Quarterly Holdings Report
for
Fidelity® SAI Canada Equity Index Fund
July 31, 2026
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.
CAE-NPRT3-0926
1.9912337.102
Common Stocks - 99.8%
 
  
Shares
Value ($)
 
BRAZIL - 1.6%
 
  
  
Materials - 1.6%
  
  
  
Metals & Mining - 1.6%
  
  
  
Wheaton Precious Metals Corp
 
2,347,798
255,371,287
CANADA - 96.5%
 
  
  
Communication Services - 0.8%
  
  
  
Diversified Telecommunication Services - 0.4%
  
  
  
BCE Inc
 
1,602,398
34,760,440
TELUS Corp
 
2,709,757
25,863,358
 
  
  
60,623,798
Wireless Telecommunication Services - 0.4%
  
  
  
Rogers Communications Inc Class B
 
1,885,237
63,825,194
TOTAL COMMUNICATION SERVICES
  
  
124,448,992
Consumer Discretionary - 3.1%
  
  
  
Automobile Components - 0.6%
  
  
  
Magna International Inc
 
1,347,437
92,408,313
Broadline Retail - 1.4%
  
  
  
Canadian Tire Corp Ltd Class A (e)
  
247,957
36,189,323
Dollarama Inc
 
1,410,130
192,097,961
 
  
  
228,287,284
Hotels, Restaurants & Leisure - 0.8%
  
  
  
Restaurant Brands International Inc
 
1,659,862
122,762,415
Textiles, Apparel & Luxury Goods - 0.3%
  
  
  
Gildan Activewear Inc
 
909,420
50,341,329
TOTAL CONSUMER DISCRETIONARY
  
  
493,799,341
Consumer Staples - 3.4%
  
  
  
Consumer Staples Distribution & Retail - 3.2%
  
  
  
Alimentation Couche-Tard Inc
 
3,560,435
231,148,261
Empire Co Ltd Class A
 
591,323
21,643,387
George Weston Ltd
 
779,744
58,275,692
Loblaw Cos Ltd
 
2,862,510
134,380,842
Metro Inc/CN
 
981,798
65,259,434
 
  
  
510,707,616
Food Products - 0.2%
  
  
  
Saputo Inc
 
1,256,496
35,341,611
TOTAL CONSUMER STAPLES
  
  
546,049,227
Energy - 17.9%
  
  
  
Oil, Gas & Consumable Fuels - 17.9%
  
  
  
ARC Resources Ltd
 
2,927,465
70,020,260
Cameco Corp
 
2,251,402
194,296,547
Canadian Natural Resources Ltd
 
10,784,725
513,752,495
Cenovus Energy Inc
 
6,816,587
205,540,630
Enbridge Inc
 
11,280,388
613,808,893
Imperial Oil Ltd
 
750,111
97,251,970
Keyera Corp
 
1,458,729
61,976,602
Pembina Pipeline Corp
 
3,004,933
146,918,791
Suncor Energy Inc
 
6,136,747
412,107,831
TC Energy Corp
 
5,383,248
362,505,697
Tourmaline Oil Corp
 
1,900,704
83,940,924
Whitecap Resources Inc
 
6,275,705
74,045,127
TOTAL ENERGY
  
  
2,836,165,767
Financials - 41.2%
  
  
  
Banks - 29.1%
  
  
  
Bank of Montreal
 
3,559,918
638,593,701
Bank of Nova Scotia/The
 
6,373,786
559,107,226
Canadian Imperial Bank of Commerce
 
4,747,637
562,326,674
National Bank of Canada
 
2,002,215
323,859,365
Royal Bank of Canada
 
7,226,468
1,512,514,160
Toronto Dominion Bank
 
8,562,820
1,026,426,702
 
  
  
4,622,827,828
Capital Markets - 3.8%
  
  
  
Brookfield Asset Management Ltd Class A
 
1,693,809
81,932,581
Brookfield Corp Class A
 
10,325,165
438,829,640
IGM Financial Inc
 
422,336
26,258,733
TMX Group Ltd
 
1,432,344
52,354,608
 
  
  
599,375,562
Insurance - 8.3%
  
  
  
Fairfax Financial Holdings Ltd Subordinate Voting Shares
 
97,739
163,675,263
Great-West Lifeco Inc
 
1,285,280
85,211,630
iA Financial Corp Inc
 
465,919
68,888,276
Intact Financial Corp
 
917,999
180,246,977
Manulife Financial Corp
 
8,669,160
385,021,152
Power Corp of Canada Subordinate Voting Shares
 
2,764,077
188,892,233
Sun Life Financial Inc
 
2,863,607
237,590,420
 
  
  
1,309,525,951
TOTAL FINANCIALS
  
  
6,531,729,341
Industrials - 8.9%
  
  
  
Aerospace & Defense - 0.9%
  
  
  
Bombardier Inc Class B (d)
  
432,636
104,232,609
CAE Inc (d)
  
1,497,300
38,622,083
 
  
  
142,854,692
Commercial Services & Supplies - 1.0%
  
  
  
Element Fleet Management Corp
 
2,056,939
46,161,359
RB Global Inc
 
961,202
105,428,127
 
  
  
151,589,486
Construction & Engineering - 1.1%
  
  
  
AtkinsRealis Group Inc
 
845,954
52,434,243
Stantec Inc
 
589,701
41,615,807
WSP Global Inc
 
697,001
85,155,588
 
  
  
179,205,638
Ground Transportation - 5.1%
  
  
  
Canadian National Railway Co
 
2,675,213
340,162,441
Canadian Pacific Kansas City Ltd
 
4,613,075
409,758,604
TFI International Inc
 
403,660
54,534,485
 
  
  
804,455,530
Professional Services - 0.4%
  
  
  
Thomson Reuters Corp
 
676,375
66,351,671
Trading Companies & Distributors - 0.4%
  
  
  
Toromont Industries Ltd
 
421,559
63,412,024
TOTAL INDUSTRIALS
  
  
1,407,869,041
Information Technology - 8.0%
  
  
  
Electronic Equipment, Instruments & Components - 1.2%
  
  
  
Celestica Inc (d)
  
594,437
196,698,285
IT Services - 5.2%
  
  
  
CGI Inc Class A
 
972,474
71,181,337
Shopify Inc Class A (d)
  
6,338,874
742,387,798
 
  
  
813,569,135
Software - 1.6%
  
  
  
Constellation Software Inc/Canada
 
104,084
222,964,804
Descartes Systems Group Inc/The (d)
  
444,591
33,389,122
 
  
  
256,353,926
TOTAL INFORMATION TECHNOLOGY
  
  
1,266,621,346
Materials - 10.4%
  
  
  
Chemicals - 1.1%
  
  
  
Nutrien Ltd
 
2,487,618
171,703,048
Containers & Packaging - 0.3%
  
  
  
CCL Industries Inc Class B
 
748,733
49,644,921
Metals & Mining - 9.0%
  
  
  
Agnico Eagle Mines Ltd/CA
 
2,629,993
381,821,291
Alamos Gold Inc Class A
 
2,171,194
60,341,490
Barrick Mining Corp
 
8,662,176
317,914,867
Equinox Gold Corp
 
5,577,254
49,969,904
Franco-Nevada Corp
 
996,812
212,069,202
Kinross Gold Corp
 
6,191,851
142,754,663
Lundin Gold Inc
 
499,893
27,989,158
Pan American Silver Corp
 
2,181,299
93,921,038
Teck Resources Ltd Class B
 
2,367,214
142,453,310
 
  
  
1,429,234,923
TOTAL MATERIALS
  
  
1,650,582,892
Real Estate - 0.2%
  
  
  
Real Estate Management & Development - 0.2%
  
  
  
FirstService Corp Subordinate Voting Shares
 
213,873
30,126,976
Utilities - 2.6%
  
  
  
Electric Utilities - 1.9%
  
  
  
Emera Inc
 
1,566,134
83,688,767
Fortis Inc/Canada
 
2,622,842
149,304,699
Hydro One Ltd (b)(c)
  
1,704,958
71,027,248
 
  
  
304,020,714
Gas Utilities - 0.4%
  
  
  
AltaGas Ltd
 
1,609,031
64,023,789
Independent Power and Renewable Electricity Producers - 0.1%
  
  
  
Brookfield Renewable Corp Class A
 
714,483
23,842,433
Multi-Utilities - 0.2%
  
  
  
Canadian Utilities Ltd Class A
 
663,628
26,377,538
TOTAL UTILITIES
  
  
418,264,474
TOTAL CANADA
  
  
15,305,657,397
CHILE - 0.6%
 
  
  
Materials - 0.6%
  
  
  
Metals & Mining - 0.6%
  
  
  
Lundin Mining Corp
 
3,534,796
87,522,038
CONGO DEMOCRATIC REPUBLIC OF - 0.2%
 
  
  
Materials - 0.2%
  
  
  
Metals & Mining - 0.2%
  
  
  
Ivanhoe Mines Ltd Class A (d)(e)
  
4,054,822
29,127,266
UNITED STATES - 0.3%
 
  
  
Industrials - 0.3%
  
  
  
Commercial Services & Supplies - 0.3%
  
  
  
GFL Environmental Inc Subordinate Voting Shares
 
1,264,314
52,210,392
ZAMBIA - 0.6%
 
  
  
Materials - 0.6%
  
  
  
Metals & Mining - 0.6%
  
  
  
First Quantum Minerals Ltd (d)
  
3,558,300
98,637,898
 
TOTAL COMMON STOCKS
 (Cost $12,162,094,586)
  
  
  
15,828,526,278
 
  
  
  
U.S. Treasury Obligations - 0.0%
 
  
Yield (%) (g)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 8/13/2026 (h)
 (Cost $1,541,143)
  
3.64
1,543,000
1,541,455
 
  
  
  
  
Money Market Funds - 0.3%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (i)
  
3.69
13,741,937
13,744,686
Fidelity Securities Lending Cash Central Fund (i)(j)
  
3.72
32,473,444
32,476,691
 
TOTAL MONEY MARKET FUNDS
 (Cost $46,220,637)
  
  
  
46,221,377
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.1%
 (Cost $12,209,856,366)
 
  
 
15,876,289,110
NET OTHER ASSETS (LIABILITIES) - (0.1)% (f)
(17,461,681)
NET ASSETS - 100.0%
15,858,827,429
 
  
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value and Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
  
  
  
  
TME S&P/TSX 60 Index Contracts (Canada)
101
9/2026
30,036,666
370,139

Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
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 $71,027,248 or 0.4% of net assets.
 
(c)
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 $71,027,248 or 0.4% of net assets.
 
(d)
Non-income producing.
 
(e)
Security or a portion of the security is on loan at period end.
 
(f)
Includes $591,409 of cash collateral to cover margin requirements for futures contracts.
 
(g)
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.
 
(h)
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 $1,541,455.
 
(i)
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.
 
(j)
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
3,242,046
772,709,665
762,208,069
327,346
304
740
13,744,686
13,741,937
Fidelity Securities Lending Cash Central Fund
-
1,311,284,332
1,278,807,667
1,038,993
26
-
32,476,691
32,473,444
 
3,242,046
2,083,993,997
2,041,015,736
1,366,339
330
740
46,221,377
  
 
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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