Quarterly Holdings Report
for
Fidelity® Mid-Cap Stock Fund
July 31, 2026
MCS-NPRT1-0926
1.804824.122
Common Stocks - 97.5%
 
  
Shares
Value ($)
 
BELGIUM - 0.5%
 
  
  
Health Care - 0.5%
  
  
  
Pharmaceuticals - 0.5%
  
  
  
UCB SA
 
180,338
46,353,563
BRAZIL - 0.7%
 
  
  
Materials - 0.7%
  
  
  
Metals & Mining - 0.7%
  
  
  
ERO Copper Corp (a)
  
362,500
9,733,209
Wheaton Precious Metals Corp (United States) (b)
  
502,187
54,753,449
 
  
  
  
TOTAL BRAZIL
  
  
64,486,658
CANADA - 2.7%
 
  
  
Energy - 1.5%
  
  
  
Oil, Gas & Consumable Fuels - 1.5%
  
  
  
Imperial Oil Ltd
 
845,676
109,641,983
South Bow Corp
 
635,909
23,579,234
TOTAL ENERGY
  
  
133,221,217
Industrials - 0.9%
  
  
  
Commercial Services & Supplies - 0.9%
  
  
  
RB Global Inc (United States) (b)
  
771,392
84,652,558
Information Technology - 0.3%
  
  
  
Software - 0.3%
  
  
  
Descartes Systems Group Inc/The (United States) (a)
  
303,121
22,782,574
TOTAL CANADA
  
  
240,656,349
CHILE - 0.3%
 
  
  
Materials - 0.3%
  
  
  
Metals & Mining - 0.3%
  
  
  
Lundin Mining Corp
 
1,190,917
29,487,270
FINLAND - 0.3%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Textiles, Apparel & Luxury Goods - 0.3%
  
  
  
Amer Sports Inc (a)
  
673,320
23,909,593
GERMANY - 0.2%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Specialty Retail - 0.2%
  
  
  
Auto1 Group SE (a)
  
585,553
15,246,703
ISRAEL - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Semiconductors & Semiconductor Equipment - 0.1%
  
  
  
Nova Ltd (a)
  
31,528
12,323,349
ITALY - 1.9%
 
  
  
Consumer Discretionary - 1.1%
  
  
  
Hotels, Restaurants & Leisure - 0.2%
  
  
  
Lottomatica Group Spa
 
653,631
17,697,688
Textiles, Apparel & Luxury Goods - 0.9%
  
  
  
Brunello Cucinelli SpA
 
11,727
1,188,941
Brunello Cucinelli SpA non-voting shares
 
780,606
79,141,699
 
  
  
80,330,640
TOTAL CONSUMER DISCRETIONARY
  
  
98,028,328
Health Care - 0.4%
  
  
  
Pharmaceuticals - 0.4%
  
  
  
Recordati Industria Chimica e Farmaceutica SpA
 
596,904
35,551,720
Industrials - 0.4%
  
  
  
Electrical Equipment - 0.4%
  
  
  
Prysmian SpA
 
270,797
37,368,181
TOTAL ITALY
  
  
170,948,229
NETHERLANDS - 0.5%
 
  
  
Health Care - 0.5%
  
  
  
Biotechnology - 0.5%
  
  
  
Argenx SE (a)
  
47,339
40,545,726
TAIWAN - 0.2%
 
  
  
Information Technology - 0.2%
  
  
  
Semiconductors & Semiconductor Equipment - 0.2%
  
  
  
Silicon Motion Technology Corp ADR
 
61,000
15,469,600
THAILAND - 0.6%
 
  
  
Information Technology - 0.6%
  
  
  
Electronic Equipment, Instruments & Components - 0.6%
  
  
  
Fabrinet (a)
  
117,622
51,213,795
UNITED KINGDOM - 1.4%
 
  
  
Energy - 1.4%
  
  
  
Energy Equipment & Services - 1.4%
  
  
  
TechnipFMC PLC
 
1,750,174
125,417,469
UNITED STATES - 88.1%
 
  
  
Communication Services - 3.1%
  
  
  
Diversified Telecommunication Services - 1.9%
  
  
  
Space Exploration Technologies Corp (c)
  
1,545,272
167,461,127
Entertainment - 1.2%
  
  
  
Liberty Media Corp-Liberty Formula One Class A (a)
  
262,783
23,600,541
Live Nation Entertainment Inc (a)(b)
  
282,116
49,124,859
TKO Group Holdings Inc Class A (b)
  
188,822
34,329,728
 
  
  
107,055,128
TOTAL COMMUNICATION SERVICES
  
  
274,516,255
Consumer Discretionary - 9.1%
  
  
  
Broadline Retail - 0.3%
  
  
  
Etsy Inc (a)
  
380,119
31,048,120
Diversified Consumer Services - 1.2%
  
  
  
Duolingo Inc Class A (a)
  
251,084
33,848,634
Service Corp International/US
 
826,627
71,246,981
 
  
  
105,095,615
Hotels, Restaurants & Leisure - 1.0%
  
  
  
Dutch Bros Inc Class A (a)
  
547,600
36,048,508
Texas Roadhouse Inc
 
272,665
56,016,298
 
  
  
92,064,806
Household Durables - 2.9%
  
  
  
DR Horton Inc
 
226,933
32,465,035
NVR Inc (a)
  
3,638
22,362,968
SharkNinja Inc (a)
  
233,056
37,701,469
Somnigroup International Inc
 
1,173,883
76,689,776
Toll Brothers Inc
 
595,604
86,892,668
 
  
  
256,111,916
Specialty Retail - 2.5%
  
  
  
Burlington Stores Inc (a)
  
301,924
111,252,956
Urban Outfitters Inc (a)
  
358,425
26,587,966
Williams-Sonoma Inc
 
357,396
81,722,169
 
  
  
219,563,091
Textiles, Apparel & Luxury Goods - 1.2%
  
  
  
Ralph Lauren Corp Class A
 
120,126
45,688,722
Tapestry Inc
 
406,050
61,869,839
 
  
  
107,558,561
TOTAL CONSUMER DISCRETIONARY
  
  
811,442,109
Consumer Staples - 2.3%
  
  
  
Consumer Staples Distribution & Retail - 2.3%
  
  
  
BJ's Wholesale Club Holdings Inc (a)
  
810,319
79,232,992
Performance Food Group Co (a)
  
1,121,965
128,341,576
TOTAL CONSUMER STAPLES
  
  
207,574,568
Energy - 3.4%
  
  
  
Energy Equipment & Services - 0.4%
  
  
  
Kodiak Gas Services Inc
 
619,817
36,389,456
Oil, Gas & Consumable Fuels - 3.0%
  
  
  
APA Corp
 
630,226
23,520,034
Cheniere Energy Inc
 
223,301
58,855,445
Energy Transfer LP
 
1,854,945
37,766,680
Murphy Oil Corp
 
509,600
20,251,504
Ovintiv Inc
 
1,136,262
70,970,925
Range Resources Corp (b)
  
1,409,030
56,558,464
 
  
  
267,923,052
TOTAL ENERGY
  
  
304,312,508
Financials - 13.3%
  
  
  
Banks - 6.2%
  
  
  
East West Bancorp Inc
 
748,034
97,992,454
First Citizens BancShares Inc/NC Class A
 
10,453
22,857,052
Hancock Whitney Corp
 
393,557
30,303,889
Huntington Bancshares Inc/OH
 
4,070,057
69,353,771
KeyCorp
 
1,912,138
43,195,197
M&T Bank Corp
 
389,856
96,017,634
Old National Bancorp/IN
 
1,757,718
46,825,608
Pinnacle Financial Partners Inc
 
170,100
17,899,623
Wintrust Financial Corp
 
787,556
125,646,685
 
  
  
550,091,913
Capital Markets - 3.3%
  
  
  
Cboe Global Markets Inc
 
154,356
47,885,862
Evercore Inc Class A
 
160,808
51,548,612
Houlihan Lokey Inc Class A
 
234,881
29,475,217
Interactive Brokers Group Inc Class A
 
374,887
32,986,307
Raymond James Financial Inc
 
369,255
64,981,495
Stifel Financial Corp
 
778,223
64,522,469
 
  
  
291,399,962
Financial Services - 0.4%
  
  
  
Toast Inc Class A (a)
  
1,352,921
43,658,761
Insurance - 3.4%
  
  
  
American Financial Group Inc/OH
 
347,178
49,202,066
Arch Capital Group Ltd (a)
  
592,061
59,519,892
First American Financial Corp
 
852,497
63,928,750
Hartford Insurance Group Inc/The
 
358,888
50,929,796
Reinsurance Group of America Inc
 
332,275
78,699,334
 
  
  
302,279,838
TOTAL FINANCIALS
  
  
1,187,430,474
Health Care - 7.6%
  
  
  
Biotechnology - 2.0%
  
  
  
Biogen Inc (a)
  
114,865
23,311,852
Caris Life Sciences Inc (a)
  
786,400
12,322,888
Legend Biotech Corp ADR (a)
  
420,862
7,806,990
Moderna Inc (a)
  
571,552
31,332,481
Roivant Sciences Ltd (a)
  
2,076,300
70,407,333
United Therapeutics Corp (a)
  
63,083
32,658,700
 
  
  
177,840,244
Health Care Providers & Services - 1.9%
  
  
  
BrightSpring Health Services Inc (a)
  
941,007
56,187,528
Privia Health Group Inc (a)
  
576,326
13,641,636
Tenet Healthcare Corp (a)
  
395,996
100,891,861
 
  
  
170,721,025
Health Care Technology - 0.1%
  
  
  
Waystar Holding Corp (a)
  
606,811
12,809,780
Life Sciences Tools & Services - 1.8%
  
  
  
Bruker Corp (b)
  
894,418
56,205,227
Charles River Laboratories International Inc (a)
  
150,400
34,969,504
Repligen Corp (a)
  
300,102
42,317,383
West Pharmaceutical Services Inc
 
70,000
23,867,200
 
  
  
157,359,314
Pharmaceuticals - 1.8%
  
  
  
Elanco Animal Health Inc (a)
  
2,229,300
58,786,641
Royalty Pharma PLC Class A
 
1,161,835
67,886,019
Viatris Inc
 
1,898,100
33,330,636
 
  
  
160,003,296
TOTAL HEALTH CARE
  
  
678,733,659
Industrials - 24.5%
  
  
  
Aerospace & Defense - 5.5%
  
  
  
Beta Technologies Inc (d)
  
484,688
9,175,143
Beta Technologies Inc Class A (a)
  
1,218,535
23,066,868
BWX Technologies Inc
 
90,538
15,273,760
Carpenter Technology Corp
 
251,475
130,681,499
Curtiss-Wright Corp
 
114,500
82,898,000
Huntington Ingalls Industries Inc
 
76,082
24,836,969
Karman Holdings Inc (a)(b)
  
473,087
22,779,139
Leonardo DRS Inc
 
692,900
31,908,045
Textron Inc
 
449,600
38,332,896
Woodward Inc
 
301,496
108,764,682
 
  
  
487,717,001
Air Freight & Logistics - 0.4%
  
  
  
CH Robinson Worldwide Inc
 
224,742
33,201,136
Building Products - 1.6%
  
  
  
Carlisle Cos Inc (b)
  
131,150
47,203,508
Louisiana-Pacific Corp
 
349,110
25,286,037
Madison Air Solutions Corp Class A (b)
  
407,800
11,850,668
Masterbrand Inc (a)
  
914,800
7,547,100
Simpson Manufacturing Co Inc
 
277,300
52,060,302
 
  
  
143,947,615
Commercial Services & Supplies - 0.7%
  
  
  
GFL Environmental Inc Subordinate Voting Shares
 
713,120
29,448,598
OPENLANE Inc (a)
  
870,234
34,600,504
 
  
  
64,049,102
Construction & Engineering - 3.4%
  
  
  
AECOM
 
513,599
37,179,432
Centuri Holdings Inc (a)
  
1,244,047
34,634,268
Comfort Systems USA Inc
 
54,194
93,738,820
Construction Partners Inc Class A (a)
  
192,500
19,894,875
Granite Construction Inc
 
241,500
29,214,255
IES Holdings Inc (a)
  
40,000
29,781,600
Quanta Services Inc
 
82,644
55,153,300
 
  
  
299,596,550
Electrical Equipment - 3.3%
  
  
  
Acuity Inc
 
348,487
114,439,646
Forgent Power Solutions Inc Class A
 
1,024,600
34,088,442
Nextpower Inc Class A (a)
  
665,530
59,811,181
nVent Electric PLC
 
555,584
85,465,487
 
  
  
293,804,756
Ground Transportation - 1.6%
  
  
  
Lyft Inc Class A (a)
  
1,508,108
23,918,593
XPO Inc (a)
  
601,200
120,823,164
 
  
  
144,741,757
Machinery - 5.1%
  
  
  
Allison Transmission Holdings Inc
 
603,861
69,166,239
Atmus Filtration Technologies Inc
 
509,519
26,306,465
CECO Environmental Corp (a)
  
567,113
37,367,076
Crane Co
 
302,473
64,565,887
ITT Inc
 
497,474
97,494,955
RBC Bearings Inc (a)
  
164,740
90,822,809
Westinghouse Air Brake Technologies Corp
 
238,543
69,382,617
 
  
  
455,106,048
Professional Services - 1.5%
  
  
  
CACI International Inc (a)
  
84,900
42,258,975
FTI Consulting Inc (a)
  
385,857
61,497,889
TransUnion
 
411,854
32,379,961
 
  
  
136,136,825
Trading Companies & Distributors - 1.4%
  
  
  
Applied Industrial Technologies Inc
 
183,599
63,380,211
Herc Holdings Inc
 
256,600
38,525,924
Watsco Inc (b)
  
88,092
27,246,855
 
  
  
129,152,990
TOTAL INDUSTRIALS
  
  
2,187,453,780
Information Technology - 12.4%
  
  
  
Communications Equipment - 0.4%
  
  
  
Ciena Corp (a)
  
99,595
37,552,295
Electronic Equipment, Instruments & Components - 4.3%
  
  
  
Advanced Energy Industries Inc (b)
  
124,900
36,161,048
Belden Inc
 
318,664
39,530,269
Coherent Corp (a)
  
110,281
28,991,772
Flex Ltd (a)
  
1,381,799
157,179,636
Sanmina Corp (a)
  
231,555
42,967,346
TD SYNNEX Corp
 
308,400
78,857,880
 
  
  
383,687,951
IT Services - 2.4%
  
  
  
Okta Inc Class A (a)
  
476,300
67,601,259
Twilio Inc Class A (a)
  
756,328
149,261,331
 
  
  
216,862,590
Semiconductors & Semiconductor Equipment - 3.2%
  
  
  
MACOM Technology Solutions Holdings Inc (a)
  
289,600
72,817,024
ON Semiconductor Corp (a)
  
222,011
18,118,318
Onto Innovation Inc (a)
  
161,100
41,657,238
Rambus Inc (a)
  
544,600
49,574,938
Semtech Corp (a)
  
326,100
38,421,102
SiTime Corp (a)
  
50,202
26,868,110
Synaptics Inc (a)(b)
  
163,800
17,579,016
Veeco Instruments Inc (a)
  
458,574
22,928,700
 
  
  
287,964,446
Software - 1.2%
  
  
  
Manhattan Associates Inc (a)
  
143,900
27,536,704
Rubrik Inc Class A (a)
  
515,100
37,272,636
Samsara Inc Class A (a)
  
1,048,500
39,077,595
 
  
  
103,886,935
Technology Hardware, Storage & Peripherals - 0.9%
  
  
  
Everpure Inc Class A (a)
  
134,043
10,344,098
Western Digital Corp
 
128,634
70,084,949
 
  
  
80,429,047
TOTAL INFORMATION TECHNOLOGY
  
  
1,110,383,264
Materials - 4.7%
  
  
  
Chemicals - 1.3%
  
  
  
Celanese Corp
 
334,000
14,936,480
CF Industries Holdings Inc
 
475,710
59,554,135
Element Solutions Inc
 
1,098,500
40,347,905
 
  
  
114,838,520
Construction Materials - 0.6%
  
  
  
Eagle Materials Inc
 
182,865
37,476,353
James Hardie Industries PLC (a)
  
834,400
21,936,376
 
  
  
59,412,729
Containers & Packaging - 1.3%
  
  
  
AptarGroup Inc
 
279,861
37,490,180
Crown Holdings Inc (b)
  
640,213
75,449,102
 
  
  
112,939,282
Metals & Mining - 1.5%
  
  
  
Alcoa Corp
 
1,194,100
54,044,966
Hecla Mining Co
 
1,651,800
23,323,416
Steel Dynamics Inc
 
226,090
56,807,373
 
  
  
134,175,755
TOTAL MATERIALS
  
  
421,366,286
Real Estate - 6.1%
  
  
  
Health Care REITs - 1.5%
  
  
  
CareTrust REIT Inc
 
1,053,112
44,167,517
Ventas Inc
 
933,572
87,298,318
 
  
  
131,465,835
Industrial REITs - 0.7%
  
  
  
Terreno Realty Corp
 
930,167
66,646,466
Real Estate Management & Development - 1.8%
  
  
  
Compass Inc Class A (a)
  
2,533,988
28,862,123
Jones Lang LaSalle Inc (a)
  
361,607
128,381,334
 
  
  
157,243,457
Retail REITs - 1.5%
  
  
  
Macerich Co/The
 
1,366,631
35,313,745
NNN REIT Inc
 
1,418,445
67,404,506
Tanger Inc
 
844,286
34,328,669
 
  
  
137,046,920
Specialized REITs - 0.6%
  
  
  
CubeSmart
 
1,300,127
53,903,265
TOTAL REAL ESTATE
  
  
546,305,943
Utilities - 1.6%
  
  
  
Electric Utilities - 0.5%
  
  
  
IDACORP Inc
 
296,601
42,387,249
Independent Power and Renewable Electricity Producers - 0.4%
  
  
  
Talen Energy Corp (a)
  
58,282
19,472,016
Vistra Corp
 
109,748
16,263,556
 
  
  
35,735,572
Multi-Utilities - 0.7%
  
  
  
NiSource Inc
 
1,494,180
66,386,418
TOTAL UTILITIES
  
  
144,509,239
TOTAL UNITED STATES
  
  
7,874,028,085
 
TOTAL COMMON STOCKS
 (Cost $5,966,886,215)
  
  
  
8,710,086,389
 
  
  
  
Convertible Preferred Stocks - 0.0%
 
  
Shares
Value ($)
 
UNITED STATES - 0.0%
 
  
  
Health Care - 0.0%
  
  
  
Biotechnology - 0.0%
  
  
  
National Resilience LLC Series B (a)(e)(f)
  (Cost $9,723,611)
  
711,831
3,146,293
 
  
  
  
Money Market Funds - 3.3%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (h)
  
3.69
225,781,460
225,826,617
Fidelity Securities Lending Cash Central Fund (h)(i)
  
3.72
71,787,331
71,794,509
 
TOTAL MONEY MARKET FUNDS
 (Cost $297,608,187)
  
  
  
297,621,126
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.8%
 (Cost $6,274,218,013)
 
  
 
9,010,853,808
NET OTHER ASSETS (LIABILITIES) - (0.8)% (g)
(72,947,762)
NET ASSETS - 100.0%
8,937,906,046
 
  
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value and Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
  
  
  
  
CME E-Mini S&P MidCap 400 Index Contracts (United States)
423
9/2026
159,593,670
(919,636)

Legend
 
(a)
Non-income producing.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. At the end of the period, the total value of unadjusted equity securities subject to contractual sale restrictions is $167,461,127 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.
 
(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 $9,175,143 or 0.1% of net assets.
 
(e)
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues).  At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $3,146,293 or 0.0% of net assets.
 
(f)
Level 3 security.
 
(g)
Includes $9,213,815 of cash collateral to cover margin requirements for futures contracts.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
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 $149,439,020.
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
National Resilience LLC Series B
12/1/2020
9,723,611
 
  
  
Additional information on each lock-up restriction is as follows:
Security
Restriction Expiration Date
Space Exploration Technologies Corp
12/8/2026
 
  
 
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
279,096,703
422,123,007
475,402,341
1,814,065
(1,340)
10,588
225,826,617
225,781,460
Fidelity Securities Lending Cash Central Fund
138,738,714
421,913,157
488,857,362
528,097
-
-
71,794,509
71,787,331
 
417,835,417
844,036,164
964,259,703
2,342,162
(1,340)
10,588
297,621,126
  
 
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.
 
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.