UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21990
Fidelity Commonwealth Trust II
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | August 31 |
Date of reporting period: | February 28, 2023 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Apple, Inc. | 9.7 | |
Microsoft Corp. | 7.7 | |
Amazon.com, Inc. | 3.4 | |
NVIDIA Corp. | 3.2 | |
Tesla, Inc. | 2.8 | |
UnitedHealth Group, Inc. | 2.6 | |
Alphabet, Inc. Class A | 2.1 | |
MasterCard, Inc. Class A | 2.1 | |
Visa, Inc. Class A | 1.8 | |
Alphabet, Inc. Class C | 1.8 | |
37.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 42.5 | |
Consumer Discretionary | 16.2 | |
Health Care | 11.6 | |
Industrials | 7.2 | |
Communication Services | 6.0 | |
Consumer Staples | 5.4 | |
Financials | 3.5 | |
Energy | 1.9 | |
Materials | 1.4 | |
Real Estate | 1.2 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 0.9% |
Common Stocks - 96.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.0% | |||
Entertainment - 1.2% | |||
Electronic Arts, Inc. (a) | 84,824 | 9,410,375 | |
Live Nation Entertainment, Inc. (b) | 14,700 | 1,059,282 | |
Netflix, Inc. (b) | 42,601 | 13,723,060 | |
24,192,717 | |||
Interactive Media & Services - 4.8% | |||
Alphabet, Inc.: | |||
Class A (b) | 494,800 | 44,561,688 | |
Class C (b) | 415,120 | 37,485,336 | |
Meta Platforms, Inc. Class A (b) | 110,948 | 19,409,243 | |
101,456,267 | |||
TOTAL COMMUNICATION SERVICES | 125,648,984 | ||
CONSUMER DISCRETIONARY - 16.2% | |||
Automobiles - 2.8% | |||
Tesla, Inc. (b) | 284,045 | 58,430,897 | |
Hotels, Restaurants & Leisure - 3.3% | |||
Airbnb, Inc. Class A (b) | 122,368 | 15,085,527 | |
Booking Holdings, Inc. (b) | 8,448 | 21,322,752 | |
Chipotle Mexican Grill, Inc. (b) | 5,220 | 7,783,438 | |
Expedia, Inc. (b) | 13,531 | 1,474,473 | |
McDonald's Corp. | 19,008 | 5,016,401 | |
Starbucks Corp. (a) | 145,711 | 14,875,636 | |
Yum! Brands, Inc. | 27,276 | 3,468,416 | |
69,026,643 | |||
Household Durables - 0.3% | |||
NVR, Inc. (b) | 1,262 | 6,529,108 | |
Internet & Direct Marketing Retail - 4.3% | |||
Amazon.com, Inc. (b) | 775,740 | 73,097,980 | |
eBay, Inc. | 187,782 | 8,619,194 | |
Etsy, Inc. (b) | 81,957 | 9,950,399 | |
91,667,573 | |||
Specialty Retail - 4.3% | |||
AutoZone, Inc. (b) | 612 | 1,521,762 | |
Lowe's Companies, Inc. | 95,662 | 19,682,457 | |
O'Reilly Automotive, Inc. (b) | 13,783 | 11,441,268 | |
The Home Depot, Inc. | 95,320 | 28,266,193 | |
TJX Companies, Inc. | 236,422 | 18,109,925 | |
Ulta Beauty, Inc. (b) | 21,248 | 11,023,462 | |
90,045,067 | |||
Textiles, Apparel & Luxury Goods - 1.2% | |||
NIKE, Inc. Class B | 219,202 | 26,039,006 | |
TOTAL CONSUMER DISCRETIONARY | 341,738,294 | ||
CONSUMER STAPLES - 5.4% | |||
Beverages - 2.1% | |||
PepsiCo, Inc. | 90,878 | 15,770,059 | |
The Coca-Cola Co. | 493,324 | 29,357,711 | |
45,127,770 | |||
Food & Staples Retailing - 1.0% | |||
Costco Wholesale Corp. | 44,037 | 21,321,835 | |
Food Products - 0.4% | |||
Mondelez International, Inc. | 143,660 | 9,363,759 | |
Household Products - 1.8% | |||
Colgate-Palmolive Co. | 196,193 | 14,380,947 | |
Procter & Gamble Co. | 165,062 | 22,705,929 | |
37,086,876 | |||
Personal Products - 0.1% | |||
Estee Lauder Companies, Inc. Class A | 7,054 | 1,714,475 | |
TOTAL CONSUMER STAPLES | 114,614,715 | ||
ENERGY - 1.9% | |||
Energy Equipment & Services - 0.1% | |||
Schlumberger Ltd. | 34,593 | 1,840,694 | |
Oil, Gas & Consumable Fuels - 1.8% | |||
Cheniere Energy, Inc. | 62,237 | 9,792,370 | |
ConocoPhillips Co. | 40,748 | 4,211,306 | |
EOG Resources, Inc. | 96,376 | 10,892,416 | |
Occidental Petroleum Corp. | 160,017 | 9,370,596 | |
Pioneer Natural Resources Co. | 13,134 | 2,632,185 | |
36,898,873 | |||
TOTAL ENERGY | 38,739,567 | ||
FINANCIALS - 3.5% | |||
Capital Markets - 2.2% | |||
Charles Schwab Corp. | 203,494 | 15,856,252 | |
FactSet Research Systems, Inc. | 24,229 | 10,044,132 | |
LPL Financial | 51,679 | 12,897,011 | |
MSCI, Inc. | 12,236 | 6,389,027 | |
Tradeweb Markets, Inc. Class A | 5,500 | 389,895 | |
45,576,317 | |||
Consumer Finance - 0.5% | |||
American Express Co. | 63,385 | 11,028,356 | |
Insurance - 0.8% | |||
Aon PLC | 11,636 | 3,537,926 | |
Marsh & McLennan Companies, Inc. | 25,871 | 4,194,724 | |
Progressive Corp. | 63,562 | 9,122,418 | |
16,855,068 | |||
TOTAL FINANCIALS | 73,459,741 | ||
HEALTH CARE - 11.6% | |||
Biotechnology - 2.8% | |||
AbbVie, Inc. | 129,268 | 19,894,345 | |
Alnylam Pharmaceuticals, Inc. (b) | 16,519 | 3,162,563 | |
Amgen, Inc. | 45,040 | 10,433,966 | |
Gilead Sciences, Inc. | 113,703 | 9,156,503 | |
Horizon Therapeutics PLC (b) | 3,620 | 396,354 | |
Incyte Corp. (b) | 59,002 | 4,541,974 | |
Regeneron Pharmaceuticals, Inc. (b) | 773 | 587,805 | |
Sarepta Therapeutics, Inc. (b) | 23,274 | 2,842,454 | |
Seagen, Inc. (b) | 2,022 | 363,333 | |
United Therapeutics Corp. (b) | 8,082 | 1,988,495 | |
Vertex Pharmaceuticals, Inc. (b) | 15,758 | 4,574,390 | |
Vir Biotechnology, Inc. (b) | 61,167 | 1,394,608 | |
59,336,790 | |||
Health Care Equipment & Supplies - 0.9% | |||
Abbott Laboratories | 15,658 | 1,592,732 | |
IDEXX Laboratories, Inc. (b) | 2,952 | 1,397,004 | |
Inspire Medical Systems, Inc. (b) | 37,749 | 9,812,098 | |
Intuitive Surgical, Inc. (b) | 833 | 191,082 | |
Shockwave Medical, Inc. (b) | 34,366 | 6,537,788 | |
19,530,704 | |||
Health Care Providers & Services - 3.8% | |||
Elevance Health, Inc. | 29,714 | 13,955,774 | |
Humana, Inc. | 22,527 | 11,151,316 | |
UnitedHealth Group, Inc. | 116,397 | 55,397,988 | |
80,505,078 | |||
Life Sciences Tools & Services - 0.5% | |||
Danaher Corp. | 38,846 | 9,615,550 | |
Pharmaceuticals - 3.6% | |||
Bristol-Myers Squibb Co. | 146,067 | 10,072,780 | |
Eli Lilly & Co. | 109,076 | 33,946,633 | |
Johnson & Johnson | 65,181 | 9,989,640 | |
Merck & Co., Inc. | 110,484 | 11,737,820 | |
Pfizer, Inc. | 251,336 | 10,196,702 | |
Royalty Pharma PLC | 2,843 | 101,922 | |
76,045,497 | |||
TOTAL HEALTH CARE | 245,033,619 | ||
INDUSTRIALS - 7.2% | |||
Aerospace & Defense - 1.8% | |||
Axon Enterprise, Inc. (b) | 18,155 | 3,636,628 | |
L3Harris Technologies, Inc. | 916 | 193,450 | |
Lockheed Martin Corp. | 46,280 | 21,948,753 | |
Parsons Corp. (b) | 39,360 | 1,772,381 | |
The Boeing Co. (b) | 51,971 | 10,474,755 | |
38,025,967 | |||
Air Freight & Logistics - 0.5% | |||
United Parcel Service, Inc. Class B | 58,943 | 10,756,508 | |
Building Products - 0.1% | |||
Allegion PLC | 8,524 | 960,740 | |
Trane Technologies PLC | 5,425 | 1,003,462 | |
1,964,202 | |||
Commercial Services & Supplies - 0.1% | |||
Cintas Corp. | 3,797 | 1,664,871 | |
Construction & Engineering - 0.0% | |||
Comfort Systems U.S.A., Inc. | 3,269 | 475,443 | |
Electrical Equipment - 0.4% | |||
Atkore, Inc. (b) | 25,541 | 3,729,497 | |
Emerson Electric Co. | 53,161 | 4,396,946 | |
8,126,443 | |||
Machinery - 2.0% | |||
Caterpillar, Inc. | 71,588 | 17,148,905 | |
Deere & Co. | 34,010 | 14,258,352 | |
Otis Worldwide Corp. | 117,418 | 9,935,911 | |
41,343,168 | |||
Professional Services - 0.0% | |||
Leidos Holdings, Inc. | 10,977 | 1,065,537 | |
Road & Rail - 2.1% | |||
CSX Corp. | 395,191 | 12,049,374 | |
Norfolk Southern Corp. | 45,515 | 10,232,682 | |
Union Pacific Corp. | 107,389 | 22,259,592 | |
44,541,648 | |||
Trading Companies & Distributors - 0.2% | |||
Fastenal Co. | 48,121 | 2,481,119 | |
W.W. Grainger, Inc. | 3,303 | 2,207,824 | |
4,688,943 | |||
TOTAL INDUSTRIALS | 152,652,730 | ||
INFORMATION TECHNOLOGY - 42.5% | |||
Communications Equipment - 0.8% | |||
Arista Networks, Inc. (b) | 50,652 | 7,025,432 | |
Cisco Systems, Inc. | 202,556 | 9,807,762 | |
16,833,194 | |||
Electronic Equipment & Components - 0.3% | |||
Amphenol Corp. Class A | 51,587 | 3,999,024 | |
Keysight Technologies, Inc. (b) | 7,191 | 1,150,272 | |
Vontier Corp. | 28,959 | 757,857 | |
5,907,153 | |||
IT Services - 6.3% | |||
Accenture PLC Class A | 35,626 | 9,460,484 | |
Amdocs Ltd. | 1,508 | 138,148 | |
Automatic Data Processing, Inc. | 15,914 | 3,498,215 | |
Gartner, Inc. (b) | 36,994 | 12,127,003 | |
MasterCard, Inc. Class A | 123,993 | 44,053,473 | |
PayPal Holdings, Inc. (b) | 176,887 | 13,018,883 | |
Snowflake, Inc. (b) | 10,595 | 1,635,656 | |
VeriSign, Inc. (b) | 40,296 | 7,931,462 | |
Visa, Inc. Class A | 177,064 | 38,943,456 | |
Wix.com Ltd. (b) | 14,790 | 1,338,939 | |
132,145,719 | |||
Semiconductors & Semiconductor Equipment - 9.4% | |||
Advanced Micro Devices, Inc. (b) | 55,697 | 4,376,670 | |
Applied Materials, Inc. | 86,462 | 10,042,561 | |
Broadcom, Inc. | 61,497 | 36,547,052 | |
Enphase Energy, Inc. (b) | 65,149 | 13,715,819 | |
KLA Corp. | 32,221 | 12,224,003 | |
Lam Research Corp. | 9,772 | 4,749,290 | |
Lattice Semiconductor Corp. (b) | 90,677 | 7,703,918 | |
NVIDIA Corp. | 289,227 | 67,146,940 | |
Qualcomm, Inc. | 208,355 | 25,738,093 | |
Semtech Corp. (b) | 81,875 | 2,522,569 | |
Texas Instruments, Inc. | 84,673 | 14,517,186 | |
199,284,101 | |||
Software - 15.1% | |||
Adobe, Inc. (b) | 83,293 | 26,982,767 | |
Cadence Design Systems, Inc. (b) | 83,629 | 16,135,379 | |
Crowdstrike Holdings, Inc. (b) | 106,314 | 12,831,037 | |
Dropbox, Inc. Class A (b) | 452,365 | 9,228,246 | |
Dynatrace, Inc. (b) | 72,461 | 3,081,766 | |
Fair Isaac Corp. (b) | 8,305 | 5,625,724 | |
Fortinet, Inc. (b) | 57,075 | 3,392,538 | |
Intuit, Inc. | 10,675 | 4,346,647 | |
Manhattan Associates, Inc. (b) | 26,837 | 3,857,819 | |
Microsoft Corp. | 653,343 | 162,956,811 | |
Palo Alto Networks, Inc. (b) | 88,420 | 16,655,675 | |
Salesforce.com, Inc. (b) | 60,223 | 9,853,085 | |
ServiceNow, Inc. (b) | 10,088 | 4,359,731 | |
Synopsys, Inc. (b) | 45,322 | 16,486,331 | |
Teradata Corp. (b) | 2,759 | 112,457 | |
Workday, Inc. Class A (b) | 77,073 | 14,294,729 | |
Zoom Video Communications, Inc. Class A (b) | 123,450 | 9,208,136 | |
319,408,878 | |||
Technology Hardware, Storage & Peripherals - 10.6% | |||
Apple, Inc. | 1,383,297 | 203,911,811 | |
NetApp, Inc. | 132,510 | 8,553,521 | |
Pure Storage, Inc. Class A (b) | 386,176 | 11,021,463 | |
223,486,795 | |||
TOTAL INFORMATION TECHNOLOGY | 897,065,840 | ||
MATERIALS - 1.4% | |||
Chemicals - 0.9% | |||
CF Industries Holdings, Inc. | 131,145 | 11,264,044 | |
Ecolab, Inc. | 42,660 | 6,798,724 | |
18,062,768 | |||
Containers & Packaging - 0.2% | |||
Sealed Air Corp. | 100,403 | 4,881,594 | |
Metals & Mining - 0.3% | |||
Nucor Corp. | 40,987 | 6,862,863 | |
TOTAL MATERIALS | 29,807,225 | ||
REAL ESTATE - 1.2% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
Crown Castle International Corp. | 11,842 | 1,548,342 | |
Prologis (REIT), Inc. | 41,595 | 5,132,823 | |
Public Storage | 48,591 | 14,526,279 | |
21,207,444 | |||
Real Estate Management & Development - 0.2% | |||
Zillow Group, Inc.: | |||
Class A (b) | 25,752 | 1,064,845 | |
Class C (a)(b) | 88,990 | 3,737,580 | |
4,802,425 | |||
TOTAL REAL ESTATE | 26,009,869 | ||
TOTAL COMMON STOCKS (Cost $1,533,047,633) | 2,044,770,584 | ||
Money Market Funds - 4.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.63% (c) | 80,397,094 | 80,413,173 | |
Fidelity Securities Lending Cash Central Fund 4.63% (c)(d) | 24,025,172 | 24,027,575 | |
TOTAL MONEY MARKET FUNDS (Cost $104,440,748) | 104,440,748 | ||
TOTAL INVESTMENT IN SECURITIES - 101.8% (Cost $1,637,488,381) | 2,149,211,332 |
NET OTHER ASSETS (LIABILITIES) - (1.8)% | (38,460,466) |
NET ASSETS - 100.0% | 2,110,750,866 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 301 | Mar 2023 | 59,831,275 | 309,398 | 309,398 |
The notional amount of futures purchased as a percentage of Net Assets is 2.8% |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | 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. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.63% | 33,751,495 | 456,925,057 | 410,263,379 | 893,735 | - | - | 80,413,173 | 0.2% |
Fidelity Securities Lending Cash Central Fund 4.63% | 831,850 | 62,567,216 | 39,371,491 | 1,958 | - | - | 24,027,575 | 0.1% |
Total | 34,583,345 | 519,492,273 | 449,634,870 | 895,693 | - | - | 104,440,748 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 125,648,984 | 125,648,984 | - | - |
Consumer Discretionary | 341,738,294 | 341,738,294 | - | - |
Consumer Staples | 114,614,715 | 114,614,715 | - | - |
Energy | 38,739,567 | 38,739,567 | - | - |
Financials | 73,459,741 | 73,459,741 | - | - |
Health Care | 245,033,619 | 245,033,619 | - | - |
Industrials | 152,652,730 | 152,652,730 | - | - |
Information Technology | 897,065,840 | 897,065,840 | - | - |
Materials | 29,807,225 | 29,807,225 | - | - |
Real Estate | 26,009,869 | 26,009,869 | - | - |
Money Market Funds | 104,440,748 | 104,440,748 | - | - |
Total Investments in Securities: | 2,149,211,332 | 2,149,211,332 | - | - |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 309,398 | 309,398 | - | - |
Total Assets | 309,398 | 309,398 | - | - |
Total Derivative Instruments: | 309,398 | 309,398 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 309,398 | 0 |
Total Equity Risk | 309,398 | 0 |
Total Value of Derivatives | 309,398 | 0 |
Statement of Assets and Liabilities | ||||
February 28, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $23,476,007) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,533,047,633) | $ | 2,044,770,584 | ||
Fidelity Central Funds (cost $104,440,748) | 104,440,748 | |||
Total Investment in Securities (cost $1,637,488,381) | $ | 2,149,211,332 | ||
Segregated cash with brokers for derivative instruments | 3,667,600 | |||
Cash | 1,329,607 | |||
Receivable for investments sold | 25,805,212 | |||
Receivable for fund shares sold | 1,470,649 | |||
Dividends receivable | 1,621,774 | |||
Distributions receivable from Fidelity Central Funds | 409,814 | |||
Total assets | 2,183,515,988 | |||
Liabilities | ||||
Payable for investments purchased | $ | 46,827,324 | ||
Payable for fund shares redeemed | 1,014,537 | |||
Accrued management fee | 692,554 | |||
Payable for daily variation margin on futures contracts | 180,728 | |||
Other payables and accrued expenses | 22,404 | |||
Collateral on securities loaned | 24,027,575 | |||
Total Liabilities | 72,765,122 | |||
Net Assets | $ | 2,110,750,866 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,631,851,272 | ||
Total accumulated earnings (loss) | 478,899,594 | |||
Net Assets | $ | 2,110,750,866 | ||
Net Asset Value , offering price and redemption price per share ($2,110,750,866 ÷ 86,517,884 shares) | $ | 24.40 |
Statement of Operations | ||||
Six months ended February 28, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 9,113,869 | ||
Interest | 24,535 | |||
Income from Fidelity Central Funds (including $1,958 from security lending) | 895,693 | |||
Total Income | 10,034,097 | |||
Expenses | ||||
Management fee | $ | 3,313,142 | ||
Independent trustees' fees and expenses | 2,938 | |||
Miscellaneous | 22,389 | |||
Total expenses before reductions | 3,338,469 | |||
Expense reductions | (692) | |||
Total expenses after reductions | 3,337,777 | |||
Net Investment income (loss) | 6,696,320 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 5,777,775 | |||
Futures contracts | (2,143,875) | |||
Total net realized gain (loss) | 3,633,900 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (28,029,047) | |||
Futures contracts | 689,589 | |||
Total change in net unrealized appreciation (depreciation) | (27,339,458) | |||
Net gain (loss) | (23,705,558) | |||
Net increase (decrease) in net assets resulting from operations | $ | (17,009,238) |
Statement of Changes in Net Assets | ||||
Six months ended February 28, 2023 (Unaudited) | Year ended August 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 6,696,320 | $ | 8,691,799 |
Net realized gain (loss) | 3,633,900 | (8,165,601) | ||
Change in net unrealized appreciation (depreciation) | (27,339,458) | (299,422,252) | ||
Net increase (decrease) in net assets resulting from operations | (17,009,238) | (298,896,054) | ||
Distributions to shareholders | (10,050,462) | (234,756,175) | ||
Share transactions | ||||
Proceeds from sales of shares | 650,294,507 | 431,325,162 | ||
Reinvestment of distributions | 8,894,596 | 220,826,073 | ||
Cost of shares redeemed | (147,010,650) | (277,612,906) | ||
Net increase (decrease) in net assets resulting from share transactions | 512,178,453 | 374,538,329 | ||
Total increase (decrease) in net assets | 485,118,753 | (159,113,900) | ||
Net Assets | ||||
Beginning of period | 1,625,632,113 | 1,784,746,013 | ||
End of period | $ | 2,110,750,866 | $ | 1,625,632,113 |
Other Information | ||||
Shares | ||||
Sold | 26,832,722 | 15,823,152 | ||
Issued in reinvestment of distributions | 388,750 | 7,278,381 | ||
Redeemed | (6,186,086) | (9,733,327) | ||
Net increase (decrease) | 21,035,386 | 13,368,206 | ||
Fidelity® Large Cap Growth Enhanced Index Fund |
Six months ended (Unaudited) February 28, 2023 | Years ended August 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 24.83 | $ | 34.25 | $ | 27.80 | $ | 20.24 | $ | 21.58 | $ | 17.61 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 | .15 | .14 | .16 | .21 | .23 | ||||||
Net realized and unrealized gain (loss) | (.38) | (5.05) | 7.63 | 8.08 | (.15) | 4.40 | ||||||
Total from investment operations | (.29) | (4.90) | 7.77 | 8.24 | .06 | 4.63 | ||||||
Distributions from net investment income | (.14) | (.14) | (.16) | (.18) | (.24) C | (.18) | ||||||
Distributions from net realized gain | - | (4.38) | (1.16) | (.51) | (1.16) C | (.48) | ||||||
Total distributions | (.14) | (4.52) | (1.32) | (.68) D | (1.40) | (.66) | ||||||
Net asset value, end of period | $ | 24.40 | $ | 24.83 | $ | 34.25 | $ | 27.80 | $ | 20.24 | $ | 21.58 |
Total Return E,F | (1.13)% | (16.70)% | 29.08% | 41.73% | 1.28% | 26.86% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .39% I | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .39% I | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .39% I | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | .79% I | .52% | .47% | .74% | 1.07% | 1.18% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,110,751 | $ | 1,625,632 | $ | 1,784,746 | $ | 1,417,537 | $ | 1,106,497 | $ | 1,181,986 |
Portfolio turnover rate J | 86% I | 101% | 84% | 69% | 85% | 100% |
Top Holdings (% of Fund's net assets) | ||
Berkshire Hathaway, Inc. Class B | 3.5 | |
JPMorgan Chase & Co. | 2.6 | |
Exxon Mobil Corp. | 2.4 | |
Johnson & Johnson | 2.1 | |
Chevron Corp. | 1.9 | |
Pfizer, Inc. | 1.7 | |
Meta Platforms, Inc. Class A | 1.6 | |
Cisco Systems, Inc. | 1.4 | |
Bank of America Corp. | 1.3 | |
Bristol-Myers Squibb Co. | 1.3 | |
19.8 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 21.3 | |
Health Care | 16.5 | |
Industrials | 11.8 | |
Information Technology | 9.5 | |
Energy | 8.2 | |
Consumer Staples | 8.1 | |
Consumer Discretionary | 7.5 | |
Communication Services | 6.0 | |
Utilities | 4.3 | |
Materials | 3.4 | |
Real Estate | 2.8 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 4.2% |
Common Stocks - 99.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.0% | |||
Diversified Telecommunication Services - 1.0% | |||
AT&T, Inc. | 1,546,823 | 29,250,423 | |
Verizon Communications, Inc. | 683,747 | 26,536,221 | |
55,786,644 | |||
Entertainment - 0.8% | |||
Activision Blizzard, Inc. | 145,955 | 11,129,069 | |
Liberty Media Corp. Liberty Formula One Class A (a) | 11,960 | 726,690 | |
Madison Square Garden Sports Corp. | 12,969 | 2,478,895 | |
Netflix, Inc. (a) | 13,647 | 4,396,108 | |
Spotify Technology SA (a) | 54,140 | 6,296,482 | |
The Walt Disney Co. (a) | 227,488 | 22,660,080 | |
47,687,324 | |||
Interactive Media & Services - 2.6% | |||
Alphabet, Inc.: | |||
Class A (a) | 235,560 | 21,214,534 | |
Class C (a) | 370,720 | 33,476,016 | |
Meta Platforms, Inc. Class A (a) | 503,694 | 88,116,228 | |
142,806,778 | |||
Media - 1.6% | |||
Comcast Corp. Class A | 1,606,114 | 59,699,257 | |
Liberty Media Corp. Liberty SiriusXM: | |||
Series A (a)(b) | 281,961 | 9,132,717 | |
Series C (a) | 368,109 | 11,860,472 | |
News Corp. Class B | 165,911 | 2,863,624 | |
Paramount Global Class B (b) | 156,159 | 3,344,926 | |
The New York Times Co. Class A | 15,703 | 604,566 | |
87,505,562 | |||
TOTAL COMMUNICATION SERVICES | 333,786,308 | ||
CONSUMER DISCRETIONARY - 7.5% | |||
Auto Components - 0.0% | |||
Visteon Corp. (a) | 6,321 | 1,055,860 | |
Automobiles - 0.4% | |||
General Motors Co. | 132,674 | 5,139,791 | |
Harley-Davidson, Inc. | 341,823 | 16,253,684 | |
21,393,475 | |||
Distributors - 0.3% | |||
Genuine Parts Co. | 58,534 | 10,352,323 | |
LKQ Corp. | 115,095 | 6,593,793 | |
16,946,116 | |||
Diversified Consumer Services - 0.5% | |||
Service Corp. International | 415,019 | 28,026,233 | |
Hotels, Restaurants & Leisure - 3.1% | |||
Airbnb, Inc. Class A (a) | 224,673 | 27,697,687 | |
Booking Holdings, Inc. (a) | 7,631 | 19,260,644 | |
Caesars Entertainment, Inc. (a) | 50,919 | 2,584,648 | |
Expedia, Inc. (a) | 27,966 | 3,047,455 | |
Hyatt Hotels Corp. Class A (a) | 172,851 | 20,092,200 | |
McDonald's Corp. | 171,962 | 45,382,491 | |
Starbucks Corp. (b) | 411,607 | 42,020,959 | |
Yum! Brands, Inc. | 109,204 | 13,886,381 | |
173,972,465 | |||
Household Durables - 0.4% | |||
NVR, Inc. (a) | 1,580 | 8,174,320 | |
Toll Brothers, Inc. | 236,627 | 14,183,422 | |
22,357,742 | |||
Internet & Direct Marketing Retail - 0.5% | |||
eBay, Inc. | 559,436 | 25,678,112 | |
Leisure Products - 0.1% | |||
Brunswick Corp. (b) | 33,641 | 2,940,896 | |
Multiline Retail - 0.1% | |||
Macy's, Inc. | 359,701 | 7,359,482 | |
Specialty Retail - 1.6% | |||
AutoZone, Inc. (a) | 10,027 | 24,932,537 | |
Bath & Body Works, Inc. | 22,389 | 915,038 | |
O'Reilly Automotive, Inc. (a) | 14,614 | 12,131,081 | |
Ross Stores, Inc. | 93,630 | 10,349,860 | |
Signet Jewelers Ltd. | 19,620 | 1,405,184 | |
The Home Depot, Inc. | 70,109 | 20,790,123 | |
TJX Companies, Inc. | 171,803 | 13,160,110 | |
Ulta Beauty, Inc. (a) | 1,595 | 827,486 | |
Williams-Sonoma, Inc. | 25,445 | 3,178,589 | |
87,690,008 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
NIKE, Inc. Class B | 223,564 | 26,557,168 | |
TOTAL CONSUMER DISCRETIONARY | 413,977,557 | ||
CONSUMER STAPLES - 8.1% | |||
Beverages - 0.9% | |||
Keurig Dr. Pepper, Inc. | 135,458 | 4,680,074 | |
Monster Beverage Corp. (a) | 881 | 89,651 | |
PepsiCo, Inc. | 13,942 | 2,419,355 | |
The Coca-Cola Co. | 753,114 | 44,817,814 | |
52,006,894 | |||
Food & Staples Retailing - 0.9% | |||
Kroger Co. | 322,641 | 13,918,733 | |
Sprouts Farmers Market LLC (a) | 95,142 | 2,881,851 | |
Walmart, Inc. | 226,744 | 32,227,125 | |
49,027,709 | |||
Food Products - 3.4% | |||
Archer Daniels Midland Co. | 501,494 | 39,918,922 | |
Bunge Ltd. | 50,177 | 4,791,904 | |
Cal-Maine Foods, Inc. (b) | 36,366 | 2,065,589 | |
Campbell Soup Co. | 30,514 | 1,602,595 | |
Conagra Brands, Inc. | 847,113 | 30,843,384 | |
Darling Ingredients, Inc. (a) | 46,966 | 2,971,539 | |
Lamb Weston Holdings, Inc. | 22,431 | 2,257,456 | |
Mondelez International, Inc. | 820,118 | 53,455,291 | |
The Hershey Co. | 18,818 | 4,484,706 | |
The J.M. Smucker Co. (b) | 83,684 | 12,376,027 | |
The Kraft Heinz Co. | 720,456 | 28,054,557 | |
Tyson Foods, Inc. Class A | 43,858 | 2,598,148 | |
185,420,118 | |||
Household Products - 1.4% | |||
Church & Dwight Co., Inc. | 43,372 | 3,633,706 | |
Colgate-Palmolive Co. | 55,892 | 4,096,884 | |
Procter & Gamble Co. | 504,432 | 69,389,666 | |
77,120,256 | |||
Personal Products - 0.3% | |||
Estee Lauder Companies, Inc. Class A | 68,156 | 16,565,316 | |
Tobacco - 1.2% | |||
Altria Group, Inc. | 765,164 | 35,526,565 | |
Philip Morris International, Inc. | 314,265 | 30,577,985 | |
66,104,550 | |||
TOTAL CONSUMER STAPLES | 446,244,843 | ||
ENERGY - 8.2% | |||
Energy Equipment & Services - 0.7% | |||
Halliburton Co. | 65,284 | 2,365,239 | |
Helmerich & Payne, Inc. | 42,140 | 1,773,251 | |
NOV, Inc. | 103,051 | 2,254,756 | |
Schlumberger Ltd. | 631,439 | 33,598,869 | |
39,992,115 | |||
Oil, Gas & Consumable Fuels - 7.5% | |||
Cheniere Energy, Inc. | 38,803 | 6,105,264 | |
Chesapeake Energy Corp. | 91,690 | 7,409,469 | |
Chevron Corp. | 641,088 | 103,067,718 | |
ConocoPhillips Co. | 113,316 | 11,711,209 | |
Coterra Energy, Inc. | 225,987 | 5,642,895 | |
Diamondback Energy, Inc. | 118,522 | 16,661,823 | |
DT Midstream, Inc. | 136,980 | 6,876,396 | |
EOG Resources, Inc. | 109,023 | 12,321,779 | |
EQT Corp. | 197,224 | 6,543,892 | |
Exxon Mobil Corp. | 1,204,395 | 132,375,054 | |
Kinder Morgan, Inc. | 376,621 | 6,425,154 | |
Marathon Oil Corp. | 732,805 | 18,430,046 | |
Marathon Petroleum Corp. | 305,114 | 37,712,090 | |
Murphy Oil Corp. | 167,083 | 6,519,579 | |
Occidental Petroleum Corp. | 118,980 | 6,967,469 | |
Ovintiv, Inc. | 45,764 | 1,957,326 | |
Phillips 66 Co. | 227,023 | 23,283,479 | |
Pioneer Natural Resources Co. | 17,113 | 3,429,616 | |
Southwestern Energy Co. (a) | 401,688 | 2,128,946 | |
Valero Energy Corp. | 7,516 | 990,083 | |
Vitesse Energy, Inc. (b) | 33,104 | 575,679 | |
417,134,966 | |||
TOTAL ENERGY | 457,127,081 | ||
FINANCIALS - 21.3% | |||
Banks - 7.3% | |||
Bank of America Corp. | 2,086,329 | 71,561,085 | |
Citigroup, Inc. | 411,881 | 20,878,248 | |
Citizens Financial Group, Inc. | 361,324 | 15,088,890 | |
Comerica, Inc. | 86,316 | 6,050,752 | |
East West Bancorp, Inc. | 338,145 | 25,770,030 | |
Eastern Bankshares, Inc. | 194,624 | 3,051,704 | |
Fifth Third Bancorp | 168,446 | 6,114,590 | |
First Hawaiian, Inc. | 64,748 | 1,770,858 | |
FNB Corp., Pennsylvania | 314,145 | 4,482,849 | |
JPMorgan Chase & Co. | 1,000,070 | 143,360,035 | |
Old National Bancorp, Indiana | 143,504 | 2,535,716 | |
PNC Financial Services Group, Inc. | 51,462 | 8,126,879 | |
Regions Financial Corp. | 131,900 | 3,075,908 | |
Signature Bank | 47,775 | 5,496,514 | |
Synovus Financial Corp. | 333,289 | 13,934,813 | |
U.S. Bancorp | 429,904 | 20,519,318 | |
Wells Fargo & Co. | 976,079 | 45,651,215 | |
Wintrust Financial Corp. | 74,962 | 6,906,249 | |
404,375,653 | |||
Capital Markets - 4.8% | |||
Affiliated Managers Group, Inc. | 4,984 | 794,499 | |
Bank of New York Mellon Corp. | 772,437 | 39,301,595 | |
BlackRock, Inc. Class A | 4,136 | 2,851,482 | |
Cboe Global Markets, Inc. | 105,595 | 13,322,921 | |
Charles Schwab Corp. | 73,342 | 5,714,809 | |
CME Group, Inc. | 172,560 | 31,985,722 | |
FactSet Research Systems, Inc. | 5,787 | 2,399,001 | |
Goldman Sachs Group, Inc. | 170,126 | 59,824,808 | |
Interactive Brokers Group, Inc. | 36,079 | 3,106,763 | |
Intercontinental Exchange, Inc. | 134,748 | 13,717,346 | |
Jefferies Financial Group, Inc. | 281,276 | 10,629,420 | |
LPL Financial | 60,304 | 15,049,466 | |
Morgan Stanley | 73,176 | 7,061,484 | |
NASDAQ, Inc. | 96,637 | 5,417,470 | |
Raymond James Financial, Inc. | 30,185 | 3,273,865 | |
Robinhood Markets, Inc. (a)(b) | 572,400 | 5,764,068 | |
S&P Global, Inc. | 56,271 | 19,199,665 | |
State Street Corp. | 96,363 | 8,545,471 | |
Stifel Financial Corp. (b) | 72,202 | 4,825,260 | |
Tradeweb Markets, Inc. Class A | 131,507 | 9,322,531 | |
Virtu Financial, Inc. Class A | 98,235 | 1,805,559 | |
263,913,205 | |||
Consumer Finance - 1.7% | |||
American Express Co. | 262,066 | 45,596,863 | |
Capital One Financial Corp. | 174,041 | 18,984,392 | |
Discover Financial Services | 183,635 | 20,567,120 | |
Synchrony Financial | 316,785 | 11,312,392 | |
96,460,767 | |||
Diversified Financial Services - 3.5% | |||
Berkshire Hathaway, Inc. Class B (a) | 627,008 | 191,350,292 | |
Corebridge Financial, Inc. | 99,433 | 2,010,535 | |
193,360,827 | |||
Insurance - 4.0% | |||
American Financial Group, Inc. | 5,172 | 693,617 | |
American International Group, Inc. | 400,415 | 24,469,361 | |
Axis Capital Holdings Ltd. | 20,659 | 1,254,414 | |
Brown & Brown, Inc. | 159,000 | 8,915,130 | |
Chubb Ltd. | 104,265 | 22,002,000 | |
Cincinnati Financial Corp. | 40,168 | 4,848,278 | |
Everest Re Group Ltd. | 61,999 | 23,805,756 | |
F&G Annuities & Life, Inc. | 23,063 | 469,793 | |
Fidelity National Financial, Inc. | 219,704 | 8,757,401 | |
Globe Life, Inc. | 47,289 | 5,754,598 | |
Hartford Financial Services Group, Inc. | 90,845 | 7,111,347 | |
Loews Corp. | 387,306 | 23,660,524 | |
MetLife, Inc. | 150,456 | 10,792,209 | |
Progressive Corp. | 170,742 | 24,504,892 | |
Prudential Financial, Inc. | 108,976 | 10,897,600 | |
Reinsurance Group of America, Inc. | 12,413 | 1,793,306 | |
The Travelers Companies, Inc. | 109,598 | 20,288,782 | |
W.R. Berkley Corp. | 342,028 | 22,638,833 | |
222,657,841 | |||
Thrifts & Mortgage Finance - 0.0% | |||
WSFS Financial Corp. | 6,983 | 348,522 | |
TOTAL FINANCIALS | 1,181,116,815 | ||
HEALTH CARE - 16.5% | |||
Biotechnology - 1.8% | |||
Biogen, Inc. (a) | 80,166 | 21,633,597 | |
Gilead Sciences, Inc. | 557,622 | 44,905,300 | |
Incyte Corp. (a) | 36,723 | 2,826,937 | |
Mirati Therapeutics, Inc. (a)(b) | 82,813 | 3,796,148 | |
Sarepta Therapeutics, Inc. (a) | 42,923 | 5,242,186 | |
Ultragenyx Pharmaceutical, Inc. (a) | 152,751 | 6,795,892 | |
United Therapeutics Corp. (a) | 62,005 | 15,255,710 | |
Vir Biotechnology, Inc. (a) | 45,820 | 1,044,696 | |
101,500,466 | |||
Health Care Equipment & Supplies - 2.9% | |||
Abbott Laboratories | 427,334 | 43,468,414 | |
Baxter International, Inc. | 118,169 | 4,720,852 | |
Becton, Dickinson & Co. | 64,542 | 15,138,326 | |
Boston Scientific Corp. (a) | 171,823 | 8,027,571 | |
Dentsply Sirona, Inc. | 339,286 | 12,916,618 | |
Integra LifeSciences Holdings Corp. (a) | 56,424 | 3,138,303 | |
Intuitive Surgical, Inc. (a) | 13,691 | 3,140,578 | |
Lantheus Holdings, Inc. (a) | 47,655 | 3,524,564 | |
Medtronic PLC | 332,851 | 27,560,063 | |
QuidelOrtho Corp. (a) | 15,747 | 1,369,044 | |
Zimmer Biomet Holdings, Inc. | 287,636 | 35,629,471 | |
158,633,804 | |||
Health Care Providers & Services - 3.7% | |||
AmerisourceBergen Corp. | 23,322 | 3,627,970 | |
Centene Corp. (a) | 211,050 | 14,435,820 | |
Cigna Group | 110,892 | 32,391,553 | |
CVS Health Corp. | 589,442 | 49,241,985 | |
Elevance Health, Inc. | 108,467 | 50,943,696 | |
McKesson Corp. | 37,922 | 13,265,495 | |
Quest Diagnostics, Inc. | 25,456 | 3,522,092 | |
UnitedHealth Group, Inc. | 82,733 | 39,375,944 | |
206,804,555 | |||
Life Sciences Tools & Services - 1.7% | |||
Bio-Rad Laboratories, Inc. Class A (a) | 55,214 | 26,383,458 | |
Danaher Corp. | 138,020 | 34,164,091 | |
Syneos Health, Inc. (a) | 148,136 | 5,958,030 | |
Thermo Fisher Scientific, Inc. | 52,539 | 28,463,529 | |
94,969,108 | |||
Pharmaceuticals - 6.4% | |||
Bristol-Myers Squibb Co. | 1,026,947 | 70,818,265 | |
Johnson & Johnson | 767,195 | 117,580,306 | |
Merck & Co., Inc. | 657,955 | 69,901,139 | |
Nektar Therapeutics (a) | 317,038 | 437,512 | |
Pfizer, Inc. | 2,353,382 | 95,476,708 | |
354,213,930 | |||
TOTAL HEALTH CARE | 916,121,863 | ||
INDUSTRIALS - 11.8% | |||
Aerospace & Defense - 3.4% | |||
Hexcel Corp. | 12,849 | 937,335 | |
Huntington Ingalls Industries, Inc. | 82,931 | 17,846,751 | |
L3Harris Technologies, Inc. | 16,366 | 3,456,336 | |
Lockheed Martin Corp. | 63,653 | 30,188,072 | |
Moog, Inc. Class A | 115,009 | 11,342,188 | |
Northrop Grumman Corp. | 64,063 | 29,732,279 | |
Parsons Corp. (a) | 324,200 | 14,598,726 | |
Raytheon Technologies Corp. | 422,225 | 41,416,050 | |
Textron, Inc. | 443,915 | 32,197,155 | |
The Boeing Co. (a) | 24,780 | 4,994,409 | |
186,709,301 | |||
Air Freight & Logistics - 0.2% | |||
FedEx Corp. | 47,412 | 9,635,067 | |
GXO Logistics, Inc. (a) | 70,894 | 3,514,216 | |
13,149,283 | |||
Building Products - 1.2% | |||
Allegion PLC | 41,943 | 4,727,396 | |
Carlisle Companies, Inc. | 7,385 | 1,906,955 | |
Carrier Global Corp. | 262,973 | 11,841,674 | |
Johnson Controls International PLC | 645,265 | 40,471,021 | |
Trane Technologies PLC | 49,914 | 9,232,593 | |
68,179,639 | |||
Commercial Services & Supplies - 0.9% | |||
ABM Industries, Inc. | 116,662 | 5,647,607 | |
Cintas Corp. | 24,059 | 10,549,150 | |
Clean Harbors, Inc. (a) | 55,250 | 7,296,868 | |
Republic Services, Inc. | 211,999 | 27,333,031 | |
50,826,656 | |||
Construction & Engineering - 0.4% | |||
AECOM | 163,738 | 14,140,414 | |
EMCOR Group, Inc. | 42,408 | 7,091,466 | |
Fluor Corp. (a) | 28,900 | 1,059,763 | |
22,291,643 | |||
Electrical Equipment - 1.0% | |||
Acuity Brands, Inc. | 68,970 | 13,377,421 | |
AMETEK, Inc. | 69,865 | 9,890,089 | |
Atkore, Inc. (a) | 7,714 | 1,126,398 | |
Eaton Corp. PLC | 79,588 | 13,922,329 | |
Emerson Electric Co. | 147,482 | 12,198,236 | |
nVent Electric PLC | 109,151 | 5,003,482 | |
55,517,955 | |||
Industrial Conglomerates - 0.6% | |||
3M Co. | 226,121 | 24,362,277 | |
General Electric Co. | 110,944 | 9,398,066 | |
33,760,343 | |||
Machinery - 2.6% | |||
AGCO Corp. | 228,072 | 32,114,818 | |
Allison Transmission Holdings, Inc. | 150,677 | 7,157,158 | |
Caterpillar, Inc. | 8,855 | 2,121,215 | |
Cummins, Inc. | 49,398 | 12,007,666 | |
Deere & Co. | 66,238 | 27,769,619 | |
Donaldson Co., Inc. | 56,148 | 3,551,361 | |
Fortive Corp. | 529,907 | 35,323,601 | |
Ingersoll Rand, Inc. | 40,060 | 2,326,284 | |
Otis Worldwide Corp. | 13,290 | 1,124,600 | |
PACCAR, Inc. | 86,332 | 6,233,170 | |
Parker Hannifin Corp. | 31,388 | 11,043,868 | |
140,773,360 | |||
Professional Services - 0.3% | |||
Booz Allen Hamilton Holding Corp. Class A | 6,217 | 588,936 | |
Dun & Bradstreet Holdings, Inc. | 112,971 | 1,356,782 | |
Korn Ferry | 69,402 | 3,878,878 | |
Leidos Holdings, Inc. | 101,715 | 9,873,475 | |
15,698,071 | |||
Road & Rail - 0.7% | |||
CSX Corp. | 859,477 | 26,205,454 | |
Norfolk Southern Corp. | 44,189 | 9,934,571 | |
RXO, Inc. (a) | 155,097 | 3,190,345 | |
39,330,370 | |||
Trading Companies & Distributors - 0.5% | |||
Applied Industrial Technologies, Inc. | 18,682 | 2,668,911 | |
Core & Main, Inc. (a)(b) | 20,972 | 488,857 | |
MSC Industrial Direct Co., Inc. Class A | 52,913 | 4,472,207 | |
United Rentals, Inc. | 19,411 | 9,094,636 | |
Univar Solutions, Inc. (a) | 253,175 | 8,797,831 | |
25,522,442 | |||
TOTAL INDUSTRIALS | 651,759,063 | ||
INFORMATION TECHNOLOGY - 9.5% | |||
Communications Equipment - 1.9% | |||
Arista Networks, Inc. (a) | 53,363 | 7,401,448 | |
Cisco Systems, Inc. | 1,585,469 | 76,768,409 | |
F5, Inc. (a) | 87,906 | 12,568,800 | |
Juniper Networks, Inc. | 308,208 | 9,486,642 | |
106,225,299 | |||
Electronic Equipment & Components - 0.2% | |||
Arrow Electronics, Inc. (a) | 10,279 | 1,212,819 | |
Avnet, Inc. | 46,638 | 2,085,185 | |
IPG Photonics Corp. (a) | 1,930 | 237,853 | |
Vontier Corp. | 168,324 | 4,405,039 | |
7,940,896 | |||
IT Services - 1.2% | |||
Amdocs Ltd. | 281,917 | 25,826,416 | |
Fidelity National Information Services, Inc. | 56,660 | 3,590,544 | |
Fiserv, Inc. (a) | 32,598 | 3,751,704 | |
Gartner, Inc. (a) | 6,197 | 2,031,439 | |
Global Payments, Inc. | 29,811 | 3,344,794 | |
GoDaddy, Inc. (a) | 10,854 | 821,756 | |
Kyndryl Holdings, Inc. (a) | 132,451 | 2,078,156 | |
PayPal Holdings, Inc. (a) | 284,835 | 20,963,856 | |
Twilio, Inc. Class A (a) | 32,542 | 2,187,148 | |
Wix.com Ltd. (a) | 26,778 | 2,424,212 | |
67,020,025 | |||
Semiconductors & Semiconductor Equipment - 3.1% | |||
Advanced Micro Devices, Inc. (a) | 178,834 | 14,052,776 | |
Analog Devices, Inc. | 17,385 | 3,189,626 | |
Broadcom, Inc. | 48,514 | 28,831,385 | |
Cirrus Logic, Inc. (a) | 34,372 | 3,531,723 | |
Impinj, Inc. (a) | 9,078 | 1,203,924 | |
Intel Corp. | 2,316,051 | 57,739,151 | |
Qorvo, Inc. (a) | 306,167 | 30,889,189 | |
Qualcomm, Inc. | 226,598 | 27,991,651 | |
Semtech Corp. (a) | 103,105 | 3,176,665 | |
Skyworks Solutions, Inc. | 23,130 | 2,580,614 | |
173,186,704 | |||
Software - 2.5% | |||
Adobe, Inc. (a) | 80,216 | 25,985,973 | |
Box, Inc. Class A (a) | 389,337 | 12,984,389 | |
Dropbox, Inc. Class A (a) | 1,100,256 | 22,445,222 | |
Microsoft Corp. | 11,239 | 2,803,231 | |
Palo Alto Networks, Inc. (a) | 32,365 | 6,096,595 | |
Salesforce.com, Inc. (a) | 229,455 | 37,541,133 | |
SolarWinds, Inc. (a) | 84,017 | 715,825 | |
Splunk, Inc. (a) | 1,628 | 166,870 | |
Synopsys, Inc. (a) | 31,337 | 11,399,147 | |
Teradata Corp. (a) | 390,672 | 15,923,791 | |
Workday, Inc. Class A (a) | 23,103 | 4,284,913 | |
140,347,089 | |||
Technology Hardware, Storage & Peripherals - 0.6% | |||
Dell Technologies, Inc. | 328,069 | 13,332,724 | |
Hewlett Packard Enterprise Co. | 175,595 | 2,741,038 | |
NetApp, Inc. | 154,309 | 9,960,646 | |
Pure Storage, Inc. Class A (a) | 186,816 | 5,331,729 | |
31,366,137 | |||
TOTAL INFORMATION TECHNOLOGY | 526,086,150 | ||
MATERIALS - 3.4% | |||
Chemicals - 1.3% | |||
Ashland, Inc. | 40,590 | 4,131,250 | |
Avient Corp. | 8,628 | 376,440 | |
CF Industries Holdings, Inc. | 155,404 | 13,347,650 | |
Corteva, Inc. | 34,233 | 2,132,374 | |
Dow, Inc. | 2,741 | 156,785 | |
DuPont de Nemours, Inc. | 156,350 | 11,418,241 | |
Eastman Chemical Co. | 26,869 | 2,289,239 | |
Linde PLC | 33,734 | 11,751,914 | |
NewMarket Corp. | 3,574 | 1,227,669 | |
Olin Corp. | 160,311 | 9,257,960 | |
Westlake Corp. | 144,762 | 17,246,945 | |
73,336,467 | |||
Construction Materials - 0.4% | |||
Eagle Materials, Inc. | 42,466 | 5,958,829 | |
Martin Marietta Materials, Inc. | 6,750 | 2,429,123 | |
Vulcan Materials Co. | 55,481 | 10,037,068 | |
18,425,020 | |||
Containers & Packaging - 0.5% | |||
Graphic Packaging Holding Co. | 135,139 | 3,216,308 | |
Sealed Air Corp. | 55,298 | 2,688,589 | |
WestRock Co. | 706,508 | 22,184,351 | |
28,089,248 | |||
Metals & Mining - 1.2% | |||
Commercial Metals Co. | 21,442 | 1,109,624 | |
Newmont Corp. | 276,772 | 12,070,027 | |
Nucor Corp. | 254,721 | 42,650,484 | |
Reliance Steel & Aluminum Co. | 38,698 | 9,590,912 | |
United States Steel Corp. (b) | 73,739 | 2,258,626 | |
67,679,673 | |||
TOTAL MATERIALS | 187,530,408 | ||
REAL ESTATE - 2.8% | |||
Equity Real Estate Investment Trusts (REITs) - 2.8% | |||
American Homes 4 Rent Class A | 461,314 | 14,309,960 | |
Apartment Income (REIT) Corp. | 80,418 | 3,039,800 | |
AvalonBay Communities, Inc. | 31,112 | 5,367,442 | |
Crown Castle International Corp. | 98,835 | 12,922,676 | |
Equity Residential (SBI) | 204,732 | 12,799,845 | |
Highwoods Properties, Inc. (SBI) | 115,026 | 3,048,189 | |
Host Hotels & Resorts, Inc. | 164,047 | 2,755,990 | |
Hudson Pacific Properties, Inc. | 107,855 | 995,502 | |
Kilroy Realty Corp. | 37,956 | 1,367,175 | |
National Retail Properties, Inc. | 219,930 | 9,967,228 | |
National Storage Affiliates Trust | 107,277 | 4,537,817 | |
Park Hotels & Resorts, Inc. | 259,681 | 3,570,614 | |
Prologis (REIT), Inc. | 35,989 | 4,441,043 | |
Public Storage | 72,169 | 21,574,923 | |
Realty Income Corp. | 402,983 | 25,770,763 | |
Regency Centers Corp. | 7,109 | 447,156 | |
Rexford Industrial Realty, Inc. | 68,302 | 4,129,539 | |
SBA Communications Corp. Class A | 21,247 | 5,510,409 | |
Spirit Realty Capital, Inc. | 35,520 | 1,462,714 | |
Stag Industrial, Inc. | 65,010 | 2,186,936 | |
Terreno Realty Corp. | 14,850 | 923,819 | |
UDR, Inc. | 113,829 | 4,876,434 | |
Ventas, Inc. | 216,969 | 10,555,542 | |
156,561,516 | |||
UTILITIES - 4.3% | |||
Electric Utilities - 2.4% | |||
Allete, Inc. (b) | 17,898 | 1,095,179 | |
Duke Energy Corp. | 437,987 | 41,284,655 | |
FirstEnergy Corp. | 135,503 | 5,357,789 | |
Hawaiian Electric Industries, Inc. | 372,338 | 15,061,072 | |
NextEra Energy, Inc. | 526,838 | 37,421,303 | |
Xcel Energy, Inc. | 498,506 | 32,188,532 | |
132,408,530 | |||
Gas Utilities - 0.0% | |||
National Fuel Gas Co. | 19,978 | 1,144,340 | |
UGI Corp. | 6,570 | 244,601 | |
1,388,941 | |||
Multi-Utilities - 1.9% | |||
Consolidated Edison, Inc. | 358,128 | 31,998,737 | |
NiSource, Inc. | 585,825 | 16,069,180 | |
Public Service Enterprise Group, Inc. | 285,621 | 17,260,077 | |
Sempra Energy | 63,872 | 9,578,245 | |
WEC Energy Group, Inc. | 328,941 | 29,163,909 | |
104,070,148 | |||
TOTAL UTILITIES | 237,867,619 | ||
TOTAL COMMON STOCKS (Cost $4,788,958,149) | 5,508,179,223 | ||
Money Market Funds - 1.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.63% (c) | 22,917,409 | 22,921,992 | |
Fidelity Securities Lending Cash Central Fund 4.63% (c)(d) | 63,861,435 | 63,867,821 | |
TOTAL MONEY MARKET FUNDS (Cost $86,789,813) | 86,789,813 | ||
TOTAL INVESTMENT IN SECURITIES - 101.0% (Cost $4,875,747,962) | 5,594,969,036 |
NET OTHER ASSETS (LIABILITIES) - (1.0)% | (54,657,245) |
NET ASSETS - 100.0% | 5,540,311,791 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 114 | Mar 2023 | 22,660,350 | 517,094 | 517,094 |
The notional amount of futures purchased as a percentage of Net Assets is 0.4% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.63% | 8,770,543 | 239,764,096 | 225,612,647 | 619,218 | - | - | 22,921,992 | 0.1% |
Fidelity Securities Lending Cash Central Fund 4.63% | 51,168,351 | 294,731,405 | 282,031,935 | 24,890 | - | - | 63,867,821 | 0.2% |
Total | 59,938,894 | 534,495,501 | 507,644,582 | 644,108 | - | - | 86,789,813 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 333,786,308 | 333,786,308 | - | - |
Consumer Discretionary | 413,977,557 | 413,977,557 | - | - |
Consumer Staples | 446,244,843 | 446,244,843 | - | - |
Energy | 457,127,081 | 457,127,081 | - | - |
Financials | 1,181,116,815 | 1,181,116,815 | - | - |
Health Care | 916,121,863 | 916,121,863 | - | - |
Industrials | 651,759,063 | 651,759,063 | - | - |
Information Technology | 526,086,150 | 526,086,150 | - | - |
Materials | 187,530,408 | 187,530,408 | - | - |
Real Estate | 156,561,516 | 156,561,516 | - | - |
Utilities | 237,867,619 | 237,867,619 | - | - |
Money Market Funds | 86,789,813 | 86,789,813 | - | - |
Total Investments in Securities: | 5,594,969,036 | 5,594,969,036 | - | - |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 517,094 | 517,094 | - | - |
Total Assets | 517,094 | 517,094 | - | - |
Total Derivative Instruments: | 517,094 | 517,094 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 517,094 | 0 |
Total Equity Risk | 517,094 | 0 |
Total Value of Derivatives | 517,094 | 0 |
Statement of Assets and Liabilities | ||||
February 28, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $62,454,277) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $4,788,958,149) | $ | 5,508,179,223 | ||
Fidelity Central Funds (cost $86,789,813) | 86,789,813 | |||
Total Investment in Securities (cost $4,875,747,962) | $ | 5,594,969,036 | ||
Segregated cash with brokers for derivative instruments | 1,250,800 | |||
Receivable for investments sold | 52,375,001 | |||
Receivable for fund shares sold | 2,535,101 | |||
Dividends receivable | 10,966,666 | |||
Distributions receivable from Fidelity Central Funds | 107,732 | |||
Total assets | 5,662,204,336 | |||
Liabilities | ||||
Payable for investments purchased | $ | 54,179,188 | ||
Payable for fund shares redeemed | 1,931,036 | |||
Accrued management fee | 1,846,287 | |||
Payable for daily variation margin on futures contracts | 71,214 | |||
Collateral on securities loaned | 63,864,820 | |||
Total Liabilities | 121,892,545 | |||
Net Assets | $ | 5,540,311,791 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 4,789,013,274 | ||
Total accumulated earnings (loss) | 751,298,517 | |||
Net Assets | $ | 5,540,311,791 | ||
Net Asset Value , offering price and redemption price per share ($5,540,311,791 ÷ 383,514,881 shares) | $ | 14.45 |
Statement of Operations | ||||
Six months ended February 28, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 61,630,631 | ||
Interest | 30,985 | |||
Income from Fidelity Central Funds (including $24,890 from security lending) | 644,108 | |||
Total Income | 62,305,724 | |||
Expenses | ||||
Management fee | $ | 10,979,018 | ||
Independent trustees' fees and expenses | 10,273 | |||
Interest | 24,271 | |||
Total expenses before reductions | 11,013,562 | |||
Expense reductions | (752) | |||
Total expenses after reductions | 11,012,810 | |||
Net Investment income (loss) | 51,292,914 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 42,663,457 | |||
Futures contracts | (529,158) | |||
Total net realized gain (loss) | 42,134,299 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 125,783,790 | |||
Futures contracts | 489,991 | |||
Total change in net unrealized appreciation (depreciation) | 126,273,781 | |||
Net gain (loss) | 168,408,080 | |||
Net increase (decrease) in net assets resulting from operations | $ | 219,700,994 |
Statement of Changes in Net Assets | ||||
Six months ended February 28, 2023 (Unaudited) | Year ended August 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 51,292,914 | $ | 109,310,484 |
Net realized gain (loss) | 42,134,299 | 269,166,406 | ||
Change in net unrealized appreciation (depreciation) | 126,273,781 | (702,930,899) | ||
Net increase (decrease) in net assets resulting from operations | 219,700,994 | (324,454,009) | ||
Distributions to shareholders | (257,200,574) | (697,082,541) | ||
Share transactions | ||||
Proceeds from sales of shares | 294,420,071 | 1,055,115,905 | ||
Reinvestment of distributions | 243,302,994 | 669,849,842 | ||
Cost of shares redeemed | (651,303,916) | (1,199,545,360) | ||
Net increase (decrease) in net assets resulting from share transactions | (113,580,851) | 525,420,387 | ||
Total increase (decrease) in net assets | (151,080,431) | (496,116,163) | ||
Net Assets | ||||
Beginning of period | 5,691,392,222 | 6,187,508,385 | ||
End of period | $ | 5,540,311,791 | $ | 5,691,392,222 |
Other Information | ||||
Shares | ||||
Sold | 20,571,691 | 67,688,693 | ||
Issued in reinvestment of distributions | 16,907,783 | 42,939,093 | ||
Redeemed | (45,158,664) | (77,436,714) | ||
Net increase (decrease) | (7,679,190) | 33,191,072 | ||
Fidelity® Large Cap Value Enhanced Index Fund |
Six months ended (Unaudited) February 28, 2023 | Years ended August 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.55 | $ | 17.28 | $ | 12.63 | $ | 12.81 | $ | 13.81 | $ | 12.50 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .13 | .28 | .25 | .28 | .30 | .30 | ||||||
Net realized and unrealized gain (loss) | .44 | (1.04) | 4.63 | - C | (.46) | 1.57 | ||||||
Total from investment operations | .57 | (.76) | 4.88 | .28 | (.16) | 1.87 | ||||||
Distributions from net investment income | (.22) | (.33) D | (.23) | (.29) | (.31) | (.22) | ||||||
Distributions from net realized gain | (.45) | (1.64) D | - | (.17) | (.54) | (.34) | ||||||
Total distributions | (.67) | (1.97) | (.23) | (.46) | (.84) E | (.56) | ||||||
Net asset value, end of period | $ | 14.45 | $ | 14.55 | $ | 17.28 | $ | 12.63 | $ | 12.81 | $ | 13.81 |
Total Return F,G | 3.91% | (5.18)% | 39.12% | 1.95% | (.77)% | 15.20% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | 1.82% J | 1.76% | 1.65% | 2.21% | 2.37% | 2.27% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 5,540,312 | $ | 5,691,392 | $ | 6,187,508 | $ | 3,887,139 | $ | 3,757,353 | $ | 3,925,278 |
Portfolio turnover rate K | 75% J | 112% | 75% | 81% | 94% | 99% |
Top Holdings (% of Fund's net assets) | ||
Apple, Inc. | 6.1 | |
Microsoft Corp. | 5.5 | |
Berkshire Hathaway, Inc. Class B | 2.2 | |
Amazon.com, Inc. | 2.1 | |
UnitedHealth Group, Inc. | 1.8 | |
Alphabet, Inc. Class C | 1.8 | |
Meta Platforms, Inc. Class A | 1.7 | |
Alphabet, Inc. Class A | 1.6 | |
Johnson & Johnson | 1.6 | |
JPMorgan Chase & Co. | 1.5 | |
25.9 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 26.8 | |
Health Care | 13.9 | |
Consumer Discretionary | 12.4 | |
Financials | 12.0 | |
Industrials | 10.3 | |
Consumer Staples | 6.8 | |
Communication Services | 6.8 | |
Energy | 4.6 | |
Materials | 2.6 | |
Utilities | 1.8 | |
Real Estate | 1.4 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 2.1% |
Common Stocks - 99.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.8% | |||
Diversified Telecommunication Services - 0.4% | |||
Verizon Communications, Inc. | 176,802 | 6,861,686 | |
Entertainment - 0.3% | |||
Activision Blizzard, Inc. | 12,777 | 974,246 | |
Electronic Arts, Inc. | 27,284 | 3,026,887 | |
The Walt Disney Co. (a) | 7,096 | 706,833 | |
4,707,966 | |||
Interactive Media & Services - 5.1% | |||
Alphabet, Inc.: | |||
Class A (a) | 330,200 | 29,737,812 | |
Class C (a) | 377,025 | 34,045,358 | |
Meta Platforms, Inc. Class A (a) | 180,303 | 31,542,207 | |
95,325,377 | |||
Media - 1.0% | |||
Comcast Corp. Class A | 486,411 | 18,079,897 | |
TOTAL COMMUNICATION SERVICES | 124,974,926 | ||
CONSUMER DISCRETIONARY - 12.4% | |||
Automobiles - 1.7% | |||
General Motors Co. | 96,691 | 3,745,809 | |
Harley-Davidson, Inc. | 134,060 | 6,374,553 | |
Tesla, Inc. (a) | 99,372 | 20,441,814 | |
30,562,176 | |||
Distributors - 0.1% | |||
LKQ Corp. | 29,950 | 1,715,836 | |
Diversified Consumer Services - 0.1% | |||
Service Corp. International | 27,533 | 1,859,303 | |
Hotels, Restaurants & Leisure - 3.6% | |||
Airbnb, Inc. Class A (a) | 75,715 | 9,334,145 | |
Booking Holdings, Inc. (a) | 6,171 | 15,575,604 | |
Chipotle Mexican Grill, Inc. (a) | 3,421 | 5,100,985 | |
Expedia, Inc. (a) | 12,918 | 1,407,674 | |
Hyatt Hotels Corp. Class A (a) | 2,823 | 328,146 | |
McDonald's Corp. | 52,988 | 13,984,063 | |
Starbucks Corp. (b) | 154,037 | 15,725,637 | |
Yum! Brands, Inc. | 36,108 | 4,591,493 | |
66,047,747 | |||
Household Durables - 0.4% | |||
NVR, Inc. (a) | 1,348 | 6,974,040 | |
Toll Brothers, Inc. | 17,041 | 1,021,438 | |
Whirlpool Corp. (b) | 564 | 77,821 | |
8,073,299 | |||
Internet & Direct Marketing Retail - 2.6% | |||
Amazon.com, Inc. (a) | 421,831 | 39,749,135 | |
eBay, Inc. | 199,864 | 9,173,758 | |
48,922,893 | |||
Specialty Retail - 3.0% | |||
AutoZone, Inc. (a) | 1,648 | 4,097,818 | |
Bath & Body Works, Inc. | 18,264 | 746,450 | |
Lowe's Companies, Inc. | 37,190 | 7,651,843 | |
O'Reilly Automotive, Inc. (a) | 7,929 | 6,581,863 | |
The Home Depot, Inc. | 63,288 | 18,767,424 | |
TJX Companies, Inc. | 159,284 | 12,201,154 | |
Ulta Beauty, Inc. (a) | 10,798 | 5,602,002 | |
Williams-Sonoma, Inc. | 2,554 | 319,046 | |
55,967,600 | |||
Textiles, Apparel & Luxury Goods - 0.9% | |||
NIKE, Inc. Class B | 135,403 | 16,084,522 | |
TOTAL CONSUMER DISCRETIONARY | 229,233,376 | ||
CONSUMER STAPLES - 6.8% | |||
Beverages - 1.7% | |||
PepsiCo, Inc. | 55,107 | 9,562,718 | |
The Coca-Cola Co. | 360,883 | 21,476,147 | |
31,038,865 | |||
Food & Staples Retailing - 0.9% | |||
Costco Wholesale Corp. | 20,785 | 10,063,681 | |
Kroger Co. | 101,415 | 4,375,043 | |
Walmart, Inc. | 9,755 | 1,386,478 | |
15,825,202 | |||
Food Products - 1.9% | |||
Archer Daniels Midland Co. | 85,932 | 6,840,187 | |
Conagra Brands, Inc. | 94,992 | 3,458,659 | |
Mondelez International, Inc. | 220,271 | 14,357,264 | |
The Kraft Heinz Co. | 284,064 | 11,061,452 | |
35,717,562 | |||
Household Products - 1.3% | |||
Church & Dwight Co., Inc. | 14,804 | 1,240,279 | |
Colgate-Palmolive Co. | 57,395 | 4,207,054 | |
Procter & Gamble Co. | 136,585 | 18,788,633 | |
24,235,966 | |||
Personal Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 30,197 | 7,339,381 | |
Tobacco - 0.6% | |||
Altria Group, Inc. | 117,200 | 5,441,596 | |
Philip Morris International, Inc. | 61,535 | 5,987,356 | |
11,428,952 | |||
TOTAL CONSUMER STAPLES | 125,585,928 | ||
ENERGY - 4.6% | |||
Energy Equipment & Services - 0.5% | |||
Halliburton Co. | 23,682 | 857,999 | |
Schlumberger Ltd. | 147,249 | 7,835,119 | |
Weatherford International PLC (a) | 1,568 | 104,460 | |
8,797,578 | |||
Oil, Gas & Consumable Fuels - 4.1% | |||
Cheniere Energy, Inc. | 9,997 | 1,572,928 | |
Chevron Corp. | 119,708 | 19,245,455 | |
Coterra Energy, Inc. | 32,469 | 810,751 | |
Diamondback Energy, Inc. | 4,398 | 618,271 | |
DT Midstream, Inc. | 1,799 | 90,310 | |
EOG Resources, Inc. | 51,035 | 5,767,976 | |
Exxon Mobil Corp. | 249,935 | 27,470,356 | |
Marathon Oil Corp. | 168,291 | 4,232,519 | |
Marathon Petroleum Corp. | 53,768 | 6,645,725 | |
Murphy Oil Corp. | 27,207 | 1,061,617 | |
Occidental Petroleum Corp. | 69,288 | 4,057,505 | |
Occidental Petroleum Corp. warrants 8/3/27 (a) | 9,120 | 336,163 | |
Phillips 66 Co. | 12,526 | 1,284,667 | |
Pioneer Natural Resources Co. | 7,828 | 1,568,809 | |
Targa Resources Corp. | 24,607 | 1,823,379 | |
76,586,431 | |||
TOTAL ENERGY | 85,384,009 | ||
FINANCIALS - 12.0% | |||
Banks - 3.6% | |||
Bank of America Corp. | 519,230 | 17,809,589 | |
Citigroup, Inc. | 889 | 45,063 | |
Citizens Financial Group, Inc. | 11,862 | 495,357 | |
East West Bancorp, Inc. | 66,991 | 5,105,384 | |
Fifth Third Bancorp | 69,939 | 2,538,786 | |
JPMorgan Chase & Co. | 200,887 | 28,797,151 | |
PNC Financial Services Group, Inc. | 200 | 31,584 | |
Synovus Financial Corp. | 27,825 | 1,163,363 | |
U.S. Bancorp | 117,612 | 5,613,621 | |
Wells Fargo & Co. | 111,811 | 5,229,400 | |
66,829,298 | |||
Capital Markets - 2.8% | |||
Bank of New York Mellon Corp. | 232,920 | 11,850,970 | |
Cboe Global Markets, Inc. | 44,893 | 5,664,150 | |
Charles Schwab Corp. | 28,264 | 2,202,331 | |
CME Group, Inc. | 24,253 | 4,495,536 | |
FactSet Research Systems, Inc. | 4,754 | 1,970,771 | |
Goldman Sachs Group, Inc. | 23,998 | 8,438,897 | |
Interactive Brokers Group, Inc. | 14,605 | 1,257,637 | |
LPL Financial | 40,912 | 10,209,999 | |
MarketAxess Holdings, Inc. | 1,914 | 653,535 | |
NASDAQ, Inc. | 22,926 | 1,285,232 | |
Stifel Financial Corp. | 19,073 | 1,274,649 | |
Tradeweb Markets, Inc. Class A | 35,571 | 2,521,628 | |
51,825,335 | |||
Consumer Finance - 1.1% | |||
American Express Co. | 86,308 | 15,016,729 | |
Capital One Financial Corp. | 25,114 | 2,739,435 | |
Synchrony Financial | 45,267 | 1,616,485 | |
19,372,649 | |||
Diversified Financial Services - 2.2% | |||
Berkshire Hathaway, Inc. Class B (a) | 130,785 | 39,912,966 | |
Insurance - 2.3% | |||
Aon PLC | 14,995 | 4,559,230 | |
Everest Re Group Ltd. | 17,971 | 6,900,325 | |
Hartford Financial Services Group, Inc. | 31,846 | 2,492,905 | |
Kinsale Capital Group, Inc. | 390 | 124,293 | |
Loews Corp. | 4,687 | 286,329 | |
Marsh & McLennan Companies, Inc. | 13,147 | 2,131,655 | |
Progressive Corp. | 101,500 | 14,567,280 | |
Reinsurance Group of America, Inc. | 8,887 | 1,283,905 | |
Ryan Specialty Group Holdings, Inc. (a)(b) | 42,303 | 1,781,802 | |
The Travelers Companies, Inc. | 15,493 | 2,868,064 | |
W.R. Berkley Corp. | 94,115 | 6,229,472 | |
43,225,260 | |||
Thrifts & Mortgage Finance - 0.0% | |||
TFS Financial Corp. (b) | 40,848 | 591,888 | |
TOTAL FINANCIALS | 221,757,396 | ||
HEALTH CARE - 13.9% | |||
Biotechnology - 2.1% | |||
AbbVie, Inc. | 37,232 | 5,730,005 | |
Amgen, Inc. | 34,345 | 7,956,363 | |
Biogen, Inc. (a) | 10,912 | 2,944,712 | |
Gilead Sciences, Inc. | 176,150 | 14,185,360 | |
Incyte Corp. (a) | 13,825 | 1,064,249 | |
Sarepta Therapeutics, Inc. (a) | 1,242 | 151,685 | |
United Therapeutics Corp. (a) | 19,357 | 4,762,596 | |
Vir Biotechnology, Inc. (a) | 65,850 | 1,501,380 | |
38,296,350 | |||
Health Care Equipment & Supplies - 1.5% | |||
Abbott Laboratories | 172,878 | 17,585,150 | |
Becton, Dickinson & Co. | 3,434 | 805,445 | |
IDEXX Laboratories, Inc. (a) | 174 | 82,344 | |
Intuitive Surgical, Inc. (a) | 5,744 | 1,317,616 | |
Medtronic PLC | 33,863 | 2,803,856 | |
Zimmer Biomet Holdings, Inc. | 43,756 | 5,420,056 | |
Zimvie, Inc. (a) | 13,521 | 153,869 | |
28,168,336 | |||
Health Care Providers & Services - 4.4% | |||
AmerisourceBergen Corp. | 21,167 | 3,292,739 | |
Centene Corp. (a) | 23,559 | 1,611,436 | |
Cigna Group | 15,900 | 4,644,390 | |
CVS Health Corp. | 179,587 | 15,002,698 | |
Elevance Health, Inc. | 33,522 | 15,744,278 | |
Humana, Inc. | 1,907 | 944,003 | |
McKesson Corp. | 13,200 | 4,617,492 | |
Quest Diagnostics, Inc. | 10,452 | 1,446,139 | |
UnitedHealth Group, Inc. | 71,885 | 34,212,947 | |
81,516,122 | |||
Life Sciences Tools & Services - 0.5% | |||
Danaher Corp. | 23,505 | 5,818,193 | |
IQVIA Holdings, Inc. (a) | 1,177 | 245,369 | |
Thermo Fisher Scientific, Inc. | 7,555 | 4,092,997 | |
10,156,559 | |||
Pharmaceuticals - 5.4% | |||
Bristol-Myers Squibb Co. | 249,463 | 17,202,968 | |
Eli Lilly & Co. | 39,699 | 12,355,123 | |
Johnson & Johnson | 187,942 | 28,803,991 | |
Merck & Co., Inc. | 180,767 | 19,204,686 | |
Pfizer, Inc. | 536,874 | 21,780,978 | |
99,347,746 | |||
TOTAL HEALTH CARE | 257,485,113 | ||
INDUSTRIALS - 10.3% | |||
Aerospace & Defense - 2.4% | |||
General Dynamics Corp. | 17,022 | 3,879,484 | |
L3Harris Technologies, Inc. | 7,031 | 1,484,877 | |
Lockheed Martin Corp. | 30,261 | 14,351,582 | |
Northrop Grumman Corp. | 14,529 | 6,743,054 | |
Parsons Corp. (a) | 90,276 | 4,065,128 | |
Raytheon Technologies Corp. | 56,403 | 5,532,570 | |
Textron, Inc. | 110,374 | 8,005,426 | |
44,062,121 | |||
Air Freight & Logistics - 0.4% | |||
United Parcel Service, Inc. Class B | 37,956 | 6,926,590 | |
Building Products - 0.6% | |||
Allegion PLC | 26,962 | 3,038,887 | |
Carrier Global Corp. | 148,015 | 6,665,115 | |
Johnson Controls International PLC | 2,573 | 161,379 | |
Trane Technologies PLC | 6,283 | 1,162,167 | |
11,027,548 | |||
Commercial Services & Supplies - 0.6% | |||
Cintas Corp. | 17,229 | 7,554,400 | |
Republic Services, Inc. | 17,331 | 2,234,486 | |
Rollins, Inc. | 10,872 | 382,694 | |
Waste Management, Inc. | 5,751 | 861,270 | |
11,032,850 | |||
Construction & Engineering - 0.6% | |||
AECOM | 104,036 | 8,984,549 | |
Comfort Systems U.S.A., Inc. | 3,492 | 507,876 | |
EMCOR Group, Inc. | 3,588 | 599,985 | |
10,092,410 | |||
Electrical Equipment - 1.0% | |||
Acuity Brands, Inc. | 24,393 | 4,731,266 | |
AMETEK, Inc. | 28,509 | 4,035,734 | |
Emerson Electric Co. | 109,431 | 9,051,038 | |
nVent Electric PLC | 31,604 | 1,448,727 | |
19,266,765 | |||
Industrial Conglomerates - 0.4% | |||
3M Co. | 65,152 | 7,019,476 | |
Machinery - 2.6% | |||
AGCO Corp. | 21,537 | 3,032,625 | |
Allison Transmission Holdings, Inc. | 58,827 | 2,794,283 | |
Caterpillar, Inc. | 35,205 | 8,433,358 | |
Deere & Co. | 37,077 | 15,544,161 | |
Fortive Corp. | 105,555 | 7,036,296 | |
Otis Worldwide Corp. | 25,001 | 2,115,585 | |
PACCAR, Inc. | 95,889 | 6,923,186 | |
Parker Hannifin Corp. | 7,265 | 2,556,190 | |
48,435,684 | |||
Professional Services - 0.1% | |||
Leidos Holdings, Inc. | 26,883 | 2,609,533 | |
Road & Rail - 1.4% | |||
CSX Corp. | 420,481 | 12,820,466 | |
Norfolk Southern Corp. | 11,326 | 2,546,311 | |
Union Pacific Corp. | 51,735 | 10,723,631 | |
26,090,408 | |||
Trading Companies & Distributors - 0.2% | |||
Fastenal Co. | 41,780 | 2,154,177 | |
Univar Solutions, Inc. (a) | 27,966 | 971,819 | |
3,125,996 | |||
TOTAL INDUSTRIALS | 189,689,381 | ||
INFORMATION TECHNOLOGY - 26.8% | |||
Communications Equipment - 1.9% | |||
Arista Networks, Inc. (a) | 85,281 | 11,828,475 | |
Cisco Systems, Inc. | 430,573 | 20,848,345 | |
F5, Inc. (a) | 18,292 | 2,615,390 | |
35,292,210 | |||
Electronic Equipment & Components - 0.1% | |||
Keysight Technologies, Inc. (a) | 1,594 | 254,976 | |
Vontier Corp. | 76,389 | 1,999,100 | |
2,254,076 | |||
IT Services - 3.3% | |||
Accenture PLC Class A | 5,063 | 1,344,480 | |
Amdocs Ltd. | 4,183 | 383,205 | |
Automatic Data Processing, Inc. | 3,512 | 772,008 | |
Gartner, Inc. (a) | 6,054 | 1,984,562 | |
Global Payments, Inc. | 12,202 | 1,369,064 | |
GoDaddy, Inc. (a) | 56,872 | 4,305,779 | |
MasterCard, Inc. Class A | 64,461 | 22,902,349 | |
Paychex, Inc. | 8,689 | 959,266 | |
PayPal Holdings, Inc. (a) | 150,850 | 11,102,560 | |
VeriSign, Inc. (a) | 26,376 | 5,191,588 | |
Visa, Inc. Class A | 45,962 | 10,108,882 | |
60,423,743 | |||
Semiconductors & Semiconductor Equipment - 5.9% | |||
Advanced Micro Devices, Inc. (a) | 3,714 | 291,846 | |
Analog Devices, Inc. | 37,965 | 6,965,439 | |
Applied Materials, Inc. | 11,232 | 1,304,597 | |
Broadcom, Inc. | 39,284 | 23,346,088 | |
Enphase Energy, Inc. (a) | 26,253 | 5,527,044 | |
Impinj, Inc. (a) | 9,660 | 1,281,109 | |
Intel Corp. | 598,838 | 14,929,031 | |
Lattice Semiconductor Corp. (a) | 7,736 | 657,251 | |
Microchip Technology, Inc. | 95,013 | 7,698,903 | |
NVIDIA Corp. | 94,841 | 22,018,287 | |
NXP Semiconductors NV | 15,040 | 2,684,339 | |
Qorvo, Inc. (a) | 64,477 | 6,505,085 | |
Qualcomm, Inc. | 137,363 | 16,968,451 | |
110,177,470 | |||
Software - 8.7% | |||
Adobe, Inc. (a) | 52,883 | 17,131,448 | |
Dropbox, Inc. Class A (a) | 322,402 | 6,577,001 | |
Gen Digital, Inc. | 28,601 | 558,006 | |
Microsoft Corp. | 406,473 | 101,382,496 | |
New Relic, Inc. (a) | 25,754 | 1,879,269 | |
Palo Alto Networks, Inc. (a) | 54,302 | 10,228,868 | |
RingCentral, Inc. (a) | 46,577 | 1,538,904 | |
Salesforce.com, Inc. (a) | 35,512 | 5,810,118 | |
Synopsys, Inc. (a) | 36,353 | 13,223,767 | |
Teradata Corp. (a) | 3,266 | 133,122 | |
Workday, Inc. Class A (a) | 13,838 | 2,566,534 | |
161,029,533 | |||
Technology Hardware, Storage & Peripherals - 6.9% | |||
Apple, Inc. | 767,078 | 113,074,955 | |
NetApp, Inc. | 72,907 | 4,706,147 | |
Pure Storage, Inc. Class A (a) | 331,016 | 9,447,197 | |
127,228,299 | |||
TOTAL INFORMATION TECHNOLOGY | 496,405,331 | ||
MATERIALS - 2.6% | |||
Chemicals - 1.4% | |||
CF Industries Holdings, Inc. | 107,303 | 9,216,255 | |
Ecolab, Inc. | 5,718 | 911,278 | |
Linde PLC | 16,034 | 5,585,765 | |
Olin Corp. | 65,551 | 3,785,570 | |
Sherwin-Williams Co. | 14,319 | 3,169,511 | |
Westlake Corp. | 29,946 | 3,567,766 | |
26,236,145 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 26,402 | 3,704,729 | |
Containers & Packaging - 0.5% | |||
Sealed Air Corp. | 101,588 | 4,939,209 | |
WestRock Co. | 124,389 | 3,905,815 | |
8,845,024 | |||
Metals & Mining - 0.5% | |||
Newmont Corp. | 48,719 | 2,124,636 | |
Nucor Corp. | 44,855 | 7,510,521 | |
9,635,157 | |||
TOTAL MATERIALS | 48,421,055 | ||
REAL ESTATE - 1.4% | |||
Equity Real Estate Investment Trusts (REITs) - 1.4% | |||
Crown Castle International Corp. | 27,901 | 3,648,056 | |
Equity Residential (SBI) | 20,561 | 1,285,474 | |
Kilroy Realty Corp. | 8,105 | 291,942 | |
National Retail Properties, Inc. | 12,434 | 563,509 | |
National Storage Affiliates Trust | 30,135 | 1,274,711 | |
Public Storage | 37,480 | 11,204,646 | |
SBA Communications Corp. Class A | 13,830 | 3,586,811 | |
Ventas, Inc. | 89,355 | 4,347,121 | |
26,202,270 | |||
UTILITIES - 1.8% | |||
Electric Utilities - 0.8% | |||
FirstEnergy Corp. | 75,628 | 2,990,331 | |
Hawaiian Electric Industries, Inc. | 113,469 | 4,589,821 | |
Xcel Energy, Inc. | 131,793 | 8,509,874 | |
16,090,026 | |||
Multi-Utilities - 1.0% | |||
Consolidated Edison, Inc. | 97,500 | 8,711,625 | |
Sempra Energy | 11,557 | 1,733,088 | |
WEC Energy Group, Inc. | 87,105 | 7,722,729 | |
18,167,442 | |||
TOTAL UTILITIES | 34,257,468 | ||
TOTAL COMMON STOCKS (Cost $1,498,699,439) | 1,839,396,253 | ||
Money Market Funds - 1.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.63% (c) | 5,728,381 | 5,729,527 | |
Fidelity Securities Lending Cash Central Fund 4.63% (c)(d) | 15,871,513 | 15,873,100 | |
TOTAL MONEY MARKET FUNDS (Cost $21,602,627) | 21,602,627 | ||
TOTAL INVESTMENT IN SECURITIES - 100.6% (Cost $1,520,302,066) | 1,860,998,880 |
NET OTHER ASSETS (LIABILITIES) - (0.6)% | (10,923,276) |
NET ASSETS - 100.0% | 1,850,075,604 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 38 | Mar 2023 | 7,553,450 | 209,432 | 209,432 |
The notional amount of futures purchased as a percentage of Net Assets is 0.4% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.63% | 91,438,262 | 131,940,091 | 217,648,826 | 283,718 | 35 | (35) | 5,729,527 | 0.0% |
Fidelity Securities Lending Cash Central Fund 4.63% | - | 31,512,681 | 15,639,581 | 1,777 | - | - | 15,873,100 | 0.1% |
Total | 91,438,262 | 163,452,772 | 233,288,407 | 285,495 | 35 | (35) | 21,602,627 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 124,974,926 | 124,974,926 | - | - |
Consumer Discretionary | 229,233,376 | 229,233,376 | - | - |
Consumer Staples | 125,585,928 | 125,585,928 | - | - |
Energy | 85,384,009 | 85,384,009 | - | - |
Financials | 221,757,396 | 221,757,396 | - | - |
Health Care | 257,485,113 | 257,485,113 | - | - |
Industrials | 189,689,381 | 189,689,381 | - | - |
Information Technology | 496,405,331 | 496,405,331 | - | - |
Materials | 48,421,055 | 48,421,055 | - | - |
Real Estate | 26,202,270 | 26,202,270 | - | - |
Utilities | 34,257,468 | 34,257,468 | - | - |
Money Market Funds | 21,602,627 | 21,602,627 | - | - |
Total Investments in Securities: | 1,860,998,880 | 1,860,998,880 | - | - |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 209,432 | 209,432 | - | - |
Total Assets | 209,432 | 209,432 | - | - |
Total Derivative Instruments: | 209,432 | 209,432 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 209,432 | 0 |
Total Equity Risk | 209,432 | 0 |
Total Value of Derivatives | 209,432 | 0 |
Statement of Assets and Liabilities | ||||
February 28, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $15,473,889) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,498,699,439) | $ | 1,839,396,253 | ||
Fidelity Central Funds (cost $21,602,627) | 21,602,627 | |||
Total Investment in Securities (cost $1,520,302,066) | $ | 1,860,998,880 | ||
Segregated cash with brokers for derivative instruments | 530,000 | |||
Receivable for investments sold | 22,656,625 | |||
Receivable for fund shares sold | 1,320,130 | |||
Dividends receivable | 2,775,095 | |||
Distributions receivable from Fidelity Central Funds | 45,763 | |||
Total assets | 1,888,326,493 | |||
Liabilities | ||||
Payable for investments purchased | $ | 20,092,609 | ||
Payable for fund shares redeemed | 1,630,855 | |||
Accrued management fee | 620,950 | |||
Payable for daily variation margin on futures contracts | 33,375 | |||
Collateral on securities loaned | 15,873,100 | |||
Total Liabilities | 38,250,889 | |||
Net Assets | $ | 1,850,075,604 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,587,011,322 | ||
Total accumulated earnings (loss) | 263,064,282 | |||
Net Assets | $ | 1,850,075,604 | ||
Net Asset Value , offering price and redemption price per share ($1,850,075,604 ÷ 100,510,444 shares) | $ | 18.41 |
Statement of Operations | ||||
Six months ended February 28, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 16,446,980 | ||
Interest | 20,941 | |||
Income from Fidelity Central Funds (including $1,777 from security lending) | 285,495 | |||
Total Income | 16,753,416 | |||
Expenses | ||||
Management fee | $ | 3,910,631 | ||
Independent trustees' fees and expenses | 3,775 | |||
Interest | 20,138 | |||
Total expenses before reductions | 3,934,544 | |||
Expense reductions | (1,626) | |||
Total expenses after reductions | 3,932,918 | |||
Net Investment income (loss) | 12,820,498 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (61,288,033) | |||
Fidelity Central Funds | 35 | |||
Futures contracts | 1,576,113 | |||
Total net realized gain (loss) | (59,711,885) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 42,296,108 | |||
Fidelity Central Funds | (35) | |||
Futures contracts | (744,185) | |||
Total change in net unrealized appreciation (depreciation) | 41,551,888 | |||
Net gain (loss) | (18,159,997) | |||
Net increase (decrease) in net assets resulting from operations | $ | (5,339,499) |
Statement of Changes in Net Assets | ||||
Six months ended February 28, 2023 (Unaudited) | Year ended August 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,820,498 | $ | 19,467,302 |
Net realized gain (loss) | (59,711,885) | 12,825,524 | ||
Change in net unrealized appreciation (depreciation) | 41,551,888 | (204,549,067) | ||
Net increase (decrease) in net assets resulting from operations | (5,339,499) | (172,256,241) | ||
Distributions to shareholders | (22,292,999) | (204,215,644) | ||
Share transactions | ||||
Proceeds from sales of shares | 349,710,645 | 1,542,789,506 | ||
Reinvestment of distributions | 18,530,259 | 176,281,500 | ||
Cost of shares redeemed | (952,644,135) | (389,268,600) | ||
Net increase (decrease) in net assets resulting from share transactions | (584,403,231) | 1,329,802,406 | ||
Total increase (decrease) in net assets | (612,035,729) | 953,330,521 | ||
Net Assets | ||||
Beginning of period | 2,462,111,333 | 1,508,780,812 | ||
End of period | $ | 1,850,075,604 | $ | 2,462,111,333 |
Other Information | ||||
Shares | ||||
Sold | 19,310,463 | 79,739,464 | ||
Issued in reinvestment of distributions | 1,043,371 | 8,430,488 | ||
Redeemed | (53,073,347) | (19,431,162) | ||
Net increase (decrease) | (32,719,513) | 68,738,790 | ||
Fidelity® Large Cap Core Enhanced Index Fund |
Six months ended (Unaudited) February 28, 2023 | Years ended August 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 18.48 | $ | 23.40 | $ | 18.12 | $ | 15.21 | $ | 16.22 | $ | 13.74 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .12 | .24 | .22 | .24 | .27 | .27 | ||||||
Net realized and unrealized gain (loss) | .03 C | (2.08) | 5.50 | 3.06 | (.27) | 2.74 | ||||||
Total from investment operations | .15 | (1.84) | 5.72 | 3.30 | - | 3.01 | ||||||
Distributions from net investment income | (.15) | (.36) D | (.22) | (.26) | (.24) | (.19) | ||||||
Distributions from net realized gain | (.08) | (2.72) D | (.22) | (.13) | (.78) | (.33) | ||||||
Total distributions | (.22) E | (3.08) | (.44) | (.39) | (1.01) E | (.53) E | ||||||
Net asset value, end of period | $ | 18.41 | $ | 18.48 | $ | 23.40 | $ | 18.12 | $ | 15.21 | $ | 16.22 |
Total Return F,G | .87% | (9.41)% | 32.14% | 21.97% | .65% | 22.32% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .39% J | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | 1.28% J | 1.18% | 1.09% | 1.49% | 1.81% | 1.78% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,850,076 | $ | 2,462,111 | $ | 1,508,781 | $ | 1,087,245 | $ | 834,635 | $ | 758,736 |
Portfolio turnover rate K | 103% J | 104% | 83% | 63% | 77% | 92% |
Top Holdings (% of Fund's net assets) | ||
Synopsys, Inc. | 1.1 | |
O'Reilly Automotive, Inc. | 1.0 | |
Nucor Corp. | 1.0 | |
AutoZone, Inc. | 1.0 | |
Agilent Technologies, Inc. | 0.9 | |
Carrier Global Corp. | 0.9 | |
United Rentals, Inc. | 0.9 | |
Cintas Corp. | 0.9 | |
Biogen, Inc. | 0.9 | |
Cheniere Energy, Inc. | 0.8 | |
9.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 17.7 | |
Information Technology | 17.5 | |
Consumer Discretionary | 13.7 | |
Financials | 12.6 | |
Health Care | 10.5 | |
Real Estate | 6.5 | |
Materials | 6.1 | |
Energy | 5.3 | |
Utilities | 4.1 | |
Consumer Staples | 2.6 | |
Communication Services | 1.9 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 4% |
Common Stocks - 98.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 1.9% | |||
Entertainment - 0.6% | |||
Live Nation Entertainment, Inc. (a) | 38,191 | 2,752,043 | |
Playtika Holding Corp. (a) | 333,174 | 3,198,470 | |
Spotify Technology SA (a) | 43,024 | 5,003,691 | |
10,954,204 | |||
Interactive Media & Services - 0.3% | |||
Pinterest, Inc. Class A (a) | 97,435 | 2,446,593 | |
Vimeo, Inc. (a)(b) | 434,824 | 1,665,376 | |
4,111,969 | |||
Media - 1.0% | |||
Liberty Media Corp. Liberty SiriusXM: | |||
Series A (a) | 70,713 | 2,290,394 | |
Series C (a) | 80,948 | 2,608,145 | |
News Corp.: | |||
Class A | 352,147 | 6,039,321 | |
Class B | 150,270 | 2,593,660 | |
The Trade Desk, Inc. (a) | 86,029 | 4,814,183 | |
18,345,703 | |||
TOTAL COMMUNICATION SERVICES | 33,411,876 | ||
CONSUMER DISCRETIONARY - 13.7% | |||
Automobiles - 0.6% | |||
Harley-Davidson, Inc. | 222,802 | 10,594,235 | |
Distributors - 1.0% | |||
Genuine Parts Co. | 75,891 | 13,422,082 | |
LKQ Corp. | 80,631 | 4,619,350 | |
18,041,432 | |||
Diversified Consumer Services - 0.4% | |||
H&R Block, Inc. | 176,239 | 6,485,595 | |
Hotels, Restaurants & Leisure - 4.3% | |||
Airbnb, Inc. Class A (a) | 74,753 | 9,215,550 | |
Booking Holdings, Inc. (a) | 4,055 | 10,234,820 | |
Caesars Entertainment, Inc. (a) | 143,437 | 7,280,862 | |
Chipotle Mexican Grill, Inc. (a) | 10,158 | 15,146,391 | |
Expedia, Inc. (a) | 63,161 | 6,882,654 | |
International Game Technology PLC (b) | 268,562 | 7,133,007 | |
MGM Resorts International (b) | 236,660 | 10,178,747 | |
Wendy's Co. (b) | 439,931 | 9,660,885 | |
Yum! Brands, Inc. | 21,351 | 2,714,993 | |
78,447,909 | |||
Household Durables - 1.7% | |||
NVR, Inc. (a) | 1,699 | 8,789,980 | |
Toll Brothers, Inc. | 186,862 | 11,200,508 | |
TopBuild Corp. (a) | 52,209 | 10,838,066 | |
Whirlpool Corp. (b) | 7,833 | 1,080,797 | |
31,909,351 | |||
Internet & Direct Marketing Retail - 0.9% | |||
eBay, Inc. | 246,112 | 11,296,541 | |
Etsy, Inc. (a) | 45,579 | 5,533,746 | |
16,830,287 | |||
Multiline Retail - 0.4% | |||
Macy's, Inc. | 362,784 | 7,422,561 | |
Specialty Retail - 4.0% | |||
AutoZone, Inc. (a) | 6,939 | 17,254,101 | |
Bath & Body Works, Inc. | 36,553 | 1,493,921 | |
Dick's Sporting Goods, Inc. | 46,256 | 5,949,909 | |
GameStop Corp. Class A (b) | 24,356 | 468,366 | |
O'Reilly Automotive, Inc. (a) | 22,127 | 18,367,623 | |
Ross Stores, Inc. | 91,310 | 10,093,407 | |
Ulta Beauty, Inc. (a) | 24,450 | 12,684,660 | |
Williams-Sonoma, Inc. | 45,308 | 5,659,875 | |
71,971,862 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Crocs, Inc. (a) | 17,395 | 2,117,145 | |
Tapestry, Inc. | 92,894 | 4,041,818 | |
Under Armour, Inc.: | |||
Class A (sub. vtg.) (a) | 169,791 | 1,686,025 | |
Class C (non-vtg.) (a) | 45,513 | 400,514 | |
8,245,502 | |||
TOTAL CONSUMER DISCRETIONARY | 249,948,734 | ||
CONSUMER STAPLES - 2.6% | |||
Food & Staples Retailing - 0.6% | |||
Kroger Co. | 245,007 | 10,569,602 | |
Food Products - 1.6% | |||
Archer Daniels Midland Co. | 51,006 | 4,060,078 | |
Conagra Brands, Inc. | 256,480 | 9,338,437 | |
Darling Ingredients, Inc. (a) | 57,129 | 3,614,552 | |
Lamb Weston Holdings, Inc. | 89,214 | 8,978,497 | |
The Kraft Heinz Co. | 80,759 | 3,144,755 | |
29,136,319 | |||
Personal Products - 0.4% | |||
Coty, Inc. Class A (a) | 705,825 | 7,975,823 | |
TOTAL CONSUMER STAPLES | 47,681,744 | ||
ENERGY - 5.3% | |||
Energy Equipment & Services - 0.9% | |||
Baker Hughes Co. Class A | 10,197 | 312,028 | |
Halliburton Co. | 280,343 | 10,156,827 | |
Schlumberger Ltd. | 123,723 | 6,583,301 | |
17,052,156 | |||
Oil, Gas & Consumable Fuels - 4.4% | |||
Cheniere Energy, Inc. | 97,828 | 15,392,258 | |
Coterra Energy, Inc. | 235,653 | 5,884,255 | |
Devon Energy Corp. | 108,552 | 5,853,124 | |
Diamondback Energy, Inc. | 42,043 | 5,910,405 | |
Hess Corp. | 8,285 | 1,115,990 | |
Marathon Oil Corp. | 452,231 | 11,373,610 | |
Occidental Petroleum Corp. | 21,531 | 1,260,855 | |
ONEOK, Inc. | 103,720 | 6,788,474 | |
Ovintiv, Inc. | 24,233 | 1,036,445 | |
PDC Energy, Inc. | 7,571 | 508,090 | |
Phillips 66 Co. | 124,096 | 12,727,286 | |
Southwestern Energy Co. (a) | 202,463 | 1,073,054 | |
Targa Resources Corp. | 60,563 | 4,487,718 | |
The Williams Companies, Inc. | 220,024 | 6,622,722 | |
80,034,286 | |||
TOTAL ENERGY | 97,086,442 | ||
FINANCIALS - 12.6% | |||
Banks - 3.0% | |||
Citizens Financial Group, Inc. | 312,258 | 13,039,894 | |
East West Bancorp, Inc. | 144,234 | 10,992,073 | |
Fifth Third Bancorp | 364,068 | 13,215,668 | |
First Hawaiian, Inc. | 56,543 | 1,546,451 | |
First Horizon National Corp. | 11,929 | 295,481 | |
First Republic Bank | 43,977 | 5,409,611 | |
FNB Corp., Pennsylvania | 58,987 | 841,744 | |
Regions Financial Corp. | 106,413 | 2,481,551 | |
Synovus Financial Corp. | 115,283 | 4,819,982 | |
Wintrust Financial Corp. | 17,914 | 1,650,417 | |
54,292,872 | |||
Capital Markets - 5.0% | |||
Affiliated Managers Group, Inc. | 5,587 | 890,624 | |
Ameriprise Financial, Inc. | 20,290 | 6,956,832 | |
Bank of New York Mellon Corp. | 290,007 | 14,755,556 | |
Cboe Global Markets, Inc. | 36,140 | 4,559,784 | |
FactSet Research Systems, Inc. | 5,013 | 2,078,139 | |
Interactive Brokers Group, Inc. | 70,292 | 6,052,844 | |
Jefferies Financial Group, Inc. | 85,502 | 3,231,121 | |
LPL Financial | 54,785 | 13,672,145 | |
NASDAQ, Inc. | 217,099 | 12,170,570 | |
Raymond James Financial, Inc. | 110,156 | 11,947,520 | |
Robinhood Markets, Inc. (a)(b) | 357,719 | 3,602,230 | |
Stifel Financial Corp. | 87,692 | 5,860,456 | |
Tradeweb Markets, Inc. Class A | 73,616 | 5,218,638 | |
Virtu Financial, Inc. Class A | 42,940 | 789,237 | |
91,785,696 | |||
Consumer Finance - 0.6% | |||
Discover Financial Services | 1,353 | 151,536 | |
Synchrony Financial | 303,523 | 10,838,806 | |
10,990,342 | |||
Insurance - 3.7% | |||
AFLAC, Inc. | 13,645 | 929,907 | |
Arthur J. Gallagher & Co. | 47,814 | 8,957,953 | |
Brown & Brown, Inc. | 182,388 | 10,226,495 | |
Everest Re Group Ltd. | 24,288 | 9,325,863 | |
F&G Annuities & Life, Inc. | 10,389 | 211,624 | |
Fidelity National Financial, Inc. | 84,696 | 3,375,983 | |
Hartford Financial Services Group, Inc. | 46,896 | 3,671,019 | |
Progressive Corp. | 24,229 | 3,477,346 | |
Prudential Financial, Inc. | 106,960 | 10,696,000 | |
Reinsurance Group of America, Inc. | 32,391 | 4,679,528 | |
W.R. Berkley Corp. | 168,523 | 11,154,537 | |
66,706,255 | |||
Mortgage Real Estate Investment Trusts - 0.2% | |||
Annaly Capital Management, Inc. | 203,205 | 4,202,279 | |
Thrifts & Mortgage Finance - 0.1% | |||
MGIC Investment Corp. | 99,935 | 1,375,106 | |
TOTAL FINANCIALS | 229,352,550 | ||
HEALTH CARE - 10.5% | |||
Biotechnology - 3.1% | |||
Biogen, Inc. (a) | 57,270 | 15,454,882 | |
Exelixis, Inc. (a) | 40,607 | 693,568 | |
Gilead Sciences, Inc. | 107,417 | 8,650,291 | |
Horizon Therapeutics PLC (a) | 22,053 | 2,414,583 | |
Incyte Corp. (a) | 149,402 | 11,500,966 | |
Ionis Pharmaceuticals, Inc. (a) | 63,898 | 2,293,938 | |
Regeneron Pharmaceuticals, Inc. (a) | 2,504 | 1,904,092 | |
Sarepta Therapeutics, Inc. (a) | 44,124 | 5,388,864 | |
Seagen, Inc. (a) | 9,425 | 1,693,578 | |
Ultragenyx Pharmaceutical, Inc. (a) | 50,133 | 2,230,417 | |
United Therapeutics Corp. (a) | 16,213 | 3,989,047 | |
56,214,226 | |||
Health Care Equipment & Supplies - 2.4% | |||
Abiomed, Inc. (c) | 3,289 | 3,355 | |
Becton, Dickinson & Co. | 2,319 | 543,921 | |
Dentsply Sirona, Inc. | 124,603 | 4,743,636 | |
Hologic, Inc. (a) | 103,503 | 8,242,979 | |
IDEXX Laboratories, Inc. (a) | 24,620 | 11,651,169 | |
QuidelOrtho Corp. (a) | 32,311 | 2,809,118 | |
Shockwave Medical, Inc. (a) | 9,729 | 1,850,845 | |
Zimmer Biomet Holdings, Inc. | 104,800 | 12,981,576 | |
Zimvie, Inc. (a) | 23,607 | 268,648 | |
43,095,247 | |||
Health Care Providers & Services - 1.7% | |||
AmerisourceBergen Corp. | 41,611 | 6,473,007 | |
Elevance Health, Inc. | 19,114 | 8,977,272 | |
Guardant Health, Inc. (a) | 102,111 | 3,154,209 | |
Humana, Inc. | 2,974 | 1,472,189 | |
Molina Healthcare, Inc. (a) | 38,171 | 10,509,621 | |
Quest Diagnostics, Inc. | 9,151 | 1,266,132 | |
31,852,430 | |||
Life Sciences Tools & Services - 2.6% | |||
10X Genomics, Inc. (a) | 137,373 | 6,527,965 | |
Agilent Technologies, Inc. | 115,673 | 16,422,096 | |
IQVIA Holdings, Inc. (a) | 6,011 | 1,253,113 | |
Mettler-Toledo International, Inc. (a) | 8,981 | 12,876,150 | |
QIAGEN NV (a) | 30,429 | 1,398,213 | |
Syneos Health, Inc. (a) | 57,851 | 2,326,767 | |
Waters Corp. (a) | 19,564 | 6,082,252 | |
46,886,556 | |||
Pharmaceuticals - 0.7% | |||
Elanco Animal Health, Inc. (a) | 70,814 | 812,237 | |
Jazz Pharmaceuticals PLC (a) | 14,546 | 2,042,258 | |
Viatris, Inc. | 902,528 | 10,288,819 | |
13,143,314 | |||
TOTAL HEALTH CARE | 191,191,773 | ||
INDUSTRIALS - 17.7% | |||
Aerospace & Defense - 1.7% | |||
Axon Enterprise, Inc. (a) | 55,859 | 11,189,116 | |
Parsons Corp. (a) | 187,909 | 8,461,542 | |
Textron, Inc. | 169,806 | 12,316,029 | |
31,966,687 | |||
Airlines - 1.1% | |||
Delta Air Lines, Inc. (a) | 213,162 | 8,172,631 | |
United Airlines Holdings, Inc. (a) | 250,310 | 13,006,108 | |
21,178,739 | |||
Building Products - 1.5% | |||
Allegion PLC | 30,686 | 3,458,619 | |
Carrier Global Corp. | 360,683 | 16,241,555 | |
Johnson Controls International PLC | 11,821 | 741,413 | |
Owens Corning | 207 | 20,243 | |
Trane Technologies PLC | 37,318 | 6,902,710 | |
27,364,540 | |||
Commercial Services & Supplies - 2.0% | |||
Cintas Corp. | 36,565 | 16,032,656 | |
Republic Services, Inc. | 92,828 | 11,968,314 | |
Rollins, Inc. | 176,308 | 6,206,042 | |
Tetra Tech, Inc. | 14,432 | 1,975,596 | |
36,182,608 | |||
Construction & Engineering - 0.8% | |||
AECOM | 134,909 | 11,650,741 | |
EMCOR Group, Inc. | 20,411 | 3,413,127 | |
15,063,868 | |||
Electrical Equipment - 2.0% | |||
Acuity Brands, Inc. | 52,487 | 10,180,379 | |
AMETEK, Inc. | 88,718 | 12,558,920 | |
Atkore, Inc. (a) | 14,448 | 2,109,697 | |
nVent Electric PLC | 245,948 | 11,274,256 | |
36,123,252 | |||
Machinery - 3.6% | |||
AGCO Corp. | 80,264 | 11,301,974 | |
Allison Transmission Holdings, Inc. | 219,715 | 10,436,463 | |
Cummins, Inc. | 37,020 | 8,998,822 | |
Donaldson Co., Inc. | 26,289 | 1,662,779 | |
Fortive Corp. | 195,724 | 13,046,962 | |
Otis Worldwide Corp. | 36,223 | 3,065,190 | |
PACCAR, Inc. | 118,834 | 8,579,815 | |
Parker Hannifin Corp. | 16,948 | 5,963,154 | |
Snap-On, Inc. | 7,705 | 1,916,079 | |
64,971,238 | |||
Professional Services - 1.3% | |||
Booz Allen Hamilton Holding Corp. Class A | 85,683 | 8,116,751 | |
CoStar Group, Inc. (a) | 105,571 | 7,459,647 | |
Leidos Holdings, Inc. | 78,194 | 7,590,292 | |
23,166,690 | |||
Road & Rail - 1.3% | |||
CSX Corp. | 158,587 | 4,835,318 | |
Old Dominion Freight Lines, Inc. | 25,675 | 8,710,501 | |
Schneider National, Inc. Class B | 35,084 | 984,457 | |
XPO, Inc. (a) | 271,562 | 9,059,308 | |
23,589,584 | |||
Trading Companies & Distributors - 2.4% | |||
Fastenal Co. | 169,878 | 8,758,910 | |
United Rentals, Inc. | 34,402 | 16,118,369 | |
Univar Solutions, Inc. (a) | 95,952 | 3,334,332 | |
W.W. Grainger, Inc. | 22,344 | 14,935,400 | |
43,147,011 | |||
TOTAL INDUSTRIALS | 322,754,217 | ||
INFORMATION TECHNOLOGY - 17.5% | |||
Communications Equipment - 1.4% | |||
Arista Networks, Inc. (a) | 72,360 | 10,036,332 | |
F5, Inc. (a) | 32,608 | 4,662,292 | |
Juniper Networks, Inc. | 341,443 | 10,509,616 | |
25,208,240 | |||
Electronic Equipment & Components - 1.1% | |||
Amphenol Corp. Class A | 77,555 | 6,012,064 | |
Keysight Technologies, Inc. (a) | 80,839 | 12,931,006 | |
Vontier Corp. | 46,639 | 1,220,543 | |
20,163,613 | |||
IT Services - 4.0% | |||
Akamai Technologies, Inc. (a) | 21,163 | 1,536,434 | |
Amdocs Ltd. | 87,402 | 8,006,897 | |
EPAM Systems, Inc. (a) | 15,500 | 4,768,575 | |
FleetCor Technologies, Inc. (a) | 27,351 | 5,874,721 | |
Gartner, Inc. (a) | 9,647 | 3,162,383 | |
GoDaddy, Inc. (a) | 141,469 | 10,710,618 | |
Kyndryl Holdings, Inc. (a) | 91,888 | 1,441,723 | |
Okta, Inc. (a) | 70,245 | 5,007,766 | |
Paychex, Inc. | 32,041 | 3,537,326 | |
The Western Union Co. | 220,972 | 2,863,797 | |
Twilio, Inc. Class A (a)(b) | 181,996 | 12,231,951 | |
WEX, Inc. (a) | 21,347 | 4,115,915 | |
Wix.com Ltd. (a) | 101,934 | 9,228,085 | |
72,486,191 | |||
Semiconductors & Semiconductor Equipment - 2.9% | |||
Allegro MicroSystems LLC (a) | 70,302 | 3,070,791 | |
Cirrus Logic, Inc. (a) | 62,443 | 6,416,018 | |
Enphase Energy, Inc. (a) | 67,333 | 14,175,616 | |
Lattice Semiconductor Corp. (a) | 118,190 | 10,041,422 | |
Monolithic Power Systems, Inc. | 8,236 | 3,988,612 | |
Qorvo, Inc. (a) | 108,058 | 10,901,972 | |
Semtech Corp. (a) | 71,686 | 2,208,646 | |
Synaptics, Inc. (a) | 9,144 | 1,075,426 | |
51,878,503 | |||
Software - 7.6% | |||
Box, Inc. Class A (a) | 235,652 | 7,858,994 | |
Cadence Design Systems, Inc. (a) | 71,888 | 13,870,071 | |
Crowdstrike Holdings, Inc. (a) | 40,637 | 4,904,480 | |
DocuSign, Inc. (a) | 128,807 | 7,902,309 | |
Dropbox, Inc. Class A (a) | 450,956 | 9,199,502 | |
Fortinet, Inc. (a) | 131,798 | 7,834,073 | |
HubSpot, Inc. (a) | 11,380 | 4,402,467 | |
New Relic, Inc. (a) | 67,844 | 4,950,577 | |
Nutanix, Inc. Class A (a) | 108,285 | 3,059,051 | |
Palo Alto Networks, Inc. (a) | 52,599 | 9,908,074 | |
RingCentral, Inc. (a) | 254,828 | 8,419,517 | |
Splunk, Inc. (a) | 122,878 | 12,594,995 | |
Synopsys, Inc. (a) | 54,592 | 19,858,388 | |
Teradata Corp. (a) | 257,594 | 10,499,531 | |
Unity Software, Inc. (a)(b) | 23,380 | 711,687 | |
Workday, Inc. Class A (a) | 49,372 | 9,157,025 | |
Zoom Video Communications, Inc. Class A (a) | 47,865 | 3,570,250 | |
138,700,991 | |||
Technology Hardware, Storage & Peripherals - 0.5% | |||
NetApp, Inc. | 62,651 | 4,044,122 | |
Pure Storage, Inc. Class A (a) | 183,356 | 5,232,980 | |
9,277,102 | |||
TOTAL INFORMATION TECHNOLOGY | 317,714,640 | ||
MATERIALS - 6.1% | |||
Chemicals - 3.4% | |||
Ashland, Inc. | 25,398 | 2,585,008 | |
CF Industries Holdings, Inc. | 141,688 | 12,169,582 | |
Corteva, Inc. | 245,667 | 15,302,597 | |
Element Solutions, Inc. | 256,392 | 5,266,292 | |
Ginkgo Bioworks Holdings, Inc. Class A (a)(b) | 1,222,016 | 1,796,364 | |
Olin Corp. | 99,414 | 5,741,159 | |
The Chemours Co. LLC | 286,431 | 9,790,212 | |
Westlake Corp. | 77,103 | 9,186,051 | |
61,837,265 | |||
Containers & Packaging - 1.1% | |||
Avery Dennison Corp. | 15,852 | 2,888,076 | |
Berry Global Group, Inc. | 27,678 | 1,718,804 | |
Sealed Air Corp. | 179,994 | 8,751,308 | |
WestRock Co. | 186,334 | 5,850,888 | |
19,209,076 | |||
Metals & Mining - 1.6% | |||
Nucor Corp. | 104,009 | 17,415,267 | |
Reliance Steel & Aluminum Co. | 10,411 | 2,580,262 | |
Steel Dynamics, Inc. | 67,526 | 8,515,704 | |
United States Steel Corp. | 3,660 | 112,106 | |
28,623,339 | |||
Paper & Forest Products - 0.0% | |||
Louisiana-Pacific Corp. | 13,111 | 767,125 | |
TOTAL MATERIALS | 110,436,805 | ||
REAL ESTATE - 6.5% | |||
Equity Real Estate Investment Trusts (REITs) - 6.0% | |||
American Homes 4 Rent Class A | 221,824 | 6,880,980 | |
Apartment Income (REIT) Corp. | 24,204 | 914,911 | |
AvalonBay Communities, Inc. | 8,406 | 1,450,203 | |
Brixmor Property Group, Inc. | 216,511 | 4,901,809 | |
CubeSmart | 63,094 | 2,964,787 | |
Douglas Emmett, Inc. | 231,096 | 3,265,386 | |
Equity Residential (SBI) | 39,173 | 2,449,096 | |
Gaming & Leisure Properties | 121,040 | 6,521,635 | |
Highwoods Properties, Inc. (SBI) | 129,564 | 3,433,446 | |
Hudson Pacific Properties, Inc. | 108,845 | 1,004,639 | |
Invitation Homes, Inc. | 88,912 | 2,779,389 | |
Iron Mountain, Inc. | 19,329 | 1,019,605 | |
Kilroy Realty Corp. | 82,463 | 2,970,317 | |
Life Storage, Inc. | 19,542 | 2,355,202 | |
National Retail Properties, Inc. | 229,533 | 10,402,436 | |
National Storage Affiliates Trust | 212,359 | 8,982,786 | |
Park Hotels & Resorts, Inc. | 279,450 | 3,842,438 | |
Public Storage | 30,679 | 9,171,487 | |
Regency Centers Corp. | 144,024 | 9,059,110 | |
SBA Communications Corp. Class A | 32,498 | 8,428,356 | |
Simon Property Group, Inc. | 31,519 | 3,848,155 | |
Spirit Realty Capital, Inc. | 97,925 | 4,032,552 | |
Ventas, Inc. | 161,496 | 7,856,780 | |
108,535,505 | |||
Real Estate Management & Development - 0.5% | |||
Zillow Group, Inc.: | |||
Class A (a) | 79,234 | 3,276,326 | |
Class C (a) | 146,778 | 6,164,676 | |
9,441,002 | |||
TOTAL REAL ESTATE | 117,976,507 | ||
UTILITIES - 4.1% | |||
Electric Utilities - 1.1% | |||
Constellation Energy Corp. | 54,456 | 4,078,210 | |
Evergy, Inc. | 9,357 | 550,285 | |
FirstEnergy Corp. | 203,014 | 8,027,174 | |
Hawaiian Electric Industries, Inc. | 175,217 | 7,087,528 | |
Xcel Energy, Inc. | 12,786 | 825,592 | |
20,568,789 | |||
Gas Utilities - 0.4% | |||
National Fuel Gas Co. | 77,299 | 4,427,687 | |
UGI Corp. | 57,587 | 2,143,964 | |
6,571,651 | |||
Independent Power and Renewable Electricity Producers - 0.9% | |||
Brookfield Renewable Corp. | 56,292 | 1,567,732 | |
Clearway Energy, Inc. Class C | 98,020 | 3,078,808 | |
The AES Corp. | 371,426 | 9,166,794 | |
Vistra Corp. | 141,665 | 3,115,213 | |
16,928,547 | |||
Multi-Utilities - 1.6% | |||
CenterPoint Energy, Inc. | 13,040 | 362,773 | |
Consolidated Edison, Inc. | 112,816 | 10,080,110 | |
DTE Energy Co. | 12,711 | 1,394,524 | |
NiSource, Inc. | 160,210 | 4,394,560 | |
WEC Energy Group, Inc. | 137,612 | 12,200,680 | |
28,432,647 | |||
Water Utilities - 0.1% | |||
American Water Works Co., Inc. | 16,099 | 2,259,978 | |
TOTAL UTILITIES | 74,761,612 | ||
TOTAL COMMON STOCKS (Cost $1,606,739,528) | 1,792,316,900 | ||
Money Market Funds - 2.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.63% (d) | 20,878,352 | 20,882,528 | |
Fidelity Securities Lending Cash Central Fund 4.63% (d)(e) | 25,280,241 | 25,282,769 | |
TOTAL MONEY MARKET FUNDS (Cost $46,165,297) | 46,165,297 | ||
TOTAL INVESTMENT IN SECURITIES - 101.0% (Cost $1,652,904,825) | 1,838,482,197 |
NET OTHER ASSETS (LIABILITIES) - (1.0)% | (17,916,021) |
NET ASSETS - 100.0% | 1,820,566,176 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P MidCap 400 Index Contracts (United States) | 83 | Mar 2023 | 21,606,560 | 880,941 | 880,941 |
The notional amount of futures purchased as a percentage of Net Assets is 1.2% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | 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. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.63% | 21,467,918 | 175,729,626 | 176,315,016 | 483,480 | - | - | 20,882,528 | 0.0% |
Fidelity Securities Lending Cash Central Fund 4.63% | 41,395,337 | 95,764,821 | 111,877,389 | 87,041 | - | - | 25,282,769 | 0.1% |
Total | 62,863,255 | 271,494,447 | 288,192,405 | 570,521 | - | - | 46,165,297 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 33,411,876 | 33,411,876 | - | - |
Consumer Discretionary | 249,948,734 | 249,948,734 | - | - |
Consumer Staples | 47,681,744 | 47,681,744 | - | - |
Energy | 97,086,442 | 97,086,442 | - | - |
Financials | 229,352,550 | 229,352,550 | - | - |
Health Care | 191,191,773 | 191,188,418 | - | 3,355 |
Industrials | 322,754,217 | 322,754,217 | - | - |
Information Technology | 317,714,640 | 317,714,640 | - | - |
Materials | 110,436,805 | 110,436,805 | - | - |
Real Estate | 117,976,507 | 117,976,507 | - | - |
Utilities | 74,761,612 | 74,761,612 | - | - |
Money Market Funds | 46,165,297 | 46,165,297 | - | - |
Total Investments in Securities: | 1,838,482,197 | 1,838,478,842 | - | 3,355 |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 880,941 | 880,941 | - | - |
Total Assets | 880,941 | 880,941 | - | - |
Total Derivative Instruments: | 880,941 | 880,941 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 880,941 | 0 |
Total Equity Risk | 880,941 | 0 |
Total Value of Derivatives | 880,941 | 0 |
Statement of Assets and Liabilities | ||||
February 28, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $24,891,212) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,606,739,528) | $ | 1,792,316,900 | ||
Fidelity Central Funds (cost $46,165,297) | 46,165,297 | |||
Total Investment in Securities (cost $1,652,904,825) | $ | 1,838,482,197 | ||
Segregated cash with brokers for derivative instruments | 1,066,500 | |||
Receivable for investments sold | 20,828,333 | |||
Receivable for fund shares sold | 781,527 | |||
Dividends receivable | 2,079,058 | |||
Distributions receivable from Fidelity Central Funds | 94,092 | |||
Total assets | 1,863,331,707 | |||
Liabilities | ||||
Payable for investments purchased | $ | 15,951,855 | ||
Payable for fund shares redeemed | 787,380 | |||
Accrued management fee | 697,942 | |||
Payable for daily variation margin on futures contracts | 44,498 | |||
Collateral on securities loaned | 25,283,856 | |||
Total Liabilities | 42,765,531 | |||
Net Assets | $ | 1,820,566,176 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,672,862,470 | ||
Total accumulated earnings (loss) | 147,703,706 | |||
Net Assets | $ | 1,820,566,176 | ||
Net Asset Value , offering price and redemption price per share ($1,820,566,176 ÷ 111,592,579 shares) | $ | 16.31 |
Statement of Operations | ||||
Six months ended February 28, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 12,624,972 | ||
Interest | 23,171 | |||
Income from Fidelity Central Funds (including $87,041 from security lending) | 570,521 | |||
Total Income | 13,218,664 | |||
Expenses | ||||
Management fee | $ | 3,880,217 | ||
Independent trustees' fees and expenses | 3,077 | |||
Total expenses before reductions | 3,883,294 | |||
Expense reductions | (514) | |||
Total expenses after reductions | 3,882,780 | |||
Net Investment income (loss) | 9,335,884 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (33,530,131) | |||
Futures contracts | 2,468,272 | |||
Total net realized gain (loss) | (31,061,859) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 122,584,338 | |||
Futures contracts | (243,980) | |||
Total change in net unrealized appreciation (depreciation) | 122,340,358 | |||
Net gain (loss) | 91,278,499 | |||
Net increase (decrease) in net assets resulting from operations | $ | 100,614,383 |
Statement of Changes in Net Assets | ||||
Six months ended February 28, 2023 (Unaudited) | Year ended August 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 9,335,884 | $ | 19,011,742 |
Net realized gain (loss) | (31,061,859) | 101,845,182 | ||
Change in net unrealized appreciation (depreciation) | 122,340,358 | (369,508,755) | ||
Net increase (decrease) in net assets resulting from operations | 100,614,383 | (248,651,831) | ||
Distributions to shareholders | (57,460,804) | (258,245,278) | ||
Share transactions | ||||
Proceeds from sales of shares | 197,841,284 | 330,859,667 | ||
Reinvestment of distributions | 54,197,269 | 243,001,334 | ||
Cost of shares redeemed | (129,488,167) | (454,449,105) | ||
Net increase (decrease) in net assets resulting from share transactions | 122,550,386 | 119,411,896 | ||
Total increase (decrease) in net assets | 165,703,965 | (387,485,213) | ||
Net Assets | ||||
Beginning of period | 1,654,862,211 | 2,042,347,424 | ||
End of period | $ | 1,820,566,176 | $ | 1,654,862,211 |
Other Information | ||||
Shares | ||||
Sold | 12,254,989 | 17,822,532 | ||
Issued in reinvestment of distributions | 3,496,598 | 13,560,343 | ||
Redeemed | (8,117,565) | (25,723,746) | ||
Net increase (decrease) | 7,634,022 | 5,659,129 | ||
Fidelity® Mid Cap Enhanced Index Fund |
Six months ended (Unaudited) February 28, 2023 | Years ended August 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.92 | $ | 20.78 | $ | 15.16 | $ | 14.59 | $ | 16.42 | $ | 14.93 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 | .18 | .14 | .19 | .21 | .26 | ||||||
Net realized and unrealized gain (loss) | .83 | (2.46) | 6.07 | .97 | (.71) | 2.17 | ||||||
Total from investment operations | .92 | (2.28) | 6.21 | 1.16 | (.50) | 2.43 | ||||||
Distributions from net investment income | (.15) | (.15) C | (.16) | (.22) | (.25) | (.21) | ||||||
Distributions from net realized gain | (.37) | (2.43) C | (.43) | (.38) | (1.09) | (.73) | ||||||
Total distributions | (.53) D | (2.58) | (.59) | (.59) D | (1.33) D | (.94) | ||||||
Net asset value, end of period | $ | 16.31 | $ | 15.92 | $ | 20.78 | $ | 15.16 | $ | 14.59 | $ | 16.42 |
Total Return E,F | 5.92% | (12.36)% | 41.82% | 7.91% | (2.19)% | 16.67% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .45% I | .51% | .59% | .59% | .59% | .59% | ||||||
Expenses net of fee waivers, if any | .45% I | .51% | .59% | .59% | .59% | .59% | ||||||
Expenses net of all reductions | .45% I | .51% | .59% | .59% | .59% | .59% | ||||||
Net investment income (loss) | 1.08% I | 1.00% | .77% | 1.33% | 1.46% | 1.64% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,820,566 | $ | 1,654,862 | $ | 2,042,347 | $ | 1,182,253 | $ | 1,263,319 | $ | 1,289,418 |
Portfolio turnover rate J | 101% I | 116% | 70% | 73% | 90% | 108% |
Top Holdings (% of Fund's net assets) | ||
LVMH Moet Hennessy Louis Vuitton SE (France, Textiles, Apparel & Luxury Goods) | 2.0 | |
ASML Holding NV (Netherlands) (Netherlands, Semiconductors & Semiconductor Equipment) | 1.9 | |
Novo Nordisk A/S Series B (Denmark, Pharmaceuticals) | 1.8 | |
Novartis AG (Switzerland, Pharmaceuticals) | 1.6 | |
Shell PLC (London) (United Kingdom, Oil, Gas & Consumable Fuels) | 1.6 | |
Nestle SA (Reg. S) (Switzerland, Food Products) | 1.6 | |
TotalEnergies SE (France, Oil, Gas & Consumable Fuels) | 1.4 | |
BHP Group Ltd. (Australia, Metals & Mining) | 1.2 | |
L'Oreal SA (France, Personal Products) | 1.2 | |
Siemens AG (Germany, Industrial Conglomerates) | 1.0 | |
15.3 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 17.2 | |
Industrials | 17.0 | |
Consumer Discretionary | 13.6 | |
Health Care | 11.3 | |
Information Technology | 9.0 | |
Consumer Staples | 8.4 | |
Materials | 8.0 | |
Energy | 5.1 | |
Communication Services | 4.0 | |
Utilities | 2.9 | |
Real Estate | 1.9 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 98.4% |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are based on country or territory of incorporation and are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 98.3% | |||
Shares | Value ($) | ||
Australia - 7.6% | |||
ANZ Group Holdings Ltd. | 688,986 | 11,396,849 | |
APA Group unit | 550,236 | 3,972,823 | |
Aristocrat Leisure Ltd. | 220,673 | 5,425,856 | |
Aurizon Holdings Ltd. | 855,005 | 1,904,352 | |
BHP Group Ltd. | 604,027 | 18,371,530 | |
BHP Group Ltd. sponsored ADR | 33,761 | 2,058,408 | |
Commonwealth Bank of Australia | 65,811 | 4,458,978 | |
Computershare Ltd. | 399,115 | 6,660,399 | |
CSL Ltd. | 13,468 | 2,685,253 | |
Dexus unit | 86,963 | 493,302 | |
Fortescue Metals Group Ltd. | 237,075 | 3,413,894 | |
Macquarie Group Ltd. | 49,560 | 6,320,288 | |
Medibank Private Ltd. | 877,617 | 1,972,432 | |
Mineral Resources Ltd. | 23,924 | 1,329,089 | |
National Australia Bank Ltd. | 101,967 | 2,052,421 | |
Pilbara Minerals Ltd. | 990,676 | 2,779,830 | |
Qantas Airways Ltd. (a) | 1,272,685 | 5,498,022 | |
Rio Tinto Ltd. | 111,091 | 8,725,933 | |
Santos Ltd. | 166,574 | 777,802 | |
Scentre Group unit | 1,960,292 | 3,930,860 | |
Stockland Corp. Ltd. unit | 582,853 | 1,506,055 | |
Suncorp Group Ltd. | 362,632 | 3,135,594 | |
Telstra Group Ltd. | 2,908,541 | 8,141,774 | |
Transurban Group unit | 130,937 | 1,249,364 | |
Wesfarmers Ltd. | 159,624 | 5,181,506 | |
Westpac Banking Corp. | 36,722 | 556,722 | |
WiseTech Global Ltd. | 3,994 | 169,316 | |
TOTAL AUSTRALIA | 114,168,652 | ||
Austria - 0.2% | |||
Erste Group Bank AG | 37,840 | 1,488,069 | |
OMV AG | 18,021 | 878,894 | |
Raiffeisen International Bank-Holding AG (a) | 46,031 | 769,254 | |
Voestalpine AG | 6,678 | 247,357 | |
TOTAL AUSTRIA | 3,383,574 | ||
Belgium - 1.0% | |||
Ageas | 81,797 | 3,696,858 | |
D'ieteren Group | 19,043 | 3,696,017 | |
ELIA GROUP SA/NV | 11,919 | 1,573,319 | |
Solvay SA Class A | 52,468 | 6,007,377 | |
Umicore SA | 15,653 | 522,679 | |
TOTAL BELGIUM | 15,496,250 | ||
Bermuda - 0.5% | |||
Jardine Matheson Holdings Ltd. | 136,700 | 6,769,384 | |
Cayman Islands - 1.5% | |||
ASMPT Ltd. | 305,400 | 2,602,907 | |
CK Asset Holdings Ltd. | 298,328 | 1,869,918 | |
CK Hutchison Holdings Ltd. | 1,401,500 | 8,368,710 | |
Grab Holdings Ltd. (a)(b) | 1,005,817 | 3,228,673 | |
SITC International Holdings Co. Ltd. | 338,000 | 706,194 | |
WH Group Ltd. (c) | 6,204,455 | 3,610,552 | |
Xinyi Glass Holdings Ltd. | 960,000 | 1,792,952 | |
TOTAL CAYMAN ISLANDS | 22,179,906 | ||
Denmark - 3.3% | |||
A.P. Moller - Maersk A/S: | |||
Series A | 1,284 | 2,941,301 | |
Series B | 1,086 | 2,529,672 | |
Carlsberg A/S Series B | 13,682 | 1,933,417 | |
Danske Bank A/S | 46,634 | 1,083,171 | |
Genmab A/S (a) | 25,770 | 9,695,938 | |
Novo Nordisk A/S: | |||
Series B | 189,396 | 26,753,184 | |
Series B sponsored ADR | 27,913 | 3,935,454 | |
Novozymes A/S Series B | 26,926 | 1,297,888 | |
TOTAL DENMARK | 50,170,025 | ||
Finland - 1.8% | |||
Elisa Corp. (A Shares) | 87,811 | 4,989,390 | |
Fortum Corp. | 116,532 | 1,782,280 | |
Kesko Oyj | 237,469 | 5,166,587 | |
Kone OYJ (B Shares) | 72,580 | 3,773,141 | |
Nordea Bank ABP | 637,571 | 8,078,660 | |
Sampo Oyj (A Shares) | 34,274 | 1,669,024 | |
Stora Enso Oyj (R Shares) | 47,726 | 676,177 | |
Wartsila Corp. | 31,591 | 305,937 | |
TOTAL FINLAND | 26,441,196 | ||
France - 12.5% | |||
Air Liquide SA | 3,504 | 556,703 | |
Arkema SA | 4,775 | 485,658 | |
AXA SA | 179,180 | 5,646,229 | |
bioMerieux SA | 3,381 | 331,646 | |
BNP Paribas SA | 33,291 | 2,327,413 | |
Compagnie de St. Gobain | 75,309 | 4,475,064 | |
Danone SA | 15,178 | 853,191 | |
Edenred SA | 134,857 | 7,605,471 | |
Eiffage SA | 56,507 | 6,215,815 | |
Engie SA | 670,507 | 9,784,961 | |
EssilorLuxottica SA | 3,264 | 567,564 | |
Gecina SA | 20,360 | 2,349,444 | |
Getlink SE | 260,464 | 4,387,222 | |
Hermes International SCA | 7,546 | 13,692,099 | |
Kering SA | 11,133 | 6,527,514 | |
Klepierre SA | 149,564 | 3,744,448 | |
L'Oreal SA | 43,896 | 17,350,901 | |
La Francaise des Jeux SAEM (c) | 96,618 | 3,820,991 | |
Legrand SA | 18,568 | 1,715,074 | |
LVMH Moet Hennessy Louis Vuitton SE | 35,783 | 29,747,377 | |
Orange SA | 290,558 | 3,317,098 | |
Orange SA ADR | 55,037 | 631,825 | |
Pernod Ricard SA | 14,686 | 3,070,950 | |
Publicis Groupe SA | 34,908 | 2,778,026 | |
Safran SA | 89,685 | 12,663,655 | |
Sanofi SA | 38,359 | 3,586,503 | |
Schneider Electric SA | 3,904 | 626,425 | |
Societe Generale Series A | 128,073 | 3,691,009 | |
Teleperformance | 6,701 | 1,743,561 | |
Thales SA | 10,674 | 1,492,523 | |
TotalEnergies SE | 334,226 | 20,623,156 | |
Ubisoft Entertainment SA (a) | 72,177 | 1,582,483 | |
VINCI SA | 73,881 | 8,427,042 | |
Wendel SA | 6,516 | 740,887 | |
TOTAL FRANCE | 187,159,928 | ||
Germany - 8.2% | |||
Allianz SE | 39,009 | 9,159,839 | |
Brenntag SE | 14,545 | 1,098,435 | |
Commerzbank AG (a) | 64,600 | 787,474 | |
Deutsche Bank AG | 541,268 | 6,755,490 | |
Deutsche Borse AG | 61,116 | 10,657,044 | |
Deutsche Lufthansa AG (a) | 848,649 | 8,816,385 | |
Evonik Industries AG | 56,175 | 1,201,992 | |
GEA Group AG | 24,578 | 1,081,960 | |
Hannover Reuck SE | 1,354 | 263,082 | |
Henkel AG & Co. KGaA | 11,050 | 764,052 | |
Infineon Technologies AG | 333,183 | 11,786,822 | |
Knorr-Bremse AG | 38,057 | 2,586,542 | |
Mercedes-Benz Group AG: | |||
ADR | 50,266 | 964,605 | |
(Germany) | 175,916 | 13,482,689 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 25,186 | 8,687,054 | |
Nemetschek SE | 42,024 | 2,386,011 | |
Rational AG | 1,024 | 680,177 | |
RWE AG | 236,325 | 10,058,429 | |
SAP SE | 35,914 | 4,080,225 | |
Scout24 AG (c) | 16,030 | 880,300 | |
Siemens AG | 102,155 | 15,567,600 | |
Siemens AG sponsored ADR | 36,490 | 2,789,296 | |
Siemens Energy AG (b) | 211,293 | 4,239,503 | |
Telefonica Deutschland Holding AG | 1,198,201 | 3,638,525 | |
TOTAL GERMANY | 122,413,531 | ||
Hong Kong - 1.3% | |||
AIA Group Ltd. | 451,632 | 4,799,953 | |
BOC Hong Kong (Holdings) Ltd. | 2,597,500 | 8,785,847 | |
Hong Kong Exchanges and Clearing Ltd. | 75,900 | 3,039,997 | |
Link (REIT) | 141,200 | 928,214 | |
Link (REIT) rights (a) | 28,240 | 26,623 | |
New World Development Co. Ltd. | 240,000 | 652,789 | |
Swire Pacific Ltd. (A Shares) | 108,500 | 884,654 | |
TOTAL HONG KONG | 19,118,077 | ||
Ireland - 0.0% | |||
CRH PLC sponsored ADR | 15,631 | 739,503 | |
Israel - 0.6% | |||
Bank Hapoalim BM (Reg.) | 84,028 | 703,338 | |
Check Point Software Technologies Ltd. (a) | 7,689 | 951,283 | |
CyberArk Software Ltd. (a) | 18,671 | 2,703,001 | |
Wix.com Ltd. (a) | 56,688 | 5,131,965 | |
TOTAL ISRAEL | 9,489,587 | ||
Italy - 1.1% | |||
Assicurazioni Generali SpA | 93,044 | 1,841,300 | |
Eni SpA | 130,988 | 1,850,079 | |
Intesa Sanpaolo SpA | 784,676 | 2,119,633 | |
Poste Italiane SpA (c) | 450,811 | 4,863,593 | |
UniCredit SpA | 269,985 | 5,523,500 | |
TOTAL ITALY | 16,198,105 | ||
Japan - 21.6% | |||
Advantest Corp. | 7,700 | 611,340 | |
AEON Co. Ltd. | 137,700 | 2,568,822 | |
Ajinomoto Co., Inc. | 261,000 | 7,702,236 | |
Amada Co. Ltd. | 229,100 | 2,084,792 | |
ASAHI INTECC Co. Ltd. | 71,800 | 1,223,429 | |
Astellas Pharma, Inc. | 154,025 | 2,162,909 | |
Chubu Electric Power Co., Inc. | 25,100 | 260,300 | |
Concordia Financial Group Ltd. | 221,400 | 951,261 | |
Dai Nippon Printing Co. Ltd. | 380 | 10,187 | |
Daifuku Co. Ltd. | 34,500 | 1,882,670 | |
Daiichi Sankyo Kabushiki Kaisha | 410,900 | 12,941,845 | |
Dentsu Group, Inc. | 130,000 | 4,172,451 | |
Fast Retailing Co. Ltd. | 26,400 | 5,215,820 | |
GLP J-REIT | 795 | 835,551 | |
Hamamatsu Photonics K.K. | 151,200 | 7,418,134 | |
Hikari Tsushin, Inc. | 4,300 | 624,369 | |
Hirose Electric Co. Ltd. | 26,100 | 3,191,693 | |
Hitachi Construction Machinery Co. Ltd. | 70,400 | 1,574,441 | |
Hitachi Ltd. | 197,800 | 10,009,489 | |
Honda Motor Co. Ltd. | 121,200 | 3,151,585 | |
Hoya Corp. | 102,484 | 10,138,882 | |
Ibiden Co. Ltd. | 123,800 | 4,250,780 | |
Idemitsu Kosan Co. Ltd. | 63,200 | 1,408,777 | |
Itochu Corp. | 97,800 | 2,922,759 | |
Japan Post Bank Co. Ltd. (b) | 764,500 | 6,603,151 | |
Japan Post Holdings Co. Ltd. | 874,977 | 7,775,860 | |
Kamigumi Co. Ltd. | 63,700 | 1,260,386 | |
Keyence Corp. | 1,200 | 519,026 | |
Kikkoman Corp. | 7,000 | 327,494 | |
Kintetsu Group Holdings Co. Ltd. | 103,400 | 3,132,643 | |
Lawson, Inc. | 78,000 | 3,070,618 | |
Marubeni Corp. | 215,150 | 2,749,521 | |
Mazda Motor Corp. | 508,900 | 4,553,153 | |
Minebea Mitsumi, Inc. | 43,100 | 747,693 | |
Mitsubishi Chemical Holdings Corp. | 827,600 | 4,820,145 | |
Mitsubishi Corp. | 275,600 | 9,369,853 | |
Mitsubishi Electric Corp. | 240,458 | 2,702,079 | |
Mitsubishi Heavy Industries Ltd. | 39,200 | 1,443,854 | |
Mitsubishi UFJ Financial Group, Inc. | 335,200 | 2,376,398 | |
Mitsui & Co. Ltd. | 401,900 | 11,287,618 | |
Mitsui Chemicals, Inc. | 21,700 | 523,554 | |
NGK Insulators Ltd. | 116,900 | 1,552,313 | |
Nintendo Co. Ltd. | 181,800 | 6,806,061 | |
Nippon Express Holdings, Inc. | 76,200 | 4,253,388 | |
Nippon Steel & Sumitomo Metal Corp. | 162,000 | 3,613,485 | |
Nippon Telegraph & Telephone Corp. | 69,500 | 2,013,889 | |
Nissan Chemical Corp. | 34,700 | 1,524,042 | |
Nissan Motor Co. Ltd. sponsored ADR (b) | 87,636 | 685,314 | |
Nitto Denko Corp. | 100,200 | 6,034,593 | |
OBIC Co. Ltd. | 19,900 | 2,914,370 | |
Olympus Corp. | 459,900 | 7,748,600 | |
Ono Pharmaceutical Co. Ltd. | 123,800 | 2,527,737 | |
Open House Group Co. Ltd. | 19,700 | 708,971 | |
Oracle Corp. Japan | 50,400 | 3,435,144 | |
Panasonic Holdings Corp. | 124,800 | 1,089,757 | |
Recruit Holdings Co. Ltd. | 347,400 | 9,315,821 | |
Renesas Electronics Corp. (a) | 768,900 | 9,932,263 | |
Ricoh Co. Ltd. | 545,200 | 4,236,507 | |
ROHM Co. Ltd. | 2,500 | 192,428 | |
SCSK Corp. | 36,400 | 528,001 | |
Seiko Epson Corp. | 158,500 | 2,185,043 | |
Shin-Etsu Chemical Co. Ltd. | 89,300 | 12,379,763 | |
Shin-Etsu Chemical Co. Ltd. ADR | 12,090 | 418,314 | |
Shionogi & Co. Ltd. | 78,300 | 3,468,849 | |
Shiseido Co. Ltd. | 49,700 | 2,289,073 | |
Shizuoka Financial Group | 219,800 | 1,756,398 | |
SMC Corp. | 8,500 | 4,320,604 | |
SoftBank Corp. | 943,600 | 10,644,725 | |
Sony Group Corp. | 148,600 | 12,425,409 | |
Subaru Corp. | 127,400 | 2,046,840 | |
Sumco Corp. | 8,800 | 121,444 | |
Sumitomo Chemical Co. Ltd. | 1,551,200 | 5,434,412 | |
Sumitomo Corp. | 355,300 | 6,061,929 | |
Sysmex Corp. | 30,300 | 1,816,153 | |
Takeda Pharmaceutical Co. Ltd. | 190,200 | 5,862,782 | |
Takeda Pharmaceutical Co. Ltd. ADR | 69,120 | 1,060,992 | |
TDK Corp. | 47,300 | 1,584,136 | |
Tobu Railway Co. Ltd. | 42,100 | 939,988 | |
Tokio Marine Holdings, Inc. | 337,500 | 7,164,950 | |
Toyota Motor Corp. | 507,295 | 6,914,217 | |
Toyota Tsusho Corp. | 77,400 | 3,160,692 | |
USS Co. Ltd. | 82,100 | 1,332,003 | |
Yokogawa Electric Corp. | 89,200 | 1,332,546 | |
Z Holdings Corp. | 1,551,400 | 4,164,966 | |
ZOZO, Inc. | 202,200 | 4,494,032 | |
TOTAL JAPAN | 323,070,512 | ||
Luxembourg - 0.6% | |||
Aroundtown SA | 347,948 | 902,396 | |
Eurofins Scientific SA | 51,364 | 3,585,628 | |
Tenaris SA | 160,529 | 2,641,047 | |
Tenaris SA sponsored ADR | 70,518 | 2,327,799 | |
TOTAL LUXEMBOURG | 9,456,870 | ||
Netherlands - 5.9% | |||
Airbus Group NV | 5,650 | 739,984 | |
ASML Holding NV | 5,583 | 3,448,787 | |
ASML Holding NV (Netherlands) | 46,383 | 28,588,467 | |
CNH Industrial NV | 37,820 | 621,034 | |
Ferrari NV (Italy) | 7,191 | 1,865,732 | |
Heineken Holding NV | 31,981 | 2,738,239 | |
ING Groep NV (Certificaten Van Aandelen) | 63,155 | 883,862 | |
Koninklijke Ahold Delhaize NV | 208,712 | 6,627,003 | |
Koninklijke Philips Electronics NV | 304,254 | 4,967,491 | |
NN Group NV | 76,172 | 3,085,721 | |
OCI NV | 117,530 | 3,903,381 | |
Prosus NV | 89,526 | 6,418,050 | |
QIAGEN NV (Germany) (a) | 33,027 | 1,521,667 | |
Stellantis NV (Italy) | 400,717 | 7,016,220 | |
STMicroelectronics NV (France) | 190,758 | 9,137,615 | |
Wolters Kluwer NV | 54,125 | 6,265,795 | |
TOTAL NETHERLANDS | 87,829,048 | ||
New Zealand - 0.1% | |||
Meridian Energy Ltd. | 582,070 | 1,911,037 | |
Spark New Zealand Ltd. | 76,182 | 235,517 | |
TOTAL NEW ZEALAND | 2,146,554 | ||
Norway - 0.4% | |||
DNB Bank ASA | 160,586 | 3,204,529 | |
Equinor ASA | 9,441 | 289,021 | |
Gjensidige Forsikring ASA | 182,374 | 3,238,364 | |
TOTAL NORWAY | 6,731,914 | ||
Singapore - 1.2% | |||
Oversea-Chinese Banking Corp. Ltd. | 776,600 | 7,296,913 | |
Singapore Exchange Ltd. | 91,900 | 593,607 | |
United Overseas Bank Ltd. | 445,555 | 9,876,011 | |
TOTAL SINGAPORE | 17,766,531 | ||
Spain - 2.8% | |||
ACS Actividades de Construccion y Servicios SA | 154,097 | 4,671,247 | |
Amadeus IT Holding SA Class A (a) | 105,528 | 6,635,907 | |
Banco Bilbao Vizcaya Argentaria SA | 963,928 | 7,492,647 | |
Banco Santander SA (Spain) | 940,157 | 3,701,781 | |
Iberdrola SA | 387,978 | 4,447,560 | |
Industria de Diseno Textil SA | 375,256 | 11,560,424 | |
Naturgy Energy Group SA | 17,587 | 484,762 | |
Red Electrica Corporacion SA | 146,458 | 2,433,615 | |
TOTAL SPAIN | 41,427,943 | ||
Sweden - 3.0% | |||
Atlas Copco AB: | |||
(A Shares) | 236,955 | 2,813,183 | |
(B Shares) | 127,166 | 1,343,820 | |
Epiroc AB (A Shares) | 87,812 | 1,687,560 | |
Evolution AB (c) | 58,777 | 7,111,860 | |
Fastighets AB Balder (a) | 921,387 | 4,578,769 | |
Industrivarden AB (A Shares) | 75,820 | 2,087,440 | |
Indutrade AB | 25,533 | 543,930 | |
Kinnevik AB (B Shares) (a) | 222,883 | 3,324,721 | |
Sagax AB | 28,311 | 698,039 | |
Securitas AB (B Shares) | 168,300 | 1,453,091 | |
Skandinaviska Enskilda Banken AB (A Shares) | 123,335 | 1,544,044 | |
Svenska Handelsbanken AB (A Shares) | 473,957 | 5,027,246 | |
Swedbank AB (A Shares) | 113,750 | 2,323,247 | |
Swedish Orphan Biovitrum AB (a) | 152,844 | 3,520,318 | |
Volvo AB (B Shares) | 351,549 | 7,045,757 | |
TOTAL SWEDEN | 45,103,025 | ||
Switzerland - 8.3% | |||
ABB Ltd.: | |||
(Reg.) | 273,056 | 9,086,505 | |
sponsored ADR (b) | 34,931 | 1,163,202 | |
Baloise Holdings AG | 2,346 | 389,817 | |
Banque Cantonale Vaudoise | 3,586 | 319,631 | |
Coca-Cola HBC AG | 16,416 | 419,997 | |
Compagnie Financiere Richemont SA: | |||
(depositary receipt) | 86,458 | 1,311,111 | |
Series A | 94,740 | 14,314,868 | |
Givaudan SA | 834 | 2,515,681 | |
Holcim AG | 190,001 | 11,728,681 | |
Nestle SA (Reg. S) | 205,690 | 23,175,225 | |
Novartis AG | 284,967 | 23,982,858 | |
Partners Group Holding AG | 2,240 | 2,125,247 | |
Roche Holding AG: | |||
(Bearer) (b) | 6,162 | 1,905,159 | |
(participation certificate) | 40,454 | 11,664,465 | |
Swatch Group AG (Bearer) | 1,842 | 639,913 | |
Swatch Group AG (Bearer) (Reg.) | 6,816 | 435,295 | |
Swiss Life Holding AG | 14,272 | 8,579,717 | |
Swiss Prime Site AG | 11,659 | 984,117 | |
UBS Group AG | 274,806 | 5,966,749 | |
VAT Group AG (c) | 557 | 168,191 | |
Zurich Insurance Group Ltd. | 6,178 | 2,930,555 | |
TOTAL SWITZERLAND | 123,806,984 | ||
United Kingdom - 14.8% | |||
3i Group PLC | 64,861 | 1,268,957 | |
Admiral Group PLC | 72,320 | 1,914,652 | |
Anglo American PLC (United Kingdom) | 168,656 | 5,827,863 | |
Ashtead Group PLC | 11,679 | 774,049 | |
AstraZeneca PLC (United Kingdom) | 95,362 | 12,423,579 | |
BAE Systems PLC | 954,035 | 10,303,772 | |
Barclays PLC | 1,004,944 | 2,108,964 | |
BP PLC | 2,155,144 | 14,162,599 | |
BP PLC sponsored ADR | 135,012 | 5,346,475 | |
British American Tobacco PLC (United Kingdom) | 169,594 | 6,418,420 | |
Bunzl PLC | 72,634 | 2,589,582 | |
Burberry Group PLC | 222,482 | 6,606,507 | |
Compass Group PLC | 306,133 | 7,072,226 | |
Diageo PLC | 48,246 | 2,047,390 | |
Direct Line Insurance Group PLC | 707,464 | 1,534,730 | |
GSK PLC | 471,455 | 8,076,458 | |
GSK PLC sponsored ADR | 174,486 | 5,979,635 | |
Hargreaves Lansdown PLC | 32,044 | 319,762 | |
HSBC Holdings PLC: | |||
(United Kingdom) | 1,211,593 | 9,280,860 | |
sponsored ADR | 194,018 | 7,432,830 | |
Imperial Brands PLC | 283,609 | 6,832,504 | |
InterContinental Hotel Group PLC | 87,413 | 5,892,623 | |
InterContinental Hotel Group PLC ADR | 51,032 | 3,514,064 | |
Legal & General Group PLC | 412,935 | 1,271,052 | |
Lloyds Banking Group PLC | 7,105,944 | 4,487,622 | |
Pearson PLC | 161,169 | 1,782,799 | |
Persimmon PLC | 38,484 | 672,369 | |
Reckitt Benckiser Group PLC | 169,114 | 11,733,978 | |
Reckitt Benckiser Group PLC ADR (b) | 13,198 | 186,488 | |
Rio Tinto PLC | 127,322 | 8,737,416 | |
Rio Tinto PLC sponsored ADR | 85,153 | 5,937,719 | |
Sage Group PLC | 385,598 | 3,472,131 | |
Schroders PLC | 838,519 | 5,016,839 | |
Shell PLC: | |||
ADR | 11,015 | 669,382 | |
(London) | 772,727 | 23,404,650 | |
rights (a)(d) | 772,727 | 222,159 | |
SSE PLC | 278,571 | 5,830,203 | |
Unilever PLC | 266,000 | 13,243,479 | |
Vodafone Group PLC | 5,873,737 | 7,033,066 | |
TOTAL UNITED KINGDOM | 221,429,853 | ||
TOTAL COMMON STOCKS (Cost $1,306,599,149) | 1,472,496,952 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
Shares | Value ($) | ||
Germany - 0.1% | |||
Henkel AG & Co. KGaA (Cost $1,578,697) | 25,351 | 1,844,244 | |
Money Market Funds - 2.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.63% (e) | 20,021,091 | 20,025,095 | |
Fidelity Securities Lending Cash Central Fund 4.63% (e)(f) | 14,442,855 | 14,444,299 | |
TOTAL MONEY MARKET FUNDS (Cost $34,469,395) | 34,469,394 | ||
TOTAL INVESTMENT IN SECURITIES - 100.7% (Cost $1,342,647,241) | 1,508,810,590 |
NET OTHER ASSETS (LIABILITIES) - (0.7)% | (9,986,164) |
NET ASSETS - 100.0% | 1,498,824,426 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI EAFE Index Contracts (United States) | 187 | Mar 2023 | 19,135,710 | 81,341 | 81,341 |
The notional amount of futures purchased as a percentage of Net Assets is 1.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $20,455,487 or 1.4% of net assets. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.63% | 18,255,010 | 164,141,592 | 162,371,506 | 457,457 | - | (1) | 20,025,095 | 0.0% |
Fidelity Securities Lending Cash Central Fund 4.63% | 5,934,742 | 112,342,261 | 103,832,704 | 58,447 | - | - | 14,444,299 | 0.0% |
Total | 24,189,752 | 276,483,853 | 266,204,210 | 515,904 | - | (1) | 34,469,394 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 61,030,096 | 25,467,808 | 35,562,288 | - |
Consumer Discretionary | 201,994,185 | 65,960,955 | 136,033,230 | - |
Consumer Staples | 123,974,860 | 27,540,504 | 96,434,356 | - |
Energy | 74,601,840 | 10,631,327 | 63,970,513 | - |
Financials | 262,327,137 | 149,273,818 | 113,053,319 | - |
Health Care | 174,134,978 | 48,548,117 | 125,586,861 | - |
Industrials | 249,727,403 | 160,225,153 | 89,502,250 | - |
Information Technology | 137,813,162 | 67,651,863 | 70,161,299 | - |
Materials | 121,813,067 | 94,311,322 | 27,501,745 | - |
Real Estate | 24,385,179 | 24,358,556 | 26,623 | - |
Utilities | 42,539,289 | 22,476,565 | 20,062,724 | - |
Money Market Funds | 34,469,394 | 34,469,394 | - | - |
Total Investments in Securities: | 1,508,810,590 | 730,915,382 | 777,895,208 | - |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 81,341 | 81,341 | - | - |
Total Assets | 81,341 | 81,341 | - | - |
Total Derivative Instruments: | 81,341 | 81,341 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 81,341 | 0 |
Total Equity Risk | 81,341 | 0 |
Total Value of Derivatives | 81,341 | 0 |
Statement of Assets and Liabilities | ||||
February 28, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $13,458,434) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,308,177,846) | $ | 1,474,341,196 | ||
Fidelity Central Funds (cost $34,469,395) | 34,469,394 | |||
Total Investment in Securities (cost $1,342,647,241) | $ | 1,508,810,590 | ||
Segregated cash with brokers for derivative instruments | 631,509 | |||
Cash | 529 | |||
Foreign currency held at value (cost $62,108) | 61,966 | |||
Receivable for investments sold | 2,665 | |||
Receivable for fund shares sold | 469,776 | |||
Dividends receivable | 2,372,825 | |||
Reclaims receivable | 2,721,769 | |||
Distributions receivable from Fidelity Central Funds | 75,512 | |||
Total assets | 1,515,147,141 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 2,664 | ||
Delayed delivery | 222,159 | |||
Payable for fund shares redeemed | 799,451 | |||
Accrued management fee | 700,223 | |||
Payable for daily variation margin on futures contracts | 153,832 | |||
Collateral on securities loaned | 14,444,386 | |||
Total Liabilities | 16,322,715 | |||
Net Assets | $ | 1,498,824,426 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,543,996,814 | ||
Total accumulated earnings (loss) | (45,172,388) | |||
Net Assets | $ | 1,498,824,426 | ||
Net Asset Value , offering price and redemption price per share ($1,498,824,426 ÷ 152,341,555 shares) | $ | 9.84 |
Statement of Operations | ||||
Six months ended February 28, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 13,668,542 | ||
Interest | 22,549 | |||
Income from Fidelity Central Funds (including $58,447 from security lending) | 515,904 | |||
Income before foreign taxes withheld | $ | 14,206,995 | ||
Less foreign taxes withheld | (833,821) | |||
Total Income | 13,373,174 | |||
Expenses | ||||
Management fee | $ | 3,856,603 | ||
Independent trustees' fees and expenses | 2,488 | |||
Interest | 7,068 | |||
Total expenses before reductions | 3,866,159 | |||
Expense reductions | (67) | |||
Total expenses after reductions | 3,866,092 | |||
Net Investment income (loss) | 9,507,082 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (52,681,952) | |||
Foreign currency transactions | (93,121) | |||
Futures contracts | 2,234,963 | |||
Total net realized gain (loss) | (50,540,110) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 212,687,572 | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | 131,898 | |||
Futures contracts | (81,966) | |||
Total change in net unrealized appreciation (depreciation) | 212,737,503 | |||
Net gain (loss) | 162,197,393 | |||
Net increase (decrease) in net assets resulting from operations | $ | 171,704,475 |
Statement of Changes in Net Assets | ||||
Six months ended February 28, 2023 (Unaudited) | Year ended August 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 9,507,082 | $ | 44,150,052 |
Net realized gain (loss) | (50,540,110) | (40,880,584) | ||
Change in net unrealized appreciation (depreciation) | 212,737,503 | (317,751,294) | ||
Net increase (decrease) in net assets resulting from operations | 171,704,475 | (314,481,826) | ||
Distributions to shareholders | (33,763,256) | (40,640,601) | ||
Share transactions | ||||
Proceeds from sales of shares | 360,096,462 | 742,204,628 | ||
Reinvestment of distributions | 24,033,209 | 33,150,295 | ||
Cost of shares redeemed | (328,050,791) | (794,518,975) | ||
Net increase (decrease) in net assets resulting from share transactions | 56,078,880 | (19,164,052) | ||
Total increase (decrease) in net assets | 194,020,099 | (374,286,479) | ||
Net Assets | ||||
Beginning of period | 1,304,804,327 | 1,679,090,806 | ||
End of period | $ | 1,498,824,426 | $ | 1,304,804,327 |
Other Information | ||||
Shares | ||||
Sold | 41,455,732 | 72,917,785 | ||
Issued in reinvestment of distributions | 2,529,811 | 3,024,662 | ||
Redeemed | (37,298,380) | (75,511,518) | ||
Net increase (decrease) | 6,687,163 | 430,929 | ||
Fidelity® International Enhanced Index Fund |
Six months ended (Unaudited) February 28, 2023 | Years ended August 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 8.96 | $ | 11.56 | $ | 9.20 | $ | 8.98 | $ | 9.83 | $ | 9.73 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .06 | .31 | .25 | .19 | .30 | .27 | ||||||
Net realized and unrealized gain (loss) | 1.05 | (2.61) | 2.28 | .32 | (.95) | - C | ||||||
Total from investment operations | 1.11 | (2.30) | 2.53 | .51 | (.65) | .27 | ||||||
Distributions from net investment income | (.23) | (.30) | (.17) | (.29) | (.20) | (.14) D | ||||||
Distributions from net realized gain | - | - | - | - | - | (.03) D | ||||||
Total distributions | (.23) | (.30) | (.17) | (.29) | (.20) | (.17) | ||||||
Redemption fees added to paid in capital A | - | - | - | - | - | - C | ||||||
Net asset value, end of period | $ | 9.84 | $ | 8.96 | $ | 11.56 | $ | 9.20 | $ | 8.98 | $ | 9.83 |
Total Return E,F | 12.43% | (20.35)% | 27.77% | 5.55% | (6.51)% | 2.71% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .55% I | .57% | .59% | .59% | .59% | .59% | ||||||
Expenses net of fee waivers, if any | .55% I | .57% | .59% | .59% | .59% | .59% | ||||||
Expenses net of all reductions | .55% I | .57% | .59% | .59% | .59% | .59% | ||||||
Net investment income (loss) | 1.36% I | 2.99% | 2.32% | 2.13% | 3.27% | 2.69% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,498,824 | $ | 1,304,804 | $ | 1,679,091 | $ | 1,182,923 | $ | 1,505,889 | $ | 1,691,151 |
Portfolio turnover rate J | 103% I | 114% | 82% | 75% | 103% | 66% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Large Cap Growth Enhanced Index Fund | $1,649,068,917 | $554,990,209 | $(54,538,396) | $500,451,813 |
Fidelity Large Cap Value Enhanced Index Fund | 4,891,204,041 | 894,534,433 | (190,252,344) | 704,282,089 |
Fidelity Large Cap Core Enhanced Index Fund | 1,533,725,097 | 389,588,396 | (62,105,181) | 327,483,215 |
Fidelity Mid Cap Enhanced Index Fund | 1,659,225,974 | 268,062,195 | (87,925,031) | 180,137,164 |
Fidelity International Enhanced Index Fund | 1,348,958,168 | 216,360,913 | (56,427,150) | 159,933,763 |
Short-term | Total capital loss carryforward | |
Fidelity International Enhanced Index Fund | $(156,170,818) | $(156,170,818) |
Capital losses | |
Fidelity Large Cap Growth Enhanced Index Fund | $(28,127,700) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Large Cap Growth Enhanced Index Fund | 1,193,913,058 | 726,997,689 |
Fidelity Large Cap Value Enhanced Index Fund | 2,107,534,405 | 2,426,327,035 |
Fidelity Large Cap Core Enhanced Index Fund | 1,016,873,580 | 1,537,249,882 |
Fidelity Mid Cap Enhanced Index Fund | 931,386,684 | 858,136,154 |
Fidelity International Enhanced Index Fund | 740,787,574 | 705,997,839 |
Fidelity Large Cap Growth Enhanced Index Fund | .39% |
Fidelity Large Cap Value Enhanced Index Fund | .39% |
Fidelity Large Cap Core Enhanced Index Fund | .39% |
Fidelity Mid Cap Enhanced Index Fund | .45% |
Fidelity International Enhanced Index Fund | .55% |
Amount | |
Fidelity Large Cap Growth Enhanced Index Fund | $2,025 |
Fidelity Large Cap Value Enhanced Index Fund | 2,379 |
Fidelity Large Cap Core Enhanced Index Fund | 693 |
Fidelity Mid Cap Enhanced Index Fund | 561 |
Fidelity International Enhanced Index Fund | 526 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Large Cap Value Enhanced Index Fund | Borrower | $69,054,000 | 4.22% | $24,271 |
Fidelity Large Cap Core Enhanced Index Fund | Borrower | $19,081,091 | 3.32% | $19,328 |
Fidelity International Enhanced Index Fund | Borrower | $12,518,400 | 4.07% | $7,068 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Large Cap Growth Enhanced Index Fund | 23,519,774 | 12,444,645 | 594,560 |
Fidelity Large Cap Value Enhanced Index Fund | 69,729,597 | 40,237,400 | 3,309,603 |
Fidelity Large Cap Core Enhanced Index Fund | 40,936,161 | 23,929,738 | (849,000) |
Fidelity Mid Cap Enhanced Index Fund | 24,914,841 | 19,252,678 | (3,601,115) |
Fidelity International Enhanced Index Fund | 3,345,331 | 1,252,802 | (40,407) |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Large Cap Growth Enhanced Index Fund | $214 | $- | $- |
Fidelity Large Cap Value Enhanced Index Fund | $2,605 | $374 | $- |
Fidelity Large Cap Core Enhanced Index Fund | $189 | $- | $- |
Fidelity Mid Cap Enhanced Index Fund | $9,305 | $3,902 | $- |
Fidelity International Enhanced Index Fund | $6,284 | $- | $- |
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Large Cap Core Enhanced Index Fund | $8,149,000 | 3.58% | $810 |
Custodian credits | |
Fidelity Large Cap Growth Enhanced Index Fund | $692 |
Fidelity Large Cap Value Enhanced Index Fund | 752 |
Fidelity Large Cap Core Enhanced Index Fund | 1,626 |
Fidelity Mid Cap Enhanced Index Fund | 514 |
Fidelity International Enhanced Index Fund | 67 |
Fund | Strategic Advisers Fidelity U.S. Total Stock Fund |
Fidelity Large Cap Value Enhanced Index Fund | 56% |
Fund | % of shares held |
Fidelity Large Cap Value Enhanced Index Fund | 59% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2022 to February 28, 2023). |
Annualized Expense Ratio- A | Beginning Account Value September 1, 2022 | Ending Account Value February 28, 2023 | Expenses Paid During Period- C September 1, 2022 to February 28, 2023 | |||||||
Fidelity® Large Cap Growth Enhanced Index Fund | .39% | |||||||||
Actual | $ 1,000 | $ 988.70 | $ 1.92 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.86 | $ 1.96 | |||||||
Fidelity® Large Cap Value Enhanced Index Fund | .39% | |||||||||
Actual | $ 1,000 | $ 1,039.10 | $ 1.97 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.86 | $ 1.96 | |||||||
Fidelity® Large Cap Core Enhanced Index Fund | .39% | |||||||||
Actual | $ 1,000 | $ 1,008.70 | $ 1.94 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.86 | $ 1.96 | |||||||
Fidelity® Mid Cap Enhanced Index Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,059.20 | $ 2.30 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.56 | $ 2.26 | |||||||
Fidelity® International Enhanced Index Fund | .55% | |||||||||
Actual | $ 1,000 | $ 1,124.30 | $ 2.90 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.07 | $ 2.76 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Commonwealth Trust II’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Commonwealth Trust II’s (the “Trust”) disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Commonwealth Trust II
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | April 20, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | April 20, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | April 20, 2023 |