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 811-05251
Fidelity Concord Street Trust
(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: | April 30 |
Date of reporting period: | October 31, 2023 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Arch Capital Group Ltd. | 2.1 | |
Molina Healthcare, Inc. | 1.9 | |
Hess Corp. | 1.8 | |
Space Exploration Technologies Corp. Class A | 1.8 | |
Imperial Oil Ltd. | 1.7 | |
Cheniere Energy, Inc. | 1.6 | |
AECOM | 1.4 | |
Performance Food Group Co. | 1.3 | |
American Financial Group, Inc. | 1.3 | |
RenaissanceRe Holdings Ltd. | 1.3 | |
16.2 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 23.9 | |
Financials | 15.9 | |
Consumer Discretionary | 10.9 | |
Energy | 9.5 | |
Health Care | 7.7 | |
Materials | 6.3 | |
Information Technology | 6.2 | |
Consumer Staples | 5.6 | |
Utilities | 5.1 | |
Real Estate | 4.7 | |
Communication Services | 2.4 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 97.0% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 2.4% | |||
Entertainment - 1.6% | |||
Endeavor Group Holdings, Inc. | 2,185,375 | 49,739 | |
Liberty Media Corp. Liberty Formula One Class A | 316,651 | 18,223 | |
Warner Music Group Corp. Class A | 1,240,140 | 38,816 | |
106,778 | |||
Interactive Media & Services - 0.4% | |||
Ziff Davis, Inc. (a) | 370,555 | 22,404 | |
Media - 0.4% | |||
Cable One, Inc. (b) | 43,033 | 23,663 | |
TOTAL COMMUNICATION SERVICES | 152,845 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Automobile Components - 1.1% | |||
American Axle & Manufacturing Holdings, Inc. (a) | 3,352,428 | 22,629 | |
Aptiv PLC (a) | 559,281 | 48,769 | |
71,398 | |||
Diversified Consumer Services - 1.2% | |||
Duolingo, Inc. (a) | 142,776 | 20,852 | |
H&R Block, Inc. | 1,429,306 | 58,673 | |
79,525 | |||
Hotels, Restaurants & Leisure - 4.4% | |||
ARAMARK Holdings Corp. | 1,617,122 | 43,549 | |
Caesars Entertainment, Inc. (a) | 579,067 | 23,099 | |
Churchill Downs, Inc. | 568,105 | 62,401 | |
Domino's Pizza, Inc. | 122,429 | 41,502 | |
Vail Resorts, Inc. | 152,023 | 32,267 | |
Wyndham Hotels & Resorts, Inc. | 1,123,649 | 81,352 | |
284,170 | |||
Household Durables - 1.3% | |||
D.R. Horton, Inc. | 293,073 | 30,597 | |
Mohawk Industries, Inc. (a) | 164,606 | 13,231 | |
NVR, Inc. (a) | 8,109 | 43,891 | |
87,719 | |||
Specialty Retail - 0.3% | |||
Best Buy Co., Inc. | 245,329 | 16,393 | |
Textiles, Apparel & Luxury Goods - 2.6% | |||
Brunello Cucinelli SpA | 955,860 | 76,714 | |
PVH Corp. | 809,752 | 60,205 | |
Tapestry, Inc. | 1,228,874 | 33,868 | |
170,787 | |||
TOTAL CONSUMER DISCRETIONARY | 709,992 | ||
CONSUMER STAPLES - 5.5% | |||
Beverages - 1.1% | |||
Boston Beer Co., Inc. Class A (a) | 101,572 | 33,920 | |
Keurig Dr. Pepper, Inc. | 1,237,168 | 37,523 | |
71,443 | |||
Consumer Staples Distribution & Retail - 2.6% | |||
Albertsons Companies, Inc. | 1,406,086 | 30,512 | |
BJ's Wholesale Club Holdings, Inc. (a) | 727,308 | 49,544 | |
Performance Food Group Co. (a) | 1,517,344 | 87,642 | |
167,698 | |||
Food Products - 1.1% | |||
Bowery Farming, Inc. warrants (a)(c)(d) | 252,678 | 1,044 | |
Bunge Ltd. | 255,707 | 27,100 | |
Freshpet, Inc. (a)(b) | 346,672 | 19,899 | |
Nomad Foods Ltd. (a) | 1,833,932 | 25,345 | |
73,388 | |||
Household Products - 0.7% | |||
Energizer Holdings, Inc. | 912,167 | 28,806 | |
Reynolds Consumer Products, Inc. | 678,033 | 17,242 | |
46,048 | |||
TOTAL CONSUMER STAPLES | 358,577 | ||
ENERGY - 9.5% | |||
Energy Equipment & Services - 1.2% | |||
Expro Group Holdings NV (a) | 1,873,376 | 29,506 | |
NOV, Inc. | 2,379,451 | 47,494 | |
77,000 | |||
Oil, Gas & Consumable Fuels - 8.3% | |||
Canadian Natural Resources Ltd. | 1,056,912 | 67,115 | |
Cheniere Energy, Inc. | 632,885 | 105,325 | |
Energy Transfer LP | 3,434,346 | 45,162 | |
Golar LNG Ltd. | 1,388,762 | 31,150 | |
Hess Corp. | 807,679 | 116,629 | |
Imperial Oil Ltd. (b) | 1,861,299 | 106,074 | |
Range Resources Corp. | 1,858,797 | 66,619 | |
538,074 | |||
TOTAL ENERGY | 615,074 | ||
FINANCIALS - 15.9% | |||
Banks - 4.9% | |||
BOK Financial Corp. | 435,728 | 28,549 | |
First Horizon National Corp. | 4,717,372 | 50,712 | |
Huntington Bancshares, Inc. | 3,744,231 | 36,132 | |
M&T Bank Corp. | 444,288 | 50,093 | |
PNC Financial Services Group, Inc. | 334,244 | 38,261 | |
U.S. Bancorp | 1,417,562 | 45,192 | |
Wintrust Financial Corp. | 877,544 | 65,544 | |
314,483 | |||
Capital Markets - 1.3% | |||
Cboe Global Markets, Inc. | 185,781 | 30,448 | |
Lazard Ltd. Class A | 730,386 | 20,283 | |
Raymond James Financial, Inc. | 370,420 | 35,353 | |
86,084 | |||
Financial Services - 1.1% | |||
Radian Group, Inc. | 2,569,897 | 65,121 | |
Shift4 Payments, Inc. (a) | 179,506 | 7,992 | |
73,113 | |||
Insurance - 8.6% | |||
American Financial Group, Inc. | 775,086 | 84,763 | |
Arch Capital Group Ltd. (a) | 1,552,887 | 134,604 | |
Assurant, Inc. | 208,513 | 31,048 | |
Beazley PLC | 3,972,313 | 24,841 | |
First American Financial Corp. | 1,214,677 | 62,483 | |
Globe Life, Inc. | 207,600 | 24,156 | |
Hartford Financial Services Group, Inc. | 619,663 | 45,514 | |
Hiscox Ltd. | 2,644,110 | 30,145 | |
RenaissanceRe Holdings Ltd. | 378,408 | 83,095 | |
The Travelers Companies, Inc. | 217,175 | 36,364 | |
557,013 | |||
TOTAL FINANCIALS | 1,030,693 | ||
HEALTH CARE - 7.0% | |||
Biotechnology - 0.7% | |||
Repligen Corp. (a)(b) | 325,180 | 43,756 | |
Health Care Equipment & Supplies - 1.4% | |||
Hologic, Inc. (a) | 816,748 | 54,044 | |
Inspire Medical Systems, Inc. (a) | 85,802 | 12,627 | |
Masimo Corp. (a) | 311,725 | 25,290 | |
91,961 | |||
Health Care Providers & Services - 3.4% | |||
Centene Corp. (a) | 931,505 | 64,255 | |
Henry Schein, Inc. (a) | 416,931 | 27,092 | |
LifeStance Health Group, Inc. (a) | 1,579,703 | 9,210 | |
Molina Healthcare, Inc. (a) | 372,212 | 123,928 | |
224,485 | |||
Health Care Technology - 0.3% | |||
Evolent Health, Inc. (e) | 692,300 | 16,913 | |
Life Sciences Tools & Services - 0.4% | |||
Charles River Laboratories International, Inc. (a) | 165,680 | 27,894 | |
Pharmaceuticals - 0.8% | |||
Recordati SpA | 625,706 | 28,866 | |
UCB SA | 279,509 | 20,424 | |
49,290 | |||
TOTAL HEALTH CARE | 454,299 | ||
INDUSTRIALS - 23.5% | |||
Aerospace & Defense - 4.1% | |||
BWX Technologies, Inc. | 637,808 | 47,376 | |
Huntington Ingalls Industries, Inc. | 225,079 | 49,477 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(c)(d) | 1,396,290 | 113,099 | |
Class C (a)(c)(d) | 20,340 | 1,648 | |
Woodward, Inc. | 412,051 | 51,383 | |
262,983 | |||
Air Freight & Logistics - 0.4% | |||
GXO Logistics, Inc. (a) | 573,286 | 28,957 | |
Building Products - 2.0% | |||
Builders FirstSource, Inc. (a) | 230,242 | 24,986 | |
Hayward Holdings, Inc. (a) | 1,335,578 | 14,024 | |
Johnson Controls International PLC | 589,351 | 28,890 | |
Owens Corning | 572,772 | 64,935 | |
132,835 | |||
Commercial Services & Supplies - 1.0% | |||
GFL Environmental, Inc. | 2,218,478 | 63,911 | |
Construction & Engineering - 2.0% | |||
AECOM | 1,197,732 | 91,686 | |
Willscot Mobile Mini Holdings (a) | 991,912 | 39,091 | |
130,777 | |||
Electrical Equipment - 3.6% | |||
Acuity Brands, Inc. | 322,931 | 52,305 | |
Generac Holdings, Inc. (a) | 359,857 | 30,253 | |
Regal Rexnord Corp. | 597,232 | 70,718 | |
Sensata Technologies, Inc. PLC | 912,203 | 29,081 | |
Vertiv Holdings Co. | 1,335,836 | 52,458 | |
234,815 | |||
Ground Transportation - 1.0% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 1,292,998 | 63,215 | |
Machinery - 5.1% | |||
Allison Transmission Holdings, Inc. | 976,488 | 49,235 | |
Chart Industries, Inc. (a)(b) | 593,158 | 68,943 | |
Crane Co. | 532,812 | 51,859 | |
Donaldson Co., Inc. | 1,145,147 | 66,029 | |
Energy Recovery, Inc. (a) | 591,344 | 8,988 | |
Fortive Corp. | 796,542 | 51,998 | |
PACCAR, Inc. | 378,529 | 31,240 | |
328,292 | |||
Marine Transportation - 0.5% | |||
Kirby Corp. (a) | 441,044 | 32,946 | |
Professional Services - 3.3% | |||
Leidos Holdings, Inc. | 417,911 | 41,423 | |
Science Applications International Corp. | 436,042 | 47,633 | |
SS&C Technologies Holdings, Inc. | 575,525 | 28,920 | |
TransUnion Holding Co., Inc. | 814,807 | 35,754 | |
WNS Holdings Ltd. sponsored ADR (a) | 1,174,691 | 63,809 | |
217,539 | |||
Trading Companies & Distributors - 0.5% | |||
Beacon Roofing Supply, Inc. (a) | 421,760 | 30,017 | |
TOTAL INDUSTRIALS | 1,526,287 | ||
INFORMATION TECHNOLOGY - 6.2% | |||
Communications Equipment - 0.4% | |||
Lumentum Holdings, Inc. (a) | 553,374 | 21,698 | |
Electronic Equipment, Instruments & Components - 2.7% | |||
Crane Nxt Co. | 858,629 | 44,649 | |
Fabrinet (a) | 376,580 | 58,370 | |
Flex Ltd. (a) | 2,170,327 | 55,821 | |
Keysight Technologies, Inc. (a) | 140,198 | 17,111 | |
175,951 | |||
IT Services - 1.4% | |||
Amdocs Ltd. | 565,189 | 45,306 | |
MongoDB, Inc. Class A (a) | 135,633 | 46,738 | |
92,044 | |||
Semiconductors & Semiconductor Equipment - 0.3% | |||
Skyworks Solutions, Inc. | 241,297 | 20,930 | |
Software - 1.4% | |||
Aspen Technology, Inc. (a) | 155,517 | 27,643 | |
Dynatrace, Inc. (a) | 1,404,762 | 62,807 | |
90,450 | |||
TOTAL INFORMATION TECHNOLOGY | 401,073 | ||
MATERIALS - 6.3% | |||
Chemicals - 2.7% | |||
Cabot Corp. | 640,784 | 42,599 | |
Celanese Corp. Class A | 235,851 | 27,007 | |
CF Industries Holdings, Inc. | 479,092 | 38,222 | |
Nutrien Ltd. | 431,511 | 23,176 | |
Westlake Corp. | 348,083 | 40,155 | |
171,159 | |||
Containers & Packaging - 1.3% | |||
Avery Dennison Corp. | 185,117 | 32,223 | |
O-I Glass, Inc. (a) | 3,450,190 | 53,305 | |
85,528 | |||
Metals & Mining - 2.3% | |||
Commercial Metals Co. | 1,251,473 | 52,925 | |
First Quantum Minerals Ltd. | 908,696 | 10,530 | |
Franco-Nevada Corp. | 291,884 | 35,508 | |
Freeport-McMoRan, Inc. | 1,116,752 | 37,724 | |
Novagold Resources, Inc. (a) | 3,629,049 | 12,640 | |
149,327 | |||
TOTAL MATERIALS | 406,014 | ||
REAL ESTATE - 4.7% | |||
Equity Real Estate Investment Trusts (REITs) - 4.2% | |||
Essex Property Trust, Inc. | 92,032 | 19,687 | |
Gaming & Leisure Properties | 1,170,862 | 53,145 | |
Omega Healthcare Investors, Inc. | 1,130,292 | 37,413 | |
Realty Income Corp. | 553,064 | 26,204 | |
Spirit Realty Capital, Inc. | 1,053,232 | 37,906 | |
Ventas, Inc. | 672,916 | 28,572 | |
VICI Properties, Inc. | 1,821,733 | 50,826 | |
Welltower, Inc. | 230,404 | 19,264 | |
273,017 | |||
Real Estate Management & Development - 0.5% | |||
Jones Lang LaSalle, Inc. (a) | 273,607 | 35,000 | |
TOTAL REAL ESTATE | 308,017 | ||
UTILITIES - 5.1% | |||
Electric Utilities - 2.9% | |||
Alliant Energy Corp. | 1,044,122 | 50,943 | |
FirstEnergy Corp. | 963,498 | 34,301 | |
IDACORP, Inc. | 466,317 | 44,165 | |
OGE Energy Corp. | 1,761,254 | 60,235 | |
189,644 | |||
Gas Utilities - 0.7% | |||
Atmos Energy Corp. | 405,789 | 43,687 | |
Independent Power and Renewable Electricity Producers - 1.1% | |||
The AES Corp. | 1,359,007 | 20,249 | |
Vistra Corp. | 1,489,057 | 48,722 | |
68,971 | |||
Multi-Utilities - 0.4% | |||
NiSource, Inc. | 1,121,341 | 28,213 | |
TOTAL UTILITIES | 330,515 | ||
TOTAL COMMON STOCKS (Cost $5,037,559) | 6,293,386 | ||
Convertible Preferred Stocks - 1.2% | |||
Shares | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Bolt Threads, Inc.: | |||
Series D (a)(c)(d) | 976,285 | 488 | |
Series E (a)(c)(d) | 1,419,309 | 710 | |
1,198 | |||
CONSUMER STAPLES - 0.1% | |||
Food Products - 0.1% | |||
Bowery Farming, Inc.: | |||
Series C1 (a)(c)(d) | 466,468 | 3,718 | |
Series D1 (c)(d) | 252,678 | 1,344 | |
5,062 | |||
HEALTH CARE - 0.7% | |||
Biotechnology - 0.7% | |||
National Resilience, Inc. Series B (a)(c)(d) | 711,831 | 43,229 | |
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(c)(d) | 18,837 | 15,258 | |
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(c)(d) | 145,591 | 14,980 | |
TOTAL INDUSTRIALS | 30,238 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $98,669) | 79,727 | ||
Money Market Funds - 3.1% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (f) | 125,991,166 | 126,016 | |
Fidelity Securities Lending Cash Central Fund 5.40% (f)(g) | 75,237,871 | 75,245 | |
TOTAL MONEY MARKET FUNDS (Cost $201,259) | 201,261 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $5,337,487) | 6,574,374 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (83,166) |
NET ASSETS - 100.0% | 6,491,208 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $195,518,000 or 3.0% of net assets. |
(d) | Level 3 security |
(e) | 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 $16,913,000 or 0.3% of net assets. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 15,021 |
Bolt Threads, Inc. Series D | 12/13/17 | 15,659 |
Bolt Threads, Inc. Series E | 2/07/20 - 9/02/21 | 25,230 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 28,104 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 2,387 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
National Resilience, Inc. Series B | 12/01/20 | 9,724 |
Space Exploration Technologies Corp. Class A | 4/08/16 - 9/11/17 | 14,283 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 275 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 2,543 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 194,205 | 442,731 | 510,919 | 2,406 | - | (1) | 126,016 | 0.3% |
Fidelity Securities Lending Cash Central Fund 5.40% | 139,889 | 992,660 | 1,057,304 | 88 | - | - | 75,245 | 0.3% |
Total | 334,094 | 1,435,391 | 1,568,223 | 2,494 | - | (1) | 201,261 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 152,845 | 152,845 | - | - |
Consumer Discretionary | 711,190 | 709,992 | - | 1,198 |
Consumer Staples | 363,639 | 357,533 | - | 6,106 |
Energy | 615,074 | 615,074 | - | - |
Financials | 1,030,693 | 1,030,693 | - | - |
Health Care | 497,528 | 454,299 | - | 43,229 |
Industrials | 1,556,525 | 1,411,540 | - | 144,985 |
Information Technology | 401,073 | 401,073 | - | - |
Materials | 406,014 | 406,014 | - | - |
Real Estate | 308,017 | 308,017 | - | - |
Utilities | 330,515 | 330,515 | - | - |
Money Market Funds | 201,261 | 201,261 | - | - |
Total Investments in Securities: | 6,574,374 | 6,378,856 | - | 195,518 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 134,304 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 10,681 | ||
Cost of Purchases | - | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 144,985 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at October 31, 2023 | $ | 10,681 | |
Other Investments in Securities | |||
Beginning Balance | $ | 49,121 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (975) | ||
Cost of Purchases | 2,387 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 50,533 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at October 31, 2023 | $ | (975) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | October 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $71,906) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,136,228) | $ | 6,373,113 | ||
Fidelity Central Funds (cost $201,259) | 201,261 | |||
Total Investment in Securities (cost $5,337,487) | $ | 6,574,374 | ||
Cash | 25 | |||
Receivable for investments sold | 13,298 | |||
Receivable for fund shares sold | 1,794 | |||
Dividends receivable | 5,207 | |||
Distributions receivable from Fidelity Central Funds | 489 | |||
Prepaid expenses | 11 | |||
Other receivables | 340 | |||
Total assets | 6,595,538 | |||
Liabilities | ||||
Payable for investments purchased | $ | 16,248 | ||
Payable for fund shares redeemed | 7,617 | |||
Accrued management fee | 4,017 | |||
Other affiliated payables | 828 | |||
Other payables and accrued expenses | 395 | |||
Collateral on securities loaned | 75,225 | |||
Total Liabilities | 104,330 | |||
Net Assets | $ | 6,491,208 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,064,008 | ||
Total accumulated earnings (loss) | 1,427,200 | |||
Net Assets | $ | 6,491,208 | ||
Net Asset Value and Maximum Offering Price | ||||
Mid-Cap Stock : | ||||
Net Asset Value, offering price and redemption price per share ($5,659,185 ÷ 157,297 shares) | $ | 35.98 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($832,023 ÷ 23,091 shares) | $ | 36.03 |
Statement of Operations | ||||
Amounts in thousands | Six months ended October 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 56,436 | ||
Income from Fidelity Central Funds (including $88 from security lending) | 2,494 | |||
Total Income | 58,930 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 19,132 | ||
Performance adjustment | 5,515 | |||
Transfer agent fees | 4,600 | |||
Accounting fees | 527 | |||
Custodian fees and expenses | 45 | |||
Independent trustees' fees and expenses | 19 | |||
Registration fees | 63 | |||
Audit | 40 | |||
Legal | 7 | |||
Interest | 172 | |||
Miscellaneous | 20 | |||
Total expenses before reductions | 30,140 | |||
Expense reductions | (280) | |||
Total expenses after reductions | 29,860 | |||
Net Investment income (loss) | 29,070 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 155,249 | |||
Redemptions in-kind | 19,495 | |||
Foreign currency transactions | (83) | |||
Total net realized gain (loss) | 174,661 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (552,364) | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | (26) | |||
Total change in net unrealized appreciation (depreciation) | (552,391) | |||
Net gain (loss) | (377,730) | |||
Net increase (decrease) in net assets resulting from operations | $ | (348,660) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 29,070 | $ | 90,863 |
Net realized gain (loss) | 174,661 | 50,838 | ||
Change in net unrealized appreciation (depreciation) | (552,391) | (50,985) | ||
Net increase (decrease) in net assets resulting from operations | (348,660) | 90,716 | ||
Distributions to shareholders | (22,766) | (385,728) | ||
Share transactions - net increase (decrease) | (1,004,739) | 787,613 | ||
Total increase (decrease) in net assets | (1,376,165) | 492,601 | ||
Net Assets | ||||
Beginning of period | 7,867,373 | 7,374,772 | ||
End of period | $ | 6,491,208 | $ | 7,867,373 |
Fidelity® Mid-Cap Stock Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 38.06 | $ | 39.74 | $ | 44.52 | $ | 28.96 | $ | 35.31 | $ | 38.38 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .15 | .45 | .44 | .35 | .31 | .34 | ||||||
Net realized and unrealized gain (loss) | (2.12) | (.09) | .18 | 17.71 | (4.29) | 2.26 | ||||||
Total from investment operations | (1.97) | .36 | .62 | 18.06 | (3.98) | 2.60 | ||||||
Distributions from net investment income | (.11) | (.27) | (.48) | (.39) C | (.35) | (.29) | ||||||
Distributions from net realized gain | - D | (1.77) | (4.91) | (2.10) C | (2.02) | (5.38) | ||||||
Total distributions | (.11) | (2.04) | (5.40) E | (2.50) E | (2.37) | (5.67) | ||||||
Net asset value, end of period | $ | 35.98 | $ | 38.06 | $ | 39.74 | $ | 44.52 | $ | 28.96 | $ | 35.31 |
Total Return F,G | (5.19)% | 1.06% | 1.17% | 64.86% | (12.42)% | 7.90% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .84% J | .85% | .79% | .77% | .86% | .68% | ||||||
Expenses net of fee waivers, if any | .83% J | .84% | .79% | .77% | .86% | .67% | ||||||
Expenses net of all reductions | .83% J | .84% | .79% | .76% | .86% | .67% | ||||||
Net investment income (loss) | .78% J | 1.18% | 1.05% | .97% | .90% | .93% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 5,659 | $ | 6,854 | $ | 6,034 | $ | 6,020 | $ | 4,125 | $ | 5,373 |
Portfolio turnover rate K | 18% J,L | 19% L | 17% L | 30% L | 36% L | 29% |
Fidelity® Mid-Cap Stock Fund Class K |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 38.11 | $ | 39.77 | $ | 44.55 | $ | 28.98 | $ | 35.32 | $ | 38.40 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .17 | .48 | .48 | .38 | .34 | .37 | ||||||
Net realized and unrealized gain (loss) | (2.13) | (.08) | .17 | 17.72 | (4.27) | 2.26 | ||||||
Total from investment operations | (1.96) | .40 | .65 | 18.10 | (3.93) | 2.63 | ||||||
Distributions from net investment income | (.12) | (.29) | (.51) | (.43) C | (.39) | (.33) | ||||||
Distributions from net realized gain | - D | (1.77) | (4.93) | (2.10) C | (2.02) | (5.38) | ||||||
Total distributions | (.12) | (2.06) | (5.43) E | (2.53) | (2.41) | (5.71) | ||||||
Net asset value, end of period | $ | 36.03 | $ | 38.11 | $ | 39.77 | $ | 44.55 | $ | 28.98 | $ | 35.32 |
Total Return F,G | (5.15)% | 1.16% | 1.26% | 65.01% | (12.30)% | 7.99% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .74% J | .75% | .70% | .67% | .76% | .57% | ||||||
Expenses net of fee waivers, if any | .73% J | .75% | .70% | .67% | .76% | .57% | ||||||
Expenses net of all reductions | .73% J | .75% | .70% | .66% | .76% | .57% | ||||||
Net investment income (loss) | .88% J | 1.28% | 1.13% | 1.07% | 1.00% | 1.03% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 832 | $ | 1,013 | $ | 1,341 | $ | 1,962 | $ | 1,496 | $ | 2,348 |
Portfolio turnover rate K | 18% J,L | 19% L | 17% L | 30% L | 36% L | 29% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $ 195,518 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA | 13.1 | Increase |
Enterprise value/Revenue multiple (EV/R) | 7.5 - 9 .7 / 8.1 | Increase | |||
Market approach | Transaction price | $0.65 -$60.73 / $59.11 | Increase | ||
Black scholes | Discount rate | 5.0% - 11.6% / 6.1% | Increase | ||
Volatility | 80.0% - 100.0% / 96.7% | Increase | |||
Term | 0.4 - 2.0 / 1.7 | Increase |
Fidelity Mid-Cap Stock Fund | $340 |
Gross unrealized appreciation | $1,744,031 |
Gross unrealized depreciation | (507,415) |
Net unrealized appreciation (depreciation) | $1,236,616 |
Tax cost | $5,337,758 |
Short-term | $(13,752) |
Total capital loss carryforward | $(13,752) |
Purchases ($) | Sales ($) | |
Fidelity Mid-Cap Stock Fund | 656,117 | 1,513,103 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Mid-Cap Stock Fund | 1,668 | 19,495 | 61,987 | Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Mid-Cap Stock Fund | 6,467 | 76,622 | 237,758 | Mid-Cap Stock, Class K |
Amount | % of Class-Level Average Net AssetsA | |
Mid-Cap Stock | $4,395 | .14 |
Class K | 205 | .04 |
$4,600 |
% of Class-Level Average Net Assets | |
Mid-Cap Stock | 0.1370% |
% of Average Net Assets | |
Fidelity Mid-Cap Stock Fund | .01 |
% of Average Net Assets | |
Fidelity Mid-Cap Stock Fund | 0.0142% |
Amount | |
Fidelity Mid-Cap Stock Fund | $21 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Mid-Cap Stock Fund | Borrower | $83,005 | 5.31% | $172 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Mid-Cap Stock Fund | 22,443 | 39,319 | (19,477) |
Amount | |
Fidelity Mid-Cap Stock Fund | $6 |
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 Mid-Cap Stock Fund | $9 | $-A | $- |
Six months ended October 31, 2023 | Year ended April 30, 2023 | |
Fidelity Mid-Cap Stock Fund | ||
Distributions to shareholders | ||
Mid-Cap Stock | $19,574 | $316,842 |
Class K | 3,192 | 68,886 |
Total | $22,766 | $385,728 |
Shares | Shares | Dollars | Dollars | |
Six months ended October 31, 2023 | Year ended April 30, 2023 | Six months ended October 31, 2023 | Year ended April 30, 2023 | |
Fidelity Mid-Cap Stock Fund | ||||
Mid-Cap Stock | ||||
Shares sold | 8,273 | 48,049 | $316,257 | $1,804,277 |
Reinvestment of distributions | 474 | 7,943 | 17,930 | 295,347 |
Shares redeemed | (31,552) | (27,728) | (1,206,437) | (1,047,495) |
Net increase (decrease) | (22,805) | 28,264 | $(872,250) | $1,052,129 |
Class K | ||||
Shares sold | 1,839 | 6,538 | $70,451 | $247,592 |
Reinvestment of distributions | 84 | 1,851 | 3,192 | 68,886 |
Shares redeemed | (5,428) | (15,508) | (206,132) | (580,994) |
Net increase (decrease) | (3,505) | (7,119) | $(132,489) | $(264,516) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Mid-Cap Stock Fund | ||||||||||
Fidelity® Mid-Cap Stock Fund | .83% | |||||||||
Actual | $ 1,000 | $ 948.10 | $ 4.06 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.96 | $ 4.22 | |||||||
Class K | .73% | |||||||||
Actual | $ 1,000 | $ 948.50 | $ 3.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.47 | $ 3.71 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
FirstCash Holdings, Inc. | 1.4 | |
Oceaneering International, Inc. | 1.3 | |
ASGN, Inc. | 1.1 | |
The Brink's Co. | 1.1 | |
ICF International, Inc. | 1.1 | |
Chord Energy Corp. | 1.1 | |
Laureate Education, Inc. Class A | 1.0 | |
Tenable Holdings, Inc. | 1.0 | |
Federal Signal Corp. | 1.0 | |
Applied Industrial Technologies, Inc. | 1.0 | |
11.1 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 17.1 | |
Industrials | 16.6 | |
Health Care | 14.6 | |
Information Technology | 13.8 | |
Consumer Discretionary | 9.1 | |
Energy | 8.2 | |
Real Estate | 6.3 | |
Materials | 4.2 | |
Consumer Staples | 4.1 | |
Communication Services | 2.4 | |
Utilities | 1.8 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.2% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.4% | |||
Diversified Telecommunication Services - 0.5% | |||
Cogent Communications Group, Inc. | 2,111 | 137,173 | |
Entertainment - 0.3% | |||
IMAX Corp. (a) | 5,130 | 93,417 | |
Interactive Media & Services - 1.3% | |||
IAC, Inc. (a) | 2,339 | 99,524 | |
QuinStreet, Inc. (a) | 11,276 | 127,532 | |
Ziff Davis, Inc. (a) | 2,455 | 148,429 | |
375,485 | |||
Wireless Telecommunication Services - 0.3% | |||
Gogo, Inc. (a) | 8,836 | 92,778 | |
TOTAL COMMUNICATION SERVICES | 698,853 | ||
CONSUMER DISCRETIONARY - 9.1% | |||
Automobile Components - 1.4% | |||
Adient PLC (a) | 4,699 | 158,309 | |
Fox Factory Holding Corp. (a) | 1,788 | 145,668 | |
LCI Industries | 797 | 86,467 | |
390,444 | |||
Diversified Consumer Services - 2.8% | |||
Adtalem Global Education, Inc. (a) | 1,520 | 78,736 | |
European Wax Center, Inc. (a) | 8,684 | 128,263 | |
Grand Canyon Education, Inc. (a) | 1,277 | 151,107 | |
Laureate Education, Inc. Class A | 20,861 | 294,975 | |
OneSpaWorld Holdings Ltd. (a) | 12,889 | 135,077 | |
788,158 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
ARAMARK Holdings Corp. | 5,472 | 147,361 | |
Bowlero Corp. Class A (a) | 8,742 | 88,207 | |
El Pollo Loco Holdings, Inc. | 5,802 | 48,447 | |
Everi Holdings, Inc. (a) | 11,375 | 122,736 | |
NeoGames SA (a) | 3,221 | 83,102 | |
Noodles & Co. (a) | 13,942 | 29,696 | |
Red Rock Resorts, Inc. | 1,672 | 66,128 | |
585,677 | |||
Household Durables - 0.3% | |||
TopBuild Corp. (a) | 373 | 85,327 | |
Leisure Products - 0.5% | |||
Brunswick Corp. | 1,913 | 132,896 | |
Specialty Retail - 1.8% | |||
Academy Sports & Outdoors, Inc. | 3,035 | 136,089 | |
Camping World Holdings, Inc. | 4,107 | 68,792 | |
Dick's Sporting Goods, Inc. | 889 | 95,079 | |
Lithia Motors, Inc. Class A (sub. vtg.) | 237 | 57,404 | |
Murphy U.S.A., Inc. | 430 | 155,957 | |
513,321 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Deckers Outdoor Corp. (a) | 48 | 28,659 | |
Rocky Brands, Inc. | 4,994 | 61,326 | |
89,985 | |||
TOTAL CONSUMER DISCRETIONARY | 2,585,808 | ||
CONSUMER STAPLES - 4.1% | |||
Beverages - 0.4% | |||
Primo Water Corp. | 9,248 | 120,779 | |
Consumer Staples Distribution & Retail - 1.1% | |||
Performance Food Group Co. (a) | 2,370 | 136,891 | |
Sprouts Farmers Market LLC (a) | 4,179 | 175,602 | |
312,493 | |||
Food Products - 1.4% | |||
Hostess Brands, Inc. Class A (a) | 1,956 | 65,330 | |
Sovos Brands, Inc. (a) | 1,392 | 30,220 | |
SunOpta, Inc. (a) | 8,936 | 34,314 | |
The Simply Good Foods Co. (a) | 3,110 | 115,972 | |
TreeHouse Foods, Inc. (a) | 3,827 | 159,548 | |
405,384 | |||
Household Products - 0.5% | |||
Spectrum Brands Holdings, Inc. | 2,023 | 152,372 | |
Personal Care Products - 0.7% | |||
BellRing Brands, Inc. (a) | 4,320 | 188,914 | |
TOTAL CONSUMER STAPLES | 1,179,942 | ||
ENERGY - 8.2% | |||
Energy Equipment & Services - 3.9% | |||
Cactus, Inc. | 5,312 | 249,345 | |
Liberty Oilfield Services, Inc. Class A | 6,108 | 120,328 | |
Oceaneering International, Inc. (a) | 16,398 | 360,592 | |
Patterson-UTI Energy, Inc. | 9,513 | 120,815 | |
TechnipFMC PLC | 11,969 | 257,573 | |
1,108,653 | |||
Oil, Gas & Consumable Fuels - 4.3% | |||
California Resources Corp. | 1,289 | 67,789 | |
Chord Energy Corp. | 1,844 | 304,850 | |
Denbury, Inc. (a) | 753 | 66,934 | |
Golar LNG Ltd. | 6,387 | 143,260 | |
Magnolia Oil & Gas Corp. Class A | 1,974 | 44,316 | |
National Energy Services Reunited Corp. (a) | 2,183 | 12,334 | |
Northern Oil & Gas, Inc. | 4,218 | 161,718 | |
Range Resources Corp. | 5,509 | 197,443 | |
Sitio Royalties Corp. | 9,652 | 238,597 | |
1,237,241 | |||
TOTAL ENERGY | 2,345,894 | ||
FINANCIALS - 17.1% | |||
Banks - 9.9% | |||
BankUnited, Inc. | 5,058 | 110,315 | |
Bridgewater Bancshares, Inc. (a) | 8,880 | 85,514 | |
Byline Bancorp, Inc. | 4,959 | 94,072 | |
Cadence Bank | 11,705 | 247,912 | |
Camden National Corp. | 4,344 | 126,671 | |
ConnectOne Bancorp, Inc. | 3,710 | 60,436 | |
East West Bancorp, Inc. | 2,396 | 128,474 | |
Eastern Bankshares, Inc. | 9,256 | 101,909 | |
First Foundation, Inc. | 1,439 | 6,533 | |
First Interstate Bancsystem, Inc. | 7,986 | 184,237 | |
FNB Corp., Pennsylvania | 12,911 | 138,019 | |
Glacier Bancorp, Inc. | 2,177 | 65,724 | |
Hanmi Financial Corp. | 9,965 | 146,286 | |
Independent Bank Corp. | 5,196 | 103,660 | |
Independent Bank Group, Inc. | 1,849 | 65,362 | |
International Bancshares Corp. | 1,320 | 57,856 | |
Orrstown Financial Services, Inc. | 3,512 | 74,138 | |
Popular, Inc. | 909 | 59,121 | |
United Community Bank, Inc. | 6,997 | 154,564 | |
Univest Corp. of Pennsylvania | 10,995 | 183,177 | |
Webster Financial Corp. | 4,994 | 189,622 | |
Western Alliance Bancorp. | 4,839 | 198,883 | |
Wintrust Financial Corp. | 3,187 | 238,037 | |
2,820,522 | |||
Capital Markets - 1.8% | |||
Patria Investments Ltd. | 2,554 | 32,921 | |
Perella Weinberg Partners Class A | 20,003 | 196,229 | |
Piper Jaffray Companies | 940 | 131,459 | |
PJT Partners, Inc. | 1,751 | 137,208 | |
497,817 | |||
Consumer Finance - 1.5% | |||
FirstCash Holdings, Inc. | 3,678 | 400,602 | |
NerdWallet, Inc. (a) | 3,046 | 32,836 | |
433,438 | |||
Financial Services - 2.0% | |||
Essent Group Ltd. | 3,443 | 162,647 | |
Federal Agricultural Mortgage Corp. Class C (non-vtg.) | 414 | 61,504 | |
Flywire Corp. (a) | 6,096 | 163,921 | |
NMI Holdings, Inc. (a) | 4,997 | 136,668 | |
Shift4 Payments, Inc. (a) | 1,152 | 51,287 | |
576,027 | |||
Insurance - 1.3% | |||
BRP Group, Inc. (a) | 6,242 | 130,645 | |
Reinsurance Group of America, Inc. | 465 | 69,504 | |
Selective Insurance Group, Inc. | 550 | 57,261 | |
White Mountains Insurance Group Ltd. | 73 | 104,445 | |
361,855 | |||
Mortgage Real Estate Investment Trusts - 0.6% | |||
Redwood Trust, Inc. | 28,375 | 178,195 | |
TOTAL FINANCIALS | 4,867,854 | ||
HEALTH CARE - 14.6% | |||
Biotechnology - 6.1% | |||
Argenx SE ADR (a) | 362 | 169,984 | |
Blueprint Medicines Corp. (a) | 3,994 | 235,087 | |
Celldex Therapeutics, Inc. (a) | 3,865 | 90,905 | |
Cerevel Therapeutics Holdings (a) | 3,894 | 92,093 | |
Cytokinetics, Inc. (a) | 5,293 | 184,514 | |
Day One Biopharmaceuticals, Inc. (a) | 13,542 | 160,202 | |
Krystal Biotech, Inc. (a) | 1,019 | 119,091 | |
Mineralys Therapeutics, Inc. | 1,406 | 10,868 | |
Mirati Therapeutics, Inc. (a) | 2,501 | 138,881 | |
Natera, Inc. (a) | 3,650 | 144,066 | |
Prelude Therapeutics, Inc. (a) | 11,506 | 19,445 | |
PTC Therapeutics, Inc. (a) | 5,123 | 96,056 | |
Vaxcyte, Inc. (a) | 3,502 | 168,446 | |
Verve Therapeutics, Inc. (a) | 9,310 | 112,092 | |
1,741,730 | |||
Health Care Equipment & Supplies - 2.8% | |||
Axonics Modulation Technologies, Inc. (a) | 3,454 | 176,879 | |
Envista Holdings Corp. (a) | 2,252 | 52,404 | |
Glaukos Corp. (a) | 1,704 | 116,213 | |
Haemonetics Corp. (a) | 926 | 78,923 | |
Inspire Medical Systems, Inc. (a) | 427 | 62,837 | |
Lantheus Holdings, Inc. (a) | 1,881 | 121,513 | |
Merit Medical Systems, Inc. (a) | 1,097 | 75,408 | |
Tactile Systems Technology, Inc. (a) | 3,240 | 35,381 | |
TransMedics Group, Inc. (a) | 2,498 | 93,625 | |
ViewRay, Inc. (a) | 34,227 | 3 | |
813,186 | |||
Health Care Providers & Services - 3.3% | |||
Acadia Healthcare Co., Inc. (a) | 2,508 | 184,363 | |
HealthEquity, Inc. (a) | 2,817 | 201,923 | |
LifeStance Health Group, Inc. (a) | 18,001 | 104,946 | |
Option Care Health, Inc. (a) | 2,649 | 73,457 | |
Privia Health Group, Inc. (a) | 5,086 | 106,908 | |
Surgery Partners, Inc. (a) | 3,086 | 71,379 | |
The Ensign Group, Inc. | 1,988 | 192,041 | |
935,017 | |||
Health Care Technology - 0.5% | |||
Evolent Health, Inc. (a) | 2,982 | 72,850 | |
Phreesia, Inc. (a) | 4,433 | 60,555 | |
133,405 | |||
Life Sciences Tools & Services - 0.6% | |||
Pacific Biosciences of California, Inc. (a) | 15,031 | 92,892 | |
Quanterix Corp. (a) | 3,197 | 69,439 | |
162,331 | |||
Pharmaceuticals - 1.3% | |||
Arvinas Holding Co. LLC (a) | 8,462 | 136,407 | |
Axsome Therapeutics, Inc. (a) | 2,265 | 141,064 | |
Ventyx Biosciences, Inc. (a) | 2,975 | 42,900 | |
Verona Pharma PLC ADR (a) | 3,804 | 53,066 | |
373,437 | |||
TOTAL HEALTH CARE | 4,159,106 | ||
INDUSTRIALS - 16.6% | |||
Aerospace & Defense - 2.3% | |||
AerSale Corp. (a) | 9,941 | 151,998 | |
Cadre Holdings, Inc. | 7,472 | 209,590 | |
Kratos Defense & Security Solutions, Inc. (a) | 11,648 | 198,598 | |
V2X, Inc. (a) | 2,119 | 108,217 | |
668,403 | |||
Commercial Services & Supplies - 1.9% | |||
ACV Auctions, Inc. Class A (a) | 5,605 | 74,715 | |
Montrose Environmental Group, Inc. (a) | 2,737 | 63,279 | |
The Brink's Co. | 4,831 | 323,001 | |
VSE Corp. | 1,293 | 69,563 | |
530,558 | |||
Construction & Engineering - 1.7% | |||
Bowman Consulting Group Ltd. (a) | 3,022 | 80,295 | |
Dycom Industries, Inc. (a) | 2,044 | 174,108 | |
EMCOR Group, Inc. | 573 | 118,410 | |
Granite Construction, Inc. | 3,152 | 127,593 | |
500,406 | |||
Electrical Equipment - 1.2% | |||
Atkore, Inc. (a) | 1,216 | 151,124 | |
Shoals Technologies Group, Inc. (a) | 12,086 | 185,641 | |
336,765 | |||
Ground Transportation - 0.6% | |||
Saia, Inc. (a) | 465 | 166,698 | |
Machinery - 2.8% | |||
Columbus McKinnon Corp. (NY Shares) | 4,505 | 137,718 | |
Crane Co. | 2,130 | 207,313 | |
Federal Signal Corp. | 4,799 | 278,534 | |
ITT, Inc. | 994 | 92,790 | |
John Bean Technologies Corp. | 854 | 88,833 | |
805,188 | |||
Passenger Airlines - 0.3% | |||
Sun Country Airlines Holdings, Inc. (a) | 5,987 | 77,951 | |
Professional Services - 4.3% | |||
ASGN, Inc. (a) | 3,886 | 324,326 | |
Concentrix Corp. | 920 | 70,113 | |
CRA International, Inc. | 1,982 | 192,472 | |
ICF International, Inc. | 2,413 | 305,799 | |
Maximus, Inc. | 1,965 | 146,825 | |
TrueBlue, Inc. (a) | 3,986 | 44,125 | |
WNS Holdings Ltd. sponsored ADR (a) | 2,611 | 141,830 | |
1,225,490 | |||
Trading Companies & Distributors - 1.5% | |||
Applied Industrial Technologies, Inc. | 1,747 | 268,182 | |
FTAI Aviation Ltd. | 3,997 | 150,327 | |
418,509 | |||
TOTAL INDUSTRIALS | 4,729,968 | ||
INFORMATION TECHNOLOGY - 13.8% | |||
Communications Equipment - 0.4% | |||
Lumentum Holdings, Inc. (a) | 3,332 | 130,648 | |
Electronic Equipment, Instruments & Components - 2.4% | |||
Advanced Energy Industries, Inc. | 1,043 | 91,012 | |
Coherent Corp. (a) | 7,003 | 207,289 | |
Crane Nxt Co. | 2,705 | 140,660 | |
Napco Security Technologies, Inc. | 5,546 | 101,880 | |
TTM Technologies, Inc. (a) | 13,883 | 159,516 | |
700,357 | |||
IT Services - 0.7% | |||
Digitalocean Holdings, Inc. (a) | 3,192 | 65,308 | |
Perficient, Inc. (a) | 2,247 | 130,753 | |
196,061 | |||
Semiconductors & Semiconductor Equipment - 4.0% | |||
Cirrus Logic, Inc. (a) | 1,448 | 96,915 | |
Diodes, Inc. (a) | 851 | 55,383 | |
Ichor Holdings Ltd. (a) | 3,020 | 73,265 | |
Impinj, Inc. (a) | 349 | 22,549 | |
MACOM Technology Solutions Holdings, Inc. (a) | 2,176 | 153,495 | |
Nova Ltd. (a) | 650 | 61,731 | |
Onto Innovation, Inc. (a) | 2,237 | 251,372 | |
SiTime Corp. (a) | 2,016 | 201,197 | |
SMART Global Holdings, Inc. (a) | 7,646 | 104,750 | |
Synaptics, Inc. (a) | 1,371 | 114,698 | |
1,135,355 | |||
Software - 5.3% | |||
BlackLine, Inc. (a) | 3,487 | 171,212 | |
MicroStrategy, Inc. Class A (a) | 202 | 85,525 | |
New Relic, Inc. (a) | 1,925 | 166,840 | |
Qualys, Inc. (a) | 1,726 | 263,992 | |
Rapid7, Inc. (a) | 2,261 | 105,114 | |
Telos Corp. (a) | 7,421 | 17,217 | |
Tenable Holdings, Inc. (a) | 6,669 | 280,832 | |
Varonis Systems, Inc. (a) | 7,172 | 241,266 | |
Workiva, Inc. (a) | 2,019 | 175,835 | |
1,507,833 | |||
Technology Hardware, Storage & Peripherals - 1.0% | |||
Avid Technology, Inc. (a) | 6,356 | 171,739 | |
Pure Storage, Inc. Class A (a) | 3,229 | 109,172 | |
280,911 | |||
TOTAL INFORMATION TECHNOLOGY | 3,951,165 | ||
MATERIALS - 4.2% | |||
Chemicals - 2.3% | |||
Element Solutions, Inc. | 5,510 | 100,447 | |
Methanex Corp. | 3,161 | 130,391 | |
Olin Corp. | 2,020 | 86,294 | |
Quaker Houghton | 858 | 123,312 | |
The Chemours Co. LLC | 4,035 | 97,284 | |
Tronox Holdings PLC | 10,036 | 107,285 | |
645,013 | |||
Construction Materials - 0.6% | |||
Eagle Materials, Inc. | 529 | 81,418 | |
Summit Materials, Inc. | 3,125 | 102,813 | |
184,231 | |||
Containers & Packaging - 0.4% | |||
Graphic Packaging Holding Co. | 4,887 | 105,119 | |
Metals & Mining - 0.9% | |||
ATI, Inc. (a) | 3,694 | 139,522 | |
Constellium NV (a) | 8,109 | 128,122 | |
267,644 | |||
TOTAL MATERIALS | 1,202,007 | ||
REAL ESTATE - 6.3% | |||
Equity Real Estate Investment Trusts (REITs) - 5.5% | |||
Apple Hospitality (REIT), Inc. | 9,195 | 144,178 | |
Armada Hoffler Properties, Inc. | 10,854 | 108,106 | |
Douglas Emmett, Inc. | 8,575 | 96,126 | |
Four Corners Property Trust, Inc. | 7,610 | 162,093 | |
LXP Industrial Trust (REIT) | 22,916 | 181,266 | |
Outfront Media, Inc. | 7,253 | 70,789 | |
Plymouth Industrial REIT, Inc. | 8,140 | 162,312 | |
Postal Realty Trust, Inc. | 5,208 | 68,954 | |
RLJ Lodging Trust | 19,042 | 178,995 | |
Ryman Hospitality Properties, Inc. | 1,494 | 127,886 | |
Spirit Realty Capital, Inc. | 2,738 | 98,541 | |
Urban Edge Properties | 11,688 | 185,372 | |
1,584,618 | |||
Real Estate Management & Development - 0.8% | |||
Cushman & Wakefield PLC (a) | 23,112 | 170,335 | |
Jones Lang LaSalle, Inc. (a) | 410 | 52,447 | |
222,782 | |||
TOTAL REAL ESTATE | 1,807,400 | ||
UTILITIES - 1.8% | |||
Electric Utilities - 0.9% | |||
Allete, Inc. | 3,729 | 199,651 | |
IDACORP, Inc. | 647 | 61,277 | |
260,928 | |||
Gas Utilities - 0.5% | |||
Brookfield Infrastructure Corp. A Shares | 1,451 | 37,378 | |
New Jersey Resources Corp. | 2,397 | 97,270 | |
134,648 | |||
Independent Power and Renewable Electricity Producers - 0.4% | |||
Brookfield Renewable Corp. | 4,581 | 104,264 | |
TOTAL UTILITIES | 499,840 | ||
TOTAL COMMON STOCKS (Cost $29,764,083) | 28,027,837 | ||
Money Market Funds - 1.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $534,036) | 533,929 | 534,036 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $30,298,119) | 28,561,873 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (29,507) |
NET ASSETS - 100.0% | 28,532,366 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 37,469 | 27,821,029 | 27,324,462 | 15,159 | - | - | 534,036 | 0.0% |
Total | 37,469 | 27,821,029 | 27,324,462 | 15,159 | - | - | 534,036 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 698,853 | 698,853 | - | - |
Consumer Discretionary | 2,585,808 | 2,585,808 | - | - |
Consumer Staples | 1,179,942 | 1,179,942 | - | - |
Energy | 2,345,894 | 2,345,894 | - | - |
Financials | 4,867,854 | 4,867,854 | - | - |
Health Care | 4,159,106 | 4,159,106 | - | - |
Industrials | 4,729,968 | 4,729,968 | - | - |
Information Technology | 3,951,165 | 3,951,165 | - | - |
Materials | 1,202,007 | 1,202,007 | - | - |
Real Estate | 1,807,400 | 1,807,400 | - | - |
Utilities | 499,840 | 499,840 | - | - |
Money Market Funds | 534,036 | 534,036 | - | - |
Total Investments in Securities: | 28,561,873 | 28,561,873 | - | - |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $29,764,083) | $ | 28,027,837 | ||
Fidelity Central Funds (cost $534,036) | 534,036 | |||
Total Investment in Securities (cost $30,298,119) | $ | 28,561,873 | ||
Receivable for investments sold | 26,075 | |||
Receivable for fund shares sold | 12,233 | |||
Dividends receivable | 4,067 | |||
Distributions receivable from Fidelity Central Funds | 1,992 | |||
Receivable from investment adviser for expense reductions | 234 | |||
Total assets | 28,606,474 | |||
Liabilities | ||||
Payable for investments purchased | $ | 72,219 | ||
Other payables and accrued expenses | 1,889 | |||
Total Liabilities | 74,108 | |||
Net Assets | $ | 28,532,366 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 29,911,921 | ||
Total accumulated earnings (loss) | (1,379,555) | |||
Net Assets | $ | 28,532,366 | ||
Net Asset Value, offering price and redemption price per share ($28,532,366 ÷ 3,053,483 shares) | $ | 9.34 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 197,142 | ||
Income from Fidelity Central Funds | 15,159 | |||
Total Income | 212,301 | |||
Expenses | ||||
Custodian fees and expenses | $ | 3,400 | ||
Independent trustees' fees and expenses | 60 | |||
Total expenses before reductions | 3,460 | |||
Expense reductions | (3,332) | |||
Total expenses after reductions | 128 | |||
Net Investment income (loss) | 212,173 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 167,332 | |||
Total net realized gain (loss) | 167,332 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (1,738,726) | |||
Net gain (loss) | (1,571,394) | |||
Net increase (decrease) in net assets resulting from operations | $ | (1,359,221) |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | For the period November 4, 2022 (commencement of operations) through April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 212,173 | $ | 16,966 |
Net realized gain (loss) | 167,332 | (18,234) | ||
Change in net unrealized appreciation (depreciation) | (1,738,726) | 2,480 | ||
Net increase (decrease) in net assets resulting from operations | (1,359,221) | 1,212 | ||
Distributions to shareholders | (18,246) | (3,300) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,967,051 | 29,788,496 | ||
Reinvestment of distributions | 18,246 | 3,300 | ||
Cost of shares redeemed | (1,865,172) | - | ||
Net increase (decrease) in net assets resulting from share transactions | 120,125 | 29,791,796 | ||
Total increase (decrease) in net assets | (1,257,342) | 29,789,708 | ||
Net Assets | ||||
Beginning of period | 29,789,708 | - | ||
End of period | $ | 28,532,366 | $ | 29,789,708 |
Other Information | ||||
Shares | ||||
Sold | 202,117 | 3,040,580 | ||
Issued in reinvestment of distributions | 1,805 | 334 | ||
Redeemed | (191,353) | - | ||
Net increase (decrease) | 12,569 | 3,040,914 | ||
Fidelity® Series Small Cap Core Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 A | |||
Selected Per-Share Data | ||||
Net asset value, beginning of period | $ | 9.80 | $ | 10.00 |
Income from Investment Operations | ||||
Net investment income (loss) B,C | .07 | .05 | ||
Net realized and unrealized gain (loss) | (.52) | (.22) | ||
Total from investment operations | (.45) | (.17) | ||
Distributions from net investment income | (.01) | (.03) | ||
Total distributions | (.01) | (.03) | ||
Net asset value, end of period | $ | 9.34 | $ | 9.80 |
Total Return D,E | (4.64)% | (1.67)% | ||
Ratios to Average Net Assets C,F,G | ||||
Expenses before reductions | .02% H | .20% H | ||
Expenses net of fee waivers, if any | -% H,I | -% H,I | ||
Expenses net of all reductions | -% H,I | -% H,I | ||
Net investment income (loss) | 1.39% H | 1.12% H | ||
Supplemental Data | ||||
Net assets, end of period (000 omitted) | $ | 28,532 | $ | 29,790 |
Portfolio turnover rate J | 85% H | 12% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $1,863,288 |
Gross unrealized depreciation | (3,615,225) |
Net unrealized appreciation (depreciation) | $(1,751,937) |
Tax cost | $30,313,810 |
Purchases ($) | Sales ($) | |
Fidelity Series Small Cap Core Fund | 14,036,680 | 12,673,707 |
Amount | |
Fidelity Series Small Cap Core Fund | $207 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Small Cap Core Fund | 1,586,568 | 1,163,412 | 106,523 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Series Small Cap Core Fund | -%-D | |||||||||
Actual | $ 1,000 | $ 953.60 | $-E | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.14 | $-E | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 8.9 | |
NVIDIA Corp. | 5.8 | |
Alphabet, Inc. Class C | 5.2 | |
Meta Platforms, Inc. Class A | 4.9 | |
Uber Technologies, Inc. | 4.0 | |
Marriott International, Inc. Class A | 3.4 | |
Amazon.com, Inc. | 3.2 | |
Netflix, Inc. | 3.0 | |
Tourmaline Oil Corp. | 2.3 | |
UnitedHealth Group, Inc. | 2.3 | |
43.0 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 31.4 | |
Consumer Discretionary | 16.8 | |
Communication Services | 15.4 | |
Financials | 8.5 | |
Industrials | 8.3 | |
Health Care | 7.7 | |
Energy | 4.8 | |
Materials | 2.0 | |
Real Estate | 1.7 | |
Consumer Staples | 1.7 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 97.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 15.2% | |||
Entertainment - 4.0% | |||
Endeavor Group Holdings, Inc. | 37,597 | 855,708 | |
Netflix, Inc. (a) | 7,153 | 2,944,819 | |
Spotify Technology SA (a) | 898 | 147,954 | |
3,948,481 | |||
Interactive Media & Services - 10.1% | |||
Alphabet, Inc. Class C (a) | 40,229 | 5,040,694 | |
Meta Platforms, Inc. Class A (a) | 15,887 | 4,786,276 | |
VerticalScope Holdings, Inc. (a) | 7,292 | 26,134 | |
9,853,104 | |||
Media - 1.1% | |||
Comcast Corp. Class A | 11,721 | 483,960 | |
The Trade Desk, Inc. (a) | 8,738 | 620,048 | |
1,104,008 | |||
TOTAL COMMUNICATION SERVICES | 14,905,593 | ||
CONSUMER DISCRETIONARY - 16.8% | |||
Automobiles - 1.0% | |||
Li Auto, Inc. ADR (a) | 5,309 | 179,497 | |
Rivian Automotive, Inc. (a) | 1,109 | 17,988 | |
Tesla, Inc. (a) | 3,846 | 772,431 | |
969,916 | |||
Broadline Retail - 3.7% | |||
Amazon.com, Inc. (a) | 23,671 | 3,150,373 | |
Global-e Online Ltd. (a) | 13,768 | 483,394 | |
3,633,767 | |||
Hotels, Restaurants & Leisure - 6.1% | |||
Airbnb, Inc. Class A (a) | 13,362 | 1,580,591 | |
Cava Group, Inc. (b) | 300 | 9,477 | |
Draftkings Holdings, Inc. (a) | 31,963 | 882,818 | |
Dutch Bros, Inc. (a) | 300 | 7,302 | |
Marriott International, Inc. Class A | 17,846 | 3,365,042 | |
Monarch Casino & Resort, Inc. | 724 | 43,578 | |
Penn Entertainment, Inc. (a) | 3,300 | 65,109 | |
Red Rock Resorts, Inc. | 1,003 | 39,669 | |
5,993,586 | |||
Household Durables - 0.9% | |||
Chervon Holdings Ltd. | 66,500 | 163,793 | |
D.R. Horton, Inc. | 5,800 | 605,520 | |
Garmin Ltd. | 756 | 77,513 | |
846,826 | |||
Specialty Retail - 1.3% | |||
Aritzia, Inc. (a) | 22,857 | 355,526 | |
Auto1 Group SE (a)(c) | 16,871 | 98,896 | |
Industria de Diseno Textil SA | 17,787 | 612,605 | |
Revolve Group, Inc. (a)(b) | 8,500 | 116,875 | |
thredUP, Inc. (a) | 400 | 1,288 | |
Wayfair LLC Class A (a) | 2,097 | 89,353 | |
1,274,543 | |||
Textiles, Apparel & Luxury Goods - 3.8% | |||
Brunello Cucinelli SpA | 3,651 | 293,018 | |
Capri Holdings Ltd. (a) | 10,761 | 550,748 | |
LVMH Moet Hennessy Louis Vuitton SE | 669 | 478,958 | |
Moncler SpA | 9,992 | 517,420 | |
On Holding AG (a) | 300 | 7,701 | |
Prada SpA | 117,710 | 709,092 | |
Ralph Lauren Corp. | 10,742 | 1,208,797 | |
3,765,734 | |||
TOTAL CONSUMER DISCRETIONARY | 16,484,372 | ||
CONSUMER STAPLES - 1.7% | |||
Beverages - 1.6% | |||
Boston Beer Co., Inc. Class A (a) | 600 | 200,370 | |
Monster Beverage Corp. | 26,863 | 1,372,699 | |
1,573,069 | |||
Personal Care Products - 0.1% | |||
The Beauty Health Co. (a)(b) | 9,600 | 38,880 | |
TOTAL CONSUMER STAPLES | 1,611,949 | ||
ENERGY - 4.8% | |||
Oil, Gas & Consumable Fuels - 4.8% | |||
Devon Energy Corp. | 2,256 | 105,062 | |
Hess Corp. | 14,338 | 2,070,407 | |
Reliance Industries Ltd. | 11,516 | 316,570 | |
Tourmaline Oil Corp. (b) | 42,569 | 2,251,008 | |
4,743,047 | |||
FINANCIALS - 8.5% | |||
Banks - 0.5% | |||
Pinnacle Financial Partners, Inc. | 5,665 | 353,269 | |
Starling Bank Ltd. Series D (a)(d)(e) | 44,800 | 160,089 | |
513,358 | |||
Capital Markets - 5.7% | |||
Antin Infrastructure Partners SA | 962 | 11,441 | |
Ares Management Corp. | 18,277 | 1,801,929 | |
BlackRock, Inc. Class A | 3,579 | 2,191,350 | |
Blue Owl Capital, Inc. Class A | 16,932 | 208,772 | |
EQT AB | 2,811 | 51,096 | |
Intercontinental Exchange, Inc. | 5,260 | 565,134 | |
KKR & Co. LP | 4,873 | 269,964 | |
Morningstar, Inc. | 1,122 | 284,135 | |
XP, Inc. Class A | 10,973 | 219,460 | |
5,603,281 | |||
Consumer Finance - 0.1% | |||
NerdWallet, Inc. (a) | 400 | 4,312 | |
Upstart Holdings, Inc. (a)(b) | 1,975 | 47,459 | |
51,771 | |||
Financial Services - 2.0% | |||
Berkshire Hathaway, Inc. Class B (a) | 3,815 | 1,302,174 | |
Block, Inc. Class A (a) | 15,520 | 624,680 | |
Jio Financial Services Ltd. | 10,760 | 28,549 | |
Remitly Global, Inc. (a) | 200 | 5,386 | |
1,960,789 | |||
Insurance - 0.2% | |||
Arthur J. Gallagher & Co. | 703 | 165,549 | |
TOTAL FINANCIALS | 8,294,748 | ||
HEALTH CARE - 7.7% | |||
Biotechnology - 2.3% | |||
Argenx SE ADR (a) | 2,608 | 1,224,639 | |
Blueprint Medicines Corp. (a) | 872 | 51,326 | |
Celldex Therapeutics, Inc. (a) | 5,436 | 127,855 | |
Prelude Therapeutics, Inc. (a) | 300 | 507 | |
Regeneron Pharmaceuticals, Inc. (a) | 944 | 736,216 | |
TG Therapeutics, Inc. (a) | 9,875 | 76,334 | |
2,216,877 | |||
Health Care Equipment & Supplies - 1.5% | |||
Glaukos Corp. (a) | 1,800 | 122,760 | |
Inspire Medical Systems, Inc. (a) | 2,760 | 406,162 | |
Masimo Corp. (a) | 2,477 | 200,959 | |
Penumbra, Inc. (a) | 3,692 | 705,726 | |
TransMedics Group, Inc. (a) | 481 | 18,028 | |
1,453,635 | |||
Health Care Providers & Services - 2.6% | |||
Guardant Health, Inc. (a) | 2,678 | 69,307 | |
LifeStance Health Group, Inc. (a) | 37,998 | 221,528 | |
The Joint Corp. (a) | 1,173 | 9,161 | |
UnitedHealth Group, Inc. | 4,141 | 2,217,754 | |
2,517,750 | |||
Health Care Technology - 0.2% | |||
Doximity, Inc. (a) | 1,932 | 39,471 | |
Evolent Health, Inc. (c) | 7,850 | 191,776 | |
231,247 | |||
Life Sciences Tools & Services - 1.0% | |||
Bruker Corp. | 4,388 | 250,116 | |
Danaher Corp. | 3,922 | 753,102 | |
Stevanato Group SpA (b) | 1,249 | 34,910 | |
1,038,128 | |||
Pharmaceuticals - 0.1% | |||
Ventyx Biosciences, Inc. (a) | 4,650 | 67,053 | |
TOTAL HEALTH CARE | 7,524,690 | ||
INDUSTRIALS - 8.3% | |||
Aerospace & Defense - 0.6% | |||
HEICO Corp. Class A | 4,938 | 627,768 | |
Commercial Services & Supplies - 2.2% | |||
Cintas Corp. | 2,388 | 1,211,003 | |
GFL Environmental, Inc. | 17,222 | 496,338 | |
Veralto Corp. | 1,307 | 90,183 | |
Waste Connections, Inc. (United States) | 3,149 | 407,796 | |
2,205,320 | |||
Construction & Engineering - 0.0% | |||
Bowman Consulting Group Ltd. (a) | 333 | 8,848 | |
Electrical Equipment - 0.0% | |||
Nextracker, Inc. Class A (b) | 400 | 13,904 | |
Ground Transportation - 4.0% | |||
Uber Technologies, Inc. (a) | 89,826 | 3,887,669 | |
Machinery - 0.3% | |||
Symbotic, Inc. (a)(b) | 7,321 | 249,134 | |
Professional Services - 1.2% | |||
TDCX, Inc. ADR (a) | 300 | 1,389 | |
Thomson Reuters Corp. | 9,830 | 1,177,473 | |
1,178,862 | |||
TOTAL INDUSTRIALS | 8,171,505 | ||
INFORMATION TECHNOLOGY - 31.1% | |||
Communications Equipment - 0.4% | |||
Arista Networks, Inc. (a) | 1,745 | 349,646 | |
Electronic Equipment, Instruments & Components - 0.0% | |||
Vontier Corp. | 1,083 | 32,013 | |
IT Services - 4.5% | |||
CGI, Inc. Class A (sub. vtg.) (a) | 890 | 85,923 | |
Cloudflare, Inc. (a) | 6,857 | 388,723 | |
Globant SA (a) | 4,659 | 793,381 | |
MongoDB, Inc. Class A (a) | 3,535 | 1,218,126 | |
Shopify, Inc. Class A (a) | 34,371 | 1,621,967 | |
Snowflake, Inc. (a) | 1,990 | 288,809 | |
4,396,929 | |||
Semiconductors & Semiconductor Equipment - 7.1% | |||
Analog Devices, Inc. | 6,195 | 974,659 | |
Monolithic Power Systems, Inc. | 800 | 353,392 | |
NVIDIA Corp. | 13,862 | 5,652,924 | |
6,980,975 | |||
Software - 19.1% | |||
Adobe, Inc. (a) | 3,804 | 2,023,956 | |
BlackLine, Inc. (a) | 6,903 | 338,937 | |
Confluent, Inc. (a) | 6,253 | 180,774 | |
Dynatrace, Inc. (a) | 16,580 | 741,292 | |
HashiCorp, Inc. (a) | 200 | 3,938 | |
Intuit, Inc. | 2,282 | 1,129,476 | |
Microsoft Corp. | 25,870 | 8,746,904 | |
MicroStrategy, Inc. Class A (a) | 667 | 282,401 | |
nCino, Inc. (a) | 84 | 2,360 | |
Oracle Corp. | 13,430 | 1,388,662 | |
Procore Technologies, Inc. (a) | 3,333 | 203,613 | |
Salesforce, Inc. (a) | 4,924 | 988,887 | |
Samsara, Inc. (a) | 800 | 18,456 | |
Synopsys, Inc. (a) | 1,901 | 892,405 | |
Tenable Holdings, Inc. (a) | 3,985 | 167,808 | |
UiPath, Inc. Class A (a) | 19,398 | 301,251 | |
Workday, Inc. Class A (a) | 5,114 | 1,082,685 | |
Zscaler, Inc. (a) | 1,553 | 246,446 | |
18,740,251 | |||
TOTAL INFORMATION TECHNOLOGY | 30,499,814 | ||
MATERIALS - 2.0% | |||
Metals & Mining - 2.0% | |||
Barrick Gold Corp. | 118,413 | 1,892,240 | |
First Quantum Minerals Ltd. | 9,300 | 107,771 | |
2,000,011 | |||
REAL ESTATE - 1.7% | |||
Equity Real Estate Investment Trusts (REITs) - 1.4% | |||
Equity Residential (SBI) | 11,360 | 628,549 | |
Public Storage | 3,248 | 775,330 | |
1,403,879 | |||
Real Estate Management & Development - 0.3% | |||
Zillow Group, Inc. Class C (a) | 7,966 | 288,768 | |
TOTAL REAL ESTATE | 1,692,647 | ||
TOTAL COMMON STOCKS (Cost $80,442,321) | 95,928,376 | ||
Convertible Preferred Stocks - 0.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(d)(e) | 638 | 149,069 | |
Reddit, Inc. Series E (a)(d)(e) | 200 | 6,230 | |
155,299 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (d)(e) | 17 | 18,142 | |
Series A2 (d)(e) | 3 | 3,202 | |
21,344 | |||
INFORMATION TECHNOLOGY - 0.3% | |||
IT Services - 0.1% | |||
Yanka Industries, Inc.: | |||
Series E (a)(d)(e) | 2,484 | 16,941 | |
Series F (a)(d)(e) | 12,743 | 86,907 | |
103,848 | |||
Software - 0.2% | |||
Evozyne, Inc. Series A (a)(d)(e) | 1,000 | 14,730 | |
Moloco, Inc. Series A (d)(e) | 3,703 | 222,180 | |
236,910 | |||
TOTAL INFORMATION TECHNOLOGY | 340,758 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $780,597) | 517,401 | ||
Money Market Funds - 1.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (f) | 663,423 | 663,555 | |
Fidelity Securities Lending Cash Central Fund 5.40% (f)(g) | 554,920 | 554,975 | |
TOTAL MONEY MARKET FUNDS (Cost $1,218,530) | 1,218,530 | ||
TOTAL INVESTMENT IN SECURITIES - 99.6% (Cost $82,441,448) | 97,664,307 |
NET OTHER ASSETS (LIABILITIES) - 0.4% | 389,848 |
NET ASSETS - 100.0% | 98,054,155 |
(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 $290,672 or 0.3% of net assets. |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $677,490 or 0.7% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
ByteDance Ltd. Series E1 | 11/18/20 | 69,908 |
Canva, Inc. Series A | 9/22/23 | 18,133 |
Canva, Inc. Series A2 | 9/22/23 | 3,200 |
Evozyne, Inc. Series A | 4/09/21 | 22,470 |
Moloco, Inc. Series A | 6/26/23 | 222,180 |
Reddit, Inc. Series E | 5/18/21 | 8,495 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 85,152 |
Yanka Industries, Inc. Series E | 5/15/20 | 30,005 |
Yanka Industries, Inc. Series F | 4/08/21 | 406,206 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 2,147,926 | 13,674,705 | 15,159,076 | 67,265 | - | - | 663,555 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 320,400 | 7,083,013 | 6,848,438 | 3,521 | - | - | 554,975 | 0.0% |
Total | 2,468,326 | 20,757,718 | 22,007,514 | 70,786 | - | - | 1,218,530 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 15,060,892 | 14,905,593 | - | 155,299 |
Consumer Discretionary | 16,505,716 | 15,132,529 | 1,351,843 | 21,344 |
Consumer Staples | 1,611,949 | 1,611,949 | - | - |
Energy | 4,743,047 | 4,426,477 | 316,570 | - |
Financials | 8,294,748 | 8,106,110 | 28,549 | 160,089 |
Health Care | 7,524,690 | 7,524,690 | - | - |
Industrials | 8,171,505 | 8,171,505 | - | - |
Information Technology | 30,840,572 | 30,499,814 | - | 340,758 |
Materials | 2,000,011 | 2,000,011 | - | - |
Real Estate | 1,692,647 | 1,692,647 | - | - |
Money Market Funds | 1,218,530 | 1,218,530 | - | - |
Total Investments in Securities: | 97,664,307 | 95,289,855 | 1,696,962 | 677,490 |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $535,458) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $81,222,918) | $ | 96,445,777 | ||
Fidelity Central Funds (cost $1,218,530) | 1,218,530 | |||
Total Investment in Securities (cost $82,441,448) | $ | 97,664,307 | ||
Receivable for investments sold | 1,301,425 | |||
Receivable for fund shares sold | 43,010 | |||
Dividends receivable | 36,484 | |||
Distributions receivable from Fidelity Central Funds | 5,622 | |||
Prepaid expenses | 137 | |||
Total assets | 99,050,985 | |||
Liabilities | ||||
Payable for investments purchased | $ | 341,346 | ||
Payable for fund shares redeemed | 14,728 | |||
Accrued management fee | 34,634 | |||
Distribution and service plan fees payable | 9,611 | |||
Other affiliated payables | 20,869 | |||
Other payables and accrued expenses | 20,667 | |||
Collateral on securities loaned | 554,975 | |||
Total Liabilities | 996,830 | |||
Net Assets | $ | 98,054,155 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 86,605,164 | ||
Total accumulated earnings (loss) | 11,448,991 | |||
Net Assets | $ | 98,054,155 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($15,727,396 ÷ 1,027,417 shares)(a) | $ | 15.31 | ||
Maximum offering price per share (100/94.25 of $15.31) | $ | 16.24 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($10,202,730 ÷ 671,576 shares)(a) | $ | 15.19 | ||
Maximum offering price per share (100/96.50 of $15.19) | $ | 15.74 | ||
Class C : | ||||
Net Asset Value and offering price per share ($2,304,731 ÷ 154,333 shares)(a) | $ | 14.93 | ||
Fidelity Founders Fund : | ||||
Net Asset Value, offering price and redemption price per share ($60,956,950 ÷ 3,952,816 shares) | $ | 15.42 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($3,425,572 ÷ 222,135 shares) | $ | 15.42 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($5,436,776 ÷ 351,061 shares) | $ | 15.49 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 433,966 | ||
Interest | 30 | |||
Income from Fidelity Central Funds (including $3,521 from security lending) | 70,786 | |||
Total Income | 504,782 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 267,287 | ||
Performance adjustment | (55,816) | |||
Transfer agent fees | 105,024 | |||
Distribution and service plan fees | 54,315 | |||
Accounting fees | 18,082 | |||
Custodian fees and expenses | 4,467 | |||
Independent trustees' fees and expenses | 246 | |||
Registration fees | 26,971 | |||
Audit | 20,990 | |||
Legal | 615 | |||
Miscellaneous | 189 | |||
Total expenses before reductions | 442,370 | |||
Expense reductions | (4,075) | |||
Total expenses after reductions | 438,295 | |||
Net Investment income (loss) | 66,487 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 267,899 | |||
Foreign currency transactions | (2,077) | |||
Total net realized gain (loss) | 265,822 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 830,307 | |||
Assets and liabilities in foreign currencies | (387) | |||
Total change in net unrealized appreciation (depreciation) | 829,920 | |||
Net gain (loss) | 1,095,742 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,162,229 |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 66,487 | $ | 623,204 |
Net realized gain (loss) | 265,822 | (3,924,115) | ||
Change in net unrealized appreciation (depreciation) | 829,920 | (384,550) | ||
Net increase (decrease) in net assets resulting from operations | 1,162,229 | (3,685,461) | ||
Distributions to shareholders | - | (2,274,733) | ||
Share transactions - net increase (decrease) | 3,377,142 | (11,151,975) | ||
Total increase (decrease) in net assets | 4,539,371 | (17,112,169) | ||
Net Assets | ||||
Beginning of period | 93,514,784 | 110,626,953 | ||
End of period | $ | 98,054,155 | $ | 93,514,784 |
Fidelity Advisor® Founders Fund Class A |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.07 | $ | 15.71 | $ | 18.71 | $ | 11.85 | $ | 10.85 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | - D | .07 | - D,E | (.14) | (.05) F | (.02) | ||||||
Net realized and unrealized gain (loss) | .24 | (.38) | (1.88) | 7.00 | 1.05 | .87 | ||||||
Total from investment operations | .24 | (.31) | (1.88) | 6.86 | 1.00 | .85 | ||||||
Distributions from net investment income | - | (.07) | (.02) | - | - D | - | ||||||
Distributions from net realized gain | - | (.26) | (1.11) | - | - | - | ||||||
Total distributions | - | (.33) | (1.12) G | - | - D | - | ||||||
Net asset value, end of period | $ | 15.31 | $ | 15.07 | $ | 15.71 | $ | 18.71 | $ | 11.85 | $ | 10.85 |
Total Return H,I,J | 1.59% | (1.90)% | (10.74)% | 57.89% | 9.25% | 8.50% | ||||||
Ratios to Average Net Assets C,K,L | ||||||||||||
Expenses before reductions | 1.03% M | 1.24% | 1.17% | 1.25% | 2.05% | 4.81% M | ||||||
Expenses net of fee waivers, if any | 1.02% M | 1.15% | 1.15% | 1.25% | 1.25% | 1.25% M | ||||||
Expenses net of all reductions | 1.02% M | 1.15% | 1.15% | 1.24% | 1.25% | 1.25% M | ||||||
Net investment income (loss) | (.03)% M | .49% | -% E,N | (.83)% | (.47)% F | (.74)% M | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 15,727 | $ | 13,884 | $ | 11,013 | $ | 11,606 | $ | 1,310 | $ | 220 |
Portfolio turnover rate O | 34% M | 51% | 47% | 57% | 82% | 4% P |
Fidelity Advisor® Founders Fund Class M |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.97 | $ | 15.62 | $ | 18.62 | $ | 11.82 | $ | 10.85 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | (.02) | .03 | (.04) D | (.17) | (.08) E | (.02) | ||||||
Net realized and unrealized gain (loss) | .24 | (.38) | (1.87) | 6.97 | 1.05 | .87 | ||||||
Total from investment operations | .22 | (.35) | (1.91) | 6.80 | .97 | .85 | ||||||
Distributions from net investment income | - | (.04) | - | - | - | - | ||||||
Distributions from net realized gain | - | (.26) | (1.09) | - | - | - | ||||||
Total distributions | - | (.30) | (1.09) | - | - | - | ||||||
Net asset value, end of period | $ | 15.19 | $ | 14.97 | $ | 15.62 | $ | 18.62 | $ | 11.82 | $ | 10.85 |
Total Return F,G,H | 1.47% | (2.20)% | (10.93)% | 57.53% | 8.94% | 8.50% | ||||||
Ratios to Average Net Assets C,I,J | ||||||||||||
Expenses before reductions | 1.25% K | 1.44% | 1.39% | 1.46% | 2.14% | 5.05% K | ||||||
Expenses net of fee waivers, if any | 1.24% K | 1.40% | 1.38% | 1.46% | 1.50% | 1.50% K | ||||||
Expenses net of all reductions | 1.24% K | 1.40% | 1.38% | 1.45% | 1.50% | 1.50% K | ||||||
Net investment income (loss) | (.25)% K | .24% | (.24)% D | (1.04)% | (.72)% E | (.99)% K | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 10,203 | $ | 8,354 | $ | 8,562 | $ | 7,357 | $ | 695 | $ | 205 |
Portfolio turnover rate L | 34% K | 51% | 47% | 57% | 82% | 4% M |
Fidelity Advisor® Founders Fund Class C |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.76 | $ | 15.43 | $ | 18.41 | $ | 11.75 | $ | 10.84 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | (.06) | (.04) | (.14) D | (.26) | (.13) E | (.03) | ||||||
Net realized and unrealized gain (loss) | .23 | (.37) | (1.84) | 6.92 | 1.04 | .87 | ||||||
Total from investment operations | .17 | (.41) | (1.98) | 6.66 | .91 | .84 | ||||||
Distributions from net realized gain | - | (.26) | (1.00) | - | - | - | ||||||
Total distributions | - | (.26) | (1.00) | - | - | - | ||||||
Net asset value, end of period | $ | 14.93 | $ | 14.76 | $ | 15.43 | $ | 18.41 | $ | 11.75 | $ | 10.84 |
Total Return F,G,H | 1.15% | (2.67)% | (11.40)% | 56.68% | 8.39% | 8.40% | ||||||
Ratios to Average Net Assets C,I,J | ||||||||||||
Expenses before reductions | 1.81% K | 2.01% | 1.99% | 2.04% | 2.64% | 5.67% K | ||||||
Expenses net of fee waivers, if any | 1.80% K | 1.90% | 1.91% | 2.00% | 2.00% | 2.00% K | ||||||
Expenses net of all reductions | 1.80% K | 1.90% | 1.91% | 1.99% | 2.00% | 2.00% K | ||||||
Net investment income (loss) | (.81)% K | (.26)% | (.76)% D | (1.58)% | (1.22)% E | (1.49)% K | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,305 | $ | 1,613 | $ | 1,717 | $ | 2,035 | $ | 335 | $ | 173 |
Portfolio turnover rate L | 34% K | 51% | 47% | 57% | 82% | 4% M |
Fidelity® Founders Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.16 | $ | 15.79 | $ | 18.80 | $ | 11.88 | $ | 10.86 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .02 | .11 | .05 D | (.09) | (.02) E | (.01) | ||||||
Net realized and unrealized gain (loss) | .24 | (.39) | (1.89) | 7.01 | 1.05 | .87 | ||||||
Total from investment operations | .26 | (.28) | (1.84) | 6.92 | 1.03 | .86 | ||||||
Distributions from net investment income | - | (.09) | (.04) | - | (.01) | - | ||||||
Distributions from net realized gain | - | (.26) | (1.13) | - | - | - | ||||||
Total distributions | - | (.35) | (1.17) | - | (.01) | - | ||||||
Net asset value, end of period | $ | 15.42 | $ | 15.16 | $ | 15.79 | $ | 18.80 | $ | 11.88 | $ | 10.86 |
Total Return F,G | 1.72% | (1.69)% | (10.48)% | 58.25% | 9.49% | 8.60% | ||||||
Ratios to Average Net Assets C,H,I | ||||||||||||
Expenses before reductions | .77% J | .98% | .90% | .97% | 1.70% | 3.49% J | ||||||
Expenses net of fee waivers, if any | .77% J | .90% | .90% | .97% | 1.00% | 1.00% J | ||||||
Expenses net of all reductions | .77% J | .90% | .90% | .97% | 1.00% | 1.00% J | ||||||
Net investment income (loss) | .22% J | .74% | .25% D | (.56)% | (.22)% E | (.48)% J | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 60,957 | $ | 62,601 | $ | 69,885 | $ | 96,052 | $ | 22,724 | $ | 10,595 |
Portfolio turnover rate K | 34% J | 51% | 47% | 57% | 82% | 4% L |
Fidelity Advisor® Founders Fund Class I |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.16 | $ | 15.79 | $ | 18.81 | $ | 11.88 | $ | 10.86 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .02 | .11 | .06 D | (.08) | (.02) E | (.01) | ||||||
Net realized and unrealized gain (loss) | .24 | (.39) | (1.89) | 7.01 | 1.05 | .87 | ||||||
Total from investment operations | .26 | (.28) | (1.83) | 6.93 | 1.03 | .86 | ||||||
Distributions from net investment income | - | (.10) | (.05) | - | (.01) | - | ||||||
Distributions from net realized gain | - | (.26) | (1.14) | - | - | - | ||||||
Total distributions | - | (.35) F | (1.19) | - | (.01) | - | ||||||
Net asset value, end of period | $ | 15.42 | $ | 15.16 | $ | 15.79 | $ | 18.81 | $ | 11.88 | $ | 10.86 |
Total Return G,H | 1.72% | (1.64)% | (10.45)% | 58.33% | 9.49% | 8.60% | ||||||
Ratios to Average Net Assets C,I,J | ||||||||||||
Expenses before reductions | .71% K | .88% | .85% | .93% | 1.63% | 4.10% K | ||||||
Expenses net of fee waivers, if any | .70% K | .88% | .85% | .93% | 1.00% | 1.00% K | ||||||
Expenses net of all reductions | .70% K | .88% | .85% | .92% | 1.00% | 1.00% K | ||||||
Net investment income (loss) | .29% K | .76% | .30% D | (.51)% | (.22)% E | (.48)% K | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 3,426 | $ | 2,899 | $ | 1,263 | $ | 1,449 | $ | 467 | $ | 831 |
Portfolio turnover rate L | 34% K | 51% | 47% | 57% | 82% | 4% M |
Fidelity Advisor® Founders Fund Class Z |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.21 | $ | 15.83 | $ | 18.86 | $ | 11.90 | $ | 10.86 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .03 | .13 | .07 D | (.07) | (.01) E | (.01) | ||||||
Net realized and unrealized gain (loss) | .25 | (.39) | (1.89) | 7.03 | 1.06 | .87 | ||||||
Total from investment operations | .28 | (.26) | (1.82) | 6.96 | 1.05 | .86 | ||||||
Distributions from net investment income | - | (.10) | (.06) | - | (.01) | - | ||||||
Distributions from net realized gain | - | (.26) | (1.15) | - | - | - | ||||||
Total distributions | - | (.36) | (1.21) | - | (.01) | - | ||||||
Net asset value, end of period | $ | 15.49 | $ | 15.21 | $ | 15.83 | $ | 18.86 | $ | 11.90 | $ | 10.86 |
Total Return F,G | 1.84% | (1.55)% | (10.37)% | 58.49% | 9.67% | 8.60% | ||||||
Ratios to Average Net Assets C,H,I | ||||||||||||
Expenses before reductions | .60% J | .78% | .76% | .83% | 1.51% | 3.18% J | ||||||
Expenses net of fee waivers, if any | .59% J | .75% | .75% | .83% | .85% | .85% J | ||||||
Expenses net of all reductions | .59% J | .75% | .75% | .82% | .85% | .85% J | ||||||
Net investment income (loss) | .40% J | .89% | .40% D | (.41)% | (.07)% E | (.34)% J | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 5,437 | $ | 4,165 | $ | 18,186 | $ | 21,966 | $ | 6,839 | $ | 5,745 |
Portfolio turnover rate K | 34% J | 51% | 47% | 57% | 82% | 4% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $23,193,311 |
Gross unrealized depreciation | (9,096,997) |
Net unrealized appreciation (depreciation) | $14,096,314 |
Tax cost | $83,567,993 |
Short-term | $(2,794,236) |
Purchases ($) | Sales ($) | |
Fidelity Founders Fund | 21,572,093 | 16,943,941 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $19,652 | $1,448 |
Class M | .25% | .25% | 24,490 | - |
Class C | .75% | .25% | 10,173 | 1,468 |
$54,315 | $2,916 |
Retained by FDC | |
Class A | $3,943 |
Class M | 770 |
Class CA | 5 |
$4,718 |
Amount | % of Class-Level Average Net AssetsA | |
Class A | $17,393 | .22 |
Class M | 9,416 | .19 |
Class C | 2,597 | .26 |
Fidelity Founders Fund | 71,796 | .22 |
Class I | 2,714 | .15 |
Class Z | 1,108 | .04 |
$105,024 |
% of Class-Level Average Net Assets | |
Class A | 0.2000% |
Class M | 0.1886% |
Class C | 0.2000% |
Fidelity Founders Fund | 0.2000% |
Class I | 0.1341% |
% of Average Net Assets | |
Fidelity Founders Fund | .04 |
% of Average Net Assets | |
Fidelity Founders Fund | 0.0353% |
Amount | |
Fidelity Founders Fund | $405 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Founders Fund | 1,113,098 | 1,045,212 | 231,142 |
Amount | |
Fidelity Founders Fund | $83 |
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 Founders Fund | $363 | $- | $- |
Six months ended October 31, 2023 | Year ended April 30, 2023 | |
Fidelity Founders Fund | ||
Distributions to shareholders | ||
Class A | $- | $235,249 |
Class M | - | 166,118 |
Class C | - | 28,666 |
Fidelity Founders Fund | - | 1,504,822 |
Class I | - | 34,844 |
Class Z | - | 305,034 |
Total | $- | $2,274,733 |
Shares | Shares | Dollars | Dollars | |
Six months ended October 31, 2023 | Year ended April 30, 2023 | Six months ended October 31, 2023 | Year ended April 30, 2023 | |
Fidelity Founders Fund | ||||
Class A | ||||
Shares sold | 175,923 | 327,212 | $2,834,589 | $4,701,902 |
Reinvestment of distributions | - | 16,132 | - | 234,268 |
Shares redeemed | (69,788) | (123,004) | (1,106,939) | (1,780,393) |
Net increase (decrease) | 106,135 | 220,340 | $1,727,650 | $3,155,777 |
Class M | ||||
Shares sold | 135,205 | 148,983 | $2,180,858 | $2,165,205 |
Reinvestment of distributions | - | 11,220 | - | 163,460 |
Shares redeemed | (21,550) | (150,485) | (335,325) | (2,119,047) |
Net increase (decrease) | 113,655 | 9,718 | $1,845,533 | $209,618 |
Class C | ||||
Shares sold | 54,940 | 42,163 | $875,692 | $600,290 |
Reinvestment of distributions | - | 1,956 | - | 28,488 |
Shares redeemed | (9,899) | (46,117) | (156,352) | (640,847) |
Net increase (decrease) | 45,041 | (1,998) | $719,340 | $(12,069) |
Fidelity Founders Fund | ||||
Shares sold | 364,894 | 822,803 | $6,020,406 | $11,999,078 |
Reinvestment of distributions | - | 96,400 | - | 1,407,429 |
Shares redeemed | (540,738) | (1,216,913) | (8,688,180) | (17,564,962) |
Net increase (decrease) | (175,844) | (297,710) | $(2,667,774) | $(4,158,455) |
Class I | ||||
Shares sold | 101,401 | 154,835 | $1,666,531 | $2,270,763 |
Reinvestment of distributions | - | 2,412 | - | 34,844 |
Shares redeemed | (70,512) | (46,030) | (1,194,546) | (659,817) |
Net increase (decrease) | 30,889 | 111,217 | $471,985 | $1,645,790 |
Class Z | ||||
Shares sold | 98,716 | 64,002 | $1,633,445 | $959,742 |
Reinvestment of distributions | - | 19,927 | - | 295,980 |
Shares redeemed | (21,420) | (958,761) | (353,037) | (13,248,358) |
Net increase (decrease) | 77,296 | (874,832) | $1,280,408 | $(11,992,636) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Founders Fund | ||||||||||
Class A | 1.02% | |||||||||
Actual | $ 1,000 | $ 1,015.90 | $ 5.17 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.01 | $ 5.18 | |||||||
Class M | 1.24% | |||||||||
Actual | $ 1,000 | $ 1,014.70 | $ 6.28 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.90 | $ 6.29 | |||||||
Class C | 1.80% | |||||||||
Actual | $ 1,000 | $ 1,011.50 | $ 9.10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.09 | $ 9.12 | |||||||
Fidelity® Founders Fund | .77% | |||||||||
Actual | $ 1,000 | $ 1,017.20 | $ 3.90 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.27 | $ 3.91 | |||||||
Class I | .70% | |||||||||
Actual | $ 1,000 | $ 1,017.20 | $ 3.55 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.62 | $ 3.56 | |||||||
Class Z | .59% | |||||||||
Actual | $ 1,000 | $ 1,018.40 | $ 2.99 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.9 | |
Exxon Mobil Corp. | 7.0 | |
General Electric Co. | 6.4 | |
Wells Fargo & Co. | 5.2 | |
Apple, Inc. | 3.0 | |
Bank of America Corp. | 2.4 | |
The Boeing Co. | 2.3 | |
UnitedHealth Group, Inc. | 2.2 | |
Hess Corp. | 2.1 | |
Meta Platforms, Inc. Class A | 2.0 | |
40.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 17.5 | |
Financials | 15.6 | |
Industrials | 14.8 | |
Health Care | 12.8 | |
Energy | 11.7 | |
Communication Services | 9.5 | |
Consumer Staples | 5.2 | |
Consumer Discretionary | 3.2 | |
Materials | 2.3 | |
Utilities | 1.1 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 94.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.5% | |||
Diversified Telecommunication Services - 0.3% | |||
Cellnex Telecom SA (a) | 1,301 | 38,244 | |
Verizon Communications, Inc. | 1,605 | 56,384 | |
94,628 | |||
Entertainment - 0.9% | |||
The Walt Disney Co. (b) | 1,844 | 150,452 | |
Universal Music Group NV | 6,450 | 157,953 | |
308,405 | |||
Interactive Media & Services - 6.1% | |||
Alphabet, Inc.: | |||
Class A (b) | 5,338 | 662,339 | |
Class C (b) | 4,944 | 619,483 | |
Match Group, Inc. (b) | 2,875 | 99,475 | |
Meta Platforms, Inc. Class A (b) | 2,445 | 736,605 | |
Snap, Inc. Class A (b) | 11,210 | 112,212 | |
2,230,114 | |||
Media - 2.2% | |||
Charter Communications, Inc. Class A (b) | 61 | 24,571 | |
Comcast Corp. Class A | 16,026 | 661,714 | |
Interpublic Group of Companies, Inc. | 4,319 | 122,660 | |
808,945 | |||
TOTAL COMMUNICATION SERVICES | 3,442,092 | ||
CONSUMER DISCRETIONARY - 3.2% | |||
Automobile Components - 0.2% | |||
BorgWarner, Inc. | 1,629 | 60,110 | |
Automobiles - 0.0% | |||
General Motors Co. | 683 | 19,261 | |
Broadline Retail - 0.2% | |||
Amazon.com, Inc. (b) | 422 | 56,164 | |
Hotels, Restaurants & Leisure - 1.6% | |||
Amadeus IT Holding SA Class A | 877 | 49,942 | |
Booking Holdings, Inc. (b) | 124 | 345,905 | |
Expedia, Inc. (b) | 626 | 59,652 | |
Marriott International, Inc. Class A | 563 | 106,159 | |
Starbucks Corp. | 407 | 37,542 | |
599,200 | |||
Household Durables - 0.3% | |||
Mohawk Industries, Inc. (b) | 671 | 53,935 | |
Sony Group Corp. sponsored ADR | 454 | 37,705 | |
Whirlpool Corp. | 169 | 17,671 | |
109,311 | |||
Specialty Retail - 0.8% | |||
Lowe's Companies, Inc. | 1,462 | 278,613 | |
RH (b) | 105 | 22,886 | |
301,499 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
NIKE, Inc. Class B | 312 | 32,064 | |
TOTAL CONSUMER DISCRETIONARY | 1,177,609 | ||
CONSUMER STAPLES - 5.2% | |||
Beverages - 1.6% | |||
Diageo PLC sponsored ADR | 908 | 139,378 | |
Keurig Dr. Pepper, Inc. | 4,707 | 142,763 | |
The Coca-Cola Co. | 5,274 | 297,928 | |
580,069 | |||
Consumer Staples Distribution & Retail - 1.4% | |||
Costco Wholesale Corp. | 38 | 20,993 | |
Performance Food Group Co. (b) | 1,198 | 69,196 | |
Sysco Corp. | 2,577 | 171,345 | |
Target Corp. | 799 | 88,521 | |
U.S. Foods Holding Corp. (b) | 1,439 | 56,035 | |
Walmart, Inc. | 583 | 95,268 | |
501,358 | |||
Household Products - 0.0% | |||
Colgate-Palmolive Co. | 43 | 3,230 | |
Procter & Gamble Co. | 51 | 7,652 | |
10,882 | |||
Personal Care Products - 1.5% | |||
Estee Lauder Companies, Inc. Class A | 630 | 81,188 | |
Haleon PLC ADR | 27,088 | 219,142 | |
Kenvue, Inc. | 13,191 | 245,353 | |
545,683 | |||
Tobacco - 0.7% | |||
Altria Group, Inc. | 5,773 | 231,901 | |
Philip Morris International, Inc. | 300 | 26,748 | |
258,649 | |||
TOTAL CONSUMER STAPLES | 1,896,641 | ||
ENERGY - 11.7% | |||
Energy Equipment & Services - 0.0% | |||
Baker Hughes Co. Class A | 185 | 6,368 | |
Oil, Gas & Consumable Fuels - 11.7% | |||
Exxon Mobil Corp. | 24,174 | 2,558,818 | |
Hess Corp. | 5,189 | 749,292 | |
Imperial Oil Ltd. | 5,204 | 296,573 | |
Kosmos Energy Ltd. (b) | 45,136 | 326,785 | |
MEG Energy Corp. (b) | 6,300 | 124,478 | |
Shell PLC ADR | 2,700 | 175,878 | |
4,231,824 | |||
TOTAL ENERGY | 4,238,192 | ||
FINANCIALS - 15.6% | |||
Banks - 10.6% | |||
Bank of America Corp. | 32,829 | 864,716 | |
JPMorgan Chase & Co. | 2,397 | 333,327 | |
M&T Bank Corp. | 677 | 76,332 | |
PNC Financial Services Group, Inc. | 2,880 | 329,674 | |
Truist Financial Corp. | 4,453 | 126,287 | |
U.S. Bancorp | 8,017 | 255,582 | |
Wells Fargo & Co. | 47,074 | 1,872,133 | |
3,858,051 | |||
Capital Markets - 1.7% | |||
Charles Schwab Corp. | 102 | 5,308 | |
CME Group, Inc. | 51 | 10,886 | |
KKR & Co. LP | 3,143 | 174,122 | |
Morgan Stanley | 1,455 | 103,043 | |
Northern Trust Corp. | 3,697 | 243,669 | |
Raymond James Financial, Inc. | 505 | 48,197 | |
State Street Corp. | 341 | 22,039 | |
607,264 | |||
Financial Services - 3.0% | |||
Edenred SA | 1,904 | 101,215 | |
Fidelity National Information Services, Inc. | 1,399 | 68,705 | |
Global Payments, Inc. | 265 | 28,148 | |
MasterCard, Inc. Class A | 348 | 130,970 | |
PayPal Holdings, Inc. (b) | 852 | 44,134 | |
Radian Group, Inc. | 2,257 | 57,192 | |
Visa, Inc. Class A | 2,841 | 667,919 | |
1,098,283 | |||
Insurance - 0.3% | |||
Chubb Ltd. | 555 | 119,114 | |
TOTAL FINANCIALS | 5,682,712 | ||
HEALTH CARE - 12.8% | |||
Biotechnology - 0.6% | |||
Alnylam Pharmaceuticals, Inc. (b) | 349 | 52,978 | |
Argenx SE ADR (b) | 90 | 42,261 | |
Insmed, Inc. (b) | 1,428 | 35,786 | |
Vaxcyte, Inc. (b) | 1,371 | 65,945 | |
Verve Therapeutics, Inc. (b)(c) | 414 | 4,985 | |
201,955 | |||
Health Care Equipment & Supplies - 2.4% | |||
Abbott Laboratories | 170 | 16,074 | |
Becton, Dickinson & Co. | 330 | 83,417 | |
Boston Scientific Corp. (b) | 9,631 | 493,011 | |
GE Healthcare Holding LLC | 3,893 | 259,157 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) | 1,540 | 29,198 | |
880,857 | |||
Health Care Providers & Services - 6.0% | |||
Cardinal Health, Inc. | 2,334 | 212,394 | |
Centene Corp. (b) | 266 | 18,349 | |
Cigna Group | 1,595 | 493,174 | |
CVS Health Corp. | 2,848 | 196,540 | |
Guardant Health, Inc. (b) | 1,042 | 26,967 | |
Humana, Inc. | 115 | 60,224 | |
McKesson Corp. | 849 | 386,601 | |
UnitedHealth Group, Inc. | 1,465 | 784,595 | |
2,178,844 | |||
Life Sciences Tools & Services - 0.3% | |||
Danaher Corp. | 539 | 103,499 | |
Thermo Fisher Scientific, Inc. | 35 | 15,567 | |
119,066 | |||
Pharmaceuticals - 3.5% | |||
Bristol-Myers Squibb Co. | 8,350 | 430,276 | |
Eli Lilly & Co. | 525 | 290,813 | |
GSK PLC sponsored ADR | 6,175 | 220,448 | |
Johnson & Johnson | 1,561 | 231,559 | |
Sanofi SA sponsored ADR | 510 | 23,078 | |
UCB SA | 1,000 | 73,072 | |
1,269,246 | |||
TOTAL HEALTH CARE | 4,649,968 | ||
INDUSTRIALS - 14.6% | |||
Aerospace & Defense - 3.5% | |||
Airbus Group NV | 1,372 | 183,953 | |
General Dynamics Corp. | 411 | 99,178 | |
Howmet Aerospace, Inc. | 100 | 4,410 | |
Huntington Ingalls Industries, Inc. | 263 | 57,813 | |
RTX Corp. | 413 | 33,614 | |
Safran SA | 264 | 41,242 | |
Textron, Inc. | 306 | 23,256 | |
The Boeing Co. (b) | 4,399 | 821,821 | |
1,265,287 | |||
Air Freight & Logistics - 1.5% | |||
FedEx Corp. | 677 | 162,548 | |
United Parcel Service, Inc. Class B | 2,695 | 380,669 | |
543,217 | |||
Building Products - 0.1% | |||
Johnson Controls International PLC | 489 | 23,971 | |
Commercial Services & Supplies - 0.2% | |||
ACV Auctions, Inc. Class A (b) | 2,722 | 36,284 | |
Veralto Corp. | 339 | 23,391 | |
59,675 | |||
Electrical Equipment - 1.3% | |||
Acuity Brands, Inc. | 534 | 86,492 | |
Hubbell, Inc. Class B | 360 | 97,236 | |
Regal Rexnord Corp. | 530 | 62,757 | |
Vertiv Holdings Co. | 6,135 | 240,921 | |
487,406 | |||
Ground Transportation - 0.4% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 2,739 | 133,910 | |
Industrial Conglomerates - 6.4% | |||
3M Co. | 274 | 24,920 | |
General Electric Co. | 21,331 | 2,317,187 | |
2,342,107 | |||
Machinery - 0.9% | |||
Chart Industries, Inc. (b) | 440 | 51,141 | |
Cummins, Inc. | 216 | 46,721 | |
Fortive Corp. | 1,026 | 66,977 | |
Nordson Corp. | 30 | 6,378 | |
Otis Worldwide Corp. | 594 | 45,863 | |
Stanley Black & Decker, Inc. | 444 | 37,762 | |
Westinghouse Air Brake Tech Co. | 601 | 63,718 | |
318,560 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 98 | 8,002 | |
Ryanair Holdings PLC sponsored ADR (b) | 295 | 25,872 | |
33,874 | |||
Professional Services - 0.2% | |||
Equifax, Inc. | 129 | 21,875 | |
Genpact Ltd. | 1,168 | 39,175 | |
Paycom Software, Inc. | 95 | 23,272 | |
84,322 | |||
Trading Companies & Distributors - 0.0% | |||
Beijer Ref AB (B Shares) | 1,365 | 12,926 | |
TOTAL INDUSTRIALS | 5,305,255 | ||
INFORMATION TECHNOLOGY - 17.5% | |||
IT Services - 0.4% | |||
EPAM Systems, Inc. (b) | 125 | 27,196 | |
IBM Corp. | 349 | 50,479 | |
Snowflake, Inc. (b) | 71 | 10,304 | |
Twilio, Inc. Class A (b) | 874 | 44,801 | |
132,780 | |||
Semiconductors & Semiconductor Equipment - 3.4% | |||
Analog Devices, Inc. | 367 | 57,740 | |
Applied Materials, Inc. | 684 | 90,527 | |
Broadcom, Inc. | 128 | 107,695 | |
Lam Research Corp. | 133 | 78,233 | |
Marvell Technology, Inc. | 4,482 | 211,640 | |
NVIDIA Corp. | 1,099 | 448,172 | |
Qualcomm, Inc. | 1,242 | 135,366 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,316 | 113,584 | |
1,242,957 | |||
Software - 10.6% | |||
Adobe, Inc. (b) | 643 | 342,115 | |
Autodesk, Inc. (b) | 384 | 75,890 | |
DoubleVerify Holdings, Inc. (b) | 496 | 13,804 | |
Elastic NV (b) | 1,024 | 76,841 | |
Intuit, Inc. | 201 | 99,485 | |
Microsoft Corp. | 8,497 | 2,872,915 | |
PTC, Inc. (b) | 290 | 40,722 | |
Sage Group PLC | 900 | 10,617 | |
Salesforce, Inc. (b) | 144 | 28,920 | |
SAP SE sponsored ADR | 2,079 | 278,586 | |
Workday, Inc. Class A (b) | 98 | 20,748 | |
3,860,643 | |||
Technology Hardware, Storage & Peripherals - 3.1% | |||
Apple, Inc. | 6,268 | 1,070,386 | |
Samsung Electronics Co. Ltd. | 687 | 34,145 | |
1,104,531 | |||
TOTAL INFORMATION TECHNOLOGY | 6,340,911 | ||
MATERIALS - 2.3% | |||
Chemicals - 0.6% | |||
DuPont de Nemours, Inc. | 2,170 | 158,150 | |
LyondellBasell Industries NV Class A | 598 | 53,964 | |
Sherwin-Williams Co. | 56 | 13,340 | |
225,454 | |||
Metals & Mining - 1.7% | |||
First Quantum Minerals Ltd. | 16,562 | 191,925 | |
Freeport-McMoRan, Inc. | 11,237 | 379,586 | |
Ivanhoe Mines Ltd. (b) | 3,700 | 27,268 | |
598,779 | |||
TOTAL MATERIALS | 824,233 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
American Tower Corp. | 510 | 90,877 | |
Crown Castle International Corp. | 1,386 | 128,870 | |
Equinix, Inc. | 13 | 9,485 | |
Simon Property Group, Inc. | 1,314 | 144,395 | |
373,627 | |||
UTILITIES - 1.1% | |||
Electric Utilities - 1.1% | |||
Duke Energy Corp. | 100 | 8,889 | |
Entergy Corp. | 279 | 26,670 | |
PG&E Corp. (b) | 3,129 | 51,003 | |
Southern Co. | 4,747 | 319,473 | |
406,035 | |||
Multi-Utilities - 0.0% | |||
Sempra | 162 | 11,345 | |
TOTAL UTILITIES | 417,380 | ||
TOTAL COMMON STOCKS (Cost $24,897,869) | 34,348,620 | ||
Preferred Stocks - 0.2% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.0% | |||
COMMUNICATION SERVICES - 0.0% | |||
Interactive Media & Services - 0.0% | |||
Reddit, Inc. Series E (b)(d)(e) | 200 | 6,230 | |
Nonconvertible Preferred Stocks - 0.2% | |||
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Embraer SA sponsored ADR (b) | 3,670 | 51,160 | |
TOTAL PREFERRED STOCKS (Cost $52,030) | 57,390 | ||
Money Market Funds - 5.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (f) | 1,949,333 | 1,949,722 | |
Fidelity Securities Lending Cash Central Fund 5.40% (f)(g) | 3,900 | 3,900 | |
TOTAL MONEY MARKET FUNDS (Cost $1,953,622) | 1,953,622 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $26,903,521) | 36,359,632 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (21,930) |
NET ASSETS - 100.0% | 36,337,702 |
(a) | 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 $38,244 or 0.1% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $6,230 or 0.0% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Reddit, Inc. Series E | 5/18/21 | 8,495 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 2,238,481 | 4,072,340 | 4,361,099 | 54,312 | - | - | 1,949,722 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 276,625 | 132,549 | 405,274 | 1,321 | - | - | 3,900 | 0.0% |
Total | 2,515,106 | 4,204,889 | 4,766,373 | 55,633 | - | - | 1,953,622 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 3,448,322 | 3,245,895 | 196,197 | 6,230 |
Consumer Discretionary | 1,177,609 | 1,177,609 | - | - |
Consumer Staples | 1,896,641 | 1,896,641 | - | - |
Energy | 4,238,192 | 4,238,192 | - | - |
Financials | 5,682,712 | 5,682,712 | - | - |
Health Care | 4,649,968 | 4,649,968 | - | - |
Industrials | 5,356,415 | 5,131,220 | 225,195 | - |
Information Technology | 6,340,911 | 6,306,766 | 34,145 | - |
Materials | 824,233 | 824,233 | - | - |
Real Estate | 373,627 | 373,627 | - | - |
Utilities | 417,380 | 417,380 | - | - |
Money Market Funds | 1,953,622 | 1,953,622 | - | - |
Total Investments in Securities: | 36,359,632 | 35,897,865 | 455,537 | 6,230 |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $4,816) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $24,949,899) | $ | 34,406,010 | ||
Fidelity Central Funds (cost $1,953,622) | 1,953,622 | |||
Total Investment in Securities (cost $26,903,521) | $ | 36,359,632 | ||
Cash | 11,763 | |||
Foreign currency held at value (cost $7,455) | 7,455 | |||
Receivable for investments sold | 27,449 | |||
Receivable for fund shares sold | 7,638 | |||
Dividends receivable | 23,718 | |||
Distributions receivable from Fidelity Central Funds | 9,794 | |||
Total assets | 36,447,449 | |||
Liabilities | ||||
Payable for investments purchased | $ | 90,330 | ||
Payable for fund shares redeemed | 1,671 | |||
Accrued management fee | 13,846 | |||
Collateral on securities loaned | 3,900 | |||
Total Liabilities | 109,747 | |||
Net Assets | $ | 36,337,702 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 26,586,882 | ||
Total accumulated earnings (loss) | 9,750,820 | |||
Net Assets | $ | 36,337,702 | ||
Net Asset Value, offering price and redemption price per share ($36,337,702 ÷ 3,145,921 shares) | $ | 11.55 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 298,642 | ||
Income from Fidelity Central Funds (including $1,321 from security lending) | 55,633 | |||
Total Income | 354,275 | |||
Expenses | ||||
Management fee | $ | 80,329 | ||
Independent trustees' fees and expenses | 85 | |||
Total expenses before reductions | 80,414 | |||
Expense reductions | (159) | |||
Total expenses after reductions | 80,255 | |||
Net Investment income (loss) | 274,020 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 429,600 | |||
Foreign currency transactions | 75 | |||
Total net realized gain (loss) | 429,675 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (632,527) | |||
Assets and liabilities in foreign currencies | (22) | |||
Total change in net unrealized appreciation (depreciation) | (632,549) | |||
Net gain (loss) | (202,874) | |||
Net increase (decrease) in net assets resulting from operations | $ | 71,146 |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 274,020 | $ | 643,358 |
Net realized gain (loss) | 429,675 | 2,022,536 | ||
Change in net unrealized appreciation (depreciation) | (632,549) | (2,401,297) | ||
Net increase (decrease) in net assets resulting from operations | 71,146 | 264,597 | ||
Distributions to shareholders | (461,860) | (12,370,579) | ||
Share transactions | ||||
Proceeds from sales of shares | 5,907,194 | 24,577,557 | ||
Reinvestment of distributions | 461,860 | 12,370,579 | ||
Cost of shares redeemed | (3,126,971) | (36,450,472) | ||
Net increase (decrease) in net assets resulting from share transactions | 3,242,083 | 497,664 | ||
Total increase (decrease) in net assets | 2,851,369 | (11,608,318) | ||
Net Assets | ||||
Beginning of period | 33,486,333 | 45,094,651 | ||
End of period | $ | 36,337,702 | $ | 33,486,333 |
Other Information | ||||
Shares | ||||
Sold | 489,994 | 1,974,639 | ||
Issued in reinvestment of distributions | 39,442 | 1,106,300 | ||
Redeemed | (261,618) | (3,346,634) | ||
Net increase (decrease) | 267,818 | (265,695) | ||
Fidelity® Large Cap Stock K6 Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 11.63 | $ | 14.34 | $ | 15.41 | $ | 10.37 | $ | 11.61 | $ | 11.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 | .19 | .30 C | .22 | .23 | .23 | ||||||
Net realized and unrealized gain (loss) | (.01) | .92 D | (.36) D | 5.27 | (1.15) | .84 | ||||||
Total from investment operations | .08 | 1.11 | (.06) | 5.49 | (.92) | 1.07 | ||||||
Distributions from net investment income | (.06) | (.28) | (.30) | (.25) | (.24) | (.20) | ||||||
Distributions from net realized gain | (.11) | (3.54) | (.71) | (.20) | (.08) | (.26) | ||||||
Total distributions | (.16) E | (3.82) | (1.01) | (.45) | (.32) | (.46) | ||||||
Net asset value, end of period | $ | 11.55 | $ | 11.63 | $ | 14.34 | $ | 15.41 | $ | 10.37 | $ | 11.61 |
Total Return F,G | .67% | 11.14% | (.72)% | 54.03% | (8.32)% | 10.12% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .45% J | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of fee waivers, if any | .45% J | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of all reductions | .45% J | .45% | .45% | .45% | .45% | .44% | ||||||
Net investment income (loss) | 1.54% J | 1.65% | 1.95% C | 1.80% | 2.05% | 2.09% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 36,338 | $ | 33,486 | $ | 45,095 | $ | 72,208 | $ | 70,742 | $ | 87,168 |
Portfolio turnover rate K | 11% J | 27% L | 18% L | 19% L | 30% L | 49% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $10,377,988 |
Gross unrealized depreciation | (1,317,088) |
Net unrealized appreciation (depreciation) | $9,060,900 |
Tax cost | $27,298,732 |
Purchases ($) | Sales ($) | |
Fidelity Large Cap Stock K6 Fund | 5,253,885 | 1,810,126 |
Shares | Total Proceeds ($) | |
Fidelity Large Cap Stock K6 Fund | 554,943 | 7,554,605 |
Amount | |
Fidelity Large Cap Stock K6 Fund | $ 190 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Large Cap Stock K6 Fund | 333,505 | 53,321 | 14,643 |
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 Stock K6 Fund | $131 | $ - | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Large Cap Stock K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,006.70 | $ 2.27 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.87 | $ 2.29 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Arch Capital Group Ltd. | 2.1 | |
Molina Healthcare, Inc. | 2.0 | |
Hess Corp. | 1.9 | |
Imperial Oil Ltd. | 1.7 | |
Cheniere Energy, Inc. | 1.7 | |
AECOM | 1.5 | |
Performance Food Group Co. | 1.4 | |
American Financial Group, Inc. | 1.4 | |
RenaissanceRe Holdings Ltd. | 1.3 | |
Wyndham Hotels & Resorts, Inc. | 1.3 | |
16.3 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 22.8 | |
Financials | 16.4 | |
Consumer Discretionary | 11.4 | |
Energy | 9.9 | |
Health Care | 7.2 | |
Materials | 6.5 | |
Information Technology | 6.3 | |
Consumer Staples | 5.8 | |
Utilities | 5.3 | |
Real Estate | 4.9 | |
Communication Services | 2.5 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 98.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.5% | |||
Entertainment - 1.7% | |||
Endeavor Group Holdings, Inc. (a) | 292,899 | 6,666,381 | |
Liberty Media Corp. Liberty Formula One Class A | 43,121 | 2,481,614 | |
Warner Music Group Corp. Class A | 169,571 | 5,307,572 | |
14,455,567 | |||
Interactive Media & Services - 0.4% | |||
Ziff Davis, Inc. (b) | 50,445 | 3,049,905 | |
Media - 0.4% | |||
Cable One, Inc. (a) | 5,867 | 3,226,087 | |
TOTAL COMMUNICATION SERVICES | 20,731,559 | ||
CONSUMER DISCRETIONARY - 11.4% | |||
Automobile Components - 1.2% | |||
American Axle & Manufacturing Holdings, Inc. (b) | 453,396 | 3,060,423 | |
Aptiv PLC (b) | 74,569 | 6,502,417 | |
9,562,840 | |||
Diversified Consumer Services - 1.3% | |||
Duolingo, Inc. (b) | 19,124 | 2,793,060 | |
H&R Block, Inc. | 191,270 | 7,851,634 | |
10,644,694 | |||
Hotels, Restaurants & Leisure - 4.5% | |||
ARAMARK Holdings Corp. | 216,478 | 5,829,753 | |
Caesars Entertainment, Inc. (b) | 78,275 | 3,122,390 | |
Churchill Downs, Inc. | 76,029 | 8,351,025 | |
Domino's Pizza, Inc. | 16,229 | 5,501,469 | |
Vail Resorts, Inc. | 20,177 | 4,282,568 | |
Wyndham Hotels & Resorts, Inc. | 150,342 | 10,884,761 | |
37,971,966 | |||
Household Durables - 1.4% | |||
D.R. Horton, Inc. | 39,987 | 4,174,643 | |
Mohawk Industries, Inc. (b) | 22,848 | 1,836,522 | |
NVR, Inc. (b) | 1,085 | 5,872,693 | |
11,883,858 | |||
Specialty Retail - 0.3% | |||
Best Buy Co., Inc. | 33,424 | 2,233,392 | |
Textiles, Apparel & Luxury Goods - 2.7% | |||
Brunello Cucinelli SpA | 128,064 | 10,278,018 | |
PVH Corp. | 108,453 | 8,063,481 | |
Tapestry, Inc. | 164,521 | 4,534,199 | |
22,875,698 | |||
TOTAL CONSUMER DISCRETIONARY | 95,172,448 | ||
CONSUMER STAPLES - 5.8% | |||
Beverages - 1.2% | |||
Boston Beer Co., Inc. Class A (b) | 13,776 | 4,600,495 | |
Keurig Dr. Pepper, Inc. | 166,532 | 5,050,916 | |
9,651,411 | |||
Consumer Staples Distribution & Retail - 2.7% | |||
Albertsons Companies, Inc. | 190,214 | 4,127,644 | |
BJ's Wholesale Club Holdings, Inc. (b) | 97,492 | 6,641,155 | |
Performance Food Group Co. (b) | 203,156 | 11,734,291 | |
22,503,090 | |||
Food Products - 1.2% | |||
Bowery Farming, Inc. warrants (b)(c)(d) | 10,540 | 43,530 | |
Bunge Ltd. | 34,552 | 3,661,821 | |
Freshpet, Inc. (a)(b) | 47,588 | 2,731,551 | |
Nomad Foods Ltd. (b) | 243,552 | 3,365,889 | |
9,802,791 | |||
Household Products - 0.7% | |||
Energizer Holdings, Inc. | 121,233 | 3,828,538 | |
Reynolds Consumer Products, Inc. | 91,667 | 2,331,092 | |
6,159,630 | |||
TOTAL CONSUMER STAPLES | 48,116,922 | ||
ENERGY - 9.9% | |||
Energy Equipment & Services - 1.3% | |||
Expro Group Holdings NV (b) | 255,381 | 4,022,251 | |
NOV, Inc. | 319,049 | 6,368,218 | |
10,390,469 | |||
Oil, Gas & Consumable Fuels - 8.6% | |||
Canadian Natural Resources Ltd. | 141,423 | 8,980,501 | |
Cheniere Energy, Inc. | 84,811 | 14,114,247 | |
Energy Transfer LP | 461,322 | 6,066,384 | |
Golar LNG Ltd. | 186,438 | 4,181,804 | |
Hess Corp. | 109,132 | 15,758,661 | |
Imperial Oil Ltd. | 249,065 | 14,194,056 | |
Range Resources Corp. | 248,178 | 8,894,700 | |
72,190,353 | |||
TOTAL ENERGY | 82,580,822 | ||
FINANCIALS - 16.4% | |||
Banks - 5.0% | |||
BOK Financial Corp. | 58,854 | 3,856,114 | |
First Horizon National Corp. | 631,693 | 6,790,700 | |
Huntington Bancshares, Inc. | 501,295 | 4,837,497 | |
M&T Bank Corp. | 59,526 | 6,711,557 | |
PNC Financial Services Group, Inc. | 44,656 | 5,111,772 | |
U.S. Bancorp | 190,638 | 6,077,539 | |
Wintrust Financial Corp. | 117,472 | 8,773,984 | |
42,159,163 | |||
Capital Markets - 1.4% | |||
Cboe Global Markets, Inc. | 25,059 | 4,106,920 | |
Lazard Ltd. Class A | 98,818 | 2,744,176 | |
Raymond James Financial, Inc. | 49,215 | 4,697,080 | |
11,548,176 | |||
Financial Services - 1.2% | |||
Radian Group, Inc. | 343,897 | 8,714,350 | |
Shift4 Payments, Inc. (b) | 24,294 | 1,081,569 | |
9,795,919 | |||
Insurance - 8.8% | |||
American Financial Group, Inc. | 103,781 | 11,349,490 | |
Arch Capital Group Ltd. (b) | 207,959 | 18,025,877 | |
Assurant, Inc. | 28,119 | 4,186,919 | |
Beazley PLC | 538,088 | 3,364,928 | |
First American Financial Corp. | 140,479 | 7,226,240 | |
Globe Life, Inc. | 27,200 | 3,164,992 | |
Hartford Financial Services Group, Inc. | 83,008 | 6,096,938 | |
Hiscox Ltd. | 355,880 | 4,057,360 | |
RenaissanceRe Holdings Ltd. | 50,695 | 11,132,115 | |
The Travelers Companies, Inc. | 28,788 | 4,820,263 | |
73,425,122 | |||
TOTAL FINANCIALS | 136,928,380 | ||
HEALTH CARE - 7.1% | |||
Biotechnology - 0.7% | |||
Repligen Corp. (a)(b) | 43,520 | 5,856,051 | |
Health Care Equipment & Supplies - 1.5% | |||
Hologic, Inc. (b) | 109,355 | 7,236,020 | |
Inspire Medical Systems, Inc. (b) | 11,198 | 1,647,898 | |
Masimo Corp. (b) | 41,875 | 3,397,319 | |
12,281,237 | |||
Health Care Providers & Services - 3.6% | |||
Centene Corp. (b) | 124,660 | 8,599,047 | |
Henry Schein, Inc. (b) | 55,414 | 3,600,802 | |
LifeStance Health Group, Inc. (b) | 213,637 | 1,245,504 | |
Molina Healthcare, Inc. (b) | 49,941 | 16,627,856 | |
30,073,209 | |||
Health Care Technology - 0.2% | |||
Evolent Health, Inc. (e) | 63,000 | 1,539,090 | |
Life Sciences Tools & Services - 0.4% | |||
Charles River Laboratories International, Inc. (b) | 22,120 | 3,724,123 | |
Pharmaceuticals - 0.7% | |||
Recordati SpA | 73,703 | 3,400,152 | |
UCB SA | 37,100 | 2,710,986 | |
6,111,138 | |||
TOTAL HEALTH CARE | 59,584,848 | ||
INDUSTRIALS - 22.6% | |||
Aerospace & Defense - 2.4% | |||
BWX Technologies, Inc. | 85,375 | 6,341,655 | |
Huntington Ingalls Industries, Inc. | 30,155 | 6,628,672 | |
Woodward, Inc. | 55,138 | 6,875,709 | |
19,846,036 | |||
Air Freight & Logistics - 0.5% | |||
GXO Logistics, Inc. (b) | 76,206 | 3,849,165 | |
Building Products - 2.1% | |||
Builders FirstSource, Inc. (b) | 30,871 | 3,350,121 | |
Hayward Holdings, Inc. (b) | 172,122 | 1,807,281 | |
Johnson Controls International PLC | 77,949 | 3,821,060 | |
Owens Corning | 76,859 | 8,713,505 | |
17,691,967 | |||
Commercial Services & Supplies - 1.0% | |||
GFL Environmental, Inc. | 296,803 | 8,550,409 | |
Construction & Engineering - 2.1% | |||
AECOM | 160,160 | 12,260,248 | |
Willscot Mobile Mini Holdings (b) | 134,788 | 5,311,995 | |
17,572,243 | |||
Electrical Equipment - 3.7% | |||
Acuity Brands, Inc. | 43,127 | 6,985,280 | |
Generac Holdings, Inc. (b) | 48,143 | 4,047,382 | |
Regal Rexnord Corp. | 79,910 | 9,462,143 | |
Sensata Technologies, Inc. PLC | 122,172 | 3,894,843 | |
Vertiv Holdings Co. | 178,664 | 7,016,135 | |
31,405,783 | |||
Ground Transportation - 1.0% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 173,000 | 8,457,970 | |
Machinery - 5.3% | |||
Allison Transmission Holdings, Inc. | 131,244 | 6,617,322 | |
Chart Industries, Inc. (a)(b) | 80,242 | 9,326,528 | |
Crane Co. | 71,288 | 6,938,461 | |
Donaldson Co., Inc. (a) | 153,251 | 8,836,453 | |
Energy Recovery, Inc. (b) | 81,456 | 1,238,131 | |
Fortive Corp. | 106,690 | 6,964,723 | |
PACCAR, Inc. | 50,469 | 4,165,207 | |
44,086,825 | |||
Marine Transportation - 0.5% | |||
Kirby Corp. (b) | 60,456 | 4,516,063 | |
Professional Services - 3.5% | |||
Leidos Holdings, Inc. | 57,146 | 5,664,312 | |
Science Applications International Corp. | 58,381 | 6,377,540 | |
SS&C Technologies Holdings, Inc. | 76,652 | 3,851,763 | |
TransUnion Holding Co., Inc. | 109,093 | 4,787,001 | |
WNS Holdings Ltd. sponsored ADR (b) | 156,553 | 8,503,959 | |
29,184,575 | |||
Trading Companies & Distributors - 0.5% | |||
Beacon Roofing Supply, Inc. (b) | 57,064 | 4,061,245 | |
TOTAL INDUSTRIALS | 189,222,281 | ||
INFORMATION TECHNOLOGY - 6.3% | |||
Communications Equipment - 0.3% | |||
Lumentum Holdings, Inc. (b) | 72,998 | 2,862,252 | |
Electronic Equipment, Instruments & Components - 2.7% | |||
Crane Nxt Co. | 114,971 | 5,978,492 | |
Fabrinet (b) | 50,251 | 7,788,905 | |
Flex Ltd. (b) | 259,987 | 6,686,866 | |
Keysight Technologies, Inc. (b) | 19,316 | 2,357,518 | |
22,811,781 | |||
IT Services - 1.5% | |||
Amdocs Ltd. | 75,701 | 6,068,192 | |
MongoDB, Inc. Class A (b) | 18,458 | 6,360,442 | |
12,428,634 | |||
Semiconductors & Semiconductor Equipment - 0.3% | |||
Skyworks Solutions, Inc. | 32,757 | 2,841,342 | |
Software - 1.5% | |||
Aspen Technology, Inc. (b) | 21,048 | 3,741,282 | |
Dynatrace, Inc. (b) | 187,832 | 8,397,969 | |
12,139,251 | |||
TOTAL INFORMATION TECHNOLOGY | 53,083,260 | ||
MATERIALS - 6.5% | |||
Chemicals - 2.7% | |||
Cabot Corp. | 86,300 | 5,737,224 | |
Celanese Corp. Class A | 31,849 | 3,647,029 | |
CF Industries Holdings, Inc. | 63,587 | 5,072,971 | |
Nutrien Ltd. | 58,412 | 3,137,210 | |
Westlake Corp. | 46,617 | 5,377,737 | |
22,972,171 | |||
Containers & Packaging - 1.4% | |||
Avery Dennison Corp. | 24,930 | 4,339,565 | |
O-I Glass, Inc. (b) | 461,952 | 7,137,158 | |
11,476,723 | |||
Metals & Mining - 2.4% | |||
Commercial Metals Co. | 167,556 | 7,085,943 | |
First Quantum Minerals Ltd. | 123,904 | 1,435,830 | |
Franco-Nevada Corp. | 39,099 | 4,756,446 | |
Freeport-McMoRan, Inc. | 149,498 | 5,050,042 | |
Novagold Resources, Inc. (b) | 490,759 | 1,709,296 | |
20,037,557 | |||
TOTAL MATERIALS | 54,486,451 | ||
REAL ESTATE - 4.9% | |||
Equity Real Estate Investment Trusts (REITs) - 4.4% | |||
Essex Property Trust, Inc. | 12,668 | 2,709,939 | |
Gaming & Leisure Properties | 156,758 | 7,115,246 | |
Omega Healthcare Investors, Inc. | 152,308 | 5,041,395 | |
Realty Income Corp. | 74,741 | 3,541,229 | |
Spirit Realty Capital, Inc. | 140,982 | 5,073,942 | |
Ventas, Inc. | 91,584 | 3,888,657 | |
VICI Properties, Inc. | 243,912 | 6,805,145 | |
Welltower, Inc. | 31,306 | 2,617,495 | |
36,793,048 | |||
Real Estate Management & Development - 0.5% | |||
Jones Lang LaSalle, Inc. (b) | 31,660 | 4,049,947 | |
TOTAL REAL ESTATE | 40,842,995 | ||
UTILITIES - 5.3% | |||
Electric Utilities - 3.0% | |||
Alliant Energy Corp. | 139,782 | 6,819,964 | |
FirstEnergy Corp. | 128,416 | 4,571,610 | |
IDACORP, Inc. | 62,466 | 5,916,155 | |
OGE Energy Corp. | 235,921 | 8,068,498 | |
25,376,227 | |||
Gas Utilities - 0.7% | |||
Atmos Energy Corp. | 54,305 | 5,846,476 | |
Independent Power and Renewable Electricity Producers - 1.1% | |||
The AES Corp. | 186,004 | 2,771,460 | |
Vistra Corp. | 202,082 | 6,612,123 | |
9,383,583 | |||
Multi-Utilities - 0.5% | |||
NiSource, Inc. | 148,486 | 3,735,908 | |
TOTAL UTILITIES | 44,342,194 | ||
TOTAL COMMON STOCKS (Cost $801,576,692) | 825,092,160 | ||
Convertible Preferred Stocks - 0.3% | |||
Shares | Value ($) | ||
CONSUMER STAPLES - 0.0% | |||
Food Products - 0.0% | |||
Bowery Farming, Inc.: | |||
Series C1 (b)(c)(d) | 19,457 | 155,072 | |
Series D1 (c)(d) | 10,540 | 56,073 | |
211,145 | |||
HEALTH CARE - 0.1% | |||
Biotechnology - 0.1% | |||
National Resilience, Inc. Series B (b)(c)(d) | 15,539 | 943,683 | |
INDUSTRIALS - 0.2% | |||
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series B, 6.00% (b)(c)(d) | 11,901 | 1,224,494 | |
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $2,711,945) | 2,379,322 | ||
Money Market Funds - 2.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (f) | 3,514,115 | 3,514,818 | |
Fidelity Securities Lending Cash Central Fund 5.40% (f)(g) | 18,249,809 | 18,251,634 | |
TOTAL MONEY MARKET FUNDS (Cost $21,766,452) | 21,766,452 | ||
TOTAL INVESTMENT IN SECURITIES - 101.6% (Cost $826,055,089) | 849,237,934 |
NET OTHER ASSETS (LIABILITIES) - (1.6)% | (13,040,335) |
NET ASSETS - 100.0% | 836,197,599 |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $2,422,852 or 0.3% of net assets. |
(d) | Level 3 security |
(e) | 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 $1,539,090 or 0.2% of net assets. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 1,227,826 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 1,172,271 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 99,585 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
National Resilience, Inc. Series B | 12/01/20 | 212,263 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 19,537,899 | 95,999,226 | 112,022,307 | 319,209 | - | - | 3,514,818 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 23,296,425 | 84,103,357 | 89,148,148 | 7,420 | - | - | 18,251,634 | 0.1% |
Total | 42,834,324 | 180,102,583 | 201,170,455 | 326,629 | - | - | 21,766,452 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 20,731,559 | 20,731,559 | - | - |
Consumer Discretionary | 95,172,448 | 95,172,448 | - | - |
Consumer Staples | 48,328,067 | 48,073,392 | - | 254,675 |
Energy | 82,580,822 | 82,580,822 | - | - |
Financials | 136,928,380 | 136,928,380 | - | - |
Health Care | 60,528,531 | 59,584,848 | - | 943,683 |
Industrials | 190,446,775 | 189,222,281 | - | 1,224,494 |
Information Technology | 53,083,260 | 53,083,260 | - | - |
Materials | 54,486,451 | 54,486,451 | - | - |
Real Estate | 40,842,995 | 40,842,995 | - | - |
Utilities | 44,342,194 | 44,342,194 | - | - |
Money Market Funds | 21,766,452 | 21,766,452 | - | - |
Total Investments in Securities: | 849,237,934 | 846,815,082 | - | 2,422,852 |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $18,338,922) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $804,288,637) | $ | 827,471,482 | ||
Fidelity Central Funds (cost $21,766,452) | 21,766,452 | |||
Total Investment in Securities (cost $826,055,089) | $ | 849,237,934 | ||
Cash | 3,107 | |||
Foreign currency held at value (cost $33) | 33 | |||
Receivable for investments sold | 8,095,686 | |||
Receivable for fund shares sold | 167,285 | |||
Dividends receivable | 646,095 | |||
Distributions receivable from Fidelity Central Funds | 69,591 | |||
Total assets | 858,219,731 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,147,170 | ||
Payable for fund shares redeemed | 1,306,668 | |||
Accrued management fee | 317,032 | |||
Other payables and accrued expenses | 62 | |||
Collateral on securities loaned | 18,251,200 | |||
Total Liabilities | 22,022,132 | |||
Net Assets | $ | 836,197,599 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 849,409,457 | ||
Total accumulated earnings (loss) | (13,211,858) | |||
Net Assets | $ | 836,197,599 | ||
Net Asset Value, offering price and redemption price per share ($836,197,599 ÷ 65,572,932 shares) | $ | 12.75 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 6,616,639 | ||
Interest | 170 | |||
Income from Fidelity Central Funds (including $7,420 from security lending) | 326,629 | |||
Total Income | 6,943,438 | |||
Expenses | ||||
Management fee | $ | 1,894,856 | ||
Independent trustees' fees and expenses | 2,038 | |||
Total expenses before reductions | 1,896,894 | |||
Expense reductions | (884) | |||
Total expenses after reductions | 1,896,010 | |||
Net Investment income (loss) | 5,047,428 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (5,541,685) | |||
Foreign currency transactions | (12,512) | |||
Total net realized gain (loss) | (5,554,197) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (46,651,423) | |||
Assets and liabilities in foreign currencies | (1,227) | |||
Total change in net unrealized appreciation (depreciation) | (46,652,650) | |||
Net gain (loss) | (52,206,847) | |||
Net increase (decrease) in net assets resulting from operations | $ | (47,159,419) |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 5,047,428 | $ | 9,879,796 |
Net realized gain (loss) | (5,554,197) | (15,737,132) | ||
Change in net unrealized appreciation (depreciation) | (46,652,650) | 25,488,593 | ||
Net increase (decrease) in net assets resulting from operations | (47,159,419) | 19,631,257 | ||
Distributions to shareholders | (3,470,341) | (16,927,430) | ||
Share transactions | ||||
Proceeds from sales of shares | 150,019,751 | 410,750,484 | ||
Reinvestment of distributions | 3,470,341 | 16,927,430 | ||
Cost of shares redeemed | (89,630,945) | (183,950,405) | ||
Net increase (decrease) in net assets resulting from share transactions | 63,859,147 | 243,727,509 | ||
Total increase (decrease) in net assets | 13,229,387 | 246,431,336 | ||
Net Assets | ||||
Beginning of period | 822,968,212 | 576,536,876 | ||
End of period | $ | 836,197,599 | $ | 822,968,212 |
Other Information | ||||
Shares | ||||
Sold | 11,160,658 | 31,165,672 | ||
Issued in reinvestment of distributions | 258,595 | 1,289,203 | ||
Redeemed | (6,711,826) | (13,767,167) | ||
Net increase (decrease) | 4,707,427 | 18,687,708 | ||
Fidelity® Mid-Cap Stock K6 Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.52 | $ | 13.67 | $ | 14.13 | $ | 8.78 | $ | 10.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .08 | .21 | .19 | .15 | .11 | |||||
Net realized and unrealized gain (loss) | (.79) | .03 | (.07) | 5.37 | (1.27) | |||||
Total from investment operations | (.71) | .24 | .12 | 5.52 | (1.16) | |||||
Distributions from net investment income | (.06) | (.17) | (.13) | (.17) | (.06) | |||||
Distributions from net realized gain | - | (.21) | (.45) | - | - | |||||
Total distributions | (.06) | (.39) D | (.58) | (.17) | (.06) | |||||
Net asset value, end of period | $ | 12.75 | $ | 13.52 | $ | 13.67 | $ | 14.13 | $ | 8.78 |
Total Return E,F | (5.29)% | 1.82% | .78% | 63.39% | (11.74)% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | .45% I | .45% | .45% | .45% | .45% I | |||||
Expenses net of fee waivers, if any | .45% I | .45% | .45% | .45% | .45% I | |||||
Expenses net of all reductions | .45% I | .45% | .45% | .44% | .45% I | |||||
Net investment income (loss) | 1.20% I | 1.58% | 1.35% | 1.35% | 1.29% I | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 836,198 | $ | 822,968 | $ | 576,537 | $ | 319,924 | $ | 108,435 |
Portfolio turnover rate J,K | 44% I | 34% | 40% | 61% | 52% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $96,163,668 |
Gross unrealized depreciation | (77,478,500) |
Net unrealized appreciation (depreciation) | $18,685,168 |
Tax cost | $830,552,766 |
Short-term | $(15,032,339) |
Long-term | (16,522,049) |
Total capital loss carryforward | $(31,554,388) |
Purchases ($) | Sales ($) | |
Fidelity Mid-Cap Stock K6 Fund | 197,049,115 | 180,582,023 |
Shares | Total Proceeds ($) | |
Fidelity Mid-Cap Stock K6 Fund | 4,708,453 | 61,987,359 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Mid-Cap Stock K6 Fund | 4,189,666 | 16,581,447 | 56,686,184 |
Shares | Total Proceeds ($) | |
Fidelity Mid-Cap Stock K6 Fund | 18,276,381 | 237,757,517 |
Amount | |
Fidelity Mid-Cap Stock K6 Fund | $ 3,613 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Mid-Cap Stock K6 Fund | 9,894,464 | 7,412,327 | (1,715,032) |
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 Mid-Cap Stock K6 Fund | $776 | $1 | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Mid-Cap Stock K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 947.10 | $ 2.20 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.87 | $ 2.29 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Performance Food Group Co. | 2.8 | |
Grand Canyon Education, Inc. | 2.6 | |
Vertiv Holdings Co. | 2.5 | |
Antero Resources Corp. | 2.2 | |
FirstCash Holdings, Inc. | 2.2 | |
LGI Homes, Inc. | 2.1 | |
Murphy U.S.A., Inc. | 2.0 | |
Insight Enterprises, Inc. | 1.7 | |
Boston Beer Co., Inc. Class A | 1.7 | |
Sitio Royalties Corp. | 1.6 | |
21.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 21.7 | |
Financials | 16.7 | |
Consumer Discretionary | 14.2 | |
Health Care | 11.5 | |
Information Technology | 11.5 | |
Energy | 8.0 | |
Consumer Staples | 6.1 | |
Materials | 4.0 | |
Real Estate | 3.4 | |
Communication Services | 1.3 | |
Utilities | 0.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.3% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 1.3% | |||
Diversified Telecommunication Services - 0.0% | |||
GCI Liberty, Inc. Class A (a) | 127,906 | 0 | |
Media - 1.3% | |||
TechTarget, Inc. (b) | 175,733 | 4,425 | |
Thryv Holdings, Inc. (b) | 495,441 | 8,636 | |
13,061 | |||
TOTAL COMMUNICATION SERVICES | 13,061 | ||
CONSUMER DISCRETIONARY - 14.2% | |||
Automobile Components - 0.9% | |||
Fox Factory Holding Corp. (b) | 65,518 | 5,338 | |
Patrick Industries, Inc. | 58,126 | 4,368 | |
9,706 | |||
Diversified Consumer Services - 2.6% | |||
Grand Canyon Education, Inc. (b) | 224,613 | 26,578 | |
Hotels, Restaurants & Leisure - 1.0% | |||
Planet Fitness, Inc. (b) | 179,761 | 9,935 | |
Household Durables - 4.0% | |||
Cavco Industries, Inc. (b) | 24,349 | 6,075 | |
Helen of Troy Ltd. (b)(c) | 119,237 | 11,723 | |
LGI Homes, Inc. (b) | 224,744 | 21,241 | |
Traeger, Inc. (b)(c) | 914,381 | 2,405 | |
41,444 | |||
Leisure Products - 2.9% | |||
Brunswick Corp. | 186,100 | 12,928 | |
Clarus Corp. (c) | 484,300 | 2,804 | |
Games Workshop Group PLC | 2,687 | 323 | |
YETI Holdings, Inc. (b)(c) | 324,179 | 13,784 | |
29,839 | |||
Specialty Retail - 2.5% | |||
America's Car Mart, Inc. (b) | 73,251 | 4,906 | |
Murphy U.S.A., Inc. | 58,020 | 21,043 | |
25,949 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Wolverine World Wide, Inc. | 346,092 | 2,786 | |
TOTAL CONSUMER DISCRETIONARY | 146,237 | ||
CONSUMER STAPLES - 6.1% | |||
Beverages - 1.7% | |||
Boston Beer Co., Inc. Class A (b) | 51,874 | 17,323 | |
Consumer Staples Distribution & Retail - 2.8% | |||
Performance Food Group Co. (b) | 495,583 | 28,626 | |
Food Products - 1.6% | |||
Lassonde Industries, Inc. Class A (sub. vtg.) | 41,084 | 4,084 | |
Nomad Foods Ltd. (b) | 943,322 | 13,037 | |
17,121 | |||
TOTAL CONSUMER STAPLES | 63,070 | ||
ENERGY - 8.0% | |||
Energy Equipment & Services - 2.8% | |||
Cactus, Inc. | 252,400 | 11,848 | |
TechnipFMC PLC | 773,800 | 16,652 | |
28,500 | |||
Oil, Gas & Consumable Fuels - 5.2% | |||
Antero Resources Corp. (b) | 773,318 | 22,766 | |
Northern Oil & Gas, Inc. | 369,312 | 14,159 | |
Sitio Royalties Corp. | 691,791 | 17,101 | |
54,026 | |||
TOTAL ENERGY | 82,526 | ||
FINANCIALS - 16.7% | |||
Banks - 5.5% | |||
Cadence Bank | 405,513 | 8,589 | |
ConnectOne Bancorp, Inc. | 542,698 | 8,841 | |
Glacier Bancorp, Inc. | 308,500 | 9,314 | |
Independent Bank Group, Inc. | 327,391 | 11,573 | |
Metropolitan Bank Holding Corp. (b) | 272,911 | 8,845 | |
Synovus Financial Corp. | 370,100 | 9,649 | |
56,811 | |||
Capital Markets - 1.6% | |||
StoneX Group, Inc. (b) | 175,765 | 16,754 | |
Consumer Finance - 4.2% | |||
Encore Capital Group, Inc. (b)(c) | 405,543 | 15,281 | |
FirstCash Holdings, Inc. | 204,300 | 22,252 | |
NerdWallet, Inc. (b) | 480,600 | 5,181 | |
42,714 | |||
Financial Services - 1.0% | |||
Enact Holdings, Inc. | 174,532 | 4,810 | |
Walker & Dunlop, Inc. | 86,539 | 5,608 | |
10,418 | |||
Insurance - 4.4% | |||
BRP Group, Inc. (b) | 296,300 | 6,202 | |
First American Financial Corp. | 310,864 | 15,991 | |
Primerica, Inc. | 35,601 | 6,805 | |
Selective Insurance Group, Inc. | 160,249 | 16,684 | |
45,682 | |||
TOTAL FINANCIALS | 172,379 | ||
HEALTH CARE - 11.5% | |||
Biotechnology - 3.3% | |||
Allogene Therapeutics, Inc. (b) | 355,900 | 1,004 | |
ALX Oncology Holdings, Inc. (b)(c) | 340,925 | 2,455 | |
Arcellx, Inc. (b) | 50,900 | 1,794 | |
Arcutis Biotherapeutics, Inc. (b)(c) | 188,500 | 424 | |
Celldex Therapeutics, Inc. (b) | 45,216 | 1,063 | |
Cogent Biosciences, Inc. (b) | 150,800 | 1,231 | |
Crinetics Pharmaceuticals, Inc. (b) | 61,200 | 1,793 | |
Cytokinetics, Inc. (b) | 101,525 | 3,539 | |
Karuna Therapeutics, Inc. (b) | 13,205 | 2,200 | |
Keros Therapeutics, Inc. (b) | 67,742 | 1,933 | |
Madrigal Pharmaceuticals, Inc. (b)(c) | 15,900 | 2,089 | |
ORIC Pharmaceuticals, Inc. (b) | 176,015 | 1,179 | |
Prelude Therapeutics, Inc. (b) | 280,100 | 473 | |
Prothena Corp. PLC (b) | 21,182 | 772 | |
Tango Therapeutics, Inc. (b) | 125,700 | 1,056 | |
Tyra Biosciences, Inc. (b) | 71,100 | 825 | |
Vaxcyte, Inc. (b) | 83,535 | 4,018 | |
Viking Therapeutics, Inc. (b) | 131,900 | 1,294 | |
Xenon Pharmaceuticals, Inc. (b) | 63,305 | 1,962 | |
Zentalis Pharmaceuticals, Inc. (b) | 166,042 | 2,716 | |
33,820 | |||
Health Care Equipment & Supplies - 2.3% | |||
Envista Holdings Corp. (b) | 267,196 | 6,218 | |
Integer Holdings Corp. (b) | 60,800 | 4,935 | |
Neogen Corp. (b) | 555,785 | 8,276 | |
TransMedics Group, Inc. (b) | 116,971 | 4,384 | |
23,813 | |||
Health Care Providers & Services - 4.0% | |||
Acadia Healthcare Co., Inc. (b) | 82,900 | 6,094 | |
AdaptHealth Corp. (b) | 770,704 | 5,649 | |
agilon health, Inc. (b) | 286,193 | 5,151 | |
Chemed Corp. | 24,563 | 13,820 | |
Owens & Minor, Inc. (b) | 494,873 | 7,092 | |
Privia Health Group, Inc. (b) | 187,300 | 3,937 | |
41,743 | |||
Health Care Technology - 0.7% | |||
Evolent Health, Inc. (b) | 187,521 | 4,581 | |
Phreesia, Inc. (b) | 164,996 | 2,254 | |
6,835 | |||
Life Sciences Tools & Services - 0.3% | |||
Bio-Rad Laboratories, Inc. Class A (b) | 7,000 | 1,927 | |
Maravai LifeSciences Holdings, Inc. (b) | 234,700 | 1,610 | |
3,537 | |||
Pharmaceuticals - 0.9% | |||
Edgewise Therapeutics, Inc. (b) | 249,412 | 1,596 | |
Enliven Therapeutics, Inc. (b) | 89,600 | 1,110 | |
Ikena Oncology, Inc. (b) | 357,792 | 1,442 | |
Intra-Cellular Therapies, Inc. (b) | 31,944 | 1,590 | |
Structure Therapeutics, Inc. ADR | 26,400 | 1,962 | |
Ventyx Biosciences, Inc. (b) | 94,430 | 1,362 | |
9,062 | |||
TOTAL HEALTH CARE | 118,810 | ||
INDUSTRIALS - 21.7% | |||
Aerospace & Defense - 2.2% | |||
Cadre Holdings, Inc. | 269,258 | 7,553 | |
Leonardo DRS, Inc. (b) | 696,746 | 13,287 | |
Spirit AeroSystems Holdings, Inc. Class A | 63,600 | 1,437 | |
22,277 | |||
Air Freight & Logistics - 0.9% | |||
Forward Air Corp. | 144,021 | 9,276 | |
Building Products - 2.2% | |||
CSW Industrials, Inc. | 38,899 | 6,895 | |
Hayward Holdings, Inc. (b)(c) | 1,492,267 | 15,669 | |
22,564 | |||
Construction & Engineering - 3.3% | |||
Bowman Consulting Group Ltd. (b) | 106,201 | 2,822 | |
EMCOR Group, Inc. | 32,155 | 6,645 | |
Granite Construction, Inc. | 239,665 | 9,702 | |
Willscot Mobile Mini Holdings (b) | 386,459 | 15,230 | |
34,399 | |||
Electrical Equipment - 4.5% | |||
Atkore, Inc. (b) | 66,283 | 8,238 | |
Generac Holdings, Inc. (b) | 142,500 | 11,980 | |
Vertiv Holdings Co. | 669,236 | 26,281 | |
46,499 | |||
Ground Transportation - 1.3% | |||
XPO, Inc. (b) | 174,600 | 13,236 | |
Machinery - 0.4% | |||
Beijer Alma AB (B Shares) | 238,597 | 3,792 | |
Professional Services - 5.5% | |||
Concentrix Corp. | 217,925 | 16,608 | |
ExlService Holdings, Inc. (b) | 373,387 | 9,749 | |
ICF International, Inc. | 90,600 | 11,482 | |
Kforce, Inc. | 159,773 | 9,753 | |
Maximus, Inc. | 129,897 | 9,706 | |
57,298 | |||
Trading Companies & Distributors - 1.4% | |||
Alligo AB (B Shares) | 360,603 | 2,830 | |
Applied Industrial Technologies, Inc. | 71,000 | 10,899 | |
Custom Truck One Source, Inc. Class A (b) | 67,455 | 389 | |
14,118 | |||
TOTAL INDUSTRIALS | 223,459 | ||
INFORMATION TECHNOLOGY - 11.5% | |||
Communications Equipment - 1.4% | |||
Lumentum Holdings, Inc. (b) | 376,400 | 14,759 | |
Electronic Equipment, Instruments & Components - 2.7% | |||
Coherent Corp. (b) | 262,100 | 7,758 | |
Insight Enterprises, Inc. (b) | 121,006 | 17,340 | |
Mirion Technologies, Inc. Class A (b)(c) | 393,396 | 2,726 | |
27,824 | |||
IT Services - 0.8% | |||
Endava PLC ADR (b) | 157,200 | 7,885 | |
Semiconductors & Semiconductor Equipment - 3.2% | |||
Allegro MicroSystems LLC (b) | 257,900 | 6,695 | |
MKS Instruments, Inc. | 69,100 | 4,537 | |
Onto Innovation, Inc. (b) | 95,920 | 10,779 | |
Silicon Motion Tech Corp. sponsored ADR | 153,854 | 8,243 | |
SMART Global Holdings, Inc. (b) | 199,500 | 2,733 | |
32,987 | |||
Software - 3.4% | |||
BlackLine, Inc. (b) | 163,700 | 8,038 | |
Five9, Inc. (b) | 65,061 | 3,765 | |
Intapp, Inc. (b) | 179,908 | 6,153 | |
JFrog Ltd. (b) | 167,400 | 3,765 | |
Rapid7, Inc. (b) | 188,600 | 8,768 | |
Sprout Social, Inc. (b)(c) | 105,200 | 4,553 | |
35,042 | |||
TOTAL INFORMATION TECHNOLOGY | 118,497 | ||
MATERIALS - 4.0% | |||
Chemicals - 2.5% | |||
Cabot Corp. | 143,883 | 9,565 | |
Olin Corp. | 216,100 | 9,232 | |
Tronox Holdings PLC | 656,243 | 7,015 | |
25,812 | |||
Construction Materials - 0.7% | |||
Eagle Materials, Inc. | 50,100 | 7,711 | |
Containers & Packaging - 0.8% | |||
Graphic Packaging Holding Co. | 359,600 | 7,735 | |
TOTAL MATERIALS | 41,258 | ||
REAL ESTATE - 3.4% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Ryman Hospitality Properties, Inc. | 68,600 | 5,872 | |
Terreno Realty Corp. | 147,264 | 7,846 | |
13,718 | |||
Real Estate Management & Development - 2.1% | |||
Cushman & Wakefield PLC (b) | 2,119,341 | 15,620 | |
Jones Lang LaSalle, Inc. (b) | 42,342 | 5,416 | |
21,036 | |||
TOTAL REAL ESTATE | 34,754 | ||
UTILITIES - 0.9% | |||
Gas Utilities - 0.9% | |||
Brookfield Infrastructure Corp. A Shares | 358,126 | 9,225 | |
TOTAL COMMON STOCKS (Cost $1,062,007) | 1,023,276 | ||
Money Market Funds - 5.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (d) | 7,398,546 | 7,400 | |
Fidelity Securities Lending Cash Central Fund 5.40% (d)(e) | 48,179,050 | 48,184 | |
TOTAL MONEY MARKET FUNDS (Cost $55,584) | 55,584 | ||
TOTAL INVESTMENT IN SECURITIES - 104.7% (Cost $1,117,591) | 1,078,860 |
NET OTHER ASSETS (LIABILITIES) - (4.7)% | (48,119) |
NET ASSETS - 100.0% | 1,030,741 |
(a) | Level 3 security |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 20,249 | 160,233 | 173,082 | 343 | - | - | 7,400 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 54,265 | 224,842 | 230,923 | 23 | - | - | 48,184 | 0.2% |
Total | 74,514 | 385,075 | 404,005 | 366 | - | - | 55,584 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 13,061 | 13,061 | - | - |
Consumer Discretionary | 146,237 | 146,237 | - | - |
Consumer Staples | 63,070 | 63,070 | - | - |
Energy | 82,526 | 82,526 | - | - |
Financials | 172,379 | 172,379 | - | - |
Health Care | 118,810 | 118,810 | - | - |
Industrials | 223,459 | 223,459 | - | - |
Information Technology | 118,497 | 118,497 | - | - |
Materials | 41,258 | 41,258 | - | - |
Real Estate | 34,754 | 34,754 | - | - |
Utilities | 9,225 | 9,225 | - | - |
Money Market Funds | 55,584 | 55,584 | - | - |
Total Investments in Securities: | 1,078,860 | 1,078,860 | - | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amount) | October 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $46,917) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,062,007) | $ | 1,023,276 | ||
Fidelity Central Funds (cost $55,584) | 55,584 | |||
Total Investment in Securities (cost $1,117,591) | $ | 1,078,860 | ||
Receivable for investments sold | 4,577 | |||
Receivable for fund shares sold | 69 | |||
Dividends receivable | 272 | |||
Distributions receivable from Fidelity Central Funds | 24 | |||
Prepaid expenses | 2 | |||
Total assets | 1,083,804 | |||
Liabilities | ||||
Payable for investments purchased | $ | 3,621 | ||
Payable for fund shares redeemed | 494 | |||
Accrued management fee | 562 | |||
Other affiliated payables | 171 | |||
Other payables and accrued expenses | 36 | |||
Collateral on securities loaned | 48,179 | |||
Total Liabilities | 53,063 | |||
Net Assets | $ | 1,030,741 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,138,966 | ||
Total accumulated earnings (loss) | (108,225) | |||
Net Assets | $ | 1,030,741 | ||
Net Asset Value, offering price and redemption price per share ($1,030,741 ÷ 73,147 shares) | $ | 14.09 |
Statement of Operations | ||||
Amounts in thousands | Six months ended October 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 4,778 | ||
Income from Fidelity Central Funds (including $23 from security lending) | 366 | |||
Total Income | 5,144 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 3,881 | ||
Performance adjustment | (767) | |||
Transfer agent fees | 887 | |||
Accounting fees | 167 | |||
Custodian fees and expenses | 11 | |||
Independent trustees' fees and expenses | 3 | |||
Registration fees | 10 | |||
Audit | 31 | |||
Legal | 5 | |||
Miscellaneous | 2 | |||
Total expenses before reductions | 4,230 | |||
Expense reductions | (45) | |||
Total expenses after reductions | 4,185 | |||
Net Investment income (loss) | 959 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 24,154 | |||
Total net realized gain (loss) | 24,154 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (71,114) | |||
Assets and liabilities in foreign currencies | (6) | |||
Total change in net unrealized appreciation (depreciation) | (71,120) | |||
Net gain (loss) | (46,966) | |||
Net increase (decrease) in net assets resulting from operations | $ | (46,007) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 959 | $ | (267) |
Net realized gain (loss) | 24,154 | (5,714) | ||
Change in net unrealized appreciation (depreciation) | (71,120) | (41,253) | ||
Net increase (decrease) in net assets resulting from operations | (46,007) | (47,234) | ||
Distributions to shareholders | - | (85,845) | ||
Share transactions | ||||
Proceeds from sales of shares | 24,155 | 139,727 | ||
Reinvestment of distributions | - | 82,717 | ||
Cost of shares redeemed | (115,853) | (178,581) | ||
Net increase (decrease) in net assets resulting from share transactions | (91,698) | 43,863 | ||
Total increase (decrease) in net assets | (137,705) | (89,216) | ||
Net Assets | ||||
Beginning of period | 1,168,446 | 1,257,662 | ||
End of period | $ | 1,030,741 | $ | 1,168,446 |
Other Information | ||||
Shares | ||||
Sold | 1,581 | 9,124 | ||
Issued in reinvestment of distributions | - | 5,578 | ||
Redeemed | (7,617) | (12,013) | ||
Net increase (decrease) | (6,036) | 2,689 | ||
Fidelity® Small Cap Stock Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.76 | $ | 16.44 | $ | 23.58 | $ | 14.00 | $ | 16.89 | $ | 19.56 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | - C | .02 | (.01) | .05 | .12 D | ||||||
Net realized and unrealized gain (loss) | (.68) | (.54) | (2.57) | 9.59 | (2.88) | .90 | ||||||
Total from investment operations | (.67) | (.54) | (2.55) | 9.58 | (2.83) | 1.02 | ||||||
Distributions from net investment income | - | - | (.05) | - | (.06) | (.06) | ||||||
Distributions from net realized gain | - | (1.14) | (4.54) | - | - | (3.64) | ||||||
Total distributions | - | (1.14) | (4.59) | - | (.06) | (3.69) E | ||||||
Net asset value, end of period | $ | 14.09 | $ | 14.76 | $ | 16.44 | $ | 23.58 | $ | 14.00 | $ | 16.89 |
Total Return F,G | (4.54)% | (3.33)% | (13.53)% | 68.43% | (16.85)% | 6.66% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .73% J | .77% | .90% | .88% | .91% | .67% | ||||||
Expenses net of fee waivers, if any | .73% J | .77% | .89% | .88% | .91% | .67% | ||||||
Expenses net of all reductions | .73% J | .77% | .89% | .86% | .90% | .67% | ||||||
Net investment income (loss) | .17% J | (.02)% | .10% | (.05)% | .27% | .66% D | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 1,031 | $ | 1,168 | $ | 1,258 | $ | 1,609 | $ | 1,097 | $ | 1,515 |
Portfolio turnover rate K | 86% J | 74% L | 135% L | 123% L | 65% L | 66% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $132,772 |
Gross unrealized depreciation | (177,325) |
Net unrealized appreciation (depreciation) | $(44,553) |
Tax cost | $1,123,413 |
Short-term | $(81,398) |
Purchases ($) | Sales ($) | |
Fidelity Small Cap Stock Fund | 490,825 | 580,265 |
Shares | Total net realized gain or loss($) | Total Proceeds($) | |
Fidelity Small Cap Stock Fund | 185 | 401 | 2,609 |
% of Average Net Assets | |
Fidelity Small Cap Stock Fund | .03 |
% of Average Net Assets | |
Fidelity Small Cap Stock Fund | 0.0286% |
Amount | |
Fidelity Small Cap Stock Fund | $15 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Small Cap Stock Fund | 24,324 | 18,986 | (564) |
Amount | |
Fidelity Small Cap Stock Fund | $1 |
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 Small Cap Stock Fund | $2 | $-A | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Small Cap Stock Fund | .73% | |||||||||
Actual | $ 1,000 | $ 954.60 | $ 3.59 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.47 | $ 3.71 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Insight Enterprises, Inc. | 3.9 | |
FirstCash Holdings, Inc. | 3.9 | |
XPO, Inc. | 3.2 | |
First American Financial Corp. | 3.0 | |
Enstar Group Ltd. | 3.0 | |
Patrick Industries, Inc. | 2.9 | |
Performance Food Group Co. | 2.9 | |
Sitio Royalties Corp. | 2.8 | |
ShawCor Ltd. Class A | 2.7 | |
Jones Lang LaSalle, Inc. | 2.7 | |
31.0 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 27.0 | |
Financials | 17.2 | |
Consumer Discretionary | 16.9 | |
Information Technology | 11.8 | |
Energy | 7.3 | |
Materials | 5.5 | |
Health Care | 5.3 | |
Real Estate | 4.1 | |
Consumer Staples | 3.2 | |
Utilities | 1.4 | |
Communication Services | 0.2 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
Ziff Davis, Inc. (a) | 67,716 | 4,094,109 | |
CONSUMER DISCRETIONARY - 16.9% | |||
Automobile Components - 4.8% | |||
Adient PLC (a) | 817,300 | 27,534,837 | |
Lear Corp. | 98,100 | 12,729,456 | |
Patrick Industries, Inc. | 837,200 | 62,915,580 | |
103,179,873 | |||
Diversified Consumer Services - 1.7% | |||
Laureate Education, Inc. Class A | 2,499,941 | 35,349,166 | |
Household Durables - 3.5% | |||
Helen of Troy Ltd. (a)(b) | 251,400 | 24,717,648 | |
LGI Homes, Inc. (a)(b) | 528,420 | 49,940,974 | |
SharkNinja Hong Kong Co. Ltd. | 27,200 | 1,135,872 | |
75,794,494 | |||
Leisure Products - 1.3% | |||
Brunswick Corp. | 415,100 | 28,836,997 | |
Specialty Retail - 4.2% | |||
Academy Sports & Outdoors, Inc. | 324,400 | 14,546,096 | |
America's Car Mart, Inc. (a)(b) | 270,378 | 18,109,918 | |
Murphy U.S.A., Inc. | 120,600 | 43,740,414 | |
Upbound Group, Inc. | 507,500 | 13,225,450 | |
89,621,878 | |||
Textiles, Apparel & Luxury Goods - 1.4% | |||
Crocs, Inc. (a) | 313,800 | 28,028,616 | |
Wolverine World Wide, Inc. | 320,936 | 2,583,535 | |
30,612,151 | |||
TOTAL CONSUMER DISCRETIONARY | 363,394,559 | ||
CONSUMER STAPLES - 3.2% | |||
Consumer Staples Distribution & Retail - 3.2% | |||
Performance Food Group Co. (a) | 1,088,400 | 62,865,984 | |
Sprouts Farmers Market LLC (a) | 152,351 | 6,401,789 | |
69,267,773 | |||
ENERGY - 7.3% | |||
Energy Equipment & Services - 2.7% | |||
ShawCor Ltd. Class A (a)(c) | 5,642,490 | 59,079,830 | |
Oil, Gas & Consumable Fuels - 4.6% | |||
Parkland Corp. | 1,263,100 | 38,227,732 | |
Sitio Royalties Corp. (b) | 2,411,700 | 59,617,224 | |
97,844,956 | |||
TOTAL ENERGY | 156,924,786 | ||
FINANCIALS - 17.2% | |||
Banks - 2.2% | |||
Cadence Bank | 1,339,352 | 28,367,475 | |
First Hawaiian, Inc. | 1,029,700 | 18,462,521 | |
46,829,996 | |||
Capital Markets - 0.7% | |||
Virtus Investment Partners, Inc. | 82,900 | 15,272,667 | |
Consumer Finance - 3.9% | |||
FirstCash Holdings, Inc. | 758,442 | 82,609,503 | |
Financial Services - 1.3% | |||
EVERTEC, Inc. | 482,900 | 15,346,562 | |
WEX, Inc. (a) | 77,800 | 12,952,144 | |
28,298,706 | |||
Insurance - 9.1% | |||
Assurant, Inc. | 181,340 | 27,001,526 | |
Enstar Group Ltd. (a) | 270,160 | 64,019,815 | |
First American Financial Corp. | 1,268,500 | 65,251,640 | |
Primerica, Inc. | 205,247 | 39,235,017 | |
195,507,998 | |||
TOTAL FINANCIALS | 368,518,870 | ||
HEALTH CARE - 5.3% | |||
Biotechnology - 0.8% | |||
Blueprint Medicines Corp. (a) | 158,600 | 9,335,196 | |
Keros Therapeutics, Inc. (a) | 100,000 | 2,854,000 | |
Vaxcyte, Inc. (a) | 128,700 | 6,190,470 | |
18,379,666 | |||
Health Care Equipment & Supplies - 1.8% | |||
Envista Holdings Corp. (a) | 1,457,500 | 33,916,025 | |
Utah Medical Products, Inc. | 50,000 | 3,976,000 | |
37,892,025 | |||
Health Care Providers & Services - 2.4% | |||
AdaptHealth Corp. (a) | 975,700 | 7,151,881 | |
AMN Healthcare Services, Inc. (a) | 111,800 | 8,481,148 | |
Owens & Minor, Inc. (a) | 2,486,959 | 35,638,122 | |
The Ensign Group, Inc. | 1,276 | 123,262 | |
51,394,413 | |||
Pharmaceuticals - 0.3% | |||
Arvinas Holding Co. LLC (a) | 206,400 | 3,327,168 | |
Ventyx Biosciences, Inc. (a) | 176,900 | 2,550,898 | |
5,878,066 | |||
TOTAL HEALTH CARE | 113,544,170 | ||
INDUSTRIALS - 27.0% | |||
Aerospace & Defense - 0.2% | |||
V2X, Inc. (a) | 74,259 | 3,792,407 | |
Building Products - 3.0% | |||
Armstrong World Industries, Inc. | 547,700 | 41,564,953 | |
AZZ, Inc. | 243,711 | 11,520,219 | |
Tecnoglass, Inc. (b) | 340,136 | 11,115,644 | |
64,200,816 | |||
Commercial Services & Supplies - 2.0% | |||
The Brink's Co. | 640,409 | 42,817,746 | |
Construction & Engineering - 1.2% | |||
EMCOR Group, Inc. | 123,026 | 25,423,323 | |
Electrical Equipment - 0.7% | |||
Vertiv Holdings Co. | 384,900 | 15,115,023 | |
Ground Transportation - 6.9% | |||
TFI International, Inc. | 412,900 | 45,674,998 | |
TFI International, Inc. (Canada) | 308,500 | 34,127,986 | |
XPO, Inc. (a) | 904,645 | 68,581,137 | |
148,384,121 | |||
Professional Services - 10.0% | |||
ASGN, Inc. (a) | 615,400 | 51,361,284 | |
Concentrix Corp. | 626,000 | 47,707,460 | |
Genpact Ltd. | 1,052,500 | 35,300,850 | |
Kforce, Inc. | 694,318 | 42,381,171 | |
Maximus, Inc. | 521,896 | 38,996,069 | |
215,746,834 | |||
Trading Companies & Distributors - 3.0% | |||
Beacon Roofing Supply, Inc. (a) | 724,700 | 51,576,899 | |
Core & Main, Inc. (a) | 453,200 | 13,632,256 | |
65,209,155 | |||
TOTAL INDUSTRIALS | 580,689,425 | ||
INFORMATION TECHNOLOGY - 11.8% | |||
Communications Equipment - 1.3% | |||
Lumentum Holdings, Inc. (a) | 724,206 | 28,396,117 | |
Electronic Equipment, Instruments & Components - 5.3% | |||
ePlus, Inc. (a) | 128,300 | 8,018,750 | |
Insight Enterprises, Inc. (a) | 587,682 | 84,214,832 | |
TD SYNNEX Corp. | 226,200 | 20,738,016 | |
112,971,598 | |||
Semiconductors & Semiconductor Equipment - 4.0% | |||
Cirrus Logic, Inc. (a) | 429,800 | 28,766,514 | |
Diodes, Inc. (a) | 191,900 | 12,488,852 | |
Ichor Holdings Ltd. (a)(c) | 1,639,500 | 39,774,270 | |
SMART Global Holdings, Inc. (a) | 362,900 | 4,971,730 | |
86,001,366 | |||
Software - 1.2% | |||
Rapid7, Inc. (a) | 577,125 | 26,830,541 | |
TOTAL INFORMATION TECHNOLOGY | 254,199,622 | ||
MATERIALS - 5.5% | |||
Chemicals - 2.9% | |||
Olin Corp. | 1,209,100 | 51,652,752 | |
The Chemours Co. LLC | 410,300 | 9,892,333 | |
61,545,085 | |||
Construction Materials - 0.4% | |||
Wienerberger AG | 411,400 | 9,985,836 | |
Containers & Packaging - 1.5% | |||
Graphic Packaging Holding Co. | 1,479,600 | 31,826,196 | |
Metals & Mining - 0.7% | |||
ERO Copper Corp. (a) | 1,080,100 | 14,658,361 | |
TOTAL MATERIALS | 118,015,478 | ||
REAL ESTATE - 4.1% | |||
Real Estate Management & Development - 4.1% | |||
Cushman & Wakefield PLC (a)(b) | 3,998,900 | 29,471,893 | |
Jones Lang LaSalle, Inc. (a) | 450,000 | 57,564,000 | |
87,035,893 | |||
UTILITIES - 1.4% | |||
Gas Utilities - 1.4% | |||
Brookfield Infrastructure Corp. A Shares (b) | 1,160,400 | 29,891,904 | |
TOTAL COMMON STOCKS (Cost $1,972,076,308) | 2,145,576,589 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (d) | 5,599,455 | 5,600,575 | |
Fidelity Securities Lending Cash Central Fund 5.40% (d)(e) | 46,392,911 | 46,397,550 | |
TOTAL MONEY MARKET FUNDS (Cost $51,998,125) | 51,998,125 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% (Cost $2,024,074,433) | 2,197,574,714 |
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (49,733,944) |
NET ASSETS - 100.0% | 2,147,840,770 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated company |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 136,491,806 | 387,031,029 | 517,922,260 | 1,334,922 | - | - | 5,600,575 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 201,076,847 | 314,009,132 | 468,688,429 | 81,126 | - | - | 46,397,550 | 0.2% |
Total | 337,568,653 | 701,040,161 | 986,610,689 | 1,416,048 | - | - | 51,998,125 | |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
America's Car Mart, Inc. | 25,636,371 | - | 4,770,533 | - | (1,050,505) | (1,705,415) | - |
Ichor Holdings Ltd. | 47,345,000 | - | 1,790,200 | - | (1,086,760) | (4,693,770) | 39,774,270 |
ShawCor Ltd. Class A | 33,281,323 | 19,492,088 | 531,255 | - | (335,624) | 7,173,298 | 59,079,830 |
Total | 106,262,694 | 19,492,088 | 7,091,988 | - | (2,472,889) | 774,113 | 98,854,100 |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,094,109 | 4,094,109 | - | - |
Consumer Discretionary | 363,394,559 | 363,394,559 | - | - |
Consumer Staples | 69,267,773 | 69,267,773 | - | - |
Energy | 156,924,786 | 156,924,786 | - | - |
Financials | 368,518,870 | 368,518,870 | - | - |
Health Care | 113,544,170 | 113,544,170 | - | - |
Industrials | 580,689,425 | 580,689,425 | - | - |
Information Technology | 254,199,622 | 254,199,622 | - | - |
Materials | 118,015,478 | 118,015,478 | - | - |
Real Estate | 87,035,893 | 87,035,893 | - | - |
Utilities | 29,891,904 | 29,891,904 | - | - |
Money Market Funds | 51,998,125 | 51,998,125 | - | - |
Total Investments in Securities: | 2,197,574,714 | 2,197,574,714 | - | - |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $46,444,628) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,841,433,932) | $ | 2,046,722,489 | ||
Fidelity Central Funds (cost $51,998,125) | 51,998,125 | |||
Other affiliated issuers (cost $130,642,376) | 98,854,100 | |||
Total Investment in Securities (cost $2,024,074,433) | $ | 2,197,574,714 | ||
Receivable for investments sold | 7,563,161 | |||
Receivable for fund shares sold | 1,036,322 | |||
Dividends receivable | 1,398,901 | |||
Distributions receivable from Fidelity Central Funds | 78,208 | |||
Prepaid expenses | 3,632 | |||
Total assets | 2,207,654,938 | |||
Liabilities | ||||
Payable for investments purchased | $ | 10,354,830 | ||
Payable for fund shares redeemed | 855,623 | |||
Accrued management fee | 1,745,139 | |||
Other affiliated payables | 423,458 | |||
Other payables and accrued expenses | 40,966 | |||
Collateral on securities loaned | 46,394,152 | |||
Total Liabilities | 59,814,168 | |||
Net Assets | $ | 2,147,840,770 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,883,335,497 | ||
Total accumulated earnings (loss) | 264,505,273 | |||
Net Assets | $ | 2,147,840,770 | ||
Net Asset Value, offering price and redemption price per share ($2,147,840,770 ÷ 94,742,400 shares) | $ | 22.67 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 13,247,860 | ||
Income from Fidelity Central Funds (including $81,126 from security lending) | 1,416,048 | |||
Total Income | 14,663,908 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 8,579,464 | ||
Performance adjustment | 2,950,340 | |||
Transfer agent fees | 2,369,871 | |||
Accounting fees | 334,315 | |||
Custodian fees and expenses | 18,800 | |||
Independent trustees' fees and expenses | 6,590 | |||
Registration fees | 54,610 | |||
Audit | 26,884 | |||
Legal | 1,415 | |||
Miscellaneous | 7,264 | |||
Total expenses before reductions | 14,349,553 | |||
Expense reductions | (95,452) | |||
Total expenses after reductions | 14,254,101 | |||
Net Investment income (loss) | 409,807 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 101,503,173 | |||
Affiliated issuers | (2,472,889) | |||
Foreign currency transactions | (4,944) | |||
Total net realized gain (loss) | 99,025,340 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (153,298,464) | |||
Affiliated issuers | 774,113 | |||
Assets and liabilities in foreign currencies | (24,995) | |||
Total change in net unrealized appreciation (depreciation) | (152,549,346) | |||
Net gain (loss) | (53,524,006) | |||
Net increase (decrease) in net assets resulting from operations | $ | (53,114,199) |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 409,807 | $ | 7,230,666 |
Net realized gain (loss) | 99,025,340 | 114,843,344 | ||
Change in net unrealized appreciation (depreciation) | (152,549,346) | (196,594,050) | ||
Net increase (decrease) in net assets resulting from operations | (53,114,199) | (74,520,040) | ||
Distributions to shareholders | (32,860,431) | (312,093,346) | ||
Share transactions | ||||
Proceeds from sales of shares | 193,469,681 | 297,164,963 | ||
Reinvestment of distributions | 31,014,712 | 290,979,010 | ||
Cost of shares redeemed | (748,012,806) | (667,601,847) | ||
Net increase (decrease) in net assets resulting from share transactions | (523,528,413) | (79,457,874) | ||
Total increase (decrease) in net assets | (609,503,043) | (466,071,260) | ||
Net Assets | ||||
Beginning of period | 2,757,343,813 | 3,223,415,073 | ||
End of period | $ | 2,147,840,770 | $ | 2,757,343,813 |
Other Information | ||||
Shares | ||||
Sold | 7,682,031 | 12,445,624 | ||
Issued in reinvestment of distributions | 1,285,851 | 12,400,315 | ||
Redeemed | (30,582,478) | (28,175,480) | ||
Net increase (decrease) | (21,614,596) | (3,329,541) | ||
Fidelity® Small Cap Discovery Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.70 | $ | 26.93 | $ | 29.55 | $ | 17.11 | $ | 23.60 | $ | 29.61 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | - C | .06 | - C | .08 | .18 | .32 D | ||||||
Net realized and unrealized gain (loss) | (.73) | (.64) | (.74) | 13.03 | (4.94) | .68 | ||||||
Total from investment operations | (.73) | (.58) | (.74) | 13.11 | (4.76) | 1.00 | ||||||
Distributions from net investment income | - | (.04) | (.03) | (.07) E | (.19) | (.22) | ||||||
Distributions from net realized gain | (.30) | (2.61) | (1.85) | (.60) E | (1.54) | (6.78) | ||||||
Total distributions | (.30) | (2.65) | (1.88) | (.67) | (1.73) | (7.01) F | ||||||
Net asset value, end of period | $ | 22.67 | $ | 23.70 | $ | 26.93 | $ | 29.55 | $ | 17.11 | $ | 23.60 |
Total Return G,H | (3.15)% | (1.82)% | (2.94)% | 77.54% | (21.89)% | 4.96% | ||||||
Ratios to Average Net Assets B,I,J | ||||||||||||
Expenses before reductions | 1.13% K | 1.03% | .98% | .62% | .61% | .61% | ||||||
Expenses net of fee waivers, if any | 1.12% K | 1.02% | .97% | .62% | .61% | .61% | ||||||
Expenses net of all reductions | 1.12% K | 1.02% | .97% | .61% | .61% | .60% | ||||||
Net investment income (loss) | .03% K | .25% | .01% | .33% | .81% | 1.29% D | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,147,841 | $ | 2,757,344 | $ | 3,223,415 | $ | 3,170,589 | $ | 1,880,740 | $ | 3,019,025 |
Portfolio turnover rate L | 39% K | 27% | 26% | 33% | 52% | 32% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $504,890,926 |
Gross unrealized depreciation | (332,647,929) |
Net unrealized appreciation (depreciation) | $172,242,997 |
Tax cost | $2,025,331,717 |
Purchases ($) | Sales ($) | |
Fidelity Small Cap Discovery Fund | 490,335,378 | 905,730,560 |
% of Average Net Assets | |
Fidelity Small Cap Discovery Fund | .03 |
% of Average Net Assets | |
Fidelity Small Cap Discovery Fund | .0261 |
Amount | |
Fidelity Small Cap Discovery Fund | $ 13,612 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Small Cap Discovery Fund | 21,738,009 | 41,303,592 | 5,022,358 |
Amount | |
Fidelity Small Cap Discovery Fund | $2,190 |
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 Small Cap Discovery Fund | $8,478 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Small Cap Discovery Fund | 1.12% | |||||||||
Actual | $ 1,000 | $ 968.50 | $ 5.54 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.51 | $ 5.69 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
FirstCash Holdings, Inc. | 3.8 | |
Insight Enterprises, Inc. | 3.3 | |
Performance Food Group Co. | 2.9 | |
Beacon Roofing Supply, Inc. | 2.8 | |
Kforce, Inc. | 2.7 | |
Enstar Group Ltd. | 2.7 | |
First American Financial Corp. | 2.6 | |
XPO, Inc. | 2.6 | |
Sitio Royalties Corp. | 2.6 | |
Maximus, Inc. | 2.4 | |
28.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 26.6 | |
Financials | 16.6 | |
Consumer Discretionary | 15.5 | |
Information Technology | 11.1 | |
Energy | 7.0 | |
Materials | 4.9 | |
Health Care | 4.6 | |
Real Estate | 3.5 | |
Consumer Staples | 3.4 | |
Utilities | 1.2 | |
Communication Services | 0.2 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 94.6% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
Ziff Davis, Inc. (a) | 31,150 | 1,883,329 | |
CONSUMER DISCRETIONARY - 15.5% | |||
Automobile Components - 4.2% | |||
Adient PLC (a) | 494,700 | 16,666,443 | |
Lear Corp. | 49,100 | 6,371,216 | |
Patrick Industries, Inc. | 295,500 | 22,206,825 | |
45,244,484 | |||
Diversified Consumer Services - 1.5% | |||
Laureate Education, Inc. Class A | 1,122,300 | 15,869,322 | |
Household Durables - 3.4% | |||
Helen of Troy Ltd. (a)(b) | 124,900 | 12,280,168 | |
LGI Homes, Inc. (a)(b) | 249,121 | 23,544,426 | |
SharkNinja Hong Kong Co. Ltd. | 12,500 | 522,000 | |
36,346,594 | |||
Leisure Products - 1.3% | |||
Brunswick Corp. | 199,100 | 13,831,477 | |
Specialty Retail - 3.8% | |||
Academy Sports & Outdoors, Inc. | 157,700 | 7,071,268 | |
America's Car Mart, Inc. (a)(b) | 123,323 | 8,260,175 | |
Murphy U.S.A., Inc. | 53,200 | 19,295,108 | |
Upbound Group, Inc. | 229,300 | 5,975,558 | |
40,602,109 | |||
Textiles, Apparel & Luxury Goods - 1.3% | |||
Crocs, Inc. (a) | 148,300 | 13,246,156 | |
Wolverine World Wide, Inc. | 131,637 | 1,059,678 | |
14,305,834 | |||
TOTAL CONSUMER DISCRETIONARY | 166,199,820 | ||
CONSUMER STAPLES - 3.4% | |||
Consumer Staples Distribution & Retail - 3.4% | |||
Performance Food Group Co. (a) | 540,100 | 31,196,176 | |
Sprouts Farmers Market LLC (a) | 135,637 | 5,699,467 | |
36,895,643 | |||
ENERGY - 7.0% | |||
Energy Equipment & Services - 3.0% | |||
ShawCor Ltd. Class A (a) | 2,321,809 | 24,310,558 | |
Total Energy Services, Inc. | 1,298,530 | 7,753,256 | |
32,063,814 | |||
Oil, Gas & Consumable Fuels - 4.0% | |||
Parkland Corp. | 500,000 | 15,132,504 | |
Sitio Royalties Corp. (b) | 1,133,000 | 28,007,760 | |
43,140,264 | |||
TOTAL ENERGY | 75,204,078 | ||
FINANCIALS - 16.6% | |||
Banks - 2.2% | |||
Cadence Bank | 688,607 | 14,584,696 | |
First Hawaiian, Inc. | 513,800 | 9,212,434 | |
23,797,130 | |||
Capital Markets - 0.6% | |||
Virtus Investment Partners, Inc. | 35,600 | 6,558,588 | |
Consumer Finance - 3.8% | |||
FirstCash Holdings, Inc. | 376,117 | 40,966,663 | |
Financial Services - 1.4% | |||
EVERTEC, Inc. | 244,500 | 7,770,210 | |
WEX, Inc. (a) | 39,100 | 6,509,368 | |
14,279,578 | |||
Insurance - 8.6% | |||
Assurant, Inc. | 114,100 | 16,989,490 | |
Enstar Group Ltd. (a) | 121,600 | 28,815,552 | |
First American Financial Corp. | 552,500 | 28,420,600 | |
Primerica, Inc. | 95,200 | 18,198,432 | |
92,424,074 | |||
TOTAL FINANCIALS | 178,026,033 | ||
HEALTH CARE - 4.6% | |||
Biotechnology - 0.8% | |||
Blueprint Medicines Corp. (a) | 79,200 | 4,661,712 | |
Keros Therapeutics, Inc. (a) | 50,000 | 1,427,000 | |
Vaxcyte, Inc. (a) | 51,610 | 2,482,441 | |
8,571,153 | |||
Health Care Equipment & Supplies - 1.2% | |||
Envista Holdings Corp. (a) | 450,000 | 10,471,500 | |
Utah Medical Products, Inc. | 32,219 | 2,562,055 | |
13,033,555 | |||
Health Care Providers & Services - 2.4% | |||
AdaptHealth Corp. (a) | 395,300 | 2,897,549 | |
AMN Healthcare Services, Inc. (a) | 91,600 | 6,948,776 | |
Owens & Minor, Inc. (a) | 1,092,520 | 15,655,812 | |
The Ensign Group, Inc. | 700 | 67,620 | |
25,569,757 | |||
Pharmaceuticals - 0.2% | |||
Arvinas Holding Co. LLC (a) | 86,000 | 1,386,320 | |
Ventyx Biosciences, Inc. (a) | 71,000 | 1,023,820 | |
2,410,140 | |||
TOTAL HEALTH CARE | 49,584,605 | ||
INDUSTRIALS - 26.6% | |||
Aerospace & Defense - 0.2% | |||
V2X, Inc. (a) | 36,391 | 1,858,488 | |
Building Products - 3.0% | |||
Armstrong World Industries, Inc. | 267,083 | 20,268,929 | |
AZZ, Inc. | 152,900 | 7,227,583 | |
Tecnoglass, Inc. (b) | 161,000 | 5,261,480 | |
32,757,992 | |||
Commercial Services & Supplies - 2.0% | |||
The Brink's Co. | 313,400 | 20,953,924 | |
Construction & Engineering - 1.1% | |||
EMCOR Group, Inc. | 58,100 | 12,006,365 | |
Electrical Equipment - 0.6% | |||
Vertiv Holdings Co. | 174,800 | 6,864,396 | |
Ground Transportation - 5.5% | |||
TFI International, Inc. | 200,000 | 22,124,000 | |
TFI International, Inc. (Canada) | 75,000 | 8,296,917 | |
XPO, Inc. (a) | 373,790 | 28,337,020 | |
58,757,937 | |||
Professional Services - 10.8% | |||
ASGN, Inc. (a) | 271,198 | 22,634,185 | |
Concentrix Corp. | 301,700 | 22,992,557 | |
Genpact Ltd. | 471,800 | 15,824,172 | |
Kforce, Inc. (b) | 477,269 | 29,132,500 | |
Maximus, Inc. | 341,197 | 25,494,240 | |
116,077,654 | |||
Trading Companies & Distributors - 3.4% | |||
Beacon Roofing Supply, Inc. (a) | 425,000 | 30,247,250 | |
Core & Main, Inc. (a) | 224,200 | 6,743,936 | |
36,991,186 | |||
TOTAL INDUSTRIALS | 286,267,942 | ||
INFORMATION TECHNOLOGY - 11.1% | |||
Communications Equipment - 1.3% | |||
Lumentum Holdings, Inc. (a) | 362,700 | 14,221,467 | |
Electronic Equipment, Instruments & Components - 4.7% | |||
ePlus, Inc. (a) | 64,600 | 4,037,500 | |
Insight Enterprises, Inc. (a) | 245,700 | 35,208,810 | |
TD SYNNEX Corp. | 125,000 | 11,460,000 | |
50,706,310 | |||
Semiconductors & Semiconductor Equipment - 3.9% | |||
Cirrus Logic, Inc. (a) | 193,600 | 12,957,648 | |
Diodes, Inc. (a) | 93,400 | 6,078,472 | |
Ichor Holdings Ltd. (a) | 850,000 | 20,621,000 | |
SMART Global Holdings, Inc. (a) | 157,800 | 2,161,860 | |
41,818,980 | |||
Software - 1.2% | |||
Rapid7, Inc. (a) | 280,215 | 13,027,195 | |
TOTAL INFORMATION TECHNOLOGY | 119,773,952 | ||
MATERIALS - 4.9% | |||
Chemicals - 2.5% | |||
Olin Corp. | 520,800 | 22,248,576 | |
The Chemours Co. LLC | 180,035 | 4,340,644 | |
26,589,220 | |||
Construction Materials - 0.4% | |||
Wienerberger AG | 182,700 | 4,434,643 | |
Containers & Packaging - 1.4% | |||
Graphic Packaging Holding Co. | 730,800 | 15,719,508 | |
Metals & Mining - 0.6% | |||
ERO Copper Corp. (a) | 464,500 | 6,303,869 | |
TOTAL MATERIALS | 53,047,240 | ||
REAL ESTATE - 3.5% | |||
Real Estate Management & Development - 3.5% | |||
Cushman & Wakefield PLC (a)(b) | 2,105,500 | 15,517,535 | |
Jones Lang LaSalle, Inc. (a) | 175,000 | 22,386,000 | |
37,903,535 | |||
UTILITIES - 1.2% | |||
Gas Utilities - 1.2% | |||
Brookfield Infrastructure Corp. A Shares (b) | 500,800 | 12,900,608 | |
TOTAL COMMON STOCKS (Cost $941,699,295) | 1,017,686,785 | ||
Money Market Funds - 10.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) | 64,087,833 | 64,100,651 | |
Fidelity Securities Lending Cash Central Fund 5.40% (c)(d) | 45,453,953 | 45,458,498 | |
TOTAL MONEY MARKET FUNDS (Cost $109,559,149) | 109,559,149 | ||
TOTAL INVESTMENT IN SECURITIES - 104.8% (Cost $1,051,258,444) | 1,127,245,934 |
NET OTHER ASSETS (LIABILITIES) - (4.8)% | (52,052,321) |
NET ASSETS - 100.0% | 1,075,193,613 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 30,296,753 | 246,587,651 | 212,783,753 | 1,134,474 | - | - | 64,100,651 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.40% | 70,453,469 | 247,305,218 | 272,300,189 | 66,688 | - | - | 45,458,498 | 0.2% |
Total | 100,750,222 | 493,892,869 | 485,083,942 | 1,201,162 | - | - | 109,559,149 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,883,329 | 1,883,329 | - | - |
Consumer Discretionary | 166,199,820 | 166,199,820 | - | - |
Consumer Staples | 36,895,643 | 36,895,643 | - | - |
Energy | 75,204,078 | 75,204,078 | - | - |
Financials | 178,026,033 | 178,026,033 | - | - |
Health Care | 49,584,605 | 49,584,605 | - | - |
Industrials | 286,267,942 | 286,267,942 | - | - |
Information Technology | 119,773,952 | 119,773,952 | - | - |
Materials | 53,047,240 | 53,047,240 | - | - |
Real Estate | 37,903,535 | 37,903,535 | - | - |
Utilities | 12,900,608 | 12,900,608 | - | - |
Money Market Funds | 109,559,149 | 109,559,149 | - | - |
Total Investments in Securities: | 1,127,245,934 | 1,127,245,934 | - | - |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $46,241,564) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $941,699,295) | $ | 1,017,686,785 | ||
Fidelity Central Funds (cost $109,559,149) | 109,559,149 | |||
Total Investment in Securities (cost $1,051,258,444) | $ | 1,127,245,934 | ||
Foreign currency held at value (cost $1) | 1 | |||
Receivable for investments sold | 1,257,614 | |||
Receivable for fund shares sold | 2,758,125 | |||
Dividends receivable | 603,585 | |||
Distributions receivable from Fidelity Central Funds | 294,069 | |||
Total assets | 1,132,159,328 | |||
Liabilities | ||||
Payable for investments purchased | $ | 11,211,623 | ||
Payable for fund shares redeemed | 293,260 | |||
Other payables and accrued expenses | 7,303 | |||
Collateral on securities loaned | 45,453,529 | |||
Total Liabilities | 56,965,715 | |||
Net Assets | $ | 1,075,193,613 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 968,129,288 | ||
Total accumulated earnings (loss) | 107,064,325 | |||
Net Assets | $ | 1,075,193,613 | ||
Net Asset Value, offering price and redemption price per share ($1,075,193,613 ÷ 107,743,313 shares) | $ | 9.98 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 5,903,495 | ||
Income from Fidelity Central Funds (including $66,688 from security lending) | 1,201,162 | |||
Total Income | 7,104,657 | |||
Expenses | ||||
Custodian fees and expenses | $ | 12,162 | ||
Independent trustees' fees and expenses | 2,834 | |||
Total expenses before reductions | 14,996 | |||
Expense reductions | (765) | |||
Total expenses after reductions | 14,231 | |||
Net Investment income (loss) | 7,090,426 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 25,382,050 | |||
Foreign currency transactions | 4,616 | |||
Total net realized gain (loss) | 25,386,666 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (50,644,278) | |||
Assets and liabilities in foreign currencies | (7,681) | |||
Total change in net unrealized appreciation (depreciation) | (50,651,959) | |||
Net gain (loss) | (25,265,293) | |||
Net increase (decrease) in net assets resulting from operations | $ | (18,174,867) |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 7,090,426 | $ | 15,428,501 |
Net realized gain (loss) | 25,386,666 | 55,652,940 | ||
Change in net unrealized appreciation (depreciation) | (50,651,959) | (82,903,683) | ||
Net increase (decrease) in net assets resulting from operations | (18,174,867) | (11,822,242) | ||
Distributions to shareholders | (2,527,267) | (216,852,104) | ||
Share transactions | ||||
Proceeds from sales of shares | 86,443,729 | 146,433,073 | ||
Reinvestment of distributions | 2,527,267 | 216,852,104 | ||
Cost of shares redeemed | (142,278,448) | (280,746,366) | ||
Net increase (decrease) in net assets resulting from share transactions | (53,307,452) | 82,538,811 | ||
Total increase (decrease) in net assets | (74,009,586) | (146,135,535) | ||
Net Assets | ||||
Beginning of period | 1,149,203,199 | 1,295,338,734 | ||
End of period | $ | 1,075,193,613 | $ | 1,149,203,199 |
Other Information | ||||
Shares | ||||
Sold | 8,293,402 | 14,162,287 | ||
Issued in reinvestment of distributions | 239,779 | 21,076,097 | ||
Redeemed | (13,175,507) | (26,578,442) | ||
Net increase (decrease) | (4,642,326) | 8,659,942 | ||
Fidelity® Series Small Cap Discovery Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.23 | $ | 12.49 | $ | 15.20 | $ | 8.73 | $ | 11.70 | $ | 12.40 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .07 | .14 | .14 | .12 | .15 | .20 C | ||||||
Net realized and unrealized gain (loss) | (.30) | (.34) | (.33) | 6.68 | (2.35) | .59 | ||||||
Total from investment operations | (.23) | (.20) | (.19) | 6.80 | (2.20) | .79 | ||||||
Distributions from net investment income | (.02) | (.15) | (.14) | (.12) | (.16) | (.19) | ||||||
Distributions from net realized gain | - | (1.92) | (2.38) | (.21) | (.61) | (1.30) | ||||||
Total distributions | (.02) | (2.06) D | (2.52) | (.33) | (.77) | (1.49) | ||||||
Net asset value, end of period | $ | 9.98 | $ | 10.23 | $ | 12.49 | $ | 15.20 | $ | 8.73 | $ | 11.70 |
Total Return E,F | (2.23)% | (1.01)% | (2.37)% | 78.91% | (20.16)% | 7.68% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions I | -% J | -% | -% | -% | -% | -% | ||||||
Expenses net of fee waivers, if any I | -% J | -% | -% | -% | -% | -% | ||||||
Expenses net of all reductions I | -% J | -% | -% | -% | -% | -% | ||||||
Net investment income (loss) | 1.25% J | 1.31% | 1.01% | 1.03% | 1.38% | 1.73% C | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,075,194 | $ | 1,149,203 | $ | 1,295,339 | $ | 1,510,555 | $ | 1,152,206 | $ | 1,707,498 |
Portfolio turnover rate K | 50% J | 31% | 25% | 28% | 51% | 41% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $227,358,624 |
Gross unrealized depreciation | (152,209,737) |
Net unrealized appreciation (depreciation) | $75,148,887 |
Tax cost | $1,052,097,047 |
Purchases ($) | Sales ($) | |
Fidelity Series Small Cap Discovery Fund | 272,375,691 | 320,844,544 |
Amount | |
Fidelity Series Small Cap Discovery Fund | $ 5,565 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Small Cap Discovery Fund | 12,065,182 | 11,073,843 | 1,707,279 |
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 Series Small Cap Discovery Fund | $7,070 | $7 | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Series Small Cap Discovery Fund | -%-D | |||||||||
Actual | $ 1,000 | $ 977.70 | $-E | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.14 | $-E | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.5 | |
Exxon Mobil Corp. | 7.0 | |
General Electric Co. | 6.5 | |
Wells Fargo & Co. | 5.2 | |
Apple, Inc. | 3.1 | |
Bank of America Corp. | 2.4 | |
The Boeing Co. | 2.2 | |
UnitedHealth Group, Inc. | 2.1 | |
Hess Corp. | 2.1 | |
Comcast Corp. Class A | 2.0 | |
40.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 17.6 | |
Financials | 15.9 | |
Industrials | 15.2 | |
Health Care | 13.3 | |
Energy | 11.3 | |
Communication Services | 9.8 | |
Consumer Staples | 5.4 | |
Consumer Discretionary | 3.5 | |
Materials | 2.2 | |
Utilities | 1.1 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 96.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.8% | |||
Diversified Telecommunication Services - 0.3% | |||
Cellnex Telecom SA (a) | 123,252 | 3,623 | |
Verizon Communications, Inc. | 151,974 | 5,339 | |
8,962 | |||
Entertainment - 0.9% | |||
The Walt Disney Co. (b) | 159,929 | 13,049 | |
Universal Music Group NV | 610,763 | 14,957 | |
28,006 | |||
Interactive Media & Services - 6.1% | |||
Alphabet, Inc.: | |||
Class A (b) | 445,580 | 55,288 | |
Class C (b) | 412,041 | 51,629 | |
Match Group, Inc. (b) | 231,840 | 8,022 | |
Meta Platforms, Inc. Class A (b) | 201,579 | 60,730 | |
Snap, Inc. Class A (b) | 807,228 | 8,080 | |
183,749 | |||
Media - 2.5% | |||
Charter Communications, Inc. Class A (b) | 5,699 | 2,296 | |
Comcast Corp. Class A | 1,481,590 | 61,175 | |
Interpublic Group of Companies, Inc. | 381,584 | 10,837 | |
74,308 | |||
TOTAL COMMUNICATION SERVICES | 295,025 | ||
CONSUMER DISCRETIONARY - 3.5% | |||
Automobile Components - 0.2% | |||
BorgWarner, Inc. | 133,018 | 4,908 | |
Automobiles - 0.1% | |||
General Motors Co. | 64,694 | 1,824 | |
Broadline Retail - 0.1% | |||
Amazon.com, Inc. (b) | 31,544 | 4,198 | |
Hotels, Restaurants & Leisure - 1.8% | |||
Amadeus IT Holding SA Class A | 83,033 | 4,728 | |
Booking Holdings, Inc. (b) | 11,401 | 31,804 | |
Expedia, Inc. (b) | 52,940 | 5,045 | |
Marriott International, Inc. Class A | 48,528 | 9,150 | |
Starbucks Corp. | 41,483 | 3,826 | |
54,553 | |||
Household Durables - 0.3% | |||
Mohawk Industries, Inc. (b) | 63,528 | 5,106 | |
Sony Group Corp. sponsored ADR | 42,963 | 3,568 | |
Whirlpool Corp. | 12,974 | 1,357 | |
10,031 | |||
Specialty Retail - 0.9% | |||
Lowe's Companies, Inc. | 130,510 | 24,871 | |
RH (b) | 8,400 | 1,831 | |
26,702 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
NIKE, Inc. Class B | 24,290 | 2,496 | |
TOTAL CONSUMER DISCRETIONARY | 104,712 | ||
CONSUMER STAPLES - 5.4% | |||
Beverages - 1.7% | |||
Diageo PLC sponsored ADR (c) | 80,459 | 12,350 | |
Keurig Dr. Pepper, Inc. | 405,499 | 12,299 | |
The Coca-Cola Co. | 447,958 | 25,305 | |
49,954 | |||
Consumer Staples Distribution & Retail - 1.5% | |||
Costco Wholesale Corp. | 3,588 | 1,982 | |
Performance Food Group Co. (b) | 109,114 | 6,302 | |
Sysco Corp. | 234,192 | 15,571 | |
Target Corp. | 69,992 | 7,754 | |
U.S. Foods Holding Corp. (b) | 136,265 | 5,306 | |
Walmart, Inc. | 52,357 | 8,556 | |
45,471 | |||
Household Products - 0.0% | |||
Colgate-Palmolive Co. | 3,090 | 232 | |
Procter & Gamble Co. | 3,999 | 600 | |
832 | |||
Personal Care Products - 1.5% | |||
Estee Lauder Companies, Inc. Class A | 50,100 | 6,456 | |
Haleon PLC ADR | 2,258,237 | 18,269 | |
Kenvue, Inc. | 1,065,016 | 19,809 | |
44,534 | |||
Tobacco - 0.7% | |||
Altria Group, Inc. | 500,161 | 20,091 | |
Philip Morris International, Inc. | 26,300 | 2,345 | |
22,436 | |||
TOTAL CONSUMER STAPLES | 163,227 | ||
ENERGY - 11.3% | |||
Energy Equipment & Services - 0.0% | |||
Baker Hughes Co. Class A | 21,486 | 740 | |
Oil, Gas & Consumable Fuels - 11.3% | |||
Exxon Mobil Corp. | 1,994,878 | 211,158 | |
Hess Corp. | 428,255 | 61,840 | |
Imperial Oil Ltd. | 403,688 | 23,006 | |
Kosmos Energy Ltd. (b) | 2,473,918 | 17,911 | |
MEG Energy Corp. (b) | 576,400 | 11,389 | |
Shell PLC ADR | 207,000 | 13,484 | |
338,788 | |||
TOTAL ENERGY | 339,528 | ||
FINANCIALS - 15.9% | |||
Banks - 10.8% | |||
Bank of America Corp. | 2,719,295 | 71,626 | |
JPMorgan Chase & Co. | 226,958 | 31,561 | |
M&T Bank Corp. | 58,684 | 6,617 | |
PNC Financial Services Group, Inc. | 238,705 | 27,325 | |
Truist Financial Corp. | 374,686 | 10,626 | |
U.S. Bancorp | 640,694 | 20,425 | |
Wells Fargo & Co. | 3,969,298 | 157,859 | |
326,039 | |||
Capital Markets - 1.7% | |||
Charles Schwab Corp. | 5,998 | 312 | |
CME Group, Inc. | 3,999 | 854 | |
KKR & Co. LP | 290,678 | 16,104 | |
Morgan Stanley | 116,762 | 8,269 | |
Northern Trust Corp. | 307,378 | 20,259 | |
Raymond James Financial, Inc. | 43,033 | 4,107 | |
State Street Corp. | 27,455 | 1,774 | |
51,679 | |||
Financial Services - 3.2% | |||
Acacia Research Corp. (b) | 24,000 | 86 | |
Edenred SA | 180,291 | 9,584 | |
Fidelity National Information Services, Inc. | 122,999 | 6,040 | |
Global Payments, Inc. | 24,750 | 2,629 | |
MasterCard, Inc. Class A | 29,713 | 11,182 | |
PayPal Holdings, Inc. (b) | 80,644 | 4,177 | |
Radian Group, Inc. | 177,398 | 4,495 | |
Visa, Inc. Class A | 240,648 | 56,576 | |
94,769 | |||
Insurance - 0.2% | |||
Chubb Ltd. | 30,106 | 6,461 | |
TOTAL FINANCIALS | 478,948 | ||
HEALTH CARE - 13.3% | |||
Biotechnology - 0.5% | |||
Alnylam Pharmaceuticals, Inc. (b) | 33,046 | 5,016 | |
Argenx SE ADR (b) | 4,990 | 2,343 | |
Insmed, Inc. (b) | 135,222 | 3,389 | |
Vaxcyte, Inc. (b) | 88,285 | 4,247 | |
Verve Therapeutics, Inc. (b)(c) | 48,505 | 584 | |
15,579 | |||
Health Care Equipment & Supplies - 2.5% | |||
Abbott Laboratories | 19,765 | 1,869 | |
Becton, Dickinson & Co. | 31,284 | 7,908 | |
Boston Scientific Corp. (b) | 817,429 | 41,844 | |
GE Healthcare Holding LLC | 321,632 | 21,411 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) | 145,946 | 2,767 | |
75,799 | |||
Health Care Providers & Services - 6.1% | |||
Cardinal Health, Inc. | 204,268 | 18,588 | |
Centene Corp. (b) | 25,216 | 1,739 | |
Cigna Group | 134,669 | 41,640 | |
CVS Health Corp. | 241,307 | 16,653 | |
Guardant Health, Inc. (b) | 63,633 | 1,647 | |
Humana, Inc. | 10,865 | 5,690 | |
McKesson Corp. | 70,643 | 32,168 | |
UnitedHealth Group, Inc. | 120,833 | 64,713 | |
182,838 | |||
Life Sciences Tools & Services - 0.3% | |||
Danaher Corp. | 46,534 | 8,935 | |
Thermo Fisher Scientific, Inc. | 2,800 | 1,245 | |
10,180 | |||
Pharmaceuticals - 3.9% | |||
Bristol-Myers Squibb Co. | 785,706 | 40,487 | |
Eli Lilly & Co. | 43,997 | 24,371 | |
GSK PLC sponsored ADR | 584,701 | 20,874 | |
Johnson & Johnson | 147,780 | 21,922 | |
Sanofi SA sponsored ADR | 48,298 | 2,185 | |
UCB SA | 82,100 | 5,999 | |
115,838 | |||
TOTAL HEALTH CARE | 400,234 | ||
INDUSTRIALS - 15.0% | |||
Aerospace & Defense - 3.6% | |||
Airbus Group NV | 129,887 | 17,415 | |
General Dynamics Corp. | 38,892 | 9,385 | |
Howmet Aerospace, Inc. | 6,400 | 282 | |
Huntington Ingalls Industries, Inc. | 26,322 | 5,786 | |
RTX Corp. (c) | 40,526 | 3,298 | |
Safran SA | 25,027 | 3,910 | |
Textron, Inc. | 28,996 | 2,204 | |
The Boeing Co. (b) | 361,333 | 67,504 | |
109,784 | |||
Air Freight & Logistics - 1.5% | |||
FedEx Corp. | 60,076 | 14,424 | |
United Parcel Service, Inc. Class B | 226,887 | 32,048 | |
46,472 | |||
Building Products - 0.1% | |||
Johnson Controls International PLC | 42,160 | 2,067 | |
Commercial Services & Supplies - 0.2% | |||
ACV Auctions, Inc. Class A (b) | 240,349 | 3,204 | |
Veralto Corp. | 21,144 | 1,459 | |
4,663 | |||
Electrical Equipment - 1.4% | |||
Acuity Brands, Inc. | 51,158 | 8,286 | |
Hubbell, Inc. Class B | 34,145 | 9,223 | |
Regal Rexnord Corp. | 50,175 | 5,941 | |
Vertiv Holdings Co. | 489,645 | 19,228 | |
42,678 | |||
Ground Transportation - 0.4% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 230,419 | 11,265 | |
Industrial Conglomerates - 6.6% | |||
3M Co. | 25,955 | 2,361 | |
General Electric Co. | 1,807,771 | 196,378 | |
198,739 | |||
Machinery - 0.8% | |||
Chart Industries, Inc. (b)(c) | 33,595 | 3,905 | |
Cummins, Inc. | 20,243 | 4,379 | |
Fortive Corp. | 87,720 | 5,726 | |
Nordson Corp. | 2,700 | 574 | |
Otis Worldwide Corp. | 56,260 | 4,344 | |
Stanley Black & Decker, Inc. | 38,017 | 3,233 | |
Westinghouse Air Brake Tech Co. | 31,772 | 3,368 | |
25,529 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 9,271 | 757 | |
Ryanair Holdings PLC sponsored ADR (b) | 27,911 | 2,448 | |
3,205 | |||
Professional Services - 0.3% | |||
Equifax, Inc. | 12,265 | 2,080 | |
Genpact Ltd. | 108,286 | 3,632 | |
Paycom Software, Inc. | 7,600 | 1,862 | |
7,574 | |||
Trading Companies & Distributors - 0.0% | |||
Beijer Ref AB (B Shares) (c) | 133,602 | 1,265 | |
TOTAL INDUSTRIALS | 453,241 | ||
INFORMATION TECHNOLOGY - 17.6% | |||
IT Services - 0.4% | |||
EPAM Systems, Inc. (b) | 8,700 | 1,893 | |
IBM Corp. | 33,095 | 4,787 | |
Snowflake, Inc. (b) | 1,894 | 275 | |
Twilio, Inc. Class A (b) | 66,013 | 3,384 | |
10,339 | |||
Semiconductors & Semiconductor Equipment - 3.5% | |||
Analog Devices, Inc. | 36,285 | 5,709 | |
Applied Materials, Inc. | 64,746 | 8,569 | |
Broadcom, Inc. | 11,200 | 9,423 | |
Lam Research Corp. | 12,266 | 7,215 | |
Marvell Technology, Inc. | 370,449 | 17,493 | |
NVIDIA Corp. | 90,884 | 37,062 | |
Qualcomm, Inc. | 99,724 | 10,869 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 105,784 | 9,130 | |
105,470 | |||
Software - 10.5% | |||
Adobe, Inc. (b) | 54,947 | 29,235 | |
Autodesk, Inc. (b) | 32,420 | 6,407 | |
DoubleVerify Holdings, Inc. (b) | 46,951 | 1,307 | |
Elastic NV (b) | 95,918 | 7,198 | |
Intuit, Inc. | 18,296 | 9,056 | |
Microsoft Corp. | 670,693 | 226,774 | |
PTC, Inc. (b) | 27,510 | 3,863 | |
Sage Group PLC | 75,600 | 892 | |
Salesforce, Inc. (b) | 13,466 | 2,704 | |
SAP SE sponsored ADR (c) | 196,878 | 26,382 | |
Workday, Inc. Class A (b) | 9,271 | 1,963 | |
315,781 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 550,718 | 94,046 | |
Samsung Electronics Co. Ltd. | 65,110 | 3,236 | |
97,282 | |||
TOTAL INFORMATION TECHNOLOGY | 528,872 | ||
MATERIALS - 2.2% | |||
Chemicals - 0.6% | |||
DuPont de Nemours, Inc. | 178,743 | 13,027 | |
LyondellBasell Industries NV Class A | 50,497 | 4,557 | |
Sherwin-Williams Co. | 5,799 | 1,381 | |
18,965 | |||
Metals & Mining - 1.6% | |||
First Quantum Minerals Ltd. | 1,360,166 | 15,762 | |
Freeport-McMoRan, Inc. | 869,535 | 29,373 | |
Ivanhoe Mines Ltd. (b) | 321,500 | 2,369 | |
47,504 | |||
TOTAL MATERIALS | 66,469 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
American Tower Corp. | 41,847 | 7,457 | |
Crown Castle International Corp. | 108,093 | 10,050 | |
Equinix, Inc. | 1,121 | 818 | |
Simon Property Group, Inc. | 106,709 | 11,726 | |
30,051 | |||
UTILITIES - 1.1% | |||
Electric Utilities - 1.1% | |||
Duke Energy Corp. | 7,000 | 622 | |
Entergy Corp. | 26,415 | 2,525 | |
PG&E Corp. (b) | 147,871 | 2,410 | |
Southern Co. | 383,086 | 25,782 | |
31,339 | |||
Multi-Utilities - 0.0% | |||
Sempra | 14,482 | 1,014 | |
TOTAL UTILITIES | 32,353 | ||
TOTAL COMMON STOCKS (Cost $2,018,977) | 2,892,660 | ||
Preferred Stocks - 0.2% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 0.0% | |||
COMMUNICATION SERVICES - 0.0% | |||
Interactive Media & Services - 0.0% | |||
Reddit, Inc. Series E (b)(d)(e) | 3,600 | 112 | |
Nonconvertible Preferred Stocks - 0.2% | |||
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Embraer SA sponsored ADR (b) | 347,490 | 4,844 | |
TOTAL PREFERRED STOCKS (Cost $4,290) | 4,956 | ||
Money Market Funds - 5.0% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (f) | 106,641,437 | 106,663 | |
Fidelity Securities Lending Cash Central Fund 5.40% (f)(g) | 44,651,884 | 44,656 | |
TOTAL MONEY MARKET FUNDS (Cost $151,319) | 151,319 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $2,174,586) | 3,048,935 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (39,447) |
NET ASSETS - 100.0% | 3,009,488 |
(a) | 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 $3,623,000 or 0.1% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $112,000 or 0.0% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Reddit, Inc. Series E | 5/18/21 | 153 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 126,781 | 115,578 | 135,696 | 2,949 | - | - | 106,663 | 0.2% |
Fidelity Securities Lending Cash Central Fund 5.40% | 21,437 | 173,742 | 150,523 | 186 | - | - | 44,656 | 0.2% |
Total | 148,218 | 289,320 | 286,219 | 3,135 | - | - | 151,319 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 295,137 | 276,445 | 18,580 | 112 |
Consumer Discretionary | 104,712 | 104,712 | - | - |
Consumer Staples | 163,227 | 163,227 | - | - |
Energy | 339,528 | 339,528 | - | - |
Financials | 478,948 | 478,948 | - | - |
Health Care | 400,234 | 400,234 | - | - |
Industrials | 458,085 | 436,760 | 21,325 | - |
Information Technology | 528,872 | 525,636 | 3,236 | - |
Materials | 66,469 | 66,469 | - | - |
Real Estate | 30,051 | 30,051 | - | - |
Utilities | 32,353 | 32,353 | - | - |
Money Market Funds | 151,319 | 151,319 | - | - |
Total Investments in Securities: | 3,048,935 | 3,005,682 | 43,141 | 112 |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amount) | October 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $43,928) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,023,267) | $ | 2,897,616 | ||
Fidelity Central Funds (cost $151,319) | 151,319 | |||
Total Investment in Securities (cost $2,174,586) | $ | 3,048,935 | ||
Foreign currency held at value (cost $67) | 67 | |||
Receivable for investments sold | 7,182 | |||
Receivable for fund shares sold | 7,050 | |||
Dividends receivable | 2,207 | |||
Distributions receivable from Fidelity Central Funds | 524 | |||
Prepaid expenses | 4 | |||
Total assets | 3,065,969 | |||
Liabilities | ||||
Payable for investments purchased | $ | 5,676 | ||
Payable for fund shares redeemed | 3,844 | |||
Accrued management fee | 1,820 | |||
Other affiliated payables | 441 | |||
Other payables and accrued expenses | 41 | |||
Collateral on securities loaned | 44,659 | |||
Total Liabilities | 56,481 | |||
Net Assets | $ | 3,009,488 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,069,223 | ||
Total accumulated earnings (loss) | 940,265 | |||
Net Assets | $ | 3,009,488 | ||
Net Asset Value, offering price and redemption price per share ($3,009,488 ÷ 73,938 shares) | $ | 40.70 |
Statement of Operations | ||||
Amounts in thousands | Six months ended October 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 26,956 | ||
Income from Fidelity Central Funds (including $186 from security lending) | 3,135 | |||
Total Income | 30,091 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 8,102 | ||
Performance adjustment | 2,852 | |||
Transfer agent fees | 2,233 | |||
Accounting fees | 401 | |||
Independent trustees' fees and expenses | 8 | |||
Registration fees | 46 | |||
Audit | 31 | |||
Legal | 4 | |||
Miscellaneous | 7 | |||
Total expenses before reductions | 13,684 | |||
Expense reductions | (116) | |||
Total expenses after reductions | 13,568 | |||
Net Investment income (loss) | 16,523 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 54,174 | |||
Foreign currency transactions | 9 | |||
Total net realized gain (loss) | 54,183 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (72,716) | |||
Assets and liabilities in foreign currencies | (18) | |||
Total change in net unrealized appreciation (depreciation) | (72,734) | |||
Net gain (loss) | (18,551) | |||
Net increase (decrease) in net assets resulting from operations | $ | (2,028) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 16,523 | $ | 35,800 |
Net realized gain (loss) | 54,183 | 20,894 | ||
Change in net unrealized appreciation (depreciation) | (72,734) | 169,949 | ||
Net increase (decrease) in net assets resulting from operations | (2,028) | 226,643 | ||
Distributions to shareholders | (18,660) | (83,013) | ||
Share transactions | ||||
Proceeds from sales of shares | 261,724 | 710,784 | ||
Reinvestment of distributions | 13,820 | 62,219 | ||
Cost of shares redeemed | (270,615) | (760,670) | ||
Net increase (decrease) in net assets resulting from share transactions | 4,929 | 12,333 | ||
Total increase (decrease) in net assets | (15,759) | 155,963 | ||
Net Assets | ||||
Beginning of period | 3,025,247 | 2,869,284 | ||
End of period | $ | 3,009,488 | $ | 3,025,247 |
Other Information | ||||
Shares | ||||
Sold | 6,232 | 19,028 | ||
Issued in reinvestment of distributions | 333 | 1,672 | ||
Redeemed | (6,470) | (20,438) | ||
Net increase (decrease) | 95 | 262 | ||
Fidelity® Large Cap Stock Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 40.97 | $ | 39.00 | $ | 41.09 | $ | 27.80 | $ | 32.11 | $ | 33.02 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .22 | .49 | .75 C | .57 | .63 | .63 | ||||||
Net realized and unrealized gain (loss) | (.23) | 2.64 | (.86) | 14.10 | (3.12) | 2.17 | ||||||
Total from investment operations | (.01) | 3.13 | (.11) | 14.67 | (2.49) | 2.80 | ||||||
Distributions from net investment income | (.16) | (.48) | (.77) | (.65) | (.62) | (.53) D | ||||||
Distributions from net realized gain | (.09) | (.68) | (1.21) | (.73) | (1.20) | (3.18) D | ||||||
Total distributions | (.26) E | (1.16) | (1.98) | (1.38) | (1.82) | (3.71) | ||||||
Net asset value, end of period | $ | 40.70 | $ | 40.97 | $ | 39.00 | $ | 41.09 | $ | 27.80 | $ | 32.11 |
Total Return F,G | (.05)% | 8.33% | (.46)% | 54.08% | (8.41)% | 9.57% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .88% J | .76% | .54% | .48% | .47% | .63% | ||||||
Expenses net of fee waivers, if any | .88% J | .76% | .53% | .48% | .47% | .63% | ||||||
Expenses net of all reductions | .88% J | .76% | .53% | .48% | .47% | .62% | ||||||
Net investment income (loss) | 1.07% J | 1.29% | 1.80% C | 1.73% | 2.05% | 1.96% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 3,009 | $ | 3,025 | $ | 2,869 | $ | 2,969 | $ | 2,173 | $ | 2,796 |
Portfolio turnover rate K | 15% J | 8% L | 15% L | 18% | 32% L | 35% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $1,018,956 |
Gross unrealized depreciation | (148,881) |
Net unrealized appreciation (depreciation) | $870,075 |
Tax cost | $2,178,860 |
Purchases ($) | Sales ($) | |
Fidelity Large Cap Stock Fund | 252,231 | 227,979 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Large Cap Stock Fund | 194 | 3,730 | 7,555 |
% of Average Net Assets | |
Fidelity Large Cap Stock Fund | .03 |
% of Average Net Assets | |
Fidelity Large Cap Stock Fund | 0.0257% |
Amount | |
Fidelity Large Cap Stock Fund | $ 4 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Large Cap Stock Fund | 12,359 | 5,448 | 1,472 |
Amount | |
Fidelity Large Cap Stock Fund | $3 |
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 Stock Fund | $18 | $ - | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Large Cap Stock Fund | .88% | |||||||||
Actual | $ 1,000 | $ 999.50 | $ 4.42 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.71 | $ 4.47 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Performance Food Group Co. | 2.7 | |
Grand Canyon Education, Inc. | 2.6 | |
Vertiv Holdings Co. | 2.5 | |
FirstCash Holdings, Inc. | 2.1 | |
Antero Resources Corp. | 2.1 | |
LGI Homes, Inc. | 2.1 | |
Murphy U.S.A., Inc. | 2.0 | |
Boston Beer Co., Inc. Class A | 1.9 | |
Insight Enterprises, Inc. | 1.7 | |
First American Financial Corp. | 1.7 | |
21.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 21.3 | |
Financials | 16.5 | |
Consumer Discretionary | 14.3 | |
Health Care | 11.9 | |
Information Technology | 11.5 | |
Energy | 7.9 | |
Consumer Staples | 6.2 | |
Materials | 4.0 | |
Real Estate | 3.3 | |
Communication Services | 1.2 | |
Utilities | 0.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 1.2% | |||
Diversified Telecommunication Services - 0.0% | |||
GCI Liberty, Inc. Class A (a) | 8,092 | 0 | |
Media - 1.2% | |||
TechTarget, Inc. (b) | 9,082 | 228,685 | |
Thryv Holdings, Inc. (b) | 23,259 | 405,404 | |
634,089 | |||
TOTAL COMMUNICATION SERVICES | 634,089 | ||
CONSUMER DISCRETIONARY - 14.3% | |||
Automobile Components - 1.0% | |||
Fox Factory Holding Corp. (b) | 3,311 | 269,747 | |
Patrick Industries, Inc. | 3,356 | 252,203 | |
521,950 | |||
Diversified Consumer Services - 2.6% | |||
Grand Canyon Education, Inc. (b) | 11,561 | 1,368,013 | |
Hotels, Restaurants & Leisure - 1.0% | |||
Planet Fitness, Inc. (b) | 9,223 | 509,755 | |
Household Durables - 4.0% | |||
Cavco Industries, Inc. (b) | 1,273 | 317,626 | |
Helen of Troy Ltd. (b) | 6,106 | 600,342 | |
LGI Homes, Inc. (b) | 11,508 | 1,087,621 | |
Traeger, Inc. (b) | 49,022 | 128,928 | |
2,134,517 | |||
Leisure Products - 2.9% | |||
Brunswick Corp. | 9,527 | 661,841 | |
Clarus Corp. | 23,475 | 135,920 | |
Games Workshop Group PLC | 200 | 24,005 | |
YETI Holdings, Inc. (b)(c) | 16,599 | 705,789 | |
1,527,555 | |||
Specialty Retail - 2.5% | |||
America's Car Mart, Inc. (b) | 3,926 | 262,963 | |
Murphy U.S.A., Inc. | 2,971 | 1,077,552 | |
1,340,515 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Wolverine World Wide, Inc. | 19,568 | 157,522 | |
TOTAL CONSUMER DISCRETIONARY | 7,559,827 | ||
CONSUMER STAPLES - 6.2% | |||
Beverages - 1.9% | |||
Boston Beer Co., Inc. Class A (b) | 2,997 | 1,000,848 | |
Consumer Staples Distribution & Retail - 2.7% | |||
Performance Food Group Co. (b) | 25,375 | 1,465,667 | |
Food Products - 1.6% | |||
Lassonde Industries, Inc. Class A (sub. vtg.) | 2,200 | 218,691 | |
Nomad Foods Ltd. (b) | 45,066 | 622,812 | |
841,503 | |||
TOTAL CONSUMER STAPLES | 3,308,018 | ||
ENERGY - 7.9% | |||
Energy Equipment & Services - 2.8% | |||
Cactus, Inc. | 12,924 | 606,653 | |
TechnipFMC PLC | 39,620 | 852,622 | |
1,459,275 | |||
Oil, Gas & Consumable Fuels - 5.1% | |||
Antero Resources Corp. (b) | 37,919 | 1,116,335 | |
Northern Oil & Gas, Inc. | 18,886 | 724,089 | |
Sitio Royalties Corp. | 35,421 | 875,607 | |
2,716,031 | |||
TOTAL ENERGY | 4,175,306 | ||
FINANCIALS - 16.5% | |||
Banks - 5.3% | |||
Cadence Bank | 20,763 | 439,760 | |
ConnectOne Bancorp, Inc. | 25,551 | 416,226 | |
Glacier Bancorp, Inc. | 15,884 | 479,538 | |
Independent Bank Group, Inc. | 15,687 | 554,535 | |
Metropolitan Bank Holding Corp. (b) | 12,548 | 406,681 | |
Synovus Financial Corp. | 19,047 | 496,555 | |
2,793,295 | |||
Capital Markets - 1.6% | |||
StoneX Group, Inc. (b) | 9,000 | 857,880 | |
Consumer Finance - 4.1% | |||
Encore Capital Group, Inc. (b) | 20,765 | 782,425 | |
FirstCash Holdings, Inc. | 10,461 | 1,139,412 | |
NerdWallet, Inc. (b) | 24,537 | 264,509 | |
2,186,346 | |||
Financial Services - 1.0% | |||
Enact Holdings, Inc. | 8,702 | 239,827 | |
Walker & Dunlop, Inc. | 4,517 | 292,702 | |
532,529 | |||
Insurance - 4.5% | |||
BRP Group, Inc. (b) | 15,343 | 321,129 | |
First American Financial Corp. | 17,105 | 879,881 | |
Primerica, Inc. | 1,800 | 344,088 | |
Selective Insurance Group, Inc. | 8,211 | 854,847 | |
2,399,945 | |||
TOTAL FINANCIALS | 8,769,995 | ||
HEALTH CARE - 11.9% | |||
Biotechnology - 3.6% | |||
Allogene Therapeutics, Inc. (b) | 17,200 | 48,504 | |
ALX Oncology Holdings, Inc. (b) | 17,647 | 127,058 | |
Arcellx, Inc. (b) | 2,638 | 92,990 | |
Arcutis Biotherapeutics, Inc. (b) | 9,100 | 20,475 | |
Celldex Therapeutics, Inc. (b) | 5,000 | 117,600 | |
Cogent Biosciences, Inc. (b) | 7,600 | 62,016 | |
Crinetics Pharmaceuticals, Inc. (b) | 3,100 | 90,799 | |
Cytokinetics, Inc. (b) | 5,110 | 178,135 | |
Karuna Therapeutics, Inc. (b) | 708 | 117,960 | |
Keros Therapeutics, Inc. (b) | 3,557 | 101,517 | |
Madrigal Pharmaceuticals, Inc. (b) | 800 | 105,104 | |
ORIC Pharmaceuticals, Inc. (b)(c) | 10,700 | 71,690 | |
Prelude Therapeutics, Inc. (b) | 14,988 | 25,330 | |
Prothena Corp. PLC (b) | 2,500 | 91,150 | |
Tango Therapeutics, Inc. (b) | 7,231 | 60,740 | |
Tyra Biosciences, Inc. (b) | 3,400 | 39,440 | |
Vaxcyte, Inc. (b) | 4,798 | 230,784 | |
Viking Therapeutics, Inc. (b) | 7,200 | 70,632 | |
Xenon Pharmaceuticals, Inc. (b) | 3,263 | 101,153 | |
Zentalis Pharmaceuticals, Inc. (b) | 8,586 | 140,467 | |
1,893,544 | |||
Health Care Equipment & Supplies - 2.3% | |||
Envista Holdings Corp. (b) | 13,848 | 322,243 | |
Integer Holdings Corp. (b) | 3,148 | 255,523 | |
Neogen Corp. (b)(c) | 28,622 | 426,182 | |
TransMedics Group, Inc. (b) | 6,175 | 231,439 | |
1,235,387 | |||
Health Care Providers & Services - 4.1% | |||
Acadia Healthcare Co., Inc. (b) | 4,212 | 309,624 | |
AdaptHealth Corp. (b) | 40,226 | 294,857 | |
agilon health, Inc. (b) | 15,785 | 284,130 | |
Chemed Corp. | 1,261 | 709,502 | |
Owens & Minor, Inc. (b) | 25,339 | 363,108 | |
Privia Health Group, Inc. (b) | 9,619 | 202,191 | |
2,163,412 | |||
Health Care Technology - 0.7% | |||
Evolent Health, Inc. (b) | 9,673 | 236,311 | |
Phreesia, Inc. (b) | 8,181 | 111,752 | |
348,063 | |||
Life Sciences Tools & Services - 0.3% | |||
Bio-Rad Laboratories, Inc. Class A (b) | 350 | 96,348 | |
Maravai LifeSciences Holdings, Inc. (b) | 12,000 | 82,320 | |
178,668 | |||
Pharmaceuticals - 0.9% | |||
Edgewise Therapeutics, Inc. (b) | 13,142 | 84,109 | |
Enliven Therapeutics, Inc. (b) | 4,300 | 53,277 | |
Ikena Oncology, Inc. (b) | 19,584 | 78,924 | |
Intra-Cellular Therapies, Inc. (b) | 1,713 | 85,239 | |
Structure Therapeutics, Inc. ADR | 1,300 | 96,590 | |
Ventyx Biosciences, Inc. (b) | 4,779 | 68,913 | |
467,052 | |||
TOTAL HEALTH CARE | 6,286,126 | ||
INDUSTRIALS - 21.3% | |||
Aerospace & Defense - 2.1% | |||
Cadre Holdings, Inc. | 13,070 | 366,614 | |
Leonardo DRS, Inc. (b)(c) | 35,675 | 680,322 | |
Spirit AeroSystems Holdings, Inc. Class A | 3,300 | 74,580 | |
1,121,516 | |||
Air Freight & Logistics - 0.9% | |||
Forward Air Corp. | 7,398 | 476,505 | |
Building Products - 2.1% | |||
CSW Industrials, Inc. | 1,893 | 335,553 | |
Hayward Holdings, Inc. (b) | 76,410 | 802,305 | |
1,137,858 | |||
Construction & Engineering - 3.3% | |||
Bowman Consulting Group Ltd. (b) | 5,397 | 143,398 | |
EMCOR Group, Inc. | 1,599 | 330,433 | |
Granite Construction, Inc. | 12,346 | 499,766 | |
Willscot Mobile Mini Holdings (b) | 19,788 | 779,845 | |
1,753,442 | |||
Electrical Equipment - 4.5% | |||
Atkore, Inc. (b) | 3,394 | 421,806 | |
Generac Holdings, Inc. (b) | 7,274 | 611,525 | |
Vertiv Holdings Co. | 34,328 | 1,348,061 | |
2,381,392 | |||
Ground Transportation - 1.3% | |||
XPO, Inc. (b) | 8,940 | 677,741 | |
Machinery - 0.4% | |||
Beijer Alma AB (B Shares) | 12,070 | 191,823 | |
Professional Services - 5.4% | |||
Concentrix Corp. | 11,159 | 850,427 | |
ExlService Holdings, Inc. (b) | 16,294 | 425,436 | |
ICF International, Inc. | 4,639 | 587,900 | |
Kforce, Inc. | 7,954 | 485,512 | |
Maximus, Inc. | 6,664 | 497,934 | |
2,847,209 | |||
Trading Companies & Distributors - 1.3% | |||
Alligo AB (B Shares) | 18,214 | 142,939 | |
Applied Industrial Technologies, Inc. | 3,639 | 558,623 | |
701,562 | |||
TOTAL INDUSTRIALS | 11,289,048 | ||
INFORMATION TECHNOLOGY - 11.5% | |||
Communications Equipment - 1.4% | |||
Lumentum Holdings, Inc. (b) | 19,273 | 755,694 | |
Electronic Equipment, Instruments & Components - 2.7% | |||
Coherent Corp. (b) | 13,431 | 397,558 | |
Insight Enterprises, Inc. (b) | 6,207 | 889,463 | |
Mirion Technologies, Inc. Class A (b) | 19,688 | 136,438 | |
1,423,459 | |||
IT Services - 0.8% | |||
Endava PLC ADR (b) | 8,077 | 405,142 | |
Semiconductors & Semiconductor Equipment - 3.2% | |||
Allegro MicroSystems LLC (b) | 13,186 | 342,309 | |
MKS Instruments, Inc. | 3,649 | 239,593 | |
Onto Innovation, Inc. (b) | 4,912 | 551,961 | |
Silicon Motion Tech Corp. sponsored ADR | 7,878 | 422,103 | |
SMART Global Holdings, Inc. (b) | 10,155 | 139,124 | |
1,695,090 | |||
Software - 3.4% | |||
BlackLine, Inc. (b) | 8,394 | 412,145 | |
Five9, Inc. (b) | 3,323 | 192,302 | |
Intapp, Inc. (b) | 9,219 | 315,290 | |
JFrog Ltd. (b) | 8,529 | 191,817 | |
Rapid7, Inc. (b) | 9,677 | 449,884 | |
Sprout Social, Inc. (b)(c) | 5,469 | 236,698 | |
1,798,136 | |||
TOTAL INFORMATION TECHNOLOGY | 6,077,521 | ||
MATERIALS - 4.0% | |||
Chemicals - 2.5% | |||
Cabot Corp. | 7,368 | 489,825 | |
Olin Corp. | 11,074 | 473,081 | |
Tronox Holdings PLC | 32,444 | 346,826 | |
1,309,732 | |||
Construction Materials - 0.7% | |||
Eagle Materials, Inc. | 2,569 | 395,395 | |
Containers & Packaging - 0.8% | |||
Graphic Packaging Holding Co. | 18,413 | 396,064 | |
TOTAL MATERIALS | 2,101,191 | ||
REAL ESTATE - 3.3% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Ryman Hospitality Properties, Inc. | 3,437 | 294,207 | |
Terreno Realty Corp. | 7,242 | 385,854 | |
680,061 | |||
Real Estate Management & Development - 2.0% | |||
Cushman & Wakefield PLC (b) | 108,513 | 799,741 | |
Jones Lang LaSalle, Inc. (b) | 2,304 | 294,728 | |
1,094,469 | |||
TOTAL REAL ESTATE | 1,774,530 | ||
UTILITIES - 0.9% | |||
Gas Utilities - 0.9% | |||
Brookfield Infrastructure Corp. A Shares | 18,337 | 472,361 | |
TOTAL COMMON STOCKS (Cost $53,634,534) | 52,448,012 | ||
Money Market Funds - 4.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (d) | 502,196 | 502,296 | |
Fidelity Securities Lending Cash Central Fund 5.40% (d)(e) | 1,778,562 | 1,778,739 | |
TOTAL MONEY MARKET FUNDS (Cost $2,281,035) | 2,281,035 | ||
TOTAL INVESTMENT IN SECURITIES - 103.3% (Cost $55,915,569) | 54,729,047 |
NET OTHER ASSETS (LIABILITIES) - (3.3)% | (1,728,907) |
NET ASSETS - 100.0% | 53,000,140 |
(a) | Level 3 security |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 849,900 | 10,262,216 | 10,609,820 | 18,031 | - | - | 502,296 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.40% | 4,328,689 | 7,566,807 | 10,116,757 | 1,114 | - | - | 1,778,739 | 0.0% |
Total | 5,178,589 | 17,829,023 | 20,726,577 | 19,145 | - | - | 2,281,035 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 634,089 | 634,089 | - | - |
Consumer Discretionary | 7,559,827 | 7,559,827 | - | - |
Consumer Staples | 3,308,018 | 3,308,018 | - | - |
Energy | 4,175,306 | 4,175,306 | - | - |
Financials | 8,769,995 | 8,769,995 | - | - |
Health Care | 6,286,126 | 6,286,126 | - | - |
Industrials | 11,289,048 | 11,289,048 | - | - |
Information Technology | 6,077,521 | 6,077,521 | - | - |
Materials | 2,101,191 | 2,101,191 | - | - |
Real Estate | 1,774,530 | 1,774,530 | - | - |
Utilities | 472,361 | 472,361 | - | - |
Money Market Funds | 2,281,035 | 2,281,035 | - | - |
Total Investments in Securities: | 54,729,047 | 54,729,047 | - | - |
Statement of Assets and Liabilities | ||||
October 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $1,774,896) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $53,634,534) | $ | 52,448,012 | ||
Fidelity Central Funds (cost $2,281,035) | 2,281,035 | |||
Total Investment in Securities (cost $55,915,569) | $ | 54,729,047 | ||
Receivable for investments sold | 232,246 | |||
Receivable for fund shares sold | 1,366 | |||
Dividends receivable | 13,969 | |||
Distributions receivable from Fidelity Central Funds | 1,823 | |||
Other receivables | 2,951 | |||
Total assets | 54,981,402 | |||
Liabilities | ||||
Payable for investments purchased | $ | 175,752 | ||
Payable for fund shares redeemed | 48 | |||
Accrued management fee | 26,912 | |||
Collateral on securities loaned | 1,778,550 | |||
Total Liabilities | 1,981,262 | |||
Net Assets | $ | 53,000,140 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 56,905,805 | ||
Total accumulated earnings (loss) | (3,905,665) | |||
Net Assets | $ | 53,000,140 | ||
Net Asset Value, offering price and redemption price per share ($53,000,140 ÷ 5,698,212 shares) | $ | 9.30 |
Statement of Operations | ||||
Six months ended October 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 243,064 | ||
Income from Fidelity Central Funds (including $1,114 from security lending) | 19,145 | |||
Total Income | 262,209 | |||
Expenses | ||||
Management fee | $ | 173,192 | ||
Independent trustees' fees and expenses | 149 | |||
Legal | 151 | |||
Total expenses before reductions | 173,492 | |||
Expense reductions | (160) | |||
Total expenses after reductions | 173,332 | |||
Net Investment income (loss) | 88,877 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 968,875 | |||
Foreign currency transactions | 116 | |||
Total net realized gain (loss) | 968,991 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,547,048) | |||
Assets and liabilities in foreign currencies | (403) | |||
Total change in net unrealized appreciation (depreciation) | (3,547,451) | |||
Net gain (loss) | (2,578,460) | |||
Net increase (decrease) in net assets resulting from operations | $ | (2,489,583) |
Statement of Changes in Net Assets | ||||
Six months ended October 31, 2023 (Unaudited) | Year ended April 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 88,877 | $ | 93,965 |
Net realized gain (loss) | 968,991 | 7,390 | ||
Change in net unrealized appreciation (depreciation) | (3,547,451) | (1,428,049) | ||
Net increase (decrease) in net assets resulting from operations | (2,489,583) | (1,326,694) | ||
Distributions to shareholders | (22,747) | (4,797,169) | ||
Share transactions | ||||
Proceeds from sales of shares | 3,111,748 | 19,624,087 | ||
Reinvestment of distributions | 22,747 | 4,797,169 | ||
Cost of shares redeemed | (11,879,234) | (11,212,740) | ||
Net increase (decrease) in net assets resulting from share transactions | (8,744,739) | 13,208,516 | ||
Total increase (decrease) in net assets | (11,257,069) | 7,084,653 | ||
Net Assets | ||||
Beginning of period | 64,257,209 | 57,172,556 | ||
End of period | $ | 53,000,140 | $ | 64,257,209 |
Other Information | ||||
Shares | ||||
Sold | 314,039 | 2,032,499 | ||
Issued in reinvestment of distributions | 2,284 | 493,536 | ||
Redeemed | (1,207,532) | (1,162,566) | ||
Net increase (decrease) | (891,209) | 1,363,469 | ||
Fidelity® Small Cap Stock K6 Fund |
Six months ended (Unaudited) October 31, 2023 | Years ended April 30, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 9.75 | $ | 10.94 | $ | 15.61 | $ | 9.24 | $ | 11.16 | $ | 11.02 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .02 | .02 | .05 | .03 | .06 | .08 C | ||||||
Net realized and unrealized gain (loss) | (.47) | (.28) | (1.54) | 6.38 | (1.88) | .57 | ||||||
Total from investment operations | (.45) | (.26) | (1.49) | 6.41 | (1.82) | .65 | ||||||
Distributions from net investment income | - D | - | (.06) | (.04) | (.10) | (.05) | ||||||
Distributions from net realized gain | - | (.93) | (3.13) | - | - | (.46) | ||||||
Total distributions | - D | (.93) | (3.18) E | (.04) | (.10) | (.51) | ||||||
Net asset value, end of period | $ | 9.30 | $ | 9.75 | $ | 10.94 | $ | 15.61 | $ | 9.24 | $ | 11.16 |
Total Return F,G | (4.58)% | (2.39)% | (12.54)% | 69.44% | (16.50)% | 6.43% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .60% J | .60% | .60% | .60% | .60% | .60% | ||||||
Expenses net of fee waivers, if any | .60% J | .60% | .60% | .60% | .60% | .60% | ||||||
Expenses net of all reductions | .60% J | .60% | .60% | .56% | .60% | .59% | ||||||
Net investment income (loss) | .31% J | .16% | .35% | .27% | .58% | .71% C | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 53,000 | $ | 64,257 | $ | 57,173 | $ | 75,872 | $ | 72,029 | $ | 88,686 |
Portfolio turnover rate K | 101% J | 78% L | 148% L | 136% L | 73% L | 75% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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% |
Gross unrealized appreciation | $6,670,698 |
Gross unrealized depreciation | (8,223,066) |
Net unrealized appreciation (depreciation) | $(1,552,368) |
Tax cost | $56,281,415 |
Short-term | $(3,023,736) |
Purchases ($) | Sales ($) | |
Fidelity Small Cap Stock K6 Fund | 29,255,418 | 38,196,932 |
Shares | Total Proceeds($) | |
Fidelity Small Cap Stock K6 Fund | 281,051 | 2,609,414 |
Amount | |
Fidelity Small Cap Stock K6 Fund | $834 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Small Cap Stock K6 Fund | 1,112,541 | 1,162,132 | (21,221) |
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 Small Cap Stock K6 Fund | $96 | $- | $10,050 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2023 to October 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During Period- C May 1, 2023 to October 31, 2023 | |||||||
Fidelity® Small Cap Stock K6 Fund | .60% | |||||||||
Actual | $ 1,000 | $ 954.20 | $ 2.95 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.12 | $ 3.05 | |||||||
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 Concord Street Trust’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 Concord Street Trust’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 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
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 Concord Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | December 21, 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: | December 21, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | December 21, 2023 |