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46300.00000000 NS USD 6703314.00000000 0.274990521208 Long EC CORP US N 1 N N N BOEING CO RVHJWBXLJ1RFUBSY1F30 BOEING CO 097023105 47203.00000000 NS USD 6453594.16000000 0.264746246666 Long EC CORP US N 1 N N N ARITZIA INC 549300U83HKFRL1EX527 ARITZIA INC 04045U102 24000.00000000 NS 649782.47000000 0.026656071921 Long EC CORP CA N 1 N N N UNITED PARCEL SERVICE INC D01LMJZU09ULLNCY6Z23 UNITED PARCEL SERVICE INC CL B 911312106 15661.00000000 NS USD 2858758.94000000 0.117275068856 Long EC CORP US N 1 N N N HOWMET AEROSPACE INC 549300HO5WFZUT5N2T22 HOWMET AEROSPACE INC 443201108 92500.00000000 NS USD 2909125.00000000 0.119341239275 Long EC CORP US N 1 N N N PEABODY ENERGY CORP EJCO258LNNVSKAR2JX59 PEABODY ENERGY CORP 704551100 23000.00000000 NS USD 490590.00000000 0.020125508039 Long EC CORP US N 1 N N NETFLIX INC 549300Y7VHGU0I7CE873 NETFLIX INC 64110L106 38900.00000000 NS USD 6802443.00000000 0.279057097140 Long EC CORP US N 1 N N N TRAVELERS COS INC 549300Y650407RU8B149 TRAVELERS COMPANIES INC 89417E109 182842.00000000 NS USD 30924067.46000000 1.268600192189 Long EC CORP US N 1 N N N TWILIO INC 5493004W8TRGD63APX93 TWILIO INC CLASS A 90138F102 53200.00000000 NS USD 4458692.00000000 0.182909235191 Long EC CORP US N 1 N N N MONCLER SPA 815600EBD7FB00525B20 MONCLER SPA N/A 13867.00000000 NS 594791.59000000 0.024400177187 Long EC CORP IT N 1 N N N DIAGEO PLC 213800ZVIELEA55JMJ32 DIAGEO PLC N/A 524365.00000000 NS 22648749.46000000 0.929121240437 Long EC CORP GB N 2 N N N EOG RESOURCES INC XWTZDRYZPBUHIQBKDB46 EOG RESOURCES INC 26875P101 245519.00000000 NS USD 27115118.36000000 1.112345405637 Long EC CORP US N 1 N N N FEDEX CORP 549300E707U7WNPZN687 FEDEX CORP 31428X106 25200.00000000 NS USD 5713092.00000000 0.234368574527 Long EC CORP US N 1 N N N JD.COM INC 549300HVTWB0GJZ16V92 JD.COM INC SPON ADR 47215P106 76200.00000000 NS USD 4893564.00000000 0.200749019802 Long EC CORP KY N 1 N N N BYTEDANCE LTD N/A BYTEDANCE LTD SER E-1 PC PP N/A 17226.00000000 NS USD 2625931.44000000 0.107723769965 Long EP CORP CN Y 3 N N N DEVON ENERGY CORP NEW 54930042348RKR3ZPN35 DEVON ENERGY CORP 25179M103 85833.00000000 NS USD 4730256.63000000 0.194049650088 Long EC CORP US N 1 N N N CANADIAN NATURAL RESOURCES LTD 549300T15RIMIKZC5Q38 CANADIAN NATL RESOURCES LTD 136385101 511600.00000000 NS 27491743.32000000 1.127795717833 Long EC CORP CA N 1 N N N TRUIST FINANCIAL CORP 549300DRQQI75D2JP341 TRUIST FINL CORP 89832Q109 14056.00000000 NS USD 666676.08000000 0.027349099671 Long EC CORP US N 1 N N N CHIPOTLE MEXICAN GRILL INC N/A CHIPOTLE MEXICAN GRILL INC 169656105 600.00000000 NS USD 784356.00000000 0.032176691298 Long EC CORP US N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Securities Lending Cash Central Fund 31635A303 25777911.94700000 NS USD 25780489.74000000 1.057594841985 Long STIV RF US N 1 N N NVIDIA CORP 549300S4KLFTLO7GSQ80 NVIDIA CORP 67066G104 30711.00000000 NS USD 4655480.49000000 0.190982103243 Long EC CORP US N 1 N N N LIBERTY MEDIA CORP 549300ZKUTPIBZLWLL89 LIBERTY FORMULA ONE-C 531229854 11400.00000000 NS USD 723558.00000000 0.029682570672 Long EC CORP US N 1 N N N EVOZYNE LLC N/A EVOZYNE LLC SER A PC PP N/A 20000.00000000 NS USD 258800.00000000 0.010616770583 Long EP CORP US Y 3 N N N CENTENE CORP DEL 549300Z7JJ4TQSQGT333 CENTENE CORP 15135B101 381500.00000000 NS USD 32278715.00000000 1.324171993402 Long EC CORP US N 1 N N N MASTERCARD INC AR5L2ODV9HN37376R084 MASTERCARD INC CL A 57636Q104 186759.00000000 NS USD 58918729.32000000 2.417027172625 Long EC CORP US N 1 N N N DELTA AIRLINES INC Q2CCMS6R0AS67HJMBN42 DELTA AIR INC 247361702 66100.00000000 NS USD 1914917.00000000 0.078555774636 Long EC CORP US N 1 N N N ZOOM VIDEO COMMUNICATIONS INC 549300T9GCHU0ODOM055 ZOOM VIDEO COMMUNICATIONS INC CL A 98980L101 2400.00000000 NS USD 259128.00000000 0.010630226150 Long EC CORP US N 1 N N N WELLS FARGO and CO PBLD0EJDB5FWOLXP3B76 WELLS FARGO and CO 949746101 551668.00000000 NS USD 21608835.56000000 0.886460779451 Long EC CORP US N 1 N N N DUPONT DE NEMOURS INC 5493004JF0SDFLM8GD76 DUPONT DE NEMOURS INC 26614N102 15583.00000000 NS USD 866103.14000000 0.035530209966 Long EC CORP US N 1 N N N CARDINAL HEALTH INC CCU46N3GJMF4OK4N7U60 CARDINAL HEALTH INC 14149Y108 83800.00000000 NS USD 4380226.00000000 0.179690318960 Long EC CORP US N 1 N N N BANK OF AMERICA CORPORATION 9DJT3UXIJIZJI4WXO774 BANK OF AMERICA CORPORATION 060505104 833126.00000000 NS USD 25935212.38000000 1.063942039717 Long EC CORP US N 1 N N N AIRBNB INC 549300HMUDNO0RY56D37 AIRBNB INC CLASS A 009066101 98702.00000000 NS USD 8792374.16000000 0.360690182932 Long EC CORP US N 1 N N N HUMANA INC 529900YLDW34GJAO4J06 HUMANA INC 444859102 27275.00000000 NS USD 12766609.25000000 0.523725508266 Long EC CORP US N 1 N N N INSPIRE MEDICAL SYSTEMS INC 549300XQQCQ7HCJKTW25 INSPIRE MEDICAL SYSTEMS INC 457730109 4000.00000000 NS USD 730680.00000000 0.029974736978 Long EC CORP US N 1 N N N UNITEDHEALTH GROUP INC 549300GHBMY8T5GXDE41 UNITEDHEALTH GROUP INC 91324P102 232408.00000000 NS USD 119371721.04000000 4.896994499486 Long EC CORP US N 1 N N N EXELON CORP 3SOUA6IRML7435B56G12 EXELON CORP 30161N101 5400.00000000 NS USD 244728.00000000 0.010039493939 Long EC CORP US N 1 N N N FRANCO NEVADA CORP N/A FRANCO-NEVADA CORP 351858105 4111.00000000 NS 540766.41000000 0.022183898432 Long EC CORP CA N 1 N N N COMPASS GROUP PLC 2138008M6MH9OZ6U2T68 COMPASS GROUP PLC N/A 614805.00000000 NS 12622802.14000000 0.517826099088 Long EC CORP GB N 2 N N N MOSAIC CO 2YD5STGSJNMUB7H76907 MOSAIC CO NEW 61945C103 120300.00000000 NS USD 5681769.00000000 0.233083608897 Long EC CORP US N 1 N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 AMERICAN TOWER CORP 03027X100 18900.00000000 NS USD 4830651.00000000 0.198168135382 Long EC CORP US N 1 N N N DYNATRACE INC N/A DYNATRACE INC 268150109 49236.00000000 NS USD 1941867.84000000 0.079661380839 Long EC CORP US N 1 N N N HILTON WORLDWIDE HOLDINGS INC 549300HVGPK36ICB0B89 HILTON WORLDWIDE HOLDINGS INC 43300A203 197084.00000000 NS USD 21963040.96000000 0.900991372463 Long EC CORP US N 1 N N N US FOODS HOLDING CORP 549300UGOZSO64CFPR97 US FOODS HOLDING CORP 912008109 47692.00000000 NS USD 1463190.56000000 0.060024569149 Long EC CORP US N 1 N N N YANKA INDUSTRIES INC N/A YANKA (MASTERCLASS) INDUSTRIES INC SER E 0% PC PP N/A 165574.00000000 NS USD 3155840.44000000 0.129462264104 Long EP CORP US Y 3 N N N RANGE RESOURCES CORP H3Y3WLYCX0BTO1TRW162 RANGE RESOURCES CORP 75281A109 206423.00000000 NS USD 5108969.25000000 0.209585604507 Long EC CORP US N 1 N N N AMERICAN FINL GROUP INC OHIO 549300AFOM7IVKIU1G39 AMERICAN FINL GROUP INC OHIO 025932104 49923.00000000 NS USD 6929811.63000000 0.284282149397 Long EC CORP US N 1 N N N VISTRA CORP 549300KP43CPCUJOOG15 VISTRA CORP 92840M102 258100.00000000 NS USD 5897585.00000000 0.241937043829 Long EC CORP US N 1 N N N AMERICAN EXPRESS CO R4PP93JZOLY261QX3811 AMERICAN EXPRESS CO 025816109 63444.00000000 NS USD 8794607.28000000 0.360781792371 Long EC CORP US N 1 N N N PROLOGIS INC 529900DFH19P073LZ636 PROLOGIS INC REIT 74340W103 39300.00000000 NS USD 4623645.00000000 0.189676113700 Long EC CORP US N 1 N N N NUVALENT INC N/A NUVALENT INC-A 670703107 11100.00000000 NS USD 150516.00000000 0.006174628443 Long EC CORP US N 1 N N N UBER TECHNOLOGIES INC 549300B2FTG34FILDR98 UBER TECHNOLOGIES INC 90353T100 302372.00000000 NS USD 6186531.12000000 0.253790500812 Long EC CORP US N 1 N N N CHENIERE ENERGY INC MIHC87W9WTYSYZWV1J40 CHENIERE ENERGY INC 16411R208 18400.00000000 NS USD 2447752.00000000 0.100414302279 Long EC CORP US N 1 N N N NEWMONT CORP 549300VSP3RIX7FGDZ51 NEWMONT CORP 651639106 556000.00000000 NS USD 33176520.00000000 1.361002710999 Long EC CORP US N 1 N N N LAMAR ADVERTISING CO 529900Y8WW4MKVPTB543 LAMAR ADVERTISING CO CL A 512816109 32798.00000000 NS USD 2885240.06000000 0.118361405703 Long EC CORP US N 1 N N N 2022-07-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_6_20220630.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Diversified Stock Fund
June 30, 2022
ADESI-NPRT3-0822
1.804792.118
Common Stocks - 94.1%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 8.1%
 
 
 
Diversified Telecommunication Services - 0.6%
 
 
 
Verizon Communications, Inc.
 
278,800
14,149,100
Entertainment - 0.4%
 
 
 
Electronic Arts, Inc.
 
10,367
1,261,146
Endeavor Group Holdings, Inc. (a)
 
109,135
2,243,816
Netflix, Inc. (a)
 
38,900
6,802,443
 
 
 
10,307,405
Interactive Media & Services - 6.5%
 
 
 
Alphabet, Inc. Class C (a)
 
62,623
136,984,681
Meta Platforms, Inc. Class A (a)
 
117,831
19,000,249
Snap, Inc. Class A (a)
 
43,900
576,407
Twitter, Inc. (a)
 
54,500
2,037,755
 
 
 
158,599,092
Media - 0.6%
 
 
 
Charter Communications, Inc. Class A (a)
 
31,500
14,758,695
Liberty Media Corp. Liberty Formula One Group Series C (a)
 
11,400
723,558
 
 
 
15,482,253
TOTAL COMMUNICATION SERVICES
 
 
198,537,850
CONSUMER DISCRETIONARY - 7.7%
 
 
 
Hotels, Restaurants & Leisure - 3.0%
 
 
 
Airbnb, Inc. Class A (a)
 
98,702
8,792,374
Booking Holdings, Inc. (a)
 
2,047
3,580,183
Chipotle Mexican Grill, Inc. (a)
 
600
784,356
Compass Group PLC
 
614,805
12,622,802
Hilton Worldwide Holdings, Inc.
 
197,084
21,963,041
Marriott International, Inc. Class A
 
173,221
23,559,788
Penn National Gaming, Inc. (a)
 
80,274
2,441,935
 
 
 
73,744,479
Household Durables - 0.1%
 
 
 
NVR, Inc. (a)
 
550
2,202,277
Internet & Direct Marketing Retail - 2.5%
 
 
 
Amazon.com, Inc. (a)
 
455,800
48,410,518
JD.com, Inc. sponsored ADR
 
76,200
4,893,564
Revolve Group, Inc. (a)
 
25,900
671,069
Uber Technologies, Inc. (a)
 
302,372
6,186,531
 
 
 
60,161,682
Multiline Retail - 1.0%
 
 
 
Dollar General Corp.
 
94,600
23,218,624
Target Corp.
 
10,000
1,412,300
 
 
 
24,630,924
Specialty Retail - 0.7%
 
 
 
Aritzia, Inc. (a)
 
24,000
649,782
Industria de Diseno Textil SA (b)
 
103,800
2,358,904
Lowe's Companies, Inc.
 
56,182
9,813,310
TJX Companies, Inc.
 
83,340
4,654,539
 
 
 
17,476,535
Textiles, Apparel & Luxury Goods - 0.4%
 
 
 
LVMH Moet Hennessy Louis Vuitton SE
 
5,967
3,657,043
Moncler SpA
 
13,867
594,792
NIKE, Inc. Class B
 
31,281
3,196,918
On Holding AG
 
6,700
118,523
Tory Burch LLC (a)(c)(d)(e)
 
28,846
1,301,230
 
 
 
8,868,506
TOTAL CONSUMER DISCRETIONARY
 
 
187,084,403
CONSUMER STAPLES - 6.0%
 
 
 
Beverages - 4.3%
 
 
 
Constellation Brands, Inc. Class A (sub. vtg.)
 
15,400
3,589,124
Diageo PLC
 
524,365
22,648,749
Monster Beverage Corp. (a)
 
235,740
21,853,098
The Coca-Cola Co.
 
904,496
56,901,843
 
 
 
104,992,814
Food & Staples Retailing - 0.1%
 
 
 
U.S. Foods Holding Corp. (a)
 
47,692
1,463,191
Food Products - 0.1%
 
 
 
Mondelez International, Inc.
 
19,149
1,188,961
Household Products - 0.4%
 
 
 
Kimberly-Clark Corp.
 
70,600
9,541,590
The Clorox Co.
 
4,400
620,312
 
 
 
10,161,902
Tobacco - 1.1%
 
 
 
Philip Morris International, Inc.
 
274,700
27,123,878
Swedish Match Co. AB
 
71,500
729,482
 
 
 
27,853,360
TOTAL CONSUMER STAPLES
 
 
145,660,228
ENERGY - 12.0%
 
 
 
Energy Equipment & Services - 2.9%
 
 
 
Baker Hughes Co. Class A
 
830,800
23,985,196
Halliburton Co.
 
720,000
22,579,200
NOV, Inc.
 
288,800
4,883,608
Schlumberger Ltd.
 
546,300
19,535,688
TechnipFMC PLC (a)
 
211,200
1,421,376
 
 
 
72,405,068
Oil, Gas & Consumable Fuels - 9.1%
 
 
 
Antero Resources Corp. (a)
 
230,200
7,055,630
Canadian Natural Resources Ltd.
 
511,600
27,491,743
Cheniere Energy, Inc.
 
18,400
2,447,752
Chevron Corp.
 
46,300
6,703,314
Denbury, Inc. (a)
 
22,100
1,325,779
Devon Energy Corp.
 
85,833
4,730,257
EOG Resources, Inc.
 
245,519
27,115,118
EQT Corp.
 
251,900
8,665,360
Exxon Mobil Corp.
 
686,234
58,769,080
Hess Corp.
 
343,395
36,379,266
Neste OYJ
 
28,000
1,239,431
Peabody Energy Corp. (a)(b)
 
23,000
490,590
Phillips 66 Co.
 
18,700
1,533,213
Pioneer Natural Resources Co.
 
92,003
20,524,029
Range Resources Corp. (a)
 
206,423
5,108,969
Valero Energy Corp.
 
108,200
11,499,496
 
 
 
221,079,027
TOTAL ENERGY
 
 
293,484,095
FINANCIALS - 7.0%
 
 
 
Banks - 2.1%
 
 
 
Bank of America Corp.
 
833,126
25,935,212
Huntington Bancshares, Inc.
 
86,000
1,034,580
M&T Bank Corp.
 
2,500
398,475
Starling Bank Ltd. Series D (a)(d)(e)
 
879,300
2,523,937
Truist Financial Corp.
 
14,056
666,676
Wells Fargo & Co.
 
551,668
21,608,836
 
 
 
52,167,716
Capital Markets - 1.4%
 
 
 
Charles Schwab Corp.
 
91,352
5,771,619
Intercontinental Exchange, Inc.
 
209,400
19,691,976
Morningstar, Inc.
 
11,261
2,723,248
Raymond James Financial, Inc.
 
61,100
5,462,951
 
 
 
33,649,794
Consumer Finance - 0.4%
 
 
 
American Express Co.
 
63,444
8,794,607
Diversified Financial Services - 0.4%
 
 
 
Berkshire Hathaway, Inc. Class B (a)
 
39,845
10,878,482
Insurance - 2.7%
 
 
 
American Financial Group, Inc.
 
49,923
6,929,812
Arthur J. Gallagher & Co.
 
107,154
17,470,388
Chubb Ltd.
 
20,100
3,951,258
Hartford Financial Services Group, Inc.
 
59,400
3,886,542
Marsh & McLennan Companies, Inc.
 
6,400
993,600
Progressive Corp.
 
7,800
906,906
The Travelers Companies, Inc.
 
182,842
30,924,067
 
 
 
65,062,573
TOTAL FINANCIALS
 
 
170,553,172
HEALTH CARE - 18.7%
 
 
 
Biotechnology - 3.4%
 
 
 
Argenx SE ADR (a)
 
18,400
6,971,392
Intellia Therapeutics, Inc. (a)
 
25,900
1,340,584
Legend Biotech Corp. ADR (a)
 
82,920
4,560,600
Nuvalent, Inc. Class A (a)
 
11,100
150,516
Regeneron Pharmaceuticals, Inc. (a)
 
45,055
26,633,362
Seagen, Inc. (a)
 
4,100
725,454
Vertex Pharmaceuticals, Inc. (a)
 
148,700
41,902,173
 
 
 
82,284,081
Health Care Equipment & Supplies - 0.5%
 
 
 
Boston Scientific Corp. (a)
 
139,737
5,207,998
Stryker Corp.
 
28,149
5,599,681
 
 
 
10,807,679
Health Care Providers & Services - 7.8%
 
 
 
agilon health, Inc. (a)
 
75,000
1,637,250
Cardinal Health, Inc.
 
83,800
4,380,226
Centene Corp. (a)
 
381,500
32,278,715
Cigna Corp.
 
61,900
16,311,888
Guardant Health, Inc. (a)
 
17,700
714,018
Humana, Inc.
 
27,275
12,766,609
Oak Street Health, Inc. (a)
 
95,700
1,573,308
UnitedHealth Group, Inc.
 
232,408
119,371,721
 
 
 
189,033,735
Health Care Technology - 0.0%
 
 
 
Inspire Medical Systems, Inc. (a)
 
4,000
730,680
Life Sciences Tools & Services - 1.4%
 
 
 
Agilent Technologies, Inc.
 
22,200
2,636,694
Danaher Corp.
 
40,850
10,356,292
Thermo Fisher Scientific, Inc.
 
40,433
21,966,440
 
 
 
34,959,426
Pharmaceuticals - 5.6%
 
 
 
AstraZeneca PLC sponsored ADR
 
318,800
21,063,116
Bristol-Myers Squibb Co.
 
84,200
6,483,400
Eli Lilly & Co.
 
171,538
55,617,766
Merck & Co., Inc.
 
250,000
22,792,500
Pfizer, Inc.
 
224,800
11,786,264
Zoetis, Inc. Class A
 
112,850
19,397,787
 
 
 
137,140,833
TOTAL HEALTH CARE
 
 
454,956,434
INDUSTRIALS - 7.1%
 
 
 
Aerospace & Defense - 3.4%
 
 
 
Airbus Group NV
 
42,000
4,108,016
Howmet Aerospace, Inc.
 
92,500
2,909,125
Lockheed Martin Corp.
 
83,900
36,073,644
Northrop Grumman Corp.
 
71,290
34,117,255
The Boeing Co. (a)
 
47,203
6,453,594
 
 
 
83,661,634
Air Freight & Logistics - 0.4%
 
 
 
FedEx Corp.
 
25,200
5,713,092
United Parcel Service, Inc. Class B
 
15,661
2,858,759
 
 
 
8,571,851
Airlines - 0.1%
 
 
 
Delta Air Lines, Inc. (a)
 
66,100
1,914,917
Building Products - 0.4%
 
 
 
Trane Technologies PLC
 
69,049
8,967,394
Construction & Engineering - 0.9%
 
 
 
Fluor Corp. (a)
 
259,500
6,316,230
Quanta Services, Inc. (b)
 
118,922
14,905,683
 
 
 
21,221,913
Electrical Equipment - 0.1%
 
 
 
Acuity Brands, Inc.
 
21,600
3,327,264
Fluence Energy, Inc. (b)
 
23,800
225,624
 
 
 
3,552,888
Machinery - 1.5%
 
 
 
Caterpillar, Inc.
 
109,500
19,574,220
Deere & Co.
 
48,900
14,644,083
Otis Worldwide Corp.
 
46,104
3,258,170
 
 
 
37,476,473
Road & Rail - 0.3%
 
 
 
Canadian Pacific Railway Ltd. (b)
 
93,900
6,557,976
TOTAL INDUSTRIALS
 
 
171,925,046
INFORMATION TECHNOLOGY - 19.9%
 
 
 
IT Services - 5.1%
 
 
 
Accenture PLC Class A
 
122,223
33,935,216
MasterCard, Inc. Class A
 
186,759
58,918,729
Twilio, Inc. Class A (a)
 
53,200
4,458,692
Visa, Inc. Class A
 
134,300
26,442,327
 
 
 
123,754,964
Semiconductors & Semiconductor Equipment - 2.9%
 
 
 
Advanced Micro Devices, Inc. (a)
 
51,751
3,957,399
GlobalFoundries, Inc.
 
115,400
4,655,236
Lam Research Corp.
 
16,701
7,117,131
Marvell Technology, Inc.
 
1,010,548
43,989,154
NVIDIA Corp.
 
30,711
4,655,480
onsemi (a)
 
98,300
4,945,473
Teradyne, Inc.
 
25,200
2,256,660
 
 
 
71,576,533
Software - 7.2%
 
 
 
Adobe, Inc. (a)
 
18,019
6,596,035
Confluent, Inc. (b)
 
23,700
550,788
Dynatrace, Inc. (a)
 
49,236
1,941,868
Intuit, Inc.
 
31,754
12,239,262
Microsoft Corp.
 
567,613
145,780,050
Salesforce.com, Inc. (a)
 
32,695
5,395,983
Tenable Holdings, Inc. (a)
 
41,209
1,871,301
Zoom Video Communications, Inc. Class A (a)
 
2,400
259,128
 
 
 
174,634,415
Technology Hardware, Storage & Peripherals - 4.7%
 
 
 
Apple, Inc.
 
838,355
114,619,896
TOTAL INFORMATION TECHNOLOGY
 
 
484,585,808
MATERIALS - 3.8%
 
 
 
Chemicals - 1.1%
 
 
 
Albemarle Corp.
 
9,000
1,880,820
CF Industries Holdings, Inc.
 
80,221
6,877,346
Corteva, Inc.
 
16,400
887,896
DuPont de Nemours, Inc.
 
15,583
866,103
Nutrien Ltd.
 
64,800
5,163,912
Sherwin-Williams Co.
 
25,066
5,612,528
The Mosaic Co.
 
120,300
5,681,769
 
 
 
26,970,374
Metals & Mining - 2.7%
 
 
 
Alcoa Corp.
 
51,700
2,356,486
Barrick Gold Corp.
 
387,200
6,849,568
First Quantum Minerals Ltd.
 
195,200
3,703,219
Franco-Nevada Corp.
 
4,111
540,766
Freeport-McMoRan, Inc.
 
415,153
12,147,377
Glencore Xstrata PLC
 
803,300
4,351,023
Newmont Corp.
 
556,000
33,176,520
Nucor Corp.
 
35,600
3,716,996
 
 
 
66,841,955
TOTAL MATERIALS
 
 
93,812,329
REAL ESTATE - 0.8%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.7%
 
 
 
American Tower Corp.
 
18,900
4,830,651
Lamar Advertising Co. Class A
 
32,798
2,885,240
Prologis (REIT), Inc.
 
39,300
4,623,645
SL Green Realty Corp.
 
71,437
3,296,818
 
 
 
15,636,354
Real Estate Management & Development - 0.1%
 
 
 
Jones Lang LaSalle, Inc. (a)
 
6,844
1,196,742
WeWork, Inc. (a)
 
355,600
1,785,112
 
 
 
2,981,854
TOTAL REAL ESTATE
 
 
18,618,208
UTILITIES - 3.0%
 
 
 
Electric Utilities - 2.7%
 
 
 
Entergy Corp.
 
106,400
11,984,896
Exelon Corp.
 
5,400
244,728
NextEra Energy, Inc.
 
276,800
21,440,928
PG&E Corp. (a)
 
40,000
399,200
Southern Co.
 
446,600
31,847,046
 
 
 
65,916,798
Independent Power and Renewable Electricity Producers - 0.3%
 
 
 
NextEra Energy Partners LP
 
14,600
1,082,736
Vistra Corp.
 
258,100
5,897,585
 
 
 
6,980,321
TOTAL UTILITIES
 
 
72,897,119
 
TOTAL COMMON STOCKS
 (Cost $1,821,654,602)
 
 
 
2,292,114,692
 
 
 
 
Convertible Preferred Stocks - 0.4%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Reddit, Inc. Series E (a)(d)(e)
 
3,500
137,550
INFORMATION TECHNOLOGY - 0.4%
 
 
 
IT Services - 0.4%
 
 
 
ByteDance Ltd. Series E1 (a)(d)(e)
 
17,226
2,625,931
Yanka Industries, Inc.:
 
 
 
 Series E (a)(d)(e)
 
165,574
3,155,840
 Series F (a)(d)(e)
 
265,105
5,052,901
 
 
 
10,834,672
Software - 0.0%
 
 
 
Evozyne LLC Series A (a)(d)(e)
 
20,000
258,800
TOTAL INFORMATION TECHNOLOGY
 
 
11,093,472
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $12,936,285)
 
 
 
11,231,022
 
 
 
 
Money Market Funds - 5.8%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 1.58% (f)
 
116,205,805
116,229,046
Fidelity Securities Lending Cash Central Fund 1.58% (f)(g)
 
24,520,988
24,523,440
 
TOTAL MONEY MARKET FUNDS
 (Cost $140,752,486)
 
 
140,752,486
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.3%
 (Cost $1,975,343,373)
 
 
 
2,444,098,200
NET OTHER ASSETS (LIABILITIES) - (0.3)%  
(7,271,219)
NET ASSETS - 100.0%
2,436,826,981
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(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 $15,056,189 or 0.6% 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
1,887,525
Evozyne LLC Series A
4/09/21
449,400
Reddit, Inc. Series E
5/18/21
148,660
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
1,694,172
Tory Burch LLC
5/14/15
2,152,730
Yanka Industries, Inc. Series E
5/15/20
2,000,001
Yanka Industries, Inc. Series F
4/08/21
8,450,699
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
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 1.58%
42,645,779
379,605,184
306,021,917
232,063
-
-
116,229,046
0.2%
Fidelity Securities Lending Cash Central Fund 1.58%
22,610,039
318,441,055
316,527,654
31,929
-
-
24,523,440
0.1%
Total
65,255,818
698,046,239
622,549,571
263,992
-
-
140,752,486
 
 
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
 
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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