Quarterly Holdings Report
for
Fidelity ZERO® Large Cap Index Fund
July 31, 2026
LCX-NPRT3-0926
1.9891463.107
Common Stocks - 99.8%
 
  
Shares
Value ($)
 
AUSTRALIA - 0.1%
 
  
  
Materials - 0.1%
  
  
  
Metals & Mining - 0.1%
  
  
  
Anglogold Ashanti Plc
 
121,355
9,625,879
CANADA - 0.0%
 
  
  
Industrials - 0.0%
  
  
  
Commercial Services & Supplies - 0.0%
  
  
  
RB Global Inc (United States)
 
53,232
5,841,679
KOREA (SOUTH) - 0.0%
 
  
  
Consumer Discretionary - 0.0%
  
  
  
Broadline Retail - 0.0%
  
  
  
Coupang Inc Class A (c)
  
378,936
6,195,604
NETHERLANDS - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Semiconductors & Semiconductor Equipment - 0.1%
  
  
  
NXP Semiconductors NV
 
72,140
16,531,602
SWITZERLAND - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Electronic Equipment, Instruments & Components - 0.1%
  
  
  
TE Connectivity PLC
 
83,405
17,155,574
UNITED KINGDOM - 0.0%
 
  
  
Energy - 0.0%
  
  
  
Energy Equipment & Services - 0.0%
  
  
  
TechnipFMC PLC
 
113,923
8,163,722
UNITED STATES - 99.5%
 
  
  
Communication Services - 9.6%
  
  
  
Diversified Telecommunication Services - 0.7%
  
  
  
AST SpaceMobile Inc Class A (b)(c)
  
74,265
4,380,149
AT&T Inc
 
1,985,381
46,160,108
Comcast Corp Class A
 
1,018,011
24,391,544
Verizon Communications Inc
 
1,193,102
55,849,105
 
  
  
130,780,906
Entertainment - 1.1%
  
  
  
Electronic Arts Inc
 
64,356
13,505,750
Liberty Media Corp-Liberty Formula One Class A (c)
  
6,901
619,779
Liberty Media Corp-Liberty Formula One Class C (c)
  
63,991
6,279,437
Live Nation Entertainment Inc (b)(c)
  
45,216
7,873,462
Netflix Inc (c)
  
1,203,171
86,279,393
ROBLOX Corp Class A (c)
  
191,898
6,831,569
Take-Two Interactive Software Inc (c)
  
49,736
12,081,869
Walt Disney Co/The
 
496,181
47,727,650
Warner Bros Discovery Inc (c)
  
708,164
18,624,713
 
  
  
199,823,622
Interactive Media & Services - 7.6%
  
  
  
Alphabet Inc Class A
 
1,675,457
596,680,501
Alphabet Inc Class C
 
1,350,497
481,654,755
Meta Platforms Inc Class A
 
627,487
349,328,288
 
  
  
1,427,663,544
Media - 0.1%
  
  
  
Charter Communications Inc Class A (b)(c)
  
23,900
3,465,022
EchoStar Corp Class A (c)
  
38,940
3,274,465
Fox Corp Class A
 
56,829
3,309,153
Fox Corp Class B
 
39,922
2,073,548
Omnicom Group Inc
 
81,436
6,409,013
 
  
  
18,531,201
Wireless Telecommunication Services - 0.1%
  
  
  
T-Mobile US Inc
 
132,966
22,964,558
TOTAL COMMUNICATION SERVICES
  
  
1,799,763,831
Consumer Discretionary - 9.2%
  
  
  
Automobile Components - 0.0%
  
  
  
Aptiv PLC (c)
  
60,467
3,414,571
Automobiles - 1.5%
  
  
  
Ford Motor Co
 
1,118,321
16,416,952
General Motors Co
 
257,637
22,893,624
Tesla Inc (c)
  
804,430
250,346,660
 
  
  
289,657,236
Broadline Retail - 4.2%
  
  
  
Amazon.com Inc (c)
  
2,797,049
759,622,568
eBay Inc
 
126,866
14,463,993
 
  
  
774,086,561
Distributors - 0.0%
  
  
  
Genuine Parts Co
 
39,324
4,890,726
Hotels, Restaurants & Leisure - 1.6%
  
  
  
Airbnb Inc Class A (c)
  
119,417
18,094,064
Booking Holdings Inc
 
221,410
42,709,989
Carnival Corp Ltd
 
367,583
10,222,483
Chipotle Mexican Grill Inc (c)
  
366,522
13,641,949
Darden Restaurants Inc
 
32,727
6,662,563
DoorDash Inc Class A (c)
  
108,131
21,210,977
Expedia Group Inc Class A
 
32,716
9,642,714
Flutter Entertainment PLC (b)(c)
  
49,602
5,181,921
Hilton Worldwide Holdings Inc
 
65,047
20,846,913
Las Vegas Sands Corp
 
85,198
4,165,330
Marriott International Inc/MD Class A1
 
62,536
23,315,297
McDonald's Corp
 
203,016
54,944,250
Royal Caribbean Cruises Ltd
 
71,268
22,684,604
Starbucks Corp
 
325,652
34,274,873
Yum! Brands Inc
 
78,754
12,071,413
 
  
  
299,669,340
Household Durables - 0.2%
  
  
  
DR Horton Inc
 
75,357
10,780,572
Garmin Ltd
 
46,840
13,760,656
Lennar Corp Class A
 
61,398
5,056,125
Lennar Corp Class B
 
2,680
216,276
NVR Inc (c)
  
771
4,739,376
PulteGroup Inc
 
54,428
6,883,509
 
  
  
41,436,514
Specialty Retail - 1.5%
  
  
  
AutoZone Inc (c)
  
4,708
14,200,505
Best Buy Co Inc
 
55,989
4,829,611
Burlington Stores Inc (c)
  
17,953
6,615,321
Carvana Co Class A (c)
  
204,668
12,763,096
Home Depot Inc/The
 
284,600
94,475,817
Lowe's Cos Inc
 
160,030
33,255,834
O'Reilly Automotive Inc (c)
  
236,793
21,157,455
Ross Stores Inc
 
92,049
23,110,742
TJX Cos Inc/The
 
315,970
49,714,720
Tractor Supply Co
 
149,853
4,610,977
Ulta Beauty Inc (c)
  
12,447
6,383,195
Williams-Sonoma Inc
 
33,643
7,692,808
 
  
  
278,810,081
Textiles, Apparel & Luxury Goods - 0.2%
  
  
  
Deckers Outdoor Corp (c)
  
40,560
3,929,453
Lululemon Athletica Inc (c)
  
29,921
3,556,709
NIKE Inc Class B
 
342,738
14,295,603
Tapestry Inc
 
57,731
8,796,472
 
  
  
30,578,237
TOTAL CONSUMER DISCRETIONARY
  
  
1,722,543,266
Consumer Staples - 4.6%
  
  
  
Beverages - 1.0%
  
  
  
Coca-Cola Co/The
 
1,106,432
96,912,379
Constellation Brands Inc Class A
 
39,849
5,189,535
Keurig Dr Pepper Inc
 
388,759
12,098,180
Monster Beverage Corp (c)
  
203,999
19,661,424
PepsiCo Inc
 
390,533
54,502,785
 
  
  
188,364,303
Consumer Staples Distribution & Retail - 1.9%
  
  
  
Casey's General Stores Inc
 
10,560
9,197,760
Costco Wholesale Corp
 
126,767
120,668,240
Dollar General Corp
 
62,926
7,994,748
Dollar Tree Inc (c)
  
51,745
6,582,481
Kroger Co/The
 
162,079
9,358,441
Sysco Corp
 
136,634
11,646,682
Target Corp
 
129,774
18,751,045
US Foods Holding Corp (c)
  
62,925
6,329,626
Walmart Inc
 
1,252,675
139,297,461
 
  
  
329,826,484
Food Products - 0.3%
  
  
  
Archer-Daniels-Midland Co
 
137,712
10,916,430
Bunge Global SA
 
38,806
4,122,361
General Mills Inc
 
152,491
5,451,553
Hershey Co/The
 
42,354
7,414,068
Kraft Heinz Co/The
 
243,949
6,306,082
McCormick & Co Inc/MD
 
72,573
3,693,966
Mondelez International Inc
 
366,784
22,854,311
Tyson Foods Inc Class A
 
80,611
4,672,214
 
  
  
65,430,985
Household Products - 0.7%
  
  
  
Church & Dwight Co Inc
 
67,703
6,689,733
Clorox Co/The
 
34,551
3,300,657
Colgate-Palmolive Co
 
228,642
20,875,015
Kimberly-Clark Corp (b)
  
94,847
10,367,726
Procter & Gamble Co/The
 
665,362
96,138,155
 
  
  
137,371,286
Personal Care Products - 0.1%
  
  
  
Estee Lauder Cos Inc/The Class A
 
70,659
5,928,290
Kenvue Inc
 
548,614
10,555,333
 
  
  
16,483,623
Tobacco - 0.6%
  
  
  
Altria Group Inc
 
477,146
32,603,386
Philip Morris International Inc
 
445,335
84,978,825
 
  
  
117,582,211
TOTAL CONSUMER STAPLES
  
  
855,058,892
Energy - 3.4%
  
  
  
Energy Equipment & Services - 0.2%
  
  
  
Baker Hughes Co Class A
 
283,469
17,147,040
Halliburton Co
 
238,702
7,698,139
SLB Ltd
 
427,190
21,184,352
 
  
  
46,029,531
Oil, Gas & Consumable Fuels - 3.2%
  
  
  
Cheniere Energy Inc
 
59,876
15,781,517
Chevron Corp
 
534,925
105,289,288
ConocoPhillips
 
348,109
41,940,172
Devon Energy Corp
 
329,438
14,867,537
Diamondback Energy Inc
 
55,463
11,256,216
EOG Resources Inc
 
152,191
22,629,280
EQT Corp
 
178,721
9,524,042
Expand Energy Corp
 
68,356
6,427,515
ExxonMobil Holdings Corp
 
1,184,356
184,096,297
Kinder Morgan Inc
 
559,425
18,002,297
Marathon Petroleum Corp
 
83,417
26,398,978
Occidental Petroleum Corp
 
207,467
11,840,142
ONEOK Inc
 
180,022
16,347,798
Ovintiv Inc
 
78,691
4,915,039
Phillips 66
 
114,561
24,250,272
Targa Resources Corp
 
61,331
16,582,062
Texas Pacific Land Corp
 
16,555
6,664,712
Valero Energy Corp
 
84,844
26,547,688
Williams Cos Inc/The
 
349,453
24,999,868
 
  
  
588,360,720
TOTAL ENERGY
  
  
634,390,251
Financials - 12.4%
  
  
  
Banks - 3.6%
  
  
  
Bank of America Corp
 
1,865,524
115,569,212
Citigroup Inc
 
487,343
64,548,580
Citizens Financial Group Inc
 
120,832
8,657,613
Fifth Third Bancorp
 
258,965
14,631,523
First Citizens BancShares Inc/NC Class A
 
2,661
5,818,676
Huntington Bancshares Inc/OH
 
579,222
9,869,943
JPMorgan Chase & Co
 
765,630
269,340,978
KeyCorp
 
263,331
5,948,647
M&T Bank Corp
 
41,844
10,305,759
PNC Financial Services Group Inc/The
 
114,741
28,670,334
Regions Financial Corp
 
243,840
7,546,848
Truist Financial Corp
 
355,991
18,454,573
US Bancorp
 
443,546
27,947,833
Wells Fargo & Co
 
874,403
75,592,139
 
  
  
662,902,658
Capital Markets - 3.2%
  
  
  
Ameriprise Financial Inc
 
25,687
14,020,992
Ares Management Corp Class A
 
60,269
7,719,856
Bank of New York Mellon Corp/The
 
196,122
30,659,752
Blackrock Inc
 
41,251
44,979,678
Blackstone Inc
 
212,267
27,117,109
Cboe Global Markets Inc
 
29,903
9,276,808
Charles Schwab Corp/The
 
467,116
49,159,288
CME Group Inc Class A
 
103,538
27,726,441
Coinbase Global Inc Class A (c)
  
63,555
9,295,554
Goldman Sachs Group Inc/The
 
84,294
85,843,324
Interactive Brokers Group Inc Class A
 
127,290
11,200,247
Intercontinental Exchange Inc
 
161,586
24,638,633
KKR & Co Inc Class A
 
197,546
20,037,091
LPL Financial Holdings Inc
 
22,854
8,083,460
Moody's Corp
 
42,929
20,536,375
Morgan Stanley
 
342,521
72,073,269
MSCI Inc
 
20,801
11,903,164
Nasdaq Inc
 
127,660
12,024,295
Northern Trust Corp
 
52,874
9,633,114
Raymond James Financial Inc
 
49,560
8,721,569
Robinhood Markets Inc Class A (c)
  
226,069
19,568,533
S&P Global Inc
 
86,635
35,687,556
State Street Corp
 
79,082
14,563,741
T Rowe Price Group Inc (b)
  
61,224
6,841,782
Tradeweb Markets Inc Class A
 
33,155
3,332,077
 
  
  
584,643,708
Consumer Finance - 0.5%
  
  
  
American Express Co
 
152,072
51,134,211
Capital One Financial Corp
 
177,811
37,164,277
SoFi Technologies Inc Class A (b)(c)
  
366,524
5,978,006
Synchrony Financial
 
96,112
7,284,328
 
  
  
101,560,822
Financial Services - 3.5%
  
  
  
Apollo Global Management Inc
 
131,785
16,550,878
Berkshire Hathaway Inc Class B (c)
  
523,845
267,967,672
Block Inc Class A (c)
  
152,924
12,423,546
Corpay Inc (c)
  
18,676
7,136,286
Fidelity National Information Services Inc
 
147,690
6,612,081
Fiserv Inc (c)
  
152,369
8,218,784
Global Payments Inc
 
66,437
5,586,023
Mastercard Inc Class A
 
230,552
132,129,351
PayPal Holdings Inc
 
252,048
14,419,666
Visa Inc Class A
 
474,237
173,632,393
 
  
  
644,676,680
Insurance - 1.6%
  
  
  
AFLAC Inc
 
130,891
16,685,985
Allstate Corp/The
 
73,554
19,424,140
American International Group Inc
 
151,498
11,904,713
Aon PLC
 
61,026
22,002,924
Arch Capital Group Ltd (c)
  
99,430
9,995,698
Arthur J Gallagher & Co
 
73,405
18,308,675
Brown & Brown Inc
 
83,290
5,863,616
Chubb Ltd
 
103,067
36,143,536
Cincinnati Financial Corp
 
44,199
7,853,278
Everest Group Ltd
 
11,307
4,230,514
Hartford Insurance Group Inc/The
 
78,329
11,115,668
Markel Group Inc (c)
  
3,576
6,731,248
Marsh & McLennan Cos Inc
 
137,666
26,113,864
MetLife Inc
 
154,436
14,845,933
Principal Financial Group Inc
 
56,167
6,386,188
Progressive Corp/The
 
166,965
35,299,740
Prudential Financial Inc
 
99,150
12,104,232
Travelers Companies Inc/The
 
60,760
22,746,114
W R Berkley Corp
 
84,034
6,095,826
Willis Towers Watson PLC
 
26,987
9,065,473
 
  
  
302,917,365
TOTAL FINANCIALS
  
  
2,296,701,233
Health Care - 9.0%
  
  
  
Biotechnology - 1.8%
  
  
  
AbbVie Inc
 
504,834
126,683,044
Alnylam Pharmaceuticals Inc (c)
  
38,149
7,840,382
Amgen Inc
 
154,213
59,396,679
Biogen Inc (c)
  
42,185
8,561,446
Gilead Sciences Inc
 
354,760
46,193,300
Insmed Inc (c)
  
61,934
6,106,691
Natera Inc (c)
  
40,922
10,957,275
Regeneron Pharmaceuticals Inc
 
28,551
21,773,849
Revolution Medicines Inc (c)
  
57,101
10,708,151
United Therapeutics Corp (c)
  
12,129
6,279,305
Vertex Pharmaceuticals Inc (c)
  
72,521
34,599,769
 
  
  
339,099,891
Health Care Equipment & Supplies - 1.4%
  
  
  
Abbott Laboratories
 
497,696
52,606,467
Becton Dickinson & Co
 
78,731
13,039,428
Boston Scientific Corp (c)
  
424,703
19,846,371
Cooper Cos Inc/The (c)
  
55,751
4,031,912
Dexcom Inc (c)
  
110,257
9,200,947
Edwards Lifesciences Corp (c)
  
164,526
14,160,753
GE HealthCare Technologies Inc
 
129,978
8,841,104
IDEXX Laboratories Inc (c)
  
22,540
12,601,438
Insulet Corp (c)
  
19,791
3,272,442
Intuitive Surgical Inc (c)
  
101,197
35,755,936
Medtronic PLC
 
366,851
31,325,407
ResMed Inc
 
41,448
8,744,699
STERIS PLC
 
28,023
6,400,453
Stryker Corp
 
98,586
32,109,460
Zimmer Biomet Holdings Inc
 
55,279
5,192,356
 
  
  
257,129,173
Health Care Providers & Services - 1.6%
  
  
  
Cardinal Health Inc
 
66,921
15,393,838
Cencora Inc
 
55,593
17,308,325
Centene Corp (c)
  
134,040
8,339,969
Cigna Group/The
 
75,586
21,092,273
CVS Health Corp
 
364,577
38,072,776
Elevance Health Inc
 
62,051
23,321,248
HCA Healthcare Inc
 
44,371
17,863,321
Humana Inc
 
34,306
12,482,581
Labcorp Holdings Inc
 
23,430
7,244,556
McKesson Corp
 
34,346
29,406,702
Quest Diagnostics Inc
 
31,630
7,370,106
UnitedHealth Group Inc
 
259,488
107,531,827
 
  
  
305,427,522
Health Care Technology - 0.0%
  
  
  
Veeva Systems Inc Class A (c)
  
42,901
8,742,366
Life Sciences Tools & Services - 0.8%
  
  
  
Agilent Technologies Inc
 
80,749
11,173,239
Danaher Corp
 
179,989
35,094,255
Illumina Inc (c)
  
43,232
8,866,883
IQVIA Holdings Inc (c)
  
47,689
11,207,869
Mettler-Toledo International Inc (c)
  
5,774
8,177,716
Thermo Fisher Scientific Inc
 
106,185
60,982,046
Waters Corp (c)
  
28,055
10,585,432
West Pharmaceutical Services Inc
 
20,187
6,882,960
 
  
  
152,970,400
Pharmaceuticals - 3.4%
  
  
  
Bristol-Myers Squibb Co
 
583,491
38,107,797
Eli Lilly & Co
 
226,034
259,676,901
Johnson & Johnson
 
687,826
176,324,195
Merck & Co Inc
 
705,715
91,884,093
Pfizer Inc
 
1,628,529
40,729,510
Royalty Pharma PLC Class A
 
111,460
6,512,608
Viatris Inc
 
332,753
5,843,142
Zoetis Inc Class A
 
119,788
9,258,415
 
  
  
628,336,661
TOTAL HEALTH CARE
  
  
1,691,706,013
Industrials - 9.0%
  
  
  
Aerospace & Defense - 2.6%
  
  
  
ATI Inc (c)
  
38,994
7,309,035
Axon Enterprise Inc (c)
  
23,031
12,154,841
Boeing Co (c)
  
225,245
48,684,454
Carpenter Technology Corp
 
14,197
7,377,613
Curtiss-Wright Corp
 
10,555
7,641,820
FTAI Aviation Ltd
 
29,312
6,038,271
GE Aerospace
 
298,118
107,343,348
General Dynamics Corp
 
72,526
27,807,919
HEICO Corp
 
11,507
4,100,635
HEICO Corp Class A
 
22,173
5,704,669
Honeywell Aerospace Inc
 
90,528
18,715,759
Howmet Aerospace Inc
 
114,325
32,269,375
L3Harris Technologies Inc
 
53,231
14,748,181
Lockheed Martin Corp
 
57,975
33,784,352
Northrop Grumman Corp
 
38,149
20,695,070
Rocket Lab Corp (b)(c)
  
145,525
9,451,849
RTX Corp
 
384,794
82,815,365
Textron Inc
 
49,686
4,236,227
TransDigm Group Inc
 
15,982
20,047,501
Woodward Inc
 
17,025
6,141,769
 
  
  
477,068,053
Air Freight & Logistics - 0.3%
  
  
  
CH Robinson Worldwide Inc
 
33,680
4,975,546
Expeditors International of Washington Inc
 
37,372
6,274,385
FedEx Corp
 
62,724
19,281,358
United Parcel Service Inc Class B
 
213,325
22,232,732
 
  
  
52,764,021
Building Products - 0.4%
  
  
  
Carlisle Cos Inc
 
11,536
4,152,037
Carrier Global Corp
 
223,086
13,788,946
Johnson Controls International plc
 
174,331
25,567,384
Lennox International Inc
 
9,049
3,763,298
Masco Corp
 
57,642
4,120,250
Trane Technologies PLC
 
63,163
28,736,007
 
  
  
80,127,922
Commercial Services & Supplies - 0.4%
  
  
  
Cintas Corp
 
97,171
19,884,102
Copart Inc (c)
  
253,230
7,374,058
Republic Services Inc
 
57,142
12,031,248
Veralto Corp
 
70,176
6,608,473
Waste Management Inc
 
105,565
23,915,751
 
  
  
69,813,632
Construction & Engineering - 0.3%
  
  
  
Comfort Systems USA Inc
 
10,042
17,369,547
EMCOR Group Inc
 
12,698
10,125,766
MasTec Inc (c)
  
17,606
4,632,138
Quanta Services Inc
 
42,877
28,614,395
 
  
  
60,741,846
Electrical Equipment - 1.2%
  
  
  
AMETEK Inc
 
65,491
15,829,830
Bloom Energy Corp Class A (c)
  
74,773
15,389,031
Eaton Corp PLC
 
110,951
46,066,855
Emerson Electric Co
 
160,040
23,977,193
GE Vernova Inc
 
76,783
76,037,437
Hubbell Inc
 
15,099
7,135,032
Rockwell Automation Inc
 
31,795
15,264,144
Vertiv Holdings Co Class A
 
109,753
26,513,032
 
  
  
226,212,554
Ground Transportation - 0.9%
  
  
  
CSX Corp
 
530,935
26,759,124
Fedex Freight Holding Co Inc
 
31,060
4,364,861
JB Hunt Transport Services Inc
 
21,286
5,784,470
Norfolk Southern Corp
 
64,174
21,529,094
Old Dominion Freight Line Inc
 
52,293
11,093,437
Uber Technologies Inc (c)
  
581,641
40,924,261
Union Pacific Corp
 
169,644
49,558,102
XPO Inc (c)
  
33,548
6,742,142
 
  
  
166,755,491
Industrial Conglomerates - 0.3%
  
  
  
3M Co
 
149,030
26,271,009
Honeywell International Inc
 
90,528
22,002,830
 
  
  
48,273,839
Machinery - 1.7%
  
  
  
Caterpillar Inc
 
131,607
107,234,700
Cummins Inc
 
39,428
25,005,238
Deere & Co
 
71,776
42,539,482
Dover Corp
 
38,477
7,873,164
Fortive Corp
 
87,109
5,157,724
IDEX Corp
 
21,149
4,873,786
Illinois Tool Works Inc
 
74,807
21,465,869
Ingersoll Rand Inc
 
101,755
8,484,332
Otis Worldwide Corp
 
109,641
7,888,670
PACCAR Inc
 
150,378
19,952,153
Parker-Hannifin Corp
 
36,027
35,181,446
Snap-on Inc
 
14,802
6,074,889
Westinghouse Air Brake Technologies Corp
 
48,483
14,101,765
Xylem Inc/NY
 
67,917
7,944,251
 
  
  
313,777,469
Passenger Airlines - 0.1%
  
  
  
Delta Air Lines Inc
 
186,711
16,326,010
Southwest Airlines Co
 
139,660
6,280,510
United Airlines Holdings Inc (c)
  
92,741
11,252,266
 
  
  
33,858,786
Professional Services - 0.4%
  
  
  
Automatic Data Processing Inc
 
114,218
30,434,528
Broadridge Financial Solutions Inc
 
33,047
5,087,586
Equifax Inc
 
34,023
5,873,050
Jacobs Solutions Inc
 
33,740
4,552,538
Leidos Holdings Inc
 
35,941
4,154,780
Paychex Inc
 
92,139
10,765,521
SS&C Technologies Holdings Inc
 
59,180
4,559,819
TransUnion
 
55,090
4,331,176
Verisk Analytics Inc
 
37,438
7,294,794
 
  
  
77,053,792
Trading Companies & Distributors - 0.4%
  
  
  
Fastenal Co
 
328,034
15,650,502
Ferguson Enterprises Inc
 
55,415
12,985,397
Sunbelt Rentals Holdings Inc
 
117,224
8,430,750
United Rentals Inc
 
17,900
19,318,754
Watsco Inc
 
10,002
3,093,619
WW Grainger Inc
 
12,411
17,154,732
 
  
  
76,633,754
TOTAL INDUSTRIALS
  
  
1,683,081,159
Information Technology - 36.6%
  
  
  
Communications Equipment - 1.3%
  
  
  
Arista Networks Inc (c)
  
295,034
53,209,382
Ciena Corp (c)
  
40,402
15,233,574
Cisco Systems Inc
 
1,128,622
130,908,866
F5 Inc (c)
  
16,121
6,489,831
Lumentum Holdings Inc (c)
  
22,230
15,870,886
Motorola Solutions Inc
 
47,431
20,668,058
 
  
  
242,380,597
Electronic Equipment, Instruments & Components - 0.8%
  
  
  
Amphenol Corp Class A
 
351,521
56,489,425
CDW Corp/DE
 
36,503
5,395,508
Coherent Corp (c)
  
55,901
14,695,814
Corning Inc
 
223,782
30,937,862
Flex Ltd (c)
  
105,057
11,950,234
Jabil Inc
 
30,146
9,497,497
Keysight Technologies Inc (c)
  
49,004
15,636,196
Teledyne Technologies Inc (c)
  
13,238
8,678,436
 
  
  
153,280,972
IT Services - 1.0%
  
  
  
Accenture PLC Class A
 
175,424
29,106,350
Akamai Technologies Inc (b)(c)
  
41,542
4,784,808
Cloudflare Inc Class A (c)
  
91,300
25,470,874
Cognizant Technology Solutions Corp Class A
 
135,401
7,494,445
CoreWeave Inc Class A (b)(c)
  
75,454
5,415,334
IBM Corporation
 
268,558
60,062,997
MongoDB Inc Class A (c)
  
22,965
7,750,228
Okta Inc Class A (c)
  
47,906
6,799,299
Snowflake Inc (c)
  
98,779
28,969,905
Twilio Inc Class A (c)
  
43,367
8,558,477
VeriSign Inc
 
23,402
6,787,048
 
  
  
191,199,765
Semiconductors & Semiconductor Equipment - 16.7%
  
  
  
Advanced Micro Devices Inc (c)
  
465,919
221,847,332
Analog Devices Inc
 
139,497
51,252,593
Applied Materials Inc
 
226,762
115,120,265
Broadcom Inc
 
1,352,860
526,641,341
Credo Technology Group Holding Ltd (c)
  
46,379
9,599,989
Entegris Inc
 
43,575
5,187,603
First Solar Inc (c)
  
30,703
6,479,254
Intel Corp (c)
  
1,349,937
121,764,317
KLA Corp
 
373,250
68,237,565
Lam Research Corp
 
357,332
104,705,423
MACOM Technology Solutions Holdings Inc (c)
  
18,748
4,713,996
Marvell Technology Inc
 
250,176
46,923,011
Microchip Technology Inc
 
154,621
11,486,794
Micron Technology Inc
 
322,233
265,207,426
Monolithic Power Systems Inc
 
14,038
20,018,609
NVIDIA Corp
 
6,920,648
1,389,320,086
ON Semiconductor Corp (c)
  
111,980
9,138,688
Qnity Electronics Inc
 
59,815
7,846,532
QUALCOMM Inc
 
301,165
44,454,966
Teradyne Inc
 
44,730
16,446,774
Texas Instruments Inc
 
260,045
71,704,808
 
  
  
3,118,097,372
Software - 8.6%
  
  
  
Adobe Inc (c)
  
115,494
28,920,853
AppLovin Corp Class A (c)
  
76,875
30,434,813
Autodesk Inc (c)
  
60,331
14,129,520
Cadence Design Systems Inc (c)
  
78,810
26,796,976
Crowdstrike Holdings Inc Class A (c)
  
290,920
55,524,991
Datadog Inc Class A (c)
  
94,529
25,330,936
Fair Isaac Corp (c)
  
6,626
7,440,799
Fortinet Inc (c)
  
177,942
28,817,707
HubSpot Inc (c)
  
14,636
3,474,001
Intuit Inc
 
79,020
24,975,851
Microsoft Corp
 
2,122,563
986,397,478
Oracle Corp
 
484,854
62,967,989
Palantir Technologies Inc Class A (c)
  
656,067
80,735,605
Palo Alto Networks Inc (c)
  
231,731
76,895,298
PTC Inc (c)
  
33,004
4,528,149
Roper Technologies Inc
 
28,835
11,302,455
Salesforce Inc
 
233,746
43,013,939
ServiceNow Inc (c)
  
294,680
32,777,256
Strategy Inc Class A (b)(c)
  
94,523
8,817,105
Synopsys Inc (c)
  
54,736
21,279,167
Trimble Inc (c)
  
66,608
3,768,681
Tyler Technologies Inc (c)
  
12,049
3,730,370
Workday Inc Class A (c)
  
58,208
9,333,071
Zoom Communications Inc Class A (c)
  
76,018
7,303,049
Zscaler Inc (c)
  
29,404
4,445,885
 
  
  
1,603,141,944
Technology Hardware, Storage & Peripherals - 8.2%
  
  
  
Apple Inc
 
4,196,689
1,296,399,199
Dell Technologies Inc Class C
 
82,657
33,506,668
Hewlett Packard Enterprise Co
 
379,128
18,160,231
HP Inc
 
261,319
7,126,169
NetApp Inc
 
56,384
10,064,544
Sandisk Corp (c)
  
42,314
51,404,317
Seagate Technology Holdings PLC
 
64,070
54,852,249
Western Digital Corp
 
98,488
53,660,202
 
  
  
1,525,173,579
TOTAL INFORMATION TECHNOLOGY
  
  
6,833,274,229
Materials - 1.9%
  
  
  
Chemicals - 1.0%
  
  
  
Air Products and Chemicals Inc
 
63,628
18,763,261
Albemarle Corp
 
33,698
3,964,233
CF Industries Holdings Inc
 
43,897
5,495,465
Corteva Inc
 
191,105
15,041,875
Dow Inc
 
205,941
6,237,953
DuPont de Nemours Inc
 
39,043
5,348,891
Ecolab Inc
 
72,375
20,093,471
International Flavors & Fragrances Inc
 
72,949
5,779,020
Linde PLC
 
132,109
63,198,303
LyondellBasell Industries NV Class A1
 
73,785
4,580,573
PPG Industries Inc
 
63,690
7,039,019
Sherwin-Williams Co/The
 
65,539
22,338,968
Solstice Advanced Materials Inc
 
45,376
2,730,274
 
  
  
180,611,306
Construction Materials - 0.2%
  
  
  
Amrize Ltd (United States) (b)
  
147,093
7,194,319
CRH PLC
 
190,928
18,140,069
Martin Marietta Materials Inc
 
17,157
9,009,827
Vulcan Materials Co
 
37,076
9,957,501
 
  
  
44,301,716
Containers & Packaging - 0.2%
  
  
  
Amcor PLC
 
132,108
5,929,007
Avery Dennison Corp
 
21,856
3,709,619
Ball Corp
 
76,076
4,937,332
International Paper Co
 
151,301
6,177,620
Packaging Corp of America
 
25,300
6,219,752
Smurfit Westrock PLC
 
149,858
6,888,972
 
  
  
33,862,302
Metals & Mining - 0.5%
  
  
  
Coeur Mining Inc (b)
  
295,596
4,407,336
Freeport-McMoRan Inc
 
410,761
25,725,961
Newmont Corp
 
305,037
28,585,018
Nucor Corp
 
65,074
16,742,889
Reliance Inc
 
14,586
5,923,375
Royal Gold Inc
 
23,279
4,617,390
Steel Dynamics Inc
 
38,734
9,732,305
 
  
  
95,734,274
TOTAL MATERIALS
  
  
354,509,598
Real Estate - 1.7%
  
  
  
Diversified REITs - 0.0%
  
  
  
WP Carey Inc
 
63,644
4,684,198
Health Care REITs - 0.3%
  
  
  
Ventas Inc
 
138,916
12,990,035
Welltower Inc
 
201,704
47,287,486
 
  
  
60,277,521
Industrial REITs - 0.2%
  
  
  
Prologis Inc
 
266,402
38,524,393
Real Estate Management & Development - 0.1%
  
  
  
CBRE Group Inc Class A (c)
  
83,668
12,283,299
CoStar Group Inc (c)
  
116,681
3,355,746
 
  
  
15,639,045
Residential REITs - 0.2%
  
  
  
AvalonBay Communities Inc
 
39,695
7,367,789
Equity Residential
 
97,422
6,473,692
Essex Property Trust Inc
 
18,362
5,217,379
Invitation Homes Inc
 
156,159
4,641,045
Mid-America Apartment Communities Inc
 
33,255
4,400,967
Sun Communities Inc
 
33,099
4,087,064
 
  
  
32,187,936
Retail REITs - 0.2%
  
  
  
Realty Income Corp
 
266,446
17,017,906
Simon Property Group Inc
 
92,659
21,253,195
 
  
  
38,271,101
Specialized REITs - 0.7%
  
  
  
American Tower Corp
 
133,122
23,078,030
Crown Castle Inc
 
124,709
9,515,297
Digital Realty Trust Inc
 
94,384
17,793,272
Equinix Inc
 
28,180
28,723,310
Extra Space Storage Inc
 
60,365
8,936,435
Gaming and Leisure Properties Inc
 
80,926
3,624,675
Iron Mountain Inc
 
85,013
10,398,790
Public Storage
 
45,144
14,634,330
SBA Communications Corp Class A
 
30,306
5,484,780
VICI Properties Inc
 
312,262
8,228,104
Weyerhaeuser Co
 
206,027
5,156,856
 
  
  
135,573,879
TOTAL REAL ESTATE
  
  
325,158,073
Utilities - 2.1%
  
  
  
Electric Utilities - 1.4%
  
  
  
Alliant Energy Corp
 
73,799
5,223,492
American Electric Power Co Inc
 
155,470
19,876,840
Constellation Energy Corp
 
91,343
24,000,373
Duke Energy Corp
 
222,758
27,940,536
Edison International
 
109,949
8,066,958
Entergy Corp
 
130,834
14,080,355
Evergy Inc
 
65,866
5,467,537
Eversource Energy
 
107,459
7,692,990
Exelon Corp
 
292,366
13,396,210
FirstEnergy Corp
 
148,750
7,186,113
NextEra Energy Inc
 
595,855
51,791,717
NRG Energy Inc
 
60,286
8,095,807
PG&E Corp
 
629,252
10,936,400
PPL Corp
 
214,972
7,569,164
Southern Co/The
 
322,109
30,452,185
Xcel Energy Inc
 
178,376
13,949,003
 
  
  
255,725,680
Gas Utilities - 0.0%
  
  
  
Atmos Energy Corp
 
47,695
8,240,742
Independent Power and Renewable Electricity Producers - 0.1%
  
  
  
Vistra Corp
 
90,564
13,420,679
Multi-Utilities - 0.6%
  
  
  
Ameren Corp
 
79,078
8,667,740
CenterPoint Energy Inc
 
186,919
7,858,075
CMS Energy Corp
 
88,269
6,354,485
Consolidated Edison Inc
 
105,302
11,462,123
Dominion Energy Inc
 
251,291
17,381,798
DTE Energy Co
 
59,441
8,432,895
NiSource Inc
 
136,992
6,086,554
Public Service Enterprise Group Inc
 
142,388
10,918,312
Sempra
 
186,782
16,539,546
WEC Energy Group Inc
 
93,071
10,183,829
 
  
  
103,885,357
Water Utilities - 0.0%
  
  
  
American Water Works Co Inc
 
55,798
7,486,417
TOTAL UTILITIES
  
  
388,758,875
TOTAL UNITED STATES
  
  
18,584,945,420
 
TOTAL COMMON STOCKS
 (Cost $11,024,070,332)
  
  
  
18,648,459,480
 
  
  
  
U.S. Treasury Obligations - 0.0%
 
  
Yield (%) (e)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 8/13/2026 (f)
 (Cost $3,060,312)
  
3.64
3,064,000
3,060,932
 
  
  
  
  
Money Market Funds - 0.3%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (g)
  
3.69
41,687,597
41,695,935
Fidelity Securities Lending Cash Central Fund (g)(h)
  
3.72
23,378,835
23,381,173
 
TOTAL MONEY MARKET FUNDS
 (Cost $65,073,843)
  
  
  
65,077,108
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.1%
 (Cost $11,092,204,487)
 
  
 
18,716,597,520
NET OTHER ASSETS (LIABILITIES) - (0.1)% (d)
(10,786,815)
NET ASSETS - 100.0%
18,705,810,705
 
  
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value and Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
  
  
  
  
CME E-Mini S&P 500 Index Contracts (United States)
157
9/2026
59,026,113
606,565

Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Non-income producing.
 
(d)
Includes $535,498 of cash collateral to cover margin requirements for futures contracts.
 
(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 $3,060,932.
 
(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 $26,628,174.
 
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
8,184,349
1,207,539,581
1,174,011,954
3,036,062
(19,306)
3,265
41,695,935
41,687,597
Fidelity Securities Lending Cash Central Fund
5,663,000
348,889,017
331,169,864
42,807
(980)
-
23,381,173
23,378,835
 
13,847,349
1,556,428,598
1,505,181,818
3,078,869
(20,286)
3,265
65,077,108
  
 
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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