Quarterly Holdings Report
for
Fidelity® International Multifactor ETF
July 31, 2026
IES-NPRT3-0926
1.9892242.107
Common Stocks - 99.7%
 
  
Shares
Value ($)
 
AUSTRALIA - 3.8%
 
  
  
Financials - 2.0%
  
  
  
Banks - 1.1%
  
  
  
ANZ Group Holdings Ltd
 
54,143
1,418,800
Westpac Banking Corp
 
56,135
1,493,078
 
  
  
2,911,878
Financial Services - 0.3%
  
  
  
Washington H Soul Pattinson & Co Ltd
 
30,069
976,330
Insurance - 0.6%
  
  
  
Medibank Pvt Ltd
 
244,054
886,197
Steadfast Group Ltd
 
212,655
763,220
 
  
  
1,649,417
TOTAL FINANCIALS
  
  
5,537,625
Industrials - 0.1%
  
  
  
Commercial Services & Supplies - 0.1%
  
  
  
Brambles Ltd
 
32,652
449,260
Information Technology - 0.3%
  
  
  
Software - 0.3%
  
  
  
Technology One Ltd
 
42,518
918,571
Materials - 1.4%
  
  
  
Metals & Mining - 1.4%
  
  
  
BHP Group Ltd
 
34,697
1,469,721
Fortescue Ltd
 
28,166
366,172
OceanaGold Corp
 
15,000
361,407
Rio Tinto Ltd
 
4,587
549,522
Rio Tinto PLC
 
11,390
1,099,637
TOTAL MATERIALS
  
  
3,846,459
TOTAL AUSTRALIA
  
  
10,751,915
AUSTRIA - 0.4%
 
  
  
Financials - 0.4%
  
  
  
Banks - 0.4%
  
  
  
Raiffeisen Bank International AG
 
18,220
1,245,203
BELGIUM - 0.3%
 
  
  
Industrials - 0.3%
  
  
  
Construction & Engineering - 0.3%
  
  
  
Ackermans & van Haaren NV
 
2,892
895,734
CANADA - 14.2%
 
  
  
Communication Services - 1.1%
  
  
  
Diversified Telecommunication Services - 1.1%
  
  
  
Quebecor Inc Class B
 
68,639
3,173,976
Consumer Discretionary - 0.2%
  
  
  
Broadline Retail - 0.2%
  
  
  
Dollarama Inc
 
5,002
680,922
Consumer Staples - 0.9%
  
  
  
Consumer Staples Distribution & Retail - 0.9%
  
  
  
Loblaw Cos Ltd
 
55,553
2,606,083
Energy - 4.5%
  
  
  
Oil, Gas & Consumable Fuels - 4.5%
  
  
  
ARC Resources Ltd
 
116,723
2,789,837
Canadian Natural Resources Ltd
 
77,675
3,697,570
Imperial Oil Ltd
 
20,993
2,719,805
Suncor Energy Inc
 
53,367
3,581,259
TOTAL ENERGY
  
  
12,788,471
Financials - 4.3%
  
  
  
Banks - 3.0%
  
  
  
Canadian Imperial Bank of Commerce
 
13,261
1,569,559
National Bank of Canada
 
7,334
1,185,433
Royal Bank of Canada
 
15,359
3,212,378
Toronto Dominion Bank
 
20,140
2,412,464
 
  
  
8,379,834
Insurance - 1.3%
  
  
  
Fairfax Financial Holdings Ltd Subordinate Voting Shares
 
462
773,121
Great-West Lifeco Inc
 
12,510
828,798
Manulife Financial Corp
 
27,675
1,228,247
Power Corp of Canada Subordinate Voting Shares
 
14,627
998,871
 
  
  
3,829,037
TOTAL FINANCIALS
  
  
12,208,871
Industrials - 1.0%
  
  
  
Professional Services - 0.5%
  
  
  
Thomson Reuters Corp
 
14,037
1,376,033
Trading Companies & Distributors - 0.5%
  
  
  
Finning International Inc
 
20,086
1,330,142
TOTAL INDUSTRIALS
  
  
2,706,175
Information Technology - 0.2%
  
  
  
IT Services - 0.2%
  
  
  
CGI Inc Class A
 
8,867
648,567
Software - 0.0%
  
  
  
Constellation Software Inc/Canada warrants 3/31/2040 (b)(c)
  
40
0
TOTAL INFORMATION TECHNOLOGY
  
  
648,567
Materials - 0.8%
  
  
  
Metals & Mining - 0.8%
  
  
  
Agnico Eagle Mines Ltd/CA
 
5,062
734,375
DPM Metals Inc
 
14,862
522,080
Kinross Gold Corp
 
21,233
489,183
Lundin Gold Inc
 
6,869
384,323
LunR Royalties Corp
 
1,439
19,028
TOTAL MATERIALS
  
  
2,148,989
Utilities - 1.2%
  
  
  
Multi-Utilities - 1.2%
  
  
  
Canadian Utilities Ltd Class A
 
84,157
3,342,644
TOTAL CANADA
  
  
40,304,698
CHINA - 1.0%
 
  
  
Consumer Discretionary - 0.4%
  
  
  
Broadline Retail - 0.3%
  
  
  
Prosus NV Class N
 
17,096
786,104
Specialty Retail - 0.1%
  
  
  
Chow Tai Fook Jewellery Group Ltd (f)
  
286,800
452,422
TOTAL CONSUMER DISCRETIONARY
  
  
1,238,526
Financials - 0.6%
  
  
  
Banks - 0.6%
  
  
  
BOC Hong Kong Holdings Ltd
 
218,500
1,454,512
TOTAL CHINA
  
  
2,693,038
COTE D'IVOIRE - 0.2%
 
  
  
Materials - 0.2%
  
  
  
Metals & Mining - 0.2%
  
  
  
Endeavour Mining PLC (United Kingdom)
 
10,709
507,578
DENMARK - 3.2%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Textiles, Apparel & Luxury Goods - 0.3%
  
  
  
Pandora A/S
 
6,897
862,025
Consumer Staples - 0.8%
  
  
  
Beverages - 0.8%
  
  
  
Carlsberg AS Series B
 
14,652
2,156,500
Financials - 0.3%
  
  
  
Banks - 0.3%
  
  
  
AL Sydbank
 
10,300
989,295
Health Care - 1.5%
  
  
  
Biotechnology - 0.5%
  
  
  
Genmab A/S (b)
  
4,505
1,288,728
Pharmaceuticals - 1.0%
  
  
  
Novo Nordisk A/S Series B
 
59,143
2,790,215
TOTAL HEALTH CARE
  
  
4,078,943
Industrials - 0.3%
  
  
  
Electrical Equipment - 0.3%
  
  
  
NKT A/S (b)
  
6,798
924,991
TOTAL DENMARK
  
  
9,011,754
FINLAND - 1.3%
 
  
  
Financials - 0.5%
  
  
  
Banks - 0.5%
  
  
  
Nordea Bank Abp (Sweden)
 
70,852
1,428,180
Health Care - 0.5%
  
  
  
Pharmaceuticals - 0.5%
  
  
  
Orion Oyj B Shares
 
15,362
1,433,423
Industrials - 0.3%
  
  
  
Machinery - 0.3%
  
  
  
Kone Oyj B Shares
 
14,205
818,812
TOTAL FINLAND
  
  
3,680,415
FRANCE - 7.6%
 
  
  
Consumer Staples - 0.8%
  
  
  
Food Products - 0.8%
  
  
  
Danone SA
 
30,426
2,363,648
Energy - 1.5%
  
  
  
Energy Equipment & Services - 0.7%
  
  
  
Technip Energies NV
 
55,007
1,892,320
Oil, Gas & Consumable Fuels - 0.8%
  
  
  
Gaztransport Et Technigaz SA
 
10,106
2,275,494
TOTAL ENERGY
  
  
4,167,814
Financials - 1.2%
  
  
  
Banks - 1.2%
  
  
  
BNP Paribas SA
 
17,252
2,176,673
Credit Agricole SA
 
51,189
1,135,211
TOTAL FINANCIALS
  
  
3,311,884
Health Care - 0.5%
  
  
  
Pharmaceuticals - 0.5%
  
  
  
Ipsen SA
 
7,919
1,523,394
Industrials - 2.1%
  
  
  
Aerospace & Defense - 0.3%
  
  
  
Dassault Aviation SA
 
2,830
970,956
Commercial Services & Supplies - 0.4%
  
  
  
SPIE SA
 
19,443
1,040,659
Construction & Engineering - 1.4%
  
  
  
Bouygues SA
 
19,438
1,090,488
Eiffage SA
 
7,096
1,006,250
Vinci SA
 
10,929
1,540,988
 
  
  
3,637,726
TOTAL INDUSTRIALS
  
  
5,649,341
Information Technology - 0.2%
  
  
  
IT Services - 0.2%
  
  
  
Capgemini SE
 
5,515
650,391
Utilities - 1.3%
  
  
  
Multi-Utilities - 1.3%
  
  
  
Engie SA
 
120,026
3,743,780
TOTAL FRANCE
  
  
21,410,252
GERMANY - 3.6%
 
  
  
Consumer Discretionary - 0.1%
  
  
  
Hotels, Restaurants & Leisure - 0.1%
  
  
  
TUI AG
 
50,523
436,667
Financials - 0.7%
  
  
  
Insurance - 0.7%
  
  
  
Hannover Rueck SE
 
3,559
1,026,159
Talanx AG
 
7,297
968,008
TOTAL FINANCIALS
  
  
1,994,167
Health Care - 1.0%
  
  
  
Health Care Providers & Services - 1.0%
  
  
  
Fresenius Medical Care AG
 
27,730
1,418,166
Fresenius SE & Co KGaA
 
25,249
1,293,317
TOTAL HEALTH CARE
  
  
2,711,483
Industrials - 1.6%
  
  
  
Commercial Services & Supplies - 0.2%
  
  
  
Bilfinger SE
 
6,820
647,357
Construction & Engineering - 0.4%
  
  
  
HOCHTIEF AG
 
2,429
1,238,605
Machinery - 1.0%
  
  
  
Gea Group Ag
 
14,109
1,000,771
KION Group AG
 
13,969
625,684
Knorr-Bremse AG
 
8,135
963,116
 
  
  
2,589,571
TOTAL INDUSTRIALS
  
  
4,475,533
Information Technology - 0.2%
  
  
  
IT Services - 0.2%
  
  
  
Bechtle AG
 
13,525
561,759
TOTAL GERMANY
  
  
10,179,609
HONG KONG - 0.4%
 
  
  
Financials - 0.4%
  
  
  
Insurance - 0.4%
  
  
  
Prudential PLC
 
69,482
1,043,520
INDONESIA - 0.1%
 
  
  
Industrials - 0.1%
  
  
  
Industrial Conglomerates - 0.1%
  
  
  
Jardine Matheson Holdings Ltd (Singapore)
 
6,077
403,574
ISRAEL - 2.8%
 
  
  
Financials - 1.9%
  
  
  
Banks - 1.7%
  
  
  
Bank Hapoalim BM
 
45,716
1,109,701
Bank Leumi Le-Israel BM
 
48,568
1,148,160
First International Bank of Israel Ltd
 
10,076
777,873
Israel Discount Bank Ltd Class A
 
81,794
853,693
Mizrahi Tefahot Bank Ltd
 
12,182
905,848
 
  
  
4,795,275
Capital Markets - 0.2%
  
  
  
Plus500 Ltd
 
13,010
684,571
TOTAL FINANCIALS
  
  
5,479,846
Information Technology - 0.9%
  
  
  
Electronic Equipment, Instruments & Components - 0.2%
  
  
  
Next Vision Stabilized Systems Ltd
 
7,320
567,738
Semiconductors & Semiconductor Equipment - 0.5%
  
  
  
Tower Semiconductor Ltd (b)
  
5,757
1,272,795
Software - 0.2%
  
  
  
Nice Ltd (b)
  
6,423
624,020
TOTAL INFORMATION TECHNOLOGY
  
  
2,464,553
TOTAL ISRAEL
  
  
7,944,399
ITALY - 2.7%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Hotels, Restaurants & Leisure - 0.2%
  
  
  
Lottomatica Group Spa
 
22,293
602,243
Financials - 1.5%
  
  
  
Banks - 1.0%
  
  
  
Banco BPM SpA
 
82,698
1,500,963
BPER Banca SPA
 
86,436
1,399,246
 
  
  
2,900,209
Financial Services - 0.5%
  
  
  
Poste Italiane SpA
 
43,707
1,318,025
TOTAL FINANCIALS
  
  
4,218,234
Utilities - 1.0%
  
  
  
Gas Utilities - 1.0%
  
  
  
Italgas SpA
 
264,666
2,724,160
TOTAL ITALY
  
  
7,544,637
JAPAN - 20.4%
 
  
  
Communication Services - 2.7%
  
  
  
Diversified Telecommunication Services - 1.0%
  
  
  
NTT Inc
 
2,821,400
2,700,464
Entertainment - 0.6%
  
  
  
Nexon Co Ltd
 
111,800
1,756,079
Wireless Telecommunication Services - 1.1%
  
  
  
KDDI Corp
 
169,600
3,111,331
TOTAL COMMUNICATION SERVICES
  
  
7,567,874
Consumer Discretionary - 2.0%
  
  
  
Automobile Components - 0.4%
  
  
  
Niterra Co Ltd
 
17,200
1,017,039
Automobiles - 0.2%
  
  
  
Subaru Corp
 
33,500
571,325
Broadline Retail - 0.3%
  
  
  
J Front Retailing Co Ltd
 
45,900
859,481
Hotels, Restaurants & Leisure - 0.3%
  
  
  
Food & Life Cos Ltd
 
27,200
949,630
Household Durables - 0.2%
  
  
  
Haseko Corp
 
33,900
591,879
Leisure Products - 0.3%
  
  
  
Bandai Namco Holdings Inc
 
30,800
891,551
Specialty Retail - 0.3%
  
  
  
USS Co Ltd
 
65,000
823,599
TOTAL CONSUMER DISCRETIONARY
  
  
5,704,504
Consumer Staples - 1.9%
  
  
  
Beverages - 0.5%
  
  
  
Suntory Beverage & Food Ltd
 
50,300
1,453,164
Food Products - 0.5%
  
  
  
Toyo Suisan Kaisha Ltd
 
23,200
1,510,240
Tobacco - 0.9%
  
  
  
Japan Tobacco Inc
 
54,500
2,442,189
TOTAL CONSUMER STAPLES
  
  
5,405,593
Energy - 0.9%
  
  
  
Oil, Gas & Consumable Fuels - 0.9%
  
  
  
Inpex Corp
 
114,000
2,596,816
Financials - 3.9%
  
  
  
Banks - 2.2%
  
  
  
77 Bank Ltd/The
 
50,600
1,110,673
Hachijuni Nagano Bank Ltd
 
74,100
1,167,171
Hokuhoku Financial Group Inc
 
26,300
1,233,693
Mebuki Financial Group Inc
 
126,300
1,187,446
Shizuoka Financial Group Inc
 
58,100
1,160,358
 
  
  
5,859,341
Insurance - 1.7%
  
  
  
Japan Post Holdings Co Ltd
 
89,900
1,344,901
MS&AD Insurance Group Holdings Inc
 
47,000
1,453,465
Tokio Marine Holdings Inc
 
41,900
2,135,196
 
  
  
4,933,562
TOTAL FINANCIALS
  
  
10,792,903
Health Care - 1.5%
  
  
  
Pharmaceuticals - 1.5%
  
  
  
Ono Pharmaceutical Co Ltd
 
151,800
2,272,829
Shionogi & Co Ltd
 
114,500
2,091,526
TOTAL HEALTH CARE
  
  
4,364,355
Industrials - 4.4%
  
  
  
Building Products - 0.3%
  
  
  
Sanwa Holdings Corp
 
37,200
804,160
Commercial Services & Supplies - 0.7%
  
  
  
Dai Nippon Printing Co Ltd
 
47,400
869,707
Secom Co Ltd
 
25,600
1,106,480
 
  
  
1,976,187
Construction & Engineering - 0.6%
  
  
  
Kajima Corp
 
23,000
777,573
Kinden Corp
 
19,300
859,394
 
  
  
1,636,967
Ground Transportation - 0.3%
  
  
  
Seibu Holdings Inc
 
32,000
715,866
Industrial Conglomerates - 0.3%
  
  
  
Sekisui Chemical Co Ltd
 
48,700
815,108
Trading Companies & Distributors - 2.2%
  
  
  
ITOCHU Corp
 
120,900
1,529,236
Mitsui & Co Ltd
 
48,500
1,503,812
Sojitz Corp
 
23,800
804,320
Sumitomo Corp
 
123,200
1,292,159
Toyota Tsusho Corp
 
26,900
1,135,637
 
  
  
6,265,164
TOTAL INDUSTRIALS
  
  
12,213,452
Information Technology - 1.6%
  
  
  
Electronic Equipment, Instruments & Components - 0.5%
  
  
  
Azbil Corp
 
72,400
757,307
Yokogawa Electric Corp
 
20,400
740,793
 
  
  
1,498,100
IT Services - 0.8%
  
  
  
NEC Corp
 
27,500
818,653
Obic Co Ltd
 
27,300
775,836
TISI Inc
 
27,000
640,980
 
  
  
2,235,469
Technology Hardware, Storage & Peripherals - 0.3%
  
  
  
Brother Industries Ltd
 
30,800
775,876
TOTAL INFORMATION TECHNOLOGY
  
  
4,509,445
Materials - 0.5%
  
  
  
Chemicals - 0.3%
  
  
  
Nissan Chemical Corp
 
18,900
890,606
Paper & Forest Products - 0.2%
  
  
  
Oji Holdings Corp
 
113,000
624,382
TOTAL MATERIALS
  
  
1,514,988
Utilities - 1.0%
  
  
  
Gas Utilities - 1.0%
  
  
  
Tokyo Gas Co Ltd
 
70,000
2,734,056
TOTAL JAPAN
  
  
57,403,986
MEXICO - 0.1%
 
  
  
Materials - 0.1%
  
  
  
Metals & Mining - 0.1%
  
  
  
Fresnillo PLC
 
11,706
389,895
NETHERLANDS - 3.3%
 
  
  
Communication Services - 1.0%
  
  
  
Diversified Telecommunication Services - 1.0%
  
  
  
Koninklijke KPN NV
 
534,623
2,528,719
Consumer Staples - 0.8%
  
  
  
Consumer Staples Distribution & Retail - 0.8%
  
  
  
Koninklijke Ahold Delhaize NV
 
58,229
2,301,961
Energy - 0.8%
  
  
  
Energy Equipment & Services - 0.8%
  
  
  
SBM Offshore NV
 
60,767
2,261,066
Financials - 0.4%
  
  
  
Banks - 0.4%
  
  
  
ABN AMRO Bank NV depository receipt (e)
  
28,357
1,272,420
Industrials - 0.3%
  
  
  
Professional Services - 0.3%
  
  
  
Wolters Kluwer NV
 
12,018
938,598
TOTAL NETHERLANDS
  
  
9,302,764
NEW ZEALAND - 0.7%
 
  
  
Health Care - 0.7%
  
  
  
Health Care Equipment & Supplies - 0.7%
  
  
  
Fisher & Paykel Healthcare Corp Ltd
 
81,848
1,957,107
NORWAY - 1.9%
 
  
  
Consumer Staples - 0.6%
  
  
  
Food Products - 0.6%
  
  
  
Orkla ASA
 
172,592
1,918,052
Energy - 1.3%
  
  
  
Oil, Gas & Consumable Fuels - 1.3%
  
  
  
Equinor ASA
 
87,843
3,578,851
TOTAL NORWAY
  
  
5,496,903
SINGAPORE - 1.3%
 
  
  
Financials - 1.3%
  
  
  
Banks - 0.8%
  
  
  
Oversea-Chinese Banking Corp Ltd
 
93,181
2,114,319
Capital Markets - 0.5%
  
  
  
Singapore Exchange Ltd
 
78,200
1,489,930
TOTAL SINGAPORE
  
  
3,604,249
SPAIN - 4.6%
 
  
  
Consumer Discretionary - 0.6%
  
  
  
Hotels, Restaurants & Leisure - 0.2%
  
  
  
Amadeus IT Group SA Class A
 
10,749
659,670
Specialty Retail - 0.4%
  
  
  
Industria de Diseno Textil SA
 
13,956
906,261
TOTAL CONSUMER DISCRETIONARY
  
  
1,565,931
Financials - 2.3%
  
  
  
Banks - 1.9%
  
  
  
Banco Santander SA
 
203,616
2,885,743
CaixaBank SA
 
99,893
1,444,119
Unicaja Banco SA (d)(e)
  
277,648
1,062,484
 
  
  
5,392,346
Insurance - 0.4%
  
  
  
Mapfre SA
 
198,488
1,012,594
TOTAL FINANCIALS
  
  
6,404,940
Information Technology - 0.2%
  
  
  
IT Services - 0.2%
  
  
  
Indra Sistemas SA
 
12,367
808,199
Utilities - 1.5%
  
  
  
Electric Utilities - 1.5%
  
  
  
Endesa SA
 
87,428
4,261,004
TOTAL SPAIN
  
  
13,040,074
SWEDEN - 2.4%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Hotels, Restaurants & Leisure - 0.2%
  
  
  
Evolution AB (b)(d)
  
8,841
674,844
Consumer Staples - 0.7%
  
  
  
Household Products - 0.7%
  
  
  
Essity AB B Shares
 
71,910
2,089,460
Financials - 0.4%
  
  
  
Banks - 0.4%
  
  
  
Skandinaviska Enskilda Banken AB A Shares
 
49,372
1,155,636
Industrials - 1.1%
  
  
  
Building Products - 0.3%
  
  
  
Assa Abloy AB B Shares
 
24,184
895,112
Machinery - 0.8%
  
  
  
Atlas Copco AB A Shares
 
64,296
1,355,339
SKF AB B Shares
 
27,762
750,214
 
  
  
2,105,553
TOTAL INDUSTRIALS
  
  
3,000,665
TOTAL SWEDEN
  
  
6,920,605
SWITZERLAND - 2.6%
 
  
  
Financials - 0.3%
  
  
  
Capital Markets - 0.3%
  
  
  
Swissquote Group Holding SA
 
16,610
859,807
Health Care - 1.1%
  
  
  
Health Care Equipment & Supplies - 0.4%
  
  
  
Sonova Holding AG
 
3,769
1,024,881
Health Care Providers & Services - 0.3%
  
  
  
Galenica AG (d)(e)
  
7,263
771,590
Pharmaceuticals - 0.4%
  
  
  
Sandoz Group AG
 
15,636
1,270,902
TOTAL HEALTH CARE
  
  
3,067,373
Industrials - 0.7%
  
  
  
Building Products - 0.3%
  
  
  
Geberit AG
 
1,486
977,503
Electrical Equipment - 0.4%
  
  
  
Accelleron Industries AG
 
11,400
1,026,501
TOTAL INDUSTRIALS
  
  
2,004,004
Information Technology - 0.3%
  
  
  
Technology Hardware, Storage & Peripherals - 0.3%
  
  
  
Logitech International SA
 
8,086
820,343
Materials - 0.2%
  
  
  
Chemicals - 0.2%
  
  
  
EMS-Chemie Holding AG
 
727
734,593
TOTAL SWITZERLAND
  
  
7,486,120
UNITED KINGDOM - 14.5%
 
  
  
Communication Services - 3.0%
  
  
  
Interactive Media & Services - 2.0%
  
  
  
Autotrader Group PLC (d)(e)
  
389,156
2,743,176
Rightmove PLC
 
428,163
2,677,026
 
  
  
5,420,202
Wireless Telecommunication Services - 1.0%
  
  
  
Vodafone Group PLC
 
1,867,982
2,962,557
TOTAL COMMUNICATION SERVICES
  
  
8,382,759
Consumer Discretionary - 0.4%
  
  
  
Leisure Products - 0.4%
  
  
  
Games Workshop Group PLC
 
4,051
1,042,352
Consumer Staples - 2.8%
  
  
  
Food Products - 0.6%
  
  
  
Associated British Foods PLC
 
62,082
1,743,623
Household Products - 0.6%
  
  
  
Reckitt Benckiser Group PLC
 
25,061
1,767,234
Personal Care Products - 1.0%
  
  
  
Unilever PLC
 
45,244
2,887,876
Tobacco - 0.6%
  
  
  
Imperial Brands PLC
 
43,011
1,635,168
TOTAL CONSUMER STAPLES
  
  
8,033,901
Financials - 2.3%
  
  
  
Banks - 1.6%
  
  
  
Barclays PLC
 
242,147
1,657,697
NatWest Group PLC
 
153,799
1,460,830
Standard Chartered PLC
 
47,226
1,390,570
 
  
  
4,509,097
Capital Markets - 0.3%
  
  
  
IG Group Holdings PLC
 
44,877
881,741
Insurance - 0.4%
  
  
  
Aviva PLC
 
113,829
1,062,187
TOTAL FINANCIALS
  
  
6,453,025
Health Care - 2.2%
  
  
  
Pharmaceuticals - 2.2%
  
  
  
Astrazeneca PLC
 
22,957
3,902,578
GSK PLC
 
85,901
2,232,839
TOTAL HEALTH CARE
  
  
6,135,417
Industrials - 1.8%
  
  
  
Aerospace & Defense - 0.5%
  
  
  
BAE Systems PLC
 
52,184
1,470,546
Construction & Engineering - 0.3%
  
  
  
Balfour Beatty PLC
 
74,555
865,367
Industrial Conglomerates - 0.5%
  
  
  
CK Hutchison Holdings Ltd
 
63,000
591,308
Smiths Group PLC
 
22,767
809,474
 
  
  
1,400,782
Professional Services - 0.5%
  
  
  
RELX PLC
 
38,520
1,351,424
TOTAL INDUSTRIALS
  
  
5,088,119
Information Technology - 0.2%
  
  
  
Electronic Equipment, Instruments & Components - 0.2%
  
  
  
Halma PLC
 
15,812
751,149
Utilities - 1.8%
  
  
  
Independent Power and Renewable Electricity Producers - 0.9%
  
  
  
Drax Group PLC
 
257,339
2,554,065
Multi-Utilities - 0.9%
  
  
  
Centrica PLC
 
1,226,537
2,558,449
TOTAL UTILITIES
  
  
5,112,514
TOTAL UNITED KINGDOM
  
  
40,999,236
UNITED STATES - 6.3%
 
  
  
Energy - 1.8%
  
  
  
Oil, Gas & Consumable Fuels - 1.8%
  
  
  
Shell PLC
 
113,970
5,189,447
Health Care - 4.1%
  
  
  
Health Care Equipment & Supplies - 0.4%
  
  
  
Alcon AG
 
16,232
1,111,091
Pharmaceuticals - 3.7%
  
  
  
Novartis AG
 
25,909
4,054,236
Roche Holding AG
 
9,659
4,221,522
Sanofi SA
 
24,065
2,061,924
 
  
  
10,337,682
TOTAL HEALTH CARE
  
  
11,448,773
Materials - 0.4%
  
  
  
Construction Materials - 0.4%
  
  
  
Buzzi SpA
 
10,268
485,667
Holcim AG
 
8,345
756,471
TOTAL MATERIALS
  
  
1,242,138
TOTAL UNITED STATES
  
  
17,880,358
 
TOTAL COMMON STOCKS
 (Cost $255,863,933)
  
  
  
282,097,623
 
  
  
  
U.S. Treasury Obligations - 0.0%
 
  
Yield (%) (h)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 8/13/2026 (i)
 (Cost $43,947)
  
3.64
44,000
43,956
 
  
  
  
  
Money Market Funds - 0.2%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (j)
  
3.69
146,886
146,916
Fidelity Securities Lending Cash Central Fund (j)(k)
  
3.72
447,727
447,771
 
TOTAL MONEY MARKET FUNDS
 (Cost $594,687)
  
  
  
594,687
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
 (Cost $256,502,567)
 
  
 
282,736,266
NET OTHER ASSETS (LIABILITIES) - 0.1% (g)
407,875
NET ASSETS - 100.0%
283,144,141
 
  
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value and Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
  
  
  
  
ICE MSCI EAFE Index Contracts (United States)
6
9/2026
954,690
9,344

Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Non-income producing.
 
(c)
Level 3 security.
 
(d)
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 $5,252,094 or 1.9% of net assets.
 
(e)
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 $5,849,670 or 2.1% of net assets.
 
(f)
Security or a portion of the security is on loan at period end.
 
(g)
Includes $65,000 of cash collateral to cover margin requirements for futures contracts.
 
(h)
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.
 
(i)
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 $43,956.
 
(j)
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.
 
(k)
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 $0.
 
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.
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
Fidelity Cash Central Fund
228,981
7,196,412
7,278,798
8,258
320
1
146,916
146,886
Fidelity Securities Lending Cash Central Fund
-
10,259,096
9,811,259
765
(65)
(1)
447,771
447,727
 
228,981
17,455,508
17,090,057
9,023
255
-
594,687
  
 
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.
 
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