emerging Markets ETF and Fidelity Enhanced U.S. All-Cap Equity ETFs commencement of operations.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMRs review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trusts Audit Committee must pre-approve all audit and non-audit services provided by a funds independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committees consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (Covered Service) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chairs absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (De Minimis Exception)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Funds(s) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the PCAOB) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.
The Registrant is not a foreign issuer, as defined in 17 CFR 240.3b-4.
Item 5.
Audit Committee of Listed Registrants
The Audit Committee is a separately-designated standing audit committee in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. As of June 30, 2025, the members of the Audit Committee were Donald F. Donahue, Vijay C. Advani, Thomas Kennedy, Karen B. Peetz and Susan Tomasky.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Financial Statements and Financial Highlights for Open-End Management Investment Companies
Contents
Common Stocks - 99.6%
|
|||
Shares
|
Value ($)
|
||
AUSTRIA - 2.7%
|
|||
Utilities - 2.7%
|
|||
Electric Utilities - 2.7%
|
|||
Verbund AG Class A
|
9,144
|
699,300
|
|
CANADA - 9.4%
|
|||
Information Technology - 1.1%
|
|||
Semiconductors & Semiconductor Equipment - 1.1%
|
|||
Canadian Solar Inc (a)(b)
|
25,688
|
283,595
|
|
Utilities - 8.3%
|
|||
Independent Power and Renewable Electricity Producers - 8.3%
|
|||
Boralex Inc Class A
|
19,697
|
456,734
|
|
Brookfield Renewable Corp Class A
|
20,086
|
656,972
|
|
Innergex Renewable Energy Inc
|
41,605
|
418,337
|
|
Northland Power Inc
|
38,908
|
609,354
|
|
2,141,397
|
|||
TOTAL CANADA
|
2,424,992
|
||
CHINA - 11.1%
|
|||
Industrials - 1.5%
|
|||
Electrical Equipment - 1.5%
|
|||
Goldwind Science & Technology Co Ltd H Shares
|
431,200
|
410,327
|
|
Information Technology - 4.5%
|
|||
Semiconductors & Semiconductor Equipment - 4.5%
|
|||
Flat Glass Group Co Ltd H Shares (b)
|
308,000
|
345,666
|
|
JinkoSolar Holding Co Ltd ADR
|
17,477
|
370,862
|
|
Xinyi Solar Holdings Ltd
|
1,348,000
|
427,582
|
|
1,144,110
|
|||
Utilities - 5.1%
|
|||
Independent Power and Renewable Electricity Producers - 5.1%
|
|||
China Datang Corp Renewable Power Co Ltd H Shares (b)
|
1,060,000
|
329,478
|
|
China Longyuan Power Group Corp Ltd H Shares
|
617,000
|
555,693
|
|
China Power International Development Ltd
|
1,088,000
|
414,410
|
|
1,299,581
|
|||
TOTAL CHINA
|
2,854,018
|
||
DENMARK - 6.7%
|
|||
Industrials - 3.6%
|
|||
Electrical Equipment - 3.6%
|
|||
Vestas Wind Systems A/S
|
62,060
|
927,805
|
|
Utilities - 3.1%
|
|||
Independent Power and Renewable Electricity Producers - 3.1%
|
|||
Orsted AS (a)(c)(d)
|
18,521
|
792,616
|
|
TOTAL DENMARK
|
1,720,421
|
||
FRANCE - 1.9%
|
|||
Industrials - 1.9%
|
|||
Construction & Engineering - 1.9%
|
|||
Vinci SA
|
3,377
|
495,908
|
|
GERMANY - 5.0%
|
|||
Industrials - 1.9%
|
|||
Electrical Equipment - 1.9%
|
|||
Nordex SE (a)
|
24,330
|
480,375
|
|
Information Technology - 1.1%
|
|||
Semiconductors & Semiconductor Equipment - 1.1%
|
|||
SMA Solar Technology AG (a)(b)
|
12,177
|
303,604
|
|
Utilities - 2.0%
|
|||
Multi-Utilities - 2.0%
|
|||
E.ON SE
|
27,672
|
507,544
|
|
TOTAL GERMANY
|
1,291,523
|
||
HONG KONG - 1.4%
|
|||
Industrials - 1.4%
|
|||
Construction & Engineering - 1.4%
|
|||
Central New Energy Holding Group Ltd (a)(b)
|
364,000
|
370,955
|
|
INDIA - 1.1%
|
|||
Utilities - 1.1%
|
|||
Independent Power and Renewable Electricity Producers - 1.1%
|
|||
ReNew Energy Global PLC Class A (a)(b)
|
40,246
|
278,099
|
|
ISRAEL - 2.2%
|
|||
Utilities - 2.2%
|
|||
Independent Power and Renewable Electricity Producers - 2.2%
|
|||
Enlight Renewable Energy Ltd (a)
|
24,656
|
559,382
|
|
ITALY - 1.5%
|
|||
Utilities - 1.5%
|
|||
Independent Power and Renewable Electricity Producers - 1.5%
|
|||
ERG SpA
|
17,414
|
379,393
|
|
JAPAN - 1.7%
|
|||
Industrials - 0.9%
|
|||
Construction & Engineering - 0.9%
|
|||
West Holdings Corp
|
20,500
|
236,159
|
|
Utilities - 0.8%
|
|||
Independent Power and Renewable Electricity Producers - 0.8%
|
|||
RENOVA Inc (a)
|
44,300
|
199,349
|
|
TOTAL JAPAN
|
435,508
|
||
KOREA (SOUTH) - 4.7%
|
|||
Industrials - 2.8%
|
|||
Electrical Equipment - 2.8%
|
|||
CS Wind Corp
|
9,458
|
328,675
|
|
Doosan Fuel Cell Co Ltd (a)
|
22,134
|
368,190
|
|
696,865
|
|||
Materials - 1.9%
|
|||
Chemicals - 1.9%
|
|||
Hanwha Solutions Corp
|
21,302
|
498,772
|
|
TOTAL KOREA (SOUTH)
|
1,195,637
|
||
NEW ZEALAND - 3.9%
|
|||
Utilities - 3.9%
|
|||
Electric Utilities - 1.4%
|
|||
Mercury NZ Ltd
|
98,663
|
359,959
|
|
Independent Power and Renewable Electricity Producers - 2.5%
|
|||
Meridian Energy Ltd
|
177,253
|
634,849
|
|
TOTAL NEW ZEALAND
|
994,808
|
||
PORTUGAL - 3.7%
|
|||
Utilities - 3.7%
|
|||
Electric Utilities - 3.7%
|
|||
EDP SA
|
220,896
|
954,738
|
|
SPAIN - 7.2%
|
|||
Utilities - 7.2%
|
|||
Electric Utilities - 2.4%
|
|||
Acciona SA
|
3,515
|
630,465
|
|
Independent Power and Renewable Electricity Producers - 4.8%
|
|||
EDP Renovaveis SA
|
51,483
|
572,606
|
|
Grenergy Renovables SA (a)
|
3,932
|
283,858
|
|
Solaria Energia y Medio Ambiente SA (a)
|
31,577
|
364,588
|
|
1,221,052
|
|||
TOTAL SPAIN
|
1,851,517
|
||
SWITZERLAND - 1.8%
|
|||
Information Technology - 1.8%
|
|||
Electronic Equipment, Instruments & Components - 1.8%
|
|||
Landis+Gyr Group AG
|
6,484
|
452,903
|
|
UNITED STATES - 33.6%
|
|||
Industrials - 17.6%
|
|||
Construction & Engineering - 1.1%
|
|||
Ameresco Inc Class A (a)
|
18,609
|
282,671
|
|
Electrical Equipment - 16.5%
|
|||
Array Technologies Inc (a)
|
51,423
|
303,395
|
|
Bloom Energy Corp Class A (a)(b)
|
29,306
|
701,000
|
|
GE Vernova Inc
|
2,265
|
1,198,525
|
|
NEXTracker Inc Class A (a)
|
13,588
|
738,780
|
|
Plug Power Inc (a)(b)
|
356,929
|
531,824
|
|
Shoals Technologies Group Inc (a)
|
67,974
|
288,889
|
|
Sunrun Inc (a)
|
54,517
|
445,949
|
|
4,208,362
|
|||
TOTAL INDUSTRIALS
|
4,491,033
|
||
Information Technology - 11.0%
|
|||
Electronic Equipment, Instruments & Components - 2.8%
|
|||
Itron Inc (a)
|
5,531
|
728,046
|
|
Semiconductors & Semiconductor Equipment - 8.2%
|
|||
Enphase Energy Inc (a)
|
15,663
|
621,038
|
|
First Solar Inc (a)
|
6,420
|
1,062,767
|
|
SolarEdge Technologies Inc (a)(b)
|
20,581
|
419,852
|
|
2,103,657
|
|||
TOTAL INFORMATION TECHNOLOGY
|
2,831,703
|
||
Utilities - 5.0%
|
|||
Independent Power and Renewable Electricity Producers - 5.0%
|
|||
Clearway Energy Inc Class C
|
18,744
|
599,808
|
|
Ormat Technologies Inc
|
8,169
|
684,235
|
|
1,284,043
|
|||
TOTAL UNITED STATES
|
8,606,779
|
||
TOTAL COMMON STOCKS
(Cost $30,654,587)
|
25,565,881
|
||
Money Market Funds - 8.0%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (e)
|
4.32
|
26,252
|
26,258
|
|
Fidelity Securities Lending Cash Central Fund (e)(f)
|
4.32
|
2,039,356
|
2,039,559
|
|
TOTAL MONEY MARKET FUNDS
(Cost $2,065,817)
|
2,065,817
|
|||
TOTAL INVESTMENT IN SECURITIES - 107.6%
(Cost $32,720,404)
|
27,631,698
|
NET OTHER ASSETS (LIABILITIES) - (7.6)%
|
(1,945,619)
|
NET ASSETS - 100.0%
|
25,686,079
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME S&P 500 Index Contracts (United States)
|
3
|
Sep 2025
|
93,806
|
3,223
|
3,223
|
The notional amount of futures purchased as a percentage of Net Assets is 0.4%
|
(a)
|
Non-income producing
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(c)
|
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 $792,616 or 3.1% of net assets.
|
(d)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $792,616 or 3.1% of net assets.
|
(e)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(f)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
32,219
|
3,927,877
|
3,933,838
|
925
|
-
|
-
|
26,258
|
26,252
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
-
|
15,492,033
|
13,452,474
|
34,008
|
-
|
-
|
2,039,559
|
2,039,356
|
0.0%
|
Total
|
32,219
|
19,419,910
|
17,386,312
|
34,933
|
-
|
-
|
2,065,817
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Industrials
|
8,109,427
|
8,109,427
|
-
|
-
|
Information Technology
|
5,015,915
|
5,015,915
|
-
|
-
|
Materials
|
498,772
|
498,772
|
-
|
-
|
Utilities
|
11,941,767
|
11,941,767
|
-
|
-
|
Money Market Funds
|
2,065,817
|
2,065,817
|
-
|
-
|
Total Investments in Securities:
|
27,631,698
|
27,631,698
|
-
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
3,223
|
3,223
|
-
|
-
|
Total Assets
|
3,223
|
3,223
|
-
|
-
|
Total Derivative Instruments:
|
3,223
|
3,223
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
3,223
|
0
|
Total Equity Risk
|
3,223
|
0
|
Total Value of Derivatives
|
3,223
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $2,047,455) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $30,654,587)
|
$
|
25,565,881
|
||
Fidelity Central Funds (cost $2,065,817)
|
2,065,817
|
|||
Total Investment in Securities (cost $32,720,404)
|
$
|
27,631,698
|
||
Segregated cash with brokers for derivative instruments
|
10,783
|
|||
Foreign currency held at value (cost $14,183)
|
14,224
|
|||
Receivable for investments sold
|
24
|
|||
Dividends receivable
|
39,337
|
|||
Reclaims receivable
|
29,193
|
|||
Distributions receivable from Fidelity Central Funds
|
8,102
|
|||
Receivable for daily variation margin on futures contracts
|
450
|
|||
Total assets
|
27,733,811
|
|||
Liabilities
|
||||
Accrued management fee
|
$
|
8,173
|
||
Collateral on securities loaned
|
2,039,559
|
|||
Total liabilities
|
2,047,732
|
|||
Net Assets
|
$
|
25,686,079
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
43,561,073
|
||
Total accumulated earnings (loss)
|
(17,874,994)
|
|||
Net Assets
|
$
|
25,686,079
|
||
Net Asset Value, offering price and redemption price per share ($25,686,079 ÷ 1,650,000 shares)
|
$
|
15.57
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
423,008
|
||
Interest
|
155
|
|||
Income from Fidelity Central Funds (including $34,008 from security lending)
|
34,933
|
|||
Income before foreign taxes withheld
|
$
|
458,096
|
||
Less foreign taxes withheld
|
(52,703)
|
|||
Total income
|
405,393
|
|||
Expenses
|
||||
Management fee
|
$
|
98,256
|
||
Independent trustees' fees and expenses
|
104
|
|||
Miscellaneous
|
147
|
|||
Total expenses before reductions
|
98,507
|
|||
Expense reductions
|
(216)
|
|||
Total expenses after reductions
|
98,291
|
|||
Net Investment income (loss)
|
307,102
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(3,611,891)
|
|||
Redemptions in-kind
|
143,383
|
|||
Foreign currency transactions
|
(2,274)
|
|||
Futures contracts
|
4,889
|
|||
Total net realized gain (loss)
|
(3,465,893)
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
4,986,469
|
|||
Assets and liabilities in foreign currencies
|
2,373
|
|||
Futures contracts
|
2,955
|
|||
Total change in net unrealized appreciation (depreciation)
|
4,991,797
|
|||
Net gain (loss)
|
1,525,904
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
1,833,006
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
307,102
|
$
|
325,489
|
Net realized gain (loss)
|
(3,465,893)
|
(5,958,967)
|
||
Change in net unrealized appreciation (depreciation)
|
4,991,797
|
(5,410,016)
|
||
Net increase (decrease) in net assets resulting from operations
|
1,833,006
|
(11,043,494)
|
||
Distributions to shareholders
|
(363,900)
|
(378,500)
|
||
Share transactions
|
||||
Proceeds from sales of shares
|
748,678
|
-
|
||
Cost of shares redeemed
|
(1,918,527)
|
(1,695,052)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
(1,169,849)
|
(1,695,052)
|
||
Total increase (decrease) in net assets
|
299,257
|
(13,117,046)
|
||
Net Assets
|
||||
Beginning of period
|
25,386,822
|
38,503,868
|
||
End of period
|
$
|
25,686,079
|
$
|
25,386,822
|
Other Information
|
||||
Shares
|
||||
Sold
|
50,000
|
-
|
||
Redeemed
|
(150,000)
|
(100,000)
|
||
Net increase (decrease)
|
(100,000)
|
(100,000)
|
||
Fidelity® Clean Energy ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
14.51
|
$
|
20.81
|
$
|
20.95
|
$
|
25.12
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.17
|
.18
|
.15
|
.15
|
||||
Net realized and unrealized gain (loss)
|
1.10
|
(6.27)
|
(.12)
|
(4.20)
|
||||
Total from investment operations
|
1.27
|
(6.09)
|
.03
|
(4.05)
|
||||
Distributions from net investment income
|
(.21)
|
(.21)
|
(.17)
|
(.12)
|
||||
Total distributions
|
(.21)
|
(.21)
|
(.17)
|
(.12)
|
||||
Net asset value, end of period
|
$
|
15.57
|
$
|
14.51
|
$
|
20.81
|
$
|
20.95
|
Total Return D,E,F
|
8.84 % |
(29.37)%
|
.10%
|
(16.12)%
|
||||
Ratios to Average Net Assets C,G,H
|
||||||||
Expenses before reductions
|
.39%
|
.42%
|
.39%
|
.39% I
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% I
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% I
|
||||
Net investment income (loss)
|
1.22%
|
1.13%
|
.69%
|
.90% I
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
25,686
|
$
|
25,387
|
$
|
38,504
|
$
|
28,288
|
Portfolio turnover rate J,K
|
46 % |
45%
|
37%
|
30% L
|
Common Stocks - 99.7%
|
|||
Shares
|
Value ($)
|
||
CHINA - 3.5%
|
|||
Information Technology - 3.5%
|
|||
IT Services - 1.9%
|
|||
Kingsoft Cloud Holdings Ltd (a)
|
1,102,000
|
932,138
|
|
Vnet Group Inc Class A ADR (a)
|
116,503
|
803,871
|
|
1,736,009
|
|||
Software - 1.6%
|
|||
Kingdee International Software Group Co Ltd (a)
|
778,500
|
1,531,215
|
|
TOTAL CHINA
|
3,267,224
|
||
GERMANY - 1.0%
|
|||
Information Technology - 1.0%
|
|||
IT Services - 1.0%
|
|||
IONOS Group SE (a)
|
20,374
|
954,249
|
|
ISRAEL - 1.8%
|
|||
Information Technology - 1.8%
|
|||
Software - 1.8%
|
|||
Nice Ltd (a)
|
9,734
|
1,651,962
|
|
UNITED STATES - 93.4%
|
|||
Consumer Discretionary - 2.1%
|
|||
Broadline Retail - 2.1%
|
|||
Amazon.com Inc (a)
|
8,806
|
1,931,948
|
|
Industrials - 1.6%
|
|||
Professional Services - 1.6%
|
|||
Dayforce Inc (a)
|
26,800
|
1,484,452
|
|
Information Technology - 82.6%
|
|||
IT Services - 9.4%
|
|||
DigitalOcean Holdings Inc (a)
|
29,680
|
847,661
|
|
MongoDB Inc Class A (a)
|
9,523
|
1,999,735
|
|
Snowflake Inc Class A (a)
|
16,679
|
3,732,260
|
|
Twilio Inc Class A (a)
|
17,218
|
2,141,230
|
|
8,720,886
|
|||
Software - 62.9%
|
|||
Atlassian Corp Class A (a)
|
12,533
|
2,545,327
|
|
Box Inc Class A (a)
|
33,998
|
1,161,712
|
|
Braze Inc Class A (a)
|
26,707
|
750,467
|
|
C3.ai Inc Class A (a)(b)
|
39,834
|
978,721
|
|
Commvault Systems Inc (a)
|
8,259
|
1,439,791
|
|
Confluent Inc Class A (a)
|
57,315
|
1,428,863
|
|
Datadog Inc Class A (a)
|
22,804
|
3,063,261
|
|
Docusign Inc (a)
|
22,257
|
1,733,598
|
|
Dropbox Inc Class A (a)
|
47,138
|
1,348,147
|
|
Dynatrace Inc (a)
|
36,329
|
2,005,724
|
|
Elastic NV (a)
|
17,325
|
1,461,017
|
|
Five9 Inc (a)(b)
|
32,059
|
848,922
|
|
Gitlab Inc Class A (a)
|
28,171
|
1,270,794
|
|
HubSpot Inc (a)
|
4,237
|
2,358,441
|
|
Informatica Inc Class A (a)
|
37,437
|
911,591
|
|
Intapp Inc (a)
|
18,515
|
955,744
|
|
JFrog Ltd (a)
|
27,164
|
1,191,956
|
|
Klaviyo Inc Class A (a)
|
30,537
|
1,025,432
|
|
Microsoft Corp
|
8,851
|
4,402,577
|
|
MicroStrategy Inc Class A (a)
|
10,310
|
4,167,612
|
|
Nutanix Inc Class A (a)
|
27,221
|
2,080,773
|
|
Onestream Inc Class A (b)
|
27,911
|
789,881
|
|
Pegasystems Inc
|
23,976
|
1,297,821
|
|
RingCentral Inc Class A (a)
|
34,449
|
976,629
|
|
Rubrik Inc Class A (a)
|
15,664
|
1,403,338
|
|
Salesforce Inc
|
15,602
|
4,254,510
|
|
Servicenow Inc (a)
|
4,054
|
4,167,837
|
|
Teradata Corp (a)
|
41,381
|
923,210
|
|
UiPath Inc Class A (a)
|
100,488
|
1,286,246
|
|
Verint Systems Inc (a)(b)
|
40,241
|
791,540
|
|
Vertex Inc Class A (a)(b)
|
22,405
|
791,681
|
|
Workday Inc Class A (a)
|
12,609
|
3,026,160
|
|
Zeta Global Holdings Corp Class A (a)
|
77,324
|
1,197,749
|
|
58,037,072
|
|||
Technology Hardware, Storage & Peripherals - 10.3%
|
|||
NetApp Inc
|
20,980
|
2,235,419
|
|
Pure Storage Inc Class A (a)
|
36,559
|
2,105,067
|
|
Seagate Technology Holdings PLC
|
18,788
|
2,711,672
|
|
Western Digital Corp
|
38,350
|
2,454,017
|
|
9,506,175
|
|||
TOTAL INFORMATION TECHNOLOGY
|
76,264,133
|
||
Real Estate - 7.1%
|
|||
Specialized REITs - 7.1%
|
|||
Digital Realty Trust Inc
|
18,183
|
3,169,842
|
|
Equinix Inc
|
4,247
|
3,378,361
|
|
6,548,203
|
|||
TOTAL UNITED STATES
|
86,228,736
|
||
TOTAL COMMON STOCKS
(Cost $81,666,018)
|
92,102,171
|
||
Money Market Funds - 2.7%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (c)
|
4.32
|
185,554
|
185,591
|
|
Fidelity Securities Lending Cash Central Fund (c)(d)
|
4.32
|
2,271,230
|
2,271,457
|
|
TOTAL MONEY MARKET FUNDS
(Cost $2,457,048)
|
2,457,048
|
|||
TOTAL INVESTMENT IN SECURITIES - 102.4%
(Cost $84,123,066)
|
94,559,219
|
NET OTHER ASSETS (LIABILITIES) - (2.4)%
|
(2,219,116)
|
NET ASSETS - 100.0%
|
92,340,103
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME Nasdaq 100 Index Contracts (United States)
|
5
|
Sep 2025
|
228,933
|
8,233
|
8,233
|
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
|
(a)
|
Non-income producing
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(d)
|
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 ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
-
|
14,473,843
|
14,288,252
|
5,688
|
-
|
-
|
185,591
|
185,554
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
-
|
64,723,311
|
62,451,854
|
2,108
|
-
|
-
|
2,271,457
|
2,271,230
|
0.0%
|
Total
|
-
|
79,197,154
|
76,740,106
|
7,796
|
-
|
-
|
2,457,048
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Consumer Discretionary
|
1,931,948
|
1,931,948
|
-
|
-
|
Industrials
|
1,484,452
|
1,484,452
|
-
|
-
|
Information Technology
|
82,137,568
|
82,137,568
|
-
|
-
|
Real Estate
|
6,548,203
|
6,548,203
|
-
|
-
|
Money Market Funds
|
2,457,048
|
2,457,048
|
-
|
-
|
Total Investments in Securities:
|
94,559,219
|
94,559,219
|
-
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
8,233
|
8,233
|
-
|
-
|
Total Assets
|
8,233
|
8,233
|
-
|
-
|
Total Derivative Instruments:
|
8,233
|
8,233
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
8,233
|
0
|
Total Equity Risk
|
8,233
|
0
|
Total Value of Derivatives
|
8,233
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $2,240,133) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $81,666,018)
|
$
|
92,102,171
|
||
Fidelity Central Funds (cost $2,457,048)
|
2,457,048
|
|||
Total Investment in Securities (cost $84,123,066)
|
$
|
94,559,219
|
||
Segregated cash with brokers for derivative instruments
|
15,848
|
|||
Cash
|
25,271
|
|||
Foreign currency held at value (cost $14,904)
|
15,046
|
|||
Dividends receivable
|
24,902
|
|||
Distributions receivable from Fidelity Central Funds
|
821
|
|||
Receivable for daily variation margin on futures contracts
|
1,418
|
|||
Total assets
|
94,642,525
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
1,573
|
||
Accrued management fee
|
29,392
|
|||
Collateral on securities loaned
|
2,271,457
|
|||
Total liabilities
|
2,302,422
|
|||
Net Assets
|
$
|
92,340,103
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
90,216,536
|
||
Total accumulated earnings (loss)
|
2,123,567
|
|||
Net Assets
|
$
|
92,340,103
|
||
Net Asset Value, offering price and redemption price per share ($92,340,103 ÷ 3,250,000 shares)
|
$
|
28.41
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
359,526
|
||
Interest
|
244
|
|||
Income from Fidelity Central Funds (including $2,108 from security lending)
|
7,796
|
|||
Total income
|
367,566
|
|||
Expenses
|
||||
Management fee
|
$
|
320,134
|
||
Independent trustees' fees and expenses
|
329
|
|||
Miscellaneous
|
242
|
|||
Total expenses before reductions
|
320,705
|
|||
Expense reductions
|
(1,173)
|
|||
Total expenses after reductions
|
319,532
|
|||
Net Investment income (loss)
|
48,034
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(1,865,181)
|
|||
Redemptions in-kind
|
8,282,438
|
|||
Foreign currency transactions
|
(6,886)
|
|||
Futures contracts
|
3,119
|
|||
Total net realized gain (loss)
|
6,413,490
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
6,083,021
|
|||
Assets and liabilities in foreign currencies
|
665
|
|||
Futures contracts
|
8,263
|
|||
Total change in net unrealized appreciation (depreciation)
|
6,091,949
|
|||
Net gain (loss)
|
12,505,439
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
12,553,473
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
48,034
|
$
|
105,956
|
Net realized gain (loss)
|
6,413,490
|
5,343,110
|
||
Change in net unrealized appreciation (depreciation)
|
6,091,949
|
4,565,409
|
||
Net increase (decrease) in net assets resulting from operations
|
12,553,473
|
10,014,475
|
||
Distributions to shareholders
|
(45,600)
|
(106,250)
|
||
Share transactions
|
||||
Proceeds from sales of shares
|
26,788,469
|
44,981,125
|
||
Cost of shares redeemed
|
(24,077,800)
|
(14,705,337)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
2,710,669
|
30,275,788
|
||
Total increase (decrease) in net assets
|
15,218,542
|
40,184,013
|
||
Net Assets
|
||||
Beginning of period
|
77,121,561
|
36,937,548
|
||
End of period
|
$
|
92,340,103
|
$
|
77,121,561
|
Other Information
|
||||
Shares
|
||||
Sold
|
950,000
|
1,950,000
|
||
Redeemed
|
(900,000)
|
(650,000)
|
||
Net increase (decrease)
|
50,000
|
1,300,000
|
||
Fidelity® Cloud Computing ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
24.10
|
$
|
19.44
|
$
|
15.91
|
$
|
25.20
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.02
|
.04 D
|
.04
|
.06
|
||||
Net realized and unrealized gain (loss)
|
4.30
|
4.66
|
3.53
|
(9.29)
|
||||
Total from investment operations
|
4.32
|
4.70
|
3.57
|
(9.23)
|
||||
Distributions from net investment income
|
(.01)
|
(.04)
|
(.03)
|
(.06)
|
||||
Distributions from tax return of capital
|
-
|
-
|
(.01)
|
-
|
||||
Total distributions
|
(.01)
|
(.04)
|
(.04)
|
(.06)
|
||||
Net asset value, end of period
|
$
|
28.41
|
$
|
24.10
|
$
|
19.44
|
$
|
15.91
|
Total Return E,F,G
|
17.96 % |
24.16%
|
22.51%
|
(36.69)%
|
||||
Ratios to Average Net Assets C,H,I
|
||||||||
Expenses before reductions
|
.39%
|
.41%
|
.39%
|
.39% J
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% J
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% J
|
||||
Net investment income (loss)
|
.06%
|
.18% D
|
.23%
|
.41% J
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
92,340
|
$
|
77,122
|
$
|
36,938
|
$
|
18,293
|
Portfolio turnover rate K,L
|
32 % |
33%
|
38%
|
31% M
|
Common Stocks - 99.8%
|
|||
Shares
|
Value ($)
|
||
AUSTRALIA - 5.8%
|
|||
Financials - 1.5%
|
|||
Consumer Finance - 1.5%
|
|||
Zip Co Ltd (a)
|
1,523,865
|
3,065,901
|
|
Information Technology - 4.3%
|
|||
Software - 4.3%
|
|||
IREN Ltd (a)(b)
|
570,760
|
8,315,974
|
|
TOTAL AUSTRALIA
|
11,381,875
|
||
BRAZIL - 3.0%
|
|||
Financials - 3.0%
|
|||
Financial Services - 3.0%
|
|||
Pagseguro Digital Ltd Class A
|
289,700
|
2,792,708
|
|
StoneCo Ltd Class A (a)
|
191,548
|
3,072,430
|
|
TOTAL BRAZIL
|
5,865,138
|
||
CANADA - 6.5%
|
|||
Information Technology - 6.5%
|
|||
IT Services - 1.5%
|
|||
Shopify Inc Class A (a)
|
25,548
|
2,940,688
|
|
Software - 5.0%
|
|||
Bitfarms Ltd/Canada (a)(b)
|
2,921,042
|
2,419,038
|
|
Hive Digital Technologies Ltd (United States) (a)
|
1,230,110
|
2,214,198
|
|
Hut 8 Corp (United States) (a)(b)
|
270,979
|
5,040,210
|
|
9,673,446
|
|||
TOTAL CANADA
|
12,614,134
|
||
CHINA - 1.8%
|
|||
Communication Services - 0.8%
|
|||
Entertainment - 0.8%
|
|||
Boyaa Interactive International Ltd (b)
|
2,147,000
|
1,517,943
|
|
Information Technology - 1.0%
|
|||
Technology Hardware, Storage & Peripherals - 1.0%
|
|||
Canaan Inc Class A ADR (a)(b)
|
3,240,398
|
2,003,538
|
|
TOTAL CHINA
|
3,521,481
|
||
GERMANY - 0.4%
|
|||
Information Technology - 0.4%
|
|||
Software - 0.4%
|
|||
Northern Data AG (a)(b)
|
30,072
|
847,200
|
|
ISRAEL - 2.7%
|
|||
Financials - 2.7%
|
|||
Capital Markets - 2.7%
|
|||
Etoro Group Ltd Class A
|
79,977
|
5,325,668
|
|
ITALY - 1.2%
|
|||
Financials - 1.2%
|
|||
Financial Services - 1.2%
|
|||
Nexi SpA (c)(d)
|
409,523
|
2,439,166
|
|
JAPAN - 6.2%
|
|||
Communication Services - 1.3%
|
|||
Media - 1.3%
|
|||
Ceres Inc/Japan (b)
|
142,800
|
2,472,518
|
|
Financials - 4.1%
|
|||
Capital Markets - 3.2%
|
|||
Monex Group Inc
|
473,000
|
2,321,693
|
|
SBI Holdings Inc
|
112,600
|
3,921,064
|
|
6,242,757
|
|||
Financial Services - 0.9%
|
|||
GMO Payment Gateway Inc
|
28,900
|
1,868,911
|
|
TOTAL FINANCIALS
|
8,111,668
|
||
Information Technology - 0.8%
|
|||
IT Services - 0.8%
|
|||
GMO internet group Inc
|
65,100
|
1,625,641
|
|
TOTAL JAPAN
|
12,209,827
|
||
MALAYSIA - 1.0%
|
|||
Industrials - 1.0%
|
|||
Professional Services - 1.0%
|
|||
My EG Services Bhd
|
8,332,000
|
1,879,919
|
|
NETHERLANDS - 1.3%
|
|||
Financials - 1.3%
|
|||
Financial Services - 1.3%
|
|||
Adyen NV (a)(c)(d)
|
1,377
|
2,518,984
|
|
UNITED ARAB EMIRATES - 1.0%
|
|||
Information Technology - 1.0%
|
|||
Software - 1.0%
|
|||
Phoenix Group PLC (a)
|
4,618,976
|
2,012,160
|
|
UNITED STATES - 68.9%
|
|||
Financials - 38.2%
|
|||
Capital Markets - 19.3%
|
|||
Bakkt Holdings Inc Class A (a)(b)
|
115,692
|
1,613,903
|
|
Coinbase Global Inc Class A (a)
|
81,356
|
28,514,465
|
|
Galaxy Digital Inc Class A (Canada)
|
127,885
|
2,794,819
|
|
Robinhood Markets Inc Class A (a)
|
48,874
|
4,576,073
|
|
37,499,260
|
|||
Financial Services - 18.9%
|
|||
Block Inc Class A (a)
|
96,360
|
6,545,735
|
|
Corpay Inc (a)
|
8,104
|
2,689,069
|
|
Fiserv Inc (a)
|
16,137
|
2,782,180
|
|
Flywire Corp (a)
|
209,459
|
2,450,670
|
|
Global Payments Inc
|
34,543
|
2,764,822
|
|
Marqeta Inc Class A (a)
|
449,346
|
2,619,687
|
|
Mastercard Inc Class A
|
4,535
|
2,548,398
|
|
Paymentus Holdings Inc Class A (a)
|
51,042
|
1,671,625
|
|
Payoneer Global Inc (a)
|
308,583
|
2,113,794
|
|
PayPal Holdings Inc (a)
|
36,389
|
2,704,430
|
|
Shift4 Payments Inc Class A (a)(b)
|
28,137
|
2,788,658
|
|
Visa Inc Class A
|
7,199
|
2,556,005
|
|
WEX Inc (a)
|
19,158
|
2,814,119
|
|
37,049,192
|
|||
TOTAL FINANCIALS
|
74,548,452
|
||
Information Technology - 30.7%
|
|||
IT Services - 3.4%
|
|||
Applied Digital Corp (a)(b)
|
661,460
|
6,660,902
|
|
Software - 27.3%
|
|||
Bit Digital Inc (a)(b)
|
1,207,510
|
2,644,447
|
|
Bitdeer Technologies Group Class A (a)(b)
|
328,363
|
3,769,607
|
|
Cipher Mining Inc (a)(b)
|
949,629
|
4,539,227
|
|
Cleanspark Inc (a)(b)
|
726,241
|
8,010,438
|
|
Core Scientific Inc (a)
|
465,674
|
7,949,055
|
|
Exodus Movement Inc Class A (a)(b)
|
38,895
|
1,121,343
|
|
MARA Holdings Inc (a)(b)
|
678,717
|
10,642,283
|
|
Riot Platforms Inc (a)
|
775,737
|
8,765,828
|
|
Terawulf Inc (a)(b)
|
1,337,268
|
5,857,234
|
|
53,299,462
|
|||
TOTAL INFORMATION TECHNOLOGY
|
59,960,364
|
||
TOTAL UNITED STATES
|
134,508,816
|
||
TOTAL COMMON STOCKS
(Cost $156,157,355)
|
195,124,368
|
||
Money Market Funds - 28.8%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (e)
|
4.32
|
425,668
|
425,752
|
|
Fidelity Securities Lending Cash Central Fund (e)(f)
|
4.32
|
55,920,499
|
55,926,092
|
|
TOTAL MONEY MARKET FUNDS
(Cost $56,351,845)
|
56,351,844
|
|||
TOTAL INVESTMENT IN SECURITIES - 128.6%
(Cost $212,509,200)
|
251,476,212
|
NET OTHER ASSETS (LIABILITIES) - (28.6)%
|
(55,909,185)
|
NET ASSETS - 100.0%
|
195,567,027
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME Nasdaq 100 Index Contracts (United States)
|
2
|
Sep 2025
|
91,573
|
4,091
|
4,091
|
CME Russell 2000 Index Contracts (United States)
|
3
|
Sep 2025
|
328,755
|
11,200
|
11,200
|
TOTAL FUTURES CONTRACTS
|
15,291
|
||||
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
|
(a)
|
Non-income producing
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(c)
|
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 $4,958,150 or 2.5% of net assets.
|
(d)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $4,958,150 or 2.5% of net assets.
|
(e)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(f)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
40,485
|
19,542,528
|
19,157,261
|
10,727
|
-
|
-
|
425,752
|
425,668
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
-
|
242,368,975
|
186,442,882
|
481,503
|
-
|
(1)
|
55,926,092
|
55,920,499
|
0.2%
|
Total
|
40,485
|
261,911,503
|
205,600,143
|
492,230
|
-
|
(1)
|
56,351,844
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
3,990,461
|
3,990,461
|
-
|
-
|
Financials
|
101,874,977
|
101,874,977
|
-
|
-
|
Industrials
|
1,879,919
|
1,879,919
|
-
|
-
|
Information Technology
|
87,379,011
|
87,379,011
|
-
|
-
|
Money Market Funds
|
56,351,844
|
56,351,844
|
-
|
-
|
Total Investments in Securities:
|
251,476,212
|
251,476,212
|
-
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
15,291
|
15,291
|
-
|
-
|
Total Assets
|
15,291
|
15,291
|
-
|
-
|
Total Derivative Instruments:
|
15,291
|
15,291
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
15,291
|
0
|
Total Equity Risk
|
15,291
|
0
|
Total Value of Derivatives
|
15,291
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $55,246,355) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $156,157,355)
|
$
|
195,124,368
|
||
Fidelity Central Funds (cost $56,351,845)
|
56,351,844
|
|||
Total Investment in Securities (cost $212,509,200)
|
$
|
251,476,212
|
||
Segregated cash with brokers for derivative instruments
|
80,571
|
|||
Cash
|
47,559
|
|||
Dividends receivable
|
17,224
|
|||
Distributions receivable from Fidelity Central Funds
|
54,926
|
|||
Receivable for daily variation margin on futures contracts
|
1,002
|
|||
Total assets
|
251,677,494
|
|||
Liabilities
|
||||
Payable to custodian bank
|
$
|
47,679
|
||
Payable for investments purchased
|
78,864
|
|||
Accrued management fee
|
57,832
|
|||
Collateral on securities loaned
|
55,926,092
|
|||
Total liabilities
|
56,110,467
|
|||
Net Assets
|
$
|
195,567,027
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
171,680,829
|
||
Total accumulated earnings (loss)
|
23,886,198
|
|||
Net Assets
|
$
|
195,567,027
|
||
Net Asset Value, offering price and redemption price per share ($195,567,027 ÷ 5,500,000 shares)
|
$
|
35.56
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
426,467
|
||
Special dividends
|
83,187
|
|||
Interest
|
1,431
|
|||
Income from Fidelity Central Funds (including $481,503 from security lending)
|
492,230
|
|||
Total income
|
1,003,315
|
|||
Expenses
|
||||
Management fee
|
$
|
553,772
|
||
Independent trustees' fees and expenses
|
540
|
|||
Miscellaneous
|
293
|
|||
Total expenses before reductions
|
554,605
|
|||
Expense reductions
|
(1,014)
|
|||
Total expenses after reductions
|
553,591
|
|||
Net Investment income (loss)
|
449,724
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(10,244,987)
|
|||
Redemptions in-kind
|
16,124,101
|
|||
Foreign currency transactions
|
(13,363)
|
|||
Futures contracts
|
(22,609)
|
|||
Total net realized gain (loss)
|
5,843,142
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
12,596,565
|
|||
Fidelity Central Funds
|
(1)
|
|||
Assets and liabilities in foreign currencies
|
11,439
|
|||
Futures contracts
|
15,211
|
|||
Total change in net unrealized appreciation (depreciation)
|
12,623,214
|
|||
Net gain (loss)
|
18,466,356
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
18,916,080
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
449,724
|
$
|
(127,893)
|
Net realized gain (loss)
|
5,843,142
|
8,999,521
|
||
Change in net unrealized appreciation (depreciation)
|
12,623,214
|
17,470,116
|
||
Net increase (decrease) in net assets resulting from operations
|
18,916,080
|
26,341,744
|
||
Distributions to shareholders
|
(1,957,600)
|
(135,150)
|
||
Share transactions
|
||||
Proceeds from sales of shares
|
104,716,736
|
51,747,447
|
||
Cost of shares redeemed
|
(29,900,709)
|
(10,623,302)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
74,816,027
|
41,124,145
|
||
Total increase (decrease) in net assets
|
91,774,507
|
67,330,739
|
||
Net Assets
|
||||
Beginning of period
|
103,792,520
|
36,461,781
|
||
End of period
|
$
|
195,567,027
|
$
|
103,792,520
|
Other Information
|
||||
Shares
|
||||
Sold
|
2,900,000
|
2,050,000
|
||
Redeemed
|
(950,000)
|
(400,000)
|
||
Net increase (decrease)
|
1,950,000
|
1,650,000
|
||
Fidelity® Crypto Industry and Digital Payments ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
29.24
|
$
|
19.19
|
$
|
12.39
|
$
|
25.76
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.10 D
|
(.04)
|
(.03)
|
(.01)
|
||||
Net realized and unrealized gain (loss)
|
6.60
|
10.14
|
6.83
|
(13.36)
|
||||
Total from investment operations
|
6.70
|
10.10
|
6.80
|
(13.37)
|
||||
Distributions from net investment income
|
(.38)
|
(.05)
|
-
|
-
|
||||
Total distributions
|
(.38)
|
(.05)
|
-
|
-
|
||||
Net asset value, end of period
|
$
|
35.56
|
$
|
29.24
|
$
|
19.19
|
$
|
12.39
|
Total Return E,F,G
|
22.94 % |
52.67%
|
54.94%
|
(51.92)%
|
||||
Ratios to Average Net Assets C,H,I
|
||||||||
Expenses before reductions
|
.39%
|
.42%
|
.39%
|
.39% J
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% J
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% J
|
||||
Net investment income (loss)
|
.32% D
|
(.19)%
|
(.19)%
|
(.29)% J
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
195,567
|
$
|
103,793
|
$
|
36,462
|
$
|
13,005
|
Portfolio turnover rate K,L
|
79 % |
53%
|
55%
|
28% M
|
Common Stocks - 100.0%
|
|||
Shares
|
Value ($)
|
||
AUSTRALIA - 7.5%
|
|||
Health Care - 6.4%
|
|||
Health Care Equipment & Supplies - 3.5%
|
|||
Cochlear Ltd
|
1,483
|
291,973
|
|
Health Care Technology - 2.9%
|
|||
Pro Medicus Ltd
|
1,333
|
249,041
|
|
TOTAL HEALTH CARE
|
541,014
|
||
Information Technology - 1.1%
|
|||
Software - 1.1%
|
|||
Catapult Group International Ltd (a)
|
23,877
|
91,696
|
|
TOTAL AUSTRALIA
|
632,710
|
||
CANADA - 1.0%
|
|||
Health Care - 1.0%
|
|||
Health Care Providers & Services - 1.0%
|
|||
Well Health Technologies Corp (a)
|
29,237
|
86,993
|
|
CHINA - 6.6%
|
|||
Consumer Staples - 5.8%
|
|||
Consumer Staples Distribution & Retail - 5.8%
|
|||
Alibaba Health Information Technology Ltd (a)
|
272,000
|
164,239
|
|
JD Health International Inc (a)(b)(c)
|
37,400
|
204,867
|
|
Ping An Healthcare and Technology Co Ltd (b)(c)
|
104,700
|
116,971
|
|
486,077
|
|||
Health Care - 0.8%
|
|||
Health Care Technology - 0.8%
|
|||
Yidu Tech Inc (a)(b)(c)
|
90,200
|
66,759
|
|
TOTAL CHINA
|
552,836
|
||
DENMARK - 2.1%
|
|||
Health Care - 2.1%
|
|||
Health Care Equipment & Supplies - 2.1%
|
|||
Demant A/S (a)
|
4,161
|
172,966
|
|
GERMANY - 3.7%
|
|||
Health Care - 3.7%
|
|||
Health Care Equipment & Supplies - 3.7%
|
|||
Siemens Healthineers AG (b)(c)
|
5,687
|
314,158
|
|
JAPAN - 2.6%
|
|||
Health Care - 2.6%
|
|||
Health Care Equipment & Supplies - 1.6%
|
|||
Nihon Kohden Corp
|
10,800
|
128,304
|
|
Health Care Technology - 1.0%
|
|||
JMDC Inc
|
3,200
|
88,260
|
|
TOTAL JAPAN
|
216,564
|
||
KOREA (SOUTH) - 1.3%
|
|||
Health Care - 1.3%
|
|||
Health Care Technology - 1.3%
|
|||
Lunit Inc (a)
|
2,518
|
107,467
|
|
NETHERLANDS - 5.4%
|
|||
Consumer Staples - 1.5%
|
|||
Consumer Staples Distribution & Retail - 1.5%
|
|||
Redcare Pharmacy NV (a)(b)(c)
|
1,124
|
123,562
|
|
Health Care - 3.9%
|
|||
Health Care Equipment & Supplies - 3.9%
|
|||
Koninklijke Philips NV
|
13,788
|
330,337
|
|
TOTAL NETHERLANDS
|
453,899
|
||
SWEDEN - 3.5%
|
|||
Health Care - 3.5%
|
|||
Health Care Technology - 3.5%
|
|||
RaySearch Laboratories AB B Shares
|
2,820
|
99,125
|
|
Sectra AB B Shares
|
5,229
|
192,252
|
|
TOTAL SWEDEN
|
291,377
|
||
SWITZERLAND - 4.1%
|
|||
Consumer Staples - 0.8%
|
|||
Consumer Staples Distribution & Retail - 0.8%
|
|||
DocMorris AG (a)
|
8,149
|
65,263
|
|
Health Care - 3.3%
|
|||
Health Care Equipment & Supplies - 3.3%
|
|||
Sonova Holding AG
|
947
|
281,245
|
|
TOTAL SWITZERLAND
|
346,508
|
||
UNITED STATES - 62.2%
|
|||
Health Care - 58.3%
|
|||
Health Care Equipment & Supplies - 28.1%
|
|||
Axogen Inc (a)
|
6,881
|
74,659
|
|
Dexcom Inc (a)
|
4,312
|
376,394
|
|
Inspire Medical Systems Inc (a)
|
1,237
|
160,525
|
|
Insulet Corp (a)
|
1,084
|
340,571
|
|
Intuitive Surgical Inc (a)
|
661
|
359,194
|
|
iRhythm Technologies Inc (a)
|
1,232
|
189,679
|
|
Masimo Corp (a)
|
1,316
|
221,378
|
|
Omnicell Inc (a)
|
3,632
|
106,781
|
|
ResMed Inc
|
1,475
|
380,550
|
|
Senseonics Holdings Inc (a)
|
120,616
|
57,461
|
|
Tandem Diabetes Care Inc (a)
|
5,443
|
101,458
|
|
2,368,650
|
|||
Health Care Providers & Services - 9.9%
|
|||
Astrana Health Inc (a)
|
3,999
|
99,495
|
|
Cigna Group/The
|
529
|
174,877
|
|
CorVel Corp (a)
|
1,359
|
139,678
|
|
Hims & Hers Health Inc Class A (a)
|
4,628
|
230,706
|
|
Premier Inc Class A
|
5,675
|
124,453
|
|
Talkspace Inc Class A (a)
|
22,404
|
62,283
|
|
831,492
|
|||
Health Care Technology - 18.2%
|
|||
Doximity Inc Class A (a)
|
3,947
|
242,109
|
|
Evolent Health Inc Class A (a)
|
11,523
|
129,749
|
|
GoodRx Holdings Inc Class A (a)
|
16,958
|
84,451
|
|
Health Catalyst Inc (a)
|
14,742
|
55,577
|
|
HealthStream Inc
|
3,012
|
83,342
|
|
LifeMD Inc (a)
|
6,013
|
81,897
|
|
Phreesia Inc (a)
|
4,437
|
126,277
|
|
Teladoc Health Inc (a)
|
14,971
|
130,397
|
|
TruBridge Inc (a)
|
2,638
|
61,782
|
|
Veeva Systems Inc Class A (a)
|
1,301
|
374,663
|
|
Waystar Holding Corp (a)
|
3,867
|
158,044
|
|
1,528,288
|
|||
Life Sciences Tools & Services - 2.1%
|
|||
IQVIA Holdings Inc (a)
|
1,109
|
174,767
|
|
TOTAL HEALTH CARE
|
4,903,197
|
||
Industrials - 2.0%
|
|||
Professional Services - 2.0%
|
|||
Maximus Inc
|
2,386
|
167,497
|
|
Information Technology - 1.9%
|
|||
Technology Hardware, Storage & Peripherals - 1.9%
|
|||
Apple Inc
|
809
|
165,983
|
|
TOTAL UNITED STATES
|
5,236,677
|
||
TOTAL COMMON STOCKS
(Cost $7,644,046)
|
8,412,155
|
||
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $7,644,046)
|
8,412,155
|
NET OTHER ASSETS (LIABILITIES) - 0.0%
|
3,001
|
NET ASSETS - 100.0%
|
8,415,156
|
(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 $826,317 or 9.8% of net assets.
|
(c)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $826,317 or 9.8% of net assets.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
-
|
690,518
|
690,518
|
131
|
-
|
-
|
-
|
-
|
0.0%
|
Total
|
-
|
690,518
|
690,518
|
131
|
-
|
-
|
-
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Consumer Staples
|
674,902
|
674,902
|
-
|
-
|
Health Care
|
7,312,077
|
7,312,077
|
-
|
-
|
Industrials
|
167,497
|
167,497
|
-
|
-
|
Information Technology
|
257,679
|
257,679
|
-
|
-
|
Total Investments in Securities:
|
8,412,155
|
8,412,155
|
-
|
-
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $7,644,046)
|
$
|
8,412,155
|
||
Cash
|
1,771
|
|||
Foreign currency held at value (cost $265)
|
267
|
|||
Dividends receivable
|
3,635
|
|||
Total assets
|
8,417,828
|
|||
Liabilities
|
||||
Accrued management fee
|
$
|
2,672
|
||
Total liabilities
|
2,672
|
|||
Net Assets
|
$
|
8,415,156
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
11,277,702
|
||
Total accumulated earnings (loss)
|
(2,862,546)
|
|||
Net Assets
|
$
|
8,415,156
|
||
Net Asset Value, offering price and redemption price per share ($8,415,156 ÷ 400,000 shares)
|
$
|
21.04
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
44,827
|
||
Special dividends
|
113,207
|
|||
Income from Fidelity Central Funds
|
131
|
|||
Total income
|
158,165
|
|||
Expenses
|
||||
Management fee
|
$
|
31,817
|
||
Independent trustees' fees and expenses
|
34
|
|||
Miscellaneous
|
22
|
|||
Total expenses before reductions
|
31,873
|
|||
Expense reductions
|
(51)
|
|||
Total expenses after reductions
|
31,822
|
|||
Net Investment income (loss)
|
126,343
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Redemptions in-kind
|
245,641
|
|||
Unaffiliated issuers
|
(982,421)
|
|||
Foreign currency transactions
|
1,587
|
|||
Total net realized gain (loss)
|
(735,193)
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
1,868,576
|
|||
Assets and liabilities in foreign currencies
|
55
|
|||
Total change in net unrealized appreciation (depreciation)
|
1,868,631
|
|||
Net gain (loss)
|
1,133,438
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
1,259,781
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
126,343
|
$
|
2,851
|
Net realized gain (loss)
|
(735,193)
|
(938,755)
|
||
Change in net unrealized appreciation (depreciation)
|
1,868,631
|
339,751
|
||
Net increase (decrease) in net assets resulting from operations
|
1,259,781
|
(596,153)
|
||
Distributions to shareholders
|
(130,000)
|
(4,950)
|
||
Share transactions
|
||||
Cost of shares redeemed
|
(978,653)
|
(963,021)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
(978,653)
|
(963,021)
|
||
Total increase (decrease) in net assets
|
151,128
|
(1,564,124)
|
||
Net Assets
|
||||
Beginning of period
|
8,264,028
|
9,828,152
|
||
End of period
|
$
|
8,415,156
|
$
|
8,264,028
|
Other Information
|
||||
Shares
|
||||
Redeemed
|
(50,000)
|
(50,000)
|
||
Net increase (decrease)
|
(50,000)
|
(50,000)
|
||
Fidelity® Digital Health ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
18.36
|
$
|
19.66
|
$
|
18.58
|
$
|
25.10
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.31 D
|
.01
|
.03 E
|
(.01)
|
||||
Net realized and unrealized gain (loss)
|
2.70
|
(1.30)
|
1.08
|
(6.51)
|
||||
Total from investment operations
|
3.01
|
(1.29)
|
1.11
|
(6.52)
|
||||
Distributions from net investment income
|
(.33)
|
(.01)
|
(.03)
|
-
|
||||
Total distributions
|
(.33)
|
(.01)
|
(.03)
|
-
|
||||
Net asset value, end of period
|
$
|
21.04
|
$
|
18.36
|
$
|
19.66
|
$
|
18.58
|
Total Return F,G,H
|
16.43 % |
(6.52)%
|
5.98%
|
(25.99)%
|
||||
Ratios to Average Net Assets C,I,J
|
||||||||
Expenses before reductions
|
.39%
|
.42%
|
.39%
|
.39% K
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% K
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% K
|
||||
Net investment income (loss)
|
1.55% D
|
.03%
|
.18% E
|
(.05)% K
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
8,415
|
$
|
8,264
|
$
|
9,828
|
$
|
9,289
|
Portfolio turnover rate L
|
47 % M |
42% M
|
36%
|
48% M,N
|
Common Stocks - 99.8%
|
|||
Shares
|
Value ($)
|
||
AUSTRIA - 0.9%
|
|||
Information Technology - 0.9%
|
|||
Semiconductors & Semiconductor Equipment - 0.9%
|
|||
ams-OSRAM AG (a)
|
20,389
|
272,280
|
|
BELGIUM - 1.7%
|
|||
Information Technology - 1.7%
|
|||
Semiconductors & Semiconductor Equipment - 1.7%
|
|||
Melexis NV
|
5,699
|
482,667
|
|
CANADA - 1.5%
|
|||
Industrials - 1.5%
|
|||
Machinery - 1.5%
|
|||
NFI Group Inc (a)
|
31,527
|
416,817
|
|
CHINA - 26.7%
|
|||
Consumer Discretionary - 20.4%
|
|||
Automobile Components - 2.6%
|
|||
CALB Group Co Ltd H Shares (a)(b)(c)(d)
|
151,500
|
330,019
|
|
Hesai Group ADR (a)
|
18,412
|
404,144
|
|
734,163
|
|||
Automobiles - 17.8%
|
|||
BYD Co Ltd H Shares
|
70,000
|
1,092,357
|
|
Li Auto Inc A Shares (a)
|
81,200
|
1,106,803
|
|
NIO Inc A Shares (a)
|
216,730
|
756,484
|
|
XPeng Inc A Shares (a)
|
108,400
|
974,910
|
|
Yadea Group Holdings Ltd (b)(d)
|
285,073
|
456,116
|
|
Zhejiang Leapmotor Technology Co Ltd H Shares (a)(b)(d)
|
86,000
|
599,261
|
|
4,985,931
|
|||
TOTAL CONSUMER DISCRETIONARY
|
5,720,094
|
||
Industrials - 4.3%
|
|||
Electrical Equipment - 4.3%
|
|||
Contemporary Amperex Technology Co Ltd H Shares (c)
|
29,100
|
1,220,347
|
|
Information Technology - 1.1%
|
|||
Semiconductors & Semiconductor Equipment - 1.1%
|
|||
indie Semiconductor Inc Class A (a)(c)
|
90,376
|
321,738
|
|
Materials - 0.9%
|
|||
Chemicals - 0.9%
|
|||
Ganfeng Lithium Group Co Ltd H Shares (b)(c)(d)
|
91,880
|
266,861
|
|
TOTAL CHINA
|
7,529,040
|
||
FRANCE - 2.6%
|
|||
Consumer Discretionary - 2.6%
|
|||
Automobile Components - 2.6%
|
|||
Forvia SE (a)
|
46,037
|
465,397
|
|
Valeo SE
|
24,500
|
267,174
|
|
TOTAL FRANCE
|
732,571
|
||
GERMANY - 4.4%
|
|||
Information Technology - 4.4%
|
|||
Semiconductors & Semiconductor Equipment - 4.4%
|
|||
Infineon Technologies AG
|
29,446
|
1,248,322
|
|
HONG KONG - 0.7%
|
|||
Consumer Discretionary - 0.7%
|
|||
Automobiles - 0.7%
|
|||
Polestar Automotive Holding UK PLC Class A ADR (a)(c)
|
198,981
|
212,909
|
|
ISRAEL - 1.7%
|
|||
Consumer Discretionary - 1.7%
|
|||
Automobile Components - 1.7%
|
|||
Mobileye Global Inc Class A (a)(c)
|
25,914
|
465,934
|
|
JAPAN - 9.9%
|
|||
Consumer Discretionary - 1.3%
|
|||
Household Durables - 1.3%
|
|||
JVCKenwood Corp
|
47,400
|
379,016
|
|
Information Technology - 8.6%
|
|||
Electronic Equipment, Instruments & Components - 1.7%
|
|||
Alps Alpine Co Ltd
|
45,300
|
486,886
|
|
Semiconductors & Semiconductor Equipment - 6.9%
|
|||
Allegro MicroSystems Inc (a)(c)
|
21,707
|
742,162
|
|
Renesas Electronics Corp
|
94,500
|
1,170,415
|
|
1,912,577
|
|||
TOTAL INFORMATION TECHNOLOGY
|
2,399,463
|
||
TOTAL JAPAN
|
2,778,479
|
||
KOREA (SOUTH) - 4.0%
|
|||
Industrials - 1.9%
|
|||
Electrical Equipment - 1.9%
|
|||
Doosan Fuel Cell Co Ltd (a)
|
13,774
|
229,124
|
|
LG Energy Solution Ltd (a)
|
1,375
|
302,590
|
|
531,714
|
|||
Information Technology - 1.0%
|
|||
Electronic Equipment, Instruments & Components - 1.0%
|
|||
Samsung SDI Co Ltd
|
2,288
|
292,951
|
|
Materials - 1.1%
|
|||
Chemicals - 1.1%
|
|||
LG Chem Ltd
|
1,984
|
310,919
|
|
TOTAL KOREA (SOUTH)
|
1,135,584
|
||
NETHERLANDS - 4.5%
|
|||
Information Technology - 4.5%
|
|||
Semiconductors & Semiconductor Equipment - 4.5%
|
|||
NXP Semiconductors NV
|
5,740
|
1,254,133
|
|
SWEDEN - 3.2%
|
|||
Consumer Discretionary - 3.2%
|
|||
Automobile Components - 3.2%
|
|||
Autoliv Inc
|
8,034
|
899,005
|
|
UNITED STATES - 38.0%
|
|||
Consumer Discretionary - 16.3%
|
|||
Automobile Components - 6.2%
|
|||
Adient PLC (a)
|
25,123
|
488,894
|
|
Gentex Corp
|
32,259
|
709,375
|
|
Visteon Corp (a)
|
5,997
|
559,520
|
|
1,757,789
|
|||
Automobiles - 9.3%
|
|||
Lucid Group Inc Class A (a)(c)
|
235,881
|
497,709
|
|
Rivian Automotive Inc Class A (a)(c)
|
68,757
|
944,721
|
|
Tesla Inc (a)
|
3,630
|
1,153,106
|
|
2,595,536
|
|||
Specialty Retail - 0.8%
|
|||
EVgo Inc Class A (a)(c)
|
62,322
|
227,475
|
|
TOTAL CONSUMER DISCRETIONARY
|
4,580,800
|
||
Industrials - 12.9%
|
|||
Electrical Equipment - 5.4%
|
|||
Bloom Energy Corp Class A (a)(c)
|
13,410
|
320,767
|
|
ChargePoint Holdings Inc Class A (a)(c)
|
266,681
|
187,556
|
|
Plug Power Inc (a)(c)
|
213,565
|
318,212
|
|
Sensata Technologies Holding PLC
|
23,698
|
713,547
|
|
1,540,082
|
|||
Ground Transportation - 7.5%
|
|||
Lyft Inc Class A (a)
|
48,140
|
758,686
|
|
Uber Technologies Inc (a)
|
14,445
|
1,347,719
|
|
2,106,405
|
|||
TOTAL INDUSTRIALS
|
3,646,487
|
||
Information Technology - 7.7%
|
|||
Electronic Equipment, Instruments & Components - 2.0%
|
|||
Aeva Technologies Inc (a)(c)
|
14,616
|
552,339
|
|
Semiconductors & Semiconductor Equipment - 5.7%
|
|||
Analog Devices Inc
|
793
|
188,749
|
|
Diodes Inc (a)
|
5,148
|
272,278
|
|
Lattice Semiconductor Corp (a)
|
5,997
|
293,793
|
|
ON Semiconductor Corp (a)
|
5,230
|
274,104
|
|
SiTime Corp (a)(c)
|
1,332
|
283,823
|
|
Skyworks Solutions Inc
|
4,053
|
302,030
|
|
1,614,777
|
|||
TOTAL INFORMATION TECHNOLOGY
|
2,167,116
|
||
Materials - 1.1%
|
|||
Chemicals - 1.1%
|
|||
Albemarle Corp
|
4,806
|
301,192
|
|
TOTAL UNITED STATES
|
10,695,595
|
||
TOTAL COMMON STOCKS
(Cost $27,479,034)
|
28,123,336
|
||
Money Market Funds - 23.6%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Securities Lending Cash Central Fund (e)(f)
(Cost $6,656,900)
|
4.32
|
6,656,234
|
6,656,900
|
|
TOTAL INVESTMENT IN SECURITIES - 123.4%
(Cost $34,135,934)
|
34,780,236
|
NET OTHER ASSETS (LIABILITIES) - (23.4)%
|
(6,599,608)
|
NET ASSETS - 100.0%
|
28,180,628
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME Nasdaq 100 Index Contracts (United States)
|
1
|
Sep 2025
|
45,787
|
1,451
|
1,451
|
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
|
(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 $1,652,257 or 5.9% of net assets.
|
(c)
|
Security or a portion of the security is on loan at period end.
|
(d)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $1,652,257 or 5.9% of net assets.
|
(e)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(f)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
8,184
|
3,677,716
|
3,685,900
|
497
|
-
|
-
|
-
|
-
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
-
|
34,286,832
|
27,629,932
|
120,764
|
-
|
-
|
6,656,900
|
6,656,234
|
0.0%
|
Total
|
8,184
|
37,964,548
|
31,315,832
|
121,261
|
-
|
-
|
6,656,900
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Consumer Discretionary
|
12,990,329
|
12,990,329
|
-
|
-
|
Industrials
|
5,815,365
|
5,815,365
|
-
|
-
|
Information Technology
|
8,438,670
|
8,438,670
|
-
|
-
|
Materials
|
878,972
|
878,972
|
-
|
-
|
Money Market Funds
|
6,656,900
|
6,656,900
|
-
|
-
|
Total Investments in Securities:
|
34,780,236
|
34,780,236
|
-
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
1,451
|
1,451
|
-
|
-
|
Total Assets
|
1,451
|
1,451
|
-
|
-
|
Total Derivative Instruments:
|
1,451
|
1,451
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
1,451
|
0
|
Total Equity Risk
|
1,451
|
0
|
Total Value of Derivatives
|
1,451
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $6,419,111) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $27,479,034)
|
$
|
28,123,336
|
||
Fidelity Central Funds (cost $6,656,900)
|
6,656,900
|
|||
Total Investment in Securities (cost $34,135,934)
|
$
|
34,780,236
|
||
Segregated cash with brokers for derivative instruments
|
6,399
|
|||
Foreign currency held at value (cost $468)
|
471
|
|||
Dividends receivable
|
49,825
|
|||
Distributions receivable from Fidelity Central Funds
|
14,841
|
|||
Receivable for daily variation margin on futures contracts
|
284
|
|||
Other receivables
|
8
|
|||
Total assets
|
34,852,064
|
|||
Liabilities
|
||||
Payable to custodian bank
|
$
|
5,638
|
||
Accrued management fee
|
8,898
|
|||
Collateral on securities loaned
|
6,656,900
|
|||
Total liabilities
|
6,671,436
|
|||
Net Assets
|
$
|
28,180,628
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
59,133,059
|
||
Total accumulated earnings (loss)
|
(30,952,431)
|
|||
Net Assets
|
$
|
28,180,628
|
||
Net Asset Value, offering price and redemption price per share ($28,180,628 ÷ 1,900,000 shares)
|
$
|
14.83
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
172,163
|
||
Special dividends
|
19,323
|
|||
Income from Fidelity Central Funds (including $120,764 from security lending)
|
121,261
|
|||
Total income
|
312,747
|
|||
Expenses
|
||||
Management fee
|
$
|
113,905
|
||
Independent trustees' fees and expenses
|
123
|
|||
Miscellaneous
|
265
|
|||
Total expenses before reductions
|
114,293
|
|||
Expense reductions
|
(361)
|
|||
Total expenses after reductions
|
113,932
|
|||
Net Investment income (loss)
|
198,815
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(10,588,304)
|
|||
Redemptions in-kind
|
457,251
|
|||
Foreign currency transactions
|
(1,262)
|
|||
Futures contracts
|
5,767
|
|||
Total net realized gain (loss)
|
(10,126,548)
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
12,853,794
|
|||
Assets and liabilities in foreign currencies
|
992
|
|||
Futures contracts
|
1,451
|
|||
Total change in net unrealized appreciation (depreciation)
|
12,856,237
|
|||
Net gain (loss)
|
2,729,689
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
2,928,504
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
198,815
|
$
|
190,710
|
Net realized gain (loss)
|
(10,126,548)
|
(7,645,453)
|
||
Change in net unrealized appreciation (depreciation)
|
12,856,237
|
(8,068,367)
|
||
Net increase (decrease) in net assets resulting from operations
|
2,928,504
|
(15,523,110)
|
||
Distributions to shareholders
|
(169,000)
|
(178,200)
|
||
Share transactions
|
||||
Proceeds from sales of shares
|
2,453
|
1,007,818
|
||
Cost of shares redeemed
|
(7,368,497)
|
(6,914,724)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
(7,366,044)
|
(5,906,906)
|
||
Total increase (decrease) in net assets
|
(4,606,540)
|
(21,608,216)
|
||
Net Assets
|
||||
Beginning of period
|
32,787,168
|
54,395,384
|
||
End of period
|
$
|
28,180,628
|
$
|
32,787,168
|
Other Information
|
||||
Shares
|
||||
Sold
|
-
|
50,000
|
||
Redeemed
|
(550,000)
|
(450,000)
|
||
Net increase (decrease)
|
(550,000)
|
(400,000)
|
||
Fidelity® Electric Vehicles and Future Transportation ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
13.38
|
$
|
19.09
|
$
|
17.82
|
$
|
25.20
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.09 D
|
.07
|
.05
|
.04
|
||||
Net realized and unrealized gain (loss)
|
1.45
|
(5.71)
|
1.27
|
(7.39)
|
||||
Total from investment operations
|
1.54
|
(5.64)
|
1.32
|
(7.35)
|
||||
Distributions from net investment income
|
(.09)
|
(.07)
|
(.05)
|
(.03)
|
||||
Total distributions
|
(.09)
|
(.07)
|
(.05)
|
(.03)
|
||||
Net asset value, end of period
|
$
|
14.83
|
$
|
13.38
|
$
|
19.09
|
$
|
17.82
|
Total Return E,F,G
|
11.51 % |
(29.55)%
|
7.36%
|
(29.15)%
|
||||
Ratios to Average Net Assets C,H,I
|
||||||||
Expenses before reductions
|
.39%
|
.42%
|
.39%
|
.39% J
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% J
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% J
|
||||
Net investment income (loss)
|
.68% D
|
.44%
|
.26%
|
.25% J
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
28,181
|
$
|
32,787
|
$
|
54,395
|
$
|
38,318
|
Portfolio turnover rate K,L
|
77 % |
54%
|
62%
|
31% M
|
Common Stocks - 99.7%
|
|||
Shares
|
Value ($)
|
||
CHINA - 5.7%
|
|||
Communication Services - 3.7%
|
|||
Entertainment - 3.0%
|
|||
Netease Inc
|
43,600
|
1,171,924
|
|
Interactive Media & Services - 0.7%
|
|||
Hello Group Inc Class A ADR
|
35,972
|
303,604
|
|
TOTAL COMMUNICATION SERVICES
|
1,475,528
|
||
Information Technology - 2.0%
|
|||
Electronic Equipment, Instruments & Components - 1.3%
|
|||
Sunny Optical Technology Group Co Ltd
|
61,200
|
540,665
|
|
IT Services - 0.7%
|
|||
Vnet Group Inc Class A ADR (a)
|
41,135
|
283,831
|
|
TOTAL INFORMATION TECHNOLOGY
|
824,496
|
||
TOTAL CHINA
|
2,300,024
|
||
FRANCE - 2.6%
|
|||
Communication Services - 0.6%
|
|||
Entertainment - 0.6%
|
|||
Ubisoft Entertainment SA (a)
|
21,731
|
239,427
|
|
Information Technology - 2.0%
|
|||
Software - 2.0%
|
|||
Dassault Systemes SE
|
23,011
|
830,062
|
|
TOTAL FRANCE
|
1,069,489
|
||
GERMANY - 0.5%
|
|||
Information Technology - 0.5%
|
|||
IT Services - 0.5%
|
|||
Nagarro SE (a)
|
3,004
|
213,690
|
|
JAPAN - 1.5%
|
|||
Communication Services - 1.5%
|
|||
Entertainment - 1.5%
|
|||
Nexon Co Ltd
|
29,600
|
596,324
|
|
KOREA (SOUTH) - 12.0%
|
|||
Communication Services - 7.6%
|
|||
Entertainment - 4.8%
|
|||
Kakao Games Corp (a)
|
16,023
|
227,000
|
|
Krafton Inc (a)
|
2,055
|
552,731
|
|
NCSoft Corp
|
2,610
|
399,352
|
|
Netmarble Corp (b)(c)
|
5,893
|
270,722
|
|
Pearl Abyss Corp (a)
|
8,594
|
269,358
|
|
Wemade Co Ltd (a)
|
9,011
|
228,346
|
|
1,947,509
|
|||
Interactive Media & Services - 2.8%
|
|||
NAVER Corp
|
5,859
|
1,139,588
|
|
TOTAL COMMUNICATION SERVICES
|
3,087,097
|
||
Information Technology - 4.4%
|
|||
Technology Hardware, Storage & Peripherals - 4.4%
|
|||
Samsung Electronics Co Ltd
|
40,472
|
1,793,291
|
|
TOTAL KOREA (SOUTH)
|
4,880,388
|
||
SWEDEN - 1.4%
|
|||
Communication Services - 1.4%
|
|||
Entertainment - 1.4%
|
|||
Embracer Group AB B Shares (a)
|
25,061
|
283,890
|
|
Modern Times Group MTG AB B Shares (a)
|
21,342
|
268,723
|
|
TOTAL SWEDEN
|
552,613
|
||
TAIWAN - 0.7%
|
|||
Information Technology - 0.7%
|
|||
Semiconductors & Semiconductor Equipment - 0.7%
|
|||
Himax Technologies Inc ADR
|
29,751
|
265,676
|
|
UNITED ARAB EMIRATES - 0.3%
|
|||
Communication Services - 0.3%
|
|||
Interactive Media & Services - 0.3%
|
|||
Yalla Group Ltd ADR (a)
|
24,617
|
165,919
|
|
UNITED KINGDOM - 0.5%
|
|||
Information Technology - 0.5%
|
|||
IT Services - 0.5%
|
|||
Endava PLC Class A ADR (a)
|
13,356
|
204,614
|
|
UNITED STATES - 74.5%
|
|||
Communication Services - 23.2%
|
|||
Entertainment - 8.7%
|
|||
Electronic Arts Inc
|
6,775
|
1,081,967
|
|
ROBLOX Corp Class A (a)
|
12,781
|
1,344,561
|
|
Take-Two Interactive Software Inc (a)
|
4,574
|
1,110,796
|
|
3,537,324
|
|||
Interactive Media & Services - 14.5%
|
|||
Alphabet Inc Class A
|
10,161
|
1,790,673
|
|
Meta Platforms Inc Class A
|
2,484
|
1,833,416
|
|
Pinterest Inc Class A (a)
|
23,548
|
844,431
|
|
Reddit Inc Class A (a)
|
5,568
|
838,374
|
|
Snap Inc Class A (a)
|
68,464
|
594,952
|
|
5,901,846
|
|||
TOTAL COMMUNICATION SERVICES
|
9,439,170
|
||
Consumer Discretionary - 0.8%
|
|||
Leisure Products - 0.8%
|
|||
Peloton Interactive Inc Class A (a)
|
48,890
|
339,296
|
|
Industrials - 0.9%
|
|||
Professional Services - 0.9%
|
|||
Planet Labs PBC Class A (a)(d)
|
59,149
|
360,809
|
|
Information Technology - 43.4%
|
|||
IT Services - 0.6%
|
|||
Fastly Inc Class A (a)
|
32,309
|
228,102
|
|
Semiconductors & Semiconductor Equipment - 18.9%
|
|||
Advanced Micro Devices Inc (a)
|
14,399
|
2,043,218
|
|
Ambarella Inc (a)
|
6,126
|
404,714
|
|
Cirrus Logic Inc (a)
|
4,647
|
484,473
|
|
Monolithic Power Systems Inc
|
1,411
|
1,031,977
|
|
NVIDIA Corp
|
12,032
|
1,900,936
|
|
QUALCOMM Inc
|
11,457
|
1,824,642
|
|
7,689,960
|
|||
Software - 17.0%
|
|||
Adobe Inc (a)
|
4,125
|
1,595,880
|
|
Autodesk Inc (a)
|
4,363
|
1,350,654
|
|
Bentley Systems Inc Class B
|
11,009
|
594,156
|
|
Microsoft Corp
|
3,682
|
1,831,464
|
|
N-able Inc/US (a)
|
25,223
|
204,305
|
|
PTC Inc (a)
|
4,743
|
817,409
|
|
Unity Software Inc (a)
|
20,705
|
501,061
|
|
6,894,929
|
|||
Technology Hardware, Storage & Peripherals - 6.9%
|
|||
Apple Inc
|
8,418
|
1,727,121
|
|
Super Micro Computer Inc (a)
|
18,799
|
921,339
|
|
Turtle Beach Corp (a)
|
11,442
|
158,243
|
|
2,806,703
|
|||
TOTAL INFORMATION TECHNOLOGY
|
17,619,694
|
||
Real Estate - 6.2%
|
|||
Specialized REITs - 6.2%
|
|||
Digital Realty Trust Inc
|
6,956
|
1,212,639
|
|
Equinix Inc
|
1,649
|
1,311,731
|
|
2,524,370
|
|||
TOTAL UNITED STATES
|
30,283,339
|
||
TOTAL COMMON STOCKS
(Cost $35,174,500)
|
40,532,076
|
||
Money Market Funds - 0.7%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (e)
|
4.32
|
44,151
|
44,160
|
|
Fidelity Securities Lending Cash Central Fund (e)(f)
|
4.32
|
231,227
|
231,250
|
|
TOTAL MONEY MARKET FUNDS
(Cost $275,410)
|
275,410
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.4%
(Cost $35,449,910)
|
40,807,486
|
NET OTHER ASSETS (LIABILITIES) - (0.4)%
|
(153,514)
|
NET ASSETS - 100.0%
|
40,653,972
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME Nasdaq 100 Index Contracts (United States)
|
2
|
Sep 2025
|
91,573
|
3,403
|
3,403
|
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
|
(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 $270,722 or 0.7% of net assets.
|
(c)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $270,722 or 0.7% of net assets.
|
(d)
|
Security or a portion of the security is on loan at period end.
|
(e)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(f)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
-
|
1,964,953
|
1,920,793
|
1,415
|
-
|
-
|
44,160
|
44,151
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
-
|
18,300,035
|
18,068,785
|
10,379
|
-
|
-
|
231,250
|
231,227
|
0.0%
|
Total
|
-
|
20,264,988
|
19,989,578
|
11,794
|
-
|
-
|
275,410
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
15,556,078
|
15,556,078
|
-
|
-
|
Consumer Discretionary
|
339,296
|
339,296
|
-
|
-
|
Industrials
|
360,809
|
360,809
|
-
|
-
|
Information Technology
|
21,751,523
|
21,751,523
|
-
|
-
|
Real Estate
|
2,524,370
|
2,524,370
|
-
|
-
|
Money Market Funds
|
275,410
|
275,410
|
-
|
-
|
Total Investments in Securities:
|
40,807,486
|
40,807,486
|
-
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
3,403
|
3,403
|
-
|
-
|
Total Assets
|
3,403
|
3,403
|
-
|
-
|
Total Derivative Instruments:
|
3,403
|
3,403
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
3,403
|
0
|
Total Equity Risk
|
3,403
|
0
|
Total Value of Derivatives
|
3,403
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $225,700) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $35,174,500)
|
$
|
40,532,076
|
||
Fidelity Central Funds (cost $275,410)
|
275,410
|
|||
Total Investment in Securities (cost $35,449,910)
|
$
|
40,807,486
|
||
Segregated cash with brokers for derivative instruments
|
14,554
|
|||
Foreign currency held at value (cost $46,182)
|
46,297
|
|||
Dividends receivable
|
26,663
|
|||
Distributions receivable from Fidelity Central Funds
|
868
|
|||
Receivable for daily variation margin on futures contracts
|
567
|
|||
Total assets
|
40,896,435
|
|||
Liabilities
|
||||
Accrued management fee
|
$
|
11,213
|
||
Collateral on securities loaned
|
231,250
|
|||
Total liabilities
|
242,463
|
|||
Net Assets
|
$
|
40,653,972
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
38,583,210
|
||
Total accumulated earnings (loss)
|
2,070,762
|
|||
Net Assets
|
$
|
40,653,972
|
||
Net Asset Value, offering price and redemption price per share ($40,653,972 ÷ 1,200,000 shares)
|
$
|
33.88
|
Statement of Operations
|
||||
Year ended June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
248,049
|
||
Non-Cash dividends
|
167,482
|
|||
Interest
|
396
|
|||
Income from Fidelity Central Funds (including $10,379 from security lending)
|
11,794
|
|||
Total income
|
427,721
|
|||
Expenses
|
||||
Management fee
|
$
|
125,313
|
||
Independent trustees' fees and expenses
|
131
|
|||
Miscellaneous
|
82
|
|||
Total expenses before reductions
|
125,526
|
|||
Expense reductions
|
(1,424)
|
|||
Total expenses after reductions
|
124,102
|
|||
Net Investment income (loss)
|
303,619
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(1,453,252)
|
|||
Redemptions in-kind
|
2,431,772
|
|||
Foreign currency transactions
|
(3,586)
|
|||
Futures contracts
|
13,281
|
|||
Total net realized gain (loss)
|
988,215
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
2,592,939
|
|||
Assets and liabilities in foreign currencies
|
74
|
|||
Futures contracts
|
3,065
|
|||
Total change in net unrealized appreciation (depreciation)
|
2,596,078
|
|||
Net gain (loss)
|
3,584,293
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
3,887,912
|
Statement of Changes in Net Assets
|
||||
Year ended
June 30, 2025
|
Year ended
June 30, 2024
|
|||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
303,619
|
$
|
83,882
|
Net realized gain (loss)
|
988,215
|
2,308,628
|
||
Change in net unrealized appreciation (depreciation)
|
2,596,078
|
2,049,101
|
||
Net increase (decrease) in net assets resulting from operations
|
3,887,912
|
4,441,611
|
||
Distributions to shareholders
|
(321,750)
|
(100,500)
|
||
Share transactions
|
||||
Proceeds from sales of shares
|
11,031,831
|
20,617,140
|
||
Cost of shares redeemed
|
(7,503,621)
|
(8,087,398)
|
||
Net increase (decrease) in net assets resulting from share transactions
|
3,528,210
|
12,529,742
|
||
Total increase (decrease) in net assets
|
7,094,372
|
16,870,853
|
||
Net Assets
|
||||
Beginning of period
|
33,559,600
|
16,688,747
|
||
End of period
|
$
|
40,653,972
|
$
|
33,559,600
|
Other Information
|
||||
Shares
|
||||
Sold
|
350,000
|
750,000
|
||
Redeemed
|
(250,000)
|
(300,000)
|
||
Net increase (decrease)
|
100,000
|
450,000
|
||
Fidelity® Metaverse ETF |
Years ended June 30,
|
2025
|
2024
|
2023
|
2022 A
|
||||
Selected Per-Share Data
|
||||||||
Net asset value, beginning of period
|
$
|
30.51
|
$
|
25.67
|
$
|
21.32
|
$
|
25.28
|
Income from Investment Operations
|
||||||||
Net investment income (loss) B,C
|
.28 D
|
.10
|
.11 E
|
- F
|
||||
Net realized and unrealized gain (loss)
|
3.38
|
4.84
|
4.36
|
(3.96)
|
||||
Total from investment operations
|
3.66
|
4.94
|
4.47
|
(3.96)
|
||||
Distributions from net investment income
|
(.29)
|
(.10)
|
(.12)
|
-
|
||||
Total distributions
|
(.29)
|
(.10)
|
(.12)
|
-
|
||||
Net asset value, end of period
|
$
|
33.88
|
$
|
30.51
|
$
|
25.67
|
$
|
21.32
|
Total Return G,H,I
|
12.13 % |
19.25%
|
21.06%
|
(15.67)%
|
||||
Ratios to Average Net Assets C,J,K
|
||||||||
Expenses before reductions
|
.39%
|
.42%
|
.39%
|
.39% L
|
||||
Expenses net of fee waivers, if any
|
.39 % |
.40%
|
.39%
|
.39% L
|
||||
Expenses net of all reductions, if any
|
.39%
|
.40%
|
.39%
|
.39% L
|
||||
Net investment income (loss)
|
.94% D
|
.35%
|
.49% E
|
.01% L
|
||||
Supplemental Data
|
||||||||
Net assets, end of period (000 omitted)
|
$
|
40,654
|
$
|
33,560
|
$
|
16,689
|
$
|
10,658
|
Portfolio turnover rate M,N
|
30 % |
52%
|
47%
|
8% O
|
Fidelity Central Fund
|
Investment Manager
|
Investment Objective
|
Investment Practices
|
Expense RatioA
|
Fidelity Money Market Central Funds
|
Fidelity Management & Research Company LLC (FMR)
|
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
|
Short-term Investments
|
Less than .005%
|
Tax cost ($)
|
Gross unrealized appreciation ($)
|
Gross unrealized depreciation ($)
|
Net unrealized appreciation (depreciation)($)
|
|
Fidelity Clean Energy ETF
|
33,378,731
|
3,473,395
|
(9,220,428)
|
(5,747,033)
|
Fidelity Cloud Computing ETF
|
85,007,629
|
15,938,680
|
(6,387,090)
|
9,551,590
|
Fidelity Crypto Industry and Digital Payments ETF
|
214,652,830
|
52,152,260
|
(15,328,878)
|
36,823,382
|
Fidelity Digital Health ETF
|
7,836,540
|
1,580,506
|
(1,004,891)
|
575,615
|
Fidelity Electric Vehicles and Future Transportation ETF
|
34,370,683
|
4,139,365
|
(3,729,812)
|
409,553
|
Fidelity Metaverse ETF
|
35,809,165
|
7,283,423
|
(2,285,102)
|
4,998,321
|
Undistributed ordinary income ($)
|
Capital loss carryforward ($)
|
Net unrealized appreciation (depreciation) on securities and other investments ($)
|
|
Fidelity Clean Energy ETF
|
-
|
(12,134,158)
|
(5,740,836)
|
Fidelity Cloud Computing ETF
|
-
|
(7,424,126)
|
9,554,826
|
Fidelity Crypto Industry and Digital Payments ETF
|
988,904
|
(13,937,531)
|
36,834,826
|
Fidelity Digital Health ETF
|
90,030
|
(3,528,506)
|
575,930
|
Fidelity Electric Vehicles and Future Transportation ETF
|
23,133
|
(31,387,809)
|
412,245
|
Fidelity Metaverse ETF
|
67,439
|
(2,995,208)
|
4,998,532
|
Short-term ($)
|
Long-term ($)
|
Total capital loss carryforward ($)
|
|
Fidelity Clean Energy ETF
|
(2,280,041)
|
(9,854,117)
|
(12,134,158)
|
Fidelity Cloud Computing ETF
|
(2,943,152)
|
(4,480,974)
|
(7,424,126)
|
Fidelity Crypto Industry and Digital Payments ETF
|
(9,801,302)
|
(4,136,229)
|
(13,937,531)
|
Fidelity Digital Health ETF
|
(582,011)
|
(2,946,495)
|
(3,528,506)
|
Fidelity Electric Vehicles and Future Transportation ETF
|
(8,959,016)
|
(22,428,793)
|
(31,387,809)
|
Fidelity Metaverse ETF
|
(950,308)
|
(2,044,900)
|
(2,995,208)
|
Ordinary Losses($)
|
|
Fidelity Cloud Computing ETF
|
(7,133)
|
June 30, 2025
|
|
Ordinary Income ($)
|
|
Fidelity Clean Energy ETF
|
363,900
|
Fidelity Cloud Computing ETF
|
45,600
|
Fidelity Crypto Industry and Digital Payments ETF
|
1,957,600
|
Fidelity Digital Health ETF
|
130,000
|
Fidelity Electric Vehicles and Future Transportation ETF
|
169,000
|
Fidelity Metaverse ETF
|
321,750
|
June 30, 2024
|
|
Ordinary Income ($)
|
|
Fidelity Clean Energy ETF
|
378,500
|
Fidelity Cloud Computing ETF
|
106,250
|
Fidelity Crypto Industry and Digital Payments ETF
|
135,150
|
Fidelity Digital Health ETF
|
4,950
|
Fidelity Electric Vehicles and Future Transportation ETF
|
178,200
|
Fidelity Metaverse ETF
|
100,500
|
Equity Risk
|
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
Purchases ($)
|
Sales ($)
|
|
Fidelity Clean Energy ETF
|
12,417,846
|
11,691,362
|
Fidelity Cloud Computing ETF
|
43,450,861
|
25,912,490
|
Fidelity Crypto Industry and Digital Payments ETF
|
124,191,488
|
105,964,643
|
Fidelity Digital Health ETF
|
4,267,067
|
3,809,612
|
Fidelity Electric Vehicles and Future Transportation ETF
|
22,487,724
|
23,794,941
|
Fidelity Metaverse ETF
|
12,588,695
|
9,686,310
|
In-Kind Subscriptions ($)
|
In-Kind Redemptions ($)
|
|
Fidelity Clean Energy ETF
|
664,828
|
1,848,479
|
Fidelity Cloud Computing ETF
|
9,670,850
|
24,041,422
|
Fidelity Crypto Industry and Digital Payments ETF
|
84,615,246
|
29,871,420
|
Fidelity Digital Health ETF
|
-
|
972,902
|
Fidelity Electric Vehicles and Future Transportation ETF
|
-
|
6,000,775
|
Fidelity Metaverse ETF
|
8,245,926
|
7,363,060
|
Fee Rate
|
|
Fidelity Clean Energy ETF
|
.39%
|
Fidelity Cloud Computing ETF
|
.39%
|
Fidelity Crypto Industry and Digital Payments ETF
|
.39%
|
Fidelity Digital Health ETF
|
.39%
|
Fidelity Electric Vehicles and Future Transportation ETF
|
.39%
|
Fidelity Metaverse ETF
|
.39%
|
Total Security Lending Fees Paid to NFS ($)
|
Security Lending Income From Securities Loaned to NFS ($)
|
Value of Securities Loaned to NFS at Period End ($)
|
|
Fidelity Clean Energy ETF
|
3,850
|
-
|
-
|
Fidelity Cloud Computing ETF
|
203
|
4
|
-
|
Fidelity Crypto Industry and Digital Payments ETF
|
52,781
|
480
|
-
|
Fidelity Electric Vehicles and Future Transportation ETF
|
13,172
|
-
|
-
|
Fidelity Metaverse ETF
|
1,118
|
-
|
-
|
Custodian credits ($)
|
|
Fidelity Clean Energy ETF
|
216
|
Fidelity Cloud Computing ETF
|
1,173
|
Fidelity Crypto Industry and Digital Payments ETF
|
1,014
|
Fidelity Digital Health ETF
|
51
|
Fidelity Electric Vehicles and Future Transportation ETF
|
361
|
Fidelity Metaverse ETF
|
1,424
|
Fidelity Clean Energy ETF
|
||
September 2024
|
3%
|
|
December 2024
|
3%
|
|
March 2025
|
9%
|
|
June 2025
|
9%
|
|
Fidelity Cloud Computing ETF
|
||
September 2024
|
100%
|
|
December 2024
|
100%
|
|
March 2025
|
-
|
|
June 2025
|
100%
|
|
Fidelity Crypto Industry and Digital Payments ETF
|
||
September 2024
|
-
|
|
December 20, 2024
|
3%
|
|
December 30, 2024
|
4%
|
|
March 2025
|
-
|
|
June 2025
|
-
|
|
Fidelity Digital Health ETF
|
||
September 2024
|
8%
|
|
December 2024
|
8%
|
|
March 2025
|
57%
|
|
June 2025
|
57%
|
|
Fidelity Electric Vehicles and Future Transportation ETF
|
||
September 2024
|
100%
|
|
December 2024
|
100%
|
|
March 2025
|
25%
|
|
June 2025
|
25%
|
|
Fidelity Metaverse ETF
|
||
September 2024
|
57%
|
|
December 2024
|
57%
|
|
March 2025
|
16%
|
|
June 2025
|
16%
|
Fidelity Clean Energy ETF
|
||
September 2024
|
100%
|
|
December 2024
|
100%
|
|
March 2025
|
100%
|
|
June 2025
|
100%
|
|
Fidelity Cloud Computing ETF
|
||
September 2024
|
100%
|
|
December 2024
|
100%
|
|
March 2025
|
-
|
|
June 2025
|
100%
|
|
Fidelity Crypto Industry and Digital Payments ETF
|
||
September 2024
|
-
|
|
December 20, 2024
|
7.69%
|
|
December 30, 2024
|
15.19%
|
|
March 2025
|
-
|
|
June 2025
|
-
|
|
Fidelity Digital Health ETF
|
||
September 2024
|
12.24%
|
|
December 2024
|
12.19%
|
|
March 2025
|
100%
|
|
June 2025
|
100%
|
|
Fidelity Electric Vehicles and Future Transportation ETF
|
||
September 2024
|
100%
|
|
December 2024
|
100%
|
|
March 2025
|
100%
|
|
June 2025
|
100%
|
|
Fidelity Metaverse ETF
|
||
September 2024
|
90.05%
|
|
December 2024
|
90.05%
|
|
March 2025
|
100%
|
|
June 2025
|
100%
|
|
Fidelity Metaverse ETF
|
|
September 2024
|
9.96%
|
December 2024
|
9.96%
|
Fidelity Metaverse ETF
|
$898
|
Pay Date
|
Income
|
Taxes
|
|
Fidelity Clean Energy ETF
|
03/20/24
|
$0.0161
|
$0.0022
|
06/25/24
|
$0.1047
|
$0.0142
|
A special meeting of shareholders was held on July 16, 2024. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
|
||
Proposal 1
|
||
To elect a Board of Trustees.
|
||
# of
Votes
|
% of
Votes
|
|
Bettina Doulton
|
||
Affirmative
|
38,080,283,823.03
|
97.17
|
Withheld
|
1,109,333,237.47
|
2.83
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Robert A. Lawrence
|
||
Affirmative
|
37,781,807,251.33
|
96.41
|
Withheld
|
1,407,809,809.17
|
3.59
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vijay C. Advani
|
||
Affirmative
|
37,869,526,083.09
|
96.63
|
Withheld
|
1,320,090,977.41
|
3.37
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas P. Bostick
|
||
Affirmative
|
38,025,875,898.31
|
97.03
|
Withheld
|
1,163,741,162.19
|
2.97
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Donald F. Donahue
|
||
Affirmative
|
37,825,198,238.79
|
96.52
|
Withheld
|
1,364,418,821.71
|
3.48
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vicki L. Fuller
|
||
Affirmative
|
38,031,768,119.99
|
97.05
|
Withheld
|
1,157,848,940.51
|
2.95
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Patricia L. Kampling
|
||
Affirmative
|
38,062,391,881.90
|
97.12
|
Withheld
|
1,127,225,178.60
|
2.88
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas A. Kennedy
|
||
Affirmative
|
37,891,434,776.27
|
96.69
|
Withheld
|
1,298,182,284.23
|
3.31
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Oscar Munoz
|
||
Affirmative
|
37,976,932,673.73
|
96.91
|
Withheld
|
1,212,684,386.77
|
3.09
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Karen B. Peetz
|
||
Affirmative
|
38,011,822,212.28
|
96.99
|
Withheld
|
1,177,794,848.22
|
3.01
|
TOTAL
|
39,189,617,060.50
|
100.00
|
David M. Thomas
|
||
Affirmative
|
37,976,058,118.16
|
96.90
|
Withheld
|
1,213,558,942.34
|
3.10
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Susan Tomasky
|
||
Affirmative
|
37,845,471,684.67
|
96.57
|
Withheld
|
1,344,145,375.83
|
3.43
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Michael E. Wiley
|
||
Affirmative
|
37,736,569,620.69
|
96.29
|
Withheld
|
1,453,047,439.81
|
3.71
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Proposal 1 reflects trust-wide proposal and voting results.
|
![]() |
Contents
Common Stocks - 97.6%
|
|||
Shares
|
Value ($)
|
||
AUSTRALIA - 6.6%
|
|||
Communication Services - 0.6%
|
|||
Diversified Telecommunication Services - 0.6%
|
|||
Telstra Group Ltd
|
5,393,340
|
17,180,193
|
|
Interactive Media & Services - 0.0%
|
|||
CAR Group Ltd
|
10
|
246
|
|
REA Group Ltd
|
5,187
|
820,991
|
|
821,237
|
|||
TOTAL COMMUNICATION SERVICES
|
18,001,430
|
||
Consumer Discretionary - 1.3%
|
|||
Broadline Retail - 0.8%
|
|||
Wesfarmers Ltd
|
450,140
|
25,108,005
|
|
Hotels, Restaurants & Leisure - 0.5%
|
|||
Aristocrat Leisure Ltd
|
364,917
|
15,651,886
|
|
TOTAL CONSUMER DISCRETIONARY
|
40,759,891
|
||
Financials - 1.5%
|
|||
Banks - 1.0%
|
|||
ANZ Group Holdings Ltd
|
681,889
|
13,086,578
|
|
Commonwealth Bank of Australia
|
139,594
|
16,973,683
|
|
National Australia Bank Ltd
|
4
|
103
|
|
30,060,364
|
|||
Capital Markets - 0.1%
|
|||
Macquarie Group Ltd
|
28,959
|
4,359,449
|
|
Insurance - 0.4%
|
|||
Insurance Australia Group Ltd
|
318,569
|
1,893,286
|
|
Medibank Pvt Ltd
|
129
|
428
|
|
QBE Insurance Group Ltd
|
751,924
|
11,575,215
|
|
13,468,929
|
|||
TOTAL FINANCIALS
|
47,888,742
|
||
Health Care - 0.6%
|
|||
Health Care Equipment & Supplies - 0.0%
|
|||
Cochlear Ltd
|
30
|
5,932
|
|
Health Care Technology - 0.6%
|
|||
Pro Medicus Ltd
|
96,551
|
18,115,420
|
|
TOTAL HEALTH CARE
|
18,121,352
|
||
Industrials - 0.3%
|
|||
Commercial Services & Supplies - 0.2%
|
|||
Brambles Ltd
|
290,585
|
4,479,040
|
|
Professional Services - 0.0%
|
|||
Computershare Ltd
|
27,112
|
711,788
|
|
Trading Companies & Distributors - 0.1%
|
|||
Reece Ltd
|
113
|
1,067
|
|
SGH Ltd
|
124,476
|
4,429,624
|
|
4,430,691
|
|||
TOTAL INDUSTRIALS
|
9,621,519
|
||
Materials - 2.3%
|
|||
Metals & Mining - 2.3%
|
|||
BHP Group Ltd
|
523,023
|
12,650,364
|
|
Fortescue Ltd
|
1,083,780
|
10,899,068
|
|
Northern Star Resources Ltd
|
1,050,673
|
12,827,333
|
|
Rio Tinto Ltd
|
172,841
|
12,186,606
|
|
Rio Tinto PLC
|
159,387
|
9,287,320
|
|
Rio Tinto PLC ADR
|
293,973
|
17,147,445
|
|
South32 Ltd
|
52
|
100
|
|
74,998,236
|
|||
TOTAL AUSTRALIA
|
209,391,170
|
||
AUSTRIA - 0.0%
|
|||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
Erste Group Bank AG
|
90
|
7,665
|
|
BELGIUM - 1.0%
|
|||
Consumer Staples - 0.9%
|
|||
Beverages - 0.9%
|
|||
Anheuser-Busch InBev SA/NV
|
372,660
|
25,565,895
|
|
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
Groupe Bruxelles Lambert NV
|
7,821
|
666,082
|
|
Health Care - 0.1%
|
|||
Pharmaceuticals - 0.1%
|
|||
UCB SA
|
23,004
|
4,523,938
|
|
TOTAL BELGIUM
|
30,755,915
|
||
CHINA - 1.8%
|
|||
Consumer Discretionary - 0.9%
|
|||
Broadline Retail - 0.9%
|
|||
Prosus NV Class N
|
534,911
|
29,910,772
|
|
Financials - 0.4%
|
|||
Banks - 0.4%
|
|||
BOC Hong Kong Holdings Ltd
|
2,651,500
|
11,518,054
|
|
Industrials - 0.5%
|
|||
Machinery - 0.2%
|
|||
Yangzijiang Shipbuildling (Holdings) Ltd
|
4,397,600
|
7,678,075
|
|
Marine Transportation - 0.3%
|
|||
SITC International Holdings Co Ltd
|
2,575,000
|
8,249,893
|
|
TOTAL INDUSTRIALS
|
15,927,968
|
||
TOTAL CHINA
|
57,356,794
|
||
DENMARK - 1.8%
|
|||
Financials - 0.4%
|
|||
Banks - 0.4%
|
|||
Danske Bank A/S
|
313,692
|
12,792,839
|
|
Health Care - 1.2%
|
|||
Biotechnology - 0.4%
|
|||
Genmab A/S (b)
|
40,457
|
8,399,598
|
|
Genmab A/S ADR (b)
|
232,753
|
4,808,677
|
|
13,208,275
|
|||
Pharmaceuticals - 0.8%
|
|||
Novo Nordisk A/S Series B
|
339,074
|
23,533,757
|
|
TOTAL HEALTH CARE
|
36,742,032
|
||
Industrials - 0.0%
|
|||
Building Products - 0.0%
|
|||
ROCKWOOL A/S Series B
|
5,741
|
268,661
|
|
Marine Transportation - 0.0%
|
|||
AP Moller - Maersk A/S Series A
|
1,136
|
2,098,472
|
|
TOTAL INDUSTRIALS
|
2,367,133
|
||
Materials - 0.2%
|
|||
Chemicals - 0.2%
|
|||
Novonesis Novozymes B Series B
|
70,455
|
5,051,291
|
|
TOTAL DENMARK
|
56,953,295
|
||
FINLAND - 1.5%
|
|||
Financials - 0.3%
|
|||
Banks - 0.2%
|
|||
Nordea Bank Abp
|
418,901
|
6,222,335
|
|
Nordea Bank Abp (Sweden)
|
100
|
1,488
|
|
6,223,823
|
|||
Insurance - 0.1%
|
|||
Sampo Oyj A Shares
|
185,987
|
2,000,231
|
|
TOTAL FINANCIALS
|
8,224,054
|
||
Industrials - 1.2%
|
|||
Machinery - 1.2%
|
|||
Kone Oyj B Shares
|
304,881
|
20,068,440
|
|
Wartsila OYJ Abp
|
809,345
|
19,105,493
|
|
39,173,933
|
|||
Information Technology - 0.0%
|
|||
Communications Equipment - 0.0%
|
|||
Nokia Oyj
|
130,994
|
679,865
|
|
Nokia Oyj ADR
|
120
|
622
|
|
680,487
|
|||
TOTAL FINLAND
|
48,078,474
|
||
FRANCE - 8.5%
|
|||
Communication Services - 0.2%
|
|||
Diversified Telecommunication Services - 0.2%
|
|||
Orange SA
|
350,274
|
5,328,797
|
|
Consumer Discretionary - 0.9%
|
|||
Hotels, Restaurants & Leisure - 0.2%
|
|||
FDJ UNITED
|
109,051
|
4,277,606
|
|
Sodexo SA
|
17,797
|
1,094,319
|
|
5,371,925
|
|||
Textiles, Apparel & Luxury Goods - 0.7%
|
|||
Hermes International SCA
|
4,371
|
11,837,136
|
|
LVMH Moet Hennessy Louis Vuitton SE
|
21,299
|
11,154,639
|
|
22,991,775
|
|||
TOTAL CONSUMER DISCRETIONARY
|
28,363,700
|
||
Consumer Staples - 0.3%
|
|||
Food Products - 0.3%
|
|||
Danone SA
|
124,962
|
10,209,722
|
|
Personal Care Products - 0.0%
|
|||
L'Oreal SA
|
2,041
|
872,963
|
|
TOTAL CONSUMER STAPLES
|
11,082,685
|
||
Energy - 1.2%
|
|||
Oil, Gas & Consumable Fuels - 1.2%
|
|||
TotalEnergies SE
|
618,730
|
37,972,199
|
|
Financials - 1.6%
|
|||
Banks - 1.6%
|
|||
BNP Paribas SA
|
341,169
|
30,671,484
|
|
Credit Agricole SA
|
1,076
|
20,362
|
|
Societe Generale SA Series A
|
367,940
|
21,042,294
|
|
51,734,140
|
|||
Insurance - 0.0%
|
|||
AXA SA
|
8,828
|
433,324
|
|
TOTAL FINANCIALS
|
52,167,464
|
||
Industrials - 2.1%
|
|||
Aerospace & Defense - 0.4%
|
|||
Airbus SE
|
20,222
|
4,222,422
|
|
Safran SA
|
25,404
|
8,256,209
|
|
12,478,631
|
|||
Building Products - 0.2%
|
|||
Cie de Saint-Gobain SA
|
47,328
|
5,554,932
|
|
Construction & Engineering - 1.2%
|
|||
Eiffage SA
|
87,808
|
12,334,437
|
|
Vinci SA
|
170,528
|
25,129,270
|
|
37,463,707
|
|||
Electrical Equipment - 0.2%
|
|||
Legrand SA
|
50,732
|
6,782,733
|
|
Transportation Infrastructure - 0.1%
|
|||
Getlink SE Series A
|
119,632
|
2,309,687
|
|
TOTAL INDUSTRIALS
|
64,589,690
|
||
Information Technology - 0.2%
|
|||
IT Services - 0.2%
|
|||
Capgemini SE
|
44,699
|
7,637,345
|
|
Materials - 1.1%
|
|||
Chemicals - 1.1%
|
|||
Air Liquide SA
|
167,821
|
34,622,506
|
|
Real Estate - 0.2%
|
|||
Diversified REITs - 0.1%
|
|||
Covivio SA/France
|
59,047
|
3,724,639
|
|
Office REITs - 0.1%
|
|||
Gecina SA
|
14,634
|
1,608,317
|
|
Retail REITs - 0.0%
|
|||
Klepierre SA
|
32,309
|
1,272,672
|
|
TOTAL REAL ESTATE
|
6,605,628
|
||
Utilities - 0.7%
|
|||
Multi-Utilities - 0.7%
|
|||
Engie SA
|
994,269
|
23,336,143
|
|
Veolia Environnement SA
|
64
|
2,281
|
|
23,338,424
|
|||
TOTAL FRANCE
|
271,708,438
|
||
GERMANY - 9.9%
|
|||
Communication Services - 0.3%
|
|||
Diversified Telecommunication Services - 0.2%
|
|||
Deutsche Telekom AG
|
174,388
|
6,361,868
|
|
Interactive Media & Services - 0.1%
|
|||
Scout24 SE (c)(d)
|
34,155
|
4,711,271
|
|
TOTAL COMMUNICATION SERVICES
|
11,073,139
|
||
Consumer Discretionary - 0.9%
|
|||
Automobile Components - 0.1%
|
|||
Continental AG
|
49,273
|
4,300,848
|
|
Automobiles - 0.1%
|
|||
Mercedes-Benz Group AG
|
45,124
|
2,641,213
|
|
Volkswagen AG
|
4,200
|
453,676
|
|
3,094,889
|
|||
Specialty Retail - 0.0%
|
|||
Zalando SE (b)(c)(d)
|
44,947
|
1,479,821
|
|
Textiles, Apparel & Luxury Goods - 0.7%
|
|||
adidas AG
|
89,485
|
20,865,683
|
|
TOTAL CONSUMER DISCRETIONARY
|
29,741,241
|
||
Financials - 2.7%
|
|||
Capital Markets - 0.1%
|
|||
Deutsche Bank AG
|
122,457
|
3,630,728
|
|
Insurance - 2.6%
|
|||
Allianz SE
|
104,770
|
42,466,696
|
|
Hannover Rueck SE
|
21,085
|
6,636,467
|
|
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
|
31,140
|
20,196,758
|
|
Talanx AG
|
91,828
|
11,887,750
|
|
81,187,671
|
|||
TOTAL FINANCIALS
|
84,818,399
|
||
Health Care - 0.4%
|
|||
Health Care Equipment & Supplies - 0.2%
|
|||
Siemens Healthineers AG (c)(d)
|
102,288
|
5,670,266
|
|
Health Care Providers & Services - 0.2%
|
|||
Fresenius Medical Care AG
|
88,039
|
5,045,275
|
|
Pharmaceuticals - 0.0%
|
|||
Merck KGaA
|
8,336
|
1,080,133
|
|
TOTAL HEALTH CARE
|
11,795,674
|
||
Industrials - 3.1%
|
|||
Aerospace & Defense - 0.0%
|
|||
Rheinmetall AG
|
306
|
647,733
|
|
Air Freight & Logistics - 0.4%
|
|||
Deutsche Post AG
|
309,971
|
14,316,761
|
|
Electrical Equipment - 1.0%
|
|||
Siemens Energy AG (b)
|
278,433
|
32,161,734
|
|
Industrial Conglomerates - 1.5%
|
|||
Siemens AG
|
182,549
|
46,802,062
|
|
Machinery - 0.2%
|
|||
Gea Group Ag
|
15,927
|
1,114,415
|
|
Knorr-Bremse AG
|
22,375
|
2,162,562
|
|
Rational AG
|
2,819
|
2,364,296
|
|
5,641,273
|
|||
TOTAL INDUSTRIALS
|
99,569,563
|
||
Information Technology - 1.2%
|
|||
Software - 1.2%
|
|||
SAP SE
|
125,393
|
38,130,480
|
|
Materials - 0.9%
|
|||
Chemicals - 0.6%
|
|||
Evonik Industries AG
|
478,907
|
9,872,249
|
|
Symrise AG
|
90,493
|
9,501,988
|
|
19,374,237
|
|||
Construction Materials - 0.3%
|
|||
Heidelberg Materials AG
|
34,548
|
8,116,780
|
|
TOTAL MATERIALS
|
27,491,017
|
||
Utilities - 0.4%
|
|||
Independent Power and Renewable Electricity Producers - 0.4%
|
|||
RWE AG
|
320,465
|
13,374,533
|
|
TOTAL GERMANY
|
315,994,046
|
||
HONG KONG - 2.8%
|
|||
Consumer Staples - 0.5%
|
|||
Food Products - 0.5%
|
|||
WH Group Ltd (c)(d)
|
15,071,455
|
14,495,568
|
|
Financials - 1.6%
|
|||
Capital Markets - 0.9%
|
|||
Futu Holdings Ltd Class A ADR
|
36,240
|
4,478,902
|
|
Hong Kong Exchanges & Clearing Ltd
|
428,900
|
22,882,097
|
|
27,360,999
|
|||
Insurance - 0.7%
|
|||
AIA Group Ltd
|
2,768,232
|
24,826,086
|
|
TOTAL FINANCIALS
|
52,187,085
|
||
Industrials - 0.2%
|
|||
Industrial Conglomerates - 0.1%
|
|||
Jardine Matheson Holdings Ltd (Singapore)
|
57,000
|
2,739,420
|
|
Machinery - 0.1%
|
|||
Techtronic Industries Co Ltd
|
229,500
|
2,523,054
|
|
TOTAL INDUSTRIALS
|
5,262,474
|
||
Real Estate - 0.0%
|
|||
Real Estate Management & Development - 0.0%
|
|||
Sun Hung Kai Properties Ltd
|
137,500
|
1,577,319
|
|
Utilities - 0.5%
|
|||
Electric Utilities - 0.5%
|
|||
CLP Holdings Ltd
|
1,954,500
|
16,457,742
|
|
TOTAL HONG KONG
|
89,980,188
|
||
IRELAND - 0.1%
|
|||
Industrials - 0.1%
|
|||
Trading Companies & Distributors - 0.1%
|
|||
AerCap Holdings NV
|
27,144
|
3,175,848
|
|
ISRAEL - 0.8%
|
|||
Financials - 0.2%
|
|||
Banks - 0.2%
|
|||
Bank Leumi Le-Israel BM
|
208,242
|
3,871,423
|
|
Mizrahi Tefahot Bank Ltd
|
19,261
|
1,255,170
|
|
5,126,593
|
|||
Industrials - 0.0%
|
|||
Aerospace & Defense - 0.0%
|
|||
Elbit Systems Ltd
|
4,110
|
1,827,860
|
|
Information Technology - 0.6%
|
|||
IT Services - 0.6%
|
|||
Wix.com Ltd (b)
|
110,942
|
17,579,869
|
|
TOTAL ISRAEL
|
24,534,322
|
||
ITALY - 2.6%
|
|||
Consumer Discretionary - 0.1%
|
|||
Automobiles - 0.1%
|
|||
Ferrari NV (Italy)
|
4,067
|
1,993,420
|
|
Consumer Staples - 0.5%
|
|||
Beverages - 0.5%
|
|||
Coca-Cola HBC AG
|
318,116
|
16,610,620
|
|
Financials - 1.9%
|
|||
Banks - 1.8%
|
|||
Intesa Sanpaolo SpA
|
4,570,914
|
26,337,343
|
|
UniCredit SpA
|
431,235
|
28,908,759
|
|
55,246,102
|
|||
Financial Services - 0.0%
|
|||
Banca Mediolanum SpA
|
28,559
|
491,832
|
|
Insurance - 0.1%
|
|||
Generali
|
102,128
|
3,634,314
|
|
TOTAL FINANCIALS
|
59,372,248
|
||
Industrials - 0.1%
|
|||
Aerospace & Defense - 0.1%
|
|||
Leonardo SpA
|
81,019
|
4,559,948
|
|
Utilities - 0.0%
|
|||
Electric Utilities - 0.0%
|
|||
Enel SpA
|
169,702
|
1,610,397
|
|
TOTAL ITALY
|
84,146,633
|
||
JAPAN - 21.8%
|
|||
Communication Services - 2.2%
|
|||
Entertainment - 0.2%
|
|||
Konami Group Corp
|
45,600
|
7,224,499
|
|
Interactive Media & Services - 0.3%
|
|||
LY Corp
|
2,637,922
|
9,716,009
|
|
Wireless Telecommunication Services - 1.7%
|
|||
KDDI Corp
|
1,276,200
|
21,978,237
|
|
SoftBank Group Corp
|
428,200
|
31,266,435
|
|
53,244,672
|
|||
TOTAL COMMUNICATION SERVICES
|
70,185,180
|
||
Consumer Discretionary - 3.1%
|
|||
Automobile Components - 0.1%
|
|||
Aisin Corp
|
184,200
|
2,362,538
|
|
Automobiles - 0.9%
|
|||
Suzuki Motor Corp
|
1,373,300
|
16,622,075
|
|
Toyota Motor Corp
|
706,061
|
12,223,257
|
|
28,845,332
|
|||
Household Durables - 1.1%
|
|||
Panasonic Holdings Corp
|
1,136,700
|
12,278,302
|
|
Sekisui House Ltd
|
35,300
|
780,250
|
|
Sony Group Corp
|
900,980
|
23,337,074
|
|
36,395,626
|
|||
Leisure Products - 0.5%
|
|||
Bandai Namco Holdings Inc
|
425,800
|
15,289,829
|
|
Textiles, Apparel & Luxury Goods - 0.5%
|
|||
Asics Corp
|
646,500
|
16,521,093
|
|
TOTAL CONSUMER DISCRETIONARY
|
99,414,418
|
||
Consumer Staples - 0.3%
|
|||
Consumer Staples Distribution & Retail - 0.0%
|
|||
Seven & i Holdings Co Ltd
|
132,200
|
2,132,569
|
|
Food Products - 0.3%
|
|||
Ajinomoto Co Inc
|
329,200
|
8,936,098
|
|
TOTAL CONSUMER STAPLES
|
11,068,667
|
||
Energy - 0.5%
|
|||
Oil, Gas & Consumable Fuels - 0.5%
|
|||
Inpex Corp (e)
|
1,116,500
|
15,700,236
|
|
Financials - 4.3%
|
|||
Banks - 1.9%
|
|||
Japan Post Bank Co Ltd
|
559,600
|
6,042,693
|
|
Mitsubishi UFJ Financial Group Inc
|
1,956,100
|
26,936,192
|
|
Mizuho Financial Group Inc
|
422,100
|
11,704,075
|
|
Sumitomo Mitsui Financial Group Inc
|
447,000
|
11,280,150
|
|
Sumitomo Mitsui Trust Group Inc
|
209,800
|
5,593,015
|
|
61,556,125
|
|||
Capital Markets - 0.9%
|
|||
Daiwa Securities Group Inc
|
1,600,548
|
11,386,837
|
|
Nomura Holdings Inc
|
2,497,700
|
16,511,999
|
|
SBI Holdings Inc
|
36,200
|
1,264,442
|
|
29,163,278
|
|||
Financial Services - 0.1%
|
|||
Mitsubishi HC Capital Inc
|
263,800
|
1,942,710
|
|
Insurance - 1.4%
|
|||
Dai-ichi Life Holdings Inc
|
2,336,900
|
17,785,788
|
|
Japan Post Holdings Co Ltd
|
135,800
|
1,259,407
|
|
Sompo Holdings Inc
|
239,100
|
7,214,260
|
|
Tokio Marine Holdings Inc
|
401,400
|
17,033,821
|
|
43,293,276
|
|||
TOTAL FINANCIALS
|
135,955,389
|
||
Health Care - 1.7%
|
|||
Health Care Equipment & Supplies - 0.2%
|
|||
Hoya Corp
|
19,184
|
2,285,348
|
|
Terumo Corp
|
283,400
|
5,215,166
|
|
7,500,514
|
|||
Pharmaceuticals - 1.5%
|
|||
Astellas Pharma Inc
|
280,900
|
2,763,063
|
|
Daiichi Sankyo Co Ltd
|
730,300
|
17,065,098
|
|
Shionogi & Co Ltd
|
129,800
|
2,338,122
|
|
Takeda Pharmaceutical Co Ltd
|
771,500
|
23,706,729
|
|
45,873,012
|
|||
TOTAL HEALTH CARE
|
53,373,526
|
||
Industrials - 5.5%
|
|||
Electrical Equipment - 0.2%
|
|||
Mitsubishi Electric Corp
|
157,800
|
3,409,019
|
|
NIDEC CORP
|
112,200
|
2,185,487
|
|
5,594,506
|
|||
Ground Transportation - 0.4%
|
|||
Central Japan Railway Co
|
595,500
|
13,365,203
|
|
Industrial Conglomerates - 0.5%
|
|||
Hitachi Ltd
|
523,700
|
15,292,236
|
|
Machinery - 1.4%
|
|||
Daifuku Co Ltd
|
99,500
|
2,571,709
|
|
FANUC Corp
|
358,900
|
9,819,562
|
|
Komatsu Ltd
|
598,400
|
19,684,184
|
|
Makita Corp
|
427,300
|
13,213,200
|
|
45,288,655
|
|||
Marine Transportation - 0.6%
|
|||
Nippon Yusen KK
|
506,900
|
18,261,846
|
|
Professional Services - 0.9%
|
|||
Recruit Holdings Co Ltd
|
461,500
|
27,352,540
|
|
Trading Companies & Distributors - 1.5%
|
|||
Marubeni Corp
|
53,400
|
1,080,200
|
|
Mitsui & Co Ltd
|
919,200
|
18,811,030
|
|
Sumitomo Corp
|
528,600
|
13,688,062
|
|
Toyota Tsusho Corp
|
665,200
|
15,100,440
|
|
48,679,732
|
|||
TOTAL INDUSTRIALS
|
173,834,718
|
||
Information Technology - 3.7%
|
|||
Electronic Equipment, Instruments & Components - 0.4%
|
|||
Yokogawa Electric Corp
|
429,800
|
11,505,705
|
|
IT Services - 1.0%
|
|||
Fujitsu Ltd
|
249,800
|
6,097,337
|
|
NEC Corp
|
708,500
|
20,757,345
|
|
Obic Co Ltd
|
159,800
|
6,226,435
|
|
33,081,117
|
|||
Semiconductors & Semiconductor Equipment - 2.3%
|
|||
Advantest Corp
|
286,300
|
21,183,476
|
|
Renesas Electronics Corp
|
627,200
|
7,791,818
|
|
SCREEN Holdings Co Ltd
|
158,600
|
12,951,884
|
|
Tokyo Electron Ltd
|
156,200
|
30,024,069
|
|
71,951,247
|
|||
TOTAL INFORMATION TECHNOLOGY
|
116,538,069
|
||
Materials - 0.2%
|
|||
Chemicals - 0.1%
|
|||
Mitsubishi Chemical Group Corp
|
559,000
|
2,942,412
|
|
Nippon Paint Holdings Co Ltd
|
116,900
|
941,661
|
|
3,884,073
|
|||
Metals & Mining - 0.1%
|
|||
Nippon Steel Corp
|
194,400
|
3,689,422
|
|
TOTAL MATERIALS
|
7,573,495
|
||
Utilities - 0.3%
|
|||
Electric Utilities - 0.0%
|
|||
Chubu Electric Power Co Inc
|
96,200
|
1,189,766
|
|
Kansai Electric Power Co Inc/The
|
500
|
5,933
|
|
1,195,699
|
|||
Gas Utilities - 0.3%
|
|||
Osaka Gas Co Ltd
|
37,300
|
956,556
|
|
Tokyo Gas Co Ltd
|
257,300
|
8,562,076
|
|
9,518,632
|
|||
TOTAL UTILITIES
|
10,714,331
|
||
TOTAL JAPAN
|
694,358,029
|
||
KOREA (SOUTH) - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
Delivery Hero SE (b)(c)(d)
|
34,770
|
940,790
|
|
NETHERLANDS - 4.2%
|
|||
Communication Services - 0.5%
|
|||
Diversified Telecommunication Services - 0.5%
|
|||
Koninklijke KPN NV
|
3,356,406
|
16,352,414
|
|
Consumer Staples - 0.1%
|
|||
Beverages - 0.1%
|
|||
Heineken Holding NV Class A
|
17,995
|
1,340,724
|
|
Food Products - 0.0%
|
|||
JDE Peet's NV
|
45,004
|
1,285,022
|
|
TOTAL CONSUMER STAPLES
|
2,625,746
|
||
Financials - 1.4%
|
|||
Banks - 0.8%
|
|||
ABN AMRO Bank NV depository receipt (c)(d)
|
508,028
|
13,907,550
|
|
ING Groep NV
|
470,906
|
10,331,911
|
|
24,239,461
|
|||
Capital Markets - 0.0%
|
|||
Euronext NV (c)(d)
|
5
|
855
|
|
Insurance - 0.6%
|
|||
Aegon Ltd
|
232,984
|
1,687,279
|
|
NN Group NV
|
305,961
|
20,334,149
|
|
22,021,428
|
|||
TOTAL FINANCIALS
|
46,261,744
|
||
Health Care - 0.1%
|
|||
Biotechnology - 0.1%
|
|||
Argenx SE ADR (b)
|
2,483
|
1,368,679
|
|
Health Care Equipment & Supplies - 0.0%
|
|||
Koninklijke Philips NV
|
28,412
|
683,080
|
|
TOTAL HEALTH CARE
|
2,051,759
|
||
Industrials - 0.0%
|
|||
Professional Services - 0.0%
|
|||
Wolters Kluwer NV
|
30
|
5,016
|
|
Information Technology - 2.1%
|
|||
Semiconductors & Semiconductor Equipment - 2.1%
|
|||
ASM International NV
|
25
|
16,002
|
|
ASML Holding NV
|
84,280
|
67,270,520
|
|
67,286,522
|
|||
TOTAL NETHERLANDS
|
134,583,201
|
||
NEW ZEALAND - 0.1%
|
|||
Utilities - 0.1%
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
Meridian Energy Ltd
|
980,619
|
3,526,644
|
|
NORWAY - 1.3%
|
|||
Communication Services - 0.0%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
Telenor ASA
|
96
|
1,492
|
|
Energy - 0.5%
|
|||
Oil, Gas & Consumable Fuels - 0.5%
|
|||
Equinor ASA
|
592,983
|
15,007,834
|
|
Financials - 0.4%
|
|||
Banks - 0.2%
|
|||
DNB Bank ASA
|
229,430
|
6,341,568
|
|
Insurance - 0.2%
|
|||
Gjensidige Forsikring ASA
|
272,734
|
6,910,755
|
|
TOTAL FINANCIALS
|
13,252,323
|
||
Industrials - 0.4%
|
|||
Aerospace & Defense - 0.4%
|
|||
Kongsberg Gruppen ASA
|
354,257
|
13,737,063
|
|
TOTAL NORWAY
|
41,998,712
|
||
PORTUGAL - 0.0%
|
|||
Utilities - 0.0%
|
|||
Electric Utilities - 0.0%
|
|||
EDP SA
|
7
|
30
|
|
SINGAPORE - 2.3%
|
|||
Communication Services - 0.8%
|
|||
Entertainment - 0.8%
|
|||
Sea Ltd Class A ADR (b)
|
161,946
|
25,901,643
|
|
Financials - 1.0%
|
|||
Banks - 0.8%
|
|||
DBS Group Holdings Ltd
|
229,400
|
8,102,520
|
|
Oversea-Chinese Banking Corp Ltd
|
227,200
|
2,914,378
|
|
United Overseas Bank Ltd
|
505,155
|
14,302,462
|
|
25,319,360
|
|||
Capital Markets - 0.2%
|
|||
Singapore Exchange Ltd
|
532,200
|
6,228,184
|
|
TOTAL FINANCIALS
|
31,547,544
|
||
Industrials - 0.5%
|
|||
Aerospace & Defense - 0.5%
|
|||
Singapore Technologies Engineering Ltd
|
2,739,700
|
16,785,107
|
|
Real Estate - 0.0%
|
|||
Industrial REITs - 0.0%
|
|||
CapitaLand Ascendas REIT
|
228,200
|
480,987
|
|
TOTAL SINGAPORE
|
74,715,281
|
||
SOUTH AFRICA - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
Anglo American PLC
|
29,380
|
867,062
|
|
Valterra Platinum Ltd (United Kingdom)
|
15
|
659
|
|
TOTAL SOUTH AFRICA
|
867,721
|
||
SPAIN - 3.6%
|
|||
Financials - 1.3%
|
|||
Banks - 1.3%
|
|||
Banco Bilbao Vizcaya Argentaria SA
|
358,333
|
5,510,494
|
|
Banco Bilbao Vizcaya Argentaria SA ADR
|
8
|
123
|
|
Banco Santander SA
|
4,502,320
|
37,267,750
|
|
42,778,367
|
|||
Industrials - 0.6%
|
|||
Construction & Engineering - 0.0%
|
|||
ACS Actividades de Construccion y Servicios SA
|
26,410
|
1,833,914
|
|
Transportation Infrastructure - 0.6%
|
|||
Aena SME SA (c)(d)(e)
|
698,085
|
18,633,527
|
|
TOTAL INDUSTRIALS
|
20,467,441
|
||
Utilities - 1.7%
|
|||
Electric Utilities - 1.7%
|
|||
Endesa SA (e)
|
503,294
|
15,941,875
|
|
Iberdrola SA
|
1,852,038
|
35,538,397
|
|
51,480,272
|
|||
TOTAL SPAIN
|
114,726,080
|
||
SWEDEN - 2.3%
|
|||
Communication Services - 0.2%
|
|||
Diversified Telecommunication Services - 0.2%
|
|||
Telia Co AB
|
1,204,289
|
4,324,081
|
|
Wireless Telecommunication Services - 0.0%
|
|||
Tele2 AB B Shares
|
90,667
|
1,324,896
|
|
TOTAL COMMUNICATION SERVICES
|
5,648,977
|
||
Consumer Discretionary - 0.3%
|
|||
Automobiles - 0.3%
|
|||
Volvo Car AB (b)(e)
|
4,349,744
|
7,986,032
|
|
Financials - 0.7%
|
|||
Banks - 0.6%
|
|||
Svenska Handelsbanken AB A Shares
|
1,229,209
|
16,429,038
|
|
Swedbank AB A1 Shares
|
110,020
|
2,913,043
|
|
19,342,081
|
|||
Financial Services - 0.1%
|
|||
Industrivarden AB A Shares
|
113,091
|
4,102,447
|
|
Industrivarden AB C Shares
|
19
|
686
|
|
4,103,133
|
|||
TOTAL FINANCIALS
|
23,445,214
|
||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Swedish Orphan Biovitrum AB B Shares (b)
|
40,118
|
1,222,083
|
|
Industrials - 0.5%
|
|||
Construction & Engineering - 0.1%
|
|||
Skanska AB B Shares
|
125,404
|
2,918,745
|
|
Machinery - 0.4%
|
|||
Alfa Laval AB
|
61,246
|
2,575,195
|
|
Volvo AB B Shares
|
340,390
|
9,548,722
|
|
12,123,917
|
|||
TOTAL INDUSTRIALS
|
15,042,662
|
||
Information Technology - 0.6%
|
|||
Communications Equipment - 0.6%
|
|||
Telefonaktiebolaget LM Ericsson B Shares
|
2,009,644
|
17,192,929
|
|
Telefonaktiebolaget LM Ericsson Class B ADR
|
227,620
|
1,930,218
|
|
19,123,147
|
|||
TOTAL SWEDEN
|
72,468,115
|
||
SWITZERLAND - 4.6%
|
|||
Consumer Discretionary - 0.0%
|
|||
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
Cie Financiere Richemont SA Series A
|
5,717
|
1,076,824
|
|
Consumer Staples - 0.1%
|
|||
Food Products - 0.1%
|
|||
Chocoladefabriken Lindt & Spruengli AG
|
235
|
3,953,935
|
|
Financials - 1.9%
|
|||
Capital Markets - 0.9%
|
|||
UBS Group AG
|
844,788
|
28,587,255
|
|
Insurance - 1.0%
|
|||
Zurich Insurance Group AG
|
43,517
|
30,417,202
|
|
TOTAL FINANCIALS
|
59,004,457
|
||
Industrials - 1.8%
|
|||
Electrical Equipment - 1.0%
|
|||
ABB Ltd
|
541,152
|
32,266,559
|
|
Machinery - 0.2%
|
|||
Schindler Holding AG
|
22,085
|
8,211,071
|
|
Professional Services - 0.6%
|
|||
SGS SA
|
175,190
|
17,774,019
|
|
TOTAL INDUSTRIALS
|
58,251,649
|
||
Materials - 0.7%
|
|||
Chemicals - 0.7%
|
|||
Givaudan SA
|
4,566
|
22,103,480
|
|
Utilities - 0.1%
|
|||
Electric Utilities - 0.1%
|
|||
BKW AG
|
7,662
|
1,673,482
|
|
TOTAL SWITZERLAND
|
146,063,827
|
||
UNITED KINGDOM - 10.7%
|
|||
Communication Services - 0.0%
|
|||
Wireless Telecommunication Services - 0.0%
|
|||
Vodafone Group PLC
|
1,695,678
|
1,810,386
|
|
Vodafone Group PLC ADR
|
12
|
127
|
|
1,810,513
|
|||
Consumer Discretionary - 0.1%
|
|||
Hotels, Restaurants & Leisure - 0.1%
|
|||
Compass Group PLC
|
225,301
|
7,629,430
|
|
Specialty Retail - 0.0%
|
|||
Kingfisher PLC
|
4
|
16
|
|
TOTAL CONSUMER DISCRETIONARY
|
7,629,446
|
||
Consumer Staples - 2.7%
|
|||
Beverages - 0.1%
|
|||
Coca-Cola Europacific Partners PLC
|
29,372
|
2,723,372
|
|
Consumer Staples Distribution & Retail - 0.7%
|
|||
Tesco PLC
|
4,143,469
|
22,824,069
|
|
Food Products - 0.0%
|
|||
Associated British Foods PLC
|
4,847
|
136,923
|
|
Household Products - 0.0%
|
|||
Reckitt Benckiser Group PLC
|
175
|
11,902
|
|
Personal Care Products - 0.4%
|
|||
Unilever PLC
|
226,755
|
13,773,045
|
|
Tobacco - 1.5%
|
|||
British American Tobacco PLC
|
153,581
|
7,300,453
|
|
British American Tobacco PLC ADR (e)
|
516,423
|
24,442,301
|
|
Imperial Brands PLC
|
360,948
|
14,254,248
|
|
45,997,002
|
|||
TOTAL CONSUMER STAPLES
|
85,466,313
|
||
Financials - 3.4%
|
|||
Banks - 2.9%
|
|||
Barclays PLC ADR
|
229,601
|
4,268,282
|
|
HSBC Holdings PLC
|
2,964,650
|
35,884,206
|
|
HSBC Holdings PLC ADR (e)
|
239,570
|
14,563,460
|
|
Lloyds Banking Group PLC
|
14,152,482
|
14,900,052
|
|
NatWest Group PLC
|
1,379,469
|
9,683,503
|
|
NatWest Group PLC ADR
|
277,061
|
3,920,413
|
|
Standard Chartered PLC
|
489,737
|
8,113,907
|
|
91,333,823
|
|||
Capital Markets - 0.3%
|
|||
3i Group PLC
|
77,359
|
4,374,897
|
|
London Stock Exchange Group PLC
|
30,781
|
4,493,452
|
|
8,868,349
|
|||
Financial Services - 0.0%
|
|||
M&G PLC
|
827,082
|
2,917,706
|
|
Insurance - 0.2%
|
|||
Admiral Group PLC
|
109,581
|
4,918,615
|
|
Aviva PLC
|
376
|
3,196
|
|
4,921,811
|
|||
TOTAL FINANCIALS
|
108,041,689
|
||
Health Care - 1.6%
|
|||
Pharmaceuticals - 1.6%
|
|||
Astrazeneca PLC
|
222,592
|
30,920,740
|
|
Astrazeneca PLC ADR
|
277,763
|
19,410,078
|
|
50,330,818
|
|||
Industrials - 2.3%
|
|||
Aerospace & Defense - 1.9%
|
|||
BAE Systems PLC
|
920,390
|
23,833,538
|
|
Rolls-Royce Holdings PLC
|
2,711,286
|
36,010,654
|
|
59,844,192
|
|||
Industrial Conglomerates - 0.2%
|
|||
DCC PLC
|
15,555
|
1,009,502
|
|
Smiths Group PLC
|
133,273
|
4,108,769
|
|
5,118,271
|
|||
Professional Services - 0.0%
|
|||
RELX PLC ADR
|
16,590
|
901,501
|
|
Trading Companies & Distributors - 0.2%
|
|||
Bunzl PLC
|
197,089
|
6,276,394
|
|
TOTAL INDUSTRIALS
|
72,140,358
|
||
Information Technology - 0.3%
|
|||
Electronic Equipment, Instruments & Components - 0.0%
|
|||
Halma PLC
|
25,980
|
1,141,166
|
|
Software - 0.3%
|
|||
Sage Group PLC/The
|
445,106
|
7,640,240
|
|
TOTAL INFORMATION TECHNOLOGY
|
8,781,406
|
||
Utilities - 0.3%
|
|||
Multi-Utilities - 0.3%
|
|||
National Grid PLC
|
554,874
|
8,084,891
|
|
TOTAL UNITED KINGDOM
|
342,285,434
|
||
UNITED STATES - 9.3%
|
|||
Communication Services - 0.5%
|
|||
Entertainment - 0.5%
|
|||
Spotify Technology SA (b)
|
22,644
|
17,375,646
|
|
Consumer Staples - 0.9%
|
|||
Food Products - 0.9%
|
|||
Nestle SA
|
290,622
|
28,873,568
|
|
Energy - 1.2%
|
|||
Oil, Gas & Consumable Fuels - 1.2%
|
|||
BP PLC ADR
|
246,822
|
7,387,382
|
|
Shell PLC
|
900,248
|
31,554,249
|
|
38,941,631
|
|||
Health Care - 4.8%
|
|||
Life Sciences Tools & Services - 0.5%
|
|||
QIAGEN NV
|
364,566
|
17,557,676
|
|
Pharmaceuticals - 4.3%
|
|||
GSK PLC
|
577,556
|
11,019,673
|
|
GSK PLC ADR
|
370,932
|
14,243,789
|
|
Novartis AG
|
457,100
|
55,402,744
|
|
Novartis AG ADR
|
7,277
|
880,589
|
|
Roche Holding AG
|
134,927
|
43,941,190
|
|
Roche Holding AG
|
9,885
|
3,426,019
|
|
Sanofi SA
|
53,302
|
5,161,727
|
|
134,075,731
|
|||
TOTAL HEALTH CARE
|
151,633,407
|
||
Industrials - 0.9%
|
|||
Electrical Equipment - 0.9%
|
|||
Schneider Electric SE
|
110,542
|
29,402,084
|
|
Materials - 1.0%
|
|||
Construction Materials - 1.0%
|
|||
Amrize Ltd
|
137,395
|
6,853,733
|
|
CRH PLC (United Kingdom)
|
151,897
|
13,994,615
|
|
Holcim AG
|
137,395
|
10,199,213
|
|
31,047,561
|
|||
TOTAL UNITED STATES
|
297,273,897
|
||
TOTAL COMMON STOCKS
(Cost $2,618,948,191)
|
3,115,890,549
|
||
Non-Convertible Preferred Stocks - 0.6%
|
|||
Shares
|
Value ($)
|
||
GERMANY - 0.6%
|
|||
Consumer Discretionary - 0.6%
|
|||
Automobiles - 0.6%
|
|||
Volkswagen AG
|
175,722
|
18,550,599
|
|
Consumer Staples - 0.0%
|
|||
Household Products - 0.0%
|
|||
Henkel AG & Co KGaA
|
6,325
|
496,652
|
|
TOTAL GERMANY
|
19,047,251
|
||
TOTAL NON-CONVERTIBLE PREFERRED STOCKS
(Cost $21,065,611)
|
19,047,251
|
||
U.S. Treasury Obligations - 0.2%
|
||||
Yield (%) (f)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 8/28/2025 (g)
|
4.27
|
3,200,000
|
3,177,702
|
|
US Treasury Bills 0% 8/7/2025
|
4.25
|
3,290,000
|
3,275,627
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $6,453,976)
|
6,453,329
|
|||
Money Market Funds - 2.5%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (h)
|
4.32
|
38,507,624
|
38,515,325
|
|
Fidelity Securities Lending Cash Central Fund (h)(i)
|
4.32
|
40,839,501
|
40,843,586
|
|
TOTAL MONEY MARKET FUNDS
(Cost $79,358,911)
|
79,358,911
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.9%
(Cost $2,725,826,689)
|
3,220,750,040
|
NET OTHER ASSETS (LIABILITIES) - (0.9)%
|
(28,261,092)
|
NET ASSETS - 100.0%
|
3,192,488,948
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
ICE MSCI EAFE Index Contracts (United States)
|
300
|
Sep 2025
|
40,225,500
|
867,485
|
867,485
|
The notional amount of futures purchased as a percentage of Net Assets is 1.3%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing
|
(c)
|
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 $59,839,648 or 1.9% of net assets.
|
(d)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $59,839,648 or 1.9% of net assets.
|
(e)
|
Security or a portion of the security is on loan at period end.
|
(f)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(g)
|
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 $1,182,701.
|
(h)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(i)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
15,818,673
|
921,536,229
|
898,839,577
|
1,507,915
|
-
|
-
|
38,515,325
|
38,507,624
|
0.1%
|
Fidelity Securities Lending Cash Central Fund
|
10,015,523
|
355,680,952
|
324,852,889
|
316,123
|
-
|
-
|
40,843,586
|
40,839,501
|
0.1%
|
Total
|
25,834,196
|
1,277,217,181
|
1,223,692,466
|
1,824,038
|
-
|
-
|
79,358,911
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
171,679,231
|
171,679,231
|
-
|
-
|
Consumer Discretionary
|
247,816,534
|
247,816,534
|
-
|
-
|
Consumer Staples
|
199,742,997
|
199,742,997
|
-
|
-
|
Energy
|
107,621,900
|
107,621,900
|
-
|
-
|
Financials
|
795,055,952
|
795,055,952
|
-
|
-
|
Health Care
|
329,794,589
|
329,794,589
|
-
|
-
|
Industrials
|
645,742,034
|
645,742,034
|
-
|
-
|
Information Technology
|
275,757,325
|
275,757,325
|
-
|
-
|
Materials
|
203,755,307
|
203,755,307
|
-
|
-
|
Real Estate
|
8,663,934
|
8,663,934
|
-
|
-
|
Utilities
|
130,260,746
|
130,260,746
|
-
|
-
|
Non-Convertible Preferred Stocks
|
||||
Consumer Discretionary
|
18,550,599
|
18,550,599
|
-
|
-
|
Consumer Staples
|
496,652
|
496,652
|
-
|
-
|
U.S. Treasury Obligations
|
6,453,329
|
-
|
6,453,329
|
-
|
Money Market Funds
|
79,358,911
|
79,358,911
|
-
|
-
|
Total Investments in Securities:
|
3,220,750,040
|
3,214,296,711
|
6,453,329
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
867,485
|
867,485
|
-
|
-
|
Total Assets
|
867,485
|
867,485
|
-
|
-
|
Total Derivative Instruments:
|
867,485
|
867,485
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
867,485
|
0
|
Total Equity Risk
|
867,485
|
0
|
Total Value of Derivatives
|
867,485
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $38,892,255) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $2,646,467,778)
|
$
|
3,141,391,129
|
||
Fidelity Central Funds (cost $79,358,911)
|
79,358,911
|
|||
Total Investment in Securities (cost $2,725,826,689)
|
$
|
3,220,750,040
|
||
Cash
|
1
|
|||
Foreign currency held at value (cost $1,689,794)
|
1,707,965
|
|||
Dividends receivable
|
3,818,581
|
|||
Reclaims receivable
|
7,506,260
|
|||
Interest receivable
|
1,246
|
|||
Distributions receivable from Fidelity Central Funds
|
234,220
|
|||
Receivable for daily variation margin on futures contracts
|
14,665
|
|||
Total assets
|
3,234,032,978
|
|||
Liabilities
|
||||
Accrued management fee
|
$
|
692,124
|
||
Other payables and accrued expenses
|
8,234
|
|||
Collateral on securities loaned
|
40,843,672
|
|||
Total liabilities
|
41,544,030
|
|||
Net Assets
|
$
|
3,192,488,948
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
2,798,973,305
|
||
Total accumulated earnings (loss)
|
393,515,643
|
|||
Net Assets
|
$
|
3,192,488,948
|
||
Net Asset Value, offering price and redemption price per share ($3,192,488,948 ÷ 96,179,106 shares)
|
$
|
33.19
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
67,581,989
|
||
Interest
|
107,923
|
|||
Income from Fidelity Central Funds (including $316,123 from security lending)
|
1,824,038
|
|||
Income before foreign taxes withheld
|
$
|
69,513,950
|
||
Less foreign taxes withheld
|
(3,222,928)
|
|||
Total income
|
66,291,022
|
|||
Expenses
|
||||
Management fee
|
$
|
5,558,713
|
||
Independent trustees' fees and expenses
|
7,384
|
|||
Interest
|
1,543
|
|||
Miscellaneous
|
-
|
|||
Total expenses before reductions
|
5,567,640
|
|||
Expense reductions
|
(429)
|
|||
Total expenses after reductions
|
5,567,211
|
|||
Net Investment income (loss)
|
60,723,811
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
31,643,872
|
|||
Redemptions in-kind
|
132,522,540
|
|||
Fidelity Central Funds
|
-
|
|||
Foreign currency transactions
|
(333,910)
|
|||
Futures contracts
|
(1,006,363)
|
|||
Total net realized gain (loss)
|
162,826,139
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
221,623,553
|
|||
Assets and liabilities in foreign currencies
|
766,954
|
|||
Futures contracts
|
790,066
|
|||
Total change in net unrealized appreciation (depreciation)
|
223,180,573
|
|||
Net gain (loss)
|
386,006,712
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
446,730,523
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Ten months ended
June 30, 2024
|
Year ended
August 31, 2023
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
60,723,811
|
$
|
34,933,456
|
$
|
40,722,351
|
Net realized gain (loss)
|
162,826,139
|
99,267,722
|
(32,079,780)
|
|||
Change in net unrealized appreciation (depreciation)
|
223,180,573
|
58,817,853
|
261,209,693
|
|||
Net increase (decrease) in net assets resulting from operations
|
446,730,523
|
193,019,031
|
269,852,264
|
|||
Distributions to shareholders
|
(66,312,030)
|
(71,077,009)
|
(33,763,256)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
1,753,603,267
|
229,678,767
|
600,539,896
|
|||
Reinvestment of distributions
|
-
|
30,814,353
|
24,033,209
|
|||
Cost of shares redeemed
|
(499,384,133)
|
(389,696,365)
|
(600,353,896)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
1,254,219,134
|
(129,203,245)
|
24,219,209
|
|||
Total increase (decrease) in net assets
|
1,634,637,627
|
(7,261,223)
|
260,308,217
|
|||
Net Assets
|
||||||
Beginning of period
|
1,557,851,321
|
1,565,112,544
|
1,304,804,327
|
|||
End of period
|
$
|
3,192,488,948
|
$
|
1,557,851,321
|
$
|
1,565,112,544
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
57,400,000
|
8,475,592
|
26,342,964
|
|||
Issued in reinvestment of distributions
|
-
|
1,276,109
|
1,026,385
|
|||
Redeemed
|
(16,300,000)
|
(15,496,865)
|
(25,639,395)
|
|||
Net increase (decrease)
|
41,100,000
|
(5,745,164)
|
1,729,954
|
|||
Fidelity® Enhanced International ETF |
Years ended June 30,
|
2025
|
2024 A
|
2023 B,C
|
2022 B,C
|
2021 B,C
|
2020 B,C
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
28.28
|
$
|
25.73
|
$
|
22.08
|
$
|
28.49
|
$
|
22.68
|
$
|
22.13
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) D,E
|
.91
|
.65
|
.64
|
.76
|
.62
|
.47
|
||||||
Net realized and unrealized gain (loss)
|
4.88
|
3.19
|
3.58
|
(6.43)
|
5.61
|
.79
|
||||||
Total from investment operations
|
5.79
|
3.84
|
4.22
|
(5.67)
|
6.23
|
1.26
|
||||||
Distributions from net investment income
|
(.88)
|
(1.29)
|
(.57)
|
(.74)
|
(.42)
|
(.71)
|
||||||
Total distributions
|
(.88)
|
(1.29)
|
(.57)
|
(.74)
|
(.42)
|
(.71)
|
||||||
Net asset value, end of period
|
$
|
33.19
|
$
|
28.28
|
$
|
25.73
|
$
|
22.08
|
$
|
28.49
|
$
|
22.68
|
Total Return F,G,H
|
20.83 % |
15.53%
|
19.29%
|
(20.35)%
|
27.77%
|
5.55%
|
||||||
Ratios to Average Net Assets E,I,J
|
||||||||||||
Expenses before reductions
|
.28%
|
.36% K,L
|
.55%
|
.57%
|
.59%
|
.59%
|
||||||
Expenses net of fee waivers, if any
|
.28 % |
.36% K,L
|
.55%
|
.57%
|
.59%
|
.59%
|
||||||
Expenses net of all reductions, if any
|
.28%
|
.36% K,L
|
.55%
|
.57%
|
.59%
|
.59%
|
||||||
Net investment income (loss)
|
3.06%
|
2.95% K,L
|
2.69%
|
2.99%
|
2.32%
|
2.13%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
3,192,489
|
$
|
1,557,851
|
$
|
1,565,113
|
$
|
1,304,804
|
$
|
1,679,091
|
$
|
1,182,923
|
Portfolio turnover rate M
|
73 % N |
109% L,N
|
105%
|
114%
|
82%
|
75%
|
Common Stocks - 99.0%
|
|||
Shares
|
Value ($)
|
||
UNITED KINGDOM - 0.0%
|
|||
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
TechnipFMC PLC
|
14,387
|
495,488
|
|
UNITED STATES - 99.0%
|
|||
Communication Services - 11.7%
|
|||
Diversified Telecommunication Services - 0.9%
|
|||
AT&T Inc
|
822,878
|
23,814,089
|
|
Verizon Communications Inc
|
406,428
|
17,586,140
|
|
41,400,229
|
|||
Entertainment - 3.3%
|
|||
Electronic Arts Inc
|
128,918
|
20,588,205
|
|
Netflix Inc (b)
|
57,465
|
76,953,105
|
|
ROBLOX Corp Class A (b)
|
116,323
|
12,237,180
|
|
Walt Disney Co/The
|
358,190
|
44,419,142
|
|
154,197,632
|
|||
Interactive Media & Services - 7.0%
|
|||
Alphabet Inc Class A
|
514,029
|
90,587,331
|
|
Alphabet Inc Class C
|
546,576
|
96,957,117
|
|
Meta Platforms Inc Class A
|
190,125
|
140,329,361
|
|
327,873,809
|
|||
Media - 0.3%
|
|||
Comcast Corp Class A
|
358,321
|
12,788,476
|
|
Wireless Telecommunication Services - 0.2%
|
|||
T-Mobile US Inc
|
53,024
|
12,633,498
|
|
TOTAL COMMUNICATION SERVICES
|
548,893,644
|
||
Consumer Discretionary - 10.7%
|
|||
Automobiles - 1.7%
|
|||
Ford Motor Co
|
980,401
|
10,637,351
|
|
General Motors Co
|
49,677
|
2,444,605
|
|
Tesla Inc (b)
|
210,653
|
66,916,032
|
|
79,997,988
|
|||
Broadline Retail - 4.2%
|
|||
Amazon.com Inc (b)
|
897,682
|
196,942,455
|
|
Hotels, Restaurants & Leisure - 1.9%
|
|||
Airbnb Inc Class A (b)
|
43
|
5,691
|
|
Booking Holdings Inc
|
1,052
|
6,090,280
|
|
Carnival Corp (b)
|
234,355
|
6,590,063
|
|
DoorDash Inc Class A (b)
|
131,330
|
32,374,158
|
|
Expedia Group Inc Class A
|
144,391
|
24,355,874
|
|
Global Business Travel Group I Class A (b)(c)
|
316,520
|
1,994,076
|
|
International Game Technology PLC
|
179,156
|
2,832,456
|
|
McDonald's Corp
|
44,542
|
13,013,836
|
|
87,256,434
|
|||
Household Durables - 0.2%
|
|||
Garmin Ltd
|
49,487
|
10,328,927
|
|
M/I Homes Inc (b)
|
2
|
224
|
|
Meritage Homes Corp
|
6,929
|
464,035
|
|
Toll Brothers Inc
|
5,048
|
576,128
|
|
11,369,314
|
|||
Specialty Retail - 2.7%
|
|||
Abercrombie & Fitch Co Class A (b)
|
40,035
|
3,316,899
|
|
Bath & Body Works Inc
|
183,000
|
5,482,680
|
|
Best Buy Co Inc
|
117,054
|
7,857,835
|
|
Carvana Co Class A (b)
|
31,961
|
10,769,579
|
|
Gap Inc/The
|
370,858
|
8,088,413
|
|
Home Depot Inc/The
|
150,967
|
55,350,541
|
|
Lowe's Cos Inc
|
43,802
|
9,718,350
|
|
TJX Cos Inc/The
|
170,433
|
21,046,771
|
|
Ulta Beauty Inc (b)
|
8,137
|
3,806,651
|
|
125,437,719
|
|||
TOTAL CONSUMER DISCRETIONARY
|
501,003,910
|
||
Consumer Staples - 3.5%
|
|||
Beverages - 0.1%
|
|||
Coca-Cola Co/The
|
32,768
|
2,318,335
|
|
PepsiCo Inc
|
20,752
|
2,740,094
|
|
5,058,429
|
|||
Consumer Staples Distribution & Retail - 1.6%
|
|||
Costco Wholesale Corp
|
34,117
|
33,773,783
|
|
Walmart Inc
|
395,332
|
38,655,563
|
|
72,429,346
|
|||
Food Products - 0.2%
|
|||
Tyson Foods Inc Class A
|
147,704
|
8,262,562
|
|
Household Products - 0.6%
|
|||
Procter & Gamble Co/The
|
190,383
|
30,331,820
|
|
Tobacco - 1.0%
|
|||
Philip Morris International Inc
|
268,198
|
48,846,902
|
|
TOTAL CONSUMER STAPLES
|
164,929,059
|
||
Energy - 2.6%
|
|||
Oil, Gas & Consumable Fuels - 2.6%
|
|||
Cheniere Energy Inc
|
96,302
|
23,451,463
|
|
Devon Energy Corp
|
56,019
|
1,781,964
|
|
EOG Resources Inc
|
243,756
|
29,155,655
|
|
Exxon Mobil Corp
|
182,593
|
19,683,525
|
|
Marathon Petroleum Corp
|
98,926
|
16,432,598
|
|
Occidental Petroleum Corp
|
4,869
|
204,547
|
|
Williams Cos Inc/The
|
488,283
|
30,669,056
|
|
121,378,808
|
|||
Financials - 14.7%
|
|||
Banks - 3.3%
|
|||
Bank of America Corp
|
900,169
|
42,595,997
|
|
JPMorgan Chase & Co
|
301,606
|
87,438,596
|
|
PNC Financial Services Group Inc/The
|
96,039
|
17,903,590
|
|
US Bancorp
|
70,940
|
3,210,035
|
|
Wells Fargo & Co
|
26,485
|
2,121,978
|
|
153,270,196
|
|||
Capital Markets - 3.7%
|
|||
Cboe Global Markets Inc
|
24,307
|
5,668,635
|
|
Charles Schwab Corp/The
|
378,679
|
34,550,673
|
|
CME Group Inc Class A
|
82,419
|
22,716,325
|
|
Goldman Sachs Group Inc/The
|
43,589
|
30,850,115
|
|
Intercontinental Exchange Inc
|
80,036
|
14,684,205
|
|
Morgan Stanley
|
194,626
|
27,415,018
|
|
Morningstar Inc
|
11,611
|
3,645,041
|
|
MSCI Inc
|
10
|
5,767
|
|
S&P Global Inc
|
40,891
|
21,561,415
|
|
State Street Corp
|
15,264
|
1,623,174
|
|
T Rowe Price Group Inc (c)
|
86,167
|
8,315,116
|
|
171,035,484
|
|||
Consumer Finance - 0.5%
|
|||
Capital One Financial Corp
|
14,611
|
3,108,636
|
|
Synchrony Financial
|
283,479
|
18,919,389
|
|
22,028,025
|
|||
Financial Services - 5.2%
|
|||
Berkshire Hathaway Inc Class B (b)
|
207,805
|
100,945,435
|
|
Fiserv Inc (b)
|
53,242
|
9,179,453
|
|
Global Payments Inc
|
151,774
|
12,147,991
|
|
Mastercard Inc Class A
|
113,399
|
63,723,434
|
|
MGIC Investment Corp
|
34,161
|
951,042
|
|
PayPal Holdings Inc (b)
|
275,746
|
20,493,443
|
|
Visa Inc Class A
|
108,217
|
38,422,446
|
|
245,863,244
|
|||
Insurance - 1.9%
|
|||
Allstate Corp/The
|
109,823
|
22,108,468
|
|
Cincinnati Financial Corp
|
38,642
|
5,754,567
|
|
Markel Group Inc (b)
|
3,803
|
7,595,960
|
|
Progressive Corp/The
|
135,955
|
36,280,951
|
|
Prudential Financial Inc
|
51,907
|
5,576,888
|
|
Travelers Companies Inc/The
|
45,748
|
12,239,420
|
|
89,556,254
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.1%
|
|||
Rithm Capital Corp
|
470,323
|
5,309,946
|
|
TOTAL FINANCIALS
|
687,063,149
|
||
Health Care - 10.0%
|
|||
Biotechnology - 2.6%
|
|||
AbbVie Inc
|
276,160
|
51,260,819
|
|
Biogen Inc (b)
|
90,381
|
11,350,950
|
|
Exelixis Inc (b)
|
198,219
|
8,736,502
|
|
Gilead Sciences Inc
|
315,164
|
34,942,233
|
|
Incyte Corp (b)
|
155,022
|
10,556,998
|
|
PTC Therapeutics Inc (b)
|
77,128
|
3,766,932
|
|
120,614,434
|
|||
Health Care Equipment & Supplies - 1.4%
|
|||
Abbott Laboratories
|
65,174
|
8,864,316
|
|
Becton Dickinson & Co
|
63,144
|
10,876,554
|
|
Boston Scientific Corp (b)
|
350,180
|
37,612,834
|
|
Intuitive Surgical Inc (b)
|
3,268
|
1,775,864
|
|
STERIS PLC
|
18,611
|
4,470,734
|
|
63,600,302
|
|||
Health Care Providers & Services - 2.3%
|
|||
Cardinal Health Inc
|
145,382
|
24,424,176
|
|
Centene Corp (b)
|
242,726
|
13,175,167
|
|
Cigna Group/The
|
10,355
|
3,423,156
|
|
CVS Health Corp
|
181,869
|
12,545,324
|
|
Elevance Health Inc
|
33,442
|
13,007,600
|
|
Humana Inc
|
108,036
|
26,412,641
|
|
Tenet Healthcare Corp (b)
|
24,556
|
4,321,856
|
|
UnitedHealth Group Inc
|
36,271
|
11,315,464
|
|
108,625,384
|
|||
Health Care Technology - 0.4%
|
|||
Veeva Systems Inc Class A (b)
|
82,589
|
23,783,980
|
|
Pharmaceuticals - 3.3%
|
|||
Bristol-Myers Squibb Co
|
638,913
|
29,575,283
|
|
Eli Lilly & Co
|
40,212
|
31,346,460
|
|
Johnson & Johnson
|
130,481
|
19,930,973
|
|
Merck & Co Inc
|
507,816
|
40,198,715
|
|
Pfizer Inc
|
1,336,960
|
32,407,910
|
|
153,459,341
|
|||
TOTAL HEALTH CARE
|
470,083,441
|
||
Industrials - 9.7%
|
|||
Aerospace & Defense - 2.3%
|
|||
Axon Enterprise Inc (b)
|
14,797
|
12,251,028
|
|
Curtiss-Wright Corp
|
11,014
|
5,380,890
|
|
GE Aerospace
|
113,332
|
29,170,523
|
|
General Dynamics Corp
|
51,432
|
15,000,657
|
|
HEICO Corp
|
13,029
|
4,273,512
|
|
Howmet Aerospace Inc
|
69,672
|
12,968,049
|
|
Lockheed Martin Corp
|
64,579
|
29,909,119
|
|
108,953,778
|
|||
Air Freight & Logistics - 0.6%
|
|||
FedEx Corp
|
120,458
|
27,381,308
|
|
Building Products - 1.1%
|
|||
Allegion plc
|
123,203
|
17,756,016
|
|
Trane Technologies PLC
|
75,630
|
33,081,319
|
|
50,837,335
|
|||
Commercial Services & Supplies - 0.6%
|
|||
Cintas Corp
|
135,598
|
30,220,726
|
|
Waste Management Inc
|
1
|
229
|
|
30,220,955
|
|||
Construction & Engineering - 0.3%
|
|||
Valmont Industries Inc
|
37,483
|
12,240,823
|
|
Ground Transportation - 2.4%
|
|||
CSX Corp
|
603,563
|
19,694,261
|
|
Lyft Inc Class A (b)
|
1,503,168
|
23,689,928
|
|
Uber Technologies Inc (b)
|
450,536
|
42,035,009
|
|
Union Pacific Corp
|
104,312
|
24,000,105
|
|
109,419,303
|
|||
Industrial Conglomerates - 0.7%
|
|||
Honeywell International Inc
|
147,106
|
34,258,045
|
|
Machinery - 0.2%
|
|||
Caterpillar Inc
|
18,507
|
7,184,603
|
|
SPX Technologies Inc (b)
|
15,808
|
2,650,685
|
|
9,835,288
|
|||
Passenger Airlines - 0.1%
|
|||
SkyWest Inc (b)
|
36,169
|
3,724,322
|
|
Professional Services - 1.0%
|
|||
Automatic Data Processing Inc
|
48,918
|
15,086,311
|
|
Dun & Bradstreet Holdings Inc
|
399,913
|
3,635,209
|
|
Leidos Holdings Inc
|
156,298
|
24,657,573
|
|
Maximus Inc
|
45,667
|
3,205,823
|
|
46,584,916
|
|||
Trading Companies & Distributors - 0.4%
|
|||
Rush Enterprises Inc Class A
|
33,913
|
1,746,859
|
|
WW Grainger Inc
|
18,577
|
19,324,538
|
|
21,071,397
|
|||
TOTAL INDUSTRIALS
|
454,527,470
|
||
Information Technology - 31.8%
|
|||
Communications Equipment - 1.1%
|
|||
Arista Networks Inc
|
3
|
307
|
|
Cisco Systems Inc
|
463,134
|
32,132,237
|
|
Motorola Solutions Inc
|
42,795
|
17,993,586
|
|
50,126,130
|
|||
Electronic Equipment, Instruments & Components - 0.3%
|
|||
Itron Inc (b)
|
107,963
|
14,211,169
|
|
IT Services - 0.3%
|
|||
Gartner Inc (b)
|
25,478
|
10,298,717
|
|
IBM Corporation
|
1,437
|
423,599
|
|
Kyndryl Holdings Inc (b)
|
123,109
|
5,165,654
|
|
15,887,970
|
|||
Semiconductors & Semiconductor Equipment - 13.3%
|
|||
Advanced Micro Devices Inc (b)
|
71,232
|
10,107,821
|
|
Analog Devices Inc
|
59,458
|
14,152,193
|
|
Applied Materials Inc
|
211,625
|
38,742,189
|
|
Broadcom Inc
|
504,725
|
139,127,446
|
|
Cirrus Logic Inc (b)
|
116,949
|
12,192,518
|
|
Credo Technology Group Holding Ltd (b)
|
3,010
|
278,696
|
|
KLA Corp
|
3,423
|
3,066,118
|
|
Lam Research Corp
|
2
|
194
|
|
NVIDIA Corp
|
2,323,921
|
367,156,279
|
|
QUALCOMM Inc
|
248,464
|
39,570,377
|
|
624,393,831
|
|||
Software - 10.1%
|
|||
Adobe Inc (b)
|
96,734
|
37,424,450
|
|
Alarm.com Holdings Inc (b)(c)
|
187,836
|
10,625,883
|
|
Autodesk Inc (b)
|
49,214
|
15,235,178
|
|
Commvault Systems Inc (b)
|
2
|
349
|
|
Dropbox Inc Class A (b)
|
115,637
|
3,307,218
|
|
Fortinet Inc (b)
|
98,184
|
10,380,012
|
|
Microsoft Corp
|
623,843
|
310,305,747
|
|
Oracle Corp
|
25,333
|
5,538,554
|
|
Palantir Technologies Inc Class A (b)
|
25,455
|
3,470,026
|
|
Salesforce Inc
|
169,386
|
46,189,868
|
|
Servicenow Inc (b)
|
1,805
|
1,855,684
|
|
Teradata Corp (b)
|
348,775
|
7,781,170
|
|
Zoom Communications Inc Class A (b)
|
247,141
|
19,272,055
|
|
471,386,194
|
|||
Technology Hardware, Storage & Peripherals - 6.7%
|
|||
Apple Inc
|
1,435,633
|
294,548,823
|
|
NetApp Inc
|
39,083
|
4,164,293
|
|
Western Digital Corp
|
228,325
|
14,610,517
|
|
313,323,633
|
|||
TOTAL INFORMATION TECHNOLOGY
|
1,489,328,927
|
||
Materials - 2.3%
|
|||
Chemicals - 1.1%
|
|||
Axalta Coating Systems Ltd (b)
|
10
|
297
|
|
Balchem Corp
|
44,027
|
7,009,098
|
|
DuPont de Nemours Inc
|
24,653
|
1,690,949
|
|
Ecolab Inc
|
110,245
|
29,704,413
|
|
Linde PLC
|
31,938
|
14,984,671
|
|
53,389,428
|
|||
Construction Materials - 0.4%
|
|||
CRH PLC
|
189,459
|
17,392,336
|
|
Containers & Packaging - 0.4%
|
|||
Amcor PLC
|
1,502,296
|
13,806,100
|
|
Crown Holdings Inc
|
37,962
|
3,909,327
|
|
17,715,427
|
|||
Metals & Mining - 0.4%
|
|||
Commercial Metals Co
|
15,492
|
757,714
|
|
Newmont Corp
|
311,635
|
18,155,855
|
|
18,913,569
|
|||
TOTAL MATERIALS
|
107,410,760
|
||
Real Estate - 1.2%
|
|||
Health Care REITs - 0.2%
|
|||
CareTrust REIT Inc
|
250,542
|
7,666,585
|
|
Real Estate Management & Development - 0.0%
|
|||
Compass Inc Class A (b)
|
104,909
|
658,828
|
|
Specialized REITs - 1.0%
|
|||
American Tower Corp
|
80,154
|
17,715,637
|
|
Digital Realty Trust Inc
|
64,814
|
11,299,025
|
|
Equinix Inc
|
17,621
|
14,016,977
|
|
Extra Space Storage Inc
|
40,716
|
6,003,167
|
|
49,034,806
|
|||
TOTAL REAL ESTATE
|
57,360,219
|
||
Utilities - 0.8%
|
|||
Electric Utilities - 0.7%
|
|||
Exelon Corp
|
79,231
|
3,440,210
|
|
NextEra Energy Inc
|
378,127
|
26,249,576
|
|
29,689,786
|
|||
Multi-Utilities - 0.1%
|
|||
Avista Corp
|
13,010
|
493,730
|
|
Black Hills Corp
|
3,842
|
215,536
|
|
Sempra
|
82,277
|
6,234,128
|
|
6,943,394
|
|||
TOTAL UTILITIES
|
36,633,180
|
||
TOTAL UNITED STATES
|
4,638,612,567
|
||
TOTAL COMMON STOCKS
(Cost $3,813,999,121)
|
4,639,108,055
|
||
U.S. Treasury Obligations - 0.1%
|
||||
Yield (%) (d)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 7/17/2025 (e)
|
4.26
|
1,880,000
|
1,876,541
|
|
US Treasury Bills 0% 7/24/2025 (e)
|
4.23 to 4.25
|
760,000
|
757,978
|
|
US Treasury Bills 0% 8/21/2025 (e)
|
4.28
|
290,000
|
288,226
|
|
US Treasury Bills 0% 8/7/2025 (e)
|
4.26 to 4.32
|
200,000
|
199,126
|
|
US Treasury Bills 0% 9/11/2025 (e)
|
4.29 to 4.30
|
70,000
|
69,405
|
|
US Treasury Bills 0% 9/18/2025 (e)
|
4.24 to 4.26
|
160,000
|
158,519
|
|
US Treasury Bills 0% 9/4/2025 (e)
|
4.28 to 4.29
|
330,000
|
327,462
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $3,677,230)
|
3,677,257
|
|||
Money Market Funds - 0.9%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (f)
|
4.32
|
40,230,290
|
40,238,336
|
|
Fidelity Securities Lending Cash Central Fund (f)(g)
|
4.32
|
827,292
|
827,375
|
|
TOTAL MONEY MARKET FUNDS
(Cost $41,065,711)
|
41,065,711
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $3,858,742,062)
|
4,683,851,023
|
NET OTHER ASSETS (LIABILITIES) - 0.0%
|
1,314,277
|
NET ASSETS - 100.0%
|
4,685,165,300
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME S&P 500 Index Contracts (United States)
|
128
|
Sep 2025
|
40,024,000
|
1,079,970
|
1,079,970
|
The notional amount of futures purchased as a percentage of Net Assets is 0.9%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing
|
(c)
|
Security or a portion of the security is on loan at period end.
|
(d)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(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 $2,833,811.
|
(f)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(g)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
23,491,496
|
555,204,295
|
538,457,455
|
1,548,020
|
-
|
-
|
40,238,336
|
40,230,290
|
0.1%
|
Fidelity Securities Lending Cash Central Fund
|
562,500
|
157,404,345
|
157,139,470
|
2,358
|
-
|
-
|
827,375
|
827,292
|
0.0%
|
Total
|
24,053,996
|
712,608,640
|
695,596,925
|
1,550,378
|
-
|
-
|
41,065,711
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
548,893,644
|
548,893,644
|
-
|
-
|
Consumer Discretionary
|
501,003,910
|
501,003,910
|
-
|
-
|
Consumer Staples
|
164,929,059
|
164,929,059
|
-
|
-
|
Energy
|
121,874,296
|
121,874,296
|
-
|
-
|
Financials
|
687,063,149
|
687,063,149
|
-
|
-
|
Health Care
|
470,083,441
|
470,083,441
|
-
|
-
|
Industrials
|
454,527,470
|
454,527,470
|
-
|
-
|
Information Technology
|
1,489,328,927
|
1,489,328,927
|
-
|
-
|
Materials
|
107,410,760
|
107,410,760
|
-
|
-
|
Real Estate
|
57,360,219
|
57,360,219
|
-
|
-
|
Utilities
|
36,633,180
|
36,633,180
|
-
|
-
|
U.S. Treasury Obligations
|
3,677,257
|
-
|
3,677,257
|
-
|
Money Market Funds
|
41,065,711
|
41,065,711
|
-
|
-
|
Total Investments in Securities:
|
4,683,851,023
|
4,680,173,766
|
3,677,257
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
1,079,970
|
1,079,970
|
-
|
-
|
Total Assets
|
1,079,970
|
1,079,970
|
-
|
-
|
Total Derivative Instruments:
|
1,079,970
|
1,079,970
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
1,079,970
|
0
|
Total Equity Risk
|
1,079,970
|
0
|
Total Value of Derivatives
|
1,079,970
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $3,871,830) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $3,817,676,351)
|
$
|
4,642,785,312
|
||
Fidelity Central Funds (cost $41,065,711)
|
41,065,711
|
|||
Total Investment in Securities (cost $3,858,742,062)
|
$
|
4,683,851,023
|
||
Cash
|
69,480
|
|||
Receivable for fund shares sold
|
6,898,289
|
|||
Dividends receivable
|
2,259,349
|
|||
Distributions receivable from Fidelity Central Funds
|
156,148
|
|||
Receivable for daily variation margin on futures contracts
|
192,000
|
|||
Other receivables
|
4,265
|
|||
Total assets
|
4,693,430,554
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
6,768,748
|
||
Accrued management fee
|
669,131
|
|||
Collateral on securities loaned
|
827,375
|
|||
Total liabilities
|
8,265,254
|
|||
Net Assets
|
$
|
4,685,165,300
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
4,052,874,317
|
||
Total accumulated earnings (loss)
|
632,290,983
|
|||
Net Assets
|
$
|
4,685,165,300
|
||
Net Asset Value, offering price and redemption price per share ($4,685,165,300 ÷ 135,835,453 shares)
|
$
|
34.49
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
51,072,028
|
||
Interest
|
175,028
|
|||
Income from Fidelity Central Funds (including $2,358 from security lending)
|
1,550,378
|
|||
Total income
|
52,797,434
|
|||
Expenses
|
||||
Management fee
|
$
|
7,153,740
|
||
Independent trustees' fees and expenses
|
15,253
|
|||
Interest
|
-
|
|||
Miscellaneous
|
19,178
|
|||
Total expenses before reductions
|
7,188,171
|
|||
Expense reductions
|
(1,474)
|
|||
Total expenses after reductions
|
7,186,697
|
|||
Net Investment income (loss)
|
45,610,737
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(128,386,977)
|
|||
Redemptions in-kind
|
507,599,694
|
|||
Fidelity Central Funds
|
-
|
|||
Futures contracts
|
(1,338,433)
|
|||
Total net realized gain (loss)
|
377,874,284
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
55,736,617
|
|||
Futures contracts
|
1,005,131
|
|||
Total change in net unrealized appreciation (depreciation)
|
56,741,748
|
|||
Net gain (loss)
|
434,616,032
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
480,226,769
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Ten months ended
June 30, 2024
|
Year ended
August 31, 2023
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
45,610,737
|
$
|
22,083,441
|
$
|
24,807,007
|
Net realized gain (loss)
|
377,874,284
|
209,030,464
|
(3,624,422)
|
|||
Change in net unrealized appreciation (depreciation)
|
56,741,748
|
246,834,439
|
223,258,386
|
|||
Net increase (decrease) in net assets resulting from operations
|
480,226,769
|
477,948,344
|
244,440,971
|
|||
Distributions to shareholders
|
(45,512,986)
|
(35,565,387)
|
(22,292,999)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
2,992,296,321
|
1,442,966,046
|
629,039,473
|
|||
Reinvestment of distributions
|
-
|
16,466,045
|
18,530,259
|
|||
Cost of shares redeemed
|
(1,653,079,179)
|
(1,038,895,541)
|
(1,283,514,169)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
1,339,217,142
|
420,536,550
|
(635,944,437)
|
|||
Total increase (decrease) in net assets
|
1,773,930,925
|
862,919,507
|
(413,796,465)
|
|||
Net Assets
|
||||||
Beginning of period
|
2,911,234,375
|
2,048,314,868
|
2,462,111,333
|
|||
End of period
|
$
|
4,685,165,300
|
$
|
2,911,234,375
|
$
|
2,048,314,868
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
92,700,000
|
50,966,892
|
27,859,340
|
|||
Issued in reinvestment of distributions
|
-
|
676,837
|
875,246
|
|||
Redeemed
|
(52,100,000)
|
(38,273,623)
|
(58,631,055)
|
|||
Net increase (decrease)
|
40,600,000
|
13,370,106
|
(29,896,469)
|
|||
Fidelity® Enhanced Large Cap Core ETF |
Years ended June 30,
|
2025
|
2024 A
|
2023 B,C
|
2022 B,C
|
2021 B,C
|
2020 B,C
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
30.57
|
$
|
25.02
|
$
|
22.03
|
$
|
27.89
|
$
|
21.60
|
$
|
18.13
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) D,E
|
.37
|
.27
|
.29
|
.29
|
.26
|
.29
|
||||||
Net realized and unrealized gain (loss)
|
3.91
|
5.71
|
2.96
|
(2.48)
|
6.55
|
3.64
|
||||||
Total from investment operations
|
4.28
|
5.98
|
3.25
|
(2.19)
|
6.81
|
3.93
|
||||||
Distributions from net investment income
|
(.36)
|
(.43)
|
(.18)
|
(.43)
|
(.26)
|
(.31)
|
||||||
Distributions from net realized gain
|
-
|
-
|
(.10)
|
(3.24)
|
(.26)
|
(.15)
|
||||||
Total distributions
|
(.36)
|
(.43)
|
(.26) F
|
(3.67)
|
(.52)
|
(.46)
|
||||||
Net asset value, end of period
|
$
|
34.49
|
$
|
30.57
|
$
|
25.02
|
$
|
22.03
|
$
|
27.89
|
$
|
21.60
|
Total Return G,H,I
|
14.07 % |
24.20%
|
15.01%
|
(9.41)%
|
32.14%
|
21.97%
|
||||||
Ratios to Average Net Assets E,J,K
|
||||||||||||
Expenses before reductions
|
.18%
|
.24% L,M
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of fee waivers, if any
|
.18 % |
.23% L,M
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of all reductions, if any
|
.18%
|
.23% L,M
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Net investment income (loss)
|
1.15%
|
1.20% L,M
|
1.26%
|
1.18%
|
1.09%
|
1.49%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
4,685,165
|
$
|
2,911,234
|
$
|
2,048,315
|
$
|
2,462,111
|
$
|
1,508,781
|
$
|
1,087,245
|
Portfolio turnover rate N
|
77 % O |
58% L,O
|
105%
|
104%
|
83%
|
63%
|
Common Stocks - 98.1%
|
|||
Shares
|
Value ($)
|
||
FINLAND - 0.1%
|
|||
Consumer Discretionary - 0.1%
|
|||
Textiles, Apparel & Luxury Goods - 0.1%
|
|||
Amer Sports Inc (b)
|
125,325
|
4,857,597
|
|
UNITED KINGDOM - 0.1%
|
|||
Energy - 0.1%
|
|||
Energy Equipment & Services - 0.1%
|
|||
TechnipFMC PLC
|
114,664
|
3,949,028
|
|
UNITED STATES - 97.9%
|
|||
Communication Services - 12.7%
|
|||
Entertainment - 3.5%
|
|||
Electronic Arts Inc
|
48,440
|
7,735,868
|
|
Netflix Inc (b)
|
66,904
|
89,593,154
|
|
ROBLOX Corp Class A (b)
|
258,315
|
27,174,738
|
|
Spotify Technology SA (b)
|
5,534
|
4,246,459
|
|
128,750,219
|
|||
Interactive Media & Services - 9.2%
|
|||
Alphabet Inc Class A
|
473,018
|
83,359,962
|
|
Alphabet Inc Class C
|
489,435
|
86,820,875
|
|
Meta Platforms Inc Class A
|
231,041
|
170,529,052
|
|
340,709,889
|
|||
TOTAL COMMUNICATION SERVICES
|
469,460,108
|
||
Consumer Discretionary - 15.5%
|
|||
Automobiles - 3.2%
|
|||
Tesla Inc (b)
|
374,295
|
118,898,550
|
|
Broadline Retail - 5.7%
|
|||
Amazon.com Inc (b)
|
951,601
|
208,771,743
|
|
Diversified Consumer Services - 0.5%
|
|||
Duolingo Inc Class A (b)
|
43,425
|
17,805,119
|
|
Hotels, Restaurants & Leisure - 2.5%
|
|||
Booking Holdings Inc
|
7,037
|
40,738,882
|
|
DoorDash Inc Class A (b)
|
116,734
|
28,776,098
|
|
Dutch Bros Inc Class A (b)
|
13,299
|
909,253
|
|
Expedia Group Inc Class A
|
120,479
|
20,322,398
|
|
Global Business Travel Group I Class A (b)
|
33
|
208
|
|
Life Time Group Holdings Inc (b)
|
9,937
|
301,389
|
|
91,048,228
|
|||
Household Durables - 0.4%
|
|||
Garmin Ltd
|
76,097
|
15,882,965
|
|
Specialty Retail - 3.2%
|
|||
Abercrombie & Fitch Co Class A (b)
|
137,408
|
11,384,253
|
|
Bath & Body Works Inc
|
135,891
|
4,071,294
|
|
Carvana Co Class A (b)
|
52,535
|
17,702,194
|
|
Home Depot Inc/The
|
144,458
|
52,964,081
|
|
TJX Cos Inc/The
|
221,280
|
27,325,867
|
|
Ulta Beauty Inc (b)
|
5,868
|
2,745,168
|
|
116,192,857
|
|||
TOTAL CONSUMER DISCRETIONARY
|
568,599,462
|
||
Consumer Staples - 1.3%
|
|||
Beverages - 0.2%
|
|||
Coca-Cola Co/The
|
19,463
|
1,377,007
|
|
PepsiCo Inc
|
52,750
|
6,965,110
|
|
8,342,117
|
|||
Consumer Staples Distribution & Retail - 1.0%
|
|||
Costco Wholesale Corp
|
35,784
|
35,424,013
|
|
Tobacco - 0.1%
|
|||
Philip Morris International Inc
|
31,160
|
5,675,171
|
|
TOTAL CONSUMER STAPLES
|
49,441,301
|
||
Energy - 0.6%
|
|||
Oil, Gas & Consumable Fuels - 0.6%
|
|||
Cheniere Energy Inc
|
87,410
|
21,286,084
|
|
Texas Pacific Land Corp
|
590
|
623,270
|
|
Williams Cos Inc/The
|
888
|
55,775
|
|
21,965,129
|
|||
Financials - 5.3%
|
|||
Capital Markets - 1.2%
|
|||
Charles Schwab Corp/The
|
134,395
|
12,262,200
|
|
Morningstar Inc
|
31,609
|
9,923,013
|
|
MSCI Inc
|
37,404
|
21,572,383
|
|
43,757,596
|
|||
Financial Services - 3.5%
|
|||
Fiserv Inc (b)
|
1,806
|
311,372
|
|
Mastercard Inc Class A
|
129,207
|
72,606,582
|
|
Visa Inc Class A
|
158,652
|
56,329,393
|
|
129,247,347
|
|||
Insurance - 0.6%
|
|||
Palomar Hldgs Inc (b)
|
12,457
|
1,921,492
|
|
Progressive Corp/The
|
79,337
|
21,171,872
|
|
23,093,364
|
|||
TOTAL FINANCIALS
|
196,098,307
|
||
Health Care - 7.1%
|
|||
Biotechnology - 2.9%
|
|||
AbbVie Inc
|
186,129
|
34,549,265
|
|
Exelixis Inc (b)
|
451,617
|
19,905,019
|
|
Gilead Sciences Inc
|
162,890
|
18,059,614
|
|
Incyte Corp (b)
|
265,512
|
18,081,367
|
|
Insmed Inc (b)
|
3,000
|
301,920
|
|
Natera Inc (b)
|
26,108
|
4,410,686
|
|
PTC Therapeutics Inc (b)
|
156,612
|
7,648,930
|
|
TG Therapeutics Inc (b)
|
67,820
|
2,440,842
|
|
105,397,643
|
|||
Health Care Equipment & Supplies - 0.9%
|
|||
Boston Scientific Corp (b)
|
174,741
|
18,768,931
|
|
Insulet Corp (b)
|
33,721
|
10,594,464
|
|
Intuitive Surgical Inc (b)
|
8,511
|
4,624,962
|
|
33,988,357
|
|||
Health Care Providers & Services - 0.2%
|
|||
Cardinal Health Inc
|
37,882
|
6,364,176
|
|
UnitedHealth Group Inc
|
6,054
|
1,888,666
|
|
8,252,842
|
|||
Life Sciences Tools & Services - 0.4%
|
|||
Illumina Inc (b)(c)
|
161,609
|
15,419,115
|
|
Pharmaceuticals - 2.7%
|
|||
Bristol-Myers Squibb Co
|
365,469
|
16,917,560
|
|
Eli Lilly & Co
|
78,825
|
61,446,453
|
|
Merck & Co Inc
|
251,233
|
19,887,604
|
|
98,251,617
|
|||
TOTAL HEALTH CARE
|
261,309,574
|
||
Industrials - 5.7%
|
|||
Aerospace & Defense - 1.3%
|
|||
Axon Enterprise Inc (b)
|
33,428
|
27,676,378
|
|
GE Aerospace
|
58,349
|
15,018,449
|
|
Loar Holdings Inc (b)
|
21,775
|
1,876,352
|
|
Lockheed Martin Corp
|
3,941
|
1,825,235
|
|
StandardAero Inc
|
90,972
|
2,879,264
|
|
49,275,678
|
|||
Building Products - 0.7%
|
|||
Allegion plc
|
12,786
|
1,842,718
|
|
Johnson Controls International plc
|
18,400
|
1,943,408
|
|
Trane Technologies PLC
|
50,651
|
22,155,254
|
|
25,941,380
|
|||
Commercial Services & Supplies - 0.7%
|
|||
Cintas Corp
|
119,756
|
26,690,020
|
|
Construction & Engineering - 0.0%
|
|||
Valmont Industries Inc
|
1,281
|
418,336
|
|
Ground Transportation - 2.3%
|
|||
Lyft Inc Class A (b)
|
1,210,024
|
19,069,978
|
|
Uber Technologies Inc (b)
|
455,050
|
42,456,165
|
|
Union Pacific Corp
|
92,176
|
21,207,854
|
|
82,733,997
|
|||
Industrial Conglomerates - 0.0%
|
|||
Honeywell International Inc
|
3,623
|
843,724
|
|
Professional Services - 0.1%
|
|||
Leidos Holdings Inc
|
13,172
|
2,078,015
|
|
Trading Companies & Distributors - 0.6%
|
|||
WW Grainger Inc
|
20,816
|
21,653,636
|
|
TOTAL INDUSTRIALS
|
209,634,786
|
||
Information Technology - 48.8%
|
|||
Communications Equipment - 0.0%
|
|||
Arista Networks Inc
|
456
|
46,653
|
|
Electronic Equipment, Instruments & Components - 0.3%
|
|||
Zebra Technologies Corp Class A (b)
|
37,878
|
11,680,060
|
|
Semiconductors & Semiconductor Equipment - 20.0%
|
|||
Advanced Micro Devices Inc (b)
|
119,777
|
16,996,356
|
|
Applied Materials Inc
|
136,406
|
24,971,846
|
|
Broadcom Inc
|
613,084
|
168,996,605
|
|
Cirrus Logic Inc (b)
|
79,168
|
8,253,660
|
|
Credo Technology Group Holding Ltd (b)
|
56,826
|
5,261,519
|
|
KLA Corp
|
16,364
|
14,657,889
|
|
NVIDIA Corp
|
2,986,796
|
471,883,901
|
|
QUALCOMM Inc
|
156,283
|
24,889,631
|
|
735,911,407
|
|||
Software - 18.6%
|
|||
Adobe Inc (b)
|
96,910
|
37,492,541
|
|
Atlassian Corp Class A (b)
|
107,989
|
21,931,486
|
|
Autodesk Inc (b)
|
85,588
|
26,495,477
|
|
Clearwater Analytics Holdings Inc Class A (b)
|
124,168
|
2,723,004
|
|
Commvault Systems Inc (b)
|
7,006
|
1,221,356
|
|
Dropbox Inc Class A (b)
|
454,474
|
12,997,956
|
|
Fortinet Inc (b)
|
234,371
|
24,777,702
|
|
HubSpot Inc (b)
|
18,306
|
10,189,669
|
|
Intuit Inc
|
15,710
|
12,373,667
|
|
Microsoft Corp
|
887,606
|
441,504,100
|
|
Oracle Corp
|
111,769
|
24,436,056
|
|
Palantir Technologies Inc Class A (b)
|
161,908
|
22,071,299
|
|
Salesforce Inc
|
86,086
|
23,474,791
|
|
Servicenow Inc (b)
|
20,271
|
20,840,210
|
|
Tenable Holdings Inc (b)
|
91,384
|
3,086,952
|
|
Teradata Corp (b)
|
360
|
8,032
|
|
685,624,298
|
|||
Technology Hardware, Storage & Peripherals - 9.9%
|
|||
Apple Inc
|
1,770,695
|
363,293,493
|
|
TOTAL INFORMATION TECHNOLOGY
|
1,796,555,911
|
||
Materials - 0.8%
|
|||
Chemicals - 0.6%
|
|||
Ecolab Inc
|
82,795
|
22,308,285
|
|
Metals & Mining - 0.2%
|
|||
Royal Gold Inc
|
49,372
|
8,780,316
|
|
TOTAL MATERIALS
|
31,088,601
|
||
Real Estate - 0.1%
|
|||
Health Care REITs - 0.1%
|
|||
CareTrust REIT Inc
|
94,707
|
2,898,034
|
|
TOTAL UNITED STATES
|
3,607,051,213
|
||
TOTAL COMMON STOCKS
(Cost $2,181,586,155)
|
3,615,857,838
|
||
U.S. Treasury Obligations - 0.1%
|
||||
Yield (%) (d)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 8/21/2025 (e)
|
4.28
|
720,000
|
715,595
|
|
US Treasury Bills 0% 8/7/2025 (e)
|
4.27
|
1,940,000
|
1,931,525
|
|
US Treasury Bills 0% 9/4/2025 (e)
|
4.28
|
2,480,000
|
2,460,930
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $5,108,299)
|
5,108,050
|
|||
Money Market Funds - 2.0%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (f)
|
4.32
|
74,083,656
|
74,098,473
|
|
Fidelity Securities Lending Cash Central Fund (f)(g)
|
4.32
|
1,044,796
|
1,044,900
|
|
TOTAL MONEY MARKET FUNDS
(Cost $75,143,373)
|
75,143,373
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.2%
(Cost $2,261,837,827)
|
3,696,109,261
|
NET OTHER ASSETS (LIABILITIES) - (0.2)%
|
(8,657,791)
|
NET ASSETS - 100.0%
|
3,687,451,470
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME S&P 500 Index Contracts (United States)
|
209
|
Sep 2025
|
65,351,688
|
1,137,099
|
1,137,099
|
The notional amount of futures purchased as a percentage of Net Assets is 1.8%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing
|
(c)
|
Security or a portion of the security is on loan at period end.
|
(d)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(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 $4,490,757.
|
(f)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(g)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
45,135,313
|
660,269,776
|
631,306,616
|
1,315,994
|
-
|
-
|
74,098,473
|
74,083,656
|
0.1%
|
Fidelity Securities Lending Cash Central Fund
|
5,211,375
|
127,920,693
|
132,087,168
|
900
|
-
|
-
|
1,044,900
|
1,044,796
|
0.0%
|
Total
|
50,346,688
|
788,190,469
|
763,393,784
|
1,316,894
|
-
|
-
|
75,143,373
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
469,460,108
|
469,460,108
|
-
|
-
|
Consumer Discretionary
|
573,457,059
|
573,457,059
|
-
|
-
|
Consumer Staples
|
49,441,301
|
49,441,301
|
-
|
-
|
Energy
|
25,914,157
|
25,914,157
|
-
|
-
|
Financials
|
196,098,307
|
196,098,307
|
-
|
-
|
Health Care
|
261,309,574
|
261,309,574
|
-
|
-
|
Industrials
|
209,634,786
|
209,634,786
|
-
|
-
|
Information Technology
|
1,796,555,911
|
1,796,555,911
|
-
|
-
|
Materials
|
31,088,601
|
31,088,601
|
-
|
-
|
Real Estate
|
2,898,034
|
2,898,034
|
-
|
-
|
U.S. Treasury Obligations
|
5,108,050
|
-
|
5,108,050
|
-
|
Money Market Funds
|
75,143,373
|
75,143,373
|
-
|
-
|
Total Investments in Securities:
|
3,696,109,261
|
3,691,001,211
|
5,108,050
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
1,137,099
|
1,137,099
|
-
|
-
|
Total Assets
|
1,137,099
|
1,137,099
|
-
|
-
|
Total Derivative Instruments:
|
1,137,099
|
1,137,099
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
1,137,099
|
0
|
Total Equity Risk
|
1,137,099
|
0
|
Total Value of Derivatives
|
1,137,099
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $1,030,428) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $2,186,694,454)
|
$
|
3,620,965,888
|
||
Fidelity Central Funds (cost $75,143,373)
|
75,143,373
|
|||
Total Investment in Securities (cost $2,261,837,827)
|
$
|
3,696,109,261
|
||
Cash
|
545
|
|||
Receivable for investments sold
|
791,960
|
|||
Dividends receivable
|
774,464
|
|||
Distributions receivable from Fidelity Central Funds
|
130,779
|
|||
Receivable for daily variation margin on futures contracts
|
308,902
|
|||
Total assets
|
3,698,115,911
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
9,089,271
|
||
Accrued management fee
|
530,270
|
|||
Collateral on securities loaned
|
1,044,900
|
|||
Total liabilities
|
10,664,441
|
|||
Net Assets
|
$
|
3,687,451,470
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
2,350,667,292
|
||
Total accumulated earnings (loss)
|
1,336,784,178
|
|||
Net Assets
|
$
|
3,687,451,470
|
||
Net Asset Value, offering price and redemption price per share ($3,687,451,470 ÷ 99,618,998 shares)
|
$
|
37.02
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
19,510,462
|
||
Interest
|
169,320
|
|||
Income from Fidelity Central Funds (including $900 from security lending)
|
1,316,894
|
|||
Total income
|
20,996,676
|
|||
Expenses
|
||||
Management fee
|
$
|
5,510,653
|
||
Independent trustees' fees and expenses
|
12,050
|
|||
Interest
|
2,400
|
|||
Miscellaneous
|
-
|
|||
Total expenses before reductions
|
5,525,103
|
|||
Expense reductions
|
(778)
|
|||
Total expenses after reductions
|
5,524,325
|
|||
Net Investment income (loss)
|
15,472,351
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(94,704,842)
|
|||
Redemptions in-kind
|
356,934,910
|
|||
Fidelity Central Funds
|
-
|
|||
Foreign currency transactions
|
-
|
|||
Futures contracts
|
(2,198,245)
|
|||
Total net realized gain (loss)
|
260,031,823
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
167,602,688
|
|||
Futures contracts
|
1,101,880
|
|||
Total change in net unrealized appreciation (depreciation)
|
168,704,568
|
|||
Net gain (loss)
|
428,736,391
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
444,208,742
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Ten months ended
June 30, 2024
|
Year ended
August 31, 2023
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
15,472,351
|
$
|
11,344,510
|
$
|
14,345,783
|
Net realized gain (loss)
|
260,031,823
|
260,568,152
|
46,418,406
|
|||
Change in net unrealized appreciation (depreciation)
|
168,704,568
|
368,592,605
|
358,739,553
|
|||
Net increase (decrease) in net assets resulting from operations
|
444,208,742
|
640,505,267
|
419,503,742
|
|||
Distributions to shareholders
|
(15,582,492)
|
(21,679,293)
|
(10,050,462)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
1,852,251,673
|
1,183,970,024
|
1,206,466,982
|
|||
Reinvestment of distributions
|
-
|
11,773,276
|
8,894,596
|
|||
Cost of shares redeemed
|
(1,280,331,656)
|
(1,496,108,622)
|
(882,002,420)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
571,920,017
|
(300,365,322)
|
333,359,158
|
|||
Total increase (decrease) in net assets
|
1,000,546,267
|
318,460,652
|
742,812,438
|
|||
Net Assets
|
||||||
Beginning of period
|
2,686,905,203
|
2,368,444,551
|
1,625,632,113
|
|||
End of period
|
$
|
3,687,451,470
|
$
|
2,686,905,203
|
$
|
2,368,444,551
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
54,500,000
|
41,974,709
|
56,403,387
|
|||
Issued in reinvestment of distributions
|
-
|
488,957
|
467,755
|
|||
Redeemed
|
(38,200,000)
|
(55,500,883)
|
(39,305,302)
|
|||
Net increase (decrease)
|
16,300,000
|
(13,037,217)
|
17,565,840
|
|||
Fidelity® Enhanced Large Cap Growth ETF |
Years ended June 30,
|
2025
|
2024 A
|
2023 B,C
|
2022 B,C
|
2021 B,C
|
2020 B,C
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
32.25
|
$
|
24.58
|
$
|
20.64
|
$
|
28.47
|
$
|
23.10
|
$
|
16.82
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) D,E
|
.17
|
.14
|
.15
|
.12
|
.12
|
.13
|
||||||
Net realized and unrealized gain (loss)
|
4.77
|
7.78
|
3.91
|
(4.19)
|
6.34
|
6.72
|
||||||
Total from investment operations
|
4.94
|
7.92
|
4.06
|
(4.07)
|
6.46
|
6.85
|
||||||
Distributions from net investment income
|
(.17)
|
(.24)
|
(.12)
|
(.12)
|
(.13)
|
(.15)
|
||||||
Distributions from net realized gain
|
-
|
(.01)
|
-
|
(3.64)
|
(.96)
|
(.42)
|
||||||
Total distributions
|
(.17)
|
(.25)
|
(.12)
|
(3.76)
|
(1.09)
|
(.57)
|
||||||
Net asset value, end of period
|
$
|
37.02
|
$
|
32.25
|
$
|
24.58
|
$
|
20.64
|
$
|
28.47
|
$
|
23.10
|
Total Return F,G,H
|
15.35 % |
32.45%
|
19.85%
|
(16.70)%
|
29.08%
|
41.73%
|
||||||
Ratios to Average Net Assets E,I,J
|
||||||||||||
Expenses before reductions
|
.18%
|
.24% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of fee waivers, if any
|
.18 % |
.24% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of all reductions, if any
|
.18%
|
.24% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Net investment income (loss)
|
.51%
|
.60% K,L
|
.71%
|
.52%
|
.47%
|
.74%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
3,687,451
|
$
|
2,686,905
|
$
|
2,368,445
|
$
|
1,625,632
|
$
|
1,784,746
|
$
|
1,417,537
|
Portfolio turnover rate M
|
60 % N |
58% L,N
|
108%
|
101%
|
84%
|
69%
|
Common Stocks - 99.6%
|
|||
Shares
|
Value ($)
|
||
BRAZIL - 0.1%
|
|||
Financials - 0.1%
|
|||
Capital Markets - 0.1%
|
|||
XP Inc Class A
|
117,211
|
2,367,662
|
|
IRELAND - 0.2%
|
|||
Information Technology - 0.2%
|
|||
IT Services - 0.2%
|
|||
Accenture PLC Class A
|
16,626
|
4,969,345
|
|
PUERTO RICO - 0.0%
|
|||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
Popular Inc
|
9,854
|
1,086,009
|
|
UNITED KINGDOM - 0.2%
|
|||
Energy - 0.2%
|
|||
Energy Equipment & Services - 0.2%
|
|||
TechnipFMC PLC
|
140,877
|
4,851,804
|
|
UNITED STATES - 99.1%
|
|||
Communication Services - 7.5%
|
|||
Diversified Telecommunication Services - 1.6%
|
|||
AT&T Inc
|
710,853
|
20,572,086
|
|
Verizon Communications Inc
|
372,211
|
16,105,570
|
|
36,677,656
|
|||
Entertainment - 2.1%
|
|||
Electronic Arts Inc
|
59,558
|
9,511,413
|
|
Netflix Inc (b)
|
3,909
|
5,234,659
|
|
Playtika Holding Corp
|
80,655
|
381,498
|
|
ROBLOX Corp Class A (b)
|
30,007
|
3,156,736
|
|
Walt Disney Co/The
|
252,547
|
31,318,354
|
|
49,602,660
|
|||
Interactive Media & Services - 2.5%
|
|||
Alphabet Inc Class A
|
169,650
|
29,897,420
|
|
Alphabet Inc Class C
|
69,000
|
12,239,910
|
|
Angi Inc Class A (b)(c)
|
60,782
|
927,533
|
|
Meta Platforms Inc Class A
|
16,469
|
12,155,604
|
|
55,220,467
|
|||
Media - 1.0%
|
|||
Comcast Corp Class A
|
526,197
|
18,779,971
|
|
DoubleVerify Holdings Inc (b)
|
27,160
|
406,585
|
|
News Corp Class A
|
47,351
|
1,407,272
|
|
News Corp Class B (c)
|
31,386
|
1,076,853
|
|
Sirius XM Holdings Inc (c)
|
83,369
|
1,914,986
|
|
23,585,667
|
|||
Wireless Telecommunication Services - 0.3%
|
|||
T-Mobile US Inc
|
33,940
|
8,086,544
|
|
TOTAL COMMUNICATION SERVICES
|
173,172,994
|
||
Consumer Discretionary - 7.8%
|
|||
Automobile Components - 0.1%
|
|||
BorgWarner Inc
|
81,781
|
2,738,028
|
|
Lear Corp
|
5,188
|
492,756
|
|
3,230,784
|
|||
Automobiles - 0.3%
|
|||
Ford Motor Co
|
597,752
|
6,485,609
|
|
Broadline Retail - 1.7%
|
|||
Amazon.com Inc (b)
|
160,031
|
35,109,201
|
|
eBay Inc
|
26,072
|
1,941,321
|
|
Macy's Inc (c)
|
117,001
|
1,364,232
|
|
38,414,754
|
|||
Diversified Consumer Services - 0.0%
|
|||
ADT Inc
|
159,388
|
1,350,016
|
|
Hotels, Restaurants & Leisure - 2.1%
|
|||
Airbnb Inc Class A (b)
|
6,172
|
816,802
|
|
Carnival Corp (b)
|
151,809
|
4,268,869
|
|
Darden Restaurants Inc
|
8,913
|
1,942,767
|
|
DoorDash Inc Class A (b)
|
35,081
|
8,647,817
|
|
Expedia Group Inc Class A
|
41,359
|
6,976,436
|
|
Global Business Travel Group I Class A (b)(c)
|
320,167
|
2,017,052
|
|
International Game Technology PLC
|
306,774
|
4,850,097
|
|
Life Time Group Holdings Inc (b)
|
115,574
|
3,505,359
|
|
Light & Wonder Inc Class A (b)(c)
|
37,893
|
3,647,580
|
|
McDonald's Corp
|
35,467
|
10,362,394
|
|
MGM Resorts International (b)
|
17,571
|
604,267
|
|
Yum! Brands Inc
|
11,388
|
1,687,474
|
|
49,326,914
|
|||
Household Durables - 0.8%
|
|||
DR Horton Inc
|
7,571
|
976,053
|
|
Garmin Ltd
|
24,010
|
5,011,367
|
|
Leggett & Platt Inc (c)
|
15,901
|
141,837
|
|
M/I Homes Inc (b)
|
14,283
|
1,601,410
|
|
Meritage Homes Corp
|
61,800
|
4,138,746
|
|
PulteGroup Inc
|
19,386
|
2,044,448
|
|
Toll Brothers Inc
|
31,331
|
3,575,807
|
|
17,489,668
|
|||
Specialty Retail - 2.5%
|
|||
Abercrombie & Fitch Co Class A (b)
|
41,146
|
3,408,946
|
|
AutoNation Inc (b)
|
1,872
|
371,873
|
|
Bath & Body Works Inc
|
192,638
|
5,771,434
|
|
Best Buy Co Inc
|
46,046
|
3,091,068
|
|
CarMax Inc (b)
|
27,933
|
1,877,377
|
|
Carvana Co Class A (b)
|
39,216
|
13,214,224
|
|
Chewy Inc Class A (b)
|
17,862
|
761,278
|
|
Dick's Sporting Goods Inc
|
965
|
190,887
|
|
Five Below Inc (b)
|
3,224
|
422,924
|
|
Gap Inc/The (c)
|
70,293
|
1,533,090
|
|
Home Depot Inc/The
|
49,534
|
18,161,147
|
|
Lowe's Cos Inc
|
16,442
|
3,647,987
|
|
TJX Cos Inc/The
|
24,245
|
2,994,015
|
|
Ulta Beauty Inc (b)
|
2,273
|
1,063,355
|
|
Urban Outfitters Inc (b)
|
10,036
|
728,011
|
|
Williams-Sonoma Inc
|
697
|
113,869
|
|
57,351,485
|
|||
Textiles, Apparel & Luxury Goods - 0.3%
|
|||
Carter's Inc
|
10,854
|
327,031
|
|
Ralph Lauren Corp Class A
|
10,186
|
2,793,816
|
|
Tapestry Inc
|
32,926
|
2,891,232
|
|
6,012,079
|
|||
TOTAL CONSUMER DISCRETIONARY
|
179,661,309
|
||
Consumer Staples - 6.1%
|
|||
Beverages - 0.8%
|
|||
Boston Beer Co Inc/The Class A (b)
|
4,788
|
913,598
|
|
Coca-Cola Co/The
|
40,386
|
2,857,310
|
|
Coca-Cola Consolidated Inc
|
3,246
|
362,416
|
|
Keurig Dr Pepper Inc
|
335,154
|
11,080,191
|
|
Molson Coors Beverage Co Class B (c)
|
22,518
|
1,082,891
|
|
Monster Beverage Corp (b)
|
2,337
|
146,389
|
|
PepsiCo Inc
|
8,864
|
1,170,403
|
|
17,613,198
|
|||
Consumer Staples Distribution & Retail - 1.8%
|
|||
BJ's Wholesale Club Holdings Inc (b)
|
3,009
|
324,460
|
|
Dollar General Corp
|
9,952
|
1,138,310
|
|
Dollar Tree Inc (b)
|
13,181
|
1,305,446
|
|
Target Corp
|
7,885
|
777,855
|
|
US Foods Holding Corp (b)
|
61,377
|
4,726,643
|
|
Walgreens Boots Alliance Inc
|
89,413
|
1,026,461
|
|
Walmart Inc
|
340,489
|
33,293,015
|
|
42,592,190
|
|||
Food Products - 0.5%
|
|||
Conagra Brands Inc
|
28,217
|
577,602
|
|
JM Smucker Co
|
28,912
|
2,839,158
|
|
Kraft Heinz Co/The
|
100
|
2,582
|
|
Mondelez International Inc
|
30,810
|
2,077,826
|
|
Post Holdings Inc (b)
|
3,509
|
382,586
|
|
Tyson Foods Inc Class A
|
108,745
|
6,083,196
|
|
11,962,950
|
|||
Household Products - 1.1%
|
|||
Church & Dwight Co Inc
|
1,679
|
161,368
|
|
Kimberly-Clark Corp
|
7,139
|
920,360
|
|
Procter & Gamble Co/The
|
158,958
|
25,325,189
|
|
26,406,917
|
|||
Personal Care Products - 0.1%
|
|||
Interparfums Inc
|
4,945
|
649,328
|
|
Kenvue Inc
|
35,930
|
752,015
|
|
1,401,343
|
|||
Tobacco - 1.8%
|
|||
Altria Group Inc
|
95,440
|
5,595,647
|
|
Philip Morris International Inc
|
197,895
|
36,042,617
|
|
41,638,264
|
|||
TOTAL CONSUMER STAPLES
|
141,614,862
|
||
Energy - 5.4%
|
|||
Oil, Gas & Consumable Fuels - 5.4%
|
|||
Antero Midstream Corp (c)
|
22,065
|
418,131
|
|
Cheniere Energy Inc
|
57,705
|
14,052,322
|
|
Chevron Corp
|
55,845
|
7,996,446
|
|
ConocoPhillips
|
164,523
|
14,764,294
|
|
Coterra Energy Inc
|
38,081
|
966,496
|
|
Devon Energy Corp
|
137,604
|
4,377,183
|
|
EOG Resources Inc (c)
|
138,050
|
16,512,161
|
|
Exxon Mobil Corp
|
348,853
|
37,606,353
|
|
Hess Corp
|
7,082
|
981,140
|
|
HF Sinclair Corp
|
20,665
|
848,918
|
|
Marathon Petroleum Corp
|
19,641
|
3,262,567
|
|
Occidental Petroleum Corp
|
122,419
|
5,142,822
|
|
Williams Cos Inc/The
|
294,313
|
18,485,800
|
|
125,414,633
|
|||
Financials - 22.5%
|
|||
Banks - 7.0%
|
|||
Ameris Bancorp
|
16,845
|
1,089,872
|
|
Associated Banc-Corp
|
6,689
|
163,145
|
|
Bank of America Corp
|
764,648
|
36,183,143
|
|
Flagstar Financial Inc (c)
|
22,500
|
238,500
|
|
Huntington Bancshares Inc/OH
|
296,123
|
4,963,021
|
|
JPMorgan Chase & Co
|
219,657
|
63,680,762
|
|
PNC Financial Services Group Inc/The
|
89,939
|
16,766,428
|
|
United Bankshares Inc/WV (c)
|
86,086
|
3,136,113
|
|
US Bancorp
|
218,635
|
9,893,234
|
|
Wells Fargo & Co
|
332,083
|
26,606,490
|
|
162,720,708
|
|||
Capital Markets - 5.8%
|
|||
Bank of New York Mellon Corp/The
|
129,020
|
11,755,012
|
|
Blackrock Inc
|
942
|
988,394
|
|
Cboe Global Markets Inc
|
19,002
|
4,431,456
|
|
Charles Schwab Corp/The
|
260,555
|
23,773,038
|
|
CME Group Inc Class A
|
63,319
|
17,451,983
|
|
Goldman Sachs Group Inc/The
|
21,383
|
15,133,818
|
|
Intercontinental Exchange Inc
|
107,859
|
19,788,891
|
|
Morgan Stanley
|
120,530
|
16,977,856
|
|
Morningstar Inc
|
3,726
|
1,169,703
|
|
Raymond James Financial Inc
|
31
|
4,754
|
|
S&P Global Inc
|
27,378
|
14,436,146
|
|
State Street Corp
|
31,384
|
3,337,375
|
|
T Rowe Price Group Inc
|
41,569
|
4,011,409
|
|
Tradeweb Markets Inc Class A
|
12
|
1,756
|
|
Virtu Financial Inc Class A
|
18,980
|
850,114
|
|
134,111,705
|
|||
Consumer Finance - 1.0%
|
|||
Ally Financial Inc
|
53,036
|
2,065,752
|
|
Capital One Financial Corp
|
53,701
|
11,425,425
|
|
FirstCash Holdings Inc
|
1,105
|
149,330
|
|
Synchrony Financial (c)
|
156,592
|
10,450,950
|
|
24,091,457
|
|||
Financial Services - 4.7%
|
|||
Berkshire Hathaway Inc Class B (b)
|
160,325
|
77,881,076
|
|
Euronet Worldwide Inc (b)
|
488
|
49,473
|
|
Fidelity National Information Services Inc
|
6,661
|
542,272
|
|
Fiserv Inc (b)
|
49,526
|
8,538,778
|
|
Global Payments Inc
|
16,502
|
1,320,820
|
|
Mastercard Inc Class A
|
5,617
|
3,156,417
|
|
MGIC Investment Corp
|
127,379
|
3,546,231
|
|
PayPal Holdings Inc (b)
|
186,839
|
13,885,874
|
|
108,920,941
|
|||
Insurance - 3.6%
|
|||
Allstate Corp/The
|
67,976
|
13,684,249
|
|
Cincinnati Financial Corp
|
36,921
|
5,498,275
|
|
Fidelity National Financial Inc/US
|
24
|
1,345
|
|
First American Financial Corp
|
15,622
|
959,035
|
|
Globe Life Inc
|
60,021
|
7,460,010
|
|
Hartford Insurance Group Inc/The
|
18,405
|
2,335,042
|
|
Kemper Corp
|
46,423
|
2,996,140
|
|
Loews Corp
|
6,569
|
602,115
|
|
Markel Group Inc (b)(c)
|
6,210
|
12,403,606
|
|
Marsh & McLennan Cos Inc
|
13,738
|
3,003,676
|
|
Mercury General Corp
|
7,174
|
483,097
|
|
MetLife Inc
|
23,077
|
1,855,852
|
|
Principal Financial Group Inc
|
48,527
|
3,854,500
|
|
Progressive Corp/The
|
30,790
|
8,216,619
|
|
Prudential Financial Inc
|
95,713
|
10,283,405
|
|
Travelers Companies Inc/The
|
37,044
|
9,910,752
|
|
83,547,718
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.4%
|
|||
Rithm Capital Corp
|
761,008
|
8,591,780
|
|
TOTAL FINANCIALS
|
521,984,309
|
||
Health Care - 13.0%
|
|||
Biotechnology - 2.2%
|
|||
AbbVie Inc
|
67,019
|
12,440,067
|
|
Biogen Inc (b)
|
57,284
|
7,194,298
|
|
Exelixis Inc (b)
|
40,709
|
1,794,248
|
|
Gilead Sciences Inc
|
182,618
|
20,246,858
|
|
Incyte Corp (b)
|
104,425
|
7,111,343
|
|
PTC Therapeutics Inc (b)
|
39,420
|
1,925,273
|
|
Regeneron Pharmaceuticals Inc
|
1,206
|
633,149
|
|
51,345,236
|
|||
Health Care Equipment & Supplies - 2.9%
|
|||
Abbott Laboratories (c)
|
93,713
|
12,745,905
|
|
Becton Dickinson & Co
|
89,639
|
15,440,318
|
|
Boston Scientific Corp (b)
|
210,574
|
22,617,753
|
|
DENTSPLY SIRONA Inc (c)
|
20,745
|
329,431
|
|
Edwards Lifesciences Corp (b)
|
23,002
|
1,798,986
|
|
Insulet Corp (b)
|
444
|
139,496
|
|
Solventum Corp (b)
|
19,690
|
1,493,290
|
|
STERIS PLC
|
25,282
|
6,073,242
|
|
Stryker Corp
|
18,605
|
7,360,696
|
|
67,999,117
|
|||
Health Care Providers & Services - 3.6%
|
|||
Cardinal Health Inc
|
71,191
|
11,960,088
|
|
Centene Corp (b)
|
96,426
|
5,234,003
|
|
Cigna Group/The
|
9,452
|
3,124,642
|
|
CVS Health Corp
|
122,931
|
8,479,780
|
|
Elevance Health Inc
|
24,741
|
9,623,259
|
|
Humana Inc
|
55,509
|
13,570,840
|
|
Labcorp Holdings Inc
|
14,992
|
3,935,550
|
|
Option Care Health Inc (b)
|
61,964
|
2,012,591
|
|
Tenet Healthcare Corp (b)
|
21,384
|
3,763,584
|
|
UnitedHealth Group Inc
|
62,266
|
19,425,125
|
|
81,129,462
|
|||
Health Care Technology - 0.3%
|
|||
Veeva Systems Inc Class A (b)
|
25,970
|
7,478,841
|
|
Life Sciences Tools & Services - 0.9%
|
|||
10X Genomics Inc Class A (b)
|
145,359
|
1,683,257
|
|
Agilent Technologies Inc
|
22,089
|
2,606,723
|
|
Charles River Laboratories International Inc (b)
|
4,231
|
641,970
|
|
Danaher Corp
|
29,774
|
5,881,556
|
|
Illumina Inc (b)(c)
|
30,561
|
2,915,825
|
|
QIAGEN NV (United States)
|
9,909
|
476,226
|
|
Thermo Fisher Scientific Inc
|
16,221
|
6,576,967
|
|
20,782,524
|
|||
Pharmaceuticals - 3.1%
|
|||
Bristol-Myers Squibb Co
|
265,473
|
12,288,745
|
|
Johnson & Johnson
|
185,868
|
28,391,337
|
|
Merck & Co Inc
|
116,372
|
9,212,008
|
|
Pfizer Inc
|
910,505
|
22,070,641
|
|
71,962,731
|
|||
TOTAL HEALTH CARE
|
300,697,911
|
||
Industrials - 13.9%
|
|||
Aerospace & Defense - 2.7%
|
|||
Curtiss-Wright Corp
|
11,329
|
5,534,783
|
|
GE Aerospace
|
49,874
|
12,837,069
|
|
General Dynamics Corp
|
31,629
|
9,224,914
|
|
HEICO Corp
|
10,182
|
3,339,696
|
|
Howmet Aerospace Inc
|
22,162
|
4,125,013
|
|
Huntington Ingalls Industries Inc
|
905
|
218,521
|
|
Lockheed Martin Corp
|
28,323
|
13,117,514
|
|
RTX Corp
|
35,345
|
5,161,077
|
|
Textron Inc
|
123,288
|
9,898,794
|
|
63,457,381
|
|||
Air Freight & Logistics - 0.4%
|
|||
CH Robinson Worldwide Inc
|
2
|
192
|
|
FedEx Corp
|
45,630
|
10,372,155
|
|
10,372,347
|
|||
Building Products - 1.6%
|
|||
A O Smith Corp
|
13,277
|
870,573
|
|
Allegion plc
|
70,759
|
10,197,787
|
|
Builders FirstSource Inc (b)
|
5,571
|
650,080
|
|
Johnson Controls International plc
|
123,747
|
13,070,158
|
|
Owens Corning
|
180
|
24,754
|
|
Trane Technologies PLC
|
29,167
|
12,757,937
|
|
37,571,289
|
|||
Commercial Services & Supplies - 0.6%
|
|||
Brink's Co/The
|
11,409
|
1,018,710
|
|
Cintas Corp
|
50,941
|
11,353,221
|
|
Republic Services Inc
|
3,270
|
806,415
|
|
Veralto Corp
|
7,578
|
764,999
|
|
Vestis Corp
|
97,398
|
558,090
|
|
14,501,435
|
|||
Construction & Engineering - 0.4%
|
|||
Arcosa Inc
|
2,136
|
185,212
|
|
EMCOR Group Inc
|
3,954
|
2,114,955
|
|
Valmont Industries Inc
|
24,210
|
7,906,260
|
|
10,206,427
|
|||
Electrical Equipment - 1.2%
|
|||
Acuity Inc
|
6,324
|
1,886,702
|
|
AMETEK Inc
|
37,189
|
6,729,721
|
|
Eaton Corp PLC
|
26,367
|
9,412,756
|
|
EnerSys
|
9,074
|
778,277
|
|
nVent Electric PLC
|
84,924
|
6,220,683
|
|
Sensata Technologies Holding PLC
|
94,008
|
2,830,581
|
|
27,858,720
|
|||
Ground Transportation - 1.8%
|
|||
CSX Corp
|
286,199
|
9,338,673
|
|
Lyft Inc Class A (b)
|
584,151
|
9,206,220
|
|
Uber Technologies Inc (b)
|
118,576
|
11,063,141
|
|
Union Pacific Corp
|
50,546
|
11,629,624
|
|
41,237,658
|
|||
Industrial Conglomerates - 0.7%
|
|||
3M Co
|
28,958
|
4,408,566
|
|
Honeywell International Inc
|
54,005
|
12,576,684
|
|
16,985,250
|
|||
Machinery - 3.0%
|
|||
Caterpillar Inc (c)
|
32,039
|
12,437,861
|
|
Cummins Inc
|
19,516
|
6,391,490
|
|
ESCO Technologies Inc
|
16,859
|
3,234,736
|
|
Federal Signal Corp
|
3,046
|
324,155
|
|
Flowserve Corp
|
160,095
|
8,380,973
|
|
Gates Industrial Corp PLC (b)
|
30,472
|
701,770
|
|
ITT Inc
|
30,754
|
4,823,150
|
|
Mueller Water Products Inc Class A1
|
97,216
|
2,337,073
|
|
Nordson Corp
|
12,305
|
2,637,823
|
|
Oshkosh Corp
|
55,933
|
6,350,633
|
|
PACCAR Inc
|
73,444
|
6,981,587
|
|
SPX Technologies Inc (b)
|
7,059
|
1,183,653
|
|
Westinghouse Air Brake Technologies Corp
|
45,781
|
9,584,252
|
|
Xylem Inc/NY
|
12,037
|
1,557,106
|
|
66,926,262
|
|||
Passenger Airlines - 0.3%
|
|||
SkyWest Inc (b)
|
62,700
|
6,456,219
|
|
Professional Services - 1.1%
|
|||
Automatic Data Processing Inc
|
7,401
|
2,282,468
|
|
Concentrix Corp
|
8,068
|
426,434
|
|
Dun & Bradstreet Holdings Inc
|
125,003
|
1,136,277
|
|
KBR Inc
|
15,657
|
750,597
|
|
Leidos Holdings Inc
|
80,263
|
12,662,291
|
|
Maximus Inc
|
39,628
|
2,781,886
|
|
SS&C Technologies Holdings Inc
|
56,750
|
4,698,900
|
|
24,738,853
|
|||
Trading Companies & Distributors - 0.1%
|
|||
Air Lease Corp Class A
|
3,687
|
215,653
|
|
Boise Cascade Co
|
7,450
|
646,809
|
|
Fastenal Co
|
774
|
32,507
|
|
Rush Enterprises Inc Class A
|
19,459
|
1,002,333
|
|
1,897,302
|
|||
TOTAL INDUSTRIALS
|
322,209,143
|
||
Information Technology - 10.5%
|
|||
Communications Equipment - 1.5%
|
|||
Cisco Systems Inc
|
407,753
|
28,289,903
|
|
Extreme Networks Inc (b)
|
41,018
|
736,273
|
|
Motorola Solutions Inc
|
14,746
|
6,200,103
|
|
35,226,279
|
|||
Electronic Equipment, Instruments & Components - 0.2%
|
|||
Amphenol Corp Class A
|
11,749
|
1,160,214
|
|
Itron Inc (b)
|
34,813
|
4,582,435
|
|
5,742,649
|
|||
IT Services - 1.3%
|
|||
Cognizant Technology Solutions Corp Class A
|
28,308
|
2,208,873
|
|
EPAM Systems Inc (b)
|
8,098
|
1,431,888
|
|
IBM Corporation
|
76,336
|
22,502,326
|
|
Kyndryl Holdings Inc (b)
|
74,761
|
3,136,972
|
|
MongoDB Inc Class A (b)
|
3,306
|
694,227
|
|
29,974,286
|
|||
Semiconductors & Semiconductor Equipment - 4.4%
|
|||
Advanced Micro Devices Inc (b)
|
58,986
|
8,370,113
|
|
Analog Devices Inc
|
65,040
|
15,480,822
|
|
Applied Materials Inc
|
46,694
|
8,548,271
|
|
Broadcom Inc
|
43,758
|
12,061,893
|
|
Cirrus Logic Inc (b)(c)
|
61,875
|
6,450,778
|
|
Credo Technology Group Holding Ltd (b)
|
17,087
|
1,582,085
|
|
Intel Corp
|
730,891
|
16,371,959
|
|
Marvell Technology Inc
|
39,631
|
3,067,439
|
|
Micron Technology Inc
|
20,714
|
2,553,001
|
|
Qorvo Inc (b)(c)
|
66,363
|
5,634,882
|
|
QUALCOMM Inc
|
83,090
|
13,232,913
|
|
Skyworks Solutions Inc
|
32,386
|
2,413,405
|
|
Texas Instruments Inc
|
27,586
|
5,727,405
|
|
101,494,966
|
|||
Software - 2.5%
|
|||
Adobe Inc (b)
|
29,563
|
11,437,333
|
|
Alarm.com Holdings Inc (b)
|
75,285
|
4,258,872
|
|
ANSYS Inc (b)
|
751
|
263,766
|
|
Autodesk Inc (b)
|
7,023
|
2,174,110
|
|
Dropbox Inc Class A (b)
|
139,496
|
3,989,586
|
|
Dynatrace Inc (b)
|
462
|
25,507
|
|
RingCentral Inc Class A (b)
|
49,779
|
1,411,235
|
|
Salesforce Inc
|
79,197
|
21,596,231
|
|
Tenable Holdings Inc (b)
|
92,636
|
3,129,244
|
|
Teradata Corp (b)
|
125,715
|
2,804,702
|
|
Unity Software Inc (b)
|
4,576
|
110,739
|
|
Zoom Communications Inc Class A (b)
|
75,276
|
5,870,022
|
|
57,071,347
|
|||
Technology Hardware, Storage & Peripherals - 0.6%
|
|||
Apple Inc
|
1,467
|
300,984
|
|
Hewlett Packard Enterprise Co
|
65
|
1,329
|
|
NetApp Inc (c)
|
32,107
|
3,421,001
|
|
Western Digital Corp
|
159,228
|
10,189,000
|
|
13,912,314
|
|||
TOTAL INFORMATION TECHNOLOGY
|
243,421,841
|
||
Materials - 5.0%
|
|||
Chemicals - 2.5%
|
|||
Ashland Inc
|
2,878
|
144,706
|
|
Axalta Coating Systems Ltd (b)
|
49,638
|
1,473,752
|
|
Balchem Corp
|
26,308
|
4,188,234
|
|
CF Industries Holdings Inc
|
13,204
|
1,214,768
|
|
Corteva Inc
|
59,991
|
4,471,129
|
|
DuPont de Nemours Inc
|
139,244
|
9,550,746
|
|
Ecolab Inc
|
46,446
|
12,514,410
|
|
FMC Corp (c)
|
43,827
|
1,829,777
|
|
International Flavors & Fragrances Inc
|
104,962
|
7,719,955
|
|
Linde PLC
|
25,532
|
11,979,104
|
|
PPG Industries Inc
|
7,401
|
841,864
|
|
Scotts Miracle-Gro Co/The
|
15,832
|
1,044,279
|
|
56,972,724
|
|||
Construction Materials - 1.2%
|
|||
CRH PLC
|
156,169
|
14,336,314
|
|
Vulcan Materials Co
|
48,356
|
12,612,212
|
|
26,948,526
|
|||
Containers & Packaging - 0.3%
|
|||
Amcor PLC
|
501,595
|
4,609,658
|
|
AptarGroup Inc
|
2,481
|
388,103
|
|
Ball Corp
|
17,411
|
976,583
|
|
Crown Holdings Inc
|
18,614
|
1,916,870
|
|
Sonoco Products Co
|
3
|
130
|
|
7,891,344
|
|||
Metals & Mining - 1.0%
|
|||
Coeur Mining Inc (b)
|
19,601
|
173,664
|
|
Commercial Metals Co
|
23,105
|
1,130,066
|
|
Hecla Mining Co
|
128,493
|
769,673
|
|
Newmont Corp
|
186,145
|
10,844,808
|
|
Nucor Corp
|
53,020
|
6,868,211
|
|
Steel Dynamics Inc
|
28,312
|
3,624,219
|
|
23,410,641
|
|||
Paper & Forest Products - 0.0%
|
|||
Magnera Corp (b)
|
26,470
|
319,758
|
|
TOTAL MATERIALS
|
115,542,993
|
||
Real Estate - 3.7%
|
|||
Diversified REITs - 0.0%
|
|||
WP Carey Inc
|
11,334
|
707,015
|
|
Health Care REITs - 0.8%
|
|||
CareTrust REIT Inc
|
187,972
|
5,751,943
|
|
Healthpeak Properties Inc
|
244,280
|
4,277,343
|
|
Ventas Inc
|
67,325
|
4,251,574
|
|
Welltower Inc
|
26,318
|
4,045,866
|
|
18,326,726
|
|||
Industrial REITs - 0.3%
|
|||
First Industrial Realty Trust Inc
|
54,985
|
2,646,428
|
|
STAG Industrial Inc Class A
|
100,445
|
3,644,145
|
|
6,290,573
|
|||
Real Estate Management & Development - 0.0%
|
|||
Compass Inc Class A (b)
|
2,424
|
15,222
|
|
Newmark Group Inc Class A
|
47,312
|
574,841
|
|
590,063
|
|||
Residential REITs - 0.3%
|
|||
American Homes 4 Rent Class A
|
63,754
|
2,299,607
|
|
Camden Property Trust
|
6,984
|
787,027
|
|
Equity Residential
|
60,727
|
4,098,465
|
|
Invitation Homes Inc
|
20,144
|
660,723
|
|
7,845,822
|
|||
Retail REITs - 0.5%
|
|||
Brixmor Property Group Inc
|
147,562
|
3,842,514
|
|
Phillips Edison & Co Inc
|
111,655
|
3,911,276
|
|
Realty Income Corp
|
31,668
|
1,824,393
|
|
Regency Centers Corp
|
39,862
|
2,839,370
|
|
12,417,553
|
|||
Specialized REITs - 1.8%
|
|||
American Tower Corp
|
20,647
|
4,563,400
|
|
Crown Castle Inc
|
7,153
|
734,828
|
|
Digital Realty Trust Inc
|
57,246
|
9,979,695
|
|
Equinix Inc
|
17,846
|
14,195,958
|
|
Extra Space Storage Inc
|
28,457
|
4,195,700
|
|
Gaming and Leisure Properties Inc
|
89,351
|
4,170,905
|
|
Lamar Advertising Co Class A
|
2,845
|
345,268
|
|
VICI Properties Inc
|
65,345
|
2,130,247
|
|
40,316,001
|
|||
TOTAL REAL ESTATE
|
86,493,753
|
||
Utilities - 3.7%
|
|||
Electric Utilities - 2.4%
|
|||
ALLETE Inc
|
25,425
|
1,628,980
|
|
American Electric Power Co Inc
|
8,579
|
890,157
|
|
Duke Energy Corp
|
20,362
|
2,402,716
|
|
Edison International
|
76,960
|
3,971,136
|
|
Evergy Inc
|
49,670
|
3,423,753
|
|
Exelon Corp
|
231,876
|
10,068,056
|
|
NextEra Energy Inc
|
215,710
|
14,974,588
|
|
OGE Energy Corp
|
54,008
|
2,396,875
|
|
PG&E Corp
|
393,602
|
5,486,812
|
|
Southern Co/The
|
104,370
|
9,584,297
|
|
54,827,370
|
|||
Gas Utilities - 0.2%
|
|||
MDU Resources Group Inc
|
212,454
|
3,541,608
|
|
Southwest Gas Holdings Inc
|
24,830
|
1,847,104
|
|
5,388,712
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
AES Corp/The
|
200,576
|
2,110,060
|
|
Multi-Utilities - 1.0%
|
|||
Avista Corp
|
7,588
|
287,964
|
|
Black Hills Corp
|
54,298
|
3,046,118
|
|
CenterPoint Energy Inc
|
13,138
|
482,690
|
|
CMS Energy Corp
|
38,834
|
2,690,420
|
|
Consolidated Edison Inc
|
26,411
|
2,650,344
|
|
DTE Energy Co
|
33,110
|
4,385,751
|
|
NiSource Inc
|
74,461
|
3,003,757
|
|
Public Service Enterprise Group Inc
|
16
|
1,346
|
|
Sempra
|
86,913
|
6,585,398
|
|
23,133,788
|
|||
TOTAL UTILITIES
|
85,459,930
|
||
TOTAL UNITED STATES
|
2,295,673,678
|
||
TOTAL COMMON STOCKS
(Cost $2,076,968,118)
|
2,308,948,498
|
||
U.S. Treasury Obligations - 0.3%
|
||||
Yield (%) (d)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 7/10/2025
|
4.25
|
170,000
|
169,822
|
|
US Treasury Bills 0% 7/17/2025
|
4.26
|
1,120,000
|
1,117,939
|
|
US Treasury Bills 0% 7/24/2025
|
4.24 to 4.25
|
160,000
|
159,574
|
|
US Treasury Bills 0% 7/31/2025
|
4.24
|
220,000
|
219,236
|
|
US Treasury Bills 0% 8/21/2025
|
4.28
|
250,000
|
248,471
|
|
US Treasury Bills 0% 9/25/2025 (e)
|
4.23
|
3,810,000
|
3,771,864
|
|
US Treasury Bills 0% 9/4/2025
|
4.28 to 4.29
|
150,000
|
148,846
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $5,835,769)
|
5,835,752
|
|||
Money Market Funds - 0.8%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (f)
|
4.32
|
996,390
|
996,590
|
|
Fidelity Securities Lending Cash Central Fund (f)(g)
|
4.32
|
17,624,521
|
17,626,283
|
|
TOTAL MONEY MARKET FUNDS
(Cost $18,622,873)
|
18,622,873
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.7%
(Cost $2,101,426,760)
|
2,333,407,123
|
NET OTHER ASSETS (LIABILITIES) - (0.7)%
|
(15,577,759)
|
NET ASSETS - 100.0%
|
2,317,829,364
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME S&P 500 Index Contracts (United States)
|
2
|
Sep 2025
|
625,375
|
23,421
|
23,421
|
The notional amount of futures purchased as a percentage of Net Assets is 0.0%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing
|
(c)
|
Security or a portion of the security is on loan at period end.
|
(d)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(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 $163,349.
|
(f)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(g)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
43,118,597
|
428,728,863
|
470,850,870
|
963,423
|
-
|
-
|
996,590
|
996,390
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
9,990,301
|
367,484,221
|
359,848,239
|
6,740
|
-
|
-
|
17,626,283
|
17,624,521
|
0.1%
|
Total
|
53,108,898
|
796,213,084
|
830,699,109
|
970,163
|
-
|
-
|
18,622,873
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
173,172,994
|
173,172,994
|
-
|
-
|
Consumer Discretionary
|
179,661,309
|
179,661,309
|
-
|
-
|
Consumer Staples
|
141,614,862
|
141,614,862
|
-
|
-
|
Energy
|
130,266,437
|
130,266,437
|
-
|
-
|
Financials
|
525,437,980
|
525,437,980
|
-
|
-
|
Health Care
|
300,697,911
|
300,697,911
|
-
|
-
|
Industrials
|
322,209,143
|
322,209,143
|
-
|
-
|
Information Technology
|
248,391,186
|
248,391,186
|
-
|
-
|
Materials
|
115,542,993
|
115,542,993
|
-
|
-
|
Real Estate
|
86,493,753
|
86,493,753
|
-
|
-
|
Utilities
|
85,459,930
|
85,459,930
|
-
|
-
|
U.S. Treasury Obligations
|
5,835,752
|
-
|
5,835,752
|
-
|
Money Market Funds
|
18,622,873
|
18,622,873
|
-
|
-
|
Total Investments in Securities:
|
2,333,407,123
|
2,327,571,371
|
5,835,752
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
23,421
|
23,421
|
-
|
-
|
Total Assets
|
23,421
|
23,421
|
-
|
-
|
Total Derivative Instruments:
|
23,421
|
23,421
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
23,421
|
0
|
Total Equity Risk
|
23,421
|
0
|
Total Value of Derivatives
|
23,421
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $17,261,104) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $2,082,803,887)
|
$
|
2,314,784,250
|
||
Fidelity Central Funds (cost $18,622,873)
|
18,622,873
|
|||
Total Investment in Securities (cost $2,101,426,760)
|
$
|
2,333,407,123
|
||
Cash
|
1,379,854
|
|||
Dividends receivable
|
2,262,838
|
|||
Distributions receivable from Fidelity Central Funds
|
84,424
|
|||
Receivable for daily variation margin on futures contracts
|
10,239
|
|||
Other receivables
|
9,835
|
|||
Total assets
|
2,337,154,313
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
1,359,780
|
||
Accrued management fee
|
341,887
|
|||
Collateral on securities loaned
|
17,623,282
|
|||
Total liabilities
|
19,324,949
|
|||
Net Assets
|
$
|
2,317,829,364
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
2,179,018,421
|
||
Total accumulated earnings (loss)
|
138,810,943
|
|||
Net Assets
|
$
|
2,317,829,364
|
||
Net Asset Value, offering price and redemption price per share ($2,317,829,364 ÷ 72,878,976 shares)
|
$
|
31.80
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
40,471,842
|
||
Interest
|
107,390
|
|||
Income from Fidelity Central Funds (including $6,740 from security lending)
|
970,163
|
|||
Total income
|
41,549,395
|
|||
Expenses
|
||||
Management fee
|
$
|
3,713,212
|
||
Independent trustees' fees and expenses
|
8,174
|
|||
Interest
|
-
|
|||
Miscellaneous
|
-
|
|||
Total expenses before reductions
|
3,721,386
|
|||
Expense reductions
|
(1,478)
|
|||
Total expenses after reductions
|
3,719,908
|
|||
Net Investment income (loss)
|
37,829,487
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(27,510,343)
|
|||
Redemptions in-kind
|
161,857,172
|
|||
Fidelity Central Funds
|
-
|
|||
Foreign currency transactions
|
869
|
|||
Futures contracts
|
453,828
|
|||
Total net realized gain (loss)
|
134,801,526
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
82,779,857
|
|||
Assets and liabilities in foreign currencies
|
(889)
|
|||
Futures contracts
|
(2,993)
|
|||
Total change in net unrealized appreciation (depreciation)
|
82,775,975
|
|||
Net gain (loss)
|
217,577,501
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
255,406,988
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Ten months ended
June 30, 2024
|
Year ended
August 31, 2023
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
37,829,487
|
$
|
38,826,940
|
$
|
104,218,377
|
Net realized gain (loss)
|
134,801,526
|
453,402,154
|
209,018,224
|
|||
Change in net unrealized appreciation (depreciation)
|
82,775,975
|
(574,650,497)
|
130,413,938
|
|||
Net increase (decrease) in net assets resulting from operations
|
255,406,988
|
(82,421,403)
|
443,650,539
|
|||
Distributions to shareholders
|
(38,336,716)
|
(175,458,721)
|
(257,200,574)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
1,092,508,805
|
996,838,223
|
817,757,697
|
|||
Reinvestment of distributions
|
-
|
143,727,046
|
243,302,994
|
|||
Cost of shares redeemed
|
(784,266,648)
|
(4,621,932,538)
|
(1,407,138,550)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
308,242,157
|
(3,481,367,269)
|
(346,077,859)
|
|||
Total increase (decrease) in net assets
|
525,312,429
|
(3,739,247,393)
|
(159,627,894)
|
|||
Net Assets
|
||||||
Beginning of period
|
1,792,516,935
|
5,531,764,328
|
5,691,392,222
|
|||
End of period
|
$
|
2,317,829,364
|
$
|
1,792,516,935
|
$
|
5,531,764,328
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
35,500,000
|
38,559,161
|
32,117,183
|
|||
Issued in reinvestment of distributions
|
-
|
5,858,095
|
9,686,875
|
|||
Redeemed
|
(25,400,000)
|
(192,077,486)
|
(55,489,324)
|
|||
Net increase (decrease)
|
10,100,000
|
(147,660,230)
|
(13,685,266)
|
|||
Fidelity® Enhanced Large Cap Value ETF |
Years ended June 30,
|
2025
|
2024 A
|
2023 B,C
|
2022 B,C
|
2021 B,C
|
2020 B,C
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
28.55
|
$
|
26.29
|
$
|
25.40
|
$
|
30.16
|
$
|
22.04
|
$
|
22.36
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) D,E
|
.56
|
.40
|
.47
|
.49
|
.44
|
.49
|
||||||
Net realized and unrealized gain (loss)
|
3.26
|
2.99
|
1.59
|
(1.81)
|
8.08
|
-
|
||||||
Total from investment operations
|
3.82
|
3.39
|
2.06
|
(1.32)
|
8.52
|
.49
|
||||||
Distributions from net investment income
|
(.57)
|
(.80)
|
(.38)
|
(.58)
|
(.40)
|
(.51)
|
||||||
Distributions from net realized gain
|
-
|
(.33)
|
(.79)
|
(2.86)
|
-
|
(.30)
|
||||||
Total distributions
|
(.57)
|
(1.13)
|
(1.17)
|
(3.44)
|
(.40)
|
(.81)
|
||||||
Net asset value, end of period
|
$
|
31.80
|
$
|
28.55
|
$
|
26.29
|
$
|
25.40
|
$
|
30.16
|
$
|
22.04
|
Total Return F,G,H
|
13.49 % |
13.49%
|
8.30%
|
(5.18)%
|
39.12%
|
1.95%
|
||||||
Ratios to Average Net Assets E,I,J
|
||||||||||||
Expenses before reductions
|
.18%
|
.28% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of fee waivers, if any
|
.18 % |
.28% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Expenses net of all reductions, if any
|
.18%
|
.28% K,L
|
.39%
|
.39%
|
.39%
|
.39%
|
||||||
Net investment income (loss)
|
1.83%
|
1.82% K,L
|
1.88%
|
1.76%
|
1.65%
|
2.21%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
2,317,829
|
$
|
1,792,517
|
$
|
5,531,764
|
$
|
5,691,392
|
$
|
6,187,508
|
$
|
3,887,139
|
Portfolio turnover rate M
|
69 % N |
90% L,N
|
88%
|
112%
|
75%
|
81%
|
Common Stocks - 99.1%
|
|||
Shares
|
Value ($)
|
||
BRAZIL - 0.1%
|
|||
Financials - 0.1%
|
|||
Capital Markets - 0.1%
|
|||
XP Inc Class A
|
92,502
|
1,868,540
|
|
CANADA - 0.1%
|
|||
Utilities - 0.1%
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
Brookfield Renewable Corp Class A (United States) (b)
|
50,487
|
1,654,964
|
|
KOREA (SOUTH) - 0.7%
|
|||
Consumer Discretionary - 0.7%
|
|||
Broadline Retail - 0.7%
|
|||
Coupang Inc Class A (c)
|
677,144
|
20,287,234
|
|
PUERTO RICO - 0.0%
|
|||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
Popular Inc
|
4,139
|
456,159
|
|
UNITED KINGDOM - 0.3%
|
|||
Energy - 0.3%
|
|||
Energy Equipment & Services - 0.3%
|
|||
TechnipFMC PLC
|
213,547
|
7,354,559
|
|
UNITED STATES - 97.9%
|
|||
Communication Services - 4.0%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
AST SpaceMobile Inc Class A (c)
|
12,577
|
587,722
|
|
Entertainment - 2.2%
|
|||
Electronic Arts Inc
|
145,320
|
23,207,604
|
|
Live Nation Entertainment Inc (c)
|
44,659
|
6,756,014
|
|
Playtika Holding Corp
|
493,307
|
2,333,342
|
|
ROBLOX Corp Class A (c)
|
274,077
|
28,832,900
|
|
Warner Bros Discovery Inc (c)
|
295
|
3,381
|
|
61,133,241
|
|||
Interactive Media & Services - 0.4%
|
|||
Angi Inc Class A (b)(c)
|
98,674
|
1,505,765
|
|
IAC Inc Class A (c)
|
93,216
|
3,480,685
|
|
Pinterest Inc Class A (c)
|
212,149
|
7,607,664
|
|
12,594,114
|
|||
Media - 1.4%
|
|||
Fox Corp Class A
|
21,878
|
1,226,043
|
|
Fox Corp Class B
|
4,728
|
244,107
|
|
New York Times Co/The Class A
|
304,731
|
17,058,841
|
|
News Corp Class A
|
255,178
|
7,583,890
|
|
News Corp Class B (b)
|
207,725
|
7,127,045
|
|
Sirius XM Holdings Inc (b)
|
304,882
|
7,003,140
|
|
40,243,066
|
|||
TOTAL COMMUNICATION SERVICES
|
114,558,143
|
||
Consumer Discretionary - 12.7%
|
|||
Automobile Components - 0.1%
|
|||
BorgWarner Inc
|
46,510
|
1,557,155
|
|
Automobiles - 0.0%
|
|||
Harley-Davidson Inc
|
12
|
282
|
|
Broadline Retail - 0.4%
|
|||
eBay Inc
|
130,508
|
9,717,626
|
|
Etsy Inc (c)
|
4,694
|
235,451
|
|
Macy's Inc
|
71,394
|
832,454
|
|
10,785,531
|
|||
Diversified Consumer Services - 0.8%
|
|||
ADT Inc
|
498,509
|
4,222,371
|
|
Duolingo Inc Class A (c)
|
43,628
|
17,888,353
|
|
22,110,724
|
|||
Hotels, Restaurants & Leisure - 3.7%
|
|||
Airbnb Inc Class A (c)
|
44
|
5,823
|
|
Carnival Corp (c)
|
835,922
|
23,506,128
|
|
Darden Restaurants Inc
|
41,196
|
8,979,492
|
|
DoorDash Inc Class A (c)
|
44,021
|
10,851,617
|
|
DraftKings Inc Class A (c)
|
194,274
|
8,332,412
|
|
Dutch Bros Inc Class A (c)
|
17,897
|
1,223,618
|
|
Expedia Group Inc Class A
|
112,569
|
18,988,139
|
|
Hilton Worldwide Holdings Inc
|
4,301
|
1,145,528
|
|
International Game Technology PLC
|
425,940
|
6,734,111
|
|
Las Vegas Sands Corp
|
15,875
|
690,721
|
|
Life Time Group Holdings Inc (c)
|
77,453
|
2,349,149
|
|
Light & Wonder Inc Class A (c)
|
33,473
|
3,222,111
|
|
MGM Resorts International (c)
|
332,323
|
11,428,588
|
|
Planet Fitness Inc Class A (c)
|
10,547
|
1,150,150
|
|
Royal Caribbean Cruises Ltd
|
12,168
|
3,810,288
|
|
Travel + Leisure Co
|
4,466
|
230,490
|
|
Wendy's Co/The
|
7,169
|
81,870
|
|
Yum! Brands Inc
|
17,828
|
2,641,753
|
|
105,371,988
|
|||
Household Durables - 2.4%
|
|||
DR Horton Inc
|
38,242
|
4,930,158
|
|
Garmin Ltd
|
99,959
|
20,863,442
|
|
Lennar Corp Class A
|
64,552
|
7,140,097
|
|
Lennar Corp Class B (b)
|
1,208
|
127,142
|
|
NVR Inc (c)
|
698
|
5,155,191
|
|
PulteGroup Inc
|
80,376
|
8,476,453
|
|
Toll Brothers Inc
|
90,344
|
10,310,961
|
|
TopBuild Corp (c)
|
38,505
|
12,465,609
|
|
69,469,053
|
|||
Specialty Retail - 4.1%
|
|||
Abercrombie & Fitch Co Class A (c)
|
48,764
|
4,040,097
|
|
Bath & Body Works Inc
|
155,490
|
4,658,480
|
|
Best Buy Co Inc (b)
|
248,209
|
16,662,270
|
|
Carvana Co Class A (c)
|
73,827
|
24,876,746
|
|
Chewy Inc Class A (c)
|
352,063
|
15,004,925
|
|
Dick's Sporting Goods Inc
|
23,338
|
4,616,490
|
|
Five Below Inc (c)
|
6,848
|
898,321
|
|
GameStop Corp Class A (b)(c)
|
41,211
|
1,005,136
|
|
Gap Inc/The
|
686,361
|
14,969,533
|
|
Lithia Motors Inc Class A
|
2,997
|
1,012,447
|
|
Ross Stores Inc
|
7,105
|
906,456
|
|
Ulta Beauty Inc (c)
|
40,890
|
19,129,160
|
|
Williams-Sonoma Inc
|
49,353
|
8,062,800
|
|
115,842,861
|
|||
Textiles, Apparel & Luxury Goods - 1.2%
|
|||
Ralph Lauren Corp Class A
|
55,224
|
15,146,839
|
|
Tapestry Inc
|
225,541
|
19,804,755
|
|
34,951,594
|
|||
TOTAL CONSUMER DISCRETIONARY
|
360,089,188
|
||
Consumer Staples - 3.1%
|
|||
Beverages - 0.4%
|
|||
Boston Beer Co Inc/The Class A (c)
|
23,884
|
4,557,306
|
|
Coca-Cola Consolidated Inc (b)
|
36,746
|
4,102,691
|
|
Molson Coors Beverage Co Class B
|
28,546
|
1,372,777
|
|
10,032,774
|
|||
Consumer Staples Distribution & Retail - 1.6%
|
|||
BJ's Wholesale Club Holdings Inc (c)
|
117,047
|
12,621,178
|
|
Casey's General Stores Inc
|
6,400
|
3,265,728
|
|
Dollar General Corp
|
14,332
|
1,639,294
|
|
Dollar Tree Inc (c)
|
21,772
|
2,156,299
|
|
Maplebear Inc (c)
|
349,593
|
15,815,588
|
|
US Foods Holding Corp (c)
|
132,176
|
10,178,874
|
|
Walgreens Boots Alliance Inc
|
5,255
|
60,327
|
|
45,737,288
|
|||
Food Products - 0.9%
|
|||
Cal-Maine Foods Inc
|
4,316
|
430,003
|
|
Conagra Brands Inc
|
7,064
|
144,600
|
|
General Mills Inc
|
38,757
|
2,008,000
|
|
Hershey Co/The
|
14,083
|
2,337,074
|
|
Ingredion Inc
|
30,447
|
4,129,222
|
|
JM Smucker Co
|
20,444
|
2,007,601
|
|
Kellanova
|
15,100
|
1,200,903
|
|
Pilgrim's Pride Corp
|
66,694
|
2,999,896
|
|
Post Holdings Inc (c)
|
3,941
|
429,687
|
|
Tyson Foods Inc Class A
|
178,486
|
9,984,507
|
|
25,671,493
|
|||
Household Products - 0.0%
|
|||
Clorox Co/The
|
2,978
|
357,568
|
|
Personal Care Products - 0.2%
|
|||
Kenvue Inc
|
335,273
|
7,017,264
|
|
TOTAL CONSUMER STAPLES
|
88,816,387
|
||
Energy - 4.3%
|
|||
Energy Equipment & Services - 0.0%
|
|||
Halliburton Co
|
74,329
|
1,514,825
|
|
Oil, Gas & Consumable Fuels - 4.3%
|
|||
Antero Midstream Corp
|
126,488
|
2,396,948
|
|
Cheniere Energy Inc
|
110,317
|
26,864,396
|
|
Civitas Resources Inc
|
79,525
|
2,188,528
|
|
ConocoPhillips
|
140,696
|
12,626,059
|
|
Coterra Energy Inc
|
36,522
|
926,928
|
|
Devon Energy Corp
|
159,384
|
5,070,005
|
|
EOG Resources Inc
|
38,514
|
4,606,660
|
|
EQT Corp
|
53,010
|
3,091,543
|
|
Hess Corp
|
43,378
|
6,009,588
|
|
HF Sinclair Corp
|
163,415
|
6,713,088
|
|
Kinder Morgan Inc
|
804,251
|
23,644,979
|
|
Marathon Petroleum Corp
|
43,786
|
7,273,292
|
|
Matador Resources Co
|
15
|
716
|
|
Targa Resources Corp
|
9,763
|
1,699,543
|
|
Texas Pacific Land Corp
|
2,902
|
3,065,644
|
|
Williams Cos Inc/The
|
243,395
|
15,287,640
|
|
121,465,557
|
|||
TOTAL ENERGY
|
122,980,382
|
||
Financials - 16.7%
|
|||
Banks - 1.5%
|
|||
Citizens Financial Group Inc
|
39
|
1,745
|
|
Commerce Bancshares Inc/MO
|
93,054
|
5,785,167
|
|
Cullen/Frost Bankers Inc
|
2,951
|
379,322
|
|
Fifth Third Bancorp
|
17,440
|
717,307
|
|
Huntington Bancshares Inc/OH
|
656,698
|
11,006,258
|
|
KeyCorp
|
220,801
|
3,846,353
|
|
M&T Bank Corp
|
44
|
8,536
|
|
PNC Financial Services Group Inc/The
|
54,942
|
10,242,288
|
|
Prosperity Bancshares Inc
|
27,182
|
1,909,264
|
|
Zions Bancorp NA
|
153,663
|
7,981,256
|
|
41,877,496
|
|||
Capital Markets - 6.4%
|
|||
Ameriprise Financial Inc
|
19,740
|
10,535,830
|
|
Bank of New York Mellon Corp/The
|
320,245
|
29,177,522
|
|
Cboe Global Markets Inc
|
81,806
|
19,077,977
|
|
Coinbase Global Inc Class A (c)
|
15,616
|
5,473,252
|
|
Janus Henderson Group PLC
|
5,752
|
223,408
|
|
LPL Financial Holdings Inc
|
6,577
|
2,466,178
|
|
Morningstar Inc
|
33,262
|
10,441,940
|
|
MSCI Inc
|
42,426
|
24,468,771
|
|
Nasdaq Inc
|
116,206
|
10,391,141
|
|
Northern Trust Corp
|
22,313
|
2,829,065
|
|
Raymond James Financial Inc
|
120,260
|
18,444,276
|
|
Robinhood Markets Inc Class A (c)
|
7,413
|
694,079
|
|
State Street Corp
|
165,686
|
17,619,049
|
|
Stifel Financial Corp
|
67,592
|
7,014,698
|
|
Tradeweb Markets Inc Class A
|
125,324
|
18,347,434
|
|
Virtu Financial Inc Class A
|
30,993
|
1,388,176
|
|
178,592,796
|
|||
Consumer Finance - 1.5%
|
|||
Ally Financial Inc
|
443,248
|
17,264,510
|
|
Capital One Financial Corp
|
35,424
|
7,536,810
|
|
SoFi Technologies Inc Class A (c)
|
247,922
|
4,514,660
|
|
Synchrony Financial
|
205,492
|
13,714,536
|
|
43,030,516
|
|||
Financial Services - 2.7%
|
|||
Affirm Holdings Inc Class A (c)
|
22,671
|
1,567,473
|
|
Block Inc Class A (c)
|
152,435
|
10,354,910
|
|
Equitable Holdings Inc
|
79,934
|
4,484,297
|
|
Euronet Worldwide Inc (c)
|
115,247
|
11,683,741
|
|
Fidelity National Information Services Inc
|
180,879
|
14,725,359
|
|
Global Payments Inc
|
130,006
|
10,405,680
|
|
MGIC Investment Corp
|
111,714
|
3,110,118
|
|
PayPal Holdings Inc (c)
|
82,161
|
6,106,206
|
|
Toast Inc Class A (c)
|
334,110
|
14,797,732
|
|
77,235,516
|
|||
Insurance - 4.1%
|
|||
Allstate Corp/The
|
127,416
|
25,650,115
|
|
American Financial Group Inc/OH
|
4,255
|
537,024
|
|
Assurant Inc
|
65,767
|
12,988,325
|
|
Cincinnati Financial Corp
|
125,223
|
18,648,209
|
|
First American Financial Corp
|
21,725
|
1,333,698
|
|
Globe Life Inc
|
120,929
|
15,030,265
|
|
Hanover Insurance Group Inc/The
|
795
|
135,046
|
|
Kemper Corp
|
5,257
|
339,286
|
|
Markel Group Inc (c)
|
10,244
|
20,460,956
|
|
Prudential Financial Inc
|
91,268
|
9,805,834
|
|
Reinsurance Group of America Inc
|
25,774
|
5,112,531
|
|
W R Berkley Corp
|
29,089
|
2,137,169
|
|
Willis Towers Watson PLC
|
17,229
|
5,280,689
|
|
117,459,147
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.5%
|
|||
Rithm Capital Corp
|
1,275,935
|
14,405,305
|
|
TOTAL FINANCIALS
|
472,600,776
|
||
Health Care - 9.2%
|
|||
Biotechnology - 2.8%
|
|||
Biogen Inc (c)
|
92,470
|
11,613,307
|
|
BioMarin Pharmaceutical Inc (c)
|
3,306
|
181,731
|
|
Exelixis Inc (c)
|
398,661
|
17,570,984
|
|
Gilead Sciences Inc
|
114,109
|
12,651,265
|
|
Incyte Corp (c)
|
246,600
|
16,793,460
|
|
Insmed Inc (c)
|
27,815
|
2,799,302
|
|
Natera Inc (c)
|
46,702
|
7,889,836
|
|
Revolution Medicines Inc (c)
|
3,162
|
116,329
|
|
United Therapeutics Corp (c)
|
25,901
|
7,442,652
|
|
77,058,866
|
|||
Health Care Equipment & Supplies - 0.5%
|
|||
ABIOMED Inc (c)(d)
|
3,289
|
7,302
|
|
Becton Dickinson & Co
|
8,245
|
1,420,201
|
|
Hologic Inc (c)
|
7,615
|
496,193
|
|
Inspire Medical Systems Inc (c)
|
2,609
|
338,570
|
|
Insulet Corp (c)
|
29,427
|
9,245,375
|
|
ResMed Inc
|
11,420
|
2,946,360
|
|
14,454,001
|
|||
Health Care Providers & Services - 2.7%
|
|||
Cardinal Health Inc
|
143,046
|
24,031,729
|
|
Cencora Inc
|
18,997
|
5,696,250
|
|
Centene Corp (c)
|
284,153
|
15,423,825
|
|
Guardant Health Inc (c)
|
4,237
|
220,493
|
|
Humana Inc
|
86,907
|
21,247,023
|
|
Labcorp Holdings Inc
|
19,462
|
5,108,970
|
|
Option Care Health Inc (c)
|
27,448
|
891,511
|
|
Tenet Healthcare Corp (c)
|
21,108
|
3,715,008
|
|
76,334,809
|
|||
Health Care Technology - 1.3%
|
|||
Doximity Inc Class A (c)
|
215,011
|
13,188,774
|
|
Veeva Systems Inc Class A (c)
|
86,625
|
24,946,268
|
|
38,135,042
|
|||
Life Sciences Tools & Services - 1.3%
|
|||
10X Genomics Inc Class A (c)
|
337,984
|
3,913,855
|
|
Agilent Technologies Inc
|
21,488
|
2,535,799
|
|
Charles River Laboratories International Inc (c)
|
38,918
|
5,905,028
|
|
Illumina Inc (c)
|
192,386
|
18,355,549
|
|
Medpace Holdings Inc (c)
|
15,497
|
4,863,888
|
|
QIAGEN NV (United States) (b)
|
52,787
|
2,536,943
|
|
38,111,062
|
|||
Pharmaceuticals - 0.6%
|
|||
Bristol-Myers Squibb Co
|
275,092
|
12,734,009
|
|
Organon & Co
|
175,073
|
1,694,707
|
|
Viatris Inc
|
170,483
|
1,522,413
|
|
15,951,129
|
|||
TOTAL HEALTH CARE
|
260,044,909
|
||
Industrials - 17.8%
|
|||
Aerospace & Defense - 4.0%
|
|||
Axon Enterprise Inc (c)
|
35,763
|
29,609,619
|
|
Curtiss-Wright Corp
|
40,228
|
19,653,389
|
|
HEICO Corp
|
29,365
|
9,631,720
|
|
HEICO Corp Class A
|
19,221
|
4,973,434
|
|
Howmet Aerospace Inc
|
179,788
|
33,463,941
|
|
Textron Inc
|
108,309
|
8,696,130
|
|
Woodward Inc
|
22,972
|
5,630,207
|
|
111,658,440
|
|||
Building Products - 1.8%
|
|||
A O Smith Corp
|
122,473
|
8,030,555
|
|
Allegion plc
|
121,659
|
17,533,495
|
|
Armstrong World Industries Inc
|
20,676
|
3,358,609
|
|
Builders FirstSource Inc (c)
|
30,326
|
3,538,741
|
|
Johnson Controls International plc
|
17
|
1,796
|
|
Lennox International Inc
|
7,546
|
4,325,669
|
|
Masco Corp
|
5,606
|
360,802
|
|
Owens Corning
|
57,348
|
7,886,497
|
|
Trane Technologies PLC
|
13,661
|
5,975,458
|
|
51,011,622
|
|||
Commercial Services & Supplies - 0.8%
|
|||
Cintas Corp
|
62,218
|
13,866,526
|
|
Veralto Corp
|
72,777
|
7,346,838
|
|
Vestis Corp
|
209,368
|
1,199,678
|
|
22,413,042
|
|||
Construction & Engineering - 1.4%
|
|||
AECOM
|
25,751
|
2,906,258
|
|
Comfort Systems USA Inc
|
22,816
|
12,234,167
|
|
EMCOR Group Inc
|
18,504
|
9,897,605
|
|
Valmont Industries Inc
|
47,279
|
15,439,903
|
|
40,477,933
|
|||
Electrical Equipment - 1.6%
|
|||
Acuity Inc
|
51,890
|
15,480,863
|
|
AMETEK Inc
|
116,185
|
21,024,838
|
|
Hubbell Inc
|
1
|
408
|
|
Sensata Technologies Holding PLC
|
310,182
|
9,339,580
|
|
45,845,689
|
|||
Ground Transportation - 0.7%
|
|||
JB Hunt Transport Services Inc
|
30,921
|
4,440,256
|
|
Lyft Inc Class A (c)
|
1,001,507
|
15,783,750
|
|
Old Dominion Freight Line Inc
|
1,625
|
263,737
|
|
20,487,743
|
|||
Machinery - 2.9%
|
|||
AGCO Corp
|
14
|
1,444
|
|
Allison Transmission Holdings Inc
|
14,542
|
1,381,345
|
|
Cummins Inc
|
66,056
|
21,633,340
|
|
Donaldson Co Inc
|
34,933
|
2,422,604
|
|
Flowserve Corp
|
152,149
|
7,965,000
|
|
Fortive Corp
|
63
|
3,284
|
|
Gates Industrial Corp PLC (c)
|
465,609
|
10,722,975
|
|
ITT Inc
|
57,456
|
9,010,824
|
|
Middleby Corp/The (c)
|
22,054
|
3,175,776
|
|
Oshkosh Corp
|
37,424
|
4,249,121
|
|
Westinghouse Air Brake Technologies Corp
|
109,820
|
22,990,818
|
|
83,556,531
|
|||
Passenger Airlines - 0.3%
|
|||
United Airlines Holdings Inc (c)
|
98,361
|
7,832,486
|
|
Professional Services - 2.4%
|
|||
Amentum Holdings Inc
|
35,078
|
828,192
|
|
Booz Allen Hamilton Holding Corp Class A
|
95,193
|
9,912,447
|
|
Concentrix Corp
|
12,622
|
667,135
|
|
Dun & Bradstreet Holdings Inc
|
374,098
|
3,400,551
|
|
Leidos Holdings Inc
|
125,161
|
19,745,399
|
|
Paylocity Holding Corp (c)
|
46,649
|
8,452,332
|
|
SS&C Technologies Holdings Inc
|
220,461
|
18,254,171
|
|
Verisk Analytics Inc
|
18,561
|
5,781,752
|
|
67,041,979
|
|||
Trading Companies & Distributors - 1.9%
|
|||
Fastenal Co
|
284,946
|
11,967,732
|
|
FTAI Aviation Ltd
|
1,551
|
178,427
|
|
MSC Industrial Direct Co Inc Class A (b)
|
57,771
|
4,911,690
|
|
QXO Inc (c)
|
74,267
|
1,599,711
|
|
Watsco Inc
|
7,850
|
3,466,717
|
|
Wesco International Inc
|
63,385
|
11,738,902
|
|
WW Grainger Inc
|
19,677
|
20,468,803
|
|
54,331,982
|
|||
TOTAL INDUSTRIALS
|
504,657,447
|
||
Information Technology - 13.4%
|
|||
Communications Equipment - 0.9%
|
|||
F5 Inc (c)
|
57,548
|
16,937,527
|
|
Motorola Solutions Inc
|
19,968
|
8,395,745
|
|
25,333,272
|
|||
Electronic Equipment, Instruments & Components - 0.9%
|
|||
Itron Inc (c)
|
17,925
|
2,359,468
|
|
Keysight Technologies Inc (c)
|
19,896
|
3,260,159
|
|
Littelfuse Inc (b)
|
9,482
|
2,149,854
|
|
Ralliant Corp
|
21
|
1,017
|
|
Zebra Technologies Corp Class A (c)
|
60,636
|
18,697,717
|
|
26,468,215
|
|||
IT Services - 1.5%
|
|||
EPAM Systems Inc (c)
|
4,129
|
730,090
|
|
GoDaddy Inc Class A (c)
|
107,368
|
19,332,682
|
|
Kyndryl Holdings Inc (c)
|
104,276
|
4,375,421
|
|
MongoDB Inc Class A (c)
|
1,726
|
362,443
|
|
Okta Inc Class A (c)
|
7,294
|
729,181
|
|
Twilio Inc Class A (c)
|
133,336
|
16,581,665
|
|
42,111,482
|
|||
Semiconductors & Semiconductor Equipment - 2.3%
|
|||
Cirrus Logic Inc (c)
|
151,084
|
15,751,262
|
|
Enphase Energy Inc (c)
|
75,246
|
2,983,504
|
|
GlobalFoundries Inc (c)
|
23,648
|
903,354
|
|
KLA Corp
|
4,797
|
4,296,865
|
|
MACOM Technology Solutions Holdings Inc (c)
|
26,929
|
3,858,656
|
|
MKS Inc
|
9,304
|
924,445
|
|
Onto Innovation Inc (c)
|
33,939
|
3,425,463
|
|
Qorvo Inc (c)
|
206,035
|
17,494,433
|
|
Skyworks Solutions Inc
|
210,054
|
15,653,224
|
|
65,291,206
|
|||
Software - 5.8%
|
|||
ANSYS Inc (c)
|
11,646
|
4,090,308
|
|
AppLovin Corp Class A (c)
|
44,041
|
15,417,873
|
|
Atlassian Corp Class A (c)
|
8,172
|
1,659,651
|
|
BILL Holdings Inc (c)
|
55,386
|
2,562,156
|
|
Commvault Systems Inc (c)
|
31,742
|
5,533,583
|
|
Docusign Inc (c)
|
110,329
|
8,593,526
|
|
Dropbox Inc Class A (c)
|
544,039
|
15,559,515
|
|
Dynatrace Inc (c)
|
316,250
|
17,460,163
|
|
Fortinet Inc (c)
|
129,035
|
13,641,580
|
|
HubSpot Inc (c)
|
37,214
|
20,714,430
|
|
Manhattan Associates Inc (c)
|
6,854
|
1,353,459
|
|
Nutanix Inc Class A (c)
|
98,405
|
7,522,078
|
|
Palantir Technologies Inc Class A (c)
|
5,114
|
697,140
|
|
Pegasystems Inc
|
100,672
|
5,449,375
|
|
Q2 Holdings Inc (c)
|
10,471
|
979,981
|
|
RingCentral Inc Class A (c)
|
269,616
|
7,643,614
|
|
Teradata Corp (c)
|
404,177
|
9,017,189
|
|
UiPath Inc Class A (c)
|
99,565
|
1,274,432
|
|
Unity Software Inc (c)
|
167,797
|
4,060,687
|
|
Zoom Communications Inc Class A (c)
|
236,219
|
18,420,359
|
|
Zscaler Inc (c)
|
12,502
|
3,924,878
|
|
165,575,977
|
|||
Technology Hardware, Storage & Peripherals - 2.0%
|
|||
Hewlett Packard Enterprise Co
|
919,732
|
18,808,519
|
|
HP Inc
|
90,499
|
2,213,606
|
|
NetApp Inc
|
185,058
|
19,717,930
|
|
Western Digital Corp
|
249,458
|
15,962,817
|
|
56,702,872
|
|||
TOTAL INFORMATION TECHNOLOGY
|
381,483,024
|
||
Materials - 4.7%
|
|||
Chemicals - 2.3%
|
|||
Axalta Coating Systems Ltd (c)
|
389,281
|
11,557,753
|
|
CF Industries Holdings Inc
|
17,151
|
1,577,891
|
|
Corteva Inc
|
43,815
|
3,265,532
|
|
DuPont de Nemours Inc
|
182,867
|
12,542,848
|
|
Ecolab Inc
|
41,272
|
11,120,328
|
|
FMC Corp (b)
|
214,104
|
8,938,842
|
|
International Flavors & Fragrances Inc
|
188,804
|
13,886,534
|
|
62,889,728
|
|||
Construction Materials - 0.5%
|
|||
CRH PLC
|
106,190
|
9,748,242
|
|
Vulcan Materials Co
|
20,996
|
5,476,177
|
|
15,224,419
|
|||
Containers & Packaging - 1.2%
|
|||
Amcor PLC
|
2,026,521
|
18,623,728
|
|
Crown Holdings Inc
|
131,241
|
13,515,198
|
|
Sealed Air Corp
|
37,588
|
1,166,356
|
|
33,305,282
|
|||
Metals & Mining - 0.7%
|
|||
Newmont Corp
|
106,011
|
6,176,201
|
|
Nucor Corp
|
63,018
|
8,163,352
|
|
Royal Gold Inc
|
31,213
|
5,550,920
|
|
Steel Dynamics Inc
|
5,560
|
711,735
|
|
20,602,208
|
|||
TOTAL MATERIALS
|
132,021,637
|
||
Real Estate - 8.1%
|
|||
Diversified REITs - 0.3%
|
|||
WP Carey Inc
|
134,923
|
8,416,497
|
|
Health Care REITs - 1.3%
|
|||
CareTrust REIT Inc
|
312,038
|
9,548,363
|
|
Healthpeak Properties Inc
|
613,669
|
10,745,344
|
|
Ventas Inc
|
269,123
|
16,995,117
|
|
37,288,824
|
|||
Industrial REITs - 0.2%
|
|||
First Industrial Realty Trust Inc
|
22,782
|
1,096,498
|
|
STAG Industrial Inc Class A
|
146,886
|
5,329,024
|
|
6,425,522
|
|||
Real Estate Management & Development - 0.7%
|
|||
CBRE Group Inc Class A (c)
|
41,273
|
5,783,173
|
|
Compass Inc Class A (c)
|
239,185
|
1,502,081
|
|
Zillow Group Inc Class A (b)(c)
|
88,539
|
6,064,036
|
|
Zillow Group Inc Class C (c)
|
108,528
|
7,602,387
|
|
20,951,677
|
|||
Residential REITs - 0.9%
|
|||
American Homes 4 Rent Class A
|
337,512
|
12,174,058
|
|
Equity Residential
|
208,892
|
14,098,121
|
|
26,272,179
|
|||
Retail REITs - 1.5%
|
|||
Brixmor Property Group Inc
|
584,050
|
15,208,662
|
|
Regency Centers Corp
|
136,442
|
9,718,764
|
|
Simon Property Group Inc
|
109,519
|
17,606,274
|
|
42,533,700
|
|||
Specialized REITs - 3.2%
|
|||
American Tower Corp
|
51,020
|
11,276,440
|
|
Crown Castle Inc
|
59,516
|
6,114,079
|
|
CubeSmart
|
49,150
|
2,088,875
|
|
Digital Realty Trust Inc
|
151,910
|
26,482,471
|
|
EPR Properties
|
33,070
|
1,926,658
|
|
Extra Space Storage Inc
|
26,353
|
3,885,486
|
|
Gaming and Leisure Properties Inc
|
288,532
|
13,468,674
|
|
Iron Mountain Inc
|
15,566
|
1,596,605
|
|
National Storage Affiliates Trust
|
13,973
|
446,996
|
|
Rayonier Inc
|
8
|
177
|
|
SBA Communications Corp Class A
|
1,696
|
398,289
|
|
VICI Properties Inc
|
625,715
|
20,398,309
|
|
88,083,059
|
|||
TOTAL REAL ESTATE
|
229,971,458
|
||
Utilities - 3.9%
|
|||
Electric Utilities - 1.7%
|
|||
Edison International
|
137,671
|
7,103,824
|
|
Evergy Inc
|
88,994
|
6,134,356
|
|
Exelon Corp
|
242,639
|
10,535,385
|
|
NRG Energy Inc
|
102,117
|
16,397,949
|
|
PG&E Corp
|
510,431
|
7,115,408
|
|
Xcel Energy Inc
|
52
|
3,541
|
|
47,290,463
|
|||
Gas Utilities - 0.0%
|
|||
MDU Resources Group Inc
|
93,222
|
1,554,010
|
|
Independent Power and Renewable Electricity Producers - 0.5%
|
|||
AES Corp/The
|
243,929
|
2,566,133
|
|
Clearway Energy Inc Class A
|
52,719
|
1,595,277
|
|
Clearway Energy Inc Class C (b)
|
94,185
|
3,013,920
|
|
Vistra Corp
|
41,081
|
7,961,909
|
|
15,137,239
|
|||
Multi-Utilities - 1.7%
|
|||
Ameren Corp
|
34,861
|
3,348,050
|
|
CenterPoint Energy Inc
|
233,414
|
8,575,630
|
|
CMS Energy Corp
|
182,129
|
12,617,898
|
|
Consolidated Edison Inc
|
69,676
|
6,991,987
|
|
DTE Energy Co
|
46,516
|
6,161,509
|
|
NiSource Inc
|
128,585
|
5,187,119
|
|
WEC Energy Group Inc
|
39,064
|
4,070,469
|
|
46,952,662
|
|||
Water Utilities - 0.0%
|
|||
American Water Works Co Inc
|
8,169
|
1,136,389
|
|
TOTAL UTILITIES
|
112,070,763
|
||
TOTAL UNITED STATES
|
2,779,294,114
|
||
TOTAL COMMON STOCKS
(Cost $2,557,098,455)
|
2,810,915,570
|
||
U.S. Treasury Obligations - 0.3%
|
||||
Yield (%) (e)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 7/31/2025
|
4.23
|
2,390,000
|
2,381,701
|
|
US Treasury Bills 0% 9/25/2025 (f)
|
4.23
|
4,000,000
|
3,959,962
|
|
US Treasury Bills 0% 9/4/2025
|
4.28
|
2,640,000
|
2,619,700
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $8,961,475)
|
8,961,363
|
|||
Money Market Funds - 1.5%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (g)
|
4.32
|
15,425,863
|
15,428,947
|
|
Fidelity Securities Lending Cash Central Fund (g)(h)
|
4.32
|
27,951,909
|
27,954,705
|
|
TOTAL MONEY MARKET FUNDS
(Cost $43,383,652)
|
43,383,652
|
|||
TOTAL INVESTMENT IN SECURITIES - 100.9%
(Cost $2,609,443,582)
|
2,863,260,585
|
NET OTHER ASSETS (LIABILITIES) - (0.9)%
|
(25,584,523)
|
NET ASSETS - 100.0%
|
2,837,676,062
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME S&P 400 Midcap Index Contracts (United States)
|
48
|
Sep 2025
|
15,002,400
|
452,890
|
452,890
|
The notional amount of futures purchased as a percentage of Net Assets is 0.5%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(c)
|
Non-income producing
|
(d)
|
Level 3 security
|
(e)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(f)
|
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 $1,410,737.
|
(g)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(h)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
79,628,655
|
374,076,942
|
438,276,649
|
1,028,632
|
-
|
(1)
|
15,428,947
|
15,425,863
|
0.0%
|
Fidelity Securities Lending Cash Central Fund
|
10,080,342
|
267,365,108
|
249,490,745
|
133,399
|
-
|
-
|
27,954,705
|
27,951,909
|
0.1%
|
Total
|
89,708,997
|
641,442,050
|
687,767,394
|
1,162,031
|
-
|
(1)
|
43,383,652
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
114,558,143
|
114,558,143
|
-
|
-
|
Consumer Discretionary
|
380,376,422
|
380,376,422
|
-
|
-
|
Consumer Staples
|
88,816,387
|
88,816,387
|
-
|
-
|
Energy
|
130,334,941
|
130,334,941
|
-
|
-
|
Financials
|
474,925,475
|
474,925,475
|
-
|
-
|
Health Care
|
260,044,909
|
260,037,607
|
-
|
7,302
|
Industrials
|
504,657,447
|
504,657,447
|
-
|
-
|
Information Technology
|
381,483,024
|
381,483,024
|
-
|
-
|
Materials
|
132,021,637
|
132,021,637
|
-
|
-
|
Real Estate
|
229,971,458
|
229,971,458
|
-
|
-
|
Utilities
|
113,725,727
|
113,725,727
|
-
|
-
|
U.S. Treasury Obligations
|
8,961,363
|
-
|
8,961,363
|
-
|
Money Market Funds
|
43,383,652
|
43,383,652
|
-
|
-
|
Total Investments in Securities:
|
2,863,260,585
|
2,854,291,920
|
8,961,363
|
7,302
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
452,890
|
452,890
|
-
|
-
|
Total Assets
|
452,890
|
452,890
|
-
|
-
|
Total Derivative Instruments:
|
452,890
|
452,890
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
452,890
|
0
|
Total Equity Risk
|
452,890
|
0
|
Total Value of Derivatives
|
452,890
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $27,196,496) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $2,566,059,930)
|
$
|
2,819,876,933
|
||
Fidelity Central Funds (cost $43,383,652)
|
43,383,652
|
|||
Total Investment in Securities (cost $2,609,443,582)
|
$
|
2,863,260,585
|
||
Cash
|
403,583
|
|||
Dividends receivable
|
2,767,209
|
|||
Distributions receivable from Fidelity Central Funds
|
104,956
|
|||
Other receivables
|
511
|
|||
Total assets
|
2,866,536,844
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
374,719
|
||
Accrued management fee
|
524,430
|
|||
Payable for daily variation margin on futures contracts
|
5,405
|
|||
Other payables and accrued expenses
|
1,523
|
|||
Collateral on securities loaned
|
27,954,705
|
|||
Total liabilities
|
28,860,782
|
|||
Net Assets
|
$
|
2,837,676,062
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
2,687,572,895
|
||
Total accumulated earnings (loss)
|
150,103,167
|
|||
Net Assets
|
$
|
2,837,676,062
|
||
Net Asset Value, offering price and redemption price per share ($2,837,676,062 ÷ 82,516,761 shares)
|
$
|
34.39
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
32,007,168
|
||
Interest
|
145,378
|
|||
Income from Fidelity Central Funds (including $133,399 from security lending)
|
1,162,031
|
|||
Total income
|
33,314,577
|
|||
Expenses
|
||||
Management fee
|
$
|
5,129,920
|
||
Independent trustees' fees and expenses
|
8,511
|
|||
Interest
|
4,284
|
|||
Miscellaneous
|
-
|
|||
Total expenses before reductions
|
5,142,715
|
|||
Expense reductions
|
(2,815)
|
|||
Total expenses after reductions
|
5,139,900
|
|||
Net Investment income (loss)
|
28,174,677
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(46,234,927)
|
|||
Redemptions in-kind
|
272,013,260
|
|||
Fidelity Central Funds
|
-
|
|||
Foreign currency transactions
|
-
|
|||
Futures contracts
|
2,679,811
|
|||
Total net realized gain (loss)
|
228,458,144
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
64,438,986
|
|||
Fidelity Central Funds
|
(1)
|
|||
Futures contracts
|
404,791
|
|||
Total change in net unrealized appreciation (depreciation)
|
64,843,776
|
|||
Net gain (loss)
|
293,301,920
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
321,476,597
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Ten months ended
June 30, 2024
|
Year ended
August 31, 2023
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
28,174,677
|
$
|
15,169,494
|
$
|
19,450,767
|
Net realized gain (loss)
|
228,458,144
|
178,466,399
|
8,724,420
|
|||
Change in net unrealized appreciation (depreciation)
|
64,843,776
|
13,844,200
|
111,463,962
|
|||
Net increase (decrease) in net assets resulting from operations
|
321,476,597
|
207,480,093
|
139,639,149
|
|||
Distributions to shareholders
|
(29,122,156)
|
(25,950,215)
|
(57,460,804)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
2,000,994,293
|
655,066,382
|
531,911,323
|
|||
Reinvestment of distributions
|
-
|
14,294,274
|
54,197,269
|
|||
Cost of shares redeemed
|
(1,109,248,748)
|
(833,830,134)
|
(686,633,472)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
891,745,545
|
(164,469,478)
|
(100,524,880)
|
|||
Total increase (decrease) in net assets
|
1,184,099,986
|
17,060,400
|
(18,346,535)
|
|||
Net Assets
|
||||||
Beginning of period
|
1,653,576,076
|
1,636,515,676
|
1,654,862,211
|
|||
End of period
|
$
|
2,837,676,062
|
$
|
1,653,576,076
|
$
|
1,636,515,676
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
60,700,000
|
22,793,530
|
21,113,682
|
|||
Issued in reinvestment of distributions
|
-
|
584,792
|
2,258,425
|
|||
Redeemed
|
(34,300,000)
|
(30,719,865)
|
(27,059,804)
|
|||
Net increase (decrease)
|
26,400,000
|
(7,341,543)
|
(3,687,697)
|
|||
Fidelity® Enhanced Mid Cap ETF |
Years ended June 30,
|
2025
|
2024 A
|
2023 B,C
|
2022 B,C
|
2021 B,C
|
2020 B,C
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
29.47
|
$
|
25.79
|
$
|
24.65
|
$
|
32.17
|
$
|
23.47
|
$
|
22.59
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) D,E
|
.41
|
.27
|
.28
|
.28
|
.22
|
.29
|
||||||
Net realized and unrealized gain (loss)
|
4.93
|
3.86
|
1.69
|
(3.81)
|
9.40
|
1.50
|
||||||
Total from investment operations
|
5.34
|
4.13
|
1.97
|
(3.53)
|
9.62
|
1.79
|
||||||
Distributions from net investment income
|
(.42)
|
(.45)
|
(.23)
|
(.23)
|
(.25)
|
(.34)
|
||||||
Distributions from net realized gain
|
-
|
-
|
(.57)
|
(3.76)
|
(.67)
|
(.59)
|
||||||
Total distributions
|
(.42)
|
(.45)
|
(.83) F
|
(3.99)
|
(.92)
|
(.91) F
|
||||||
Net asset value, end of period
|
$
|
34.39
|
$
|
29.47
|
$
|
25.79
|
$
|
24.65
|
$
|
32.17
|
$
|
23.47
|
Total Return G,H,I
|
18.20 % |
16.23%
|
8.19%
|
(12.36)%
|
41.82%
|
7.91%
|
||||||
Ratios to Average Net Assets E,J,K
|
||||||||||||
Expenses before reductions
|
.23%
|
.29% L,M
|
.45%
|
.51%
|
.59%
|
.59%
|
||||||
Expenses net of fee waivers, if any
|
.23 % |
.29% L,M
|
.45%
|
.51%
|
.59%
|
.59%
|
||||||
Expenses net of all reductions, if any
|
.23%
|
.29% L,M
|
.45%
|
.51%
|
.59%
|
.59%
|
||||||
Net investment income (loss)
|
1.27%
|
1.19% L,M
|
1.12%
|
1.00%
|
.77%
|
1.33%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
2,837,676
|
$
|
1,653,576
|
$
|
1,636,516
|
$
|
1,654,862
|
$
|
2,042,347
|
$
|
1,182,253
|
Portfolio turnover rate N
|
70 % O |
73% L,O
|
104%
|
116%
|
70%
|
73%
|
Current ETFs
|
Former Mutual Funds (Predecessor Funds)
|
Fidelity Enhanced International ETF
|
Fidelity International Enhanced Index Fund
|
Fidelity Enhanced Large Cap Core ETF
|
Fidelity Large Cap Core Enhanced Index Fund
|
Fidelity Enhanced Large Cap Growth ETF
|
Fidelity Large Cap Growth Enhanced Index Fund
|
Fidelity Enhanced Large Cap Value ETF
|
Fidelity Large Cap Value Enhanced Index Fund
|
Fidelity Enhanced Mid Cap ETF
|
Fidelity Mid Cap Enhanced Index Fund
|
Fidelity Central Fund
|
Investment Manager
|
Investment Objective
|
Investment Practices
|
Expense RatioA
|
Fidelity Money Market Central Funds
|
Fidelity Management & Research Company LLC (FMR)
|
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
|
Short-term Investments
|
.005%
|
Tax cost ($)
|
Gross unrealized appreciation ($)
|
Gross unrealized depreciation ($)
|
Net unrealized appreciation (depreciation)($)
|
|
Fidelity Enhanced International ETF
|
2,741,415,536
|
513,143,540
|
(33,809,036)
|
479,334,504
|
Fidelity Enhanced Large Cap Core ETF
|
3,869,972,414
|
905,178,195
|
(91,299,586)
|
813,878,609
|
Fidelity Enhanced Large Cap Growth ETF
|
2,271,050,028
|
1,474,943,084
|
(49,883,851)
|
1,425,059,233
|
Fidelity Enhanced Large Cap Value ETF
|
2,107,029,535
|
322,687,893
|
(96,310,305)
|
226,377,588
|
Fidelity Enhanced Mid Cap ETF
|
2,615,338,035
|
352,016,263
|
(104,093,713)
|
247,922,550
|
Undistributed ordinary income ($)
|
Capital loss carryforward ($)
|
Net unrealized appreciation (depreciation) on securities and other investments ($)
|
|
Fidelity Enhanced International ETF
|
11,686,990
|
(98,223,155)
|
480,051,807
|
Fidelity Enhanced Large Cap Core ETF
|
74,418
|
(181,662,043)
|
813,878,609
|
Fidelity Enhanced Large Cap Growth ETF
|
197,914
|
(88,472,969)
|
1,425,059,233
|
Fidelity Enhanced Large Cap Value ETF
|
-
|
(87,566,663)
|
226,377,607
|
Fidelity Enhanced Mid Cap ETF
|
-
|
(97,819,384)
|
247,922,550
|
Short-term ($)
|
Long-term ($)
|
Total capital loss carryforward ($)
|
|
Fidelity Enhanced International ETF
|
(98,223,155)
|
-
|
(98,223,155)
|
Fidelity Enhanced Large Cap Core ETF
|
(171,846,589)
|
(9,815,454)
|
(181,662,043)
|
Fidelity Enhanced Large Cap Growth ETF
|
(84,774,517)
|
(3,698,452)
|
(88,472,969)
|
Fidelity Enhanced Large Cap Value ETF
|
(74,292,481)
|
(13,274,182)
|
(87,566,663)
|
Fidelity Enhanced Mid Cap ETF
|
(97,819,384)
|
-
|
(97,819,384)
|
June 30, 2025
|
|||||
Ordinary Income ($)
|
Long-term Capital Gains ($)
|
Total ($)
|
|||
Fidelity Enhanced International ETF
|
66,312,030
|
-
|
66,312,030
|
||
Fidelity Enhanced Large Cap Core ETF
|
45,512,986
|
-
|
45,512,986
|
||
Fidelity Enhanced Large Cap Growth ETF
|
15,582,492
|
-
|
15,582,492
|
||
Fidelity Enhanced Large Cap Value ETF
|
38,336,716
|
-
|
38,336,716
|
||
Fidelity Enhanced Mid Cap ETF
|
29,122,156
|
-
|
29,122,156
|
||
June 30, 2024
|
|||||
Ordinary Income ($)
|
Long-term Capital Gains ($)
|
Total ($)
|
|||
Fidelity Enhanced International ETF
|
71,077,009
|
-
|
71,077,009
|
||
Fidelity Enhanced Large Cap Core ETF
|
35,565,387
|
-
|
35,565,387
|
||
Fidelity Enhanced Large Cap Growth ETF
|
21,077,755
|
601,538
|
21,679,293
|
||
Fidelity Enhanced Large Cap Value ETF
|
102,487,259
|
72,971,462
|
175,458,721
|
||
Fidelity Enhanced Mid Cap ETF
|
25,950,215
|
-
|
25,950,215
|
||
August 31, 2023
|
|||||
Ordinary Income ($)
|
Long-term Capital Gains ($)
|
Total ($)
|
|||
Fidelity International Enhanced Index Fund
|
33,763,256
|
-
|
33,763,256
|
||
Fidelity Large Cap Core Enhanced Index Fund
|
14,695,385
|
7,597,614
|
22,292,999
|
||
Fidelity Large Cap Growth Enhanced Index Fund
|
10,050,462
|
-
|
10,050,462
|
||
Fidelity Large Cap Value Enhanced Index Fund
|
84,574,965
|
172,625,609
|
257,200,574
|
||
Fidelity Mid Cap Enhanced Index Fund
|
16,855,170
|
40,605,634
|
57,460,804
|
||
Equity Risk
|
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
Purchases ($)
|
Sales ($)
|
|
Fidelity Enhanced International ETF
|
2,098,812,532
|
1,387,347,917
|
Fidelity Enhanced Large Cap Core ETF
|
3,817,088,840
|
2,923,414,777
|
Fidelity Enhanced Large Cap Growth ETF
|
2,890,328,499
|
1,787,568,966
|
Fidelity Enhanced Large Cap Value ETF
|
2,291,380,009
|
1,413,837,022
|
Fidelity Enhanced Mid Cap ETF
|
2,435,431,745
|
1,492,886,171
|
In-Kind Subscriptions ($)
|
In-Kind Redemptions ($)
|
|
Fidelity Enhanced International ETF
|
993,790,377
|
489,015,262
|
Fidelity Enhanced Large Cap Core ETF
|
2,049,801,551
|
1,622,386,610
|
Fidelity Enhanced Large Cap Growth ETF
|
661,609,702
|
1,249,165,411
|
Fidelity Enhanced Large Cap Value ETF
|
203,418,577
|
764,995,084
|
Fidelity Enhanced Mid Cap ETF
|
1,008,225,916
|
1,068,746,100
|
Shares
|
Total net realized gain or loss ($)
|
Total Proceeds ($)
|
|
Fidelity Enhanced Large Cap Growth ETF
|
2,376,033
|
30,168,211
|
67,930,785
|
Fidelity Enhanced Large Cap Value ETF
|
269,891,296
|
408,600,213
|
3,633,326,017
|
Fidelity Enhanced Mid Cap ETF
|
2,515,337
|
10,553,430
|
40,748,466
|
Fee Rate
|
|
Fidelity Enhanced International ETF
|
.28%
|
Fidelity Enhanced Large Cap Core ETF
|
.18%
|
Fidelity Enhanced Large Cap Growth ETF
|
.18%
|
Fidelity Enhanced Large Cap Value ETF
|
.18%
|
Fidelity Enhanced Mid Cap ETF
|
.23%
|
Amount ($)
|
|
Fidelity Enhanced International ETF
|
3,699
|
Fidelity Enhanced Large Cap Core ETF
|
66,254
|
Fidelity Enhanced Large Cap Growth ETF
|
35,412
|
Fidelity Enhanced Large Cap Value ETF
|
40,913
|
Fidelity Enhanced Mid Cap ETF
|
63,490
|
Borrower or Lender
|
Average Loan Balance ($)
|
Weighted Average Interest Rate
|
Interest Expense ($)
|
|
Fidelity Enhanced International ETF
|
Borrower
|
4,978,000
|
5.58%
|
1,543
|
Fidelity Enhanced Large Cap Growth ETF
|
Borrower
|
17,022,000
|
5.08%
|
2,400
|
Fidelity Enhanced Mid Cap ETF
|
Borrower
|
7,598,000
|
5.08%
|
4,284
|
Purchases ($)
|
Sales ($)
|
Realized Gain (Loss) ($)
|
|
Fidelity Enhanced International ETF
|
63,604,660
|
33,286,239
|
2,956,986
|
Fidelity Enhanced Large Cap Core ETF
|
155,343,593
|
130,595,860
|
1,708,703
|
Fidelity Enhanced Large Cap Growth ETF
|
156,945,128
|
138,063,770
|
(11,056,299)
|
Fidelity Enhanced Large Cap Value ETF
|
145,839,766
|
53,249,989
|
239,730
|
Fidelity Enhanced Mid Cap ETF
|
98,057,267
|
86,835,851
|
(606,173)
|
Total Security Lending Fees Paid to NFS ($)
|
Security Lending Income From Securities Loaned to NFS ($)
|
Value of Securities Loaned to NFS at Period End ($)
|
|
Fidelity Enhanced International ETF
|
36,650
|
-
|
-
|
Fidelity Enhanced Large Cap Core ETF
|
250
|
1
|
-
|
Fidelity Enhanced Large Cap Growth ETF
|
93
|
-
|
-
|
Fidelity Enhanced Large Cap Value ETF
|
674
|
1
|
-
|
Fidelity Enhanced Mid Cap ETF
|
14,470
|
9
|
-
|
Amount ($)
|
|
Fidelity Enhanced Large Cap Core ETF
|
3,143,444
|
Custodian credits ($)
|
|
Fidelity Enhanced International ETF
|
429
|
Fidelity Enhanced Large Cap Core ETF
|
1,474
|
Fidelity Enhanced Large Cap Growth ETF
|
778
|
Fidelity Enhanced Large Cap Value ETF
|
1,478
|
Fidelity Enhanced Mid Cap ETF
|
2,815
|
Predecessor Funds
|
New ETFs
|
Fidelity International Enhanced Index Fund
|
Fidelity Enhanced International ETF
|
Fidelity Large Cap Core Enhanced Index Fund
|
Fidelity Enhanced Large Cap Core ETF
|
Fidelity Large Cap Growth Enhanced Index Fund
|
Fidelity Enhanced Large Cap Growth ETF
|
Fidelity Large Cap Value Enhanced Index Fund
|
Fidelity Enhanced Large Cap Value ETF
|
Fidelity Mid Cap Enhanced Index Fund
|
Fidelity Enhanced Mid Cap ETF
|
Predecessor Fund/Accounting Survivor
|
Investments $
|
Unrealized appreciation (depreciation) $
|
Net Assets $
|
Shares Exchanged
|
Shares Exchanged Ratio
|
Fidelity International Enhanced Index Fund
|
1,368,602,643
|
195,092,188
|
1,368,248,892
|
54,730,068
|
.4057160000
|
Fidelity Large Cap Core Enhanced Index Fund
|
1,840,988,775
|
537,069,093
|
1,948,361,461
|
77,934,309
|
.8388640000
|
Fidelity Large Cap Growth Enhanced Index Fund
|
2,012,959,825
|
875,152,421
|
2,145,716,375
|
85,828,689
|
1.2032280000
|
Fidelity Large Cap Value Enhanced Index Fund
|
1,827,644,613
|
392,942
|
2,004,099,301
|
80,163,716
|
.5729240000
|
Fidelity Mid Cap Enhanced Index Fund
|
1,369,301,709
|
129,571,229
|
1,460,889,645
|
58,435,751
|
.6458920000
|
Acquiring ETF
|
Net Assets $
|
Total net assets after the acquisition $
|
Fidelity Enhanced International ETF
|
25
|
1,368,248,917
|
Fidelity Enhanced Large Cap Core ETF
|
25
|
1,948,361,486
|
Fidelity Enhanced Large Cap Growth ETF
|
25
|
2,145,716,400
|
Fidelity Enhanced Large Cap Value ETF
|
25
|
2,004,099,326
|
Fidelity Enhanced Mid Cap ETF
|
25
|
1,460,889,670
|
ETF name
|
Net investment income (loss)
|
Total net realized gain (loss)
|
Total change in net unrealized appreciation (depreciation)
|
Net increase (decrease) in net assets resulting from operations
|
Fidelity Enhanced International ETF
|
$35,812,169
|
$99,267,722
|
$58,817,853
|
$193,897,744
|
Fidelity Enhanced Large Cap Core ETF
|
22,993,277
|
209,030,464
|
246,834,439
|
478,858,180
|
Fidelity Enhanced Large Cap Growth ETF
|
12,362,182
|
260,568,152
|
368,592,605
|
641,522,939
|
Fidelity Enhanced Large Cap Value ETF
|
40,907,004
|
453,402,154
|
(574,650,497)
|
(80,341,339)
|
Fidelity Enhanced Mid Cap ETF
|
15,874,097
|
178,466,399
|
13,844,200
|
208,184,696
|
Fidelity Enhanced Large Cap Core ETF
|
|
September 2024
|
100%
|
December 2024
|
100%
|
March 2025
|
100%
|
June 2025
|
100%
|
Fidelity Enhanced Large Cap Growth ETF
|
|
September 2024
|
100%
|
December 2024
|
100%
|
March 2025
|
100%
|
June 2025
|
100%
|
Fidelity Enhanced Large Cap Value ETF
|
|
September 2024
|
94%
|
December 2024
|
94%
|
March 2025
|
89%
|
June 2025
|
89%
|
Fidelity Enhanced Mid Cap ETF
|
|
September 2024
|
85%
|
December 2024
|
85%
|
March 2025
|
75%
|
June 2025
|
75%
|
Fidelity Enhanced International ETF
|
|
September 2024
|
40.64%
|
December 2024
|
77.43%
|
March 2025
|
83.35%
|
June 2025
|
83.35%
|
Fidelity Enhanced Large Cap Core ETF
|
|
September 2024
|
100%
|
December 2024
|
100%
|
March 2025
|
100%
|
June 2025
|
100%
|
Fidelity Enhanced Large Cap Growth ETF
|
|
September 2024
|
100%
|
December 2024
|
100%
|
March 2025
|
100%
|
June 2025
|
100%
|
Fidelity Enhanced Large Cap Value ETF
|
|
September 2024
|
98.45%
|
December 2024
|
98.45%
|
March 2025
|
91.21%
|
June 2025
|
91.21%
|
Fidelity Enhanced Mid Cap ETF
|
|
September 2024
|
92.03%
|
December 2024
|
92.03%
|
March 2025
|
76.42%
|
June 2025
|
76.42%
|
Fidelity Enhanced Large Cap Value ETF
|
|
September 2024
|
1.55%
|
December 2024
|
1.55%
|
March 2025
|
8.80%
|
June 2025
|
8.80%
|
Fidelity Enhanced Mid Cap ETF
|
|
September 2024
|
7.97%
|
December 2024
|
7.97%
|
March 2025
|
23.58%
|
June 2025
|
23.58%
|
Fidelity Enhanced International ETF
|
$1,498,809
|
Fidelity Enhanced Large Cap Value ETF
|
$1,022,129
|
Fidelity Enhanced Mid Cap ETF
|
$997,113
|
Pay Date
|
Income
|
Taxes
|
|
Fidelity Enhanced International ETF
|
03/20/2024
|
$0.2468
|
$0.0185
|
06/25/2024
|
$0.2922
|
$0.0219
|
|
09/24/2024
|
$0.1601
|
$0.0057
|
|
12/24/2024
|
$0.1581
|
$0.0057
|
A special meeting of shareholders was held on July 16, 2024. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
|
||
Proposal 1
|
||
To elect a Board of Trustees.
|
||
# of
Votes
|
% of
Votes
|
|
Bettina Doulton
|
||
Affirmative
|
38,080,283,823.03
|
97.17
|
Withheld
|
1,109,333,237.47
|
2.83
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Robert A. Lawrence
|
||
Affirmative
|
37,781,807,251.33
|
96.41
|
Withheld
|
1,407,809,809.17
|
3.59
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vijay C. Advani
|
||
Affirmative
|
37,869,526,083.09
|
96.63
|
Withheld
|
1,320,090,977.41
|
3.37
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas P. Bostick
|
||
Affirmative
|
38,025,875,898.31
|
97.03
|
Withheld
|
1,163,741,162.19
|
2.97
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Donald F. Donahue
|
||
Affirmative
|
37,825,198,238.79
|
96.52
|
Withheld
|
1,364,418,821.71
|
3.48
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vicki L. Fuller
|
||
Affirmative
|
38,031,768,119.99
|
97.05
|
Withheld
|
1,157,848,940.51
|
2.95
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Patricia L. Kampling
|
||
Affirmative
|
38,062,391,881.90
|
97.12
|
Withheld
|
1,127,225,178.60
|
2.88
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas A. Kennedy
|
||
Affirmative
|
37,891,434,776.27
|
96.69
|
Withheld
|
1,298,182,284.23
|
3.31
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Oscar Munoz
|
||
Affirmative
|
37,976,932,673.73
|
96.91
|
Withheld
|
1,212,684,386.77
|
3.09
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Karen B. Peetz
|
||
Affirmative
|
38,011,822,212.28
|
96.99
|
Withheld
|
1,177,794,848.22
|
3.01
|
TOTAL
|
39,189,617,060.50
|
100.00
|
David M. Thomas
|
||
Affirmative
|
37,976,058,118.16
|
96.90
|
Withheld
|
1,213,558,942.34
|
3.10
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Susan Tomasky
|
||
Affirmative
|
37,845,471,684.67
|
96.57
|
Withheld
|
1,344,145,375.83
|
3.43
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Michael E. Wiley
|
||
Affirmative
|
37,736,569,620.69
|
96.29
|
Withheld
|
1,453,047,439.81
|
3.71
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Proposal 1 reflects trust-wide proposal and voting results.
|
![]() |
Contents
Common Stocks - 98.3%
|
|||
Shares
|
Value ($)
|
||
BERMUDA - 0.1%
|
|||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
Teekay Corp Ltd (b)
|
141,427
|
1,166,773
|
|
BRAZIL - 0.0%
|
|||
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
StoneCo Ltd Class A (c)
|
45,204
|
725,072
|
|
CANADA - 0.2%
|
|||
Health Care - 0.1%
|
|||
Biotechnology - 0.1%
|
|||
Aurinia Pharmaceuticals Inc (c)
|
145,064
|
1,228,693
|
|
Xenon Pharmaceuticals Inc (c)
|
16,981
|
531,505
|
|
1,760,198
|
|||
Information Technology - 0.1%
|
|||
Software - 0.1%
|
|||
D-Wave Quantum Inc (b)(c)
|
79,260
|
1,160,366
|
|
TOTAL CANADA
|
2,920,564
|
||
IRELAND - 0.2%
|
|||
Industrials - 0.2%
|
|||
Commercial Services & Supplies - 0.2%
|
|||
Cimpress PLC (c)
|
94,038
|
4,419,786
|
|
MONACO - 0.1%
|
|||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
Scorpio Tankers Inc
|
46,183
|
1,807,141
|
|
NORWAY - 0.1%
|
|||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
SFL Corp Ltd (b)
|
160,680
|
1,338,464
|
|
PANAMA - 0.1%
|
|||
Financials - 0.1%
|
|||
Financial Services - 0.1%
|
|||
Banco Latinoamericano de Comercio Exterior SA Class E
|
31,619
|
1,274,246
|
|
PUERTO RICO - 0.1%
|
|||
Financials - 0.1%
|
|||
Banks - 0.1%
|
|||
First BanCorp/Puerto Rico
|
133,842
|
2,787,929
|
|
SWITZERLAND - 0.1%
|
|||
Health Care - 0.1%
|
|||
Biotechnology - 0.1%
|
|||
CRISPR Therapeutics AG (c)
|
41,021
|
1,995,261
|
|
THAILAND - 0.4%
|
|||
Information Technology - 0.4%
|
|||
Electronic Equipment, Instruments & Components - 0.4%
|
|||
Fabrinet (c)
|
28,721
|
8,463,504
|
|
UNITED STATES - 96.9%
|
|||
Communication Services - 2.7%
|
|||
Diversified Telecommunication Services - 0.8%
|
|||
AST SpaceMobile Inc Class A (b)(c)
|
48,395
|
2,261,498
|
|
Atn International Inc
|
58,250
|
946,563
|
|
Bandwidth Inc Class A (c)
|
201,545
|
3,204,566
|
|
IDT Corp Class B
|
6,238
|
426,180
|
|
Lumen Technologies Inc (c)
|
1,859,994
|
8,146,774
|
|
Shenandoah Telecommunications Co
|
24,276
|
331,609
|
|
15,317,190
|
|||
Entertainment - 0.6%
|
|||
AMC Entertainment Holdings Inc Class A (b)(c)
|
116,189
|
360,186
|
|
Cinemark Holdings Inc (b)
|
176,407
|
5,323,963
|
|
Lionsgate Studios Corp
|
299,994
|
1,742,965
|
|
Madison Square Garden Entertainment Corp Class A (c)
|
71,773
|
2,868,767
|
|
Marcus Corp/The
|
26,209
|
441,884
|
|
10,737,765
|
|||
Interactive Media & Services - 0.8%
|
|||
EverQuote Inc Class A (c)
|
16,215
|
392,079
|
|
TrueCar Inc (c)
|
241,944
|
459,694
|
|
Vimeo Inc Class A (b)(c)
|
1,063,964
|
4,298,415
|
|
Yelp Inc Class A (c)
|
300,402
|
10,294,777
|
|
ZipRecruiter Inc Class A (c)
|
54,129
|
271,185
|
|
15,716,150
|
|||
Media - 0.5%
|
|||
Cable One Inc
|
5,627
|
764,203
|
|
Gannett Co Inc (c)
|
412,477
|
1,476,668
|
|
John Wiley & Sons Inc Class A
|
176,746
|
7,888,174
|
|
10,129,045
|
|||
Wireless Telecommunication Services - 0.0%
|
|||
Spok Holdings Inc
|
14,332
|
253,389
|
|
TOTAL COMMUNICATION SERVICES
|
52,153,539
|
||
Consumer Discretionary - 10.2%
|
|||
Automobile Components - 0.6%
|
|||
American Axle & Manufacturing Holdings Inc (b)(c)
|
500,183
|
2,040,747
|
|
Cooper-Standard Holdings Inc (c)
|
110,066
|
2,366,419
|
|
Goodyear Tire & Rubber Co/The (c)
|
155,222
|
1,609,652
|
|
Phinia Inc
|
125,449
|
5,581,226
|
|
11,598,044
|
|||
Automobiles - 0.3%
|
|||
Winnebago Industries Inc
|
195,270
|
5,662,829
|
|
Broadline Retail - 0.4%
|
|||
Groupon Inc (b)(c)
|
240,957
|
8,060,012
|
|
Diversified Consumer Services - 1.3%
|
|||
Adtalem Global Education Inc (c)
|
75,752
|
9,637,928
|
|
Chegg Inc (c)
|
530,667
|
642,107
|
|
Coursera Inc (c)
|
68,668
|
601,532
|
|
Graham Holdings Co Class B
|
4,602
|
4,354,274
|
|
KinderCare Learning Cos Inc (c)
|
128,650
|
1,299,365
|
|
Strategic Education Inc
|
55,557
|
4,729,567
|
|
Universal Technical Institute Inc (c)
|
100,672
|
3,411,774
|
|
24,676,547
|
|||
Hotels, Restaurants & Leisure - 1.3%
|
|||
BJ's Restaurants Inc (c)
|
42,198
|
1,882,031
|
|
Life Time Group Holdings Inc (c)
|
364,982
|
11,069,904
|
|
Light & Wonder Inc Class A (c)
|
28,889
|
2,780,855
|
|
Monarch Casino & Resort Inc
|
27,388
|
2,367,419
|
|
PlayAGS Inc (c)
|
119,475
|
1,492,243
|
|
Rush Street Interactive Inc Class A (c)
|
39,073
|
582,187
|
|
Shake Shack Inc Class A (c)
|
37,243
|
5,236,366
|
|
25,411,005
|
|||
Household Durables - 2.1%
|
|||
Cavco Industries Inc (c)
|
10,415
|
4,524,588
|
|
Ethan Allen Interiors Inc (b)
|
128,955
|
3,591,397
|
|
Flexsteel Industries Inc
|
13,592
|
489,719
|
|
Installed Building Products Inc
|
6,997
|
1,261,699
|
|
KB Home
|
48,211
|
2,553,737
|
|
M/I Homes Inc (c)
|
75,070
|
8,416,848
|
|
Meritage Homes Corp
|
171,048
|
11,455,085
|
|
Sonos Inc (c)
|
140,532
|
1,519,151
|
|
Taylor Morrison Home Corp (c)
|
92,306
|
5,669,435
|
|
39,481,659
|
|||
Leisure Products - 0.6%
|
|||
Funko Inc Class A (b)(c)
|
141,450
|
673,301
|
|
Peloton Interactive Inc Class A (c)
|
988,356
|
6,859,191
|
|
Sturm Ruger & Co Inc
|
73,763
|
2,648,092
|
|
Topgolf Callaway Brands Corp (c)
|
87,678
|
705,808
|
|
10,886,392
|
|||
Specialty Retail - 3.3%
|
|||
Abercrombie & Fitch Co Class A (c)
|
119,804
|
9,925,761
|
|
Carparts Com Inc (c)
|
327,567
|
242,431
|
|
Carvana Co Class A (c)
|
28,922
|
9,745,557
|
|
EVgo Inc Class A (b)(c)
|
225,983
|
824,838
|
|
ODP Corp/The (c)
|
121,066
|
2,194,927
|
|
Petco Health & Wellness Co Inc Class A (c)
|
2,352,049
|
6,656,299
|
|
RealReal Inc/The (b)(c)
|
237,953
|
1,139,795
|
|
Sally Beauty Holdings Inc (c)
|
720,677
|
6,673,469
|
|
Sleep Number Corp (b)(c)
|
85,441
|
577,154
|
|
Sonic Automotive Inc Class A
|
25,843
|
2,065,631
|
|
Stitch Fix Inc Class A (b)(c)
|
432,145
|
1,598,937
|
|
Upbound Group Inc
|
340,423
|
8,544,617
|
|
Urban Outfitters Inc (c)
|
167,455
|
12,147,186
|
|
62,336,602
|
|||
Textiles, Apparel & Luxury Goods - 0.3%
|
|||
Hanesbrands Inc (b)(c)
|
834,110
|
3,820,224
|
|
Oxford Industries Inc
|
27,779
|
1,118,105
|
|
Wolverine World Wide Inc
|
88,350
|
1,597,368
|
|
6,535,697
|
|||
TOTAL CONSUMER DISCRETIONARY
|
194,648,787
|
||
Consumer Staples - 2.5%
|
|||
Beverages - 0.7%
|
|||
Coca-Cola Consolidated Inc
|
54,528
|
6,088,051
|
|
National Beverage Corp (c)
|
41,162
|
1,779,845
|
|
Primo Brands Corp Class A
|
185,588
|
5,497,117
|
|
13,365,013
|
|||
Consumer Staples Distribution & Retail - 1.0%
|
|||
Natural Grocers by Vitamin Cottage Inc
|
41,199
|
1,617,061
|
|
Sprouts Farmers Market Inc (c)
|
64,421
|
10,606,273
|
|
United Natural Foods Inc (c)
|
187,254
|
4,364,891
|
|
Weis Markets Inc (b)
|
3,496
|
253,425
|
|
16,841,650
|
|||
Food Products - 0.6%
|
|||
Fresh Del Monte Produce Inc
|
99,102
|
3,212,887
|
|
Lancaster Colony Corp
|
3,149
|
544,052
|
|
Utz Brands Inc Class A
|
372,047
|
4,669,190
|
|
WK Kellogg Co (b)
|
227,225
|
3,621,967
|
|
12,048,096
|
|||
Household Products - 0.1%
|
|||
Central Garden & Pet Co Class A (c)
|
15,195
|
475,451
|
|
Energizer Holdings Inc
|
93,338
|
1,881,694
|
|
2,357,145
|
|||
Personal Care Products - 0.1%
|
|||
Honest Co Inc/The (c)
|
446,170
|
2,271,006
|
|
Medifast Inc (b)(c)
|
17,248
|
242,334
|
|
2,513,340
|
|||
TOTAL CONSUMER STAPLES
|
47,125,244
|
||
Energy - 4.0%
|
|||
Energy Equipment & Services - 1.6%
|
|||
Archrock Inc
|
59,392
|
1,474,703
|
|
Aris Water Solutions Inc Class A (b)
|
91,793
|
2,170,904
|
|
Bristow Group Inc (b)(c)
|
40,316
|
1,329,219
|
|
ChampionX Corp
|
49,439
|
1,228,065
|
|
Expro Group Holdings NV (c)
|
625,164
|
5,370,159
|
|
Helix Energy Solutions Group Inc (c)
|
311,265
|
1,942,294
|
|
Helmerich & Payne Inc (b)
|
439,033
|
6,655,740
|
|
Nabors Industries Ltd (b)(c)
|
52,325
|
1,466,147
|
|
Nabors Industries Ltd warrants 6/11/2026 (c)
|
10,764
|
7,104
|
|
Noble Corp PLC (b)
|
117,428
|
3,117,713
|
|
Oceaneering International Inc (c)
|
89,708
|
1,858,750
|
|
Oil States International Inc (c)
|
108,189
|
579,893
|
|
ProPetro Holding Corp (b)(c)
|
257,364
|
1,536,463
|
|
Solaris Energy Infrastructure Inc Class A (b)
|
22,528
|
637,317
|
|
Tidewater Inc (b)(c)
|
38,994
|
1,798,793
|
|
31,173,264
|
|||
Oil, Gas & Consumable Fuels - 2.4%
|
|||
Berry Corp
|
62,777
|
173,892
|
|
California Resources Corp
|
52,037
|
2,376,530
|
|
Core Natural Resources Inc
|
31,956
|
2,228,611
|
|
Crescent Energy Co Class A
|
389,381
|
3,348,677
|
|
Delek US Holdings Inc
|
76,758
|
1,625,734
|
|
Dorian LPG Ltd
|
151,672
|
3,697,763
|
|
Excelerate Energy Inc Class A
|
150,398
|
4,409,670
|
|
Gulfport Energy Corp (c)
|
9,344
|
1,879,732
|
|
Kinetik Holdings Inc Class A
|
10,744
|
473,273
|
|
Murphy Oil Corp (b)
|
520,840
|
11,718,901
|
|
Riley Exploration Permian Inc (b)
|
51,275
|
1,344,943
|
|
Uranium Energy Corp (b)(c)
|
142,580
|
969,544
|
|
World Kinect Corp
|
381,841
|
10,825,193
|
|
45,072,463
|
|||
TOTAL ENERGY
|
76,245,727
|
||
Financials - 18.5%
|
|||
Banks - 8.6%
|
|||
1st Source Corp
|
28,360
|
1,760,305
|
|
Amalgamated Financial Corp (b)
|
58,857
|
1,836,338
|
|
Ameris Bancorp
|
128,798
|
8,333,231
|
|
Associated Banc-Corp
|
74,166
|
1,808,909
|
|
Atlantic Union Bankshares Corp
|
28,226
|
882,909
|
|
Axos Financial Inc (c)
|
146,290
|
11,123,892
|
|
BancFirst Corp (b)
|
58,258
|
7,201,854
|
|
Bank of Hawaii Corp (b)
|
118,678
|
8,014,325
|
|
Banner Corp
|
20,853
|
1,337,720
|
|
Byline Bancorp Inc
|
18,335
|
490,095
|
|
Cathay General Bancorp
|
23,613
|
1,075,100
|
|
Central Pacific Financial Corp
|
170,691
|
4,784,469
|
|
Community Financial System Inc
|
101,668
|
5,781,859
|
|
Community Trust Bancorp Inc
|
19,292
|
1,020,933
|
|
FB Financial Corp
|
157,947
|
7,154,999
|
|
Financial Institutions Inc
|
39,759
|
1,021,011
|
|
First Busey Corp
|
173,063
|
3,960,547
|
|
First Commonwealth Financial Corp
|
215,736
|
3,501,395
|
|
First Financial Bancorp
|
99,395
|
2,411,323
|
|
First Financial Bankshares Inc
|
216,261
|
7,781,071
|
|
First Merchants Corp
|
172,570
|
6,609,431
|
|
Flushing Financial Corp
|
36,154
|
429,510
|
|
Fulton Financial Corp
|
189,456
|
3,417,786
|
|
Hancock Whitney Corp
|
16,610
|
953,414
|
|
Lakeland Financial Corp
|
112,672
|
6,923,694
|
|
Mercantile Bank Corp
|
6,353
|
294,843
|
|
Midland States Bancorp Inc
|
16,703
|
289,296
|
|
NB Bancorp Inc (b)(c)
|
188,818
|
3,372,289
|
|
Nbt Bancorp Inc (b)
|
21,657
|
899,848
|
|
Northfield Bancorp Inc
|
152,051
|
1,745,545
|
|
Northwest Bancshares Inc
|
794,695
|
10,156,202
|
|
OceanFirst Financial Corp
|
121,354
|
2,137,044
|
|
Old National Bancorp/IN
|
236,766
|
5,052,586
|
|
Park National Corp
|
25,068
|
4,192,874
|
|
Peapack-Gladstone Financial Corp
|
30,949
|
874,309
|
|
Provident Financial Services Inc
|
225,914
|
3,960,272
|
|
Renasant Corp (b)
|
63,328
|
2,275,375
|
|
S&T Bancorp Inc
|
13,623
|
515,222
|
|
Seacoast Banking Corp of Florida (b)
|
30,190
|
833,848
|
|
Sierra Bancorp
|
37,804
|
1,122,401
|
|
Stellar Bancorp Inc
|
9,019
|
252,351
|
|
Triumph Financial Inc (c)
|
6,970
|
384,117
|
|
TrustCo Bank Corp NY
|
8,262
|
276,116
|
|
UMB Financial Corp
|
20,989
|
2,207,203
|
|
United Bankshares Inc/WV
|
80,626
|
2,937,205
|
|
United Community Banks Inc/GA
|
59,861
|
1,783,259
|
|
Univest Financial Corp
|
10,072
|
302,563
|
|
Veritex Holdings Inc
|
98,127
|
2,561,115
|
|
Washington Trust Bancorp Inc
|
12,935
|
365,802
|
|
WesBanco Inc
|
357,612
|
11,311,268
|
|
Westamerica BanCorp
|
18,958
|
918,326
|
|
160,637,399
|
|||
Capital Markets - 2.7%
|
|||
Acadian Asset Management Inc
|
55,958
|
1,971,960
|
|
BGC Group Inc Class A
|
1,004,092
|
10,271,861
|
|
Federated Hermes Inc Class B
|
235,367
|
10,431,466
|
|
Oppenheimer Holdings Inc Class A
|
9,264
|
609,293
|
|
Piper Sandler Cos
|
21,782
|
6,054,089
|
|
Victory Capital Holdings Inc Class A
|
180,957
|
11,521,533
|
|
Virtus Invt Partners Inc
|
4,256
|
772,038
|
|
WisdomTree Inc (b)
|
843,655
|
9,710,469
|
|
51,342,709
|
|||
Consumer Finance - 2.3%
|
|||
Dave Inc Class A (c)
|
49,630
|
13,321,188
|
|
Encore Capital Group Inc (c)
|
94,224
|
3,647,411
|
|
EZCORP Inc Class A (b)(c)
|
340,281
|
4,723,100
|
|
FirstCash Holdings Inc
|
50,691
|
6,850,382
|
|
Lendingtree Inc (c)
|
141,984
|
5,263,347
|
|
NerdWallet Inc Class A (c)
|
232,485
|
2,550,360
|
|
PROG Holdings Inc
|
194,523
|
5,709,250
|
|
Regional Management Corp
|
31,794
|
928,703
|
|
42,993,741
|
|||
Financial Services - 1.9%
|
|||
Cannae Holdings Inc
|
37,505
|
781,979
|
|
Compass Diversified Holdings
|
185,033
|
1,162,007
|
|
Federal Agricultural Mortgage Corp Class C
|
13,297
|
2,583,341
|
|
Flywire Corp (c)
|
364,708
|
4,267,084
|
|
Merchants Bancorp/IN
|
32,041
|
1,059,596
|
|
Mr Cooper Group Inc (c)
|
31,069
|
4,635,806
|
|
NCR Atleos Corp (c)
|
31,329
|
893,816
|
|
NMI Holdings Inc (c)
|
236,223
|
9,966,249
|
|
Payoneer Global Inc (c)
|
1,470,844
|
10,075,282
|
|
Remitly Global Inc (c)
|
31,699
|
594,990
|
|
Repay Holdings Corp Class A (c)
|
80,449
|
387,764
|
|
Waterstone Financial Inc
|
43,161
|
596,053
|
|
37,003,967
|
|||
Insurance - 2.6%
|
|||
Amerisafe Inc
|
43,140
|
1,886,512
|
|
CNO Financial Group Inc
|
101,133
|
3,901,711
|
|
Genworth Financial Inc Class A (c)
|
440,871
|
3,429,976
|
|
HCI Group Inc
|
27,655
|
4,209,091
|
|
Heritage Insurance Holdings Inc (c)
|
77,764
|
1,939,434
|
|
Horace Mann Educators Corp
|
64,080
|
2,753,518
|
|
Lemonade Inc (b)(c)
|
107,379
|
4,704,274
|
|
Oscar Health Inc Class A (b)(c)
|
329,011
|
7,053,996
|
|
Root Inc/OH Class A (c)
|
20,412
|
2,612,124
|
|
Selective Insurance Group Inc
|
108,732
|
9,421,628
|
|
Selectquote Inc (c)
|
367,974
|
875,778
|
|
Trupanion Inc (c)
|
120,118
|
6,648,531
|
|
Universal Insurance Holdings Inc
|
22,585
|
626,282
|
|
50,062,855
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.4%
|
|||
ARMOUR Residential REIT Inc (b)
|
48,154
|
809,469
|
|
Brightspire Capital Inc Class A
|
73,785
|
372,613
|
|
Kkr Real Estate Finance Trust Inc (b)
|
148,110
|
1,298,925
|
|
Ladder Capital Corp Class A
|
124,081
|
1,333,871
|
|
Ready Capital Corp (b)
|
239,864
|
1,048,206
|
|
TPG RE Finance Trust Inc
|
311,887
|
2,407,768
|
|
7,270,852
|
|||
TOTAL FINANCIALS
|
349,311,523
|
||
Health Care - 14.8%
|
|||
Biotechnology - 6.5%
|
|||
89bio Inc (c)
|
207,425
|
2,036,914
|
|
ACADIA Pharmaceuticals Inc (c)
|
124,055
|
2,675,866
|
|
Adaptimmune Therapeutics Plc ADR (c)
|
123,869
|
29,691
|
|
Adicet Bio Inc (c)
|
244,002
|
148,841
|
|
ADMA Biologics Inc (c)
|
124,588
|
2,268,747
|
|
Agios Pharmaceuticals Inc (c)
|
12,929
|
430,019
|
|
Akebia Therapeutics Inc (c)
|
643,025
|
2,340,611
|
|
Akero Therapeutics Inc (c)
|
80,363
|
4,288,170
|
|
Alkermes PLC (c)
|
142,047
|
4,063,965
|
|
Altimmune Inc (c)
|
317,319
|
1,228,025
|
|
Amicus Therapeutics Inc (c)
|
318,930
|
1,827,469
|
|
Anika Therapeutics Inc (b)(c)
|
17,784
|
188,155
|
|
Arbutus Biopharma Corp (b)(c)
|
63,303
|
195,606
|
|
Arcellx Inc (c)
|
16,818
|
1,107,465
|
|
Arcus Biosciences Inc (c)
|
161,401
|
1,313,804
|
|
Arcutis Biotherapeutics Inc (b)(c)
|
106,054
|
1,486,877
|
|
ArriVent Biopharma Inc (c)
|
9,837
|
214,151
|
|
Arrowhead Pharmaceuticals Inc (c)
|
26,593
|
420,169
|
|
Atreca Inc Class A rights (c)(d)
|
1,051
|
0
|
|
Avidity Biosciences Inc (c)
|
54,287
|
1,541,751
|
|
Beam Therapeutics Inc (c)
|
25,519
|
434,078
|
|
Bicara Therapeutics Inc
|
72,495
|
673,479
|
|
BioCryst Pharmaceuticals Inc (c)
|
231,020
|
2,069,939
|
|
Biohaven Ltd (c)
|
106,754
|
1,506,299
|
|
Black Diamond Therapeutics Inc (b)(c)
|
259,178
|
642,761
|
|
Blueprint Medicines Corp (c)
|
32,304
|
4,140,727
|
|
Bridgebio Pharma Inc (c)
|
94,673
|
4,087,980
|
|
C4 Therapeutics Inc (b)(c)
|
122,922
|
175,778
|
|
Carisma Therapeutics Inc rights (c)(d)
|
304,482
|
3
|
|
Cartesian Therapeutics Inc rights (c)(d)
|
85,524
|
23,947
|
|
Catalyst Pharmaceuticals Inc (c)
|
124,792
|
2,707,986
|
|
Celldex Therapeutics Inc (c)
|
14,302
|
291,046
|
|
Cogent Biosciences Inc (c)
|
223,970
|
1,608,105
|
|
Crinetics Pharmaceuticals Inc (c)
|
38,194
|
1,098,459
|
|
Cytokinetics Inc (c)
|
57,936
|
1,914,205
|
|
Denali Therapeutics Inc (c)
|
46,815
|
654,942
|
|
Design Therapeutics Inc (c)
|
78,206
|
263,554
|
|
Dynavax Technologies Corp (b)(c)
|
150,805
|
1,495,986
|
|
Emergent BioSolutions Inc (b)(c)
|
122,649
|
782,501
|
|
Erasca Inc (c)
|
266,209
|
338,085
|
|
Halozyme Therapeutics Inc (c)
|
52,958
|
2,754,875
|
|
Ideaya Biosciences Inc (c)
|
14,131
|
297,034
|
|
Inhibrx Biosciences Inc (b)(c)
|
26,295
|
375,230
|
|
Insmed Inc (c)
|
79,743
|
8,025,336
|
|
Intellia Therapeutics Inc (b)(c)
|
167,286
|
1,569,143
|
|
Ironwood Pharmaceuticals Inc Class A (c)
|
343,807
|
246,578
|
|
iTeos Therapeutics Inc (c)
|
45,785
|
456,476
|
|
Jounce Therapeutics Inc rights (c)(d)
|
118,367
|
1
|
|
KalVista Pharmaceuticals Inc (b)(c)
|
92,452
|
1,045,170
|
|
Kiniksa Pharmaceuticals International Plc Class A (c)
|
70,602
|
1,953,557
|
|
Kodiak Sciences Inc (b)(c)
|
184,231
|
687,182
|
|
Krystal Biotech Inc (c)
|
5,933
|
815,550
|
|
Kymera Therapeutics Inc (c)
|
15,029
|
655,866
|
|
Madrigal Pharmaceuticals Inc (c)
|
10,241
|
3,099,336
|
|
Mirum Pharmaceuticals Inc (c)
|
47,026
|
2,393,153
|
|
Myriad Genetics Inc (c)
|
276,467
|
1,468,040
|
|
Neurogene Inc (b)(c)
|
43,176
|
645,481
|
|
Novavax Inc (b)(c)
|
233,806
|
1,472,978
|
|
Nurix Therapeutics Inc (c)
|
44,483
|
506,661
|
|
Nuvalent Inc Class A (c)
|
12,003
|
915,829
|
|
Oncternal Therapeutics Inc rights (b)(c)(d)
|
1,148
|
0
|
|
Organogenesis Holdings Inc Class A (b)(c)
|
158,666
|
580,718
|
|
ORIC Pharmaceuticals Inc (b)(c)
|
91,677
|
930,522
|
|
Praxis Precision Medicines Inc (c)
|
33,665
|
1,415,613
|
|
Precigen Inc (b)(c)
|
259,824
|
368,950
|
|
Protagonist Therapeutics Inc (c)
|
27,498
|
1,519,814
|
|
PTC Therapeutics Inc (c)
|
77,045
|
3,762,878
|
|
Puma Biotechnology Inc (c)
|
88,454
|
303,397
|
|
Q32 Bio Inc rights (c)(d)
|
40,603
|
0
|
|
Recursion Pharmaceuticals Inc Class A (c)
|
76,856
|
388,891
|
|
REGENXBIO Inc (b)(c)
|
160,541
|
1,318,042
|
|
Replimune Group Inc (c)
|
130,528
|
1,212,605
|
|
Revolution Medicines Inc (c)
|
98,707
|
3,631,431
|
|
Rhythm Pharmaceuticals Inc (c)
|
56,761
|
3,586,728
|
|
Rocket Pharmaceuticals Inc (c)
|
226,202
|
554,195
|
|
Sangamo Therapeutics Inc (b)(c)
|
328,034
|
177,565
|
|
Scholar Rock Holding Corp (c)
|
29,652
|
1,050,274
|
|
Soleno Therapeutics Inc (c)
|
30,147
|
2,525,716
|
|
SpringWorks Therapeutics Inc (c)
|
13,223
|
621,349
|
|
Summit Therapeutics Inc (b)(c)
|
20,775
|
442,092
|
|
Surface Oncology Inc rights (c)(d)
|
60,289
|
0
|
|
Syndax Pharmaceuticals Inc (c)
|
129,381
|
1,211,653
|
|
TG Therapeutics Inc (b)(c)
|
77,254
|
2,780,371
|
|
Tonix Pharmaceuticals Holding Corp (c)
|
12,750
|
458,745
|
|
Tourmaline Bio Inc (b)(c)
|
49,078
|
784,757
|
|
Travere Therapeutics Inc (c)
|
116,856
|
1,729,469
|
|
Twist Bioscience Corp (b)(c)
|
64,220
|
2,362,654
|
|
Upstream Bio Inc
|
60,647
|
665,904
|
|
Vanda Pharmaceuticals Inc (c)
|
108,926
|
514,131
|
|
Vaxcyte Inc (c)
|
65,810
|
2,139,483
|
|
Veracyte Inc (c)
|
89,394
|
2,416,320
|
|
Verastem Inc (c)
|
133,021
|
552,037
|
|
Vericel Corp (c)
|
15,994
|
680,545
|
|
Voyager Therapeutics Inc (c)
|
68,957
|
214,456
|
|
Xencor Inc (b)(c)
|
52,955
|
416,226
|
|
Zenas Biopharma Inc
|
36,484
|
353,530
|
|
Zentalis Pharmaceuticals Inc (c)
|
131,461
|
152,495
|
|
123,923,188
|
|||
Health Care Equipment & Supplies - 1.7%
|
|||
Accuray Inc Del (c)
|
591,125
|
809,841
|
|
AngioDynamics Inc (c)
|
80,064
|
794,235
|
|
AtriCure Inc (c)
|
78,870
|
2,584,570
|
|
Avanos Medical Inc (c)
|
201,386
|
2,464,965
|
|
Axogen Inc (c)
|
219,017
|
2,376,334
|
|
Bioventus Inc (c)
|
215,343
|
1,425,571
|
|
Cerus Corp (c)
|
556,191
|
784,229
|
|
Glaukos Corp (c)
|
34,185
|
3,530,969
|
|
Haemonetics Corp (c)
|
18,882
|
1,408,786
|
|
iRhythm Technologies Inc (c)
|
29,233
|
4,500,713
|
|
LivaNova PLC (c)
|
25,001
|
1,125,545
|
|
Omnicell Inc (c)
|
190,084
|
5,588,470
|
|
Tactile Systems Technology Inc (b)(c)
|
60,392
|
612,375
|
|
Tandem Diabetes Care Inc (c)
|
100,844
|
1,879,732
|
|
Treace Medical Concepts Inc (c)
|
67,387
|
396,235
|
|
Varex Imaging Corp (c)
|
215,220
|
1,865,957
|
|
32,148,527
|
|||
Health Care Providers & Services - 4.5%
|
|||
Alignment Healthcare Inc (c)
|
380,241
|
5,323,374
|
|
BrightSpring Health Services Inc (c)
|
228,335
|
5,386,423
|
|
Brookdale Senior Living Inc (c)
|
396,516
|
2,759,751
|
|
Castle Biosciences Inc (c)
|
23,011
|
469,884
|
|
GeneDx Holdings Corp Class A (c)
|
128,072
|
11,822,326
|
|
Guardant Health Inc (c)
|
296,824
|
15,446,721
|
|
HealthEquity Inc (c)
|
122,915
|
12,876,575
|
|
Hims & Hers Health Inc Class A (b)(c)
|
117,661
|
5,865,401
|
|
NeoGenomics Inc (c)
|
90,193
|
659,311
|
|
Option Care Health Inc (c)
|
407,024
|
13,220,140
|
|
PACS Group Inc (c)
|
167,262
|
2,161,025
|
|
Pediatrix Medical Group Inc (c)
|
197,810
|
2,838,574
|
|
Privia Health Group Inc (c)
|
114,373
|
2,630,579
|
|
Progyny Inc (c)
|
203,491
|
4,476,802
|
|
85,936,886
|
|||
Health Care Technology - 0.6%
|
|||
Health Catalyst Inc (b)(c)
|
194,464
|
733,128
|
|
HealthStream Inc
|
97,068
|
2,685,872
|
|
Phreesia Inc (c)
|
191,358
|
5,446,049
|
|
Teladoc Health Inc (c)
|
268,304
|
2,336,928
|
|
11,201,977
|
|||
Life Sciences Tools & Services - 0.3%
|
|||
Adaptive Biotechnologies Corp (c)
|
213,721
|
2,489,850
|
|
Codexis Inc (b)(c)
|
222,524
|
542,959
|
|
Cytek Biosciences Inc (c)
|
151,338
|
514,549
|
|
Medpace Holdings Inc (c)
|
3,037
|
953,193
|
|
Mesa Laboratories Inc (b)
|
2,592
|
244,218
|
|
NanoString Technologies Inc (b)(c)(d)
|
84,939
|
1
|
|
OmniAb Inc (c)
|
119,369
|
207,701
|
|
Quanterix Corp (c)
|
99,667
|
662,786
|
|
5,615,257
|
|||
Pharmaceuticals - 1.2%
|
|||
Amneal Intermediate Inc Class A (c)
|
193,007
|
1,561,427
|
|
Atea Pharmaceuticals Inc (c)
|
72,531
|
261,111
|
|
Avadel Pharmaceuticals PLC Class A (c)
|
135,936
|
1,203,034
|
|
Axsome Therapeutics Inc (c)
|
17,828
|
1,861,065
|
|
BioAge Labs Inc (b)
|
74,784
|
308,857
|
|
Collegium Pharmaceutical Inc (c)
|
37,713
|
1,115,173
|
|
Corcept Therapeutics Inc (b)(c)
|
25,862
|
1,898,271
|
|
Ligand Pharmaceuticals Inc (c)
|
18,426
|
2,094,668
|
|
MBX Biosciences Inc (b)(c)
|
46,112
|
526,138
|
|
Nuvation Bio Inc Class A (b)(c)
|
378,947
|
738,947
|
|
Pacira BioSciences Inc (c)
|
69,409
|
1,658,875
|
|
Phibro Animal Health Corp Class A
|
49,218
|
1,257,028
|
|
Prestige Consumer Healthcare Inc (c)
|
53,197
|
4,247,780
|
|
Supernus Pharmaceuticals Inc (c)
|
57,675
|
1,817,916
|
|
Tarsus Pharmaceuticals Inc (c)
|
13,001
|
526,671
|
|
WaVe Life Sciences Ltd (c)
|
82,109
|
533,709
|
|
Xeris Biopharma Holdings Inc (c)
|
230,832
|
1,077,985
|
|
22,688,655
|
|||
TOTAL HEALTH CARE
|
281,514,490
|
||
Industrials - 16.4%
|
|||
Aerospace & Defense - 1.9%
|
|||
AAR Corp (c)
|
147,475
|
10,144,805
|
|
Archer Aviation Inc Class A (b)(c)
|
428,059
|
4,644,440
|
|
Ducommun Inc (c)
|
56,559
|
4,673,470
|
|
Intuitive Machines Inc Class A (b)(c)
|
90,869
|
987,746
|
|
Kratos Defense & Security Solutions Inc (c)
|
107,351
|
4,986,454
|
|
National Presto Industries Inc (b)
|
4,013
|
393,113
|
|
Park Aerospace Corp
|
19,428
|
286,952
|
|
Rocket Lab Corp (b)
|
287,389
|
10,279,905
|
|
V2X Inc (c)
|
10,906
|
529,486
|
|
36,926,371
|
|||
Air Freight & Logistics - 0.1%
|
|||
Hub Group Inc Class A
|
37,033
|
1,238,013
|
|
Building Products - 1.1%
|
|||
Apogee Enterprises Inc
|
103,057
|
4,184,114
|
|
Gibraltar Industries Inc (c)
|
54,803
|
3,233,377
|
|
Griffon Corp
|
130,640
|
9,454,417
|
|
Resideo Technologies Inc (c)
|
162,103
|
3,575,992
|
|
Zurn Elkay Water Solutions Corp
|
17,723
|
648,130
|
|
21,096,030
|
|||
Commercial Services & Supplies - 2.1%
|
|||
ABM Industries Inc
|
216,067
|
10,200,523
|
|
BrightView Holdings Inc (c)
|
257,263
|
4,283,429
|
|
Brink's Co/The
|
25,051
|
2,236,804
|
|
CECO Environmental Corp (c)
|
149,395
|
4,229,372
|
|
Healthcare Services Group Inc (c)
|
114,718
|
1,724,212
|
|
Interface Inc
|
122,571
|
2,565,411
|
|
OPENLANE Inc (c)
|
265,127
|
6,482,355
|
|
Pitney Bowes Inc
|
389,491
|
4,249,347
|
|
Steelcase Inc Class A
|
43,408
|
452,745
|
|
UniFirst Corp/MA
|
16,403
|
3,087,373
|
|
39,511,571
|
|||
Construction & Engineering - 2.7%
|
|||
Arcosa Inc
|
99,062
|
8,589,666
|
|
Comfort Systems USA Inc
|
20,046
|
10,748,866
|
|
Dycom Industries Inc (c)
|
15,031
|
3,673,426
|
|
EMCOR Group Inc
|
20,709
|
11,077,037
|
|
Granite Construction Inc
|
22,754
|
2,127,727
|
|
Limbach Holdings Inc (b)(c)
|
13,676
|
1,916,008
|
|
MYR Group Inc (c)
|
13,112
|
2,379,172
|
|
Primoris Services Corp
|
25,254
|
1,968,297
|
|
Sterling Infrastructure Inc (c)
|
28,083
|
6,479,591
|
|
48,959,790
|
|||
Electrical Equipment - 1.7%
|
|||
Bloom Energy Corp Class A (b)(c)
|
200,810
|
4,803,375
|
|
EnerSys
|
138,840
|
11,908,307
|
|
LSI Industries Inc
|
77,575
|
1,319,550
|
|
NEXTracker Inc Class A (c)
|
67,541
|
3,672,204
|
|
NuScale Power Corp Class A (b)(c)
|
44,528
|
1,761,528
|
|
Preformed Line Products Co
|
12,620
|
2,016,802
|
|
Thermon Group Holdings Inc (c)
|
51,620
|
1,449,490
|
|
Vicor Corp (c)
|
122,916
|
5,575,470
|
|
32,506,726
|
|||
Ground Transportation - 0.5%
|
|||
ArcBest Corp
|
68,098
|
5,244,227
|
|
Marten Transport Ltd
|
354,932
|
4,610,567
|
|
9,854,794
|
|||
Machinery - 2.1%
|
|||
Atmus Filtration Technologies Inc
|
35,704
|
1,300,340
|
|
Chart Industries Inc (c)
|
19,001
|
3,128,515
|
|
Enerpac Tool Group Corp Class A
|
21,737
|
881,653
|
|
ESCO Technologies Inc
|
19,862
|
3,810,922
|
|
Federal Signal Corp
|
113,461
|
12,074,520
|
|
Franklin Electric Co Inc
|
7,359
|
660,397
|
|
Gorman-Rupp Co/The
|
9,317
|
342,120
|
|
Hillman Solutions Corp Class A (c)
|
526,569
|
3,759,703
|
|
Hurco Cos Inc (c)
|
12,537
|
236,948
|
|
Hyster-Yale Inc Class A
|
48,882
|
1,944,526
|
|
Kennametal Inc
|
25,933
|
595,422
|
|
L B Foster Co Class A (c)
|
12,275
|
268,453
|
|
Proto Labs Inc (c)
|
60,497
|
2,422,300
|
|
SPX Technologies Inc (c)
|
21,044
|
3,528,658
|
|
Tennant CO
|
6,812
|
527,794
|
|
Trinity Industries Inc
|
157,336
|
4,249,645
|
|
39,731,916
|
|||
Passenger Airlines - 0.8%
|
|||
Allegiant Travel Co (b)(c)
|
33,156
|
1,821,922
|
|
Joby Aviation Inc Class A (b)(c)
|
104,539
|
1,102,886
|
|
SkyWest Inc (c)
|
125,674
|
12,940,652
|
|
15,865,460
|
|||
Professional Services - 1.2%
|
|||
Barrett Business Services Inc
|
76,941
|
3,207,670
|
|
CRA International Inc
|
9,405
|
1,762,215
|
|
ExlService Holdings Inc (c)
|
125,750
|
5,506,593
|
|
Kelly Services Inc Class A
|
78,520
|
919,469
|
|
Maximus Inc
|
137,706
|
9,666,961
|
|
Planet Labs PBC Class A (c)
|
261,475
|
1,594,998
|
|
Willdan Group Inc (c)
|
8,938
|
558,714
|
|
23,216,620
|
|||
Trading Companies & Distributors - 2.2%
|
|||
Applied Industrial Technologies Inc
|
14,985
|
3,483,263
|
|
Boise Cascade Co
|
28,940
|
2,512,571
|
|
DNOW Inc (c)
|
214,630
|
3,182,963
|
|
DXP Enterprises Inc/TX (c)
|
102,390
|
8,974,484
|
|
FTAI Aviation Ltd
|
84,485
|
9,719,154
|
|
GATX Corp
|
10,885
|
1,671,501
|
|
Global Industrial Co
|
24,536
|
662,717
|
|
GMS Inc (c)
|
9,448
|
1,027,470
|
|
McGrath RentCorp
|
5,757
|
667,582
|
|
Mrc Global Inc (c)
|
68,978
|
945,688
|
|
Rush Enterprises Inc Class A
|
129,230
|
6,656,637
|
|
Xometry Inc Class A (c)
|
83,797
|
2,831,501
|
|
42,335,531
|
|||
TOTAL INDUSTRIALS
|
311,242,822
|
||
Information Technology - 14.6%
|
|||
Communications Equipment - 1.1%
|
|||
Applied Optoelectronics Inc (c)
|
24,199
|
621,672
|
|
Calix Inc (c)
|
39,926
|
2,123,664
|
|
CommScope Holding Co Inc (c)
|
781,106
|
6,467,558
|
|
Extreme Networks Inc (c)
|
234,459
|
4,208,539
|
|
Harmonic Inc (c)
|
25,833
|
244,638
|
|
NetScout Systems Inc (c)
|
196,252
|
4,869,012
|
|
Viavi Solutions Inc (c)
|
326,336
|
3,286,204
|
|
21,821,287
|
|||
Electronic Equipment, Instruments & Components - 2.8%
|
|||
Arlo Technologies Inc (c)
|
346,163
|
5,870,924
|
|
Benchmark Electronics Inc (b)
|
182,093
|
7,070,671
|
|
Daktronics Inc (b)(c)
|
89,672
|
1,355,841
|
|
Evolv Technologies Holdings Inc Class A (c)
|
84,978
|
530,263
|
|
Itron Inc (c)
|
69,302
|
9,122,222
|
|
Kimball Electronics Inc (c)
|
53,958
|
1,037,612
|
|
Mirion Technologies Inc Class A (c)
|
141,606
|
3,048,777
|
|
PC Connection Inc
|
52,841
|
3,475,881
|
|
Plexus Corp (c)
|
61,748
|
8,355,122
|
|
Sanmina Corp (c)
|
126,370
|
12,362,778
|
|
Vishay Intertechnology Inc
|
40,405
|
641,631
|
|
52,871,722
|
|||
IT Services - 0.1%
|
|||
Fastly Inc Class A (c)
|
217,870
|
1,538,162
|
|
Semiconductors & Semiconductor Equipment - 2.5%
|
|||
ACM Research Inc Class A (c)
|
166,841
|
4,321,182
|
|
Ambarella Inc (c)
|
179,437
|
11,854,505
|
|
Axcelis Technologies Inc (b)(c)
|
28,006
|
1,951,738
|
|
CEVA Inc (c)
|
18,005
|
395,750
|
|
Credo Technology Group Holding Ltd (c)
|
138,214
|
12,797,234
|
|
Diodes Inc (c)
|
23,282
|
1,231,385
|
|
MaxLinear Inc Class A (c)
|
556,580
|
7,909,002
|
|
PDF Solutions Inc (c)
|
104,455
|
2,233,248
|
|
Power Integrations Inc
|
17,788
|
994,349
|
|
Rigetti Computing Inc Class A (b)(c)
|
27,559
|
326,850
|
|
Semtech Corp (c)
|
33,504
|
1,512,371
|
|
Silicon Laboratories Inc (c)
|
5,376
|
792,207
|
|
Veeco Instruments Inc (b)(c)
|
43,356
|
880,994
|
|
47,200,815
|
|||
Software - 7.4%
|
|||
8x8 Inc (c)
|
894,894
|
1,753,992
|
|
ACI Worldwide Inc (c)
|
68,425
|
3,141,392
|
|
Airship AI Holdings Inc Class A (b)(c)
|
129,390
|
762,107
|
|
Alarm.com Holdings Inc (c)
|
129,082
|
7,302,169
|
|
Appian Corp Class A (c)
|
178,543
|
5,331,294
|
|
Asana Inc Class A (c)
|
532,963
|
7,195,001
|
|
Aurora Innovation Inc Class A (b)(c)
|
471,828
|
2,472,379
|
|
Blackbaud Inc (c)
|
103,819
|
6,666,218
|
|
Braze Inc Class A (c)
|
15,842
|
445,160
|
|
Clear Secure Inc Class A (b)
|
411,818
|
11,432,068
|
|
Clearwater Analytics Holdings Inc Class A (c)
|
39,524
|
866,761
|
|
Commvault Systems Inc (c)
|
50,908
|
8,874,792
|
|
Core Scientific Inc (c)
|
89,158
|
1,521,927
|
|
Domo Inc Class B (c)
|
231,002
|
3,227,098
|
|
Intapp Inc (c)
|
184,376
|
9,517,489
|
|
Jamf Holding Corp (c)
|
70,788
|
673,194
|
|
LivePerson Inc (b)(c)
|
684,717
|
691,564
|
|
LiveRamp Holdings Inc (c)
|
329,043
|
10,871,581
|
|
Meridianlink Inc (b)(c)
|
22,484
|
364,915
|
|
PagerDuty Inc (c)
|
445,088
|
6,800,945
|
|
Progress Software Corp
|
51,566
|
3,291,973
|
|
PROS Holdings Inc (c)
|
214,526
|
3,359,477
|
|
Q2 Holdings Inc (c)
|
152,939
|
14,313,561
|
|
Qualys Inc (c)
|
24,057
|
3,437,024
|
|
Rapid7 Inc (c)
|
76,690
|
1,773,840
|
|
SoundHound AI Inc Class A (b)(c)
|
100,438
|
1,077,700
|
|
Sprinklr Inc Class A (c)
|
238,527
|
2,017,938
|
|
Sprout Social Inc Class A (b)(c)
|
196,396
|
4,106,640
|
|
Tenable Holdings Inc (c)
|
370,680
|
12,521,570
|
|
Upland Software Inc (c)
|
66,708
|
130,080
|
|
Weave Communications Inc (c)
|
68,666
|
571,301
|
|
Xperi Inc (c)
|
244,745
|
1,935,933
|
|
Yext Inc (c)
|
283,449
|
2,409,317
|
|
140,858,400
|
|||
Technology Hardware, Storage & Peripherals - 0.7%
|
|||
CompoSecure Inc Class A (b)(c)
|
46,385
|
653,565
|
|
Diebold Nixdorf Inc (c)
|
79,707
|
4,415,768
|
|
Immersion Corp (b)
|
250,850
|
1,976,698
|
|
IonQ Inc (b)(c)
|
129,600
|
5,568,912
|
|
Quantum Computing Inc (c)
|
29,219
|
560,128
|
|
13,175,071
|
|||
TOTAL INFORMATION TECHNOLOGY
|
277,465,457
|
||
Materials - 5.4%
|
|||
Chemicals - 2.1%
|
|||
American Vanguard Corp (c)
|
121,706
|
477,088
|
|
Balchem Corp
|
37,392
|
5,952,806
|
|
Hawkins Inc
|
23,995
|
3,409,690
|
|
HB Fuller Co
|
181,900
|
10,941,285
|
|
Minerals Technologies Inc
|
102,695
|
5,655,414
|
|
PureCycle Technologies Inc (c)
|
28,855
|
395,313
|
|
Sensient Technologies Corp
|
127,300
|
12,541,596
|
|
Trinseo PLC (b)
|
72,513
|
226,240
|
|
39,599,432
|
|||
Construction Materials - 0.2%
|
|||
United States Lime & Minerals Inc
|
37,473
|
3,739,805
|
|
Containers & Packaging - 0.3%
|
|||
Myers Industries Inc
|
92,582
|
1,341,513
|
|
O-I Glass Inc (c)
|
313,842
|
4,626,031
|
|
5,967,544
|
|||
Metals & Mining - 2.8%
|
|||
Carpenter Technology Corp
|
37,949
|
10,488,345
|
|
Coeur Mining Inc (c)
|
1,572,947
|
13,936,310
|
|
Commercial Metals Co
|
230,221
|
11,260,109
|
|
Hecla Mining Co
|
1,349,942
|
8,086,153
|
|
Olympic Steel Inc
|
42,228
|
1,376,211
|
|
SunCoke Energy Inc
|
758,239
|
6,513,273
|
|
Worthington Steel Inc
|
26,471
|
789,630
|
|
52,450,031
|
|||
TOTAL MATERIALS
|
101,756,812
|
||
Real Estate - 5.3%
|
|||
Diversified REITs - 0.4%
|
|||
American Assets Trust Inc
|
172,848
|
3,413,748
|
|
Broadstone Net Lease Inc Class A
|
210,632
|
3,380,644
|
|
6,794,392
|
|||
Health Care REITs - 1.4%
|
|||
American Healthcare REIT Inc
|
11,399
|
418,799
|
|
CareTrust REIT Inc
|
457,561
|
14,001,367
|
|
Community Healthcare Trust Inc
|
70,762
|
1,176,772
|
|
Global Medical REIT Inc
|
172,669
|
1,196,596
|
|
Healthpeak Properties Inc
|
524,420
|
9,182,594
|
|
LTC Properties Inc
|
13,457
|
465,747
|
|
Universal Health Realty Income Trust
|
13,140
|
525,206
|
|
26,967,081
|
|||
Hotel & Resort REITs - 0.1%
|
|||
Sunstone Hotel Investors Inc
|
193,594
|
1,680,395
|
|
Industrial REITs - 0.0%
|
|||
Terreno Realty Corp
|
14,597
|
818,453
|
|
Office REITs - 0.5%
|
|||
Brandywine Realty Trust
|
96,461
|
413,818
|
|
COPT Defense Properties
|
145,206
|
4,004,781
|
|
Easterly Government Properties Inc
|
37,488
|
832,234
|
|
Empire State Realty Trust Inc Class A
|
497,400
|
4,023,966
|
|
Hudson Pacific Properties Inc (c)
|
251,980
|
690,425
|
|
9,965,224
|
|||
Real Estate Management & Development - 1.1%
|
|||
Anywhere Real Estate Inc (c)
|
618,027
|
2,237,258
|
|
Compass Inc Class A (c)
|
1,404,229
|
8,818,558
|
|
Cushman & Wakefield PLC (c)
|
480,402
|
5,318,050
|
|
eXp World Holdings Inc (b)
|
407,161
|
3,705,165
|
|
Opendoor Technologies Inc Class A (b)(c)
|
625,628
|
333,460
|
|
RE/MAX Holdings Inc Class A (c)
|
26,816
|
219,355
|
|
20,631,846
|
|||
Residential REITs - 0.2%
|
|||
Centerspace
|
15,003
|
903,031
|
|
Elme Communities
|
57,574
|
915,427
|
|
NexPoint Residential Trust Inc
|
9,833
|
327,635
|
|
Veris Residential Inc
|
61,956
|
922,525
|
|
3,068,618
|
|||
Retail REITs - 1.1%
|
|||
Alexander's Inc
|
2,102
|
473,623
|
|
CBL & Associates Properties Inc
|
13,986
|
355,104
|
|
Kite Realty Group Trust
|
141,696
|
3,209,414
|
|
Macerich Co/The
|
248,907
|
4,027,315
|
|
Phillips Edison & Co Inc
|
312,084
|
10,932,303
|
|
Urban Edge Properties
|
50,107
|
934,997
|
|
Whitestone REIT
|
123,298
|
1,538,759
|
|
21,471,515
|
|||
Specialized REITs - 0.5%
|
|||
Outfront Media Inc
|
568,603
|
9,279,601
|
|
TOTAL REAL ESTATE
|
100,677,125
|
||
Utilities - 2.5%
|
|||
Electric Utilities - 0.3%
|
|||
ALLETE Inc
|
13,749
|
880,898
|
|
Oklo Inc Class A (c)
|
59,046
|
3,305,986
|
|
TXNM Energy Inc
|
31,170
|
1,755,494
|
|
5,942,378
|
|||
Gas Utilities - 1.3%
|
|||
New Jersey Resources Corp
|
156,713
|
7,023,877
|
|
Northwest Natural Holding Co (b)
|
11,322
|
449,710
|
|
Southwest Gas Holdings Inc
|
170,836
|
12,708,490
|
|
Spire Inc
|
57,694
|
4,211,085
|
|
24,393,162
|
|||
Independent Power and Renewable Electricity Producers - 0.2%
|
|||
Hallador Energy Co (c)
|
206,077
|
3,262,199
|
|
Multi-Utilities - 0.6%
|
|||
Avista Corp
|
209,138
|
7,936,787
|
|
Black Hills Corp
|
18,210
|
1,021,581
|
|
Northwestern Energy Group Inc
|
32,551
|
1,669,866
|
|
10,628,234
|
|||
Water Utilities - 0.1%
|
|||
American States Water Co
|
7,894
|
605,154
|
|
Consolidated Water Co Ltd (b)
|
12,555
|
376,901
|
|
H2O America
|
35,552
|
1,847,638
|
|
2,829,693
|
|||
TOTAL UTILITIES
|
47,055,666
|
||
TOTAL UNITED STATES
|
1,839,197,192
|
||
TOTAL COMMON STOCKS
(Cost $1,858,976,183)
|
1,866,095,932
|
||
U.S. Treasury Obligations - 0.2%
|
||||
Yield (%) (e)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 7/10/2025
|
4.25
|
80,000
|
79,916
|
|
US Treasury Bills 0% 7/17/2025
|
4.26
|
1,560,000
|
1,557,130
|
|
US Treasury Bills 0% 8/21/2025
|
4.28 to 4.29
|
450,000
|
447,247
|
|
US Treasury Bills 0% 9/25/2025 (f)
|
4.23
|
3,100,000
|
3,068,971
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $5,153,287)
|
5,153,264
|
|||
Money Market Funds - 7.1%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (g)
|
4.32
|
26,706,784
|
26,712,125
|
|
Fidelity Securities Lending Cash Central Fund (g)(h)
|
4.32
|
107,224,840
|
107,235,562
|
|
TOTAL MONEY MARKET FUNDS
(Cost $133,947,687)
|
133,947,687
|
|||
TOTAL INVESTMENT IN SECURITIES - 105.6%
(Cost $1,998,077,157)
|
2,005,196,883
|
NET OTHER ASSETS (LIABILITIES) - (5.6)%
|
(106,173,842)
|
NET ASSETS - 100.0%
|
1,899,023,041
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
CME Russell 2000 Index Contracts (United States)
|
246
|
Sep 2025
|
26,957,910
|
849,473
|
849,473
|
The notional amount of futures purchased as a percentage of Net Assets is 1.4%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Security or a portion of the security is on loan at period end.
|
(c)
|
Non-income producing
|
(d)
|
Level 3 security
|
(e)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(f)
|
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 $2,311,629.
|
(g)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
(h)
|
Investment made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
31,391,601
|
245,272,559
|
249,952,035
|
877,330
|
-
|
-
|
26,712,125
|
26,706,784
|
0.1%
|
Fidelity Securities Lending Cash Central Fund
|
29,678,010
|
494,383,224
|
416,825,671
|
337,018
|
-
|
(1)
|
107,235,562
|
107,224,840
|
0.4%
|
Total
|
61,069,611
|
739,655,783
|
666,777,706
|
1,214,348
|
-
|
(1)
|
133,947,687
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
52,153,539
|
52,153,539
|
-
|
-
|
Consumer Discretionary
|
194,648,787
|
194,648,787
|
-
|
-
|
Consumer Staples
|
47,125,244
|
47,125,244
|
-
|
-
|
Energy
|
80,558,105
|
80,558,105
|
-
|
-
|
Financials
|
354,098,770
|
354,098,770
|
-
|
-
|
Health Care
|
285,269,949
|
285,245,997
|
-
|
23,952
|
Industrials
|
315,662,608
|
315,662,608
|
-
|
-
|
Information Technology
|
287,089,327
|
287,089,327
|
-
|
-
|
Materials
|
101,756,812
|
101,756,812
|
-
|
-
|
Real Estate
|
100,677,125
|
100,677,125
|
-
|
-
|
Utilities
|
47,055,666
|
47,055,666
|
-
|
-
|
U.S. Treasury Obligations
|
5,153,264
|
-
|
5,153,264
|
-
|
Money Market Funds
|
133,947,687
|
133,947,687
|
-
|
-
|
Total Investments in Securities:
|
2,005,196,883
|
2,000,019,667
|
5,153,264
|
23,952
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
849,473
|
849,473
|
-
|
-
|
Total Assets
|
849,473
|
849,473
|
-
|
-
|
Total Derivative Instruments:
|
849,473
|
849,473
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
849,473
|
0
|
Total Equity Risk
|
849,473
|
0
|
Total Value of Derivatives
|
849,473
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value (including securities loaned of $110,742,759) - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $1,864,129,470)
|
$
|
1,871,249,196
|
||
Fidelity Central Funds (cost $133,947,687)
|
133,947,687
|
|||
Total Investment in Securities (cost $1,998,077,157)
|
$
|
2,005,196,883
|
||
Cash
|
940,618
|
|||
Dividends receivable
|
1,347,218
|
|||
Distributions receivable from Fidelity Central Funds
|
95,815
|
|||
Receivable for daily variation margin on futures contracts
|
35,670
|
|||
Total assets
|
2,007,616,204
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
935,660
|
||
Accrued management fee
|
428,086
|
|||
Collateral on securities loaned
|
107,229,417
|
|||
Total liabilities
|
108,593,163
|
|||
Net Assets
|
$
|
1,899,023,041
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
1,995,592,618
|
||
Total accumulated earnings (loss)
|
(96,569,577)
|
|||
Net Assets
|
$
|
1,899,023,041
|
||
Net Asset Value, offering price and redemption price per share ($1,899,023,041 ÷ 59,421,356 shares)
|
$
|
31.96
|
Statement of Operations
|
||||
Year ended
June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
15,717,412
|
||
Interest
|
106,344
|
|||
Income from Fidelity Central Funds (including $337,018 from security lending)
|
1,214,348
|
|||
Total income
|
17,038,104
|
|||
Expenses
|
||||
Management fee
|
$
|
3,895,750
|
||
Independent trustees' fees and expenses
|
4,919
|
|||
Total expenses before reductions
|
3,900,669
|
|||
Expense reductions
|
(5,614)
|
|||
Total expenses after reductions
|
3,895,055
|
|||
Net Investment income (loss)
|
13,143,049
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(75,551,226)
|
|||
Redemptions in-kind
|
135,859,865
|
|||
Futures contracts
|
(1,494,935)
|
|||
Total net realized gain (loss)
|
58,813,704
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(45,591,563)
|
|||
Fidelity Central Funds
|
(1)
|
|||
Futures contracts
|
688,754
|
|||
Total change in net unrealized appreciation (depreciation)
|
(44,902,810)
|
|||
Net gain (loss)
|
13,910,894
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
27,053,943
|
Statement of Changes in Net Assets
|
||||||
Year ended
June 30, 2025
|
Four months ended
June 30, 2024
|
Year ended
February 29, 2024
|
||||
Increase (Decrease) in Net Assets
|
||||||
Operations
|
||||||
Net investment income (loss)
|
$
|
13,143,049
|
$
|
2,182,494
|
$
|
4,649,534
|
Net realized gain (loss)
|
58,813,704
|
28,074,517
|
32,794,589
|
|||
Change in net unrealized appreciation (depreciation)
|
(44,902,810)
|
(29,968,000)
|
27,704,246
|
|||
Net increase (decrease) in net assets resulting from operations
|
27,053,943
|
289,011
|
65,148,369
|
|||
Distributions to shareholders
|
(16,951,185)
|
(2,247,305)
|
(4,715,442)
|
|||
Share transactions
|
||||||
Proceeds from sales of shares
|
1,986,137,502
|
113,489,919
|
117,577,525
|
|||
Reinvestment of distributions
|
-
|
-
|
4,092,903
|
|||
Cost of shares redeemed
|
(671,389,675)
|
(43,439,075)
|
(261,496,096)
|
|||
Net increase (decrease) in net assets resulting from share transactions
|
1,314,747,827
|
70,050,844
|
(139,825,668)
|
|||
Total increase (decrease) in net assets
|
1,324,850,585
|
68,092,550
|
(79,392,741)
|
|||
Net Assets
|
||||||
Beginning of period
|
574,172,456
|
506,079,906
|
585,472,647
|
|||
End of period
|
$
|
1,899,023,041
|
$
|
574,172,456
|
$
|
506,079,906
|
Other Information
|
||||||
Shares
|
||||||
Sold
|
61,600,000
|
3,900,000
|
4,564,341
|
|||
Issued in reinvestment of distributions
|
-
|
-
|
163,135
|
|||
Redeemed
|
(21,900,000)
|
(1,500,000)
|
(10,287,720)
|
|||
Net increase (decrease)
|
39,700,000
|
2,400,000
|
(5,560,244)
|
|||
Fidelity® Enhanced Small Cap ETF |
Years ended June 30,
|
2025
|
2024 A
|
2024 B,C
|
2023 B,D
|
2022 B,D
|
2021 B,D
|
||||||
Selected Per-Share Data
|
||||||||||||
Net asset value, beginning of period
|
$
|
29.11
|
$
|
29.22
|
$
|
25.58
|
$
|
27.53
|
$
|
34.05
|
$
|
22.27
|
Income from Investment Operations
|
||||||||||||
Net investment income (loss) E,F
|
.30
|
.11
|
.22
|
.24
|
.14
|
.16
|
||||||
Net realized and unrealized gain (loss)
|
2.95
|
(.10)
|
3.65
|
(.99)
|
(.40)
|
11.80
|
||||||
Total from investment operations
|
3.25
|
.01
|
3.87
|
(.75)
|
(.26)
|
11.96
|
||||||
Distributions from net investment income
|
(.40)
|
(.12)
|
(.23)
|
(.22)
|
(.14)
|
(.18)
|
||||||
Distributions from net realized gain
|
-
|
-
|
-
|
(1.00)
|
(6.12)
|
-
|
||||||
Total distributions
|
(.40)
|
(.12)
|
(.23)
|
(1.20) G
|
(6.26)
|
(.18)
|
||||||
Net asset value, end of period
|
$
|
31.96
|
$
|
29.11
|
$
|
29.22
|
$
|
25.58
|
$
|
27.53
|
$
|
34.05
|
Total Return H,I,J
|
11.19 % |
.06%
|
15.26%
|
(2.62)%
|
(1.64)%
|
53.78%
|
||||||
Ratios to Average Net Assets F,K,L
|
||||||||||||
Expenses before reductions
|
.28%
|
.28% M,N
|
.48%
|
.55%
|
.63%
|
.64%
|
||||||
Expenses net of fee waivers, if any
|
.28 % |
.28% M,N
|
.48%
|
.55%
|
.63%
|
.64%
|
||||||
Expenses net of all reductions, if any
|
.28%
|
.28% M,N
|
.48%
|
.55%
|
.63%
|
.64%
|
||||||
Net investment income (loss)
|
.95%
|
1.20% M,N
|
.87%
|
.94%
|
.41%
|
.62%
|
||||||
Supplemental Data
|
||||||||||||
Net assets, end of period (000 omitted)
|
$
|
1,899,023
|
$
|
574,172
|
$
|
506,080
|
$
|
585,473
|
$
|
655,168
|
$
|
689,131
|
Portfolio turnover rate O
|
73 % P |
71% N,P
|
97% P
|
98%
|
96%
|
44%
|
Fidelity Central Fund
|
Investment Manager
|
Investment Objective
|
Investment Practices
|
Expense RatioA
|
Fidelity Money Market Central Funds
|
Fidelity Management & Research Company LLC (FMR)
|
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
|
Short-term Investments
|
Less than .005%
|
Gross unrealized appreciation
|
$188,731,380
|
Gross unrealized depreciation
|
(185,686,008)
|
Net unrealized appreciation (depreciation)
|
$3,045,372
|
Tax Cost
|
$2,002,151,511
|
Capital loss carryforward
|
$(97,694,871)
|
Net unrealized appreciation (depreciation) on securities and other investments
|
$3,045,372
|
Short-term
|
$(83,785,703)
|
Long-term
|
(13,909,168)
|
Total capital loss carryforward
|
$(97,694,871)
|
June 30, 2025
|
June 30, 2024
|
February 29, 2024
|
|
Ordinary Income
|
$16,951,185
|
$2,247,305
|
$4,715,442
|
Equity Risk
|
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
Average Notional Amount ($)
|
|
Fidelity Enhanced Small Cap ETF
|
18,065,320
|
Purchases ($)
|
Sales ($)
|
|
Fidelity Enhanced Small Cap ETF
|
2,015,148,232
|
937,396,088
|
In-Kind Subscriptions ($)
|
In-Kind Redemptions ($)
|
|
Fidelity Enhanced Small Cap ETF
|
886,117,923
|
645,316,021
|
Amount ($)
|
|
Fidelity Enhanced Small Cap ETF
|
98,354
|
Purchases ($)
|
Sales ($)
|
Realized Gain (Loss) ($)
|
|
Fidelity Enhanced Small Cap ETF
|
95,744,307
|
42,033,946
|
(4,193,465)
|
Total Security Lending Fees Paid to NFS ($)
|
Security Lending Income From Securities Loaned to NFS ($)
|
Value of Securities Loaned to NFS at Period End ($)
|
|
Fidelity Enhanced Small Cap ETF
|
36,126
|
1,268
|
27,681
|
Amount ($)
|
|
Fidelity Enhanced Small Cap ETF
|
5,993,091
|
Predecessor Fund/Accounting Survivor
|
Investments $
|
Unrealized appreciation (depreciation) $
|
Net Assets $
|
Shares Exchanged
|
Shares Exchanged Ratio
|
Fidelity Small Cap Enhanced Index Fund
|
510,635,061
|
30,515,551
|
511,993,789
|
20,479,785
|
.5077880000
|
Acquiring ETF
|
Net Assets $
|
Total net assets after the acquisition $
|
Fidelity Enhanced Small Cap ETF
|
25
|
511,993,814
|
Net investment income (loss)
|
$5,714,131
|
Total net realized gain (loss)
|
32,794,589
|
Total change in net unrealized appreciation (depreciation)
|
27,704,246
|
Net increase (decrease) in net assets resulting from operations
|
$66,212,966
|
A special meeting of shareholders was held on July 16, 2024. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
|
||
Proposal 1
|
||
To elect a Board of Trustees.
|
||
# of
Votes
|
% of
Votes
|
|
Bettina Doulton
|
||
Affirmative
|
38,080,283,823.03
|
97.17
|
Withheld
|
1,109,333,237.47
|
2.83
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Robert A. Lawrence
|
||
Affirmative
|
37,781,807,251.33
|
96.41
|
Withheld
|
1,407,809,809.17
|
3.59
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vijay C. Advani
|
||
Affirmative
|
37,869,526,083.09
|
96.63
|
Withheld
|
1,320,090,977.41
|
3.37
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas P. Bostick
|
||
Affirmative
|
38,025,875,898.31
|
97.03
|
Withheld
|
1,163,741,162.19
|
2.97
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Donald F. Donahue
|
||
Affirmative
|
37,825,198,238.79
|
96.52
|
Withheld
|
1,364,418,821.71
|
3.48
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Vicki L. Fuller
|
||
Affirmative
|
38,031,768,119.99
|
97.05
|
Withheld
|
1,157,848,940.51
|
2.95
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Patricia L. Kampling
|
||
Affirmative
|
38,062,391,881.90
|
97.12
|
Withheld
|
1,127,225,178.60
|
2.88
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Thomas A. Kennedy
|
||
Affirmative
|
37,891,434,776.27
|
96.69
|
Withheld
|
1,298,182,284.23
|
3.31
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Oscar Munoz
|
||
Affirmative
|
37,976,932,673.73
|
96.91
|
Withheld
|
1,212,684,386.77
|
3.09
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Karen B. Peetz
|
||
Affirmative
|
38,011,822,212.28
|
96.99
|
Withheld
|
1,177,794,848.22
|
3.01
|
TOTAL
|
39,189,617,060.50
|
100.00
|
David M. Thomas
|
||
Affirmative
|
37,976,058,118.16
|
96.90
|
Withheld
|
1,213,558,942.34
|
3.10
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Susan Tomasky
|
||
Affirmative
|
37,845,471,684.67
|
96.57
|
Withheld
|
1,344,145,375.83
|
3.43
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Michael E. Wiley
|
||
Affirmative
|
37,736,569,620.69
|
96.29
|
Withheld
|
1,453,047,439.81
|
3.71
|
TOTAL
|
39,189,617,060.50
|
100.00
|
Proposal 1 reflects trust-wide proposal and voting results.
|
![]() |
Contents
Common Stocks - 98.8%
|
|||
Shares
|
Value ($)
|
||
BRAZIL - 5.4%
|
|||
Consumer Staples - 1.0%
|
|||
Beverages - 0.7%
|
|||
Ambev SA
|
32,300
|
79,188
|
|
Food Products - 0.3%
|
|||
BRF SA ADR
|
10,089
|
36,825
|
|
TOTAL CONSUMER STAPLES
|
116,013
|
||
Energy - 1.0%
|
|||
Oil, Gas & Consumable Fuels - 1.0%
|
|||
Petroleo Brasileiro SA - Petrobras
|
18,500
|
106,851
|
|
Financials - 1.5%
|
|||
Banks - 0.9%
|
|||
Itau Unibanco Holding SA
|
8,800
|
59,848
|
|
NU Holdings Ltd/Cayman Islands Class A (b)
|
2,698
|
37,017
|
|
96,865
|
|||
Insurance - 0.6%
|
|||
BB Seguridade Participacoes SA
|
10,200
|
67,210
|
|
TOTAL FINANCIALS
|
164,075
|
||
Industrials - 1.2%
|
|||
Aerospace & Defense - 1.0%
|
|||
Embraer SA ADR
|
1,875
|
106,706
|
|
Electrical Equipment - 0.2%
|
|||
WEG SA
|
3,500
|
27,559
|
|
TOTAL INDUSTRIALS
|
134,265
|
||
Utilities - 0.7%
|
|||
Water Utilities - 0.7%
|
|||
Cia de Saneamento Basico do Estado de Sao Paulo SABESP
|
4,000
|
87,706
|
|
TOTAL BRAZIL
|
608,910
|
||
CHILE - 1.3%
|
|||
Consumer Discretionary - 1.0%
|
|||
Broadline Retail - 0.5%
|
|||
Falabella SA
|
10,148
|
53,919
|
|
Specialty Retail - 0.5%
|
|||
Empresas Copec SA
|
8,000
|
54,477
|
|
TOTAL CONSUMER DISCRETIONARY
|
108,396
|
||
Consumer Staples - 0.1%
|
|||
Consumer Staples Distribution & Retail - 0.1%
|
|||
Cencosud SA
|
4,605
|
15,669
|
|
Industrials - 0.2%
|
|||
Passenger Airlines - 0.2%
|
|||
Latam Airlines Group SA
|
926,374
|
18,754
|
|
TOTAL CHILE
|
142,819
|
||
CHINA - 31.1%
|
|||
Communication Services - 7.4%
|
|||
Entertainment - 2.0%
|
|||
Kingsoft Corp Ltd
|
13,200
|
68,775
|
|
Netease Inc
|
5,400
|
145,147
|
|
Tencent Music Entertainment Group Class A ADR
|
716
|
13,955
|
|
227,877
|
|||
Interactive Media & Services - 4.9%
|
|||
Tencent Holdings Ltd
|
8,600
|
551,061
|
|
Wireless Telecommunication Services - 0.5%
|
|||
China United Network Communications Ltd A Shares (China)
|
75,400
|
56,204
|
|
TOTAL COMMUNICATION SERVICES
|
835,142
|
||
Consumer Discretionary - 10.5%
|
|||
Automobile Components - 0.2%
|
|||
Ningbo Tuopu Group Co Ltd A Shares (China)
|
3,700
|
24,404
|
|
Automobiles - 2.6%
|
|||
BYD Co Ltd H Shares
|
9,000
|
140,447
|
|
Geely Automobile Holdings Ltd
|
37,000
|
75,226
|
|
Seres Group Co Ltd A Shares (China)
|
3,400
|
63,749
|
|
279,422
|
|||
Broadline Retail - 4.3%
|
|||
Alibaba Group Holding Ltd
|
24,600
|
344,089
|
|
JD.com Inc A Shares
|
6,100
|
99,388
|
|
PDD Holdings Inc Class A ADR (b)
|
289
|
30,246
|
|
473,723
|
|||
Hotels, Restaurants & Leisure - 2.1%
|
|||
Meituan B Shares (b)(c)(d)
|
9,100
|
145,253
|
|
Trip.com Group Ltd
|
1,550
|
90,039
|
|
235,292
|
|||
Specialty Retail - 1.3%
|
|||
Pop Mart International Group Ltd (c)(d)
|
4,400
|
149,433
|
|
TOTAL CONSUMER DISCRETIONARY
|
1,162,274
|
||
Consumer Staples - 0.5%
|
|||
Beverages - 0.5%
|
|||
Beijing Yanjing Brewery Co Ltd A Shares (China)
|
33,300
|
60,103
|
|
Energy - 0.9%
|
|||
Energy Equipment & Services - 0.2%
|
|||
CNOOC Energy Technology & Services Ltd A Shares (China)
|
44,100
|
25,116
|
|
Oil, Gas & Consumable Fuels - 0.7%
|
|||
PetroChina Co Ltd H Shares
|
83,600
|
71,886
|
|
TOTAL ENERGY
|
97,002
|
||
Financials - 2.6%
|
|||
Banks - 0.6%
|
|||
China Construction Bank Corp H Shares
|
44,700
|
45,099
|
|
Huaxia Bank Co Ltd A Shares (China)
|
17,500
|
19,323
|
|
64,422
|
|||
Capital Markets - 0.2%
|
|||
China Galaxy Securities Co Ltd H Shares
|
14,000
|
15,748
|
|
Huatai Securities Co Ltd H Shares (c)(d)
|
6,600
|
13,367
|
|
29,115
|
|||
Consumer Finance - 0.7%
|
|||
Qifu Technology Inc Class A ADR
|
1,792
|
77,701
|
|
Insurance - 1.1%
|
|||
China Life Insurance Co Ltd H Shares
|
7,000
|
16,800
|
|
People's Insurance Co Group of China Ltd/The A Shares (China)
|
16,900
|
20,547
|
|
People's Insurance Co Group of China Ltd/The H Shares
|
107,000
|
81,376
|
|
118,723
|
|||
TOTAL FINANCIALS
|
289,961
|
||
Health Care - 2.8%
|
|||
Biotechnology - 1.9%
|
|||
BeOne Medicines Ltd H Shares (b)
|
4,400
|
82,843
|
|
Innovent Biologics Inc (b)(c)(d)
|
12,500
|
124,842
|
|
207,685
|
|||
Life Sciences Tools & Services - 0.3%
|
|||
Wuxi Apptec Co Ltd A Shares (China)
|
4,700
|
45,630
|
|
Pharmaceuticals - 0.6%
|
|||
Jiangsu Hengrui Pharmaceuticals Co Ltd A Shares (China)
|
8,900
|
64,478
|
|
TOTAL HEALTH CARE
|
317,793
|
||
Industrials - 2.9%
|
|||
Air Freight & Logistics - 0.6%
|
|||
JD Logistics Inc (b)(c)(d)
|
42,500
|
71,141
|
|
Electrical Equipment - 1.0%
|
|||
Contemporary Amperex Technology Co Ltd A Shares (China)
|
1,500
|
52,811
|
|
Shanghai Electric Group Co Ltd A Shares (China) (b)
|
57,400
|
59,212
|
|
112,023
|
|||
Machinery - 0.8%
|
|||
CRRC Corp Ltd A Shares (China)
|
65,700
|
64,564
|
|
Yutong Bus Co Ltd A Shares (China)
|
6,400
|
22,209
|
|
86,773
|
|||
Marine Transportation - 0.1%
|
|||
COSCO SHIPPING Holdings Co Ltd H Shares
|
7,000
|
12,163
|
|
Passenger Airlines - 0.4%
|
|||
China Southern Airlines Co Ltd A Shares (China) (b)
|
54,000
|
44,473
|
|
TOTAL INDUSTRIALS
|
326,573
|
||
Information Technology - 2.0%
|
|||
Technology Hardware, Storage & Peripherals - 2.0%
|
|||
Xiaomi Corp B Shares (b)(c)(d)
|
29,600
|
226,055
|
|
Materials - 0.6%
|
|||
Construction Materials - 0.3%
|
|||
China National Building Material Co Ltd H Shares
|
60,000
|
28,662
|
|
Metals & Mining - 0.3%
|
|||
China Hongqiao Group Ltd
|
16,500
|
37,793
|
|
TOTAL MATERIALS
|
66,455
|
||
Real Estate - 0.3%
|
|||
Real Estate Management & Development - 0.3%
|
|||
KE Holdings Inc ADR
|
2,023
|
35,888
|
|
Utilities - 0.6%
|
|||
Water Utilities - 0.6%
|
|||
Guangdong Investment Ltd
|
84,000
|
70,197
|
|
TOTAL CHINA
|
3,487,443
|
||
EGYPT - 0.0%
|
|||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
Commercial International Bank - Egypt (CIB)
|
2,174
|
3,695
|
|
GREECE - 0.4%
|
|||
Financials - 0.4%
|
|||
Banks - 0.4%
|
|||
Eurobank Ergasias Services and Holdings SA
|
15,597
|
53,574
|
|
HUNGARY - 1.6%
|
|||
Energy - 0.7%
|
|||
Oil, Gas & Consumable Fuels - 0.7%
|
|||
MOL Hungarian Oil & Gas PLC Class A
|
8,923
|
77,695
|
|
Financials - 0.9%
|
|||
Banks - 0.9%
|
|||
OTP Bank Nyrt
|
1,271
|
101,529
|
|
TOTAL HUNGARY
|
179,224
|
||
INDIA - 15.0%
|
|||
Consumer Discretionary - 1.6%
|
|||
Automobiles - 1.6%
|
|||
Mahindra & Mahindra Ltd GDR (d)
|
4,910
|
179,706
|
|
Energy - 0.2%
|
|||
Oil, Gas & Consumable Fuels - 0.2%
|
|||
Reliance Industries Ltd GDR (c)
|
278
|
19,404
|
|
Financials - 8.1%
|
|||
Banks - 8.1%
|
|||
Axis Bank Ltd GDR (d)
|
1,963
|
136,232
|
|
HDFC Bank Ltd ADR
|
4,401
|
337,425
|
|
ICICI Bank Ltd ADR
|
8,458
|
284,527
|
|
State Bank of India GDR (d)
|
1,579
|
150,479
|
|
908,663
|
|||
Health Care - 1.5%
|
|||
Pharmaceuticals - 1.5%
|
|||
Dr Reddy's Laboratories Ltd ADR
|
11,459
|
172,229
|
|
Industrials - 0.4%
|
|||
Construction & Engineering - 0.4%
|
|||
Larsen & Toubro Ltd GDR (d)
|
1,086
|
46,481
|
|
Information Technology - 3.2%
|
|||
IT Services - 3.2%
|
|||
Infosys Ltd ADR
|
11,322
|
209,797
|
|
Wipro Ltd ADR
|
47,684
|
144,005
|
|
353,802
|
|||
TOTAL INDIA
|
1,680,285
|
||
INDONESIA - 0.8%
|
|||
Consumer Staples - 0.6%
|
|||
Food Products - 0.6%
|
|||
Indofood Sukses Makmur Tbk PT
|
138,100
|
69,114
|
|
Energy - 0.2%
|
|||
Oil, Gas & Consumable Fuels - 0.2%
|
|||
United Tractors Tbk PT
|
15,100
|
19,950
|
|
TOTAL INDONESIA
|
89,064
|
||
KOREA (SOUTH) - 12.1%
|
|||
Communication Services - 1.1%
|
|||
Interactive Media & Services - 0.6%
|
|||
NAVER Corp
|
330
|
64,017
|
|
Wireless Telecommunication Services - 0.5%
|
|||
SK Telecom Co Ltd
|
1,428
|
59,836
|
|
TOTAL COMMUNICATION SERVICES
|
123,853
|
||
Consumer Discretionary - 1.6%
|
|||
Automobile Components - 1.5%
|
|||
Hankook Tire & Technology Co Ltd
|
2,508
|
73,674
|
|
Hyundai Mobis Co Ltd
|
425
|
90,142
|
|
163,816
|
|||
Automobiles - 0.1%
|
|||
Kia Corp
|
235
|
16,828
|
|
TOTAL CONSUMER DISCRETIONARY
|
180,644
|
||
Financials - 1.4%
|
|||
Capital Markets - 1.3%
|
|||
Korea Investment Holdings Co Ltd
|
440
|
45,393
|
|
NH Investment & Securities Co Ltd
|
6,455
|
95,359
|
|
140,752
|
|||
Insurance - 0.1%
|
|||
DB Insurance Co Ltd
|
36
|
3,280
|
|
Samsung Life Insurance Co Ltd
|
105
|
9,886
|
|
13,166
|
|||
TOTAL FINANCIALS
|
153,918
|
||
Industrials - 2.4%
|
|||
Aerospace & Defense - 0.9%
|
|||
Hanwha Aerospace Co Ltd
|
169
|
105,910
|
|
Machinery - 1.1%
|
|||
HD Korea Shipbuilding & Offshore Engineering Co Ltd
|
442
|
119,552
|
|
Passenger Airlines - 0.4%
|
|||
Korean Air Lines Co Ltd
|
2,740
|
46,369
|
|
TOTAL INDUSTRIALS
|
271,831
|
||
Information Technology - 4.5%
|
|||
Semiconductors & Semiconductor Equipment - 2.4%
|
|||
SK Hynix Inc
|
1,208
|
260,678
|
|
Technology Hardware, Storage & Peripherals - 2.1%
|
|||
Samsung Electronics Co Ltd
|
5,259
|
232,411
|
|
TOTAL INFORMATION TECHNOLOGY
|
493,089
|
||
Utilities - 1.1%
|
|||
Electric Utilities - 1.1%
|
|||
Korea Electric Power Corp
|
4,435
|
128,807
|
|
TOTAL KOREA (SOUTH)
|
1,352,142
|
||
MALAYSIA - 1.1%
|
|||
Financials - 1.0%
|
|||
Banks - 1.0%
|
|||
AMMB Holdings Bhd
|
20,600
|
24,943
|
|
Malayan Banking Bhd
|
34,700
|
79,912
|
|
104,855
|
|||
Materials - 0.1%
|
|||
Chemicals - 0.1%
|
|||
Petronas Chemicals Group Bhd
|
17,500
|
14,500
|
|
TOTAL MALAYSIA
|
119,355
|
||
MEXICO - 1.3%
|
|||
Consumer Staples - 1.3%
|
|||
Beverages - 1.3%
|
|||
Arca Continental SAB de CV
|
7,500
|
79,271
|
|
Coca-Cola Femsa SAB de CV unit
|
6,500
|
62,982
|
|
TOTAL MEXICO
|
142,253
|
||
PHILIPPINES - 0.9%
|
|||
Consumer Discretionary - 0.1%
|
|||
Hotels, Restaurants & Leisure - 0.1%
|
|||
Jollibee Foods Corp
|
4,100
|
15,730
|
|
Industrials - 0.8%
|
|||
Transportation Infrastructure - 0.8%
|
|||
International Container Terminal Services Inc
|
11,210
|
81,834
|
|
TOTAL PHILIPPINES
|
97,564
|
||
POLAND - 1.1%
|
|||
Financials - 1.1%
|
|||
Banks - 0.3%
|
|||
Bank Polska Kasa Opieki SA
|
681
|
34,954
|
|
Insurance - 0.8%
|
|||
Powszechny Zaklad Ubezpieczen SA
|
5,269
|
92,096
|
|
TOTAL POLAND
|
127,050
|
||
QATAR - 0.1%
|
|||
Financials - 0.1%
|
|||
Banks - 0.1%
|
|||
Qatar Islamic Bank QPSC
|
3,823
|
23,257
|
|
SAUDI ARABIA - 1.7%
|
|||
Consumer Discretionary - 0.0%
|
|||
Specialty Retail - 0.0%
|
|||
Jarir Marketing Co
|
1,299
|
4,343
|
|
Energy - 0.1%
|
|||
Energy Equipment & Services - 0.1%
|
|||
Ades Holding Co
|
3,068
|
11,207
|
|
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Saudi Arabian Oil Co (c)(d)
|
829
|
5,376
|
|
TOTAL ENERGY
|
16,583
|
||
Financials - 1.6%
|
|||
Banks - 1.5%
|
|||
Al Rajhi Bank
|
3,966
|
100,036
|
|
Saudi Awwal Bank
|
683
|
6,137
|
|
Saudi National Bank/The
|
5,090
|
49,020
|
|
155,193
|
|||
Capital Markets - 0.1%
|
|||
Saudi Tadawul Group Holding Co
|
350
|
16,462
|
|
TOTAL FINANCIALS
|
171,655
|
||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
Saudi Arabian Mining Co (b)
|
12
|
171
|
|
TOTAL SAUDI ARABIA
|
192,752
|
||
SOUTH AFRICA - 2.1%
|
|||
Consumer Discretionary - 0.5%
|
|||
Specialty Retail - 0.5%
|
|||
Pepkor Holdings Ltd (c)(d)
|
35,169
|
54,093
|
|
Financials - 0.4%
|
|||
Banks - 0.3%
|
|||
Absa Group Ltd
|
3,751
|
37,290
|
|
Insurance - 0.1%
|
|||
Discovery Ltd
|
877
|
10,641
|
|
TOTAL FINANCIALS
|
47,931
|
||
Materials - 1.2%
|
|||
Chemicals - 0.3%
|
|||
Sasol Ltd (b)
|
7,584
|
33,740
|
|
Metals & Mining - 0.9%
|
|||
Gold Fields Ltd ADR
|
1,054
|
24,948
|
|
Harmony Gold Mining Co Ltd
|
5,346
|
73,925
|
|
98,873
|
|||
TOTAL MATERIALS
|
132,613
|
||
TOTAL SOUTH AFRICA
|
234,637
|
||
TAIWAN - 19.0%
|
|||
Consumer Discretionary - 0.2%
|
|||
Textiles, Apparel & Luxury Goods - 0.2%
|
|||
Pou Chen Corp (b)
|
28,000
|
29,659
|
|
Consumer Staples - 0.5%
|
|||
Food Products - 0.5%
|
|||
Uni-President Enterprises Corp
|
20,000
|
55,443
|
|
Financials - 2.1%
|
|||
Banks - 1.0%
|
|||
CTBC Financial Holding Co Ltd
|
75,000
|
112,170
|
|
Financial Services - 0.2%
|
|||
Yuanta Financial Holding Co Ltd
|
17,000
|
19,869
|
|
Insurance - 0.9%
|
|||
Cathay Financial Holding Co Ltd
|
10,000
|
21,493
|
|
Fubon Financial Holding Co Ltd
|
26,000
|
77,682
|
|
99,175
|
|||
TOTAL FINANCIALS
|
231,214
|
||
Industrials - 0.6%
|
|||
Marine Transportation - 0.6%
|
|||
Evergreen Marine Corp Taiwan Ltd
|
9,000
|
61,296
|
|
Passenger Airlines - 0.0%
|
|||
China Airlines Ltd
|
4,000
|
2,957
|
|
TOTAL INDUSTRIALS
|
64,253
|
||
Information Technology - 14.9%
|
|||
Electronic Equipment, Instruments & Components - 1.4%
|
|||
Delta Electronics Inc
|
8,000
|
113,077
|
|
Hon Hai Precision Industry Co Ltd
|
8,000
|
44,081
|
|
157,158
|
|||
Semiconductors & Semiconductor Equipment - 12.8%
|
|||
ASE Technology Holding Co Ltd
|
16,000
|
80,769
|
|
MediaTek Inc
|
3,000
|
128,341
|
|
Realtek Semiconductor Corp
|
5,000
|
97,026
|
|
Taiwan Semiconductor Manufacturing Co Ltd
|
31,000
|
1,124,611
|
|
1,430,747
|
|||
Technology Hardware, Storage & Peripherals - 0.7%
|
|||
Asustek Computer Inc
|
2,000
|
44,081
|
|
Compal Electronics Inc
|
36,000
|
35,730
|
|
79,811
|
|||
TOTAL INFORMATION TECHNOLOGY
|
1,667,716
|
||
Materials - 0.7%
|
|||
Construction Materials - 0.7%
|
|||
Asia Cement Corp
|
44,000
|
64,226
|
|
TCC Group Holdings Co Ltd
|
17,000
|
14,836
|
|
79,062
|
|||
TOTAL TAIWAN
|
2,127,347
|
||
THAILAND - 1.0%
|
|||
Communication Services - 0.0%
|
|||
Wireless Telecommunication Services - 0.0%
|
|||
Advanced Info Service PCL depository receipt
|
300
|
2,570
|
|
Consumer Staples - 0.6%
|
|||
Food Products - 0.6%
|
|||
Charoen Pokphand Foods PCL depository receipt
|
97,800
|
69,309
|
|
Energy - 0.2%
|
|||
Oil, Gas & Consumable Fuels - 0.2%
|
|||
PTT PCL depository receipt
|
20,300
|
18,764
|
|
Financials - 0.2%
|
|||
Banks - 0.2%
|
|||
Krung Thai Bank PCL depository receipt
|
33,100
|
21,723
|
|
TOTAL THAILAND
|
112,366
|
||
TURKEY - 0.5%
|
|||
Financials - 0.3%
|
|||
Banks - 0.3%
|
|||
Turkiye Is Bankasi AS Class C
|
102,815
|
34,472
|
|
Industrials - 0.2%
|
|||
Passenger Airlines - 0.2%
|
|||
Turk Hava Yollari AO
|
2,774
|
19,750
|
|
TOTAL TURKEY
|
54,222
|
||
UNITED ARAB EMIRATES - 1.6%
|
|||
Real Estate - 1.6%
|
|||
Real Estate Management & Development - 1.6%
|
|||
Aldar Properties PJSC
|
32,000
|
77,722
|
|
Emaar Properties PJSC
|
27,961
|
103,542
|
|
TOTAL UNITED ARAB EMIRATES
|
181,264
|
||
UNITED STATES - 0.7%
|
|||
Consumer Staples - 0.7%
|
|||
Food Products - 0.7%
|
|||
JBS NV Class A
|
5,050
|
73,781
|
|
TOTAL COMMON STOCKS
(Cost $9,676,060)
|
11,083,004
|
||
U.S. Treasury Obligations - 0.2%
|
||||
Yield (%) (e)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 7/10/2025 (f)
(Cost $19,978)
|
4.26
|
20,000
|
19,979
|
|
Money Market Funds - 0.6%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (g)
(Cost $70,825)
|
4.32
|
70,811
|
70,825
|
|
TOTAL INVESTMENT IN SECURITIES - 99.6%
(Cost $9,766,863)
|
11,173,808
|
NET OTHER ASSETS (LIABILITIES) - 0.4%
|
44,048
|
NET ASSETS - 100.0%
|
11,217,856
|
Futures Contracts
|
|||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Value ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
Purchased
|
|||||
Equity Contracts
|
|||||
ICE MSCI Emerging Markets Index Contracts (United States)
|
1
|
Sep 2025
|
61,675
|
900
|
900
|
The notional amount of futures purchased as a percentage of Net Assets is 0.5%
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing
|
(c)
|
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 $808,964 or 7.2% of net assets.
|
(d)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $1,302,458 or 11.6% of net assets.
|
(e)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(f)
|
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 $19,979.
|
(g)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
-
|
9,116,187
|
9,045,362
|
3,805
|
-
|
-
|
70,825
|
70,811
|
0.0%
|
Total
|
-
|
9,116,187
|
9,045,362
|
3,805
|
-
|
-
|
70,825
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
961,565
|
961,565
|
-
|
-
|
Consumer Discretionary
|
1,734,845
|
1,734,845
|
-
|
-
|
Consumer Staples
|
601,685
|
601,685
|
-
|
-
|
Energy
|
356,249
|
356,249
|
-
|
-
|
Financials
|
2,437,572
|
2,437,572
|
-
|
-
|
Health Care
|
490,022
|
490,022
|
-
|
-
|
Industrials
|
963,741
|
963,741
|
-
|
-
|
Information Technology
|
2,740,662
|
2,740,662
|
-
|
-
|
Materials
|
292,801
|
292,801
|
-
|
-
|
Real Estate
|
217,152
|
217,152
|
-
|
-
|
Utilities
|
286,710
|
286,710
|
-
|
-
|
U.S. Treasury Obligations
|
19,979
|
-
|
19,979
|
-
|
Money Market Funds
|
70,825
|
70,825
|
-
|
-
|
Total Investments in Securities:
|
11,173,808
|
11,153,829
|
19,979
|
-
|
Derivative Instruments:
|
||||
Assets
|
||||
Futures Contracts
|
900
|
900
|
-
|
-
|
Total Assets
|
900
|
900
|
-
|
-
|
Total Derivative Instruments:
|
900
|
900
|
-
|
-
|
Primary Risk Exposure / Derivative Type
|
Value
|
|
Asset ($)
|
Liability ($)
|
|
Equity Risk
|
||
Futures Contracts (a)
|
900
|
0
|
Total Equity Risk
|
900
|
0
|
Total Value of Derivatives
|
900
|
0
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $9,696,038)
|
$
|
11,102,983
|
||
Fidelity Central Funds (cost $70,825)
|
70,825
|
|||
Total Investment in Securities (cost $9,766,863)
|
$
|
11,173,808
|
||
Cash
|
3,288
|
|||
Foreign currency held at value (cost $2,940)
|
2,943
|
|||
Dividends receivable
|
40,784
|
|||
Distributions receivable from Fidelity Central Funds
|
402
|
|||
Receivable for daily variation margin on futures contracts
|
120
|
|||
Total assets
|
11,221,345
|
|||
Liabilities
|
||||
Accrued management fee
|
$
|
3,489
|
||
Total liabilities
|
3,489
|
|||
Net Assets
|
$
|
11,217,856
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
10,130,986
|
||
Total accumulated earnings (loss)
|
1,086,870
|
|||
Net Assets
|
$
|
11,217,856
|
||
Net Asset Value, offering price and redemption price per share ($11,217,856 ÷ 400,000 shares)
|
$
|
28.04
|
Statement of Operations
|
||||
For the period November 19, 2024 (commencement of operations) through June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
186,883
|
||
Interest
|
812
|
|||
Income from Fidelity Central Funds
|
3,805
|
|||
Total income
|
191,500
|
|||
Expenses
|
||||
Management fee
|
$
|
24,081
|
||
Independent trustees' fees and expenses
|
20
|
|||
Total expenses before reductions
|
24,101
|
|||
Expense reductions
|
(211)
|
|||
Total expenses after reductions
|
23,890
|
|||
Net Investment income (loss)
|
167,610
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(248,365)
|
|||
Redemptions in-kind
|
21,159
|
|||
Foreign currency transactions
|
722
|
|||
Futures contracts
|
(70,531)
|
|||
Total net realized gain (loss)
|
(297,015)
|
|||
Change in net unrealized appreciation (depreciation) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
1,406,945
|
|||
Assets and liabilities in foreign currencies
|
390
|
|||
Futures contracts
|
900
|
|||
Total change in net unrealized appreciation (depreciation)
|
1,408,235
|
|||
Net gain (loss)
|
1,111,220
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
1,278,830
|
Statement of Changes in Net Assets
|
||
For the period November 19, 2024 (commencement of operations) through June 30, 2025
|
||
Increase (Decrease) in Net Assets
|
||
Operations
|
||
Net investment income (loss)
|
$
|
167,610
|
Net realized gain (loss)
|
(297,015)
|
|
Change in net unrealized appreciation (depreciation)
|
1,408,235
|
|
Net increase (decrease) in net assets resulting from operations
|
1,278,830
|
|
Distributions to shareholders
|
(170,800)
|
|
Share transactions
|
||
Proceeds from sales of shares
|
12,633,157
|
|
Cost of shares redeemed
|
(2,523,331)
|
|
Net increase (decrease) in net assets resulting from share transactions
|
10,109,826
|
|
Total increase (decrease) in net assets
|
11,217,856
|
|
Net Assets
|
||
Beginning of period
|
-
|
|
End of period
|
$
|
11,217,856
|
Other Information
|
||
Shares
|
||
Sold
|
500,000
|
|
Redeemed
|
(100,000)
|
|
Net increase (decrease)
|
400,000
|
|
Fidelity® Enhanced Emerging Markets ETF |
Years ended June 30,
|
2025 A
|
|
Selected Per-Share Data
|
||
Net asset value, beginning of period
|
$
|
25.00
|
Income from Investment Operations
|
||
Net investment income (loss) B,C
|
.42
|
|
Net realized and unrealized gain (loss)
|
3.05
|
|
Total from investment operations
|
3.47
|
|
Distributions from net investment income
|
(.43)
|
|
Total distributions
|
(.43)
|
|
Net asset value, end of period
|
$
|
28.04
|
Total Return D,E,F
|
14.00 % |
|
Ratios to Average Net Assets C,G,H
|
||
Expenses before reductions
|
.38% I
|
|
Expenses net of fee waivers, if any
|
.38 % I |
|
Expenses net of all reductions, if any
|
.38% I
|
|
Net investment income (loss)
|
2.65% I
|
|
Supplemental Data
|
||
Net assets, end of period (000 omitted)
|
$
|
11,218
|
Portfolio turnover rate J
|
46 % I,K |
Common Stocks - 99.9%
|
|||
Shares
|
Value ($)
|
||
BAILIWICK OF GUERNSEY - 0.1%
|
|||
Consumer Discretionary - 0.1%
|
|||
Hotels, Restaurants & Leisure - 0.1%
|
|||
Super Group SGHC Ltd
|
256
|
2,808
|
|
BRAZIL - 0.1%
|
|||
Financials - 0.1%
|
|||
Capital Markets - 0.1%
|
|||
XP Inc Class A
|
154
|
3,111
|
|
CANADA - 0.1%
|
|||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Aurinia Pharmaceuticals Inc (a)
|
313
|
2,651
|
|
Real Estate - 0.1%
|
|||
Real Estate Management & Development - 0.1%
|
|||
Real Brokerage Inc/The (a)
|
590
|
2,661
|
|
TOTAL CANADA
|
5,312
|
||
IRELAND - 0.0%
|
|||
Industrials - 0.0%
|
|||
Commercial Services & Supplies - 0.0%
|
|||
Cimpress PLC (a)
|
57
|
2,679
|
|
KOREA (SOUTH) - 0.3%
|
|||
Consumer Discretionary - 0.3%
|
|||
Broadline Retail - 0.3%
|
|||
Coupang Inc Class A (a)
|
504
|
15,100
|
|
MONACO - 0.1%
|
|||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Scorpio Tankers Inc
|
42
|
1,643
|
|
Industrials - 0.1%
|
|||
Marine Transportation - 0.1%
|
|||
Costamare Inc
|
250
|
2,278
|
|
TOTAL MONACO
|
3,921
|
||
UNITED KINGDOM - 0.1%
|
|||
Energy - 0.1%
|
|||
Energy Equipment & Services - 0.1%
|
|||
TechnipFMC PLC
|
184
|
6,337
|
|
UNITED STATES - 99.1%
|
|||
Communication Services - 10.8%
|
|||
Diversified Telecommunication Services - 1.1%
|
|||
AT&T Inc
|
1,762
|
50,993
|
|
Bandwidth Inc Class A (a)
|
181
|
2,878
|
|
IDT Corp Class B
|
39
|
2,664
|
|
56,535
|
|||
Entertainment - 4.3%
|
|||
Electronic Arts Inc
|
114
|
18,206
|
|
Netflix Inc (a)
|
65
|
87,044
|
|
Playtika Holding Corp
|
458
|
2,166
|
|
ROBLOX Corp Class A (a)
|
247
|
25,984
|
|
Spotify Technology SA (a)
|
47
|
36,065
|
|
Walt Disney Co/The
|
457
|
56,673
|
|
226,138
|
|||
Interactive Media & Services - 4.6%
|
|||
Alphabet Inc Class A
|
511
|
90,054
|
|
Alphabet Inc Class C
|
235
|
41,686
|
|
Meta Platforms Inc Class A
|
141
|
104,071
|
|
Vimeo Inc Class A (a)
|
527
|
2,129
|
|
Yelp Inc Class A (a)
|
72
|
2,467
|
|
240,407
|
|||
Media - 0.7%
|
|||
Comcast Corp Class A
|
944
|
33,692
|
|
New York Times Co/The Class A
|
40
|
2,239
|
|
35,931
|
|||
Wireless Telecommunication Services - 0.1%
|
|||
T-Mobile US Inc
|
33
|
7,862
|
|
TOTAL COMMUNICATION SERVICES
|
566,873
|
||
Consumer Discretionary - 11.3%
|
|||
Automobile Components - 0.1%
|
|||
American Axle & Manufacturing Holdings Inc (a)
|
577
|
2,354
|
|
Phinia Inc
|
60
|
2,669
|
|
5,023
|
|||
Automobiles - 1.6%
|
|||
Ford Motor Co
|
1,712
|
18,575
|
|
General Motors Co
|
423
|
20,816
|
|
Tesla Inc (a)
|
146
|
46,378
|
|
85,769
|
|||
Broadline Retail - 2.8%
|
|||
Amazon.com Inc (a)
|
673
|
147,649
|
|
Diversified Consumer Services - 0.4%
|
|||
Adtalem Global Education Inc (a)
|
22
|
2,799
|
|
Coursera Inc (a)
|
276
|
2,418
|
|
Duolingo Inc Class A (a)
|
16
|
6,560
|
|
Frontdoor Inc (a)
|
51
|
3,006
|
|
Strategic Education Inc
|
31
|
2,639
|
|
Universal Technical Institute Inc (a)
|
75
|
2,542
|
|
19,964
|
|||
Hotels, Restaurants & Leisure - 1.9%
|
|||
Airbnb Inc Class A (a)
|
36
|
4,764
|
|
BJ's Restaurants Inc (a)
|
58
|
2,587
|
|
Booking Holdings Inc
|
2
|
11,578
|
|
Brinker International Inc (a)
|
19
|
3,426
|
|
Carnival Corp (a)
|
432
|
12,148
|
|
DoorDash Inc Class A (a)
|
154
|
37,963
|
|
Expedia Group Inc Class A
|
54
|
9,109
|
|
Global Business Travel Group I Class A (a)
|
420
|
2,646
|
|
International Game Technology PLC
|
135
|
2,134
|
|
Life Time Group Holdings Inc (a)
|
93
|
2,821
|
|
Light & Wonder Inc Class A (a)
|
17
|
1,636
|
|
Monarch Casino & Resort Inc
|
28
|
2,420
|
|
PlayAGS Inc (a)
|
197
|
2,461
|
|
Rush Street Interactive Inc Class A (a)
|
191
|
2,846
|
|
Wendy's Co/The
|
230
|
2,627
|
|
101,166
|
|||
Household Durables - 0.5%
|
|||
Cavco Industries Inc (a)
|
5
|
2,171
|
|
Cricut Inc Class A
|
402
|
2,722
|
|
Garmin Ltd
|
29
|
6,053
|
|
M/I Homes Inc (a)
|
24
|
2,691
|
|
Meritage Homes Corp
|
42
|
2,813
|
|
Sonos Inc (a)
|
237
|
2,562
|
|
Taylor Morrison Home Corp (a)
|
40
|
2,457
|
|
Toll Brothers Inc
|
43
|
4,908
|
|
26,377
|
|||
Leisure Products - 0.1%
|
|||
Hasbro Inc
|
45
|
3,322
|
|
Peloton Interactive Inc Class A (a)
|
367
|
2,547
|
|
5,869
|
|||
Specialty Retail - 3.8%
|
|||
Abercrombie & Fitch Co Class A (a)
|
38
|
3,148
|
|
AutoNation Inc (a)
|
16
|
3,178
|
|
Bath & Body Works Inc
|
97
|
2,906
|
|
Best Buy Co Inc
|
85
|
5,706
|
|
Buckle Inc/The
|
60
|
2,721
|
|
CarMax Inc (a)
|
68
|
4,570
|
|
Carvana Co Class A (a)
|
47
|
15,837
|
|
Chewy Inc Class A (a)
|
92
|
3,921
|
|
Five Below Inc (a)
|
25
|
3,280
|
|
Gap Inc/The
|
138
|
3,010
|
|
Home Depot Inc/The
|
180
|
65,996
|
|
Lithia Motors Inc Class A
|
11
|
3,716
|
|
ODP Corp/The (a)
|
147
|
2,665
|
|
Petco Health & Wellness Co Inc Class A (a)
|
920
|
2,604
|
|
Sally Beauty Holdings Inc (a)
|
285
|
2,639
|
|
Signet Jewelers Ltd
|
34
|
2,705
|
|
Stitch Fix Inc Class A (a)
|
567
|
2,098
|
|
ThredUp Inc Class A (a)
|
366
|
2,741
|
|
TJX Cos Inc/The
|
340
|
41,987
|
|
Ulta Beauty Inc (a)
|
20
|
9,356
|
|
Upbound Group Inc
|
112
|
2,811
|
|
Urban Outfitters Inc (a)
|
39
|
2,829
|
|
Williams-Sonoma Inc
|
21
|
3,431
|
|
193,855
|
|||
Textiles, Apparel & Luxury Goods - 0.1%
|
|||
Tapestry Inc
|
73
|
6,410
|
|
TOTAL CONSUMER DISCRETIONARY
|
592,082
|
||
Consumer Staples - 3.0%
|
|||
Beverages - 0.7%
|
|||
Boston Beer Co Inc/The Class A (a)
|
10
|
1,908
|
|
Coca-Cola Consolidated Inc
|
27
|
3,015
|
|
Keurig Dr Pepper Inc
|
70
|
2,314
|
|
MGP Ingredients Inc
|
19
|
569
|
|
Molson Coors Beverage Co Class B
|
10
|
481
|
|
PepsiCo Inc
|
220
|
29,049
|
|
37,336
|
|||
Consumer Staples Distribution & Retail - 1.8%
|
|||
BJ's Wholesale Club Holdings Inc (a)
|
53
|
5,715
|
|
Costco Wholesale Corp
|
4
|
3,960
|
|
Natural Grocers by Vitamin Cottage Inc
|
47
|
1,844
|
|
United Natural Foods Inc (a)
|
90
|
2,098
|
|
US Foods Holding Corp (a)
|
94
|
7,239
|
|
Village Super Market Inc Class A
|
66
|
2,541
|
|
Walmart Inc
|
719
|
70,304
|
|
93,701
|
|||
Food Products - 0.3%
|
|||
Cal-Maine Foods Inc
|
30
|
2,989
|
|
Fresh Del Monte Produce Inc
|
71
|
2,302
|
|
Hain Celestial Group Inc (a)
|
1,492
|
2,267
|
|
Tyson Foods Inc Class A
|
122
|
6,825
|
|
Utz Brands Inc Class A
|
200
|
2,510
|
|
16,893
|
|||
Household Products - 0.1%
|
|||
Kimberly-Clark Corp
|
6
|
774
|
|
Procter & Gamble Co/The
|
23
|
3,664
|
|
4,438
|
|||
Personal Care Products - 0.1%
|
|||
Honest Co Inc/The (a)
|
476
|
2,423
|
|
Nature's Sunshine Products Inc (a)
|
170
|
2,514
|
|
4,937
|
|||
TOTAL CONSUMER STAPLES
|
157,305
|
||
Energy - 2.8%
|
|||
Energy Equipment & Services - 0.1%
|
|||
Natural Gas Services Group Inc (a)
|
99
|
2,555
|
|
Oil States International Inc (a)
|
472
|
2,530
|
|
Ranger Energy Services Inc Class A
|
166
|
1,982
|
|
7,067
|
|||
Oil, Gas & Consumable Fuels - 2.7%
|
|||
Antero Midstream Corp
|
169
|
3,203
|
|
Cheniere Energy Inc
|
97
|
23,621
|
|
Devon Energy Corp
|
270
|
8,589
|
|
EOG Resources Inc
|
88
|
10,526
|
|
Excelerate Energy Inc Class A
|
90
|
2,639
|
|
Exxon Mobil Corp
|
70
|
7,546
|
|
HF Sinclair Corp
|
76
|
3,122
|
|
Kinder Morgan Inc
|
645
|
18,963
|
|
Kinetik Holdings Inc Class A
|
57
|
2,510
|
|
Marathon Petroleum Corp
|
136
|
22,591
|
|
Targa Resources Corp
|
21
|
3,656
|
|
Williams Cos Inc/The
|
532
|
33,415
|
|
140,381
|
|||
TOTAL ENERGY
|
147,448
|
||
Financials - 14.0%
|
|||
Banks - 1.1%
|
|||
Byline Bancorp Inc
|
100
|
2,673
|
|
Central Pacific Financial Corp
|
96
|
2,691
|
|
Community Trust Bancorp Inc
|
48
|
2,540
|
|
JPMorgan Chase & Co
|
117
|
33,919
|
|
Northwest Bancshares Inc
|
217
|
2,773
|
|
Old Second Bancorp Inc
|
147
|
2,608
|
|
SmartFinancial Inc
|
76
|
2,567
|
|
Third Coast Bancshares Inc (a)
|
77
|
2,516
|
|
TrustCo Bank Corp NY
|
80
|
2,674
|
|
WesBanco Inc
|
82
|
2,594
|
|
57,555
|
|||
Capital Markets - 5.5%
|
|||
Acadian Asset Management Inc
|
78
|
2,749
|
|
Bank of New York Mellon Corp/The
|
314
|
28,609
|
|
Cboe Global Markets Inc
|
45
|
10,494
|
|
Charles Schwab Corp/The
|
537
|
48,996
|
|
CME Group Inc Class A
|
148
|
40,792
|
|
Goldman Sachs Group Inc/The
|
79
|
55,913
|
|
Janus Henderson Group PLC
|
64
|
2,486
|
|
Morgan Stanley
|
330
|
46,484
|
|
Morningstar Inc
|
10
|
3,139
|
|
MSCI Inc
|
33
|
19,032
|
|
Piper Sandler Cos
|
11
|
3,057
|
|
SEI Investments Co
|
40
|
3,594
|
|
State Street Corp
|
128
|
13,612
|
|
Tradeweb Markets Inc Class A
|
50
|
7,320
|
|
WisdomTree Inc
|
244
|
2,808
|
|
289,085
|
|||
Consumer Finance - 1.0%
|
|||
Capital One Financial Corp
|
172
|
36,595
|
|
Dave Inc Class A (a)
|
12
|
3,221
|
|
Encore Capital Group Inc (a)
|
62
|
2,400
|
|
Green Dot Corp Class A (a)
|
249
|
2,684
|
|
Lendingtree Inc (a)
|
65
|
2,410
|
|
NerdWallet Inc Class A (a)
|
217
|
2,380
|
|
PROG Holdings Inc
|
89
|
2,612
|
|
52,302
|
|||
Financial Services - 4.1%
|
|||
Alerus Financial Corp
|
123
|
2,662
|
|
Berkshire Hathaway Inc Class B (a)
|
92
|
44,691
|
|
Compass Diversified Holdings
|
380
|
2,386
|
|
Euronet Worldwide Inc (a)
|
26
|
2,636
|
|
Federal Agricultural Mortgage Corp Class C
|
13
|
2,526
|
|
Fiserv Inc (a)
|
196
|
33,792
|
|
Flywire Corp (a)
|
233
|
2,726
|
|
Global Payments Inc
|
110
|
8,804
|
|
Mastercard Inc Class A
|
106
|
59,566
|
|
NMI Holdings Inc (a)
|
72
|
3,038
|
|
PayPal Holdings Inc (a)
|
426
|
31,660
|
|
Velocity Financial Inc (a)
|
134
|
2,484
|
|
Visa Inc Class A
|
57
|
20,238
|
|
217,209
|
|||
Insurance - 2.1%
|
|||
Allstate Corp/The
|
114
|
22,949
|
|
Cincinnati Financial Corp
|
56
|
8,340
|
|
Donegal Group Inc Class A
|
124
|
2,483
|
|
Globe Life Inc
|
36
|
4,474
|
|
HCI Group Inc
|
17
|
2,587
|
|
Horace Mann Educators Corp
|
60
|
2,578
|
|
Kemper Corp
|
44
|
2,840
|
|
Markel Group Inc (a)
|
5
|
9,987
|
|
Progressive Corp/The
|
175
|
46,701
|
|
Selective Insurance Group Inc
|
18
|
1,560
|
|
Selectquote Inc (a)
|
961
|
2,287
|
|
United Fire Group Inc
|
90
|
2,583
|
|
Universal Insurance Holdings Inc
|
90
|
2,496
|
|
111,865
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.2%
|
|||
Angel Oak Mortgage REIT Inc
|
76
|
715
|
|
Kkr Real Estate Finance Trust Inc
|
266
|
2,333
|
|
New York Mortgage Trust Inc
|
382
|
2,559
|
|
Rithm Capital Corp
|
275
|
3,105
|
|
8,712
|
|||
TOTAL FINANCIALS
|
736,728
|
||
Health Care - 11.4%
|
|||
Biotechnology - 3.3%
|
|||
AbbVie Inc
|
336
|
62,368
|
|
ACADIA Pharmaceuticals Inc (a)
|
125
|
2,696
|
|
Akebia Therapeutics Inc (a)
|
657
|
2,391
|
|
Alkermes PLC (a)
|
100
|
2,861
|
|
BioCryst Pharmaceuticals Inc (a)
|
247
|
2,213
|
|
Biogen Inc (a)
|
64
|
8,038
|
|
BioMarin Pharmaceutical Inc (a)
|
80
|
4,398
|
|
Black Diamond Therapeutics Inc (a)
|
317
|
786
|
|
Catalyst Pharmaceuticals Inc (a)
|
117
|
2,539
|
|
Exact Sciences Corp (a)
|
70
|
3,720
|
|
Exelixis Inc (a)
|
120
|
5,289
|
|
Gilead Sciences Inc
|
425
|
47,120
|
|
Incyte Corp (a)
|
68
|
4,631
|
|
Ironwood Pharmaceuticals Inc Class A (a)
|
1,405
|
1,008
|
|
MiMedx Group Inc (a)
|
61
|
372
|
|
Myriad Genetics Inc (a)
|
180
|
956
|
|
Natera Inc (a)
|
50
|
8,447
|
|
PTC Therapeutics Inc (a)
|
59
|
2,882
|
|
Puma Biotechnology Inc (a)
|
717
|
2,459
|
|
United Therapeutics Corp (a)
|
19
|
5,460
|
|
170,634
|
|||
Health Care Equipment & Supplies - 0.8%
|
|||
Becton Dickinson & Co
|
125
|
21,531
|
|
Boston Scientific Corp (a)
|
9
|
967
|
|
Insulet Corp (a)
|
31
|
9,740
|
|
LivaNova PLC (a)
|
62
|
2,791
|
|
Omnicell Inc (a)
|
70
|
2,058
|
|
Orthofix Medical Inc (a)
|
145
|
1,617
|
|
Surmodics Inc (a)
|
83
|
2,466
|
|
Tactile Systems Technology Inc (a)
|
139
|
1,409
|
|
42,579
|
|||
Health Care Providers & Services - 3.1%
|
|||
Alignment Healthcare Inc (a)
|
130
|
1,820
|
|
Aveanna Healthcare Holdings Inc (a)
|
520
|
2,720
|
|
Cardinal Health Inc
|
107
|
17,976
|
|
Centene Corp (a)
|
219
|
11,887
|
|
CVS Health Corp
|
549
|
37,870
|
|
Elevance Health Inc
|
92
|
35,784
|
|
Enhabit Inc (a)
|
35
|
337
|
|
GeneDx Holdings Corp Class A (a)
|
30
|
2,769
|
|
Humana Inc
|
53
|
12,957
|
|
Labcorp Holdings Inc
|
10
|
2,625
|
|
Option Care Health Inc (a)
|
93
|
3,021
|
|
Pediatrix Medical Group Inc (a)
|
176
|
2,526
|
|
Privia Health Group Inc (a)
|
128
|
2,944
|
|
Talkspace Inc Class A (a)
|
673
|
1,871
|
|
UnitedHealth Group Inc
|
75
|
23,398
|
|
160,505
|
|||
Health Care Technology - 0.5%
|
|||
Doximity Inc Class A (a)
|
58
|
3,558
|
|
HealthStream Inc
|
93
|
2,572
|
|
Phreesia Inc (a)
|
99
|
2,818
|
|
Veeva Systems Inc Class A (a)
|
65
|
18,719
|
|
27,667
|
|||
Life Sciences Tools & Services - 0.0%
|
|||
Niagen Bioscience Inc (a)
|
184
|
2,651
|
|
Pharmaceuticals - 3.7%
|
|||
Amneal Intermediate Inc Class A (a)
|
304
|
2,459
|
|
Bristol-Myers Squibb Co
|
893
|
41,337
|
|
Eli Lilly & Co
|
26
|
20,268
|
|
Jazz Pharmaceuticals PLC (a)
|
28
|
2,971
|
|
Johnson & Johnson
|
116
|
17,719
|
|
Merck & Co Inc
|
645
|
51,059
|
|
Pfizer Inc
|
1,834
|
44,457
|
|
Phibro Animal Health Corp Class A
|
106
|
2,707
|
|
Supernus Pharmaceuticals Inc (a)
|
83
|
2,616
|
|
Viatris Inc
|
520
|
4,644
|
|
Xeris Biopharma Holdings Inc (a)
|
545
|
2,545
|
|
192,782
|
|||
TOTAL HEALTH CARE
|
596,818
|
||
Industrials - 10.3%
|
|||
Aerospace & Defense - 2.3%
|
|||
Astronics Corp (a)
|
81
|
2,712
|
|
Axon Enterprise Inc (a)
|
32
|
26,494
|
|
Curtiss-Wright Corp
|
16
|
7,817
|
|
Ducommun Inc (a)
|
32
|
2,644
|
|
HEICO Corp
|
8
|
2,624
|
|
Howmet Aerospace Inc
|
176
|
32,759
|
|
Lockheed Martin Corp
|
87
|
40,293
|
|
V2X Inc (a)
|
58
|
2,816
|
|
118,159
|
|||
Air Freight & Logistics - 0.0%
|
|||
Radiant Logistics Inc (a)
|
425
|
2,584
|
|
Building Products - 1.8%
|
|||
Allegion plc
|
38
|
5,477
|
|
Apogee Enterprises Inc
|
50
|
2,029
|
|
Armstrong World Industries Inc
|
19
|
3,086
|
|
Gibraltar Industries Inc (a)
|
44
|
2,596
|
|
Griffon Corp
|
37
|
2,678
|
|
Johnson Controls International plc
|
288
|
30,419
|
|
Resideo Technologies Inc (a)
|
132
|
2,912
|
|
Trane Technologies PLC
|
98
|
42,866
|
|
92,063
|
|||
Commercial Services & Supplies - 1.3%
|
|||
ABM Industries Inc
|
49
|
2,313
|
|
BrightView Holdings Inc (a)
|
169
|
2,814
|
|
Cintas Corp
|
152
|
33,877
|
|
CoreCivic Inc (a)
|
112
|
2,360
|
|
Healthcare Services Group Inc (a)
|
175
|
2,630
|
|
Interface Inc
|
125
|
2,616
|
|
Republic Services Inc
|
90
|
22,195
|
|
68,805
|
|||
Construction & Engineering - 0.7%
|
|||
AECOM
|
56
|
6,320
|
|
Argan Inc
|
11
|
2,425
|
|
Comfort Systems USA Inc
|
15
|
8,043
|
|
EMCOR Group Inc
|
19
|
10,163
|
|
MYR Group Inc (a)
|
17
|
3,085
|
|
Sterling Infrastructure Inc (a)
|
9
|
2,077
|
|
Tutor Perini Corp (a)
|
63
|
2,947
|
|
Valmont Industries Inc
|
9
|
2,939
|
|
37,999
|
|||
Electrical Equipment - 1.1%
|
|||
Acuity Inc
|
13
|
3,878
|
|
Allient Inc
|
80
|
2,905
|
|
AMETEK Inc
|
101
|
18,278
|
|
Atkore Inc
|
41
|
2,893
|
|
EnerSys
|
33
|
2,830
|
|
LSI Industries Inc
|
139
|
2,364
|
|
nVent Electric PLC
|
72
|
5,274
|
|
Rockwell Automation Inc
|
49
|
16,276
|
|
Sensata Technologies Holding PLC
|
102
|
3,071
|
|
57,769
|
|||
Ground Transportation - 1.1%
|
|||
Lyft Inc Class A (a)
|
196
|
3,088
|
|
Uber Technologies Inc (a)
|
565
|
52,715
|
|
55,803
|
|||
Machinery - 0.5%
|
|||
Astec Industries Inc
|
60
|
2,501
|
|
ESCO Technologies Inc
|
17
|
3,262
|
|
Flowserve Corp
|
61
|
3,193
|
|
Gates Industrial Corp PLC (a)
|
141
|
3,247
|
|
Hillman Solutions Corp Class A (a)
|
248
|
1,770
|
|
Hyster-Yale Inc Class A
|
60
|
2,387
|
|
Proto Labs Inc (a)
|
64
|
2,563
|
|
Shyft Group Inc/The
|
214
|
2,684
|
|
SPX Technologies Inc (a)
|
20
|
3,354
|
|
Worthington Enterprises Inc
|
44
|
2,800
|
|
27,761
|
|||
Marine Transportation - 0.0%
|
|||
Matson Inc
|
6
|
668
|
|
Passenger Airlines - 0.0%
|
|||
SkyWest Inc (a)
|
29
|
2,986
|
|
Professional Services - 0.8%
|
|||
Amentum Holdings Inc
|
60
|
1,416
|
|
Booz Allen Hamilton Holding Corp Class A
|
56
|
5,831
|
|
Heidrick & Struggles International Inc
|
60
|
2,746
|
|
IBEX Holdings Ltd (a)
|
88
|
2,561
|
|
Legalzoom.com Inc (a)
|
280
|
2,495
|
|
Leidos Holdings Inc
|
56
|
8,835
|
|
Maximus Inc
|
32
|
2,246
|
|
Paylocity Holding Corp (a)
|
19
|
3,443
|
|
SS&C Technologies Holdings Inc
|
94
|
7,783
|
|
Willdan Group Inc (a)
|
45
|
2,813
|
|
40,169
|
|||
Trading Companies & Distributors - 0.7%
|
|||
DNOW Inc (a)
|
146
|
2,164
|
|
DXP Enterprises Inc/TX (a)
|
30
|
2,630
|
|
Global Industrial Co
|
95
|
2,566
|
|
Karat Packaging Inc
|
79
|
2,225
|
|
McGrath RentCorp
|
24
|
2,783
|
|
MSC Industrial Direct Co Inc Class A
|
35
|
2,976
|
|
Rush Enterprises Inc Class A
|
30
|
1,545
|
|
Rush Enterprises Inc Class B
|
25
|
1,312
|
|
WW Grainger Inc
|
19
|
19,765
|
|
37,966
|
|||
TOTAL INDUSTRIALS
|
542,732
|
||
Information Technology - 30.7%
|
|||
Communications Equipment - 0.7%
|
|||
Extreme Networks Inc (a)
|
166
|
2,980
|
|
Motorola Solutions Inc
|
72
|
30,273
|
|
NetScout Systems Inc (a)
|
109
|
2,704
|
|
Ribbon Communications Inc (a)
|
657
|
2,635
|
|
38,592
|
|||
Electronic Equipment, Instruments & Components - 0.2%
|
|||
Arlo Technologies Inc (a)
|
159
|
2,697
|
|
Itron Inc (a)
|
23
|
3,027
|
|
Plexus Corp (a)
|
16
|
2,165
|
|
7,889
|
|||
IT Services - 0.5%
|
|||
Backblaze Inc Class A (a)
|
44
|
241
|
|
BigCommerce Holdings Inc (a)
|
507
|
2,535
|
|
Gartner Inc (a)
|
3
|
1,213
|
|
GoDaddy Inc Class A (a)
|
61
|
10,984
|
|
Kyndryl Holdings Inc (a)
|
104
|
4,364
|
|
Twilio Inc Class A (a)
|
62
|
7,710
|
|
27,047
|
|||
Semiconductors & Semiconductor Equipment - 14.2%
|
|||
ACM Research Inc Class A (a)
|
103
|
2,668
|
|
Advanced Micro Devices Inc (a)
|
394
|
55,909
|
|
Ambarella Inc (a)
|
44
|
2,907
|
|
Analog Devices Inc
|
8
|
1,904
|
|
Applied Materials Inc
|
269
|
49,246
|
|
Axcelis Technologies Inc (a)
|
28
|
1,951
|
|
Broadcom Inc
|
539
|
148,575
|
|
Cirrus Logic Inc (a)
|
29
|
3,023
|
|
Credo Technology Group Holding Ltd (a)
|
62
|
5,741
|
|
KLA Corp
|
51
|
45,683
|
|
MACOM Technology Solutions Holdings Inc (a)
|
26
|
3,726
|
|
Marvell Technology Inc
|
37
|
2,864
|
|
NVIDIA Corp
|
2,285
|
361,007
|
|
Onto Innovation Inc (a)
|
16
|
1,615
|
|
PDF Solutions Inc (a)
|
124
|
2,651
|
|
QUALCOMM Inc
|
316
|
50,326
|
|
739,796
|
|||
Software - 10.6%
|
|||
8x8 Inc (a)
|
1,243
|
2,436
|
|
ACI Worldwide Inc (a)
|
59
|
2,709
|
|
Adobe Inc (a)
|
125
|
48,360
|
|
Alarm.com Holdings Inc (a)
|
44
|
2,489
|
|
Asana Inc Class A (a)
|
151
|
2,039
|
|
Clear Secure Inc Class A
|
90
|
2,498
|
|
Commvault Systems Inc (a)
|
19
|
3,312
|
|
Domo Inc Class B (a)
|
176
|
2,459
|
|
Fortinet Inc (a)
|
264
|
27,910
|
|
HubSpot Inc (a)
|
1
|
557
|
|
Intapp Inc (a)
|
48
|
2,478
|
|
Kaltura Inc (a)
|
1,074
|
2,159
|
|
LiveRamp Holdings Inc (a)
|
81
|
2,676
|
|
Microsoft Corp
|
578
|
287,503
|
|
OneSpan Inc
|
154
|
2,570
|
|
Ooma Inc (a)
|
206
|
2,657
|
|
PagerDuty Inc (a)
|
162
|
2,475
|
|
PROS Holdings Inc (a)
|
141
|
2,208
|
|
Q2 Holdings Inc (a)
|
32
|
2,995
|
|
Red Violet Inc
|
51
|
2,509
|
|
Salesforce Inc
|
206
|
56,174
|
|
Servicenow Inc (a)
|
48
|
49,348
|
|
Sprout Social Inc Class A (a)
|
120
|
2,509
|
|
Synchronoss Technologies Inc (a)
|
412
|
2,822
|
|
Tenable Holdings Inc (a)
|
87
|
2,939
|
|
Teradata Corp (a)
|
116
|
2,588
|
|
Weave Communications Inc (a)
|
261
|
2,172
|
|
Workday Inc Class A (a)
|
88
|
21,120
|
|
Xperi Inc (a)
|
302
|
2,389
|
|
Yext Inc (a)
|
294
|
2,499
|
|
Zoom Communications Inc Class A (a)
|
113
|
8,812
|
|
558,371
|
|||
Technology Hardware, Storage & Peripherals - 4.5%
|
|||
Apple Inc
|
1,124
|
230,611
|
|
Diebold Nixdorf Inc (a)
|
52
|
2,881
|
|
Immersion Corp
|
300
|
2,364
|
|
235,856
|
|||
TOTAL INFORMATION TECHNOLOGY
|
1,607,551
|
||
Materials - 2.9%
|
|||
Chemicals - 1.3%
|
|||
Balchem Corp
|
17
|
2,706
|
|
Corteva Inc
|
300
|
22,359
|
|
DuPont de Nemours Inc
|
34
|
2,332
|
|
Ecolab Inc
|
109
|
29,369
|
|
International Flavors & Fragrances Inc
|
112
|
8,238
|
|
Koppers Holdings Inc
|
81
|
2,604
|
|
67,608
|
|||
Construction Materials - 0.6%
|
|||
CRH PLC
|
297
|
27,265
|
|
United States Lime & Minerals Inc
|
25
|
2,495
|
|
29,760
|
|||
Containers & Packaging - 0.1%
|
|||
Amcor PLC
|
990
|
9,098
|
|
Metals & Mining - 0.9%
|
|||
Coeur Mining Inc (a)
|
348
|
3,083
|
|
Commercial Metals Co
|
62
|
3,032
|
|
Hecla Mining Co
|
479
|
2,869
|
|
Newmont Corp
|
488
|
28,432
|
|
Olympic Steel Inc
|
82
|
2,672
|
|
Royal Gold Inc
|
29
|
5,158
|
|
SunCoke Energy Inc
|
294
|
2,525
|
|
47,771
|
|||
TOTAL MATERIALS
|
154,237
|
||
Real Estate - 1.6%
|
|||
Health Care REITs - 0.4%
|
|||
CareTrust REIT Inc
|
99
|
3,029
|
|
Healthpeak Properties Inc
|
304
|
5,323
|
|
Ventas Inc
|
182
|
11,494
|
|
19,846
|
|||
Real Estate Management & Development - 0.2%
|
|||
Anywhere Real Estate Inc (a)
|
547
|
1,980
|
|
Compass Inc Class A (a)
|
345
|
2,167
|
|
Cushman & Wakefield PLC (a)
|
259
|
2,867
|
|
RE/MAX Holdings Inc Class A (a)
|
315
|
2,577
|
|
9,591
|
|||
Retail REITs - 0.1%
|
|||
Brixmor Property Group Inc
|
128
|
3,333
|
|
CBL & Associates Properties Inc
|
82
|
2,082
|
|
Phillips Edison & Co Inc
|
78
|
2,732
|
|
8,147
|
|||
Specialized REITs - 0.9%
|
|||
American Tower Corp
|
182
|
40,226
|
|
Equinix Inc
|
8
|
6,363
|
|
46,589
|
|||
TOTAL REAL ESTATE
|
84,173
|
||
Utilities - 0.3%
|
|||
Electric Utilities - 0.0%
|
|||
PG&E Corp
|
19
|
264
|
|
Gas Utilities - 0.1%
|
|||
MDU Resources Group Inc
|
156
|
2,600
|
|
Southwest Gas Holdings Inc
|
40
|
2,976
|
|
5,576
|
|||
Independent Power and Renewable Electricity Producers - 0.0%
|
|||
AES Corp/The
|
304
|
3,198
|
|
Multi-Utilities - 0.1%
|
|||
Avista Corp
|
34
|
1,290
|
|
Black Hills Corp
|
38
|
2,132
|
|
Unitil Corp
|
10
|
522
|
|
3,944
|
|||
Water Utilities - 0.1%
|
|||
Consolidated Water Co Ltd
|
59
|
1,771
|
|
H2O America
|
45
|
2,339
|
|
4,110
|
|||
TOTAL UTILITIES
|
17,092
|
||
TOTAL UNITED STATES
|
5,203,039
|
||
TOTAL COMMON STOCKS
(Cost $4,881,981)
|
5,242,307
|
||
TOTAL INVESTMENT IN SECURITIES - 99.9%
(Cost $4,881,981)
|
5,242,307
|
NET OTHER ASSETS (LIABILITIES) - 0.1%
|
7,568
|
NET ASSETS - 100.0%
|
5,249,875
|
(a)
|
Non-income producing
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
-
|
142,344
|
142,344
|
520
|
-
|
-
|
-
|
-
|
0.0%
|
Total
|
-
|
142,344
|
142,344
|
520
|
-
|
-
|
-
|
||
Valuation Inputs at Reporting Date:
|
||||
Description
|
Total ($)
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Investments in Securities:
|
||||
Common Stocks
|
||||
Communication Services
|
566,873
|
566,873
|
-
|
-
|
Consumer Discretionary
|
609,990
|
609,990
|
-
|
-
|
Consumer Staples
|
157,305
|
157,305
|
-
|
-
|
Energy
|
155,428
|
155,428
|
-
|
-
|
Financials
|
739,839
|
739,839
|
-
|
-
|
Health Care
|
599,469
|
599,469
|
-
|
-
|
Industrials
|
547,689
|
547,689
|
-
|
-
|
Information Technology
|
1,607,551
|
1,607,551
|
-
|
-
|
Materials
|
154,237
|
154,237
|
-
|
-
|
Real Estate
|
86,834
|
86,834
|
-
|
-
|
Utilities
|
17,092
|
17,092
|
-
|
-
|
Total Investments in Securities:
|
5,242,307
|
5,242,307
|
-
|
-
|
Statement of Assets and Liabilities
|
||||
As of June 30, 2025
|
||||
Assets
|
||||
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $4,881,981)
|
$
|
5,242,307
|
||
Cash
|
13,899
|
|||
Receivable for investments sold
|
273
|
|||
Dividends receivable
|
2,391
|
|||
Distributions receivable from Fidelity Central Funds
|
40
|
|||
Total assets
|
5,258,910
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
8,272
|
||
Accrued management fee
|
763
|
|||
Total liabilities
|
9,035
|
|||
Net Assets
|
$
|
5,249,875
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
4,992,949
|
||
Total accumulated earnings (loss)
|
256,926
|
|||
Net Assets
|
$
|
5,249,875
|
||
Net Asset Value, offering price and redemption price per share ($5,249,875 ÷ 200,000 shares)
|
$
|
26.25
|
Statement of Operations
|
||||
For the period November 19, 2024 (commencement of operations) through June 30, 2025
|
||||
Investment Income
|
||||
Dividends
|
$
|
36,489
|
||
Income from Fidelity Central Funds
|
520
|
|||
Total income
|
37,009
|
|||
Expenses
|
||||
Management fee
|
$
|
4,835
|
||
Independent trustees' fees and expenses
|
8
|
|||
Total expenses before reductions
|
4,843
|
|||
Expense reductions
|
(214)
|
|||
Total expenses after reductions
|
4,629
|
|||
Net Investment income (loss)
|
32,380
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(102,730)
|
|||
Total net realized gain (loss)
|
(102,730)
|
|||
Change in net unrealized appreciation (depreciation) on investment securities
|
360,326
|
|||
Net gain (loss)
|
257,596
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
289,976
|
Statement of Changes in Net Assets
|
||
For the period November 19, 2024 (commencement of operations) through June 30, 2025
|
||
Increase (Decrease) in Net Assets
|
||
Operations
|
||
Net investment income (loss)
|
$
|
32,380
|
Net realized gain (loss)
|
(102,730)
|
|
Change in net unrealized appreciation (depreciation)
|
360,326
|
|
Net increase (decrease) in net assets resulting from operations
|
289,976
|
|
Distributions to shareholders
|
(33,050)
|
|
Share transactions
|
||
Proceeds from sales of shares
|
4,992,949
|
|
Net increase (decrease) in net assets resulting from share transactions
|
4,992,949
|
|
Total increase (decrease) in net assets
|
5,249,875
|
|
Net Assets
|
||
Beginning of period
|
-
|
|
End of period
|
$
|
5,249,875
|
Other Information
|
||
Shares
|
||
Sold
|
200,000
|
|
Net increase (decrease)
|
200,000
|
|
Fidelity® Enhanced U.S. All-Cap Equity ETF |
Years ended June 30,
|
2025 A
|
|
Selected Per-Share Data
|
||
Net asset value, beginning of period
|
$
|
25.10
|
Income from Investment Operations
|
||
Net investment income (loss) B,C
|
.18
|
|
Net realized and unrealized gain (loss)
|
1.15
|
|
Total from investment operations
|
1.33
|
|
Distributions from net investment income
|
(.18)
|
|
Total distributions
|
(.18)
|
|
Net asset value, end of period
|
$
|
26.25
|
Total Return D,E,F
|
5.34 % |
|
Ratios to Average Net Assets C,G,H
|
||
Expenses before reductions
|
.18% I
|
|
Expenses net of fee waivers, if any
|
.18 % I |
|
Expenses net of all reductions, if any
|
.17% I
|
|
Net investment income (loss)
|
1.21% I
|
|
Supplemental Data
|
||
Net assets, end of period (000 omitted)
|
$
|
5,250
|
Portfolio turnover rate J
|
101 % I,K |
Fidelity Central Fund
|
Investment Manager
|
Investment Objective
|
Investment Practices
|
Expense RatioA
|
Fidelity Money Market Central Funds
|
Fidelity Management & Research Company LLC (FMR)
|
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
|
Short-term Investments
|
Less than .005%
|
Tax cost ($)
|
Gross unrealized appreciation ($)
|
Gross unrealized depreciation ($)
|
Net unrealized appreciation (depreciation)($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
9,813,034
|
1,635,811
|
(275,037)
|
1,360,774
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
4,889,044
|
536,454
|
(183,191)
|
353,263
|
Undistributed ordinary income ($)
|
Capital loss carryforward ($)
|
Net unrealized appreciation (depreciation) on securities and other investments ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
43,774
|
(318,067)
|
1,361,164
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
448
|
(96,785)
|
353,263
|
Short-term ($)
|
Long-term ($)
|
Total capital loss carryforward ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
(276,289)
|
(41,778)
|
(318,067)
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
(96,785)
|
-
|
(96,785)
|
June 30, 2025
|
|
Ordinary Income ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
170,800
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
33,050
|
Equity Risk
|
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
Average Notional Amount ($)
|
||
Fidelity Enhanced Emerging Markets ETF
|
70,229
|
Purchases ($)
|
Sales ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
12,995,262
|
2,868,335
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
2,467,670
|
2,315,986
|
In-Kind Subscriptions ($)
|
In-Kind Redemptions ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
-
|
219,397
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
4,840,684
|
-
|
Fee Rate
|
|
Fidelity Enhanced Emerging Markets ETF
|
.38%
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
.18%
|
Amount ($)
|
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
66
|
Purchases ($)
|
Sales ($)
|
Realized Gain (Loss) ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
273,101
|
78,900
|
(5,154)
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
166,887
|
23,429
|
(1,303)
|
Custodian credits ($)
|
|
Fidelity Enhanced Emerging Markets ETF
|
211
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
214
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
||
December 2024
|
83%
|
|
March 2025
|
97%
|
|
June 2025
|
97%
|
Fidelity Enhanced Emerging Markets ETF
|
|
December 2024
|
48.99%
|
March 2025
|
34.55%
|
June 2025
|
34.55%
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
|
December 2024
|
88.28%
|
March 2025
|
100.00%
|
June 2025
|
100.00%
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
|
December 2024
|
11.73%
|
Fidelity Enhanced Emerging Markets ETF
|
$4,170
|
Fidelity Enhanced U.S. All-Cap Equity ETF
|
$474
|
![]() |
Item 8.
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
See Item 7.
Item 9.
Proxy Disclosures for Open-End Management Investment Companies
See Item 7.
Item 10.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
See Item 7.
Item 11.
Statement Regarding Basis for Approval of Investment Advisory Contract
See Item 7.
Item 12.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trusts Board of Trustees.
Item 16.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trusts disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trusts internal control over financial reporting.
Item 17.
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Covington Trust
By: | /s/Stacie M. Smith |
| Stacie M. Smith |
| President and Treasurer (Principal Executive Officer) |
|
|
Date: | August 22, 2025 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
| Stacie M. Smith |
| President and Treasurer (Principal Executive Officer) |
|
|
Date: | August 22, 2025 |
By: | /s/Stephanie Caron |
| Stephanie Caron |
| Chief Financial Officer (Principal Financial Officer) |
|
|
Date: | August 22, 2025 |