Quarterly Holdings Report
for
Fidelity® Enhanced U.S. All-Cap Equity ETF
March 31, 2026
EUE-NPRT3-0526
1.9916463.101
Common Stocks - 97.9%
 
 
Shares
Value ($)
 
CANADA - 0.1%
 
 
 
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Teekay Tankers Ltd Class A
 
75
5,499
Health Care - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
Aurinia Pharmaceuticals Inc (b)
 
340
5,039
TOTAL CANADA
 
 
10,538
IRELAND - 0.1%
 
 
 
Industrials - 0.1%
 
 
 
Commercial Services & Supplies - 0.1%
 
 
 
Cimpress PLC (b)
 
79
5,767
MEXICO - 0.1%
 
 
 
Materials - 0.1%
 
 
 
Metals & Mining - 0.1%
 
 
 
Southern Copper Corp
 
64
11,012
MONACO - 0.1%
 
 
 
Industrials - 0.1%
 
 
 
Marine Transportation - 0.1%
 
 
 
Costamare Inc
 
328
5,543
PUERTO RICO - 0.0%
 
 
 
Financials - 0.0%
 
 
 
Financial Services - 0.0%
 
 
 
EVERTEC Inc
 
140
3,951
SINGAPORE - 0.1%
 
 
 
Information Technology - 0.1%
 
 
 
Semiconductors & Semiconductor Equipment - 0.1%
 
 
 
Kulicke & Soffa Industries Inc
 
82
5,389
SOUTH AFRICA - 0.0%
 
 
 
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Caledonia Mining Corp PLC
 
175
3,953
SWITZERLAND - 0.0%
 
 
 
Health Care - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
ADC Therapeutics SA (b)
 
337
1,264
UNITED KINGDOM - 0.2%
 
 
 
Energy - 0.2%
 
 
 
Energy Equipment & Services - 0.2%
 
 
 
TechnipFMC PLC
 
327
22,606
Industrials - 0.0%
 
 
 
Machinery - 0.0%
 
 
 
Luxfer Holdings PLC
 
96
1,169
TOTAL UNITED KINGDOM
 
 
23,775
UNITED STATES - 97.2%
 
 
 
Communication Services - 9.9%
 
 
 
Diversified Telecommunication Services - 2.4%
 
 
 
AT&T Inc
 
3,650
105,814
Atn International Inc
 
190
5,171
Bandwidth Inc Class A (b)
 
347
6,184
Comcast Corp Class A
 
2,946
84,580
Verizon Communications Inc
 
1,061
53,262
 
 
 
255,011
Entertainment - 1.5%
 
 
 
Netflix Inc (b)
 
1,252
120,380
Playtika Holding Corp
 
853
2,371
Roku Inc Class A (b)
 
101
9,557
Take-Two Interactive Software Inc (b)
 
99
19,553
Walt Disney Co/The
 
26
2,506
Warner Bros Discovery Inc (b)
 
37
1,015
 
 
 
155,382
Interactive Media & Services - 5.7%
 
 
 
Alphabet Inc Class A
 
946
272,032
Alphabet Inc Class C
 
596
170,969
Meta Platforms Inc Class A
 
247
141,317
Nextdoor Holdings Inc Class A (b)
 
3,246
4,544
Yelp Inc Class A (b)
 
229
5,665
ZipRecruiter Inc Class A (b)
 
216
397
 
 
 
594,924
Media - 0.3%
 
 
 
DoubleVerify Holdings Inc (b)
 
424
4,028
EW Scripps Co/The Class A (b)
 
1,353
5,033
News Corp Class A
 
308
7,678
USA TODAY Co Inc (b)
 
912
6,430
Versant Media Group Inc Class A
 
146
5,405
 
 
 
28,574
TOTAL COMMUNICATION SERVICES
 
 
1,033,891
Consumer Discretionary - 8.1%
 
 
 
Automobile Components - 0.3%
 
 
 
Adient PLC (b)
 
233
4,709
BorgWarner Inc
 
174
9,441
Cooper-Standard Holdings Inc (b)
 
178
4,961
Holley Inc Class A (b)
 
1,361
4,178
Phinia Inc
 
79
5,407
Strattec Security Corp (b)
 
62
4,857
 
 
 
33,553
Automobiles - 2.6%
 
 
 
Ford Motor Co
 
3,150
36,350
General Motors Co
 
755
56,248
Tesla Inc (b)
 
462
171,749
 
 
 
264,347
Broadline Retail - 2.5%
 
 
 
Amazon.com Inc (b)
 
1,227
255,547
Diversified Consumer Services - 0.1%
 
 
 
ADT Inc
 
651
4,277
Coursera Inc (b)
 
742
4,318
European Wax Center Inc Class A (b)
 
900
5,202
 
 
 
13,797
Hotels, Restaurants & Leisure - 0.9%
 
 
 
Accel Entertainment Inc Class A (b)
 
462
5,040
Airbnb Inc Class A (b)
 
343
43,315
Brightstar Lottery PLC
 
403
5,134
Expedia Group Inc Class A
 
95
21,935
Las Vegas Sands Corp
 
249
13,416
Monarch Casino & Resort Inc
 
57
5,449
 
 
 
94,289
Household Durables - 0.2%
 
 
 
Cavco Industries Inc (b)
 
5
2,421
Cricut Inc Class A
 
1,188
4,443
Flexsteel Industries Inc
 
12
539
Garmin Ltd
 
4
928
M/I Homes Inc (b)
 
37
4,531
Sonos Inc (b)
 
384
5,146
 
 
 
18,008
Leisure Products - 0.1%
 
 
 
Callaway Golf Co (b)
 
136
1,888
Hasbro Inc
 
107
10,015
Peloton Interactive Inc Class A (b)
 
682
2,926
 
 
 
14,829
Specialty Retail - 1.1%
 
 
 
Abercrombie & Fitch Co Class A (b)
 
63
5,756
Chewy Inc Class A (b)
 
197
5,319
Citi Trends Inc (b)
 
121
5,242
Five Below Inc (b)
 
46
10,510
Gap Inc/The
 
229
5,542
Petco Health & Wellness Co Inc Class A (b)
 
1,472
4,092
Sally Beauty Holdings Inc (b)
 
340
4,709
Stitch Fix Inc Class A (b)
 
961
3,181
ThredUp Inc Class A (b)
 
1,533
5,028
TJX Cos Inc/The
 
381
60,846
Urban Outfitters Inc (b)
 
77
4,878
Zumiez Inc (b)
 
205
4,543
 
 
 
119,646
Textiles, Apparel & Luxury Goods - 0.3%
 
 
 
Ralph Lauren Corp Class A
 
31
10,664
Tapestry Inc
 
167
23,565
 
 
 
34,229
TOTAL CONSUMER DISCRETIONARY
 
 
848,245
Consumer Staples - 2.9%
 
 
 
Beverages - 0.4%
 
 
 
Coca-Cola Consolidated Inc
 
46
8,820
Molson Coors Beverage Co Class B
 
139
5,985
Monster Beverage Corp (b)
 
265
19,202
PepsiCo Inc
 
72
11,181
 
 
 
45,188
Consumer Staples Distribution & Retail - 1.9%
 
 
 
Dollar General Corp
 
105
12,467
Maplebear Inc (b)
 
152
5,694
United Natural Foods Inc (b)
 
145
6,534
US Foods Holding Corp (b)
 
184
16,967
Village Super Market Inc Class A
 
122
5,151
Walmart Inc
 
1,246
154,853
 
 
 
201,666
Food Products - 0.2%
 
 
 
Calavo Growers Inc
 
45
1,160
Darling Ingredients Inc (b)
 
128
7,917
Dole PLC
 
311
4,444
Fresh Del Monte Produce Inc
 
111
4,469
Hain Celestial Group Inc (b)
 
2,791
1,948
Utz Brands Inc Class A
 
372
2,946
 
 
 
22,884
Household Products - 0.2%
 
 
 
Church & Dwight Co Inc
 
192
17,918
Colgate-Palmolive Co
 
2
170
 
 
 
18,088
Personal Care Products - 0.2%
 
 
 
Kenvue Inc
 
368
6,344
Nature's Sunshine Products Inc (b)
 
208
4,990
Niagen Bioscience Inc (b)
 
342
1,508
Nu Skin Enterprises Inc Class A
 
552
4,019
USANA Health Sciences Inc (b)
 
64
1,118
 
 
 
17,979
TOTAL CONSUMER STAPLES
 
 
305,805
Energy - 5.8%
 
 
 
Energy Equipment & Services - 0.8%
 
 
 
Archrock Inc
 
18
626
Baker Hughes Co Class A
 
803
49,024
Forum Energy Technologies Inc (b)
 
88
5,162
Kodiak Gas Services Inc
 
87
5,074
National Energy Services Reunited Corp (b)
 
238
5,110
Natural Gas Services Group Inc
 
152
5,736
Oil States International Inc (b)
 
384
4,470
Ranger Energy Services Inc Class A
 
326
5,588
Weatherford International PLC
 
56
5,296
 
 
 
86,086
Oil, Gas & Consumable Fuels - 5.0%
 
 
 
Antero Midstream Corp
 
298
6,794
California Resources Corp
 
108
7,476
Cheniere Energy Inc
 
127
36,038
ConocoPhillips
 
765
100,981
Delek US Holdings Inc
 
116
5,228
Devon Energy Corp
 
500
25,160
Dorian LPG Ltd
 
160
5,472
DT Midstream Inc
 
81
10,908
Excelerate Energy Inc Class A
 
143
4,779
Expand Energy Corp
 
177
19,431
Exxon Mobil Corp
 
437
74,142
Green Plains Inc (b)
 
352
5,790
Kinder Morgan Inc
 
1,582
53,044
Marathon Petroleum Corp
 
183
44,685
NACCO Industries Inc Class A
 
36
1,871
Occidental Petroleum Corp
 
577
37,505
Riley Exploration Permian Inc
 
169
6,160
Williams Cos Inc/The
 
981
71,397
World Kinect Corp
 
192
4,429
 
 
 
521,290
TOTAL ENERGY
 
 
607,376
Financials - 11.2%
 
 
 
Banks - 1.4%
 
 
 
Arrow Financial Corp
 
152
5,103
Bankwell Financial Group Inc
 
111
5,386
Bridgewater Bancshares Inc (b)
 
292
5,168
Byline Bancorp Inc
 
167
5,272
Community Trust Bancorp Inc
 
91
5,526
First Business Financial Services Inc
 
96
5,177
First Commonwealth Financial Corp
 
236
4,149
First Financial Corp
 
82
5,182
Hilltop Holdings Inc
 
152
5,445
JPMorgan Chase & Co
 
199
58,538
Nbt Bancorp Inc
 
130
5,535
Northeast Community Bancorp Inc
 
172
4,094
Northfield Bancorp Inc
 
386
5,226
Origin Bancorp Inc
 
123
5,100
Simmons First National Corp Class A
 
288
5,602
SmartFinancial Inc
 
139
5,432
Texas Capital Bancshares Inc (b)
 
12
1,139
Third Coast Bancshares Inc (b)
 
126
4,767
TrustCo Bank Corp NY
 
8
349
Unity Bancorp Inc
 
21
1,088
 
 
 
143,278
Capital Markets - 4.7%
 
 
 
Acadian Asset Management Inc
 
109
5,932
Ameriprise Financial Inc
 
76
33,774
Bank of New York Mellon Corp/The
 
563
66,789
Charles Schwab Corp/The
 
996
93,604
CME Group Inc Class A
 
288
85,061
Evercore Inc Class A
 
32
9,552
Goldman Sachs Group Inc/The
 
70
59,219
Morgan Stanley
 
366
60,233
Morningstar Inc
 
27
4,564
Nasdaq Inc
 
87
7,385
Northern Trust Corp
 
152
21,215
State Street Corp
 
227
28,729
StoneX Group Inc (b)
 
78
6,291
Tradeweb Markets Inc Class A
 
95
11,178
 
 
 
493,526
Consumer Finance - 0.8%
 
 
 
Capital One Financial Corp
 
379
69,142
Encore Capital Group Inc (b)
 
78
5,469
Enova International Inc (b)
 
35
4,754
Synchrony Financial
 
20
1,360
 
 
 
80,725
Financial Services - 2.5%
 
 
 
Berkshire Hathaway Inc Class B (b)
 
151
72,359
Fiserv Inc (b)
 
440
24,552
Global Payments Inc
 
197
13,258
Mastercard Inc Class A
 
155
77,448
NMI Holdings Inc (b)
 
132
4,951
PayPal Holdings Inc
 
771
34,872
Repay Holdings Corp Class A (b)
 
1,560
4,056
Toast Inc Class A (b)
 
366
9,703
Velocity Financial Inc (b)
 
268
4,848
Visa Inc Class A
 
37
11,183
 
 
 
257,230
Insurance - 1.8%
 
 
 
Allstate Corp/The
 
212
43,956
American Integrity Insurance Group Inc
 
296
5,707
Assurant Inc
 
38
8,277
Globe Life Inc
 
36
5,010
Greenlight Capital Re Ltd Class A (b)
 
379
6,553
Hartford Insurance Group Inc/The
 
212
28,669
HCI Group Inc
 
25
3,865
Horace Mann Educators Corp
 
123
5,250
Kingstone Cos Inc
 
317
4,619
Oscar Health Inc Class A (b)
 
422
4,840
Progressive Corp/The
 
229
45,397
Selective Insurance Group Inc
 
20
1,507
Skyward Specialty Insurance Group Inc (b)
 
116
5,067
Stewart Information Services Corp
 
82
5,050
Trupanion Inc (b)
 
144
3,688
Universal Insurance Holdings Inc
 
158
5,397
 
 
 
182,852
Mortgage Real Estate Investment Trusts (REITs) - 0.0%
 
 
 
Adamas Trust Inc
 
711
5,233
MFA Financial Inc
 
561
5,374
TPG Mortgage Investment Trust Inc
 
639
4,671
 
 
 
15,278
TOTAL FINANCIALS
 
 
1,172,889
Health Care - 10.4%
 
 
 
Biotechnology - 3.8%
 
 
 
AbbVie Inc
 
607
132,016
ACADIA Pharmaceuticals Inc (b)
 
214
4,764
Akebia Therapeutics Inc (b)
 
86
119
Alnylam Pharmaceuticals Inc (b)
 
101
33,418
Amicus Therapeutics Inc (b)
 
120
1,734
Anika Therapeutics Inc (b)
 
371
5,380
Biogen Inc (b)
 
117
21,450
BioMarin Pharmaceutical Inc (b)
 
147
8,304
Black Diamond Therapeutics Inc (b)
 
1,895
4,036
Catalyst Pharmaceuticals Inc (b)
 
231
5,720
Enanta Pharmaceuticals Inc (b)
 
360
4,547
Exelixis Inc (b)
 
222
9,522
Gilead Sciences Inc
 
707
98,535
Incyte Corp (b)
 
129
12,141
Insmed Inc (b)
 
2
326
Ironwood Pharmaceuticals Inc Class A (b)
 
1,490
5,230
Myriad Genetics Inc (b)
 
1,073
4,829
Natera Inc (b)
 
106
21,199
Neurocrine Biosciences Inc (b)
 
78
10,276
PTC Therapeutics Inc (b)
 
78
5,314
Travere Therapeutics Inc (b)
 
191
5,675
United Therapeutics Corp (b)
 
9
5,337
 
 
 
399,872
Health Care Equipment & Supplies - 1.6%
 
 
 
Abbott Laboratories
 
620
63,655
Alphatec Holdings Inc (b)
 
380
4,134
Boston Scientific Corp (b)
 
871
54,655
Cooper Cos Inc/The (b)
 
159
11,369
Inogen Inc (b)
 
621
3,838
Insulet Corp (b)
 
53
11,122
KORU Medical Systems Inc (b)
 
1,150
4,968
LivaNova PLC (b)
 
71
4,513
Orthofix Medical Inc (b)
 
415
4,760
Sight Sciences Inc (b)
 
1,020
3,845
 
 
 
166,859
Health Care Providers & Services - 0.8%
 
 
 
Alignment Healthcare Inc (b)
 
221
3,894
Aveanna Healthcare Holdings Inc (b)
 
593
3,818
Castle Biosciences Inc (b)
 
198
4,861
Elevance Health Inc
 
58
16,980
Enhabit Inc (b)
 
406
5,721
Guardant Health Inc (b)
 
95
8,775
HealthEquity Inc (b)
 
63
5,265
Humana Inc
 
95
16,472
Innovage Holding Corp (b)
 
608
4,876
LifeStance Health Group Inc (b)
 
756
4,816
Privia Health Group Inc (b)
 
237
4,875
Viemed Healthcare Inc (b)
 
601
5,535
 
 
 
85,888
Health Care Technology - 0.2%
 
 
 
HealthStream Inc
 
230
4,763
Phreesia Inc (b)
 
229
1,919
Teladoc Health Inc (b)
 
222
1,210
TruBridge Inc (b)
 
232
3,396
Veeva Systems Inc Class A (b)
 
32
5,622
 
 
 
16,910
Life Sciences Tools & Services - 0.4%
 
 
 
10X Genomics Inc Class A (b)
 
238
5,053
Adaptive Biotechnologies Corp (b)
 
332
4,608
Charles River Laboratories International Inc (b)
 
8
1,380
Illumina Inc (b)
 
126
15,531
IQVIA Holdings Inc (b)
 
12
2,046
Medpace Holdings Inc (b)
 
18
8,643
Mesa Laboratories Inc
 
64
5,659
 
 
 
42,920
Pharmaceuticals - 3.6%
 
 
 
Bristol-Myers Squibb Co
 
1,564
94,857
Elanco Animal Health Inc (b)
 
401
9,596
Eli Lilly & Co
 
197
181,195
Jazz Pharmaceuticals PLC (b)
 
35
6,617
Johnson & Johnson
 
94
22,977
Merck & Co Inc
 
234
28,148
Phibro Animal Health Corp Class A
 
109
6,029
SIGA Technologies Inc
 
562
3,006
Supernus Pharmaceuticals Inc (b)
 
108
5,582
Theravance Biopharma Inc (b)
 
387
6,281
Viatris Inc
 
935
12,632
 
 
 
376,920
TOTAL HEALTH CARE
 
 
1,089,369
Industrials - 11.7%
 
 
 
Aerospace & Defense - 3.2%
 
 
 
Carpenter Technology Corp
 
36
14,189
Curtiss-Wright Corp
 
27
18,390
Ducommun Inc (b)
 
41
5,002
FTAI Aviation Ltd
 
82
20,090
GE Aerospace
 
414
117,481
HEICO Corp
 
34
9,323
HEICO Corp Class A
 
24
5,066
Howmet Aerospace Inc
 
320
73,747
Park Aerospace Corp
 
70
1,917
RTX Corp
 
322
62,114
StandardAero Inc (b)
 
190
4,908
V2X Inc (b)
 
80
5,480
 
 
 
337,707
Air Freight & Logistics - 0.7%
 
 
 
FedEx Corp
 
174
61,976
United Parcel Service Inc Class B
 
109
10,723
 
 
 
72,699
Building Products - 1.5%
 
 
 
A O Smith Corp
 
92
6,066
Allegion plc
 
67
9,734
Apogee Enterprises Inc
 
131
4,394
Armstrong World Industries Inc
 
33
5,438
Griffon Corp
 
65
4,724
Johnson Controls International plc
 
534
69,928
Trane Technologies PLC
 
126
52,510
 
 
 
152,794
Commercial Services & Supplies - 0.5%
 
 
 
Cintas Corp
 
277
46,852
OPENLANE Inc (b)
 
202
5,888
 
 
 
52,740
Construction & Engineering - 1.1%
 
 
 
AECOM
 
99
8,397
API Group Corp (b)
 
318
12,885
Comfort Systems USA Inc
 
28
38,612
Dycom Industries Inc (b)
 
21
7,115
EMCOR Group Inc
 
34
25,103
Orion Group Holdings Inc (b)
 
519
5,657
Tutor Perini Corp
 
77
5,944
Valmont Industries Inc
 
16
6,393
 
 
 
110,106
Electrical Equipment - 2.3%
 
 
 
Acuity Inc
 
22
6,165
Allient Inc
 
87
5,141
AMETEK Inc
 
187
40,085
Eaton Corp PLC
 
105
37,555
Emerson Electric Co
 
3
393
EnerSys
 
35
6,080
LSI Industries Inc
 
259
4,817
nVent Electric PLC
 
128
15,140
Rockwell Automation Inc
 
92
33,017
Sensata Technologies Holding PLC
 
171
6,023
Vertiv Holdings Co Class A
 
305
76,427
Vicor Corp (b)
 
32
5,152
 
 
 
235,995
Ground Transportation - 1.1%
 
 
 
Lyft Inc Class A (b)
 
461
6,131
Norfolk Southern Corp
 
40
11,480
Uber Technologies Inc (b)
 
1,322
95,092
 
 
 
112,703
Industrial Conglomerates - 0.0%
 
 
 
Honeywell International Inc
 
12
2,711
Machinery - 0.6%
 
 
 
Astec Industries Inc
 
96
5,169
CECO Environmental Corp (b)
 
95
5,660
Crane Co
 
42
7,182
Flowserve Corp
 
101
7,425
Gates Industrial Corp PLC (b)
 
237
5,359
Hillman Solutions Corp (b)
 
462
3,843
Illinois Tool Works Inc
 
4
1,040
ITT Inc
 
62
11,813
Kennametal Inc
 
152
5,492
Manitowoc Co Inc/The (b)
 
370
4,311
Proto Labs Inc (b)
 
86
4,904
Worthington Enterprises Inc
 
99
5,162
 
 
 
67,360
Marine Transportation - 0.1%
 
 
 
Kirby Corp (b)
 
49
6,511
Pangaea Logistics Solutions Ltd
 
587
4,156
 
 
 
10,667
Passenger Airlines - 0.1%
 
 
 
SkyWest Inc (b)
 
55
5,051
United Airlines Holdings Inc (b)
 
50
4,603
 
 
 
9,654
Professional Services - 0.1%
 
 
 
Legalzoom.com Inc (b)
 
474
2,688
Leidos Holdings Inc
 
3
467
Paylocity Holding Corp (b)
 
35
3,781
 
 
 
6,936
Trading Companies & Distributors - 0.4%
 
 
 
Custom Truck One Source Inc Class A (b)
 
771
5,065
DXP Enterprises Inc/TX (b)
 
33
4,611
Global Industrial Co
 
142
4,476
Karat Packaging Inc
 
206
5,752
McGrath RentCorp
 
42
4,632
MSC Industrial Direct Co Inc Class A
 
63
5,813
NPK International Inc (b)
 
396
5,738
Rush Enterprises Inc Class A
 
44
2,909
Rush Enterprises Inc Class B
 
46
2,960
 
 
 
41,956
TOTAL INDUSTRIALS
 
 
1,214,028
Information Technology - 31.1%
 
 
 
Communications Equipment - 1.4%
 
 
 
ADTRAN Holdings Inc (b)
 
540
6,793
BK Technologies Corp (b)
 
20
1,492
Calix Inc (b)
 
85
4,164
Cisco Systems Inc
 
1,528
118,558
Extreme Networks Inc (b)
 
353
5,323
Harmonic Inc (b)
 
559
5,020
NetScout Systems Inc (b)
 
207
6,581
 
 
 
147,931
Electronic Equipment, Instruments & Components - 1.2%
 
 
 
Amphenol Corp Class A
 
757
95,647
Arlo Technologies Inc (b)
 
369
5,251
Avnet Inc
 
96
5,916
Daktronics Inc (b)
 
213
4,164
Itron Inc (b)
 
37
3,316
Littelfuse Inc
 
19
6,448
ScanSource Inc (b)
 
117
4,247
 
 
 
124,989
IT Services - 0.4%
 
 
 
Backblaze Inc Class A (b)
 
562
1,939
Commerce.com Inc (b)
 
1,937
5,172
Fastly Inc Class A (b)
 
39
1,132
MongoDB Inc Class A (b)
 
26
6,364
Okta Inc Class A (b)
 
132
10,390
Twilio Inc Class A (b)
 
115
14,469
 
 
 
39,466
Semiconductors & Semiconductor Equipment - 15.6%
 
 
 
Advanced Micro Devices Inc (b)
 
170
34,583
Ambarella Inc (b)
 
67
3,449
Analog Devices Inc
 
267
84,943
Broadcom Inc
 
982
303,940
Cirrus Logic Inc (b)
 
47
6,797
Credo Technology Group Holding Ltd (b)
 
108
10,138
KLA Corp
 
25
36,810
Lam Research Corp
 
407
86,960
MACOM Technology Solutions Holdings Inc (b)
 
19
4,219
Marvell Technology Inc
 
658
65,175
MaxLinear Inc (b)
 
291
5,060
Micron Technology Inc
 
372
125,676
NVIDIA Corp
 
4,218
735,620
Qorvo Inc (b)
 
68
5,263
QUALCOMM Inc
 
641
82,548
Teradyne Inc
 
92
27,274
 
 
 
1,618,455
Software - 7.2%
 
 
 
8x8 Inc (b)
 
2,212
3,672
ACI Worldwide Inc (b)
 
88
3,609
Adobe Inc (b)
 
339
82,404
Alarm.com Holdings Inc (b)
 
115
4,967
Appian Corp Class A (b)
 
198
4,774
Asana Inc Class A (b)
 
653
4,179
Atlassian Corp Class A (b)
 
129
8,804
Blackbaud Inc (b)
 
111
4,286
Cadence Design Systems Inc (b)
 
17
4,724
Clear Secure Inc Class A
 
123
5,954
Crowdstrike Holdings Inc Class A (b)
 
67
26,157
CS Disco Inc (b)
 
388
1,482
Docusign Inc (b)
 
162
7,680
Domo Inc Class B (b)
 
327
1,000
Elastic NV (b)
 
96
4,799
Five9 Inc (b)
 
234
3,550
Fortinet Inc (b)
 
514
42,004
Freshworks Inc Class A (b)
 
456
3,662
HubSpot Inc (b)
 
37
9,032
LiveRamp Holdings Inc (b)
 
196
5,198
Microsoft Corp
 
1,031
381,645
OneSpan Inc
 
442
4,654
Ooma Inc (b)
 
421
6,126
PagerDuty Inc (b)
 
743
4,614
Progress Software Corp (b)
 
127
3,258
Q2 Holdings Inc (b)
 
108
5,108
Rapid7 Inc (b)
 
441
2,430
Red Violet Inc (b)
 
91
3,149
Salesforce Inc
 
236
44,054
ServiceNow Inc (b)
 
188
19,655
Sprout Social Inc Class A (b)
 
907
5,170
Tenable Holdings Inc (b)
 
287
4,855
Workday Inc Class A (b)
 
37
4,807
Workiva Inc Class A (b)
 
101
6,023
Xperi Inc (b)
 
937
5,247
Yext Inc (b)
 
990
3,802
Zoom Communications Inc Class A (b)
 
211
16,962
 
 
 
753,496
Technology Hardware, Storage & Peripherals - 5.3%
 
 
 
Apple Inc
 
2,126
539,558
Corsair Gaming Inc (b)
 
885
4,912
Diebold Nixdorf Inc (b)
 
71
5,356
 
 
 
549,826
TOTAL INFORMATION TECHNOLOGY
 
 
3,234,163
Materials - 4.3%
 
 
 
Chemicals - 1.8%
 
 
 
Albemarle Corp
 
36
6,463
Balchem Corp
 
35
5,932
DuPont de Nemours Inc
 
188
8,610
Ecolab Inc
 
200
53,204
Innospec Inc
 
19
1,387
International Flavors & Fragrances Inc
 
3
218
Linde PLC
 
223
110,555
Mativ Holdings Inc
 
537
4,672
 
 
 
191,041
Construction Materials - 0.6%
 
 
 
CRH PLC
 
546
57,396
United States Lime & Minerals Inc
 
38
4,963
 
 
 
62,359
Containers & Packaging - 0.1%
 
 
 
Ardagh Metal Packaging SA
 
1,126
4,560
O-I Glass Inc (b)
 
362
3,804
 
 
 
8,364
Metals & Mining - 1.8%
 
 
 
Commercial Metals Co
 
93
5,713
Constellium SE (b)
 
228
5,604
Freeport-McMoRan Inc
 
492
28,920
Hecla Mining Co
 
503
9,371
Kaiser Aluminum Corp
 
41
4,941
Materion Corp
 
39
5,641
Newmont Corp
 
772
83,569
Nucor Corp
 
197
33,313
Ryerson Holding Corp
 
62
1,394
Tredegar Corp (b)
 
578
4,595
Worthington Steel Inc
 
157
4,765
 
 
 
187,826
TOTAL MATERIALS
 
 
449,590
Real Estate - 1.3%
 
 
 
Health Care REITs - 0.1%
 
 
 
Chiron Real Estate Inc
 
148
4,895
Diversified Healthcare Trust
 
770
5,113
LTC Properties Inc
 
141
5,240
 
 
 
15,248
Industrial REITs - 0.0%
 
 
 
Industrial Logistics Properties Trust
 
831
4,720
Office REITs - 0.0%
 
 
 
Postal Realty Trust Inc Class A
 
262
4,863
Real Estate Management & Development - 0.2%
 
 
 
Compass Inc Class A (b)
 
522
3,816
Cushman & Wakefield Ltd
 
435
5,333
Newmark Group Inc Class A
 
321
4,812
RE/MAX Holdings Inc Class A (b)
 
531
3,058
 
 
 
17,019
Residential REITs - 0.1%
 
 
 
Veris Residential Inc
 
295
5,567
Retail REITs - 0.6%
 
 
 
Brixmor Property Group Inc
 
237
6,826
Phillips Edison & Co Inc
 
141
5,276
Simon Property Group Inc
 
261
48,684
 
 
 
60,786
Specialized REITs - 0.3%
 
 
 
Millrose Properties Inc Class A
 
198
5,544
VICI Properties Inc
 
870
23,768
 
 
 
29,312
TOTAL REAL ESTATE
 
 
137,515
Utilities - 0.5%
 
 
 
Electric Utilities - 0.2%
 
 
 
Edison International
 
1
73
NRG Energy Inc
 
116
16,952
 
 
 
17,025
Gas Utilities - 0.1%
 
 
 
Atmos Energy Corp
 
8
1,478
Southwest Gas Holdings Inc
 
72
6,257
 
 
 
7,735
Independent Power and Renewable Electricity Producers - 0.0%
 
 
 
Hallador Energy Co (b)
 
248
4,037
Multi-Utilities - 0.2%
 
 
 
Avista Corp
 
151
6,061
Sempra
 
63
6,122
Unitil Corp
 
98
5,120
 
 
 
17,303
Water Utilities - 0.0%
 
 
 
Consolidated Water Co Ltd
 
141
4,670
TOTAL UTILITIES
 
 
50,770
TOTAL UNITED STATES
 
 
10,143,641
 
TOTAL COMMON STOCKS
 (Cost $9,953,933)
 
 
 
10,214,833
 
 
 
 
U.S. Treasury Obligations - 0.6%
 
 
Yield (%) (c)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 4/2/2026
 (Cost $59,994)
 
3.51
60,000
59,994
 
 
 
 
 
Money Market Funds - 1.0%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (d)
 (Cost $107,421)
 
3.69
107,400
107,421
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.5%
 (Cost $10,121,348)
 
 
 
10,382,248
NET OTHER ASSETS (LIABILITIES) - 0.5%  
53,200
NET ASSETS - 100.0%
10,435,448
 
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Non-income producing.
 
(c)
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.
 
(d)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
 
 
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
-
1,789,098
1,681,678
1,718
1
-
107,421
107,400
0.0%
Total
-
1,789,098
1,681,678
1,718
1
-
107,421
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
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.
 
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.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
 
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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