Quarterly Holdings Report
for
Fidelity® SAI International Quality 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.
IQI-NPRT3-0926
1.9898215.106
Common Stocks - 98.6%
 
  
Shares
Value ($)
 
AUSTRALIA - 4.3%
 
  
  
Communication Services - 0.5%
  
  
  
Diversified Telecommunication Services - 0.3%
  
  
  
Telstra Group Ltd
 
1,666,580
5,883,652
Interactive Media & Services - 0.2%
  
  
  
REA Group Ltd
 
21,240
2,398,728
SEEK Ltd
 
151,130
1,559,313
 
  
  
3,958,041
TOTAL COMMUNICATION SERVICES
  
  
9,841,693
Consumer Discretionary - 2.1%
  
  
  
Broadline Retail - 1.4%
  
  
  
Wesfarmers Ltd
 
478,171
29,950,404
Hotels, Restaurants & Leisure - 0.6%
  
  
  
Aristocrat Leisure Ltd
 
259,228
11,651,020
Specialty Retail - 0.1%
  
  
  
JB Hi-Fi Ltd
 
46,256
2,660,974
TOTAL CONSUMER DISCRETIONARY
  
  
44,262,398
Financials - 1.0%
  
  
  
Capital Markets - 0.3%
  
  
  
ASX Ltd
 
81,856
3,157,491
HUB24 Ltd
 
34,451
2,051,411
 
  
  
5,208,902
Insurance - 0.7%
  
  
  
Medibank Pvt Ltd
 
1,165,144
4,223,346
QBE Insurance Group Ltd
 
636,961
11,047,939
 
  
  
15,271,285
TOTAL FINANCIALS
  
  
20,480,187
Health Care - 0.2%
  
  
  
Health Care Equipment & Supplies - 0.1%
  
  
  
Cochlear Ltd
 
27,552
2,309,092
Health Care Technology - 0.1%
  
  
  
Pro Medicus Ltd
 
23,425
2,664,803
TOTAL HEALTH CARE
  
  
4,973,895
Industrials - 0.1%
  
  
  
Construction & Engineering - 0.1%
  
  
  
Ventia Services Group Pty Ltd
 
349,610
1,425,820
Information Technology - 0.2%
  
  
  
Software - 0.2%
  
  
  
Technology One Ltd
 
128,806
2,809,340
WiseTech Global Ltd
 
89,187
2,298,789
TOTAL INFORMATION TECHNOLOGY
  
  
5,108,129
Materials - 0.2%
  
  
  
Metals & Mining - 0.2%
  
  
  
Perseus Mining Ltd
 
571,669
1,956,980
Ramelius Resources Ltd
 
814,321
1,751,307
TOTAL MATERIALS
  
  
3,708,287
TOTAL AUSTRALIA
  
  
89,800,409
AUSTRIA - 0.1%
 
  
  
Industrials - 0.1%
  
  
  
Machinery - 0.1%
  
  
  
ANDRITZ AG
 
30,232
2,830,797
BELGIUM - 1.8%
 
  
  
Consumer Staples - 1.0%
  
  
  
Beverages - 1.0%
  
  
  
Anheuser-Busch InBev SA/NV
 
211,036
18,329,318
Financials - 0.2%
  
  
  
Insurance - 0.2%
  
  
  
Ageas SA/NV
 
60,643
5,028,001
Health Care - 0.6%
  
  
  
Pharmaceuticals - 0.6%
  
  
  
UCB SA
 
51,020
13,114,035
TOTAL BELGIUM
  
  
36,471,354
CHINA - 0.1%
 
  
  
Consumer Discretionary - 0.1%
  
  
  
Specialty Retail - 0.1%
  
  
  
Chow Tai Fook Jewellery Group Ltd (d)
  
918,200
1,448,298
DENMARK - 3.2%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Textiles, Apparel & Luxury Goods - 0.2%
  
  
  
Pandora A/S
 
33,423
4,186,898
Financials - 0.1%
  
  
  
Banks - 0.1%
  
  
  
Ringkjoebing Landbobank A/S
 
10,743
2,887,119
Health Care - 2.9%
  
  
  
Biotechnology - 0.1%
  
  
  
Zealand Pharma A/S (c)
  
27,230
1,277,063
Pharmaceuticals - 2.8%
  
  
  
ALK-Abello A/S Series B
 
55,705
1,907,823
Novo Nordisk A/S Series B
 
1,170,335
55,358,694
 
  
  
57,266,517
TOTAL HEALTH CARE
  
  
58,543,580
TOTAL DENMARK
  
  
65,617,597
FINLAND - 1.3%
 
  
  
Communication Services - 0.1%
  
  
  
Diversified Telecommunication Services - 0.1%
  
  
  
Elisa Oyj A Shares
 
60,884
2,455,888
Health Care - 0.2%
  
  
  
Pharmaceuticals - 0.2%
  
  
  
Orion Oyj B Shares
 
46,373
4,336,825
Industrials - 1.0%
  
  
  
Machinery - 1.0%
  
  
  
Kone Oyj B Shares
 
164,889
9,526,102
Konecranes Oyj A Shares
 
89,489
2,790,372
Wartsila OYJ Abp
 
205,280
6,945,325
TOTAL INDUSTRIALS
  
  
19,261,799
TOTAL FINLAND
  
  
26,054,512
FRANCE - 7.2%
 
  
  
Communication Services - 0.5%
  
  
  
Media - 0.5%
  
  
  
Publicis Groupe SA
 
95,776
10,222,225
Consumer Discretionary - 3.7%
  
  
  
Textiles, Apparel & Luxury Goods - 3.7%
  
  
  
Hermes International SCA
 
14,739
26,115,654
LVMH Moet Hennessy Louis Vuitton SE
 
93,645
51,423,773
TOTAL CONSUMER DISCRETIONARY
  
  
77,539,427
Consumer Staples - 2.1%
  
  
  
Personal Care Products - 2.1%
  
  
  
L'Oreal SA
 
97,106
43,250,562
Energy - 0.2%
  
  
  
Oil, Gas & Consumable Fuels - 0.2%
  
  
  
Gaztransport Et Technigaz SA
 
15,704
3,543,944
Health Care - 0.2%
  
  
  
Pharmaceuticals - 0.2%
  
  
  
Ipsen SA
 
16,311
3,144,869
Industrials - 0.2%
  
  
  
Professional Services - 0.2%
  
  
  
Bureau Veritas SA
 
147,867
4,716,385
Information Technology - 0.3%
  
  
  
Software - 0.3%
  
  
  
Dassault Systemes SE
 
278,165
6,471,513
TOTAL FRANCE
  
  
148,888,925
GERMANY - 9.4%
 
  
  
Communication Services - 0.1%
  
  
  
Interactive Media & Services - 0.1%
  
  
  
Scout24 SE (b)(e)
  
31,096
2,666,068
Consumer Staples - 0.2%
  
  
  
Personal Care Products - 0.2%
  
  
  
Beiersdorf AG (d)
  
37,816
3,512,769
Financials - 6.1%
  
  
  
Capital Markets - 1.2%
  
  
  
Deutsche Boerse AG
 
79,665
23,996,471
flatexDEGIRO SE
 
36,344
1,521,336
 
  
  
25,517,807
Insurance - 4.9%
  
  
  
Allianz SE
 
124,339
61,933,559
Hannover Rueck SE
 
25,511
7,372,153
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
55,272
33,201,898
 
  
  
102,507,610
TOTAL FINANCIALS
  
  
128,025,417
Industrials - 0.3%
  
  
  
Machinery - 0.3%
  
  
  
Gea Group Ag
 
61,301
4,357,992
Rational AG
 
2,165
1,682,688
TOTAL INDUSTRIALS
  
  
6,040,680
Information Technology - 2.7%
  
  
  
Software - 2.7%
  
  
  
Nemetschek SE
 
25,898
1,733,621
SAP SE
 
294,273
53,938,822
TOTAL INFORMATION TECHNOLOGY
  
  
55,672,443
TOTAL GERMANY
  
  
195,917,377
HONG KONG - 2.3%
 
  
  
Financials - 2.0%
  
  
  
Capital Markets - 1.3%
  
  
  
Hong Kong Exchanges & Clearing Ltd
 
504,200
26,270,258
Insurance - 0.7%
  
  
  
Prudential PLC
 
1,074,156
16,143,007
TOTAL FINANCIALS
  
  
42,413,265
Utilities - 0.3%
  
  
  
Electric Utilities - 0.3%
  
  
  
CK Infrastructure Holdings Ltd
 
254,500
2,031,483
Power Assets Holdings Ltd
 
577,000
4,344,569
TOTAL UTILITIES
  
  
6,376,052
TOTAL HONG KONG
  
  
48,789,317
ISRAEL - 2.1%
 
  
  
Communication Services - 0.1%
  
  
  
Diversified Telecommunication Services - 0.1%
  
  
  
Bezeq The Israeli Telecommunication Corp Ltd
 
1,174,034
2,812,457
Financials - 2.0%
  
  
  
Banks - 1.4%
  
  
  
Bank Hapoalim BM
 
555,578
13,510,916
Bank Leumi Le-Israel BM
 
379,343
8,984,341
First International Bank of Israel Ltd
 
22,072
1,707,123
Mizrahi Tefahot Bank Ltd
 
64,890
4,834,109
 
  
  
29,036,489
Capital Markets - 0.1%
  
  
  
Plus500 Ltd
 
29,709
1,565,576
Tel Aviv Stock Exchange Ltd
 
36,828
1,421,791
 
  
  
2,987,367
Insurance - 0.5%
  
  
  
Harel Insurance Investments & Financial Services Ltd
 
47,011
2,702,383
Menora Mivtachim Holdings Ltd
 
8,985
1,408,085
Phoenix Financial Ltd
 
96,465
5,428,425
 
  
  
9,538,893
TOTAL FINANCIALS
  
  
41,562,749
TOTAL ISRAEL
  
  
44,375,206
ITALY - 1.9%
 
  
  
Consumer Discretionary - 1.2%
  
  
  
Automobiles - 1.0%
  
  
  
Ferrari NV (Italy)
 
51,687
20,270,934
Textiles, Apparel & Luxury Goods - 0.2%
  
  
  
Moncler SpA
 
94,173
5,332,044
TOTAL CONSUMER DISCRETIONARY
  
  
25,602,978
Financials - 0.6%
  
  
  
Banks - 0.3%
  
  
  
FinecoBank Banca Fineco SpA
 
258,741
7,068,319
Capital Markets - 0.2%
  
  
  
Azimut Holding SpA
 
47,273
2,001,167
Banca Generali SpA
 
24,224
1,825,481
 
  
  
3,826,648
Financial Services - 0.1%
  
  
  
Banca Mediolanum SpA
 
91,454
2,443,512
TOTAL FINANCIALS
  
  
13,338,479
Health Care - 0.1%
  
  
  
Pharmaceuticals - 0.1%
  
  
  
Recordati Industria Chimica e Farmaceutica SpA
 
19,901
1,185,307
TOTAL ITALY
  
  
40,126,764
JAPAN - 22.2%
 
  
  
Communication Services - 0.3%
  
  
  
Entertainment - 0.3%
  
  
  
Capcom Co Ltd
 
144,300
3,624,869
Nexon Co Ltd
 
171,500
2,687,826
TOTAL COMMUNICATION SERVICES
  
  
6,312,695
Consumer Discretionary - 3.4%
  
  
  
Automobile Components - 0.2%
  
  
  
Niterra Co Ltd
 
69,700
4,070,385
Leisure Products - 0.4%
  
  
  
Bandai Namco Holdings Inc
 
273,800
7,931,775
Specialty Retail - 2.4%
  
  
  
Fast Retailing Co Ltd
 
88,800
43,482,632
Sanrio Co Ltd
 
448,400
3,598,015
USS Co Ltd
 
174,500
2,203,739
 
  
  
49,284,386
Textiles, Apparel & Luxury Goods - 0.4%
  
  
  
Asics Corp
 
309,400
9,122,486
TOTAL CONSUMER DISCRETIONARY
  
  
70,409,032
Energy - 0.4%
  
  
  
Oil, Gas & Consumable Fuels - 0.4%
  
  
  
Inpex Corp
 
388,900
8,963,627
Financials - 3.0%
  
  
  
Capital Markets - 0.2%
  
  
  
Japan Exchange Group Inc
 
436,500
5,937,756
Insurance - 2.8%
  
  
  
MS&AD Insurance Group Holdings Inc
 
511,500
15,745,796
Tokio Marine Holdings Inc
 
818,200
41,700,709
 
  
  
57,446,505
TOTAL FINANCIALS
  
  
63,384,261
Health Care - 2.6%
  
  
  
Health Care Equipment & Supplies - 1.7%
  
  
  
Asahi Intecc Co Ltd
 
99,900
2,253,858
Hoya Corp
 
143,200
21,897,719
Sysmex Corp
 
201,500
2,034,647
Terumo Corp
 
623,700
9,149,613
 
  
  
35,335,837
Pharmaceuticals - 0.9%
  
  
  
Chugai Pharmaceutical Co Ltd
 
269,900
11,711,326
Shionogi & Co Ltd
 
338,700
6,124,133
 
  
  
17,835,459
TOTAL HEALTH CARE
  
  
53,171,296
Industrials - 3.5%
  
  
  
Ground Transportation - 0.1%
  
  
  
Seibu Holdings Inc
 
104,800
2,346,983
Machinery - 0.8%
  
  
  
FANUC Corp
 
390,700
15,743,452
Professional Services - 2.6%
  
  
  
BayCurrent Inc
 
56,500
2,548,382
Recruit Holdings Co Ltd
 
661,600
52,319,873
 
  
  
54,868,255
TOTAL INDUSTRIALS
  
  
72,958,690
Information Technology - 8.5%
  
  
  
Electronic Equipment, Instruments & Components - 2.5%
  
  
  
Azbil Corp
 
199,300
2,063,755
Dexerials Corp
 
73,900
1,491,735
Hirose Electric Co Ltd
 
12,900
2,173,764
Keyence Corp
 
84,400
42,333,945
Maruwa Co Ltd/Aichi
 
3,600
1,218,979
Yokogawa Electric Corp
 
101,800
3,630,669
 
  
  
52,912,847
IT Services - 0.5%
  
  
  
Nomura Research Institute Ltd
 
184,400
5,455,207
Obic Co Ltd
 
139,000
3,987,015
 
  
  
9,442,222
Semiconductors & Semiconductor Equipment - 5.4%
  
  
  
Advantest Corp
 
288,000
56,903,600
Disco Corp
 
39,900
14,261,633
Lasertec Corp
 
33,900
7,787,925
Tokyo Electron Ltd
 
91,100
30,458,128
 
  
  
109,411,286
Software - 0.1%
  
  
  
Trend Micro Inc/Japan (d)
  
53,000
2,135,469
TOTAL INFORMATION TECHNOLOGY
  
  
173,901,824
Materials - 0.4%
  
  
  
Chemicals - 0.4%
  
  
  
Nissan Chemical Corp (d)
  
57,400
2,668,102
Nitto Denko Corp
 
285,900
6,037,184
TOTAL MATERIALS
  
  
8,705,286
Real Estate - 0.1%
  
  
  
Real Estate Management & Development - 0.1%
  
  
  
Daito Trust Construction Co Ltd
 
129,700
2,737,717
TOTAL JAPAN
  
  
460,544,428
MEXICO - 0.1%
 
  
  
Materials - 0.1%
  
  
  
Metals & Mining - 0.1%
  
  
  
Fresnillo PLC
 
77,940
2,599,830
NETHERLANDS - 7.1%
 
  
  
Communication Services - 0.4%
  
  
  
Entertainment - 0.4%
  
  
  
Universal Music Group NV
 
442,316
7,298,020
Energy - 0.0%
  
  
  
Oil, Gas & Consumable Fuels - 0.0%
  
  
  
Koninklijke Vopak NV
 
23,925
1,351,314
Financials - 0.7%
  
  
  
Financial Services - 0.7%
  
  
  
Adyen NV (b)(c)(e)
  
13,330
13,559,493
Industrials - 0.4%
  
  
  
Professional Services - 0.4%
  
  
  
Arcadis NV
 
30,993
1,451,742
Wolters Kluwer NV
 
98,371
7,722,976
TOTAL INDUSTRIALS
  
  
9,174,718
Information Technology - 5.6%
  
  
  
Semiconductors & Semiconductor Equipment - 5.6%
  
  
  
ASM International NV
 
19,617
18,124,220
ASML Holding NV
 
55,683
91,762,549
BE Semiconductor Industries NV
 
31,241
7,142,067
TOTAL INFORMATION TECHNOLOGY
  
  
117,028,836
TOTAL NETHERLANDS
  
  
148,412,381
NEW ZEALAND - 0.3%
 
  
  
Health Care - 0.3%
  
  
  
Health Care Equipment & Supplies - 0.3%
  
  
  
Fisher & Paykel Healthcare Corp Ltd
 
248,460
5,942,371
NORWAY - 0.5%
 
  
  
Energy - 0.1%
  
  
  
Oil, Gas & Consumable Fuels - 0.1%
  
  
  
Var Energi ASA
 
390,780
1,946,169
Financials - 0.1%
  
  
  
Insurance - 0.1%
  
  
  
Gjensidige Forsikring ASA
 
80,384
2,393,497
Industrials - 0.3%
  
  
  
Aerospace & Defense - 0.3%
  
  
  
Kongsberg Gruppen ASA
 
186,069
5,815,208
TOTAL NORWAY
  
  
10,154,874
SINGAPORE - 0.3%
 
  
  
Financials - 0.3%
  
  
  
Capital Markets - 0.3%
  
  
  
Singapore Exchange Ltd
 
344,600
6,569,526
SPAIN - 2.5%
 
  
  
Consumer Discretionary - 2.1%
  
  
  
Hotels, Restaurants & Leisure - 0.6%
  
  
  
Amadeus IT Group SA Class A
 
190,594
11,762,887
Specialty Retail - 1.5%
  
  
  
Industria de Diseno Textil SA
 
474,685
30,979,670
TOTAL CONSUMER DISCRETIONARY
  
  
42,742,557
Industrials - 0.4%
  
  
  
Transportation Infrastructure - 0.4%
  
  
  
Aena SME SA (b)(e)
  
309,649
9,526,674
TOTAL SPAIN
  
  
52,269,231
SWEDEN - 2.4%
 
  
  
Communication Services - 0.2%
  
  
  
Wireless Telecommunication Services - 0.2%
  
  
  
Tele2 AB B Shares
 
234,503
4,062,549
Consumer Discretionary - 0.2%
  
  
  
Hotels, Restaurants & Leisure - 0.2%
  
  
  
Evolution AB (b)(c)
  
61,417
4,696,799
Financials - 0.2%
  
  
  
Capital Markets - 0.2%
  
  
  
Avanza Bank Holding AB
 
50,748
2,085,943
Nordnet AB
 
55,045
2,109,956
TOTAL FINANCIALS
  
  
4,195,899
Health Care - 0.1%
  
  
  
Health Care Technology - 0.1%
  
  
  
Sectra AB B Shares
 
56,215
1,577,435
Industrials - 1.7%
  
  
  
Industrial Conglomerates - 0.0%
  
  
  
Lifco AB B Shares
 
5,792
197,077
Machinery - 1.7%
  
  
  
Atlas Copco AB A Shares
 
1,653,742
34,943,283
TOTAL INDUSTRIALS
  
  
35,140,360
TOTAL SWEDEN
  
  
49,673,042
SWITZERLAND - 9.1%
 
  
  
Financials - 2.9%
  
  
  
Capital Markets - 0.5%
  
  
  
Partners Group Holding AG
 
9,150
7,605,665
Swissquote Group Holding SA
 
46,042
2,385,106
 
  
  
9,990,771
Insurance - 2.4%
  
  
  
Zurich Insurance Group AG
 
64,919
49,450,632
TOTAL FINANCIALS
  
  
59,441,403
Health Care - 0.6%
  
  
  
Health Care Equipment & Supplies - 0.6%
  
  
  
Sonova Holding AG
 
20,938
5,697,767
Straumann Holding AG
 
47,696
5,906,687
TOTAL HEALTH CARE
  
  
11,604,454
Industrials - 4.5%
  
  
  
Building Products - 0.6%
  
  
  
Belimo Holding AG
 
4,163
4,325,462
Geberit AG
 
13,347
8,786,287
 
  
  
13,111,749
Electrical Equipment - 2.6%
  
  
  
ABB Ltd
 
501,553
49,482,686
Accelleron Industries AG
 
39,980
3,602,626
 
  
  
53,085,312
Machinery - 0.9%
  
  
  
Georg Fischer AG
 
32,618
2,087,923
Schindler Holding AG participation certificate
 
25,747
8,108,338
VAT Group AG (b)(e)
  
11,423
8,505,964
 
  
  
18,702,225
Professional Services - 0.4%
  
  
  
SGS SA
 
70,044
8,298,366
TOTAL INDUSTRIALS
  
  
93,197,652
Information Technology - 0.3%
  
  
  
Software - 0.0%
  
  
  
Temenos AG
 
23,425
1,939,890
Technology Hardware, Storage & Peripherals - 0.3%
  
  
  
Logitech International SA
 
59,860
6,077,443
TOTAL INFORMATION TECHNOLOGY
  
  
8,017,333
Materials - 0.8%
  
  
  
Chemicals - 0.8%
  
  
  
EMS-Chemie Holding AG
 
2,870
2,902,128
Givaudan SA
 
3,438
13,735,840
TOTAL MATERIALS
  
  
16,637,968
TOTAL SWITZERLAND
  
  
188,898,810
UNITED KINGDOM - 9.9%
 
  
  
Communication Services - 0.2%
  
  
  
Interactive Media & Services - 0.2%
  
  
  
Autotrader Group PLC (b)(e)
  
353,453
2,495,798
Rightmove PLC
 
322,605
2,020,038
TOTAL COMMUNICATION SERVICES
  
  
4,515,836
Consumer Discretionary - 0.6%
  
  
  
Broadline Retail - 0.5%
  
  
  
Next PLC
 
48,692
9,741,979
Leisure Products - 0.1%
  
  
  
Games Workshop Group PLC
 
13,980
3,602,503
TOTAL CONSUMER DISCRETIONARY
  
  
13,344,482
Consumer Staples - 3.4%
  
  
  
Personal Care Products - 2.8%
  
  
  
Unilever PLC
 
910,385
57,925,599
Tobacco - 0.6%
  
  
  
Imperial Brands PLC
 
314,678
11,942,307
TOTAL CONSUMER STAPLES
  
  
69,867,906
Financials - 1.2%
  
  
  
Capital Markets - 0.9%
  
  
  
3i Group PLC
 
433,522
16,689,639
IG Group Holdings PLC
 
142,269
2,799,448
 
  
  
19,489,087
Insurance - 0.3%
  
  
  
Admiral Group PLC
 
114,039
5,797,415
TOTAL FINANCIALS
  
  
25,286,502
Health Care - 2.2%
  
  
  
Pharmaceuticals - 2.2%
  
  
  
GSK PLC
 
1,724,480
44,841,416
Industrials - 2.0%
  
  
  
Machinery - 0.3%
  
  
  
IMI PLC
 
104,502
4,135,138
Rotork PLC
 
349,124
2,287,726
 
  
  
6,422,864
Passenger Airlines - 0.3%
  
  
  
International Consolidated Airlines Group SA
 
964,661
5,654,759
Professional Services - 1.3%
  
  
  
RELX PLC
 
767,403
26,991,067
Trading Companies & Distributors - 0.1%
  
  
  
Howden Joinery Group PLC
 
228,052
2,423,510
TOTAL INDUSTRIALS
  
  
41,492,200
Information Technology - 0.3%
  
  
  
IT Services - 0.0%
  
  
  
Softcat PLC
 
55,810
1,451,706
Software - 0.3%
  
  
  
Sage Group PLC/The
 
401,785
5,269,934
TOTAL INFORMATION TECHNOLOGY
  
  
6,721,640
TOTAL UNITED KINGDOM
  
  
206,069,982
UNITED STATES - 10.5%
 
  
  
Consumer Discretionary - 0.5%
  
  
  
Hotels, Restaurants & Leisure - 0.5%
  
  
  
InterContinental Hotels Group PLC
 
64,157
10,310,030
Health Care - 9.3%
  
  
  
Pharmaceuticals - 9.3%
  
  
  
Haleon PLC
 
3,768,223
18,447,564
Novartis AG
 
431,634
67,504,059
Roche Holding AG
 
158,559
69,350,563
Sanofi SA
 
454,025
39,096,857
TOTAL HEALTH CARE
  
  
194,399,043
Industrials - 0.7%
  
  
  
Professional Services - 0.7%
  
  
  
Experian PLC
 
386,653
14,588,308
TOTAL UNITED STATES
  
  
219,297,381
 
TOTAL COMMON STOCKS
 (Cost $1,760,462,226)
  
  
  
2,050,752,412
 
  
  
  
U.S. Treasury Obligations - 0.0%
 
  
Yield (%) (g)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 8/13/2026 (h)
 (Cost $874,946)
  
3.64
876,000
875,123
 
  
  
  
  
Money Market Funds - 1.4%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (i)
  
3.69
22,388,046
22,392,524
Fidelity Securities Lending Cash Central Fund (i)(j)
  
3.72
7,185,975
7,186,693
 
TOTAL MONEY MARKET FUNDS
 (Cost $29,579,217)
  
  
  
29,579,217
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $1,790,916,389)
 
  
 
2,081,206,752
NET OTHER ASSETS (LIABILITIES) - 0.0% (f)
800,988
NET ASSETS - 100.0%
2,082,007,740
 
  
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value and Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
  
  
  
  
ICE MSCI EAFE Index Contracts (United States)
197
9/2026
31,345,655
287,441

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 $41,450,796 or 2.0% of net assets.
 
(c)
Non-income producing.
 
(d)
Security or a portion of the security is on loan at period end.
 
(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 $36,753,997 or 1.8% of net assets.
 
(f)
Includes $242,588 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 $875,123.
 
(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.
 
 
 
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
16,554,665
311,433,160
305,592,470
610,855
(2,831)
-
22,392,524
22,388,046
Fidelity Securities Lending Cash Central Fund
21,806,250
41,248,000
55,869,907
69,758
2,350
-
7,186,693
7,185,975
 
38,360,915
352,681,160
361,462,377
680,613
(481)
-
29,579,217
  
 
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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