Quarterly Holdings Report
for
Fidelity® Enhanced Small Cap ETF
March 31, 2026
CPE-NPRT3-0526
1.9910071.102
Common Stocks - 98.8%
 
 
Shares
Value ($)
 
BERMUDA - 0.1%
 
 
 
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Teekay Corp Ltd
 
291,062
3,553,867
CANADA - 0.6%
 
 
 
Energy - 0.3%
 
 
 
Oil, Gas & Consumable Fuels - 0.3%
 
 
 
Teekay Tankers Ltd Class A
 
138,640
10,165,085
Health Care - 0.1%
 
 
 
Biotechnology - 0.1%
 
 
 
Aurinia Pharmaceuticals Inc (b)
 
262,332
3,887,760
Xenon Pharmaceuticals Inc (b)
 
37,988
2,209,002
TOTAL HEALTH CARE
 
 
6,096,762
Information Technology - 0.1%
 
 
 
Software - 0.1%
 
 
 
D-Wave Quantum Inc (b)(c)
 
325,193
4,692,535
Materials - 0.1%
 
 
 
Metals & Mining - 0.1%
 
 
 
Novagold Resources Inc (United States) (b)
 
161,198
1,447,558
Ssr Mining Inc (United States) (b)
 
50,933
1,497,430
TOTAL MATERIALS
 
 
2,944,988
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Real Brokerage Inc/The (b)
 
150,247
375,618
TOTAL CANADA
 
 
24,274,988
DENMARK - 0.0%
 
 
 
Health Care - 0.0%
 
 
 
Pharmaceuticals - 0.0%
 
 
 
Novo Nordisk A/S rights (b)(d)
 
17,009
0
IRELAND - 0.3%
 
 
 
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
Ardmore Shipping Corp
 
32,993
503,143
Industrials - 0.3%
 
 
 
Commercial Services & Supplies - 0.3%
 
 
 
Cimpress PLC (b)(c)
 
166,140
12,128,220
TOTAL IRELAND
 
 
12,631,363
MONACO - 0.2%
 
 
 
Energy - 0.2%
 
 
 
Oil, Gas & Consumable Fuels - 0.2%
 
 
 
Scorpio Tankers Inc
 
95,042
7,095,836
NORWAY - 0.1%
 
 
 
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
SFL Corp Ltd
 
290,468
3,134,150
PANAMA - 0.1%
 
 
 
Financials - 0.1%
 
 
 
Financial Services - 0.1%
 
 
 
Banco Latinoamericano de Comercio Exterior SA Class E
 
57,005
2,911,815
PUERTO RICO - 0.0%
 
 
 
Communication Services - 0.0%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
Liberty Latin America Ltd Class C (b)
 
98,726
870,763
SINGAPORE - 0.6%
 
 
 
Communication Services - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Grindr Inc Class A (b)(c)
 
97,408
1,177,663
Information Technology - 0.6%
 
 
 
Semiconductors & Semiconductor Equipment - 0.6%
 
 
 
Kulicke & Soffa Industries Inc
 
349,964
22,999,634
TOTAL SINGAPORE
 
 
24,177,297
SOUTH AFRICA - 0.0%
 
 
 
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Caledonia Mining Corp PLC
 
18,689
422,185
SWITZERLAND - 0.1%
 
 
 
Health Care - 0.1%
 
 
 
Biotechnology - 0.1%
 
 
 
CRISPR Therapeutics AG (b)
 
112,482
5,350,769
THAILAND - 1.1%
 
 
 
Information Technology - 1.1%
 
 
 
Electronic Equipment, Instruments & Components - 1.1%
 
 
 
Fabrinet (b)
 
89,695
46,777,736
UNITED STATES - 95.6%
 
 
 
Communication Services - 2.8%
 
 
 
Diversified Telecommunication Services - 0.8%
 
 
 
Atn International Inc
 
82,089
2,234,463
Bandwidth Inc Class A (b)
 
364,560
6,496,459
Globalstar Inc (b)
 
34,075
2,263,262
Lumen Technologies Inc (b)
 
3,238,086
22,504,698
Shenandoah Telecommunications Co (c)
 
43,553
671,586
 
 
 
34,170,468
Entertainment - 0.7%
 
 
 
Cinemark Holdings Inc
 
287,993
8,213,560
Lionsgate Studios Corp
 
542,495
5,202,527
Madison Square Garden Entertainment Corp Class A (b)
 
70,096
4,129,355
Marcus Corp/The
 
47,170
809,909
Sphere Entertainment Co Class A (b)(c)
 
89,427
10,498,730
 
 
 
28,854,081
Interactive Media & Services - 0.4%
 
 
 
Nextdoor Holdings Inc Class A (b)
 
292,114
408,960
Yelp Inc Class A (b)(c)
 
607,956
15,040,831
 
 
 
15,449,791
Media - 0.9%
 
 
 
Cable One Inc (b)(c)
 
21,672
1,976,703
EchoStar Corp Class A (b)
 
94,623
11,077,515
John Wiley & Sons Inc Class A (c)
 
362,628
13,816,127
Scholastic Corp
 
36,290
1,417,487
USA TODAY Co Inc (b)(c)
 
887,140
6,254,337
 
 
 
34,542,169
TOTAL COMMUNICATION SERVICES
 
 
113,016,509
Consumer Discretionary - 8.3%
 
 
 
Automobile Components - 1.0%
 
 
 
Adient PLC (b)
 
238,947
4,829,119
Cooper-Standard Holdings Inc (b)
 
198,913
5,543,705
Dauch Corporation (b)(c)
 
682,336
4,046,252
Goodyear Tire & Rubber Co/The (b)
 
487,411
3,231,535
Phinia Inc
 
335,434
22,957,104
 
 
 
40,607,715
Automobiles - 0.1%
 
 
 
Winnebago Industries Inc
 
149,418
4,630,464
Broadline Retail - 0.0%
 
 
 
Groupon Inc (b)(c)
 
261,584
3,112,850
Distributors - 0.1%
 
 
 
Gold.com Inc
 
88,112
3,531,529
Diversified Consumer Services - 0.7%
 
 
 
Chegg Inc (b)
 
959,874
711,555
Coursera Inc (b)(c)
 
778,039
4,528,187
European Wax Center Inc Class A (b)(c)
 
31,939
184,607
Graham Holdings Co Class B
 
2,846
3,008,962
KinderCare Learning Cos Inc (b)(c)
 
232,450
511,390
Strategic Education Inc
 
78,368
6,501,409
Universal Technical Institute Inc (b)
 
313,522
11,318,144
 
 
 
26,764,254
Hotels, Restaurants & Leisure - 1.0%
 
 
 
Brightstar Lottery PLC
 
534,546
6,810,116
Life Time Group Holdings Inc (b)
 
937,562
25,257,920
Marriott Vacations Worldwide Corp
 
20,422
1,329,881
Monarch Casino & Resort Inc
 
60,391
5,773,380
Rush Street Interactive Inc Class A (b)
 
70,372
1,530,591
 
 
 
40,701,888
Household Durables - 1.7%
 
 
 
Cavco Industries Inc (b)
 
18,609
9,012,153
Ethan Allen Interiors Inc (c)
 
233,086
5,188,494
Flexsteel Industries Inc
 
24,196
1,087,368
Installed Building Products Inc
 
20,197
5,355,235
M/I Homes Inc (b)
 
135,521
16,594,546
Meritage Homes Corp
 
56,408
3,488,271
Sonos Inc (b)
 
1,675,861
22,456,537
Taylor Morrison Home Corp (b)
 
108,624
6,326,262
Tri Pointe Homes Inc (b)
 
35,778
1,671,906
 
 
 
71,180,772
Leisure Products - 0.8%
 
 
 
Callaway Golf Co (b)
 
1,364,408
18,937,983
Funko Inc Class A (b)
 
207,443
653,445
Peloton Interactive Inc Class A (b)
 
1,689,113
7,246,295
Sturm Ruger & Co Inc
 
113,335
4,543,600
 
 
 
31,381,323
Specialty Retail - 2.6%
 
 
 
Abercrombie & Fitch Co Class A (b)
 
300,695
27,474,502
American Eagle Outfitters Inc
 
563,086
9,403,536
National Vision Holdings Inc (b)
 
245
6,346
Petco Health & Wellness Co Inc Class A (b)
 
3,566,694
9,915,409
RealReal Inc/The (b)
 
874,911
7,944,192
Sally Beauty Holdings Inc (b)(c)
 
886,632
12,279,853
Sleep Number Corp (b)(c)
 
103,171
185,192
Sonic Automotive Inc Class A (c)
 
37,294
2,557,250
Stitch Fix Inc Class A (b)
 
781,786
2,587,712
ThredUp Inc Class A (b)
 
1,393,186
4,569,650
Upbound Group Inc
 
272,555
4,919,618
Urban Outfitters Inc (b)
 
379,147
24,018,962
 
 
 
105,862,222
Textiles, Apparel & Luxury Goods - 0.3%
 
 
 
Figs Inc Class A (b)
 
331,845
4,901,351
G-III Apparel Group Ltd
 
102,652
2,843,460
Wolverine World Wide Inc
 
190,420
3,107,654
 
 
 
10,852,465
TOTAL CONSUMER DISCRETIONARY
 
 
338,625,482
Consumer Staples - 0.9%
 
 
 
Beverages - 0.0%
 
 
 
National Beverage Corp (b)
 
74,257
2,498,748
Consumer Staples Distribution & Retail - 0.5%
 
 
 
Natural Grocers by Vitamin Cottage Inc
 
27,892
721,008
United Natural Foods Inc (b)
 
422,096
19,019,646
 
 
 
19,740,654
Food Products - 0.3%
 
 
 
Fresh Del Monte Produce Inc (c)
 
102,440
4,124,234
Utz Brands Inc Class A
 
1,042,314
8,255,127
 
 
 
12,379,361
Household Products - 0.1%
 
 
 
Central Garden & Pet Co Class A (b)
 
52,420
1,699,456
WD-40 Co
 
12,088
2,465,227
 
 
 
4,164,683
Personal Care Products - 0.0%
 
 
 
Honest Co Inc/The (b)(c)
 
806,932
2,372,379
TOTAL CONSUMER STAPLES
 
 
41,155,825
Energy - 7.3%
 
 
 
Energy Equipment & Services - 3.0%
 
 
 
Archrock Inc
 
707,822
24,632,206
Bristow Group Inc
 
72,579
3,403,229
Expro Group Holdings NV (b)
 
926,894
16,137,225
Forum Energy Technologies Inc (b)
 
36,644
2,149,536
Helix Energy Solutions Group Inc (b)
 
465,913
4,607,880
Helmerich & Payne Inc
 
338,685
12,202,821
Kodiak Gas Services Inc
 
37,541
2,189,390
Nabors Industries Ltd (b)
 
27,027
2,325,944
National Energy Services Reunited Corp (b)
 
239,765
5,147,755
Oceaneering International Inc (b)
 
286,386
10,158,111
Oil States International Inc (b)
 
195,556
2,276,272
ProPetro Holding Corp (b)
 
423,780
6,106,670
Solaris Energy Infrastructure Inc Class A
 
173,669
9,814,035
Transocean Ltd (b)
 
2,791,130
18,505,192
Valaris Ltd (b)
 
48,493
4,754,254
 
 
 
124,410,520
Oil, Gas & Consumable Fuels - 4.3%
 
 
 
California Resources Corp
 
406,108
28,110,796
Calumet Inc (b)
 
20,286
728,267
Core Natural Resources Inc
 
33,486
3,506,989
Crescent Energy Co Class A
 
1,006,865
13,592,678
Delek US Holdings Inc
 
560,522
25,262,727
DHT Holdings Inc
 
363,647
6,643,831
Dorian LPG Ltd
 
323,040
11,047,968
Energy Fuels Inc/Canada (United States) (b)(c)
 
137,724
2,513,463
Excelerate Energy Inc Class A
 
449,143
15,010,359
Gulfport Energy Corp (b)
 
17,311
3,662,488
Murphy Oil Corp
 
438,576
18,091,260
Nordic American Tankers Ltd (c)
 
127,986
749,998
Northern Oil & Gas Inc
 
120,312
3,516,720
Peabody Energy Corp
 
21,465
707,272
REX American Resources Corp (b)
 
10,060
458,433
Riley Exploration Permian Inc
 
119,823
4,367,548
SM Energy Co
 
356,676
11,121,158
Uranium Energy Corp (b)(c)
 
650,604
8,783,154
World Kinect Corp (c)
 
728,032
16,795,698
 
 
 
174,670,807
TOTAL ENERGY
 
 
299,081,327
Financials - 16.4%
 
 
 
Banks - 8.4%
 
 
 
1st Source Corp
 
50,995
3,529,364
Amalgamated Financial Corp
 
95,647
3,717,799
Ameris Bancorp
 
210,771
16,438,030
Associated Banc-Corp
 
352,894
9,125,839
Axos Financial Inc (b)
 
66,114
5,625,640
Banc of California Inc
 
500,932
8,806,385
BancFirst Corp
 
43,622
4,732,987
Bank of Hawaii Corp (c)
 
197,336
14,652,198
Banner Corp
 
37,476
2,274,044
Byline Bancorp Inc
 
32,792
1,035,243
Central Pacific Financial Corp
 
219,813
7,025,223
Community Financial System Inc
 
42,725
2,505,821
Community Trust Bancorp Inc
 
34,687
2,106,195
Eastern Bankshares Inc
 
1,326,859
25,953,363
FB Financial Corp
 
318,992
16,568,444
Financial Institutions Inc
 
71,542
2,268,597
First Busey Corp
 
312,964
7,908,600
First Commonwealth Financial Corp
 
485,556
8,536,074
First Financial Bankshares Inc
 
356,237
10,491,180
First Merchants Corp
 
323,463
12,527,722
Flushing Financial Corp
 
65,045
999,091
Glacier Bancorp Inc
 
341,580
15,258,379
Heritage Commerce Corp
 
32,479
405,338
Heritage Financial Corp Wash (c)
 
16,198
421,148
Hilltop Holdings Inc (c)
 
102,969
3,688,350
Huntington Bancshares Inc/OH
 
38,293
599,285
Lakeland Financial Corp
 
203,486
11,676,027
Mercantile Bank Corp
 
11,173
564,237
Midland States Bancorp Inc
 
29,952
668,229
National Bank Holdings Corp Class A
 
44,875
1,757,305
NB Bancorp Inc (c)
 
341,269
7,190,538
Nbt Bancorp Inc
 
78,086
3,324,902
Nicolet Bankshares Inc (c)
 
34,525
5,131,106
Northfield Bancorp Inc
 
274,649
3,718,747
Northwest Bancshares Inc
 
1,258,429
15,969,464
OceanFirst Financial Corp
 
219,352
3,957,110
Old National Bancorp/IN
 
176,582
3,902,462
Origin Bancorp Inc
 
10,834
449,178
Park National Corp
 
42,564
6,957,086
Peapack-Gladstone Financial Corp
 
55,745
1,962,781
Provident Financial Services Inc (c)
 
365,868
7,741,767
Renasant Corp
 
31,620
1,142,431
S&T Bancorp Inc
 
24,227
1,013,415
Seacoast Banking Corp of Florida
 
24,263
734,926
Sierra Bancorp
 
68,139
2,311,275
Simmons First National Corp Class A
 
927,056
18,031,239
Stellar Bancorp Inc
 
47,612
1,743,075
Texas Capital Bancshares Inc (b)
 
52,847
5,014,123
TrustCo Bank Corp NY
 
14,528
636,036
United Bankshares Inc/WV
 
145,634
6,032,160
United Community Bank/SC
 
411,894
12,970,542
Washington Trust Bancorp Inc
 
23,057
771,487
WesBanco Inc
 
675,291
23,290,787
Westamerica BanCorp
 
9,208
480,197
WSFS Financial Corp
 
47,540
3,111,968
 
 
 
339,454,939
Capital Markets - 2.6%
 
 
 
Acadian Asset Management Inc
 
165,679
9,016,251
BGC Group Inc Class A
 
1,816,497
17,765,341
Cohen & Steers Inc
 
91,540
5,725,827
DigitalBridge Group Inc Class A (c)
 
144,379
2,226,324
Federated Hermes Inc Class B
 
263,428
14,939,002
Oppenheimer Holdings Inc Class A
 
16,494
1,471,100
Piper Sandler Cos
 
43,304
3,314,921
StepStone Group Inc Class A
 
101,972
4,866,104
StoneX Group Inc (b)
 
312,895
25,234,982
Virtus Invt Partners Inc
 
10,944
1,470,326
WisdomTree Inc (c)
 
1,299,845
18,925,743
 
 
 
104,955,921
Consumer Finance - 2.3%
 
 
 
Bread Financial Holdings Inc
 
26,414
1,978,144
Dave Inc Class A (b)
 
28,655
4,988,549
Encore Capital Group Inc (b)
 
260,533
18,268,575
Enova International Inc (b)
 
113,127
15,366,040
EZCORP Inc Class A (b)
 
649,738
16,490,351
FirstCash Holdings Inc
 
75,909
14,270,892
Lendingtree Inc (b)
 
170,022
7,290,543
NerdWallet Inc Class A (b)
 
420,551
4,365,319
PROG Holdings Inc
 
384,611
11,034,490
Regional Management Corp (c)
 
57,309
1,848,215
 
 
 
95,901,118
Financial Services - 1.2%
 
 
 
Compass Diversified Holdings
 
108,318
851,379
Essent Group Ltd
 
98,762
5,771,651
Flywire Corp (b)
 
659,479
7,676,336
NCR Atleos Corp (b)
 
139,258
6,068,864
NMI Holdings Inc (b)
 
427,181
16,023,560
Payoneer Global Inc (b)
 
2,661,168
12,853,441
Repay Holdings Corp Class A (b)(c)
 
145,238
377,619
Waterstone Financial Inc
 
65,501
1,180,983
 
 
 
50,803,833
Insurance - 1.7%
 
 
 
Amerisafe Inc
 
41,358
1,378,462
CNO Financial Group Inc
 
182,755
7,503,920
Genworth Financial Inc Class A (b)
 
797,299
6,474,068
HCI Group Inc
 
89,076
13,772,040
Heritage Insurance Holdings Inc (b)
 
104,839
2,752,024
Horace Mann Educators Corp
 
209,917
8,959,258
Oscar Health Inc Class A (b)
 
180,149
2,066,309
Palomar Hldgs Inc (b)
 
55
6,572
Selective Insurance Group Inc
 
156,600
11,806,074
Selectquote Inc (b)
 
665,631
419,015
Skyward Specialty Insurance Group Inc (b)
 
138,900
6,067,152
Stewart Information Services Corp
 
19,980
1,230,368
Trupanion Inc (b)
 
258,362
6,616,651
Universal Insurance Holdings Inc
 
40,504
1,383,617
 
 
 
70,435,530
Mortgage Real Estate Investment Trusts (REITs) - 0.2%
 
 
 
Brightspire Capital Inc Class A
 
61,906
346,674
Dynex Capital Inc
 
31,052
396,224
Ellington Financial Inc (c)
 
171,866
2,036,612
Kkr Real Estate Finance Trust Inc (c)
 
267,788
1,638,863
Ladder Capital Corp Class A
 
5,953
58,160
TPG RE Finance Trust Inc
 
662,642
5,175,234
 
 
 
9,651,767
TOTAL FINANCIALS
 
 
671,203,108
Health Care - 15.5%
 
 
 
Biotechnology - 6.9%
 
 
 
Abeona Therapeutics Inc (b)(c)
 
192,457
862,207
ACADIA Pharmaceuticals Inc (b)
 
261,614
5,823,528
ADMA Biologics Inc (b)(c)
 
293,348
2,643,065
Akebia Therapeutics Inc (b)
 
1,163,366
1,617,079
Alkermes PLC (b)
 
204,302
7,224,119
Altimmune Inc (b)(c)
 
573,862
1,767,495
Amicus Therapeutics Inc (b)
 
260,400
3,765,384
Arbutus Biopharma Corp (b)(c)
 
114,360
514,620
Arcellx Inc (b)
 
21,083
2,420,750
Arcus Biosciences Inc (b)
 
274,288
5,924,621
Arcutis Biotherapeutics Inc (b)
 
232,126
5,468,889
Ardelyx Inc (b)
 
95,716
573,339
Arrowhead Pharmaceuticals Inc (b)
 
153,358
9,615,547
Atreca Inc Class A rights (b)(d)
 
1,051
0
Atrium Therapeutics Inc
 
10,026
134,048
Beam Therapeutics Inc (b)
 
44,266
1,054,859
Bicara Therapeutics Inc (b)
 
130,808
2,601,771
BioCryst Pharmaceuticals Inc (b)
 
504,881
4,806,467
Biohaven Ltd (b)
 
249,724
2,112,665
Black Diamond Therapeutics Inc (b)(c)
 
468,694
998,318
Blueprint Medicines Corp rights (b)(d)
 
33,006
0
Bridgebio Pharma Inc (b)
 
187,834
13,948,553
C4 Therapeutics Inc (b)
 
160,029
420,876
CareDx Inc (b)
 
194,856
3,382,700
Carisma Therapeutics Inc rights (b)(d)
 
304,482
3
Cartesian Therapeutics Inc rights (b)(d)
 
85,524
24,802
Catalyst Pharmaceuticals Inc (b)
 
225,520
5,583,875
Celcuity Inc (b)
 
27,507
3,139,649
Celldex Therapeutics Inc (b)
 
25,623
812,762
CG oncology Inc (b)
 
48,364
3,273,276
Cogent Biosciences Inc (b)
 
171,792
6,612,274
Concentra Biosciences LLC rights (b)(d)
 
109,958
0
Cytokinetics Inc (b)
 
133,319
8,787,055
Denali Therapeutics Inc (b)
 
84,380
1,620,096
Design Therapeutics Inc (b)
 
141,286
1,503,283
Dianthus Therapeutics Inc (b)
 
14,268
1,197,371
Dyne Therapeutics Inc (b)
 
66,209
1,200,369
Emergent BioSolutions Inc (b)(c)
 
120,148
997,228
Erasca Inc (b)
 
481,306
7,787,531
GRAIL Inc (b)(c)
 
25,409
1,313,137
Ideaya Biosciences Inc (b)
 
14,131
470,845
Immunovant Inc (b)
 
19,298
479,362
Inhibrx Biosciences Inc (b)(c)
 
47,472
3,191,543
Insmed Inc (b)
 
15,330
2,506,762
Ironwood Pharmaceuticals Inc Class A (b)
 
621,720
2,182,237
Jounce Therapeutics Inc rights (b)(d)
 
118,367
0
KalVista Pharmaceuticals Inc (b)(c)
 
145,610
2,931,129
Kiniksa Pharmaceuticals International Plc Class A (b)
 
76,836
3,699,653
Kodiak Sciences Inc (b)
 
153,977
5,869,603
Krystal Biotech Inc (b)
 
5,933
1,532,613
Kura Oncology Inc (b)
 
236,158
1,919,965
Kymera Therapeutics Inc (b)
 
50,241
4,184,573
Madrigal Pharmaceuticals Inc (b)
 
29,583
15,485,813
MannKind Corp (b)
 
287,379
704,079
Mirum Pharmaceuticals Inc (b)
 
84,836
7,837,150
Myriad Genetics Inc (b)
 
499,954
2,249,793
Neurogene Inc (b)(c)
 
77,849
1,569,436
Novavax Inc (b)(c)
 
426,160
3,468,942
Nurix Therapeutics Inc (b)
 
80,120
1,241,860
Nuvalent Inc Class A (b)
 
48,397
4,958,273
Olema Pharmaceuticals Inc (b)
 
36,493
544,111
Oncternal Therapeutics Inc rights (b)(c)(d)
 
1,148
0
Organogenesis Holdings Inc Class A (b)
 
286,837
679,804
ORIC Pharmaceuticals Inc (b)
 
85,713
1,085,984
Praxis Precision Medicines Inc (b)
 
38,300
12,339,877
Protagonist Therapeutics Inc (b)
 
46,083
4,857,148
PTC Therapeutics Inc (b)
 
139,170
9,481,652
Puma Biotechnology Inc (b)(c)
 
159,728
1,020,662
Q32 Bio Inc rights (b)(d)
 
40,603
0
Recursion Pharmaceuticals Inc Class A (b)(c)
 
138,753
425,972
REGENXBIO Inc (b)(c)
 
290,327
2,432,940
Replimune Group Inc (b)
 
494,413
3,782,259
Rhythm Pharmaceuticals Inc (b)
 
90,725
7,890,353
Rigel Pharmaceuticals Inc (b)(c)
 
67,972
1,837,963
Rocket Pharmaceuticals Inc (b)(c)
 
408,977
1,464,138
Scholar Rock Holding Corp (b)
 
29,652
1,457,692
Soleno Therapeutics Inc (b)
 
11,234
376,114
Surface Oncology Inc rights (b)(d)
 
60,289
0
Syndax Pharmaceuticals Inc (b)
 
162,444
3,794,692
Tango Therapeutics Inc (b)
 
34,934
730,819
Taysha Gene Therapies Inc (b)
 
729,281
3,259,886
TG Therapeutics Inc (b)(c)
 
131,562
4,370,490
Travere Therapeutics Inc (b)
 
107,293
3,187,675
Twist Bioscience Corp (b)
 
37,081
1,762,089
Upstream Bio Inc (b)
 
61,682
555,138
UroGen Pharma Ltd (b)
 
123,301
2,216,952
Vanda Pharmaceuticals Inc (b)
 
56,115
387,755
Vaxcyte Inc (b)
 
118,796
6,903,236
Vera Therapeutics Inc Class A (b)
 
121,842
4,901,704
Veracyte Inc (b)
 
161,413
5,199,113
Verastem Inc (b)
 
419,692
2,224,368
Vericel Corp (b)
 
28,526
917,681
Viridian Therapeutics Inc (b)
 
27,936
546,428
Voyager Therapeutics Inc (b)
 
124,543
480,736
Xencor Inc (b)
 
95,566
1,152,526
Zenas Biopharma Inc (b)
 
45,975
898,811
Zentalis Pharmaceuticals Inc (b)(c)
 
237,653
556,108
Zymeworks Inc (b)
 
43,441
1,087,763
 
 
 
282,827,881
Health Care Equipment & Supplies - 1.7%
 
 
 
Accuray Inc Del (b)
 
1,069,182
414,950
Alphatec Holdings Inc (b)
 
258,308
2,810,391
AngioDynamics Inc (b)
 
88,029
1,000,890
AtriCure Inc (b)
 
293,110
8,362,428
Avanos Medical Inc (b)(c)
 
305,063
4,273,933
Axogen Inc (b)
 
238,482
7,900,909
Bioventus Inc (b)
 
389,442
3,555,605
Butterfly Network Inc Class A (b)
 
278,255
1,124,150
Cerus Corp (b)
 
1,006,082
1,831,069
Glaukos Corp (b)
 
14,107
1,518,760
Haemonetics Corp (b)
 
33,821
1,906,152
ICU Medical Inc (b)
 
6,773
874,733
iRhythm Technologies Inc (b)
 
80,562
9,507,927
LivaNova PLC (b)
 
18,993
1,207,195
Omnicell Inc (b)
 
343,506
11,466,230
Tactile Systems Technology Inc (b)
 
109,040
2,849,215
Tandem Diabetes Care Inc (b)
 
208,214
3,991,462
Varex Imaging Corp (b)
 
389,316
4,130,643
 
 
 
68,726,642
Health Care Providers & Services - 3.5%
 
 
 
Alignment Healthcare Inc (b)
 
1,104,462
19,460,620
Aveanna Healthcare Holdings Inc (b)
 
260,885
1,680,099
BrightSpring Health Services Inc (b)
 
354,764
15,116,494
Brookdale Senior Living Inc (b)
 
433,442
5,929,487
Castle Biosciences Inc (b)
 
41,324
1,014,504
Ensign Group Inc/The
 
7,717
1,554,976
GeneDx Holdings Corp Class A (b)
 
65
4,174
Guardant Health Inc (b)
 
385,582
35,616,210
HealthEquity Inc (b)
 
372,766
31,152,055
NeoGenomics Inc (b)
 
59,612
442,321
Omada Health Inc
 
85,965
1,080,580
Oncology Institute Inc/The (b)(c)
 
48,145
147,805
Option Care Health Inc (b)
 
656,152
17,663,612
PACS Group Inc (b)
 
46,216
1,484,458
Pediatrix Medical Group Inc (b)
 
71,747
1,534,668
Privia Health Group Inc (b)
 
405,890
8,349,157
 
 
 
142,231,220
Health Care Technology - 0.0%
 
 
 
Health Catalyst Inc (b)(c)
 
351,707
446,668
HealthStream Inc (c)
 
138,013
2,858,249
Phreesia Inc (b)
 
277,900
2,328,802
 
 
 
5,633,719
Life Sciences Tools & Services - 0.4%
 
 
 
10X Genomics Inc Class A (b)
 
204,398
4,339,370
Adaptive Biotechnologies Corp (b)
 
500,039
6,940,542
Codexis Inc (b)
 
133,802
218,097
Cytek Biosciences Inc (b)(c)
 
273,454
1,194,994
Mesa Laboratories Inc (c)
 
5,096
450,588
OmniAb Inc (b)
 
168,484
264,520
Personalis Inc (b)
 
59,520
379,142
Quanterix Corp (b)(c)
 
180,096
633,938
 
 
 
14,421,191
Pharmaceuticals - 3.0%
 
 
 
Aclaris Therapeutics Inc (b)
 
114,522
429,458
Alumis Inc (b)
 
232,229
5,116,005
Amneal Intermediate Inc Class A (b)
 
653,684
8,125,292
ANI Pharmaceuticals Inc (b)
 
11,036
848,668
Arvinas Inc (b)
 
69,893
740,866
Atea Pharmaceuticals Inc (b)
 
94,351
507,608
Avadel Pharmaceuticals PLC rights (b)(d)
 
58,295
37,309
Axsome Therapeutics Inc (b)
 
134,668
22,761,585
BioAge Labs Inc (b)
 
178,453
3,121,143
Collegium Pharmaceutical Inc (b)
 
50,885
1,682,767
Crinetics Pharmaceuticals Inc (b)
 
38,194
1,387,206
Definium Therapeutics Inc (b)
 
117,857
2,227,497
Edgewise Therapeutics Inc (b)
 
109,665
3,454,448
Esperion Therapeutics Inc (b)
 
303,190
830,741
EyePoint Inc (b)
 
110,199
1,420,465
Fulcrum Therapeutics Inc (b)
 
54,151
415,338
Harmony Biosciences Holdings Inc (b)
 
192,437
5,390,160
Indivior Pharmaceuticals Inc
 
125,309
3,819,418
Innoviva Inc (b)
 
37,332
869,836
Ligand Pharmaceuticals Inc (b)
 
40,254
8,036,711
Liquidia Corp (b)
 
201,985
7,622,914
Maze Therapeutics Inc (b)
 
27,172
811,084
MBX Biosciences Inc (b)
 
38,070
1,136,390
Pacira BioSciences Inc (b)
 
75,964
1,716,786
Pfizer Inc rights (b)(d)
 
34,468
184,748
Phibro Animal Health Corp Class A
 
87,886
4,860,975
Prestige Consumer Healthcare Inc (b)
 
68,358
4,051,579
Rapport Therapeutics Inc (b)
 
14,281
446,852
Supernus Pharmaceuticals Inc (b)
 
181,207
9,366,590
Tarsus Pharmaceuticals Inc (b)
 
49,066
3,441,980
Terns Pharmaceuticals Inc (b)
 
206,472
10,885,204
Theravance Biopharma Inc (b)
 
94,511
1,533,914
Trevi Therapeutics Inc (b)
 
101,522
1,211,157
WaVe Life Sciences Ltd (b)
 
128,917
934,648
Xeris Biopharma Holdings Inc (b)
 
417,452
2,421,222
 
 
 
121,848,564
TOTAL HEALTH CARE
 
 
635,689,217
Industrials - 18.7%
 
 
 
Aerospace & Defense - 2.3%
 
 
 
AAR Corp (b)(c)
 
189,489
20,741,466
Archer Aviation Inc Class A (b)(c)
 
546,925
2,827,602
Carpenter Technology Corp
 
40,087
15,800,291
Ducommun Inc (b)
 
131,152
16,000,544
FTAI Aviation Ltd
 
85,321
20,903,645
Kratos Defense & Security Solutions Inc (b)
 
102,865
7,253,011
Park Aerospace Corp (c)
 
63,971
1,751,526
Rocket Lab Corp
 
79,961
5,135,095
V2X Inc (b)
 
45,307
3,103,530
 
 
 
93,516,710
Building Products - 1.6%
 
 
 
Apogee Enterprises Inc
 
233,636
7,836,151
AZZ Inc
 
13,865
1,734,927
Gibraltar Industries Inc (b)
 
44,802
1,786,256
Griffon Corp
 
250,074
18,175,378
Resideo Technologies Inc (b)
 
776,359
26,171,062
UFP Industries Inc
 
12,471
1,148,829
Zurn Elkay Water Solutions Corp
 
177,415
7,955,289
 
 
 
64,807,892
Commercial Services & Supplies - 1.2%
 
 
 
ABM Industries Inc
 
297,354
11,454,077
ACV Auctions Inc Class A (b)(c)
 
535,256
2,269,485
BrightView Holdings Inc (b)
 
243,147
2,866,703
Brink's Co/The
 
51,491
5,336,012
Healthcare Services Group Inc (b)
 
187,011
3,469,054
HNI Corp
 
39
1,302
Interface Inc
 
221,533
5,520,602
OPENLANE Inc (b)
 
498,954
14,544,510
UniFirst Corp/MA
 
5,614
1,412,426
Vestis Corp (b)
 
43,031
338,224
 
 
 
47,212,395
Construction & Engineering - 3.4%
 
 
 
Arcosa Inc
 
188,784
20,037,534
Argan Inc
 
8,300
4,520,595
Comfort Systems USA Inc
 
15,666
21,603,258
Dycom Industries Inc (b)
 
58,620
19,861,628
EMCOR Group Inc
 
14,461
10,676,701
Fluor Corp (b)
 
81,761
3,814,151
Granite Construction Inc
 
41,039
4,919,755
Limbach Holdings Inc (b)
 
49,783
3,885,563
MYR Group Inc (b)
 
42,865
12,101,647
Orion Group Holdings Inc (b)
 
34,638
377,554
Sterling Infrastructure Inc (b)
 
38,223
15,567,081
Tutor Perini Corp
 
273,137
21,083,445
 
 
 
138,448,912
Electrical Equipment - 3.9%
 
 
 
Allient Inc
 
13,030
769,943
American Superconductor Corp (b)
 
123,706
4,187,448
Bloom Energy Corp Class A (b)
 
398,110
53,939,925
EnerSys
 
178,408
30,993,038
Eos Energy Enterprises Inc (b)(c)
 
473,620
2,349,155
LSI Industries Inc
 
155,305
2,888,673
Nextpower Inc Class A (b)
 
94,775
11,425,126
NuScale Power Corp Class A (b)(c)
 
174,276
1,889,152
Plug Power Inc (b)(c)
 
4,856,866
10,976,517
Preformed Line Products Co (c)
 
22,711
6,149,003
Shoals Technologies Group Inc (b)
 
75,410
496,198
Sunrun Inc (b)
 
485,596
6,584,682
Thermon Group Holdings Inc (b)
 
93,041
4,689,266
Vicor Corp (b)
 
145,949
23,497,789
 
 
 
160,835,915
Ground Transportation - 0.2%
 
 
 
ArcBest Corp
 
55,263
5,435,669
Marten Transport Ltd
 
641,988
8,429,302
 
 
 
13,864,971
Machinery - 3.3%
 
 
 
Astec Industries Inc
 
33,020
1,777,797
CECO Environmental Corp (b)
 
366,778
21,852,633
Chart Industries Inc (b)
 
43,614
9,017,195
Douglas Dynamics Inc
 
19,989
841,337
Enerpac Tool Group Corp Class A
 
44,683
1,629,589
ESCO Technologies Inc
 
20,944
5,893,013
Federal Signal Corp
 
196,081
21,204,199
Franklin Electric Co Inc
 
114,482
10,551,806
Gorman-Rupp Co/The (c)
 
16,547
1,028,065
Hillman Solutions Corp (b)
 
1,182,866
9,841,445
Hurco Cos Inc (b)
 
14,812
217,884
Hyster-Yale Inc Class A (c)
 
88,156
2,865,952
Kennametal Inc
 
375,714
13,574,547
L B Foster Co Class A (b)
 
21,915
611,428
Proto Labs Inc (b)
 
109,145
6,223,448
SPX Technologies Inc (b)
 
37,883
7,574,327
Standex International Corp (c)
 
8,864
2,259,079
Tennant CO
 
13,294
882,722
Trinity Industries Inc
 
258,038
8,303,663
Worthington Enterprises Inc
 
137,452
7,166,747
 
 
 
133,316,876
Marine Transportation - 0.0%
 
 
 
Genco Shipping & Trading Ltd (c)
 
34,729
783,139
Passenger Airlines - 0.7%
 
 
 
Allegiant Travel Co (b)(c)
 
39,229
3,179,118
Joby Aviation Inc Class A (b)(c)
 
581,508
4,803,256
SkyWest Inc (b)
 
222,354
20,418,768
 
 
 
28,401,142
Professional Services - 0.7%
 
 
 
Barrett Business Services Inc
 
124,270
3,626,199
CSG Systems International Inc (c)
 
43,366
3,466,678
ExlService Holdings Inc (b)
 
12,214
371,916
Kelly Services Inc Class A
 
81,148
718,160
Korn Ferry
 
54,498
3,430,649
Planet Labs PBC Class A (b)
 
562,071
15,709,884
Upwork Inc (b)
 
117,399
1,286,693
 
 
 
28,610,179
Trading Companies & Distributors - 1.4%
 
 
 
Applied Industrial Technologies Inc
 
27,004
7,164,701
Custom Truck One Source Inc Class A (b)
 
63,954
420,177
DNOW Inc (b)
 
413,981
4,930,514
DXP Enterprises Inc/TX (b)
 
154,700
21,616,231
Global Industrial Co
 
44,267
1,395,296
McGrath RentCorp
 
21,209
2,338,929
Rush Enterprises Inc Class A
 
198,337
13,112,059
Xometry Inc Class A (b)
 
133,049
5,433,721
 
 
 
56,411,628
TOTAL INDUSTRIALS
 
 
766,209,759
Information Technology - 14.0%
 
 
 
Communications Equipment - 1.8%
 
 
 
ADTRAN Holdings Inc (b)
 
387,150
4,870,347
Calix Inc (b)
 
96,136
4,709,703
Extreme Networks Inc (b)
 
1,507,993
22,740,535
Harmonic Inc (b)
 
128,791
1,156,543
NetScout Systems Inc (b)
 
298,168
9,478,761
Viavi Solutions Inc (b)
 
590,244
19,643,320
Vistance Networks Inc (b)
 
617,501
11,238,518
 
 
 
73,837,727
Electronic Equipment, Instruments & Components - 2.5%
 
 
 
Aeva Technologies Inc (b)
 
71,121
935,952
Arlo Technologies Inc (b)
 
408,346
5,810,764
Bel Fuse Inc Class B
 
28,862
5,714,099
Benchmark Electronics Inc
 
329,224
18,456,297
CTS Corp
 
8,556
408,635
Daktronics Inc (b)(c)
 
205,934
4,026,010
Evolv Technologies Holdings Inc Class A (b)
 
594,939
3,599,381
Kimball Electronics Inc (b)
 
97,307
2,305,203
nLight Inc (b)
 
85,190
4,857,534
Ouster Inc Class A (b)(c)
 
207,777
3,816,863
PC Connection Inc
 
95,226
5,566,912
Plexus Corp (b)
 
111,360
22,554,854
Sanmina Corp (b)
 
155,888
20,209,320
ScanSource Inc (b)
 
71,412
2,592,256
TTM Technologies Inc (b)
 
14,545
1,416,974
 
 
 
102,271,054
IT Services - 0.8%
 
 
 
Applied Digital Corp (b)(c)
 
149,895
3,558,507
Fastly Inc Class A (b)
 
973,173
28,280,407
 
 
 
31,838,914
Semiconductors & Semiconductor Equipment - 3.1%
 
 
 
ACM Research Inc Class A (b)
 
381,867
15,026,466
Alpha & Omega Semiconductor Ltd (b)
 
17,861
395,800
Ambarella Inc (b)
 
258,703
13,316,737
Axcelis Technologies Inc (b)
 
50,413
4,692,442
Credo Technology Group Holding Ltd (b)
 
362,932
34,068,427
Diodes Inc (b)
 
100,912
6,888,253
FormFactor Inc (b)
 
67,835
6,579,317
MaxLinear Inc (b)
 
1,060,135
18,435,748
PDF Solutions Inc (b)
 
188,740
6,173,685
Rigetti Computing Inc Class A (b)(c)
 
602,389
8,457,542
Silicon Laboratories Inc (b)
 
41,616
8,662,370
SiTime Corp (b)
 
18,131
6,261,541
SkyWater Technology Inc (b)
 
969
26,560
 
 
 
128,984,888
Software - 5.0%
 
 
 
8x8 Inc (b)
 
1,116,415
1,853,249
ACI Worldwide Inc (b)
 
477,058
19,564,149
Airship AI Holdings Inc Class A (b)(c)
 
233,681
528,119
Alarm.com Holdings Inc (b)
 
318,125
13,739,819
Appian Corp Class A (b)(c)
 
322,782
7,782,274
Asana Inc Class A (b)(c)
 
851,011
5,446,470
Aurora Innovation Inc Class A (b)(c)
 
1,201
4,947
Blackbaud Inc (b)
 
199,074
7,686,247
C3.ai Inc Class A (b)(c)
 
129,806
1,092,967
Clear Secure Inc Class A
 
497,650
24,091,237
Commvault Systems Inc (b)
 
186,743
14,545,412
Domo Inc Class B (b)
 
417,633
1,277,957
Five9 Inc (b)
 
129,227
1,960,374
Freshworks Inc Class A (b)
 
787,004
6,319,642
Intapp Inc (b)
 
251,903
6,471,388
LivePerson Inc (b)(c)
 
70,295
179,251
LiveRamp Holdings Inc (b)
 
706,481
18,735,876
NextNav Inc Class A (b)(c)
 
85,589
1,371,136
OneSpan Inc
 
114,247
1,203,021
PagerDuty Inc (b)
 
876,333
5,442,028
Progress Software Corp (b)
 
502,101
12,878,891
Q2 Holdings Inc (b)
 
162,097
7,667,188
Rapid7 Inc (b)
 
100,510
553,810
Sprout Social Inc Class A (b)
 
516,403
2,943,497
Tenable Holdings Inc (b)
 
1,268,451
21,455,849
Terawulf Inc (b)(c)
 
258,250
3,726,548
Varonis Systems Inc (b)
 
91,779
1,970,495
Vertex Inc Class A (b)
 
241,409
2,870,353
Weave Communications Inc (b)
 
129,798
599,667
Workiva Inc Class A (b)
 
43,754
2,609,051
Xperi Inc (b)
 
442,469
2,477,826
Yext Inc (b)
 
698,189
2,681,046
 
 
 
201,729,784
Technology Hardware, Storage & Peripherals - 0.8%
 
 
 
Diebold Nixdorf Inc (b)
 
243,351
18,358,400
GPGI Inc Class A
 
85,077
1,454,817
Immersion Corp (c)
 
453,619
2,476,760
IonQ Inc (b)(c)
 
383,439
11,054,546
Quantum Computing Inc (b)
 
144
986
 
 
 
33,345,509
TOTAL INFORMATION TECHNOLOGY
 
 
572,007,876
Materials - 5.1%
 
 
 
Chemicals - 1.6%
 
 
 
American Vanguard Corp (b)
 
219,964
547,710
Balchem Corp
 
95,780
16,232,794
HB Fuller Co
 
255,914
15,784,776
Innospec Inc
 
12,867
939,548
Minerals Technologies Inc
 
184,969
13,118,001
Perimeter Solutions Inc (b)
 
39,642
968,058
Sensient Technologies Corp
 
221,709
19,164,527
 
 
 
66,755,414
Construction Materials - 0.2%
 
 
 
United States Lime & Minerals Inc
 
67,571
8,825,448
Containers & Packaging - 0.2%
 
 
 
Myers Industries Inc
 
167,227
3,541,868
O-I Glass Inc (b)
 
567,644
5,965,938
 
 
 
9,507,806
Metals & Mining - 3.1%
 
 
 
Alpha Metallurgical Resources Inc (b)
 
33,434
6,862,997
Century Aluminum Co (b)
 
38,227
2,243,543
Coeur Mining Inc (b)
 
1,608,785
30,196,894
Commercial Metals Co
 
493,412
30,310,300
Constellium SE (b)
 
72,982
1,793,898
Hecla Mining Co
 
1,665,092
31,020,665
Kaiser Aluminum Corp
 
11,183
1,347,663
Materion Corp
 
5,183
749,721
Perpetua Resources Corp (United States) (b)(c)
 
48,352
1,359,658
Ryerson Holding Corp
 
175,761
3,951,107
SunCoke Energy Inc
 
1,123,799
7,315,931
United States Antimony Corp (b)(c)
 
92,841
810,502
USA Rare Earth Inc Class A (b)
 
25,195
381,326
Worthington Steel Inc (c)
 
108,197
3,283,779
 
 
 
121,627,984
Paper & Forest Products - 0.0%
 
 
 
Magnera Corp (b)
 
65,300
621,003
TOTAL MATERIALS
 
 
207,337,655
Real Estate - 4.3%
 
 
 
Diversified REITs - 0.3%
 
 
 
American Assets Trust Inc
 
312,306
5,749,553
Broadstone Net Lease Inc Class A
 
297,817
5,441,117
 
 
 
11,190,670
Health Care REITs - 0.7%
 
 
 
American Healthcare REIT Inc
 
106,006
4,999,243
CareTrust REIT Inc
 
399,509
14,642,005
Chiron Real Estate Inc
 
62,222
2,058,304
Community Healthcare Trust Inc
 
85,995
1,366,461
Diversified Healthcare Trust
 
344,606
2,288,184
LTC Properties Inc
 
50,142
1,863,277
Universal Health Realty Income Trust
 
23,584
954,443
 
 
 
28,171,917
Hotel & Resort REITs - 0.0%
 
 
 
Sunstone Hotel Investors Inc
 
349,901
3,152,608
Office REITs - 0.2%
 
 
 
COPT Defense Properties
 
176,165
5,390,649
Easterly Government Properties Inc
 
21
450
Empire State Realty Trust Inc Class A
 
593,283
3,085,072
 
 
 
8,476,171
Real Estate Management & Development - 1.3%
 
 
 
Compass Inc Class A (b)
 
2,278,769
16,657,801
Cushman & Wakefield Ltd
 
1,627,113
19,948,406
eXp World Holdings Inc (c)
 
673,826
4,036,218
Kennedy-Wilson Holdings Inc
 
76,449
827,178
Newmark Group Inc Class A
 
719,608
10,786,924
 
 
 
52,256,527
Residential REITs - 0.2%
 
 
 
Centerspace
 
27,022
1,552,413
Veris Residential Inc
 
275,834
5,204,988
 
 
 
6,757,401
Retail REITs - 1.0%
 
 
 
CBL & Associates Properties Inc
 
25,069
963,401
InvenTrust Properties Corp
 
36,550
1,113,313
Kite Realty Group Trust
 
280,389
6,883,550
NETSTREIT Corp (c)
 
68,270
1,285,524
Phillips Edison & Co Inc
 
748,316
28,001,985
Whitestone REIT
 
222,765
3,597,655
 
 
 
41,845,428
Specialized REITs - 0.6%
 
 
 
Outfront Media Inc
 
935,855
24,800,158
TOTAL REAL ESTATE
 
 
176,650,880
Utilities - 2.3%
 
 
 
Electric Utilities - 0.3%
 
 
 
Oklo Inc Class A (b)(c)
 
116,796
5,791,914
Portland General Electric Co
 
52,959
2,794,646
TXNM Energy Inc
 
73,369
4,289,152
 
 
 
12,875,712
Gas Utilities - 1.2%
 
 
 
New Jersey Resources Corp
 
203,329
11,166,829
Northwest Natural Holding Co
 
38,161
2,030,928
Southwest Gas Holdings Inc
 
307,688
26,738,087
Spire Inc
 
70,154
6,351,743
 
 
 
46,287,587
Independent Power and Renewable Electricity Producers - 0.3%
 
 
 
Hallador Energy Co (b)
 
568,105
9,248,750
Ormat Technologies Inc
 
45,133
5,051,285
 
 
 
14,300,035
Multi-Utilities - 0.5%
 
 
 
Avista Corp
 
486,397
19,523,976
Northwestern Energy Group Inc
 
28,174
1,857,793
 
 
 
21,381,769
Water Utilities - 0.0%
 
 
 
Consolidated Water Co Ltd
 
22,646
750,035
TOTAL UTILITIES
 
 
95,595,138
TOTAL UNITED STATES
 
 
3,916,572,776
 
TOTAL COMMON STOCKS
 (Cost $3,772,107,675)
 
 
 
4,047,773,545
 
 
 
 
U.S. Treasury Obligations - 0.2%
 
 
Yield (%) (e)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 4/16/2026
 
3.60
2,330,000
2,326,480
US Treasury Bills 0% 4/2/2026
 
3.51
340,000
339,966
US Treasury Bills 0% 4/9/2026
 
3.55 to 3.56
320,000
319,743
US Treasury Bills 0% 5/14/2026
 
3.63
170,000
169,261
US Treasury Bills 0% 5/21/2026
 
3.63
100,000
99,496
US Treasury Bills 0% 5/28/2026
 
3.61 to 3.62
960,000
954,471
US Treasury Bills 0% 6/11/2026 (f)
 
3.63 to 3.64
1,530,000
1,519,145
US Treasury Bills 0% 6/18/2026 (f)
 
3.63
1,400,000
1,389,089
US Treasury Bills 0% 6/4/2026 (f)
 
3.62 to 3.63
1,480,000
1,470,492
 
TOTAL U.S. TREASURY OBLIGATIONS
 (Cost $8,588,314)
 
 
 
8,588,143
 
 
 
 
 
Money Market Funds - 4.7%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (g)
 
3.69
40,371,434
40,379,508
Fidelity Securities Lending Cash Central Fund (g)(h)
 
3.69
153,180,961
153,196,279
 
TOTAL MONEY MARKET FUNDS
 (Cost $193,575,786)
 
 
 
193,575,787
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 103.7%
 (Cost $3,974,271,775)
 
 
 
4,249,937,475
NET OTHER ASSETS (LIABILITIES) - (3.7)%  
(150,252,291)
NET ASSETS - 100.0%
4,099,685,184
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
 
 
 
 
 
 
 
 
 
Equity Contracts
 
 
 
 
CME E-Mini Russell 2000 Index Contracts (United States)
334
6/2026
41,953,740
236,611
 
 
 
 
 
The notional amount of long futures as a percentage of Net Assets is 1.0%.

Legend
 
(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)
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 $3,628,576.
 
(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 are available on the SEC's website or upon request.
 
(h)
Investment made with cash collateral received from securities on loan.
 
At period end, the value of non-cash collateral for securities on loan amounted to $4,464,456.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
26,712,125
330,165,010
316,500,863
1,295,890
3,236
-
40,379,508
40,371,434
0.1%
Fidelity Securities Lending Cash Central Fund
107,235,562
758,821,533
712,855,076
439,548
(5,740)
-
153,196,279
153,180,961
0.4%
Total
133,947,687
1,088,986,543
1,029,355,939
1,735,438
(2,504)
-
193,575,787
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
 
The Fund used futures contracts to manage its exposure to the stock market.
 
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.