NPORT-EX 2 QTLY_157_20210331.htm

Quarterly Holdings Report
for

Fidelity® Variable Insurance Products:

Index 500 Portfolio

March 31, 2021







VIPIDX-QTLY-0521
1.799879.117





Schedule of Investments March 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%   
 Shares Value 
COMMUNICATION SERVICES - 10.8%   
Diversified Telecommunication Services - 1.4%   
AT&T, Inc. 2,243,428 $67,908,566 
Lumen Technologies, Inc. 310,211 4,141,317 
Verizon Communications, Inc. 1,301,678 75,692,576 
  147,742,459 
Entertainment - 2.1%   
Activision Blizzard, Inc. 243,664 22,660,752 
Electronic Arts, Inc. 90,473 12,247,330 
Live Nation Entertainment, Inc. (a) 45,170 3,823,641 
Netflix, Inc. (a) 139,319 72,677,150 
Take-Two Interactive Software, Inc. (a) 36,297 6,413,680 
The Walt Disney Co. (a) 571,029 105,366,271 
  223,188,824 
Interactive Media & Services - 5.8%   
Alphabet, Inc.:   
Class A (a) 94,596 195,106,142 
Class C (a) 90,677 187,577,163 
Facebook, Inc. Class A (a) 756,666 222,860,837 
Twitter, Inc. (a) 251,164 15,981,565 
  621,525,707 
Media - 1.3%   
Charter Communications, Inc. Class A (a) 44,490 27,451,220 
Comcast Corp. Class A 1,438,013 77,810,883 
Discovery Communications, Inc.:   
Class A (a)(b) 48,233 2,096,206 
Class C (non-vtg.) (a)(b) 94,598 3,489,720 
DISH Network Corp. Class A (a) 77,521 2,806,260 
Fox Corp.:   
Class A 106,100 3,831,271 
Class B 47,399 1,655,647 
Interpublic Group of Companies, Inc. 122,948 3,590,082 
News Corp.:   
Class A 120,937 3,075,428 
Class B (b) 40,098 940,699 
Omnicom Group, Inc. 67,666 5,017,434 
ViacomCBS, Inc. Class B 184,819 8,335,337 
  140,100,187 
Wireless Telecommunication Services - 0.2%   
T-Mobile U.S., Inc. 183,824 23,031,309 
TOTAL COMMUNICATION SERVICES  1,155,588,486 
CONSUMER DISCRETIONARY - 12.3%   
Auto Components - 0.2%   
Aptiv PLC (a) 84,941 11,713,364 
BorgWarner, Inc. 75,199 3,486,226 
  15,199,590 
Automobiles - 1.9%   
Ford Motor Co. 1,229,351 15,059,550 
General Motors Co. 398,890 22,920,219 
Tesla, Inc. (a) 241,549 161,337,824 
  199,317,593 
Distributors - 0.1%   
Genuine Parts Co. 45,401 5,247,902 
LKQ Corp. (a) 88,009 3,725,421 
Pool Corp. 12,689 4,380,750 
  13,354,073 
Hotels, Restaurants & Leisure - 1.8%   
Caesars Entertainment, Inc. (a) 65,515 5,729,287 
Carnival Corp. 250,583 6,650,473 
Chipotle Mexican Grill, Inc. (a) 8,852 12,577,099 
Darden Restaurants, Inc. 40,937 5,813,054 
Domino's Pizza, Inc. 12,202 4,487,774 
Hilton Worldwide Holdings, Inc. 87,322 10,558,976 
Las Vegas Sands Corp. 103,390 6,281,976 
Marriott International, Inc. Class A 83,684 12,394,437 
McDonald's Corp. 234,522 52,565,761 
MGM Resorts International 129,393 4,915,640 
Norwegian Cruise Line Holdings Ltd. (a)(b) 114,508 3,159,276 
Penn National Gaming, Inc. (a) 46,763 4,902,633 
Royal Caribbean Cruises Ltd. 69,000 5,907,090 
Starbucks Corp. 370,328 40,465,741 
Wynn Resorts Ltd. 33,097 4,149,371 
Yum! Brands, Inc. 94,374 10,209,379 
  190,767,967 
Household Durables - 0.4%   
D.R. Horton, Inc. 104,124 9,279,531 
Garmin Ltd. 47,044 6,202,751 
Leggett & Platt, Inc. 41,798 1,908,079 
Lennar Corp. Class A 86,351 8,741,312 
Mohawk Industries, Inc. (a) 18,558 3,568,889 
Newell Brands, Inc. 118,673 3,178,063 
NVR, Inc. (a) 1,088 5,125,492 
PulteGroup, Inc. 83,514 4,379,474 
Whirlpool Corp. 19,797 4,362,269 
  46,745,860 
Internet & Direct Marketing Retail - 4.4%   
Amazon.com, Inc. (a) 134,643 416,596,213 
eBay, Inc. 203,345 12,452,848 
Etsy, Inc. (a) 39,649 7,996,014 
Expedia, Inc. 43,517 7,490,146 
The Booking Holdings, Inc. (a) 12,885 30,019,988 
  474,555,209 
Leisure Products - 0.0%   
Hasbro, Inc. 40,252 3,869,022 
Multiline Retail - 0.5%   
Dollar General Corp. 77,079 15,617,747 
Dollar Tree, Inc. (a) 73,957 8,465,118 
Target Corp. 157,566 31,209,098 
  55,291,963 
Specialty Retail - 2.3%   
Advance Auto Parts, Inc. 20,615 3,782,646 
AutoZone, Inc. (a) 6,979 9,800,610 
Best Buy Co., Inc. 72,494 8,323,036 
CarMax, Inc. (a) 51,137 6,783,834 
Gap, Inc. 64,321 1,915,479 
L Brands, Inc. 73,485 4,545,782 
Lowe's Companies, Inc. 229,952 43,732,271 
O'Reilly Automotive, Inc. (a) 22,087 11,203,631 
Ross Stores, Inc. 111,999 13,429,800 
The Home Depot, Inc. 338,663 103,376,881 
TJX Companies, Inc. 377,695 24,984,524 
Tractor Supply Co. 36,561 6,474,222 
Ulta Beauty, Inc. (a) 17,705 5,473,855 
  243,826,571 
Textiles, Apparel & Luxury Goods - 0.7%   
Hanesbrands, Inc. 109,115 2,146,292 
NIKE, Inc. Class B 400,016 53,158,126 
PVH Corp. 22,259 2,352,776 
Ralph Lauren Corp. 15,082 1,857,499 
Tapestry, Inc. 87,471 3,604,680 
Under Armour, Inc.:   
Class A (sub. vtg.) (a) 58,699 1,300,770 
Class C (non-vtg.) (a) 61,532 1,135,881 
VF Corp. 101,164 8,085,027 
  73,641,051 
TOTAL CONSUMER DISCRETIONARY  1,316,568,899 
CONSUMER STAPLES - 6.1%   
Beverages - 1.5%   
Brown-Forman Corp. Class B (non-vtg.) 57,417 3,960,050 
Constellation Brands, Inc. Class A (sub. vtg.) 53,532 12,205,296 
Molson Coors Beverage Co. Class B 59,454 3,041,072 
Monster Beverage Corp. (a) 116,252 10,589,395 
PepsiCo, Inc. 433,960 61,383,642 
The Coca-Cola Co. 1,219,965 64,304,355 
  155,483,810 
Food & Staples Retailing - 1.3%   
Costco Wholesale Corp. 139,238 49,078,610 
Kroger Co. 239,503 8,619,713 
Sysco Corp. 160,603 12,645,880 
Walgreens Boots Alliance, Inc. 225,617 12,386,373 
Walmart, Inc. 436,097 59,235,056 
  141,965,632 
Food Products - 1.0%   
Archer Daniels Midland Co. 175,488 10,002,816 
Campbell Soup Co. (b) 63,881 3,211,298 
Conagra Brands, Inc. 153,356 5,766,186 
General Mills, Inc. 192,397 11,797,784 
Hormel Foods Corp. 88,582 4,232,448 
Kellogg Co. 80,130 5,072,229 
Lamb Weston Holdings, Inc. 45,887 3,555,325 
McCormick & Co., Inc. (non-vtg.) 78,166 6,969,281 
Mondelez International, Inc. 444,348 26,007,688 
The Hershey Co. 46,118 7,294,023 
The J.M. Smucker Co. (b) 34,496 4,364,779 
The Kraft Heinz Co. (b) 203,763 8,150,520 
Tyson Foods, Inc. Class A 92,703 6,887,833 
  103,312,210 
Household Products - 1.4%   
Church & Dwight Co., Inc. 77,102 6,734,860 
Clorox Co. 39,567 7,631,683 
Colgate-Palmolive Co. 266,910 21,040,515 
Kimberly-Clark Corp. 106,323 14,784,213 
Procter & Gamble Co. 774,591 104,902,859 
  155,094,130 
Personal Products - 0.2%   
Estee Lauder Companies, Inc. Class A 72,268 21,019,148 
Tobacco - 0.7%   
Altria Group, Inc. 584,739 29,915,247 
Philip Morris International, Inc. 489,898 43,473,549 
  73,388,796 
TOTAL CONSUMER STAPLES  650,263,726 
ENERGY - 2.8%   
Energy Equipment & Services - 0.2%   
Baker Hughes Co. Class A 229,492 4,959,322 
Halliburton Co. 279,090 5,989,271 
NOV, Inc. 121,448 1,666,267 
Schlumberger Ltd. 440,167 11,968,141 
  24,583,001 
Oil, Gas & Consumable Fuels - 2.6%   
APA Corp. 119,218 2,134,002 
Cabot Oil & Gas Corp. 125,841 2,363,294 
Chevron Corp. 605,996 63,502,321 
ConocoPhillips Co. 426,203 22,575,973 
Devon Energy Corp. 185,963 4,063,292 
Diamondback Energy, Inc. 56,884 4,180,405 
EOG Resources, Inc. 183,479 13,307,732 
Exxon Mobil Corp. 1,331,770 74,352,719 
Hess Corp. 85,846 6,074,463 
HollyFrontier Corp. (b) 47,143 1,686,777 
Kinder Morgan, Inc. 612,202 10,193,163 
Marathon Oil Corp. 247,374 2,641,954 
Marathon Petroleum Corp. 205,010 10,965,985 
Occidental Petroleum Corp. 263,815 7,022,755 
ONEOK, Inc. 140,182 7,101,620 
Phillips 66 Co. 137,334 11,198,214 
Pioneer Natural Resources Co. 64,728 10,280,101 
The Williams Companies, Inc. 381,446 9,036,456 
Valero Energy Corp. 128,649 9,211,268 
  271,892,494 
TOTAL ENERGY  296,475,495 
FINANCIALS - 11.2%   
Banks - 4.4%   
Bank of America Corp. 2,389,942 92,466,856 
Citigroup, Inc. 656,672 47,772,888 
Citizens Financial Group, Inc. 133,652 5,900,736 
Comerica, Inc. 43,804 3,142,499 
Fifth Third Bancorp 223,405 8,366,517 
First Republic Bank 55,367 9,232,447 
Huntington Bancshares, Inc. (b) 320,234 5,034,078 
JPMorgan Chase & Co. 959,914 146,127,708 
KeyCorp 304,696 6,087,826 
M&T Bank Corp. 40,419 6,127,925 
Peoples United Financial, Inc. 133,960 2,397,884 
PNC Financial Services Group, Inc. 133,402 23,400,045 
Regions Financial Corp. 301,818 6,235,560 
SVB Financial Group (a) 16,979 8,381,853 
Truist Financial Corp. 423,846 24,718,699 
U.S. Bancorp 430,068 23,787,061 
Wells Fargo & Co. 1,300,503 50,810,652 
Zions Bancorp NA 51,700 2,841,432 
  472,832,666 
Capital Markets - 2.9%   
Ameriprise Financial, Inc. 36,729 8,537,656 
Bank of New York Mellon Corp. 253,850 12,004,567 
BlackRock, Inc. Class A 44,653 33,666,576 
Cboe Global Markets, Inc. 33,719 3,327,728 
Charles Schwab Corp. 470,767 30,684,593 
CME Group, Inc. 112,931 23,063,898 
Franklin Resources, Inc. 86,128 2,549,389 
Goldman Sachs Group, Inc. 108,236 35,393,172 
Intercontinental Exchange, Inc. 176,677 19,731,287 
Invesco Ltd. 118,053 2,977,297 
MarketAxess Holdings, Inc. 11,974 5,962,094 
Moody's Corp. 50,612 15,113,249 
Morgan Stanley 472,068 36,660,801 
MSCI, Inc. 25,975 10,890,798 
NASDAQ, Inc. 36,285 5,350,586 
Northern Trust Corp. 65,442 6,878,609 
Raymond James Financial, Inc. 38,479 4,715,986 
S&P Global, Inc. 75,712 26,716,493 
State Street Corp. 110,685 9,298,647 
T. Rowe Price Group, Inc. 71,703 12,304,235 
  305,827,661 
Consumer Finance - 0.6%   
American Express Co. 205,257 29,031,550 
Capital One Financial Corp. 144,461 18,379,773 
Discover Financial Services 96,457 9,162,450 
Synchrony Financial 170,969 6,951,600 
  63,525,373 
Diversified Financial Services - 1.4%   
Berkshire Hathaway, Inc. Class B (a) 599,776 153,224,775 
Insurance - 1.9%   
AFLAC, Inc. 201,458 10,310,620 
Allstate Corp. 95,273 10,946,868 
American International Group, Inc. 272,130 12,575,127 
Aon PLC 71,080 16,356,219 
Arthur J. Gallagher & Co. 60,914 7,600,240 
Assurant, Inc. 18,211 2,581,773 
Chubb Ltd. 141,631 22,373,449 
Cincinnati Financial Corp. 47,228 4,868,735 
Everest Re Group Ltd. 12,586 3,118,937 
Globe Life, Inc. 29,894 2,888,657 
Hartford Financial Services Group, Inc. 112,480 7,512,539 
Lincoln National Corp. 56,797 3,536,749 
Loews Corp. 71,430 3,662,930 
Marsh & McLennan Companies, Inc. 159,861 19,471,070 
MetLife, Inc. 236,510 14,377,443 
Principal Financial Group, Inc. 79,758 4,782,290 
Progressive Corp. 184,244 17,615,569 
Prudential Financial, Inc. 124,875 11,376,113 
The Travelers Companies, Inc. 79,338 11,932,435 
Unum Group 63,763 1,774,524 
W.R. Berkley Corp. 44,070 3,320,675 
Willis Towers Watson PLC 40,552 9,281,542 
  202,264,504 
TOTAL FINANCIALS  1,197,674,979 
HEALTH CARE - 12.8%   
Biotechnology - 1.8%   
AbbVie, Inc. 555,486 60,114,695 
Alexion Pharmaceuticals, Inc. (a) 69,156 10,574,644 
Amgen, Inc. 181,683 45,204,547 
Biogen, Inc. (a) 47,922 13,406,180 
Gilead Sciences, Inc. 395,455 25,558,257 
Incyte Corp. (a) 58,701 4,770,630 
Regeneron Pharmaceuticals, Inc. (a) 33,119 15,669,924 
Vertex Pharmaceuticals, Inc. (a) 81,776 17,572,845 
  192,871,722 
Health Care Equipment & Supplies - 3.6%   
Abbott Laboratories 557,232 66,778,683 
Abiomed, Inc. (a) 14,258 4,544,452 
Align Technology, Inc. (a) 22,665 12,273,777 
Baxter International, Inc. 158,848 13,397,240 
Becton, Dickinson & Co. 91,409 22,226,098 
Boston Scientific Corp. (a) 445,753 17,228,353 
Danaher Corp. 199,374 44,875,100 
Dentsply Sirona, Inc. 68,992 4,402,380 
DexCom, Inc. (a) 30,277 10,881,251 
Edwards Lifesciences Corp. (a) 196,449 16,430,994 
Hologic, Inc. (a) 81,055 6,028,871 
IDEXX Laboratories, Inc. (a) 26,886 13,155,589 
Intuitive Surgical, Inc. (a) 37,016 27,352,603 
Medtronic PLC 423,970 50,083,576 
ResMed, Inc. 45,811 8,888,250 
STERIS PLC 26,790 5,102,959 
Stryker Corp. 102,929 25,071,446 
Teleflex, Inc. 14,688 6,102,276 
The Cooper Companies, Inc. 15,444 5,931,886 
Varian Medical Systems, Inc. (a) 28,948 5,110,190 
West Pharmaceutical Services, Inc. 23,352 6,580,127 
Zimmer Biomet Holdings, Inc. 65,345 10,460,428 
  382,906,529 
Health Care Providers & Services - 2.6%   
AmerisourceBergen Corp. 46,342 5,471,600 
Anthem, Inc. 77,039 27,653,149 
Cardinal Health, Inc. 92,578 5,624,114 
Centene Corp. (a) 182,780 11,681,470 
Cigna Corp. 110,681 26,756,025 
CVS Health Corp. 412,533 31,034,858 
DaVita HealthCare Partners, Inc. (a) 22,705 2,446,918 
HCA Holdings, Inc. 83,400 15,707,556 
Henry Schein, Inc. (a) 44,702 3,095,166 
Humana, Inc. 40,532 16,993,041 
Laboratory Corp. of America Holdings (a) 30,697 7,828,656 
McKesson Corp. 50,013 9,754,536 
Quest Diagnostics, Inc. 41,972 5,386,686 
UnitedHealth Group, Inc. 297,359 110,638,363 
Universal Health Services, Inc. Class B 24,553 3,275,125 
  283,347,263 
Health Care Technology - 0.1%   
Cerner Corp. 96,489 6,935,629 
Life Sciences Tools & Services - 1.1%   
Agilent Technologies, Inc. 95,822 12,182,809 
Bio-Rad Laboratories, Inc. Class A (a) 6,793 3,879,958 
Illumina, Inc. (a) 45,894 17,626,050 
IQVIA Holdings, Inc. (a) 60,161 11,619,496 
Mettler-Toledo International, Inc. (a) 7,362 8,508,190 
PerkinElmer, Inc. 35,259 4,523,377 
Thermo Fisher Scientific, Inc. 123,869 56,531,334 
Waters Corp. (a) 19,570 5,561,207 
  120,432,421 
Pharmaceuticals - 3.6%   
Bristol-Myers Squibb Co. 704,787 44,493,203 
Catalent, Inc. (a) 53,549 5,639,245 
Eli Lilly & Co. 250,229 46,747,782 
Johnson & Johnson 826,891 135,899,536 
Merck & Co., Inc. 795,941 61,359,092 
Perrigo Co. PLC 41,895 1,695,491 
Pfizer, Inc. 1,754,538 63,566,912 
Viatris, Inc. (a) 379,005 5,294,700 
Zoetis, Inc. Class A 149,469 23,538,378 
  388,234,339 
TOTAL HEALTH CARE  1,374,727,903 
INDUSTRIALS - 8.7%   
Aerospace & Defense - 1.6%   
General Dynamics Corp. 72,948 13,244,439 
Howmet Aerospace, Inc. (a) 122,841 3,946,881 
Huntington Ingalls Industries, Inc. 12,664 2,606,884 
L3Harris Technologies, Inc. 64,667 13,106,708 
Lockheed Martin Corp. 77,521 28,644,010 
Northrop Grumman Corp. 48,774 15,785,217 
Raytheon Technologies Corp. 478,008 36,935,678 
Teledyne Technologies, Inc. (a) 11,667 4,826,055 
Textron, Inc. 71,405 4,004,392 
The Boeing Co. 172,577 43,958,813 
TransDigm Group, Inc. (a) 17,204 10,114,576 
  177,173,653 
Air Freight & Logistics - 0.7%   
C.H. Robinson Worldwide, Inc. 42,110 4,018,557 
Expeditors International of Washington, Inc. 53,192 5,728,246 
FedEx Corp. 76,721 21,791,833 
United Parcel Service, Inc. Class B 226,354 38,477,916 
  70,016,552 
Airlines - 0.3%   
Alaska Air Group, Inc. 39,087 2,705,211 
American Airlines Group, Inc. (a) 201,301 4,811,094 
Delta Air Lines, Inc. 200,584 9,684,196 
Southwest Airlines Co. 185,620 11,333,957 
United Airlines Holdings, Inc. (a) 100,247 5,768,212 
  34,302,670 
Building Products - 0.5%   
A.O. Smith Corp. 42,459 2,870,653 
Allegion PLC 28,550 3,586,451 
Carrier Global Corp. 256,854 10,844,376 
Fortune Brands Home & Security, Inc. 43,634 4,181,010 
Johnson Controls International PLC 226,618 13,522,296 
Masco Corp. 80,912 4,846,629 
Trane Technologies PLC 75,014 12,419,318 
  52,270,733 
Commercial Services & Supplies - 0.4%   
Cintas Corp. 27,731 9,464,868 
Copart, Inc. (a) 65,454 7,108,959 
Republic Services, Inc. 66,276 6,584,521 
Rollins, Inc. 69,678 2,398,317 
Waste Management, Inc. 122,450 15,798,499 
  41,355,164 
Construction & Engineering - 0.0%   
Quanta Services, Inc. 43,532 3,829,945 
Electrical Equipment - 0.6%   
AMETEK, Inc. 72,511 9,261,830 
Eaton Corp. PLC 125,213 17,314,454 
Emerson Electric Co. 188,766 17,030,469 
Generac Holdings, Inc. (a) 19,772 6,474,341 
Rockwell Automation, Inc. 36,530 9,696,523 
  59,777,617 
Industrial Conglomerates - 1.2%   
3M Co. 182,162 35,098,974 
General Electric Co. 2,758,142 36,214,404 
Honeywell International, Inc. 218,781 47,490,792 
Roper Technologies, Inc. 33,004 13,311,833 
  132,116,003 
Machinery - 1.8%   
Caterpillar, Inc. 171,525 39,771,502 
Cummins, Inc. 46,547 12,060,793 
Deere & Co. 98,590 36,886,463 
Dover Corp. 45,272 6,208,149 
Fortive Corp. 106,330 7,511,151 
IDEX Corp. 23,901 5,002,957 
Illinois Tool Works, Inc. 90,623 20,074,807 
Ingersoll Rand, Inc. (a) 117,267 5,770,709 
Otis Worldwide Corp. 128,376 8,787,337 
PACCAR, Inc. 109,216 10,148,351 
Parker Hannifin Corp. 40,619 12,812,451 
Pentair PLC 52,168 3,251,110 
Snap-On, Inc. 17,105 3,946,808 
Stanley Black & Decker, Inc. 50,649 10,113,086 
Westinghouse Air Brake Co. 55,851 4,421,165 
Xylem, Inc. 56,634 5,956,764 
  192,723,603 
Professional Services - 0.4%   
Equifax, Inc. 38,367 6,949,415 
IHS Markit Ltd. 117,261 11,348,520 
Jacobs Engineering Group, Inc. 40,918 5,289,470 
Leidos Holdings, Inc. 41,957 4,039,620 
Nielsen Holdings PLC 112,814 2,837,272 
Robert Half International, Inc. 35,498 2,771,329 
Verisk Analytics, Inc. 51,138 9,035,573 
  42,271,199 
Road & Rail - 1.0%   
CSX Corp. 239,855 23,126,819 
J.B. Hunt Transport Services, Inc. 26,311 4,422,090 
Kansas City Southern 28,576 7,541,778 
Norfolk Southern Corp. 79,242 21,278,062 
Old Dominion Freight Lines, Inc. 30,164 7,251,727 
Union Pacific Corp. 210,705 46,441,489 
  110,061,965 
Trading Companies & Distributors - 0.2%   
Fastenal Co. 180,521 9,076,596 
United Rentals, Inc. (a) 22,686 7,470,727 
W.W. Grainger, Inc. 13,847 5,551,678 
  22,099,001 
TOTAL INDUSTRIALS  937,998,105 
INFORMATION TECHNOLOGY - 26.3%   
Communications Equipment - 0.8%   
Arista Networks, Inc. (a) 17,286 5,218,471 
Cisco Systems, Inc. 1,328,002 68,670,983 
F5 Networks, Inc. (a) 19,350 4,036,797 
Juniper Networks, Inc. 103,549 2,622,896 
Motorola Solutions, Inc. 53,166 9,997,866 
  90,547,013 
Electronic Equipment & Components - 0.7%   
Amphenol Corp. Class A 188,375 12,427,099 
CDW Corp. 44,355 7,351,841 
Corning, Inc. 241,719 10,517,194 
FLIR Systems, Inc. 41,442 2,340,230 
IPG Photonics Corp. (a) 11,280 2,379,403 
Keysight Technologies, Inc. (a) 58,452 8,382,017 
TE Connectivity Ltd. 104,091 13,439,189 
Trimble, Inc. (a) 78,968 6,142,921 
Zebra Technologies Corp. Class A (a) 16,832 8,166,550 
  71,146,444 
IT Services - 5.1%   
Accenture PLC Class A 199,505 55,113,256 
Akamai Technologies, Inc. (a) 51,341 5,231,648 
Automatic Data Processing, Inc. 134,608 25,369,570 
Broadridge Financial Solutions, Inc. 36,497 5,587,691 
Cognizant Technology Solutions Corp. Class A 166,902 13,038,384 
DXC Technology Co. 80,308 2,510,428 
Fidelity National Information Services, Inc. 195,382 27,472,663 
Fiserv, Inc. (a) 181,089 21,556,835 
FleetCor Technologies, Inc. (a) 26,214 7,041,867 
Gartner, Inc. (a) 27,904 5,093,875 
Global Payments, Inc. 92,871 18,720,936 
IBM Corp. 281,092 37,458,320 
Jack Henry & Associates, Inc. 23,898 3,625,805 
MasterCard, Inc. Class A 275,803 98,199,658 
Paychex, Inc. 100,957 9,895,805 
PayPal Holdings, Inc. (a) 368,410 89,464,684 
The Western Union Co. 129,533 3,194,284 
VeriSign, Inc. (a) 31,301 6,221,387 
Visa, Inc. Class A 533,530 112,964,307 
  547,761,403 
Semiconductors & Semiconductor Equipment - 5.5%   
Advanced Micro Devices, Inc. (a) 381,182 29,922,787 
Analog Devices, Inc. 116,040 17,995,483 
Applied Materials, Inc. 288,667 38,565,911 
Broadcom, Inc. 128,411 59,539,044 
Enphase Energy, Inc. (a) 40,584 6,581,101 
Intel Corp. 1,278,092 81,797,888 
KLA Corp. 48,467 16,013,497 
Lam Research Corp. 44,954 26,758,419 
Maxim Integrated Products, Inc. 84,355 7,707,516 
Microchip Technology, Inc. 84,703 13,147,600 
Micron Technology, Inc. (a) 351,896 31,040,746 
Monolithic Power Systems, Inc. 13,488 4,764,096 
NVIDIA Corp. 195,029 104,131,834 
NXP Semiconductors NV 87,137 17,544,164 
Qorvo, Inc. (a) 35,625 6,508,688 
Qualcomm, Inc. 357,342 47,379,976 
Skyworks Solutions, Inc. 51,871 9,517,291 
Teradyne, Inc. 52,462 6,383,576 
Texas Instruments, Inc. 289,471 54,707,124 
Xilinx, Inc. 77,294 9,576,727 
  589,583,468 
Software - 8.2%   
Adobe, Inc. (a) 150,778 71,675,338 
ANSYS, Inc. (a) 27,292 9,267,272 
Autodesk, Inc. (a) 69,170 19,170,466 
Cadence Design Systems, Inc. (a) 87,756 12,021,694 
Citrix Systems, Inc. 38,666 5,427,160 
Fortinet, Inc. (a) 42,607 7,857,583 
Intuit, Inc. 86,140 32,996,788 
Microsoft Corp. 2,372,517 559,368,333 
NortonLifeLock, Inc. 183,038 3,891,388 
Oracle Corp. 583,434 40,939,564 
Paycom Software, Inc. (a) 15,431 5,710,396 
Salesforce.com, Inc. (a) 288,687 61,164,115 
ServiceNow, Inc. (a) 61,685 30,849,285 
Synopsys, Inc. (a) 47,932 11,876,591 
Tyler Technologies, Inc. (a) 12,763 5,418,276 
  877,634,249 
Technology Hardware, Storage & Peripherals - 6.0%   
Apple, Inc. 4,964,098 606,364,559 
Hewlett Packard Enterprise Co. 409,401 6,443,972 
HP, Inc. 393,987 12,509,087 
NetApp, Inc. 69,993 5,086,391 
Seagate Technology LLC (b) 63,179 4,848,988 
Western Digital Corp. 96,294 6,427,625 
  641,680,622 
TOTAL INFORMATION TECHNOLOGY  2,818,353,199 
MATERIALS - 2.7%   
Chemicals - 1.8%   
Air Products & Chemicals, Inc. 69,580 19,575,637 
Albemarle Corp. U.S. (b) 36,690 5,360,776 
Celanese Corp. Class A 35,915 5,380,426 
CF Industries Holdings, Inc. 67,126 3,046,178 
Corteva, Inc. 234,084 10,912,996 
Dow, Inc. 234,448 14,990,605 
DuPont de Nemours, Inc. 169,375 13,089,300 
Eastman Chemical Co. 42,848 4,718,422 
Ecolab, Inc. 78,269 16,755,045 
FMC Corp. 40,666 4,498,066 
International Flavors & Fragrances, Inc. (b) 78,242 10,923,366 
Linde PLC 164,469 46,074,346 
LyondellBasell Industries NV Class A 80,942 8,422,015 
PPG Industries, Inc. 74,481 11,191,515 
Sherwin-Williams Co. 25,366 18,720,362 
The Mosaic Co. 108,839 3,440,401 
  197,099,456 
Construction Materials - 0.1%   
Martin Marietta Materials, Inc. 19,613 6,586,438 
Vulcan Materials Co. 41,628 7,024,725 
  13,611,163 
Containers & Packaging - 0.4%   
Amcor PLC 490,592 5,730,115 
Avery Dennison Corp. 26,144 4,801,346 
Ball Corp. 103,147 8,740,677 
International Paper Co. 123,539 6,679,754 
Packaging Corp. of America 29,771 4,003,604 
Sealed Air Corp. (b) 48,513 2,222,866 
WestRock Co. 82,907 4,315,309 
  36,493,671 
Metals & Mining - 0.4%   
Freeport-McMoRan, Inc. 458,802 15,108,350 
Newmont Corp. 251,768 15,174,057 
Nucor Corp. 93,799 7,529,246 
  37,811,653 
TOTAL MATERIALS  285,015,943 
REAL ESTATE - 2.4%   
Equity Real Estate Investment Trusts (REITs) - 2.3%   
Alexandria Real Estate Equities, Inc. 39,985 6,569,536 
American Tower Corp. 139,787 33,417,480 
AvalonBay Communities, Inc. 43,896 8,099,251 
Boston Properties, Inc. 44,601 4,516,297 
Crown Castle International Corp. 135,674 23,353,566 
Digital Realty Trust, Inc. 88,356 12,444,059 
Duke Realty Corp. 117,558 4,929,207 
Equinix, Inc. 28,100 19,096,479 
Equity Residential (SBI) 107,826 7,723,576 
Essex Property Trust, Inc. 20,447 5,558,312 
Extra Space Storage, Inc. 41,525 5,504,139 
Federal Realty Investment Trust (SBI) 21,920 2,223,784 
Healthpeak Properties, Inc. 169,462 5,378,724 
Host Hotels & Resorts, Inc. 221,931 3,739,537 
Iron Mountain, Inc. 90,714 3,357,325 
Kimco Realty Corp. 136,066 2,551,238 
Mid-America Apartment Communities, Inc. 35,971 5,192,774 
Prologis (REIT), Inc. 232,624 24,658,144 
Public Storage 47,830 11,802,531 
Realty Income Corp. 117,453 7,458,266 
Regency Centers Corp. 49,686 2,817,693 
SBA Communications Corp. Class A 34,388 9,544,389 
Simon Property Group, Inc. 103,367 11,760,064 
UDR, Inc. 93,375 4,095,428 
Ventas, Inc. 117,722 6,279,291 
Vornado Realty Trust 49,333 2,239,225 
Welltower, Inc. 131,308 9,405,592 
Weyerhaeuser Co. 235,508 8,384,085 
  252,099,992 
Real Estate Management & Development - 0.1%   
CBRE Group, Inc. (a) 105,716 8,363,193 
TOTAL REAL ESTATE  260,463,185 
UTILITIES - 2.6%   
Electric Utilities - 1.7%   
Alliant Energy Corp. 78,623 4,258,222 
American Electric Power Co., Inc. 156,239 13,233,443 
Duke Energy Corp. 241,823 23,343,174 
Edison International 119,495 7,002,407 
Entergy Corp. 63,047 6,271,285 
Evergy, Inc. 71,347 4,247,287 
Eversource Energy 107,808 9,335,095 
Exelon Corp. 307,005 13,428,399 
FirstEnergy Corp. 170,556 5,916,588 
NextEra Energy, Inc. 616,516 46,614,775 
NRG Energy, Inc. 76,981 2,904,493 
Pinnacle West Capital Corp. 35,407 2,880,359 
PPL Corp. 241,753 6,972,157 
Southern Co. 332,418 20,663,103 
Xcel Energy, Inc. 169,166 11,251,231 
  178,322,018 
Gas Utilities - 0.0%   
Atmos Energy Corp. 40,335 3,987,115 
Independent Power and Renewable Electricity Producers - 0.0%   
The AES Corp. 210,194 5,635,301 
Multi-Utilities - 0.8%   
Ameren Corp. (b) 79,709 6,485,124 
CenterPoint Energy, Inc. 173,522 3,930,273 
CMS Energy Corp. 90,884 5,563,918 
Consolidated Edison, Inc. 107,643 8,051,696 
Dominion Energy, Inc. 253,442 19,251,454 
DTE Energy Co. 61,002 8,121,806 
NiSource, Inc. 123,280 2,972,281 
Public Service Enterprise Group, Inc. 158,917 9,568,393 
Sempra Energy 95,198 12,621,351 
WEC Energy Group, Inc. 99,204 9,284,502 
  85,850,798 
Water Utilities - 0.1%   
American Water Works Co., Inc. 57,114 8,562,531 
TOTAL UTILITIES  282,357,763 
TOTAL COMMON STOCKS   
(Cost $3,463,304,294)  10,575,487,683 
 Principal Amount Value 
U.S. Treasury Obligations - 0.0%   
U.S. Treasury Bills, yield at date of purchase 0.09% 5/6/21 (c)   
(Cost $2,999,749) 3,000,000 2,999,964 
 Shares Value 
Money Market Funds - 1.5%   
Fidelity Cash Central Fund 0.06% (d) 131,043,370 $131,069,579 
Fidelity Securities Lending Cash Central Fund 0.06% (d)(e) 31,971,269 31,974,466 
TOTAL MONEY MARKET FUNDS   
(Cost $163,041,386)  163,044,045 
TOTAL INVESTMENT IN SECURITIES - 100.2%   
(Cost $3,629,345,429)  10,741,531,692 
NET OTHER ASSETS (LIABILITIES) - (0.2)%(f)  (18,981,853) 
NET ASSETS - 100%  $10,722,549,839 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 732 June 2021 $145,206,840 $1,248,121 $1,248,121 

The notional amount of futures purchased as a percentage of Net Assets is 1.4%

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,999,964.

 (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.

 (f) Includes $4,719,297 of cash collateral to cover margin requirements for futures contracts.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $10,346 
Fidelity Securities Lending Cash Central Fund 45,599 
Total $55,945 

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. Security 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, changes in interest rates and credit quality. 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 Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's 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 foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. 

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the 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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