# EDGAR Filing Document

**Accession Number:** 0000354046
**File Stem:** 0000354046-26-000011
**Filing Date:** 2026-5
**Character Count:** 909518
**Document Hash:** ab648104989c498d4d9c9f32807acabb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000354046-26-000011.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000354046-26-000011

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 117

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**EFFECTIVENESS DATE**: 20260521

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY CHARLES STREET TRUST
- **CENTRAL INDEX KEY:** 0000354046

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03221
- **FILM NUMBER:** 261006491

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY U S GOVERNMENT RESERVES FUND
- **DATE OF NAME CHANGE:** 19880201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY FEDERAL RESERVES
- **DATE OF NAME CHANGE:** 19820215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY UNITED STATES TREASURY TRUST
- **DATE OF NAME CHANGE:** 19811020

## Series and Classes Contracts Data

### Fidelity Asset Manager 50% (Series ID: S000005456)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000014857 | Fidelity Asset Manager 50%                  | FASMX           |
| C000037741 | Fidelity Advisor Asset Manager 50%: Class A | FFAMX           |
| C000037743 | Fidelity Advisor Asset Manager 50%: Class C | FFCMX           |
| C000037744 | Fidelity Advisor Asset Manager 50%: Class M | FFTMX           |
| C000037745 | Fidelity Advisor Asset Manager 50%: Class I | FFIMX           |
| C000205011 | Fidelity Advisor Asset Manager 50%: Class Z | FIKZX           |

### Fidelity Asset Manager 85% (Series ID: S000005457)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000014858 | Fidelity Asset Manager 85%                  | FAMRX           |
| C000037746 | Fidelity Advisor Asset Manager 85%: Class I | FEYIX           |
| C000037747 | Fidelity Advisor Asset Manager 85%: Class A | FEYAX           |
| C000037749 | Fidelity Advisor Asset Manager 85%: Class C | FEYCX           |
| C000037750 | Fidelity Advisor Asset Manager 85%: Class M | FEYTX           |
| C000205012 | Fidelity Advisor Asset Manager 85%: Class Z | FIQCX           |

### Fidelity Asset Manager 70% (Series ID: S000005458)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000014859 | Fidelity Asset Manager 70%                  | FASGX           |
| C000069447 | Fidelity Advisor Asset Manager 70%: Class A | FAASX           |
| C000069449 | Fidelity Advisor Asset Manager 70%: Class C | FCASX           |
| C000069450 | Fidelity Advisor Asset Manager 70%: Class M | FTASX           |
| C000069451 | Fidelity Advisor Asset Manager 70%: Class I | FAAIX           |
| C000205013 | Fidelity Advisor Asset Manager 70%: Class Z | FIQBX           |

### Fidelity Asset Manager 20% (Series ID: S000005459)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000014860 | Fidelity Asset Manager 20%                  | FASIX           |
| C000037751 | Fidelity Advisor Asset Manager 20%: Class A | FTAWX           |
| C000037753 | Fidelity Advisor Asset Manager 20%: Class C | FTCWX           |
| C000037754 | Fidelity Advisor Asset Manager 20%: Class M | FTDWX           |
| C000037755 | Fidelity Advisor Asset Manager 20%: Class I | FTIWX           |
| C000205014 | Fidelity Advisor Asset Manager 20%: Class Z | FIKVX           |

### Fidelity Asset Manager 30% (Series ID: S000019187)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000052989 | Fidelity Asset Manager 30%                  | FTANX           |
| C000052990 | Fidelity Advisor Asset Manager 30%: Class A | FTAAX           |
| C000052992 | Fidelity Advisor Asset Manager 30%: Class C | FCANX           |
| C000052993 | Fidelity Advisor Asset Manager 30%: Class M | FTTNX           |
| C000052994 | Fidelity Advisor Asset Manager 30%: Class I | FTINX           |
| C000205015 | Fidelity Advisor Asset Manager 30%: Class Z | FIKWX           |

### Fidelity Asset Manager 40% (Series ID: S000019188)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000052995 | Fidelity Advisor Asset Manager 40%: Class C | FFNCX           |
| C000052996 | Fidelity Advisor Asset Manager 40%: Class M | FFNTX           |
| C000052997 | Fidelity Advisor Asset Manager 40%: Class I | FFNIX           |
| C000052998 | Fidelity Asset Manager 40%                  | FFANX           |
| C000052999 | Fidelity Advisor Asset Manager 40%: Class A | FFNAX           |
| C000205016 | Fidelity Advisor Asset Manager 40%: Class Z | FIKYX           |

### Fidelity Asset Manager 60% (Series ID: S000019189)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000053001 | Fidelity Asset Manager 60%                  | FSANX           |
| C000053002 | Fidelity Advisor Asset Manager 60%: Class A | FSAAX           |
| C000053004 | Fidelity Advisor Asset Manager 60%: Class C | FSCNX           |
| C000053005 | Fidelity Advisor Asset Manager 60%: Class M | FSATX           |
| C000053006 | Fidelity Advisor Asset Manager 60%: Class I | FSNIX           |
| C000205017 | Fidelity Advisor Asset Manager 60%: Class Z | FIQAX           |

### Fidelity Health Savings Fund (Series ID: S000067946)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000217845 | Class K                      | FHLKX           |
| C000217846 | Fidelity Health Savings Fund | FHLSX           |

### Fidelity Health Savings Index Fund (Series ID: S000067947)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000217847 | Fidelity Health Savings Index Fund | FHSNX           |

### 85% Allocation Fund (Series ID: S000075290)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000234197 | 85% Allocation Fund | FRAGX           |

### 50% Allocation Fund (Series ID: S000075291)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000234198 | 50% Allocation Fund | FRYBX           |

### 70% Allocation Fund (Series ID: S000075292)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000234199 | 70% Allocation Fund | FRGAX           |

### 30% Allocation Fund (Series ID: S000075293)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000234200 | 30% Allocation Fund | FMWIX           |

### Fidelity Sustainable Multi-Asset Fund (Series ID: S000075297)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000234214 | Fidelity Advisor Sustainable Multi-Asset Fund: Class I | FYMIX           |
| C000234215 | Fidelity Advisor Sustainable Multi-Asset Fund: Class M | FYMMX           |
| C000234216 | Fidelity Advisor Sustainable Multi-Asset Fund: Class C | FYMCX           |
| C000234217 | Fidelity Sustainable Multi-Asset Fund                  | FYMRX           |
| C000234218 | Fidelity Advisor Sustainable Multi-Asset Fund: Class A | FYMAX           |

?xml version='1.0' encoding='ASCII'? Prospectus - Investment Objective

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 <u>811-03221</u>

<u>Fidelity Charles Street Trust</u>

(Exact name of registrant as specified in charter)

<u>245 Summer St., Boston, MA 02210</u>

(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp; (Zip code)

Nicole Macarchuk, Secretary

245 Summer St.

<u>Boston, Massachusetts 02210</u>

(Name and address of agent for service)

Registrant's telephone number, including area code:

<u>617-563-7000</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp;Date of fiscal year end: | &nbsp;&nbsp;September 30 |
| &nbsp;&nbsp;Date of reporting period: | &nbsp;&nbsp;March 31, 2026 |

---

Item 1.

<u>Reports to Stockholders</u>

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| 30% Allocation Fund<br> **30% Allocation Fund : FMWIX** <br>|

---

This semi-annual shareholder report contains information about 30% Allocation Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| 30% Allocation Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $397371<br>|
| Number of Holdings | 4<br>|
| Portfolio Turnover | 14%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Bond Funds | 49.9 |
| Domestic Equity Funds | 21.1 |
| Short-Term Funds | 20.0 |
| International Equity Funds | 9.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6497_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bond Funds - 49.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Domestic Equity Funds - 21.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Funds - 20.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| International Equity Funds - 9.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Bond Index Fund | 49.9<br>|
| Fidelity Total Market Index Fund | 21.1<br>|
| Fidelity Short-Term Bond Index Fund | 20.0<br>|
| Fidelity Total International Index Fund | 9.0<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6497_20260331_1.jpg)<br>| ![](img129126_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915592.101 6497-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| 70% Allocation Fund<br> **70% Allocation Fund : FRGAX** <br>|

---

This semi-annual shareholder report contains information about 70% Allocation Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| 70% Allocation Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1569231<br>|
| Number of Holdings | 4<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 49.1 |
| Bond Funds | 24.8 |
| International Equity Funds | 21.1 |
| Short-Term Funds | 5.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6499_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 49.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Bond Funds - 24.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| International Equity Funds - 21.1&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity Total Market Index Fund | 49.1<br>|
| Fidelity U.S. Bond Index Fund | 24.8<br>|
| Fidelity Total International Index Fund | 21.1<br>|
| Fidelity Short-Term Bond Index Fund | 5.0<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6499_20260331_1.jpg)<br>| ![](img129127_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915594.101 6499-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Sustainable Multi-Asset Fund<br> **Fidelity® Sustainable Multi-Asset Fund : FYMRX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Multi-Asset Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Sustainable Multi-Asset Fund  | $3  | 0.05% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $81186427<br>|
| Number of Holdings | 8<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 40.6 |
| International Equity Funds | 34.8 |
| Bond Funds | 24.4 |
| Short-Term Funds | 0.2 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6477_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 34.8&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 24.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Sustainability Index Fund | 40.6<br>|
| Fidelity Sustainable International Equity Fund | 14.3<br>|
| Fidelity Sustainable Core Plus Bond Fund | 13.7<br>|
| Fidelity International Sustainability Index Fund | 13.3<br>|
| Fidelity Sustainable Emerging Markets Equity Fund | 7.2<br>|
| Fidelity Inflation-Protected Bond Index Fund | 6.4<br>|
| Fidelity Long-Term Treasury Bond Index Fund | 4.3<br>|
| Fidelity Sustainable Low Duration Bond Fund | 0.2<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6477_20260331_1.jpg)<br>| ![](img129128_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915587.101 6477-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Sustainable Multi-Asset Fund<br> **Fidelity Advisor® Sustainable Multi-Asset Fund Class M : FYMMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Multi-Asset Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $28  | 0.55% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $81186427<br>|
| Number of Holdings | 8<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 40.6 |
| International Equity Funds | 34.8 |
| Bond Funds | 24.4 |
| Short-Term Funds | 0.2 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6477_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 34.8&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 24.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Sustainability Index Fund | 40.6<br>|
| Fidelity Sustainable International Equity Fund | 14.3<br>|
| Fidelity Sustainable Core Plus Bond Fund | 13.7<br>|
| Fidelity International Sustainability Index Fund | 13.3<br>|
| Fidelity Sustainable Emerging Markets Equity Fund | 7.2<br>|
| Fidelity Inflation-Protected Bond Index Fund | 6.4<br>|
| Fidelity Long-Term Treasury Bond Index Fund | 4.3<br>|
| Fidelity Sustainable Low Duration Bond Fund | 0.2<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6477_20260331_1.jpg)<br>| ![](img129129_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915590.101 6480-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Sustainable Multi-Asset Fund<br> **Fidelity Advisor® Sustainable Multi-Asset Fund Class I : FYMIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Multi-Asset Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $3  | 0.05% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $81186427<br>|
| Number of Holdings | 8<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 40.6 |
| International Equity Funds | 34.8 |
| Bond Funds | 24.4 |
| Short-Term Funds | 0.2 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6477_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 34.8&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 24.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Sustainability Index Fund | 40.6<br>|
| Fidelity Sustainable International Equity Fund | 14.3<br>|
| Fidelity Sustainable Core Plus Bond Fund | 13.7<br>|
| Fidelity International Sustainability Index Fund | 13.3<br>|
| Fidelity Sustainable Emerging Markets Equity Fund | 7.2<br>|
| Fidelity Inflation-Protected Bond Index Fund | 6.4<br>|
| Fidelity Long-Term Treasury Bond Index Fund | 4.3<br>|
| Fidelity Sustainable Low Duration Bond Fund | 0.2<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6477_20260331_1.jpg)<br>| ![](img129130_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915591.101 6481-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Sustainable Multi-Asset Fund<br> **Fidelity Advisor® Sustainable Multi-Asset Fund Class C : FYMCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Multi-Asset Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $52  | 1.05% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $81186427<br>|
| Number of Holdings | 8<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 40.6 |
| International Equity Funds | 34.8 |
| Bond Funds | 24.4 |
| Short-Term Funds | 0.2 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6477_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 34.8&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 24.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Sustainability Index Fund | 40.6<br>|
| Fidelity Sustainable International Equity Fund | 14.3<br>|
| Fidelity Sustainable Core Plus Bond Fund | 13.7<br>|
| Fidelity International Sustainability Index Fund | 13.3<br>|
| Fidelity Sustainable Emerging Markets Equity Fund | 7.2<br>|
| Fidelity Inflation-Protected Bond Index Fund | 6.4<br>|
| Fidelity Long-Term Treasury Bond Index Fund | 4.3<br>|
| Fidelity Sustainable Low Duration Bond Fund | 0.2<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6477_20260331_1.jpg)<br>| ![](img129131_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915589.101 6479-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Sustainable Multi-Asset Fund<br> **Fidelity Advisor® Sustainable Multi-Asset Fund Class A : FYMAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Multi-Asset Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $15  | 0.30% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $81186427<br>|
| Number of Holdings | 8<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 40.6 |
| International Equity Funds | 34.8 |
| Bond Funds | 24.4 |
| Short-Term Funds | 0.2 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6477_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 34.8&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 24.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Sustainability Index Fund | 40.6<br>|
| Fidelity Sustainable International Equity Fund | 14.3<br>|
| Fidelity Sustainable Core Plus Bond Fund | 13.7<br>|
| Fidelity International Sustainability Index Fund | 13.3<br>|
| Fidelity Sustainable Emerging Markets Equity Fund | 7.2<br>|
| Fidelity Inflation-Protected Bond Index Fund | 6.4<br>|
| Fidelity Long-Term Treasury Bond Index Fund | 4.3<br>|
| Fidelity Sustainable Low Duration Bond Fund | 0.2<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6477_20260331_1.jpg)<br>| ![](img129132_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915588.101 6478-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Health Savings Index Fund<br> **Fidelity® Health Savings Index Fund : FHSNX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Health Savings Index Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Health Savings Index Fund  | $5  | 0.10% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $32754925<br>|
| Number of Holdings | 10<br>|
| Portfolio Turnover | 32%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

Bonds 52.6 <br> Equities 40.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 6.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6047_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 40.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 6.8 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Bond Index Fund | 20.6<br>|
| Fidelity Total Market Index Fund | 17.3<br>|
| Fidelity International Bond Index Fund | 14.9<br>|
| Fidelity International Index Fund | 11.1<br>|
| Fidelity Short-Term Bond Index Fund | 9.9<br>|
| Fidelity Emerging Markets Index Fund | 7.7<br>|
| Fidelity Commodity Strategy Central Fund | 4.5<br>|
| Fidelity Inflation-Protected Bond Index Fund | 4.4<br>|
| iShares iBoxx $ High Yield Corporate Bond ETF | 2.8<br>|
|  | 93.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6047_20260331_1.jpg)<br>| ![](img129152_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915586.101 6047-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Health Savings Fund<br> **Fidelity® Health Savings Fund : FHLSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Health Savings Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Health Savings Fund  | $22  | 0.44% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $68821351<br>|
| Number of Holdings | 15<br>|
| Portfolio Turnover | 24%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| Common Stocks | 32.2 |
| Fixed-Income Funds | 29.2 |
| Bonds | 23.4 |
| Domestic Equity Funds | 7.9 |
| Preferred Stocks | 0.1 |
| Alternative Funds | 0.1 |
| Preferred Securities | 0.1 |
| Options | 0.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 7.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6046_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 32.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Fixed-Income Funds - 29.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Domestic Equity Funds - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Preferred Stocks - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Alternative Funds - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Preferred Securities - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Options - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 7.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity International Bond Index Fund | 14.9<br>|
| Fidelity Short-Term Bond Fund | 9.9<br>|
| US Treasury Notes | 8.0<br>|
| Fidelity Commodity Strategy Central Fund | 4.5<br>|
| Fidelity Inflation-Protected Bond Index Fund | 4.4<br>|
| US Treasury Bonds | 2.4<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| NVIDIA Corp | 1.3<br>|
| Fidelity Enhanced Small Cap ETF | 1.2<br>|
| Fidelity Blue Chip Growth ETF | 1.1<br>|
|  | 49.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6046_20260331_1.jpg)<br>| ![](img129153_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915584.101 6046-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity® Health Savings Fund<br> **Fidelity® Health Savings Fund Class K : FHLKX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Health Savings Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class K  | $17  | 0.34% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $68821351<br>|
| Number of Holdings | 15<br>|
| Portfolio Turnover | 24%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| Common Stocks | 32.2 |
| Fixed-Income Funds | 29.2 |
| Bonds | 23.4 |
| Domestic Equity Funds | 7.9 |
| Preferred Stocks | 0.1 |
| Alternative Funds | 0.1 |
| Preferred Securities | 0.1 |
| Options | 0.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 7.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6046_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 32.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Fixed-Income Funds - 29.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Domestic Equity Funds - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Preferred Stocks - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Alternative Funds - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Preferred Securities - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Options - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 7.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity International Bond Index Fund | 14.9<br>|
| Fidelity Short-Term Bond Fund | 9.9<br>|
| US Treasury Notes | 8.0<br>|
| Fidelity Commodity Strategy Central Fund | 4.5<br>|
| Fidelity Inflation-Protected Bond Index Fund | 4.4<br>|
| US Treasury Bonds | 2.4<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| NVIDIA Corp | 1.3<br>|
| Fidelity Enhanced Small Cap ETF | 1.2<br>|
| Fidelity Blue Chip Growth ETF | 1.1<br>|
|  | 49.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6046_20260331_1.jpg)<br>| ![](img129154_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915585.101 6048-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Asset Manager® 85% : FAMRX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 85%  | $29  | 0.57% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129157_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915550.101 347-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Advisor Asset Manager® 85% Class Z : FIQCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $25  | 0.50% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129158_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915549.101 3261-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Advisor Asset Manager® 85% Class M : FEYTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $56  | 1.11% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129159_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915547.101 1774-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Advisor Asset Manager® 85% Class I : FEYIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $31  | 0.61% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129160_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915548.101 1775-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Advisor Asset Manager® 85% Class C : FEYCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $81  | 1.61% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129161_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915546.101 1773-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 85%<br> **Fidelity Advisor Asset Manager® 85% Class A : FEYAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 85% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $43  | 0.86% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6038200916<br>|
| Number of Holdings | 35<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 6.9 |
| AAA | 0.5 |
| AA | 0.2 |
| A | 0.7 |
| BBB | 1.4 |
| BB | 0.5 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.2 |
| Equities | 86.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img347_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 6.9 |
| &nbsp;&nbsp;AAA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 19.2 |
| Financials | 14.4 |
| Industrials | 9.0 |
| Consumer Discretionary | 6.8 |
| Health Care | 6.4 |
| Communication Services | 6.2 |
| Consumer Staples | 3.7 |
| Energy | 3.7 |
| Materials | 3.4 |
| Utilities | 2.1 |
| Real Estate | 1.4 |

---

Equities 86.1 <br> Bonds 12.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img347_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 86.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.6 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 4.8<br>|
| Fidelity Enhanced Small Cap ETF | 3.5<br>|
| NVIDIA Corp | 3.5<br>|
| Fidelity Blue Chip Growth ETF | 3.0<br>|
| Alphabet Inc Class A | 2.7<br>|
| Apple Inc | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.1<br>|
| Microsoft Corp | 1.9<br>|
| Amazon.com Inc | 1.6<br>|
| Fidelity Fundamental Small-Mid Cap ETF | 1.5<br>|
|  | 27.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img347_20260331_1.jpg)<br>| ![](img129162_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915545.101 1771-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Asset Manager® 70% : FASGX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 70%  | $28  | 0.56% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129163_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915537.101 321-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Advisor Asset Manager® 70% Class Z : FIQBX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $25  | 0.50% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129164_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915538.101 3260-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Advisor Asset Manager® 70% Class M : FTASX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $56  | 1.11% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129165_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915535.101 2111-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Advisor Asset Manager® 70% Class I : FAAIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $31  | 0.61% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129166_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915536.101 2112-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Advisor Asset Manager® 70% Class C : FCASX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $81  | 1.61% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129167_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915534.101 2110-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 70%<br> **Fidelity Advisor Asset Manager® 70% Class A : FAASX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 70% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $43  | 0.86% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7891523536<br>|
| Number of Holdings | 29<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 13.5 |
| AAA | 1.2 |
| AA | 0.2 |
| A | 1.5 |
| BBB | 2.9 |
| BB | 0.6 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 1.9 |
| Equities | 74.1 |
| Short-Term Investments and Net Other Assets (Liabilities) | 3.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img321_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 13.5 |
| &nbsp;&nbsp;AAA - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 16.3 |
| Financials | 14.1 |
| Industrials | 8.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Communication Services | 5.4 |
| Energy | 3.3 |
| Consumer Staples | 3.1 |
| Materials | 2.7 |
| Utilities | 2.0 |
| Real Estate | 1.4 |

---

Equities 74.1 <br> Bonds 22.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img321_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 74.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 22.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 8.7<br>|
| Fidelity Enhanced Small Cap ETF | 3.2<br>|
| NVIDIA Corp | 2.9<br>|
| Fidelity Blue Chip Growth ETF | 2.4<br>|
| Alphabet Inc Class A | 2.3<br>|
| US Treasury Bonds | 2.2<br>|
| Apple Inc | 2.0<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.8<br>|
| Microsoft Corp | 1.5<br>|
| Amazon.com Inc | 1.4<br>|
|  | 28.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img321_20260331_1.jpg)<br>| ![](img129168_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915533.101 2108-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Asset Manager® 60% : FSANX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 60%  | $29  | 0.58% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129169_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915573.101 1959-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Advisor Asset Manager® 60% Class Z : FIQAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $26  | 0.51% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129170_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915578.101 3259-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Advisor Asset Manager® 60% Class M : FSATX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $56  | 1.12% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129171_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915576.101 1974-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Advisor Asset Manager® 60% Class I : FSNIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $31  | 0.62% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129172_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915577.101 1975-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Advisor Asset Manager® 60% Class C : FSCNX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $82  | 1.62% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129173_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915575.101 1973-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 60%<br> **Fidelity Advisor Asset Manager® 60% Class A : FSAAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 60% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $44  | 0.87% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5066337916<br>|
| Number of Holdings | 33<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 20.2 |
| AAA | 1.5 |
| AA | 0.2 |
| A | 2.2 |
| BBB | 4.8 |
| BB | 0.7 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 2.7 |
| Equities | 64.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 2.4 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1959_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 20.2 |
| &nbsp;&nbsp;AAA - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 14.1 |
| Financials | 13.8 |
| Industrials | 7.6 |
| Consumer Discretionary | 5.0 |
| Health Care | 4.9 |
| Communication Services | 4.8 |
| Energy | 3.3 |
| Consumer Staples | 2.6 |
| Materials | 2.5 |
| Utilities | 1.8 |
| Real Estate | 1.4 |

---

Equities 64.4 <br> Bonds 33.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1959_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 64.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 12.8<br>|
| US Treasury Bonds | 3.3<br>|
| Fidelity Enhanced Small Cap ETF | 2.6<br>|
| NVIDIA Corp | 2.5<br>|
| Fidelity Blue Chip Growth ETF | 2.1<br>|
| Alphabet Inc Class A | 2.0<br>|
| Apple Inc | 1.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.6<br>|
| Microsoft Corp | 1.3<br>|
| Amazon.com Inc | 1.2<br>|
|  | 31.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1959_20260331_1.jpg)<br>| ![](img129174_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915574.101 1971-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Asset Manager® 50% : FASMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 50%  | $24  | 0.48% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129175_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915524.101 314-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Advisor Asset Manager® 50% Class Z : FIKZX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $21  | 0.41% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129176_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915525.101 3258-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Advisor Asset Manager® 50% Class M : FFTMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $51  | 1.02% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129177_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915522.101 1769-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Advisor Asset Manager® 50% Class I : FFIMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $26  | 0.52% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129178_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915523.101 1770-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Advisor Asset Manager® 50% Class C : FFCMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $77  | 1.52% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129179_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915521.101 1768-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 50%<br> **Fidelity Advisor Asset Manager® 50% Class A : FFAMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 50% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $39  | 0.77% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10169918631<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 13%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 23.3 |
| AAA | 1.9 |
| AA | 0.2 |
| A | 2.4 |
| BBB | 5.5 |
| BB | 1.0 |
| B | 0.6 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.1 |
| Equities | 57.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 4.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img314_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 23.3 |
| &nbsp;&nbsp;AAA - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 57.5 <br> Bonds 38.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img314_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 57.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 14.6<br>|
| US Treasury Bonds | 3.9<br>|
| Fidelity Enhanced Small Cap ETF | 2.5<br>|
| NVIDIA Corp | 2.3<br>|
| Fidelity Blue Chip Growth ETF | 1.9<br>|
| Alphabet Inc Class A | 1.8<br>|
| Apple Inc | 1.6<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.3<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
|  | 32.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img314_20260331_1.jpg)<br>| ![](img129180_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915520.101 1766-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Asset Manager® 40% : FFANX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 40%  | $23  | 0.46% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129181_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915567.101 1958-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Advisor Asset Manager® 40% Class Z : FIKYX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $21  | 0.43% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129182_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915572.101 3257-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Advisor Asset Manager® 40% Class M : FFNTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $49  | 0.98% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129183_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915570.101 1969-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Advisor Asset Manager® 40% Class I : FFNIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $24  | 0.48% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129184_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915571.101 1970-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Advisor Asset Manager® 40% Class C : FFNCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $74  | 1.48% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129185_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915569.101 1968-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 40%<br> **Fidelity Advisor Asset Manager® 40% Class A : FFNAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 40% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $37  | 0.73% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2611377983<br>|
| Number of Holdings | 34<br>|
| Portfolio Turnover | 11%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 26.7 |
| AAA | 2.1 |
| AA | 0.3 |
| A | 2.9 |
| BBB | 6.0 |
| BB | 0.8 |
| B | 0.7 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.5 |
| Equities | 47.5 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.2 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1958_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 26.7 |
| &nbsp;&nbsp;AAA - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Equities 47.5 <br> Bonds 43.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1958_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Equities - 47.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bonds - 43.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.2 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 16.7<br>|
| US Treasury Bonds | 4.4<br>|
| Fidelity Enhanced Small Cap ETF | 2.0<br>|
| NVIDIA Corp | 1.9<br>|
| Fidelity Blue Chip Growth ETF | 1.5<br>|
| Alphabet Inc Class A | 1.5<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.4<br>|
| Ginnie Mae II Pool | 1.4<br>|
| Apple Inc | 1.4<br>|
| Freddie Mac Gold Pool | 1.3<br>|
|  | 33.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1958_20260331_1.jpg)<br>| ![](img129186_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915568.101 1966-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Asset Manager® 30% : FTANX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 30%  | $23  | 0.46% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129187_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915561.101 1957-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Advisor Asset Manager® 30% Class Z : FIKWX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $21  | 0.42% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129188_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915566.101 3256-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Advisor Asset Manager® 30% Class M : FTTNX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $49  | 0.98% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129189_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915564.101 1964-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Advisor Asset Manager® 30% Class I : FTINX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $24  | 0.48% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129190_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915565.101 1965-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Advisor Asset Manager® 30% Class C : FCANX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $74  | 1.48% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129191_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915563.101 1963-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 30%<br> **Fidelity Advisor Asset Manager® 30% Class A : FTAAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 30% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $37  | 0.73% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2166836431<br>|
| Number of Holdings | 36<br>|
| Portfolio Turnover | 18%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.7 |
| AAA | 2.5 |
| AA | 0.5 |
| A | 3.1 |
| BBB | 6.8 |
| BB | 0.9 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.7 |
| Equities | 42.4 |
| Short-Term Investments and Net Other Assets (Liabilities) | 9.3 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1957_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.7 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 42.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 53.0 <br> Equities 37.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1957_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 53.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 37.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.3 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.5<br>|
| US Treasury Bonds | 5.0<br>|
| Fidelity Low Duration Bond ETF | 4.7<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.5<br>|
| Fidelity Enhanced Small Cap ETF | 1.5<br>|
| NVIDIA Corp | 1.5<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Blue Chip Growth ETF | 1.2<br>|
|  | 38.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img1957_20260331_1.jpg)<br>| ![](img129192_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915562.101 1961-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Asset Manager® 20% : FASIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity Asset Manager® 20%  | $22  | 0.44% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129193_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915544.101 328-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Advisor Asset Manager® 20% Class Z : FIKVX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $21  | 0.41% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129194_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915543.101 3255-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Advisor Asset Manager® 20% Class M : FTDWX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $49  | 0.97% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129195_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915541.101 1764-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Advisor Asset Manager® 20% Class I : FTIWX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $23  | 0.47% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129196_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915542.101 1765-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Advisor Asset Manager® 20% Class C : FTCWX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $74  | 1.46% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129197_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915540.101 1763-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| Fidelity Asset Manager® 20%<br> **Fidelity Advisor Asset Manager® 20% Class A : FTAWX** <br>|

---

This semi-annual shareholder report contains information about Fidelity Asset Manager® 20% for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $36  | 0.72% |

---

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $6114557069<br>|
| Number of Holdings | 32<br>|
| Portfolio Turnover | 21%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

The information in the following tables is based on the combined Investments of the Fund and it's pro-rata share of investments in Fidelity's Central Funds, other than the Commodity Strategy and Money Market Central Funds as applicable.

---

| | |
|:---|:---|
| U.S. Government and U.S. Government Agency Obligations | 29.6 |
| AAA | 2.5 |
| AA | 0.4 |
| A | 3.0 |
| BBB | 6.9 |
| BB | 0.8 |
| B | 0.8 |
| CCC,CC,C | 0.3 |
| D | 0.0 |
| Not Rated | 3.6 |
| Equities | 32.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 20.1 |

---

---

| |
|:---|
| **QUALITY DIVERSIFICATION (% of Fund's net assets)** |
| ![](img328_20260331_QD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;U.S. Government and U.S. Government Agency Obligations - 29.6 |
| &nbsp;&nbsp;AAA - 2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;AA - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;A - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BBB - 6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;BB - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;B - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;CCC,CC,C - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;D - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Not Rated - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Equities - 32.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |
| We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |

---

Bonds 52.3 <br> Equities 27.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 20.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img328_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bonds - 52.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Equities - 27.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 20.1 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| US Treasury Notes | 18.4<br>|
| US Treasury Bonds | 4.9<br>|
| Fidelity Low Duration Bond ETF | 4.4<br>|
| Fannie Mae Mortgage pass-thru certificates | 1.6<br>|
| Ginnie Mae II Pool | 1.6<br>|
| Freddie Mac Gold Pool | 1.4<br>|
| Uniform Mortgage Backed Securities | 1.4<br>|
| Fidelity Hedged Equity ETF | 1.2<br>|
| Fidelity Commodity Strategy Central Fund | 1.1<br>|
| Fidelity Enhanced Small Cap ETF | 1.1<br>|
|  | 37.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img328_20260331_1.jpg)<br>| ![](img129198_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915539.101 1761-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| 50% Allocation Fund<br> **50% Allocation Fund : FRYBX** <br>|

---

This semi-annual shareholder report contains information about 50% Allocation Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| 50% Allocation Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1326452<br>|
| Number of Holdings | 4<br>|
| Portfolio Turnover | 12%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Bond Funds | 39.8 |
| Domestic Equity Funds | 35.1 |
| International Equity Funds | 15.1 |
| Short-Term Funds | 10.0 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6498_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Bond Funds - 39.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Domestic Equity Funds - 35.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 15.1&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Funds - 10.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity U.S. Bond Index Fund | 39.8<br>|
| Fidelity Total Market Index Fund | 35.1<br>|
| Fidelity Total International Index Fund | 15.1<br>|
| Fidelity Short-Term Bond Index Fund | 10.0<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6498_20260331_1.jpg)<br>| ![](img129210_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915593.101 6498-TSRS-0526 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF MARCH 31, 2026 |
| 85% Allocation Fund<br> **85% Allocation Fund : FRAGX** <br>|

---

This semi-annual shareholder report contains information about 85% Allocation Fund for the period October 1, 2025 to March 31, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| 85% Allocation Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of March 31, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2046158<br>|
| Number of Holdings | 3<br>|
| Portfolio Turnover | 17%<br>|

---

**What did the Fund invest in?** (as of March 31, 2026)

---

| | |
|:---|:---|
| Domestic Equity Funds | 60.0 |
| International Equity Funds | 25.1 |
| Bond Funds | 14.9 |
| Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6501_20260331_AA.jpg) <br>|

---

---

| |
|:---|
| Domestic Equity Funds - 60.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 25.1&nbsp;&nbsp;&nbsp;&nbsp;  |
| Bond Funds - 14.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.0 |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Fidelity Total Market Index Fund | 60.0<br>|
| Fidelity Total International Index Fund | 25.1<br>|
| Fidelity U.S. Bond Index Fund | 14.9<br>|
|  | 100.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6501_20260331_1.jpg)<br>| ![](img129211_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915595.101 6501-TSRS-0526 <br>|

---

Item 2.

<u>Code of Ethics</u>

Not applicable.

Item 3.

<u>Audit Committee Financial Expert</u>

Not applicable.

Item 4.

<u>Principal Accountant Fees and Services</u>

Not applicable.

Item 5.

<u>Audit Committee of Listed Registrants</u>

Not applicable.

Item 6.

<u>Investments</u>

(a) Not applicable.

(b) Not applicable

Item 7.

<u>Financial Statements and Financial Highlights for Open-End Management Investment Companies</u>

**Fidelity® Health Savings Index Fund**

**Semi-Annual Report**

**March 31, 2026**

![](img129570_1.jpg)

![](img129570_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_HSI-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Health Savings Index Fund](#Sub_Sec_Fund_6047_HSI-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6047_HSI-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_HSI-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_HSI-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_HSI-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_HSI-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

"BLOOMBERG®" and the Bloomberg indices listed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by Fidelity. Bloomberg is not affiliated with Fidelity, and Bloomberg does not approve, endorse, review, or recommend the fund. Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to the fund.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Health Savings Index Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 42.7%** | &nbsp;&nbsp;**Bond Funds - 42.7%** | &nbsp;&nbsp;**Bond Funds - 42.7%** |
|  | Shares | Value ($)<br>|
| Fidelity Inflation-Protected Bond Index Fund (b) | 159975 | 1463768 |
| Fidelity International Bond Index Fund (b) | 532671 | 4873941 |
| Fidelity U.S. Bond Index Fund (b) | 640477 | 6705794 |
| iShares iBoxx $ High Yield Corporate Bond ETF  | 11698 | 930693 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $14,057,718) |  | **13974196** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Commodity Strategy Central Fund (a) | 13091 | 1475883 |
| Fidelity Total Market Index Fund (b) | 31547 | 5659576 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $4,949,378) |  | **7135459** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 18.8%** | &nbsp;&nbsp;**International Equity Funds - 18.8%** | &nbsp;&nbsp;**International Equity Funds - 18.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Index Fund (b) | 177657 | 2513848 |
| Fidelity International Index Fund (b) | 59125 | 3629071 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $4,552,245) |  | **6142919** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 9.9%** | &nbsp;&nbsp;**Short-Term Funds - 9.9%** | &nbsp;&nbsp;**Short-Term Funds - 9.9%** |
|  | Shares | Value ($)<br>|
| Fidelity Short-Term Bond Index Fund (b)<br>(Cost $3,225,546)<br>| 323109 | **3250479** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c)<br>(Cost $2,193,077)<br>| 3.69 | 2192639 | **2193077** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $28,977,964)<br>| <br>**32696130** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **58795** |
| **NET ASSETS - 100.0%** | **32754925** |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(b) Affiliated fund.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 2645554 | 344047 | 796524 | 49040 | - | - | 2193077 | 2192639 | 0.0% |
| Fidelity Commodity Strategy Central Fund | 1084067 | 343261 | 190058 | 16669 | 13014 | 225599 | 1475883 | 13091 | 0.3% |
| Total | 3729621 | 687308 | 986582 | 65709 | 13014 | 225599 | 3668960 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Emerging Markets Index Fund | 2173717 | 550010 | 325803 | 50444 | 16224 | 99700 | 2513848 | 177657 |
| Fidelity Inflation-Protected Bond Index Fund | 1588124 | 377616 | 464861 | 42101 | 2105 | (39216) | 1463768 | 159975 |
| Fidelity International Bond Index Fund | 4598772 | 593689 | 195450 | 131919 | (9026) | (114044) | 4873941 | 532671 |
| Fidelity International Index Fund | 3724362 | 426050 | 613084 | 111047 | 71482 | 20261 | 3629071 | 59125 |
| Fidelity Short-Term Bond Index Fund | 3075792 | 388681 | 187518 | 66132 | (1353) | (25123) | 3250479 | 323109 |
| Fidelity Total Market Index Fund | 5263639 | 822350 | 266222 | 54820 | (1912) | (158279) | 5659576 | 31547 |
| Fidelity U.S. Bond Index Fund | 6318916 | 1612788 | 1159739 | 126043 | (53971) | (12200) | 6705794 | 640477 |
|  | 26743322 | 4771184 | 3212677 | 582506 | 23549 | (228901) | 28096477 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 13974196 | 13974196 | - | - |
|  **Domestic Equity Funds** | 7135459 | 7135459 | - | - |
|  **International Equity Funds** | 6142919 | 6142919 | - | - |
|  **Short-Term Funds** | 3250479 | 3250479 | - | - |
|  **Money Market Funds** | 2193077 | 2193077 | - | - |
| **Total Investments in Securities:** | 32696130 | 32696130 | - | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $932,977) | $930693 |  |
| Fidelity Central Funds (cost $3,443,361) | 3668960 |  |
| Other affiliated issuers (cost $24,601,626) | 28096477 |  |
| Total Investment in Securities (cost $28,977,964) |  | $32696130 |
| Cash |  | 8460 |
| Receivable for investments sold |  | 939850 |
| Receivable for fund shares sold |  | 9127 |
| Distributions receivable from Fidelity Central Funds |  | 6920 |
| **Total assets** |  | 33660487 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $897848 |  |
| Payable for fund shares redeemed | 4961 |  |
| Accrued management fee | 2753 |  |
| **Total liabilities** |  | 905562 |
| **Net Assets**  |  | $32754925 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $31290462 |
| Total accumulated earnings (loss) |  | 1464463 |
| **Net Assets** |  | $32754925 |
| **Net Asset Value**, offering price and redemption price per share ($32,754,925 ÷ 2,996,901 shares) |  | $10.93 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Unaffiliated issuers |  | $10530 |
| Affiliated issuers |  | 582506 |
| Income from Fidelity Central Funds  |  | 65709 |
| **Total income** |  | 658745 |
| **Expenses** |  |  |
| Management fee | $24104 |  |
| Independent trustees' fees and expenses | 37 |  |
| Total expenses before reductions | 24141 |  |
| Expense reductions | (8254) |  |
| Total expenses after reductions |  | 15887 |
| **Net Investment income (loss)** |  | 642858 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 1517 |  |
| Fidelity Central Funds | 13014 |  |
| Other affiliated issuers | 23549 |  |
| Total net realized gain (loss) |  | 38080 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (11733) |  |
| Fidelity Central Funds  | 225599 |  |
| Other affiliated issuers  | (228901) |  |
| Total change in net unrealized appreciation (depreciation) |  | (15035) |
| **Net gain (loss)** |  | 23045 |
| **Net increase (decrease) in net assets resulting from operations** |  | $665903 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $642858 | $836481 |
| &nbsp;&nbsp;Net realized gain (loss) | 38080<br>| (411139)<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (15035) | 1925258<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 665903<br>| 2350600<br>|
| Distributions to shareholders | (658020)<br>| (799321)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 3471792 | 4071384 |
| Reinvestment of distributions | 634806<br>| 768662<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (2063235) | (4207134) |
| **Net increase (decrease) in net assets resulting from share transactions** | 2043363<br>| 632912<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 2051246<br>| 2184191<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 30703679 | 28519488<br>|
| &nbsp;&nbsp;End of period | $32754925 | $30703679 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 313993 | 393788 |
| Issued in reinvestment of distributions | 57900<br>| 75520<br>|
| &nbsp;&nbsp;Redeemed | (186918) | (407893) |
| &nbsp;&nbsp;Net increase (decrease) | 184975 | 61415 |

---

**Financial Highlights** 

**Fidelity® Health Savings Index Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $10.92 | $10.37 | $9.12 | $9.01 | $11.06 | $10.41 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .30  | .31  | .29  | .32  | .17  |
| Net realized and unrealized gain (loss)  | .02  | .54  | 1.26  | .18  | (2.06)  | .66  |
| Total from investment operations  | .24  | .84  | 1.57  | .47  | (1.74)  | .83  |
| Distributions from net investment income  | (.23)  | (.29)  | (.32)  | (.36)  | (.28)  | (.14)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (.03)  | (.04)  |
| Total distributions  | (.23)  | (.29)  | (.32)  | (.36)  | (.31)  | (.18)  |
| Net asset value, end of period  | $10.93 | $10.92 | $10.37 | $9.12 | $9.01 | $11.06 |
| **Total Return** C,D | 2.19% <br>| 8.34%  | 17.46%  | 5.30%  | (16.22)%  | 7.99%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .15% G | .15%  | .15%  | .16%  | .15%  | .15%  |
| Expenses net of fee waivers, if any  | .10% G<br>| .10%  | .10%  | .11%  | .10%  | .10%  |
| Expenses net of all reductions, if any  | .10% G | .10%  | .10%  | .10%  | .10%  | .10%  |
| Net investment income (loss)  | 4.00% G | 2.91%  | 3.19%  | 3.14%  | 3.08%  | 1.51%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $32755 | $30704 | $28519 | $23900 | $19409 | $16864 |
| Portfolio turnover rate H | 32% G<br>| 54%  | 25%  | 49%  | 32%  | 42%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended March 31, 2026

**1. Organization.**

Fidelity Health Savings Index Fund (the Fund) is a fund of Fidelity Charles Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Shares are available only to certain Fidelity health savings accounts.

The Fund is a fund of funds, and therefore invests in other funds instead of individual securities. The Fund invests primarily in a combination of passively managed Fidelity bond and equity funds and affiliated and unaffiliated exchange-traded funds.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Commodity Strategy Central Fund | Geode Capital Management, LLC (Geode) | Seeks to provide investment returns that correspond to the performance of the commodities market. | Investment in commodity-related investments through a wholly-owned subsidiary organized under the laws of the Cayman Islands<br> Futures<br> Swaps | 0.01% |
| 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% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

An unaudited holdings listing for the investing fund, which presents direct holdings as well as the pro-rata share of any securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Fund uses a third party pricing service approved by the Board of Trustees (the Board) to value its investments. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. The Fund categorizes the inputs to valuation techniques used to value its investments 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 the Fund's investments by major category are as follows:

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

Exchange-Traded Funds (ETFs) are valued at their last sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETF may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of March 31, 2026 is included at the end of the Fund's Schedule of Investments.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds are recorded on the ex-dividend date. Distributions from any underlying mutual funds or exchange-traded funds that are deemed to be return of capital are recorded as a reduction of cost of investments.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $3924376 |
| **Gross unrealized depreciation** | <u>(270064)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$3654312</u> |
| **Tax cost** | <u>$29041818</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(258989) |
| Long-term | <u>(1976193)</u> |
| **Total capital loss carryforward** | <u>$(2235182)</u> |

---

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Health Savings Index Fund** | 6015307 | 4775177 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is based on an annual rate of .15% of the Fund's average net assets. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

During the period, the investment adviser waived a portion of its management fee as described in the Expense Reductions note.

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**7. Expense Reductions.** 

The investment adviser contractually agreed to waive the Fund's management fee in an amount equal to.05% of average net assets until January 31, 2027. For the period, management fees were reduced by $8,035.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $219.

**8. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**9. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img129570_4.jpg)<br>

1.9897520.106 HSI-SANN-0526

**Fidelity® Health Savings Fund**

**Semi-Annual Report**

**March 31, 2026**

![](img129571_1.jpg)

![](img129571_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_HSF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Health Savings Fund](#Sub_Sec_Fund_6046_HSF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6046_HSF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_HSF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_HSF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_HSF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_HSF-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Health Savings Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (a) | 14477 | 725588 |
| Fidelity Commodity Strategy Central Fund (b) | 27492 | 3099402 |
| Fidelity Enhanced Large Cap Value ETF (a) | 5075 | 177168 |
| Fidelity Enhanced Mid Cap ETF (a) | 8255 | 296850 |
| Fidelity Enhanced Small Cap ETF (a) | 21966 | 834708 |
| Fidelity Fundamental Small-Mid Cap ETF (a) | 11233 | 358894 |
| Fidelity U.S. Equity Central Fund (b) | 67220 | 9532412 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $12,453,317) |  | **15025022** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fixed-Income Funds - 42.7%** | &nbsp;&nbsp;**Fixed-Income Funds - 42.7%** | &nbsp;&nbsp;**Fixed-Income Funds - 42.7%** |
|  | Shares | Value ($)<br>|
| Fidelity High Income Central Fund (b) | 17875 | 1954836 |
| Fidelity Inflation-Protected Bond Index Fund (a) | 335954 | 3073977 |
| Fidelity International Bond Index Fund (a) | 1118637 | 10235530 |
| Fidelity Investment Grade Bond Central Fund (b) | 142739 | 14084055 |
| <br> **TOTAL FIXED-INCOME FUNDS**<br> (Cost $29,489,557) |  | **29348398** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 18.8%** | &nbsp;&nbsp;**International Equity Funds - 18.8%** | &nbsp;&nbsp;**International Equity Funds - 18.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (b) | 17562 | 5292221 |
| Fidelity International Equity Central Fund (b) | 64130 | 7631464 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $9,657,801) |  | **12923685** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 9.9%** | &nbsp;&nbsp;**Short-Term Funds - 9.9%** | &nbsp;&nbsp;**Short-Term Funds - 9.9%** |
|  | Shares | Value ($)<br>|
| Fidelity Short-Term Bond Fund (a)<br>(Cost $6,828,768)<br>| 806691 | **6832675** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c)<br>(Cost $4,588,879)<br>| 3.69 | 4587961 | **4588879** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.9%**<br> (Cost $63,018,322)<br>| <br>**68718659** |
| **NET OTHER ASSETS (LIABILITIES) - 0.1%**  | **102692** |
| **NET ASSETS - 100.0%** | **68821351** |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Affiliated fund.

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 5772044 | 598516 | 1781682 | 104519 | 1 | - | 4588879 | 4587961 | 0.0% |
| Fidelity Commodity Strategy Central Fund | 2346873 | 639253 | 391723 | 35643 | 35485 | 469514 | 3099402 | 27492 | 0.6% |
| Fidelity Emerging Markets Equity Central Fund | 4711412 | 890840 | 731292 | 51967 | 74057 | 347204 | 5292221 | 17562 | 0.2% |
| Fidelity High Income Central Fund | 282246 | 1910355 | 222226 | 34486 | 4819 | (20358) | 1954836 | 17875 | 0.1% |
| Fidelity International Equity Central Fund | 8086813 | 975179 | 1076540 | 507746 | 162809 | (516797) | 7631464 | 64130 | 0.1% |
| Fidelity Investment Grade Bond Central Fund | 13702367 | 2986958 | 2427704 | 311099 | (75722) | (101844) | 14084055 | 142739 | 0.0% |
| Fidelity U.S. Equity Central Fund | 9129702 | 1917044 | 642820 | 1015071 | (26091) | (846872) | 9532412 | 67220 | 0.0% |
| Total | 44031457 | 9918145 | 7273987 | 2060531 | 175358 | (669153) | 46183269 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 684004 | 95731 | 4389 | 271 | (53) | (49705) | 725588 | 14477 |
| Fidelity Enhanced Large Cap Value ETF | 170701 | 13917 | 15344 | 1579 | 986 | 6908 | 177168 | 5075 |
| Fidelity Enhanced Mid Cap ETF | 283561 | 33956 | 20223 | 1756 | 864 | (1308) | 296850 | 8255 |
| Fidelity Enhanced Small Cap ETF | 799055 | 73723 | 73414 | 3835 | 6188 | 29156 | 834708 | 21966 |
| Fidelity Fundamental Small-Mid Cap ETF | 342487 | 36783 | 55429 | 910 | 7966 | 27087 | 358894 | 11233 |
| Fidelity Inflation-Protected Bond Index Fund | 3440675 | 696963 | 984478 | 90138 | 5642 | (83376) | 3073977 | 335954 |
| Fidelity International Bond Index Fund | 9963344 | 931282 | 399092 | 281464 | (14261) | (245743) | 10235530 | 1118637 |
| Fidelity Short-Term Bond Fund | 6664432 | 634497 | 416234 | 142690 | (2027) | (47993) | 6832675 | 806691 |
|  | 22348259 | 2516852 | 1968603 | 522643 | 5305 | (364974) | 22535390 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Domestic Equity Funds** | 15025022 | 15025022 | - | - |
|  **Fixed-Income Funds** | 29348398 | 29348398 | - | - |
|  **International Equity Funds** | 12923685 | 12923685 | - | - |
|  **Short-Term Funds** | 6832675 | 6832675 | - | - |
|  **Money Market Funds** | 4588879 | 4588879 | - | - |
| **Total Investments in Securities:** | 68718659 | 68718659 | - | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Fidelity Central Funds (cost $40,553,671) | $46183269 |  |
| Other affiliated issuers (cost $22,464,651) | 22535390 |  |
| Total Investment in Securities (cost $63,018,322) |  | $68718659 |
| Cash |  | 17041 |
| Receivable for investments sold |  | 2023255 |
| Receivable for fund shares sold |  | 37412 |
| Distributions receivable from Fidelity Central Funds |  | 14482 |
| **Total assets** |  | 70810849 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $1910513 |  |
| Payable for fund shares redeemed | 57581 |  |
| Accrued management fee | 21404 |  |
| **Total liabilities** |  | 1989498 |
| **Net Assets**  |  | $68821351 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $64973012 |
| Total accumulated earnings (loss) |  | 3848339 |
| **Net Assets** |  | $68821351 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Fidelity Health Savings Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($23,770,566 ÷ 2,138,512 shares) |  | $11.12 |
| **Class K :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($45,050,785 ÷ 4,054,437 shares) |  | $11.11 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $522643 |
| Income from Fidelity Central Funds  |  | 683204 |
| **Total income** |  | 1205847 |
| **Expenses** |  |  |
| Management fee | $131162 |  |
| Independent trustees' fees and expenses | 79 |  |
| Total expenses before reductions | 131241 |  |
| Expense reductions | (4703) |  |
| Total expenses after reductions |  | 126538 |
| **Net Investment income (loss)** |  | 1079309 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Fidelity Central Funds | 175358 |  |
| Other affiliated issuers | 5305 |  |
| Capital gain distributions from underlying funds: |  |  |
| Affiliated issuers | 1377327 |  |
| Total net realized gain (loss) |  | 1557990 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Fidelity Central Funds  | (669153) |  |
| Other affiliated issuers  | (364974) |  |
| Total change in net unrealized appreciation (depreciation) |  | (1034127) |
| **Net gain (loss)** |  | 523863 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1603172 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $1079309 | $1893123 |
| &nbsp;&nbsp;Net realized gain (loss) | 1557990<br>| 25834<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (1034127) | 3233327<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1603172<br>| 5152284<br>|
| Distributions to shareholders | (1255041)<br>| (1776377)<br>|
| Share transactions - net increase (decrease) | 1924960<br>| 1989306<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 2273091<br>| 5365213<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 66548260 | 61183047<br>|
| &nbsp;&nbsp;End of period | $68821351 | $66548260 |

---

**Financial Highlights** 

**Fidelity® Health Savings Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.06 | $10.50 | $9.25 | $9.15 | $11.21 | $10.48 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .31  | .29  | .29  | .28  | .16  |
| Net realized and unrealized gain (loss)  | .09  | .55  | 1.26  | .20  | (2.02)  | .76  |
| Total from investment operations  | .26  | .86  | 1.55  | .49  | (1.74)  | .92  |
| Distributions from net investment income  | (.20)  | (.29)  | (.30)  | (.34)  | (.25)  | (.11)  |
| Distributions from net realized gain  | -  | (.01)  | -  | (.05)  | (.07)  | (.08)  |
| Total distributions  | (.20)  | (.30)  | (.30)  | (.39)  | (.32)  | (.19)  |
| Net asset value, end of period  | $11.12 | $11.06 | $10.50 | $9.25 | $9.15 | $11.21 |
| **Total Return** C,D | 2.40% <br>| 8.37%  | 17.02%  | 5.36%  | (15.98)%  | 8.81%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .45% G | .45%  | .45%  | .46%  | .45%  | .45%  |
| Expenses net of fee waivers, if any  | .44% G<br>| .44%  | .45%  | .46%  | .45%  | .45%  |
| Expenses net of all reductions, if any  | .44% G | .44%  | .45%  | .46%  | .45%  | .45%  |
| Net investment income (loss)  | 3.10% G | 2.98%  | 2.98%  | 3.11%  | 2.66%  | 1.48%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $23771 | $22679 | $21055 | $20513 | $18399 | $16668 |
| Portfolio turnover rate H | 24% G<br>| 54%  | 28%  | 46%  | 29%  | 31%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity® Health Savings Fund Class K**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.05 | $10.49 | $9.24 | $9.15 | $11.21 | $10.48 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .32  | .30  | .30  | .29  | .18  |
| Net realized and unrealized gain (loss)  | .09  | .55  | 1.26  | .19  | (2.02)  | .75  |
| Total from investment operations  | .27  | .87  | 1.56  | .49  | (1.73)  | .93  |
| Distributions from net investment income  | (.21)  | (.30)  | (.31)  | (.35)  | (.27)  | (.12)  |
| Distributions from net realized gain  | -  | (.01)  | -  | (.05)  | (.07)  | (.08)  |
| Total distributions  | (.21)  | (.31)  | (.31)  | (.40)  | (.33) C | (.20)  |
| Net asset value, end of period  | $11.11 | $11.05 | $10.49 | $9.24 | $9.15 | $11.21 |
| **Total Return** D,E | 2.45% <br>| 8.48%  | 17.19%  | 5.36%  | (15.88)%  | 8.92%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .35% H | .35%  | .35%  | .36%  | .35%  | .35%  |
| Expenses net of fee waivers, if any  | .34% H<br>| .34%  | .35%  | .36%  | .35%  | .35%  |
| Expenses net of all reductions, if any  | .34% H | .34%  | .35%  | .36%  | .35%  | .35%  |
| Net investment income (loss)  | 3.20% H | 3.08%  | 3.08%  | 3.21%  | 2.76%  | 1.58%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $45051 | $43869 | $40128 | $33183 | $22284 | $16827 |
| Portfolio turnover rate I | 24% H<br>| 54%  | 28%  | 46%  | 29%  | 31%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended March 31, 2026

**1. Organization.**

Fidelity Health Savings Fund (the Fund) is a fund of Fidelity Charles Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Fidelity Health Savings Fund and Class K shares, each of which has equal rights as to assets and voting privileges. Shares are available only to certain Fidelity health savings accounts. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

The Fund is a fund of funds, and therefore invests in other funds instead of individual securities. The Fund invests primarily in a combination of both actively and passively managed Fidelity bond and equity funds and affiliated and unaffiliated exchange-traded funds.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Commodity Strategy Central Fund | Geode Capital Management, LLC (Geode) | Seeks to provide investment returns that correspond to the performance of the commodities market. | Investment in commodity-related investments through a wholly-owned subsidiary organized under the laws of the Cayman Islands<br> Futures<br> Swaps  | 0.01% |
| Fidelity Emerging Markets Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in equity securities of issuers in emerging markets. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Loans & Direct Debt Instruments | 0.02% |
| Fidelity International Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in non-U.S. based common stocks, including securities of issuers located in emerging markets. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Futures<br> Loans & Direct Debt Instruments | 0.01% |
| Fidelity High Income Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. | Foreign Securities<br> Futures<br> Loans & Direct Debt Instruments<br> Restricted Securities<br>| Less than .005% |
| Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Loans & Direct Debt Instruments | 0.02% |
| Fidelity U.S. Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in common stocks, allocated across different market sectors. | Foreign Securities<br> Futures<br> Restricted Securities | Less than .005% |
| 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% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

An unaudited holdings listing for the investing fund, which presents direct holdings as well as the pro-rata share of any securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Fund categorizes the inputs to valuation techniques used to value its investments 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 the Fund's investments by major category are as follows:

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

Exchange-Traded Funds (ETFs) are valued at their last sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

The aggregate value of investments by input level as of March 31, 2026 is included at the end of the Fund's Schedule of Investments.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds are recorded on the ex-dividend date. Distributions from any underlying mutual funds or exchange-traded funds that are deemed to be return of capital are recorded as a reduction of cost of investments.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to short-term gain distributions from the underlying mutual funds or exchange-traded funds (ETFs), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $6128592 |
| **Gross unrealized depreciation** | <u>(535559)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$5593033</u> |
| **Tax cost** | <u>$63125626</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(315918) |
| Long-term | <u>(2997070)</u> |
| **Total capital loss carryforward** | <u>$(3312988)</u> |

---

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Health Savings Fund** | 11836482 | 7460907 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which each class of the Fund pays a monthly management fee. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses. During the period, the management fee for each class of the Fund was as follows:

---

| | |
|:---|:---|
|  | **Annual % of Class-Level Average Net Assets** |
| **Fidelity Health Savings Fund** | .45% |
| **Class K** | .35% |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**7. Expense Reductions.** 

The investment adviser has contractually agreed to waive the Fund's management fee with respect to the portion of the Fund's assets invested in certain affiliated ETFs. This waiver cannot be removed or modified without the approval of the Board. During the period this waiver reduced the Fund's management fee as follows:

---

| | |
|:---|:---|
|  | **Waiver ($)** |
| **Fidelity Health Savings Fund** | 4543 |

---

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $160.

**8. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **March 31, 2026** | **Year ended**<br> **September 30, 2025** |
| **Fidelity Health Savings Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Fidelity Health Savings Fund | $421036 | $591904 |
| Class K | &nbsp;&nbsp;&nbsp;&nbsp; <u>834005</u> | <u>1184473</u> |
| Total  | <u>$1255041</u> | <u>$1776377</u> |

---

**9. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025** | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025** |
| **Fidelity Health Savings Fund** |  |  |  |  |
| **Fidelity Health Savings Fund** |  |  |  |  |
| Shares sold | 186267 | 283337 | $2088357 | $2972201 |
| Reinvestment of distributions  | 35445 | 53181 | 394096 | 551296 |
| Shares redeemed | <u>(134487)</u> | <u>(290526)</u> | <u>(1505126)</u> | <u>(3038051)</u> |
| Net increase (decrease) | <u>87225</u> | <u>45992</u> | <u>$977327</u> | <u>$485446</u> |
| **Class K** |  |  |  |  |
| Shares sold | 247762 | 494663 | $2774637 | $5163358 |
| Reinvestment of distributions  | 74184 | 112910 | 824296 | 1170555 |
| Shares redeemed | <u>(237005)</u> | <u>(461630)</u> | <u>(2651300)</u> | <u>(4830053)</u> |
| Net increase (decrease) | <u>84941</u> | <u>145943</u> | <u>$947633</u> | <u>$1503860</u> |

---

**10. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**11. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img129571_4.jpg)<br>

1.9897538.106 HSF-SANN-0526

**Fidelity Asset Manager® Funds**

**Fidelity Asset Manager® 20%**

**Fidelity Asset Manager® 30%**

**Fidelity Asset Manager® 40%**

**Fidelity Asset Manager® 50%**

**Fidelity Asset Manager® 60%**

**Fidelity Asset Manager® 70%**

**Fidelity Asset Manager® 85%**

**Semi-Annual Report**

**March 31, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img129575_1.jpg)

![](img129575_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_AR-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 20%](#Sub_Sec_Fund_328_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 30%](#Sub_Sec_Fund_1957_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 40%](#Sub_Sec_Fund_1958_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 50%](#Sub_Sec_Fund_314_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 60%](#Sub_Sec_Fund_1959_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 70%](#Sub_Sec_Fund_321_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Asset Manager® 85%](#Sub_Sec_Fund_347_AR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements328_AR-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_AR-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_AR-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_AR-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_AR-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Funds nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity Asset Manager® 20%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 47.1%** | &nbsp;&nbsp;**Bond Funds - 47.1%** | &nbsp;&nbsp;**Bond Funds - 47.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 977174 | 88991211 |
| Fidelity Floating Rate Central Fund (c) | 165429 | 15547016 |
| Fidelity High Income Central Fund (c) | 426025 | 46590082 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 1318014 | 118647649 |
| Fidelity International Credit Central Fund (c) | 187841 | 15712904 |
| Fidelity Investment Grade Bond Central Fund (c) | 26304259 | 2595441211 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $2,913,369,456) |  | **2880930073** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 18.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 18.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 18.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 1072103 | 53733802 |
| Fidelity Commodity Strategy Central Fund (c) | 606595 | 68387490 |
| Fidelity Enhanced Large Cap Value ETF (b) | 422202 | 14739072 |
| Fidelity Enhanced Mid Cap ETF (b) | 606331 | 21803663 |
| Fidelity Enhanced Small Cap ETF (b) | 1758518 | 66823684 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 903457 | 28865451 |
| Fidelity Hedged Equity ETF (b) | 2470503 | 72682198 |
| Fidelity Managed Futures ETF (b) | 535671 | 30744837 |
| Fidelity Real Estate Equity Central Fund (c) | 91289 | 12876355 |
| Fidelity U.S. Equity Central Fund (c) | 5159214 | 731628078 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $574,260,373) |  | **1102284630** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 10.0%** | &nbsp;&nbsp;**International Equity Funds - 10.0%** | &nbsp;&nbsp;**International Equity Funds - 10.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 709565 | 213827407 |
| Fidelity International Equity Central Fund (c) | 3331980 | 396505678 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $400,088,397) |  | **610333085** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 4.4%** | &nbsp;&nbsp;**Short-Term Funds - 4.4%** | &nbsp;&nbsp;**Short-Term Funds - 4.4%** |
|  | Shares | Value ($)<br>|
| Fidelity Low Duration Bond ETF (b)<br>(Cost $265,795,854)<br>| 5300837 | **266731227** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** |
|  | Yield (%) (d) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/16/2026 (e) | 3.60 | 3360000 | 3354924 |
| US Treasury Bills 0% 4/2/2026 (e) | 3.58 | 3570000 | 3569640 |
| US Treasury Bills 0% 4/30/2026 (e) | 3.61 | 800000 | 797661 |
| US Treasury Bills 0% 4/9/2026 (e) | 3.54 | 7540000 | 7533950 |
| US Treasury Bills 0% 5/7/2026 (e) | 3.62 | 950000 | 946540 |
| US Treasury Bills 0% 6/25/2026 (e) | 3.62 to 3.65 | 1100000 | 1090682 |
| US Treasury Bills 0% 7/2/2026 (e) | 3.64 | 680000 | 673738 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $17,967,433) |  |  | **17967135** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 20.3%** | &nbsp;&nbsp;**Money Market Funds - 20.3%** | &nbsp;&nbsp;**Money Market Funds - 20.3%** | &nbsp;&nbsp;**Money Market Funds - 20.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $1,240,716,629)<br>| 3.69 | 1240468536 | **1240716629** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $5,412,198,142)<br>| <br>**6118962779** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(4405710)** |
| **NET ASSETS - 100.0%** | **6114557069** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 825 | 6/2026 | 91575000 | (1567756) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 262 | 6/2026 | 30473875 | 98655 |
| TOTAL LONG |  |  |  | (1469101) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | (626) | 6/2026 | (205664475) | 5650009 |
| ICE MSCI EAFE Index Contracts (United States) | (141) | 6/2026 | (20452755) | (91692) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (125) | 6/2026 | (9091250) | 114080 |
| TOTAL SHORT |  |  |  | 5672397 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **4203296** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 3.8%. | The notional amount of short futures as a percentage of Net Assets is 3.8%. | The notional amount of short futures as a percentage of Net Assets is 3.8%. | The notional amount of short futures as a percentage of Net Assets is 3.8%. | The notional amount of short futures as a percentage of Net Assets is 3.8%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(e) 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 $17,967,135.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 1028799591 | 409374057 | 197455479 | 21077268 | (1540) | - | 1240716629 | 1240468536 | 2.0% |
| Fidelity Commodity Strategy Central Fund | 42840185 | 18427966 | 3611039 | 625136 | 4630 | 10725748 | 68387490 | 606595 | 12.4% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 70690473 | 25925137 | 4110094 | 4594895 | (365505) | (3148800) | 88991211 | 977174 | 14.7% |
| Fidelity Emerging Markets Equity Central Fund | 197016650 | 30537415 | 34816731 | 2318979 | 2986203 | 18103870 | 213827407 | 709565 | 6.9% |
| Fidelity Floating Rate Central Fund | 41955649 | 5343716 | 31179797 | 1089001 | (1124523) | 551971 | 15547016 | 165429 | 0.8% |
| Fidelity High Income Central Fund | 97246817 | 12625459 | 62855303 | 2458751 | 3886493 | (4313384) | 46590082 | 426025 | 3.2% |
| Fidelity Inflation-Protected Bond Index Central Fund | 109528426 | 19413664 | 7744457 | 3673392 | (50228) | (2499756) | 118647649 | 1318014 | 15.0% |
| Fidelity International Credit Central Fund | 14348774 | 2410984 | 1014728 | 340486 | (78026) | 45900 | 15712904 | 187841 | 15.3% |
| Fidelity International Equity Central Fund | 368735945 | 79607555 | 34012957 | 25198864 | 768714 | (18593579) | 396505678 | 3331980 | 6.0% |
| Fidelity Investment Grade Bond Central Fund | 2324048025 | 505299649 | 206179970 | 54585239 | (3553900) | (24172593) | 2595441211 | 26304259 | 6.0% |
| Fidelity Real Estate Equity Central Fund | 11432277 | 1816687 | 839932 | 141220 | 44219 | 423104 | 12876355 | 91289 | 1.3% |
| Fidelity Securities Lending Cash Central Fund | 9375 | 917 | 10292 | 513 | - | - | - | - | 0.0% |
| Fidelity U.S. Equity Central Fund | 717207010 | 191680227 | 110801954 | 77625259 | 1307109 | (67764314) | 731628078 | 5159214 | 3.6% |
| Total | 5023859197 | 1302463433 | 694632733 | 193729003 | 3823646 | (90641833) | 5544871710 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 55605658 | 1879985 | - | 20725 | - | (3751841) | 53733802 | 1072103 |
| Fidelity Enhanced Large Cap Value ETF | 14156433 | - | - | 128772 | - | 582639 | 14739072 | 422202 |
| Fidelity Enhanced Mid Cap ETF | 21918866 | - | - | 129149 | - | (115203) | 21803663 | 606331 |
| Fidelity Enhanced Small Cap ETF | 67820884 | - | 3724475 | 315850 | 577139 | 2150136 | 66823684 | 1758518 |
| Fidelity Fundamental Small-Mid Cap ETF | 26389978 | - | - | 72277 | - | 2475473 | 28865451 | 903457 |
| Fidelity Hedged Equity ETF | 61007272 | 18110025 | 3153544 | 239451 | 575583 | (3857138) | 72682198 | 2470503 |
| Fidelity Low Duration Bond ETF | 267899531 | - | - | 6239085 | - | (1168304) | 266731227 | 5300837 |
| Fidelity Managed Futures ETF | 14300559 | 14162805 | - | 598345 | - | 2281473 | 30744837 | 535671 |
|  | 529099181 | 34152815 | 6878019 | 7743654 | 1152722 | (1402765) | 556123934 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 2880930073 | 2880930073 | - | - |
|  **Domestic Equity Funds** | 1102284630 | 1102284630 | - | - |
|  **International Equity Funds** | 610333085 | 610333085 | - | - |
|  **Short-Term Funds** | 266731227 | 266731227 | - | - |
|  **U.S. Treasury Obligations** | 17967135 | - | 17967135 | - |
|  **Money Market Funds** | 1240716629 | 1240716629 | - | - |
| **Total Investments in Securities:** | 6118962779 | 6100995644 | 17967135 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 5862744 | 5862744 | - | - |
| Total Assets | 5862744 | 5862744 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (1659448) | (1659448) | - | - |
| Total Liabilities | (1659448) | (1659448) | - | - |
| **Total Derivative Instruments:** | 4203296 | 4203296 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 5764089 | (91692) |
| **Total Equity Risk**  | 5764089 | (91692) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 98655 | (1567756) |
| **Total Interest Rate Risk**  | 98655 | (1567756) |
| **Total Value of Derivatives** | 5862744 | (1659448) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 20%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $17,967,433) | $17967135 |  |
| Fidelity Central Funds (cost $4,873,748,456) | 5544871710 |  |
| Other affiliated issuers (cost $520,482,253) | 556123934 |  |
| Total Investment in Securities (cost $5,412,198,142) |  | $6118962779 |
| Cash |  | 4 |
| Receivable for investments sold |  | 1024916 |
| Receivable for fund shares sold |  | 541673 |
| Dividends receivable |  | 895842 |
| Distributions receivable from Fidelity Central Funds |  | 3862378 |
| Prepaid expenses |  | 1991 |
| **Total assets** |  | 6125289583 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $7118 |  |
| Payable for fund shares redeemed | 1919343 |  |
| Accrued management fee | 2180802 |  |
| Distribution and service plan fees payable | 32857 |  |
| Payable for variation margin on futures contracts | 6536130 |  |
| Other payables and accrued expenses | 56264 |  |
| **Total liabilities** |  | 10732514 |
| **Net Assets**  |  | $6114557069 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $5611932357 |
| Total accumulated earnings (loss) |  | 502624712 |
| **Net Assets** |  | $6114557069 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($52,477,282 ÷ 3,662,497 shares)(a) |  | $14.33 |
| Maximum offering price per share (100/94.25 of $14.33) |  | $15.20 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($30,475,353 ÷ 2,133,301 shares)(a) |  | $14.29 |
| Maximum offering price per share (100/96.50 of $14.29) |  | $14.81 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($10,820,659 ÷ 763,844 shares)(a) |  | $14.17 |
| **Asset Manager 20% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,956,871,393 ÷ 205,945,965 shares) |  | $14.36 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($21,451,287 ÷ 1,493,353 shares) |  | $14.36 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($3,042,461,095 ÷ 212,060,725 shares) |  | $14.35 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $7,743,654 earned from affiliated issuers) |  | $7743654 |
| Interest  |  | 281974 |
| Income from Fidelity Central Funds (including $513 from security lending)  |  | 98570206 |
| **Total income** |  | 106595834 |
| **Expenses** |  |  |
| Management fee | $13587950 |  |
| Distribution and service plan fees | 198948 |  |
| Custodian fees and expenses | 17038 |  |
| Independent trustees' fees and expenses | 6857 |  |
| Registration fees | 83328 |  |
| Audit fees | 16474 |  |
| Legal | 4135 |  |
| Miscellaneous | 9196 |  |
| Total expenses before reductions | 13923926 |  |
| Expense reductions | (880269) |  |
| Total expenses after reductions |  | 13043657 |
| **Net Investment income (loss)** |  | 93552177 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 163 |  |
| Fidelity Central Funds | 3823646 |  |
| Other affiliated issuers | 1152722 |  |
| Futures contracts | 269269 |  |
| Capital gain distributions from Fidelity Central Funds | 95158797 |  |
| Total net realized gain (loss) |  | 100404597 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (913) |  |
| Fidelity Central Funds  | (90641833) |  |
| Other affiliated issuers  | (1402765) |  |
| Futures contracts | 7118070 |  |
| Total change in net unrealized appreciation (depreciation) |  | (84927441) |
| **Net gain (loss)** |  | 15477156 |
| **Net increase (decrease) in net assets resulting from operations** |  | $109029333 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $93552177 | $179009349 |
| &nbsp;&nbsp;Net realized gain (loss) | 100404597<br>| 105497606<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (84927441) | 46804281<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 109029333<br>| 331311236<br>|
| Distributions to shareholders | (99678604)<br>| (181809685)<br>|
| Share transactions - net increase (decrease) | 534815891<br>| 39226833<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 544166620<br>| 188728384<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 5570390449 | 5381662065<br>|
| &nbsp;&nbsp;End of period | $6114557069 | $5570390449 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 20% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.30 | $13.93 | $12.67 | $12.81 | $14.74 | $14.00 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .21  | .41  | .41  | .36  | .23  | .14  |
| Net realized and unrealized gain (loss)  | .04  | .38  | 1.26  | .16  | (1.93)  | .82  |
| Total from investment operations  | .25  | .79  | 1.67  | .52  | (1.70)  | .96  |
| Distributions from net investment income  | (.22)  | (.41)  | (.41)  | (.40)  | (.19)  | (.11)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.22)  | (.42)  | (.41)  | (.66)  | (.23) D | (.22) D |
| Net asset value, end of period  | $14.33 | $14.30 | $13.93 | $12.67 | $12.81 | $14.74 |
| **Total Return** E,F,G | 1.78% <br>| 5.84%  | 13.42%  | 4.07%  | (11.71)%  | 6.91%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .74% J | .75%  | .78%  | .82%  | .81%  | .81%  |
| Expenses net of fee waivers, if any  | .72% J<br>| .73%  | .77%  | .81%  | .81%  | .81%  |
| Expenses net of all reductions, if any  | .72% J | .73%  | .77%  | .81%  | .81%  | .81%  |
| Net investment income (loss)  | 2.85% J | 3.00%  | 3.10%  | 2.80%  | 1.61%  | .97%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $52477 | $50882 | $52099 | $53119 | $56979 | $62957 |
| Portfolio turnover rate K | 21% J<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the sales charges.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 20% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.26 | $13.89 | $12.63 | $12.77 | $14.70 | $13.97 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .38  | .38  | .33  | .19  | .10  |
| Net realized and unrealized gain (loss)  | .05  | .37  | 1.26  | .16  | (1.92)  | .82  |
| Total from investment operations  | .24  | .75  | 1.64  | .49  | (1.73)  | .92  |
| Distributions from net investment income  | (.20)  | (.38)  | (.38)  | (.37)  | (.16)  | (.07)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.21) D | (.38) D | (.38)  | (.63)  | (.20) D | (.19)  |
| Net asset value, end of period  | $14.29 | $14.26 | $13.89 | $12.63 | $12.77 | $14.70 |
| **Total Return** E,F,G | 1.66% <br>| 5.58%  | 13.16%  | 3.84%  | (11.94)%  | 6.60%  |
| **Ratios to Average Net Assets** A,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .99% J | 1.00%  | 1.03%  | 1.06%  | 1.06%  | 1.07%  |
| Expenses net of fee waivers, if any  | .97% J<br>| .98%  | 1.02%  | 1.06%  | 1.06%  | 1.07%  |
| Expenses net of all reductions, if any  | .97% J | .98%  | 1.02%  | 1.06%  | 1.06%  | 1.07%  |
| Net investment income (loss)  | 2.60% J | 2.75%  | 2.85%  | 2.55%  | 1.36%  | .72%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $30475 | $30474 | $28979 | $28202 | $27193 | $31762 |
| Portfolio turnover rate K | 21% J<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

B*Calculated based on average shares outstanding during the period.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the sales charges.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 20% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.14 | $13.77 | $12.53 | $12.67 | $14.61 | $13.91 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .31  | .31  | .26  | .12  | .03  |
| Net realized and unrealized gain (loss)  | .05  | .37  | 1.24  | .16  | (1.92)  | .82  |
| Total from investment operations  | .20  | .68  | 1.55  | .42  | (1.80)  | .85  |
| Distributions from net investment income  | (.17)  | (.31)  | (.31)  | (.30)  | (.11)  | (.03)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.17)  | (.31) D | (.31)  | (.56)  | (.14)  | (.15)  |
| Net asset value, end of period  | $14.17 | $14.14 | $13.77 | $12.53 | $12.67 | $14.61 |
| **Total Return** E,F,G | 1.41% <br>| 5.09%  | 12.52%  | 3.35%  | (12.41)%  | 6.10%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.49% J | 1.50%  | 1.52%  | 1.57%  | 1.57%  | 1.57%  |
| Expenses net of fee waivers, if any  | 1.46% J<br>| 1.48%  | 1.51%  | 1.57%  | 1.57%  | 1.57%  |
| Expenses net of all reductions, if any  | 1.46% J | 1.48%  | 1.51%  | 1.57%  | 1.57%  | 1.57%  |
| Net investment income (loss)  | 2.10% J | 2.25%  | 2.36%  | 2.05%  | .85%  | .22%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $10821 | $11538 | $13991 | $16531 | $19557 | $25804 |
| Portfolio turnover rate K | 21% J<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the contingent deferred sales charge.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 20%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.33 | $13.95 | $12.69 | $12.83 | $14.76 | $14.02 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .23  | .45  | .45  | .40  | .27  | .19  |
| Net realized and unrealized gain (loss)  | .04  | .39  | 1.26  | .16  | (1.93)  | .82  |
| Total from investment operations  | .27  | .84  | 1.71  | .56  | (1.66)  | 1.01  |
| Distributions from net investment income  | (.24)  | (.45)  | (.45)  | (.44)  | (.24)  | (.15)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.24)  | (.46)  | (.45)  | (.70)  | (.27)  | (.27)  |
| Net asset value, end of period  | $14.36 | $14.33 | $13.95 | $12.69 | $12.83 | $14.76 |
| **Total Return** D,E | 1.90% <br>| 6.18%  | 13.74%  | 4.40%  | (11.41)%  | 7.24%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .47% H | .48%  | .49%  | .51%  | .50%  | .50%  |
| Expenses net of fee waivers, if any  | .44% H<br>| .46%  | .48%  | .51%  | .50%  | .50%  |
| Expenses net of all reductions, if any  | .44% H | .46%  | .48%  | .51%  | .50%  | .50%  |
| Net investment income (loss)  | 3.12% H | 3.27%  | 3.39%  | 3.11%  | 1.92%  | 1.29%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2956871 | $3017882 | $3170882 | $3329197 | $3734894 | $4723410 |
| Portfolio turnover rate I | 21% H<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 20% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.34 | $13.96 | $12.69 | $12.83 | $14.76 | $14.02 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .45  | .45  | .40  | .26  | .18  |
| Net realized and unrealized gain (loss)  | .04  | .38  | 1.27  | .15  | (1.93)  | .82  |
| Total from investment operations  | .26  | .83  | 1.72  | .55  | (1.67)  | 1.00  |
| Distributions from net investment income  | (.24)  | (.44)  | (.45)  | (.43)  | (.23)  | (.14)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.24)  | (.45)  | (.45)  | (.69)  | (.26)  | (.26)  |
| Net asset value, end of period  | $14.36 | $14.34 | $13.96 | $12.69 | $12.83 | $14.76 |
| **Total Return** D,E | 1.83% <br>| 6.14%  | 13.76%  | 4.33%  | (11.46)%  | 7.17%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .49% H | .50%  | .52%  | .55%  | .55%  | .55%  |
| Expenses net of fee waivers, if any  | .47% H<br>| .48%  | .51%  | .55%  | .55%  | .55%  |
| Expenses net of all reductions, if any  | .47% H | .48%  | .51%  | .55%  | .55%  | .55%  |
| Net investment income (loss)  | 3.10% H | 3.25%  | 3.36%  | 3.06%  | 1.87%  | 1.24%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $21451 | $17403 | $17984 | $20594 | $28182 | $31374 |
| Portfolio turnover rate I | 21% H<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 20% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.32 | $13.95 | $12.68 | $12.82 | $14.76 | $14.02 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .23  | .46  | .45  | .41  | .27  | .19  |
| Net realized and unrealized gain (loss)  | .05  | .37  | 1.28  | .15  | (1.93)  | .82  |
| Total from investment operations  | .28  | .83  | 1.73  | .56  | (1.66)  | 1.01  |
| Distributions from net investment income  | (.24)  | (.45)  | (.46)  | (.44)  | (.24)  | (.16)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.03)  | (.12)  |
| Total distributions  | (.25) D | (.46)  | (.46)  | (.70)  | (.28) D | (.27) D |
| Net asset value, end of period  | $14.35 | $14.32 | $13.95 | $12.68 | $12.82 | $14.76 |
| **Total Return** E,F | 1.94% <br>| 6.15%  | 13.85%  | 4.42%  | (11.45)%  | 7.27%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .44% I | .45%  | .47%  | .47%  | .47%  | .47%  |
| Expenses net of fee waivers, if any  | .41% I<br>| .42%  | .45%  | .47%  | .47%  | .47%  |
| Expenses net of all reductions, if any  | .41% I | .42%  | .45%  | .47%  | .47%  | .47%  |
| Net investment income (loss)  | 3.15% I | 3.31%  | 3.41%  | 3.14%  | 1.95%  | 1.31%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3042461 | $2442211 | $2097727 | $1785426 | $1566447 | $1485829 |
| Portfolio turnover rate J | 21% I<br>| 31%  | 24%  | 28%  | 22%  | 25%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 30%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 47.5%** | &nbsp;&nbsp;**Bond Funds - 47.5%** | &nbsp;&nbsp;**Bond Funds - 47.5%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 341578 | 31107511 |
| Fidelity Floating Rate Central Fund (c) | 59040 | 5548533 |
| Fidelity High Income Central Fund (c) | 152011 | 16623915 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 464145 | 41782301 |
| Fidelity International Credit Central Fund (c) | 64906 | 5429378 |
| Fidelity Investment Grade Bond Central Fund (c) | 9403236 | 927817283 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $1,086,627,528) |  | **1028308921** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 23.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 23.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 23.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 515787 | 25851244 |
| Fidelity Commodity Strategy Central Fund (c) | 215775 | 24326480 |
| Fidelity Enhanced Large Cap Value ETF (b) | 190780 | 6660130 |
| Fidelity Enhanced Mid Cap ETF (b) | 293548 | 10555986 |
| Fidelity Enhanced Small Cap ETF (b) | 848820 | 32255160 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 439442 | 14040172 |
| Fidelity Hedged Equity ETF (b) | 857097 | 25215794 |
| Fidelity Managed Futures ETF (b) | 195272 | 11207636 |
| Fidelity Real Estate Equity Central Fund (c) | 32708 | 4613480 |
| Fidelity U.S. Equity Central Fund (c) | 2550122 | 361632770 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $289,311,587) |  | **516358852** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 14.3%** | &nbsp;&nbsp;**International Equity Funds - 14.3%** | &nbsp;&nbsp;**International Equity Funds - 14.3%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 335385 | 101068170 |
| Fidelity International Equity Central Fund (c) | 1761847 | 209659744 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $205,952,204) |  | **310727914** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 4.7%** | &nbsp;&nbsp;**Short-Term Funds - 4.7%** | &nbsp;&nbsp;**Short-Term Funds - 4.7%** |
|  | Shares | Value ($)<br>|
| Fidelity Low Duration Bond ETF (b)(d)<br>(Cost $102,291,436)<br>| 2040024 | **102651356** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.3%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/16/2026 (f) | 3.60 | 1130000 | 1128293 |
| US Treasury Bills 0% 4/2/2026 (f) | 3.56 to 3.58 | 1440000 | 1439855 |
| US Treasury Bills 0% 4/30/2026 (f) | 3.61 | 240000 | 239298 |
| US Treasury Bills 0% 4/9/2026 (f) | 3.54 | 2530000 | 2527970 |
| US Treasury Bills 0% 5/21/2026 (f) | 3.64 | 240000 | 238791 |
| US Treasury Bills 0% 5/28/2026 (f) | 3.62 | 30000 | 29826 |
| US Treasury Bills 0% 5/7/2026 (f) | 3.62 | 140000 | 139490 |
| US Treasury Bills 0% 6/25/2026 (f) | 3.62 to 3.65 | 430000 | 426358 |
| US Treasury Bills 0% 6/4/2026 (f) | 3.63 | 90000 | 89422 |
| US Treasury Bills 0% 7/2/2026 (f) | 3.64 | 240000 | 237790 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $6,497,192) |  |  | **6497093** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 9.5%** | &nbsp;&nbsp;**Money Market Funds - 9.5%** | &nbsp;&nbsp;**Money Market Funds - 9.5%** | &nbsp;&nbsp;**Money Market Funds - 9.5%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 3.69 | 205105387 | 205146408 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 159634 | 159650 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $205,306,058) |  |  | **205306058** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $1,895,986,005)<br>| <br>**2169850194** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(3013763)** |
| **NET ASSETS - 100.0%** | **2166836431** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 289 | 6/2026 | 32079000 | (549190) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 93 | 6/2026 | 10817063 | 35185 |
| TOTAL LONG |  |  |  | (514005) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | (210) | 6/2026 | (68992875) | 1897169 |
| ICE MSCI EAFE Index Contracts (United States) | (136) | 6/2026 | (19727480) | (83964) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (44) | 6/2026 | (3200120) | 40156 |
| TOTAL SHORT |  |  |  | 1853361 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **1339356** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 4.2%. | The notional amount of short futures as a percentage of Net Assets is 4.2%. | The notional amount of short futures as a percentage of Net Assets is 4.2%. | The notional amount of short futures as a percentage of Net Assets is 4.2%. | The notional amount of short futures as a percentage of Net Assets is 4.2%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(f) 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 $6,497,093.

(g) 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.

(h) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 161145784 | 108879772 | 64879186 | 3080711 | 38 | - | 205146408 | 205105387 | 0.3% |
| Fidelity Commodity Strategy Central Fund | 15535021 | 5939329 | 940707 | 224696 | (53599) | 3846436 | 24326480 | 215775 | 4.4% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 25654408 | 8216338 | 1503448 | 1680785 | (133700) | (1126087) | 31107511 | 341578 | 5.1% |
| Fidelity Emerging Markets Equity Central Fund | 105970885 | 10479982 | 26626465 | 1235576 | 4780080 | 6463688 | 101068170 | 335385 | 3.2% |
| Fidelity Floating Rate Central Fund | 15101526 | 1407437 | 10757982 | 389419 | (407916) | 205468 | 5548533 | 59040 | 0.3% |
| Fidelity High Income Central Fund | 35283693 | 3280141 | 21787185 | 881420 | 1113667 | (1266401) | 16623915 | 152011 | 1.2% |
| Fidelity Inflation-Protected Bond Index Central Fund | 39742094 | 5103457 | 2131187 | 1323793 | (4481) | (927582) | 41782301 | 464145 | 5.3% |
| Fidelity International Credit Central Fund | 5100931 | 617698 | 278765 | 120384 | (27726) | 17240 | 5429378 | 64906 | 5.3% |
| Fidelity International Equity Central Fund | 201467014 | 32232311 | 14300845 | 13635537 | 128512 | (9867248) | 209659744 | 1761847 | 3.2% |
| Fidelity Investment Grade Bond Central Fund | 846658597 | 149009189 | 58030447 | 19508456 | 31513 | (9851569) | 927817283 | 9403236 | 2.1% |
| Fidelity Real Estate Equity Central Fund | 4228200 | 458239 | 234373 | 51736 | 4067 | 157347 | 4613480 | 32708 | 0.5% |
| Fidelity Securities Lending Cash Central Fund | 802125 | 7027597 | 7670065 | 59940 | (7) | - | 159650 | 159634 | 0.0% |
| Fidelity U.S. Equity Central Fund | 351456813 | 76937128 | 34287467 | 37654608 | 269774 | (32743478) | 361632770 | 2550122 | 1.8% |
| Total | 1808147091 | 409588618 | 243428122 | 79847061 | 5700222 | (45092186) | 1934915623 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 27208893 | 883663 | 447279 | 10141 | 71440 | (1865473) | 25851244 | 515787 |
| Fidelity Enhanced Large Cap Value ETF | 6605142 | - | 223741 | 59082 | 34598 | 244131 | 6660130 | 190780 |
| Fidelity Enhanced Mid Cap ETF | 10829094 | - | 221709 | 63163 | 24256 | (75655) | 10555986 | 293548 |
| Fidelity Enhanced Small Cap ETF | 33096196 | - | 2196001 | 153284 | 353968 | 1000997 | 32255160 | 848820 |
| Fidelity Fundamental Small-Mid Cap ETF | 13036394 | - | 221344 | 35430 | 33207 | 1191915 | 14040172 | 439442 |
| Fidelity Hedged Equity ETF | 22455981 | 5202424 | 1292663 | 84853 | 236627 | (1386575) | 25215794 | 857097 |
| Fidelity Low Duration Bond ETF | 103100977 | - | - | 2401108 | - | (449621) | 102651356 | 2040024 |
| Fidelity Managed Futures ETF | 5193877 | 5182661 | - | 218119 | - | 831098 | 11207636 | 195272 |
|  | 221526554 | 11268748 | 4602737 | 3025180 | 754096 | (509183) | 228437478 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 1028308921 | 1028308921 | - | - |
|  **Domestic Equity Funds** | 516358852 | 516358852 | - | - |
|  **International Equity Funds** | 310727914 | 310727914 | - | - |
|  **Short-Term Funds** | 102651356 | 102651356 | - | - |
|  **U.S. Treasury Obligations** | 6497093 | - | 6497093 | - |
|  **Money Market Funds** | 205306058 | 205306058 | - | - |
| **Total Investments in Securities:** | 2169850194 | 2163353101 | 6497093 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 1972510 | 1972510 | - | - |
| Total Assets | 1972510 | 1972510 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (633154) | (633154) | - | - |
| Total Liabilities | (633154) | (633154) | - | - |
| **Total Derivative Instruments:** | 1339356 | 1339356 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 1937325 | (83964) |
| **Total Equity Risk**  | 1937325 | (83964) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 35185 | (549190) |
| **Total Interest Rate Risk**  | 35185 | (549190) |
| **Total Value of Derivatives** | 1972510 | (633154) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 30%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $155,988) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $6,497,192) | $6497093 |  |
| Fidelity Central Funds (cost $1,676,757,244) | 1934915623 |  |
| Other affiliated issuers (cost $212,731,569) | 228437478 |  |
| Total Investment in Securities (cost $1,895,986,005) |  | $2169850194 |
| Cash |  | 2968 |
| Receivable for investments sold |  | 1856340 |
| Receivable for fund shares sold |  | 658112 |
| Dividends receivable |  | 344764 |
| Distributions receivable from Fidelity Central Funds |  | 618726 |
| Prepaid expenses |  | 721 |
| **Total assets** |  | 2173331825 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $26517 |  |
| Payable for fund shares redeemed | 2840241 |  |
| Accrued management fee | 799339 |  |
| Distribution and service plan fees payable | 36160 |  |
| Payable for variation margin on futures contracts | 2599949 |  |
| Other payables and accrued expenses | 33538 |  |
| Collateral on securities loaned | 159650 |  |
| **Total liabilities** |  | 6495394 |
| **Net Assets**  |  | $2166836431 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1895522388 |
| Total accumulated earnings (loss) |  | 271314043 |
| **Net Assets** |  | $2166836431 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($71,674,958 ÷ 5,612,632 shares)(a) |  | $12.77 |
| Maximum offering price per share (100/94.25 of $12.77) |  | $13.55 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($21,380,349 ÷ 1,679,253 shares)(a) |  | $12.73 |
| Maximum offering price per share (100/96.50 of $12.73) |  | $13.19 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($14,324,554 ÷ 1,137,710 shares)(a) |  | $12.59 |
| **Asset Manager 30% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,305,201,268 ÷ 102,288,498 shares) |  | $12.76 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($21,170,440 ÷ 1,658,656 shares) |  | $12.76 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($733,084,862 ÷ 57,479,906 shares) |  | $12.75 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $3,025,180 earned from affiliated issuers) |  | $3025180 |
| Interest  |  | 102765 |
| Income from Fidelity Central Funds (including $59,940 from security lending)  |  | 32641451 |
| **Total income** |  | 35769396 |
| **Expenses** |  |  |
| Management fee | $5084193 |  |
| Distribution and service plan fees | 221801 |  |
| Custodian fees and expenses | 17177 |  |
| Independent trustees' fees and expenses | 2466 |  |
| Registration fees | 52976 |  |
| Audit fees | 16365 |  |
| Legal | 1508 |  |
| Miscellaneous | 3310 |  |
| Total expenses before reductions | 5399796 |  |
| Expense reductions | (369813) |  |
| Total expenses after reductions |  | 5029983 |
| **Net Investment income (loss)** |  | 30739413 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 5 |  |
| Fidelity Central Funds | 5700222 |  |
| Other affiliated issuers | 754096 |  |
| Futures contracts | (1148126) |  |
| Capital gain distributions from Fidelity Central Funds | 47205610 |  |
| Total net realized gain (loss) |  | 52511807 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (364) |  |
| Fidelity Central Funds  | (45092186) |  |
| Other affiliated issuers  | (509183) |  |
| Futures contracts | 2316870 |  |
| Total change in net unrealized appreciation (depreciation) |  | (43284863) |
| **Net gain (loss)** |  | 9226944 |
| **Net increase (decrease) in net assets resulting from operations** |  | $39966357 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $30739413 | $59352923 |
| &nbsp;&nbsp;Net realized gain (loss) | 52511807<br>| 61932181<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (43284863) | 20097198<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 39966357<br>| 141382302<br>|
| Distributions to shareholders | (33494151)<br>| (61296533)<br>|
| Share transactions - net increase (decrease) | 125896504<br>| (95748187)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 132368710<br>| (15662418)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 2034467721 | 2050130139<br>|
| &nbsp;&nbsp;End of period | $2166836431 | $2034467721 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 30% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.73 | $12.22 | $10.84 | $10.80 | $12.77 | $11.80 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .33  | .31  | .28  | .20  | .14  |
| Net realized and unrealized gain (loss)  | .06  | .52  | 1.38  | .33  | (1.95)  | 1.03  |
| Total from investment operations  | .23  | .85  | 1.69  | .61  | (1.75)  | 1.17  |
| Distributions from net investment income  | (.18)  | (.33)  | (.31)  | (.31)  | (.18)  | (.09)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.19) D | (.34)  | (.31)  | (.57)  | (.22)  | (.20)  |
| Net asset value, end of period  | $12.77 | $12.73 | $12.22 | $10.84 | $10.80 | $12.77 |
| **Total Return** E,F,G | 1.78% <br>| 7.15%  | 15.84%  | 5.74%  | (13.89)%  | 9.98%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .76% J | .77%  | .79%  | .82%  | .82%  | .82%  |
| Expenses net of fee waivers, if any  | .73% J<br>| .74%  | .78%  | .82%  | .82%  | .82%  |
| Expenses net of all reductions, if any  | .73% J | .74%  | .78%  | .82%  | .82%  | .82%  |
| Net investment income (loss)  | 2.61% J | 2.73%  | 2.71%  | 2.51%  | 1.66%  | 1.10%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $71675 | $74205 | $73906 | $69350 | $71633 | $77502 |
| Portfolio turnover rate K | 18% J<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the sales charges.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 30% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.69 | $12.19 | $10.81 | $10.77 | $12.75 | $11.77 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .30  | .28  | .25  | .17  | .11  |
| Net realized and unrealized gain (loss)  | .06  | .51  | 1.38  | .34  | (1.95)  | 1.04  |
| Total from investment operations  | .21  | .81  | 1.66  | .59  | (1.78)  | 1.15  |
| Distributions from net investment income  | (.17)  | (.30)  | (.28)  | (.29)  | (.15)  | (.07)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.17)  | (.31)  | (.28)  | (.55)  | (.20) D | (.17) D |
| Net asset value, end of period  | $12.73 | $12.69 | $12.19 | $10.81 | $10.77 | $12.75 |
| **Total Return** E,F,G | 1.68% <br>| 6.83%  | 15.59%  | 5.49%  | (14.20)%  | 9.84%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.01% J | 1.02%  | 1.05%  | 1.07%  | 1.08%  | 1.08%  |
| Expenses net of fee waivers, if any  | .98% J<br>| .99%  | 1.04%  | 1.07%  | 1.08%  | 1.08%  |
| Expenses net of all reductions, if any  | .98% J | .99%  | 1.04%  | 1.07%  | 1.08%  | 1.08%  |
| Net investment income (loss)  | 2.36% J | 2.48%  | 2.46%  | 2.26%  | 1.41%  | .84%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $21380 | $21680 | $22776 | $21274 | $22364 | $26218 |
| Portfolio turnover rate K | 18% J<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the sales charges.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 30% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.56 | $12.06 | $10.70 | $10.66 | $12.64 | $11.71 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .24  | .22  | .19  | .11  | .04  |
| Net realized and unrealized gain (loss)  | .05  | .51  | 1.37  | .34  | (1.94)  | 1.03  |
| Total from investment operations  | .17  | .75  | 1.59  | .53  | (1.83)  | 1.07  |
| Distributions from net investment income  | (.14)  | (.24)  | (.23)  | (.23)  | (.11)  | (.03)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.14)  | (.25)  | (.23)  | (.49)  | (.15)  | (.14)  |
| Net asset value, end of period  | $12.59 | $12.56 | $12.06 | $10.70 | $10.66 | $12.64 |
| **Total Return** D,E,F | 1.38% <br>| 6.39%  | 14.98%  | 5.00%  | (14.62)%  | 9.17%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.51% I | 1.52%  | 1.54%  | 1.58%  | 1.58%  | 1.59%  |
| Expenses net of fee waivers, if any  | 1.48% I<br>| 1.49%  | 1.53%  | 1.58%  | 1.58%  | 1.59%  |
| Expenses net of all reductions, if any  | 1.48% I | 1.49%  | 1.53%  | 1.58%  | 1.58%  | 1.59%  |
| Net investment income (loss)  | 1.86% I | 1.98%  | 1.96%  | 1.74%  | .90%  | .33%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $14325 | $15259 | $18592 | $20534 | $24169 | $31949 |
| Portfolio turnover rate J | 18% I<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the contingent deferred sales charge.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 30%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.72 | $12.21 | $10.83 | $10.79 | $12.77 | $11.79 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .36  | .35  | .31  | .24  | .18  |
| Net realized and unrealized gain (loss)  | .05  | .53  | 1.38  | .34  | (1.96)  | 1.04  |
| Total from investment operations  | .24  | .89  | 1.73  | .65  | (1.72)  | 1.22  |
| Distributions from net investment income  | (.20)  | (.37)  | (.35)  | (.35)  | (.22)  | (.14)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.20)  | (.38)  | (.35)  | (.61)  | (.26)  | (.24) D |
| Net asset value, end of period  | $12.76 | $12.72 | $12.21 | $10.83 | $10.79 | $12.77 |
| **Total Return** E,F | 1.90% <br>| 7.47%  | 16.20%  | 6.07%  | (13.71)%  | 10.43%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .49% I | .50%  | .50%  | .52%  | .52%  | .52%  |
| Expenses net of fee waivers, if any  | .46% I<br>| .47%  | .49%  | .52%  | .51%  | .52%  |
| Expenses net of all reductions, if any  | .46% I | .47%  | .49%  | .52%  | .51%  | .52%  |
| Net investment income (loss)  | 2.88% I | 3.00%  | 3.00%  | 2.80%  | 1.97%  | 1.40%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1305201 | $1315525 | $1375227 | $1418966 | $1625346 | $2196582 |
| Portfolio turnover rate J | 18% I<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 30% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.72 | $12.21 | $10.84 | $10.79 | $12.77 | $11.79 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .36  | .34  | .30  | .24  | .17  |
| Net realized and unrealized gain (loss)  | .06  | .52  | 1.37  | .35  | (1.96)  | 1.05  |
| Total from investment operations  | .24  | .88  | 1.71  | .65  | (1.72)  | 1.22  |
| Distributions from net investment income  | (.20)  | (.36)  | (.34)  | (.34)  | (.21)  | (.13)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.20)  | (.37)  | (.34)  | (.60)  | (.26) D | (.24)  |
| Net asset value, end of period  | $12.76 | $12.72 | $12.21 | $10.84 | $10.79 | $12.77 |
| **Total Return** E,F | 1.90% <br>| 7.44%  | 16.02%  | 6.10%  | (13.75)%  | 10.41%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .51% I | .52%  | .54%  | .58%  | .54%  | .55%  |
| Expenses net of fee waivers, if any  | .48% I<br>| .49%  | .53%  | .58%  | .54%  | .54%  |
| Expenses net of all reductions, if any  | .48% I | .49%  | .53%  | .58%  | .54%  | .54%  |
| Net investment income (loss)  | 2.86% I | 2.98%  | 2.97%  | 2.75%  | 1.94%  | 1.37%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $21170 | $21002 | $17976 | $24322 | $30027 | $76079 |
| Portfolio turnover rate J | 18% I<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 30% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.71 | $12.21 | $10.83 | $10.79 | $12.77 | $11.79 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .37  | .35  | .31  | .24  | .18  |
| Net realized and unrealized gain (loss)  | .06  | .51  | 1.38  | .34  | (1.96)  | 1.04  |
| Total from investment operations  | .25  | .88  | 1.73  | .65  | (1.72)  | 1.22  |
| Distributions from net investment income  | (.20)  | (.37)  | (.35)  | (.35)  | (.22)  | (.14)  |
| Distributions from net realized gain  | - C | (.01)  | -  | (.26)  | (.04)  | (.11)  |
| Total distributions  | (.21) D | (.38)  | (.35)  | (.61)  | (.26)  | (.24) D |
| Net asset value, end of period  | $12.75 | $12.71 | $12.21 | $10.83 | $10.79 | $12.77 |
| **Total Return** E,F | 1.94% <br>| 7.41%  | 16.27%  | 6.10%  | (13.69)%  | 10.44%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .46% I | .47%  | .49%  | .49%  | .49%  | .49%  |
| Expenses net of fee waivers, if any  | .42% I<br>| .44%  | .47%  | .49%  | .49%  | .49%  |
| Expenses net of all reductions, if any  | .42% I | .44%  | .47%  | .49%  | .49%  | .49%  |
| Net investment income (loss)  | 2.92% I | 3.03%  | 3.02%  | 2.84%  | 2.00%  | 1.43%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $733085 | $586797 | $541653 | $434359 | $399817 | $474155 |
| Portfolio turnover rate J | 18% I<br>| 24%  | 19%  | 22%  | 23%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 40%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 42.6%** | &nbsp;&nbsp;**Bond Funds - 42.6%** | &nbsp;&nbsp;**Bond Funds - 42.6%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 411202 | 37448139 |
| Fidelity Floating Rate Central Fund (c) | 71601 | 6729023 |
| Fidelity High Income Central Fund (c) | 184324 | 20157647 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 555617 | 50016632 |
| Fidelity International Credit Central Fund (c) | 75961 | 6354132 |
| Fidelity Investment Grade Bond Central Fund (c) | 10063082 | 992924346 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $1,170,378,610) |  | **1113629919** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 29.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 29.8%** | &nbsp;&nbsp;**Domestic Equity Funds - 29.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 799553 | 40073596 |
| Fidelity Commodity Strategy Central Fund (c) | 260417 | 29359420 |
| Fidelity Enhanced Large Cap Value ETF (b) | 291794 | 10186528 |
| Fidelity Enhanced Mid Cap ETF (b) | 449808 | 16175096 |
| Fidelity Enhanced Small Cap ETF (b) | 1325372 | 50364136 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 651067 | 20801591 |
| Fidelity Hedged Equity ETF (b) | 1032882 | 30387389 |
| Fidelity Managed Futures ETF (b) | 230522 | 13230810 |
| Fidelity Real Estate Equity Central Fund (c) | 39281 | 5540624 |
| Fidelity U.S. Equity Central Fund (c) | 3956833 | 561118454 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $437,448,135) |  | **777237644** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 18.4%** | &nbsp;&nbsp;**International Equity Funds - 18.4%** | &nbsp;&nbsp;**International Equity Funds - 18.4%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 506980 | 152778275 |
| Fidelity International Equity Central Fund (c) | 2748412 | 327061060 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $321,640,405) |  | **479839335** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** |
|  | Yield (%) (d) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/16/2026 (e) | 3.60 | 1490000 | 1487749 |
| US Treasury Bills 0% 4/2/2026 (e) | 3.58 | 1910000 | 1909807 |
| US Treasury Bills 0% 4/30/2026 (e) | 3.61 | 490000 | 488567 |
| US Treasury Bills 0% 4/9/2026 (e) | 3.54 | 2690000 | 2687842 |
| US Treasury Bills 0% 5/14/2026 (e) | 3.62 | 20000 | 19913 |
| US Treasury Bills 0% 5/21/2026 (e) | 3.63 | 20000 | 19899 |
| US Treasury Bills 0% 5/28/2026 (e) | 3.62 | 30000 | 29827 |
| US Treasury Bills 0% 5/7/2026 (e) | 3.62 | 400000 | 398543 |
| US Treasury Bills 0% 6/25/2026 (e) | 3.62 to 3.65 | 470000 | 466019 |
| US Treasury Bills 0% 7/2/2026 (e) | 3.64 | 290000 | 287330 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $7,795,621) |  |  | **7795496** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 9.1%** | &nbsp;&nbsp;**Money Market Funds - 9.1%** | &nbsp;&nbsp;**Money Market Funds - 9.1%** | &nbsp;&nbsp;**Money Market Funds - 9.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $236,489,693)<br>| 3.69 | 236442405 | **236489693** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $2,173,752,464)<br>| <br>**2614992087** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(3614104)** |
| **NET ASSETS - 100.0%** | **2611377983** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 344 | 6/2026 | 38184000 | (653707) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 111 | 6/2026 | 12910688 | 41884 |
| TOTAL LONG |  |  |  | (611823) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | (245) | 6/2026 | (80491688) | 2211658 |
| ICE MSCI EAFE Index Contracts (United States) | (202) | 6/2026 | (29301110) | (122206) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (53) | 6/2026 | (3854690) | 48370 |
| TOTAL SHORT |  |  |  | 2137822 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **1525999** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(e) 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 $7,795,496.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 205555673 | 99927615 | 68994331 | 3732957 | 736 | - | 236489693 | 236442405 | 0.4% |
| Fidelity Commodity Strategy Central Fund | 18318409 | 6903858 | 365083 | 270201 | 16918 | 4485318 | 29359420 | 260417 | 5.3% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 29580498 | 11210202 | 1809895 | 2023378 | (160952) | (1371714) | 37448139 | 411202 | 6.2% |
| Fidelity Emerging Markets Equity Central Fund | 144787965 | 12617420 | 19295505 | 1725879 | 2226363 | 12442032 | 152778275 | 506980 | 4.9% |
| Fidelity Floating Rate Central Fund | 17622677 | 1417872 | 12071155 | 463734 | (465148) | 224777 | 6729023 | 71601 | 0.3% |
| Fidelity High Income Central Fund | 41610179 | 3217267 | 24483164 | 1054924 | 1500421 | (1687056) | 20157647 | 184324 | 1.4% |
| Fidelity Inflation-Protected Bond Index Central Fund | 46869677 | 5082573 | 806133 | 1587597 | (1989) | (1127496) | 50016632 | 555617 | 6.3% |
| Fidelity International Credit Central Fund | 5874672 | 600273 | 105521 | 140598 | (8153) | (7139) | 6354132 | 75961 | 6.2% |
| Fidelity International Equity Central Fund | 310611847 | 43756379 | 11603100 | 21485187 | (414407) | (15289659) | 327061060 | 2748412 | 5.0% |
| Fidelity Investment Grade Bond Central Fund | 882631753 | 144781333 | 23924560 | 20644402 | (174352) | (10389828) | 992924346 | 10063082 | 2.3% |
| Fidelity Real Estate Equity Central Fund | 4994869 | 446614 | 87068 | 62715 | 233 | 185976 | 5540624 | 39281 | 0.6% |
| Fidelity U.S. Equity Central Fund | 534129320 | 105531140 | 27397091 | 58586990 | (969415) | (50175500) | 561118454 | 3956833 | 2.8% |
| Total | 2242587539 | 435492546 | 190942606 | 111778562 | 1550255 | (62710289) | 2425977445 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 40700895 | 2662055 | 534069 | 15170 | 85303 | (2840588) | 40073596 | 799553 |
| Fidelity Enhanced Large Cap Value ETF | 10032578 | - | 267178 | 90066 | 41315 | 379813 | 10186528 | 291794 |
| Fidelity Enhanced Mid Cap ETF | 15998002 | 530599 | 264746 | 95039 | 26070 | (114829) | 16175096 | 449808 |
| Fidelity Enhanced Small Cap ETF | 49185960 | - | 792982 | 233618 | 141060 | 1830098 | 50364136 | 1325372 |
| Fidelity Fundamental Small-Mid Cap ETF | 19256809 | - | 264276 | 52413 | 39648 | 1769410 | 20801591 | 651067 |
| Fidelity Hedged Equity ETF | 25394266 | 6390662 | - | 102255 | - | (1397539) | 30387389 | 1032882 |
| Fidelity Managed Futures ETF | 5975747 | 6278677 | - | 257493 | - | 976386 | 13230810 | 230522 |
|  | 166544257 | 15861993 | 2123251 | 846054 | 333396 | 602751 | 181219146 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 1113629919 | 1113629919 | - | - |
|  **Domestic Equity Funds** | 777237644 | 777237644 | - | - |
|  **International Equity Funds** | 479839335 | 479839335 | - | - |
|  **U.S. Treasury Obligations** | 7795496 | - | 7795496 | - |
|  **Money Market Funds** | 236489693 | 236489693 | - | - |
| **Total Investments in Securities:** | 2614992087 | 2607196591 | 7795496 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 2301912 | 2301912 | - | - |
| Total Assets | 2301912 | 2301912 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (775913) | (775913) | - | - |
| Total Liabilities | (775913) | (775913) | - | - |
| **Total Derivative Instruments:** | 1525999 | 1525999 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 2260028 | (122206) |
| **Total Equity Risk**  | 2260028 | (122206) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 41884 | (653707) |
| **Total Interest Rate Risk**  | 41884 | (653707) |
| **Total Value of Derivatives** | 2301912 | (775913) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 40%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $7,795,621) | $7795496 |  |
| Fidelity Central Funds (cost $2,006,404,352) | 2425977445 |  |
| Other affiliated issuers (cost $159,552,491) | 181219146 |  |
| Total Investment in Securities (cost $2,173,752,464) |  | $2614992087 |
| Cash |  | 2 |
| Receivable for investments sold |  | 291892 |
| Receivable for fund shares sold |  | 1227459 |
| Distributions receivable from Fidelity Central Funds |  | 707290 |
| Prepaid expenses |  | 834 |
| **Total assets** |  | 2617219564 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $5014 |  |
| Payable for fund shares redeemed | 1550073 |  |
| Accrued management fee | 969722 |  |
| Distribution and service plan fees payable | 36820 |  |
| Payable for variation margin on futures contracts | 3233829 |  |
| Other payables and accrued expenses | 46123 |  |
| **Total liabilities** |  | 5841581 |
| **Net Assets**  |  | $2611377983 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $2135797153 |
| Total accumulated earnings (loss) |  | 475580830 |
| **Net Assets** |  | $2611377983 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($81,386,016 ÷ 5,789,471 shares)(a) |  | $14.06 |
| Maximum offering price per share (100/94.25 of $14.06) |  | $14.92 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($17,219,753 ÷ 1,227,346 shares)(a) |  | $14.03 |
| Maximum offering price per share (100/96.50 of $14.03) |  | $14.54 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($14,627,055 ÷ 1,047,133 shares)(a) |  | $13.97 |
| **Asset Manager 40% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,736,881,057 ÷ 123,597,431 shares) |  | $14.05 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($38,668,767 ÷ 2,750,075 shares) |  | $14.06 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($722,595,335 ÷ 51,426,920 shares) |  | $14.05 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $846,054 earned from affiliated issuers) |  | $846054 |
| Interest  |  | 118464 |
| Income from Fidelity Central Funds  |  | 38481154 |
| **Total income** |  | 39445672 |
| **Expenses** |  |  |
| Management fee | $6062903 |  |
| Distribution and service plan fees | 222824 |  |
| Custodian fees and expenses | 16538 |  |
| Independent trustees' fees and expenses | 2945 |  |
| Registration fees | 85091 |  |
| Audit fees | 16377 |  |
| Legal | 1812 |  |
| Miscellaneous | 3887 |  |
| Total expenses before reductions | 6412377 |  |
| Expense reductions | (370718) |  |
| Total expenses after reductions |  | 6041659 |
| **Net Investment income (loss)** |  | 33404013 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (28) |  |
| Fidelity Central Funds | 1550255 |  |
| Other affiliated issuers | 333396 |  |
| Futures contracts | (94623) |  |
| Capital gain distributions from Fidelity Central Funds | 73297408 |  |
| Total net realized gain (loss) |  | 75086408 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (357) |  |
| Fidelity Central Funds  | (62710289) |  |
| Other affiliated issuers  | 602751 |  |
| Futures contracts | 2548547 |  |
| Total change in net unrealized appreciation (depreciation) |  | (59559348) |
| **Net gain (loss)** |  | 15527060 |
| **Net increase (decrease) in net assets resulting from operations** |  | $48931073 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $33404013 | $61665067 |
| &nbsp;&nbsp;Net realized gain (loss) | 75086408<br>| 88441617<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (59559348) | 41706569<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 48931073<br>| 191813253<br>|
| Distributions to shareholders | (71078456)<br>| (63085972)<br>|
| Share transactions - net increase (decrease) | 218694002<br>| (29852609)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 196546619<br>| 98874672<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 2414831364 | 2315956692<br>|
| &nbsp;&nbsp;End of period | $2611377983 | $2414831364 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 40% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.17 | $13.40 | $11.64 | $11.46 | $13.85 | $12.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .33  | .30  | .27  | .22  | .15  |
| Net realized and unrealized gain (loss)  | .10  | .78  | 1.76  | .58  | (2.32)  | 1.47  |
| Total from investment operations  | .27  | 1.11  | 2.06  | .85  | (2.10)  | 1.62  |
| Distributions from net investment income  | (.20)  | (.32)  | (.30)  | (.30)  | (.18)  | (.12)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.38)  | (.34) C | (.30)  | (.67)  | (.29)  | (.26) C |
| Net asset value, end of period  | $14.06 | $14.17 | $13.40 | $11.64 | $11.46 | $13.85 |
| **Total Return** D,E,F | 1.90% <br>| 8.48%  | 17.89%  | 7.60%  | (15.47)%  | 13.06%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .76% I | .77%  | .80%  | .83%  | .82%  | .82%  |
| Expenses net of fee waivers, if any  | .73% I<br>| .75%  | .79%  | .82%  | .82%  | .82%  |
| Expenses net of all reductions, if any  | .73% I | .75%  | .79%  | .82%  | .82%  | .82%  |
| Net investment income (loss)  | 2.34% I | 2.45%  | 2.40%  | 2.24%  | 1.72%  | 1.08%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $81386 | $86099 | $80835 | $69848 | $69848 | $74272 |
| Portfolio turnover rate J | 11% I<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 40% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.14 | $13.38 | $11.62 | $11.45 | $13.83 | $12.47 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .29  | .27  | .24  | .19  | .11  |
| Net realized and unrealized gain (loss)  | .10  | .77  | 1.76  | .58  | (2.31)  | 1.47  |
| Total from investment operations  | .25  | 1.06  | 2.03  | .82  | (2.12)  | 1.58  |
| Distributions from net investment income  | (.18)  | (.29)  | (.27)  | (.28)  | (.15)  | (.09)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.36)  | (.30)  | (.27)  | (.65)  | (.26)  | (.22)  |
| Net asset value, end of period  | $14.03 | $14.14 | $13.38 | $11.62 | $11.45 | $13.83 |
| **Total Return** C,D,E | 1.78% <br>| 8.13%  | 17.65%  | 7.28%  | (15.63)%  | 12.80%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.01% H | 1.02%  | 1.04%  | 1.07%  | 1.06%  | 1.06%  |
| Expenses net of fee waivers, if any  | .98% H<br>| 1.00%  | 1.04%  | 1.06%  | 1.06%  | 1.06%  |
| Expenses net of all reductions, if any  | .98% H | 1.00%  | 1.04%  | 1.06%  | 1.06%  | 1.06%  |
| Net investment income (loss)  | 2.09% H | 2.20%  | 2.16%  | 2.01%  | 1.48%  | .84%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $17220 | $14552 | $15370 | $13020 | $12231 | $14809 |
| Portfolio turnover rate I | 11% H<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 40% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.08 | $13.31 | $11.56 | $11.39 | $13.77 | $12.42 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .22  | .21  | .17  | .12  | .04  |
| Net realized and unrealized gain (loss)  | .10  | .78  | 1.74  | .58  | (2.30)  | 1.47  |
| Total from investment operations  | .21  | 1.00  | 1.95  | .75  | (2.18)  | 1.51  |
| Distributions from net investment income  | (.14)  | (.22)  | (.20)  | (.21)  | (.09)  | (.03)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.32)  | (.23)  | (.20)  | (.58)  | (.20)  | (.16)  |
| Net asset value, end of period  | $13.97 | $14.08 | $13.31 | $11.56 | $11.39 | $13.77 |
| **Total Return** C,D,E | 1.50% <br>| 7.68%  | 17.03%  | 6.70%  | (16.07)%  | 12.24%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.51% H | 1.52%  | 1.55%  | 1.59%  | 1.59%  | 1.59%  |
| Expenses net of fee waivers, if any  | 1.48% H<br>| 1.50%  | 1.54%  | 1.59%  | 1.59%  | 1.59%  |
| Expenses net of all reductions, if any  | 1.48% H | 1.50%  | 1.54%  | 1.59%  | 1.59%  | 1.59%  |
| Net investment income (loss)  | 1.59% H | 1.69%  | 1.65%  | 1.48%  | .95%  | .31%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $14627 | $16137 | $18398 | $17576 | $19517 | $26841 |
| Portfolio turnover rate I | 11% H<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the contingent deferred sales charge.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 40%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.17 | $13.40 | $11.64 | $11.46 | $13.85 | $12.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .36  | .34  | .30  | .26  | .19  |
| Net realized and unrealized gain (loss)  | .09  | .78  | 1.75  | .59  | (2.32)  | 1.46  |
| Total from investment operations  | .28  | 1.14  | 2.09  | .89  | (2.06)  | 1.65  |
| Distributions from net investment income  | (.22)  | (.36)  | (.33)  | (.34)  | (.22)  | (.16)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.40)  | (.37)  | (.33)  | (.71)  | (.33)  | (.29)  |
| Net asset value, end of period  | $14.05 | $14.17 | $13.40 | $11.64 | $11.46 | $13.85 |
| **Total Return** C,D | 1.99% <br>| 8.77%  | 18.24%  | 7.95%  | (15.21)%  | 13.38%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .49% G | .50%  | .51%  | .53%  | .52%  | .52%  |
| Expenses net of fee waivers, if any  | .46% G<br>| .48%  | .51%  | .52%  | .52%  | .51%  |
| Expenses net of all reductions, if any  | .46% G | .48%  | .51%  | .52%  | .52%  | .51%  |
| Net investment income (loss)  | 2.61% G | 2.72%  | 2.69%  | 2.55%  | 2.02%  | 1.39%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1736881 | $1611488 | $1544767 | $1427453 | $1515043 | $1829755 |
| Portfolio turnover rate H | 11% G<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 40% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.17 | $13.40 | $11.64 | $11.47 | $13.86 | $12.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .36  | .33  | .30  | .26  | .18  |
| Net realized and unrealized gain (loss)  | .11  | .78  | 1.76  | .58  | (2.32)  | 1.48  |
| Total from investment operations  | .29  | 1.14  | 2.09  | .88  | (2.06)  | 1.66  |
| Distributions from net investment income  | (.22)  | (.35)  | (.33)  | (.33)  | (.21)  | (.16)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.40)  | (.37) C | (.33)  | (.71) C | (.33) C | (.29)  |
| Net asset value, end of period  | $14.06 | $14.17 | $13.40 | $11.64 | $11.47 | $13.86 |
| **Total Return** D,E | 2.05% <br>| 8.72%  | 18.21%  | 7.79%  | (15.24)%  | 13.42%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .51% H | .52%  | .53%  | .57%  | .57%  | .57%  |
| Expenses net of fee waivers, if any  | .48% H<br>| .50%  | .53%  | .57%  | .57%  | .56%  |
| Expenses net of all reductions, if any  | .48% H | .50%  | .53%  | .57%  | .57%  | .56%  |
| Net investment income (loss)  | 2.59% H | 2.70%  | 2.66%  | 2.50%  | 1.97%  | 1.34%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $38669 | $34663 | $32753 | $36451 | $34286 | $42310 |
| Portfolio turnover rate I | 11% H<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 40% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.17 | $13.40 | $11.64 | $11.47 | $13.86 | $12.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .37  | .34  | .31  | .27  | .19  |
| Net realized and unrealized gain (loss)  | .10  | .78  | 1.76  | .58  | (2.32)  | 1.48  |
| Total from investment operations  | .29  | 1.15  | 2.10  | .89  | (2.05)  | 1.67  |
| Distributions from net investment income  | (.22)  | (.36)  | (.34)  | (.34)  | (.23)  | (.17)  |
| Distributions from net realized gain  | (.18)  | (.01)  | -  | (.37)  | (.11)  | (.13)  |
| Total distributions  | (.41) C | (.38) C | (.34)  | (.72) C | (.34)  | (.30)  |
| Net asset value, end of period  | $14.05 | $14.17 | $13.40 | $11.64 | $11.47 | $13.86 |
| **Total Return** D,E | 2.01% <br>| 8.81%  | 18.29%  | 7.89%  | (15.16)%  | 13.49%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .46% H | .46%  | .48%  | .49%  | .49%  | .49%  |
| Expenses net of fee waivers, if any  | .43% H<br>| .44%  | .47%  | .49%  | .49%  | .49%  |
| Expenses net of all reductions, if any  | .43% H | .44%  | .47%  | .49%  | .49%  | .49%  |
| Net investment income (loss)  | 2.65% H | 2.75%  | 2.72%  | 2.58%  | 2.05%  | 1.41%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $722595 | $651892 | $623834 | $530895 | $500747 | $556238 |
| Portfolio turnover rate I | 11% H<br>| 27%  | 13%  | 21%  | 16%  | 22%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 50%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 37.8%** | &nbsp;&nbsp;**Bond Funds - 37.8%** | &nbsp;&nbsp;**Bond Funds - 37.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 1672410 | 152306417 |
| Fidelity Floating Rate Central Fund (c) | 280506 | 26361963 |
| Fidelity High Income Central Fund (c) | 722285 | 78989108 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 2146080 | 193190086 |
| Fidelity International Credit Central Fund (c) | 287858 | 24079327 |
| Fidelity Investment Grade Bond Central Fund (c) | 34114936 | 3366120712 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $3,897,919,534) |  | **3841047613** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 36.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 36.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 36.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 3845677 | 192745331 |
| Fidelity Commodity Strategy Central Fund (c) | 1020494 | 115050439 |
| Fidelity Enhanced Large Cap Value ETF (b) | 1477066 | 51564374 |
| Fidelity Enhanced Mid Cap ETF (b) | 2328310 | 83726028 |
| Fidelity Enhanced Small Cap ETF (b) | 6442080 | 244799040 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 3350698 | 107054801 |
| Fidelity Hedged Equity ETF (b) | 4191080 | 123301574 |
| Fidelity Managed Futures ETF (b) | 943146 | 54131864 |
| Fidelity Real Estate Equity Central Fund (c) | 148381 | 20929157 |
| Fidelity U.S. Equity Central Fund (c) | 18816373 | 2668349891 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $1,540,829,910) |  | **3661652499** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 22.2%** | &nbsp;&nbsp;**International Equity Funds - 22.2%** | &nbsp;&nbsp;**International Equity Funds - 22.2%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 2376062 | 716026276 |
| Fidelity International Equity Central Fund (c) | 12967757 | 1543163043 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $1,397,097,574) |  | **2259189319** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.2%** |
|  | Yield (%) (d) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/16/2026 (e) | 3.60 | 4430000 | 4423307 |
| US Treasury Bills 0% 4/23/2026 (e) | 3.63 | 9110000 | 9089793 |
| US Treasury Bills 0% 4/30/2026 (e) | 3.61 | 2800000 | 2791813 |
| US Treasury Bills 0% 4/9/2026 (e) | 3.54 | 7420000 | 7414047 |
| US Treasury Bills 0% 5/14/2026 (e) | 3.62 to 3.64 | 50000 | 49782 |
| US Treasury Bills 0% 5/21/2026 (e) | 3.64 | 1350000 | 1343198 |
| US Treasury Bills 0% 5/7/2026 (e) | 3.62 | 2020000 | 2012642 |
| US Treasury Bills 0% 6/25/2026 (e) | 3.62 to 3.65 | 2220000 | 2201196 |
| US Treasury Bills 0% 6/4/2026 (e) | 3.63 | 20000 | 19871 |
| US Treasury Bills 0% 7/2/2026 (e) | 3.64 | 930000 | 921436 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $30,267,740) |  |  | **30267085** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $392,614,433)<br>| 3.69 | 392535926 | **392614433** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $7,258,729,191)<br>| <br>**10184770949** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(14852318)** |
| **NET ASSETS - 100.0%** | **10169918631** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 1371 | 6/2026 | 152181000 | (2605325) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 433 | 6/2026 | 50363313 | 162870 |
| TOTAL LONG |  |  |  | (2442455) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | (960) | 6/2026 | (315396000) | 8664731 |
| ICE MSCI EAFE Index Contracts (United States) | (772) | 6/2026 | (111982460) | (468884) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (207) | 6/2026 | (15055110) | 188916 |
| TOTAL SHORT |  |  |  | 8384763 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **5942308** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. | The notional amount of short futures as a percentage of Net Assets is 4.3%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(e) 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 $30,267,085.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 381828335 | 326246391 | 315464618 | 5376784 | 4325 | - | 392614433 | 392535926 | 0.6% |
| Fidelity Commodity Strategy Central Fund | 75119207 | 25067702 | 3007699 | 1078656 | (29184) | 17900413 | 115050439 | 1020494 | 20.8% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 123583699 | 42276872 | 7361076 | 8229341 | (654611) | (5538467) | 152306417 | 1672410 | 25.1% |
| Fidelity Emerging Markets Equity Central Fund | 721927397 | 30290695 | 108389482 | 8361669 | 24164596 | 48033070 | 716026276 | 2376062 | 23.0% |
| Fidelity Floating Rate Central Fund | 71529869 | 3486048 | 47695541 | 1856065 | (2017730) | 1059317 | 26361963 | 280506 | 1.4% |
| Fidelity High Income Central Fund | 170605282 | 8048782 | 98935878 | 4235484 | 5833666 | (6562744) | 78989108 | 722285 | 5.5% |
| Fidelity Inflation-Protected Bond Index Central Fund | 192160816 | 12235769 | 6660345 | 6375818 | (11065) | (4535089) | 193190086 | 2146080 | 24.5% |
| Fidelity International Credit Central Fund | 23665736 | 1327769 | 872438 | 556854 | (119580) | 77840 | 24079327 | 287858 | 23.4% |
| Fidelity International Equity Central Fund | 1551382678 | 150245882 | 84223347 | 104307017 | 4088468 | (78330638) | 1543163043 | 12967757 | 23.4% |
| Fidelity Investment Grade Bond Central Fund | 3138499244 | 419444657 | 156530099 | 71523592 | 352020 | (35645110) | 3366120712 | 34114936 | 7.8% |
| Fidelity Real Estate Equity Central Fund | 20068721 | 865855 | 728930 | 243750 | 27973 | 695538 | 20929157 | 148381 | 2.2% |
| Fidelity U.S. Equity Central Fund | 2660135672 | 380306916 | 129736740 | 282256600 | 17576707 | (259932664) | 2668349891 | 18816373 | 13.1% |
| Total | 9130506656 | 1399843338 | 959606193 | 494401630 | 49215585 | (322778534) | 9297180852 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 205323873 | 1060956 | - | 76528 | - | (13639498) | 192745331 | 3845677 |
| Fidelity Enhanced Large Cap Value ETF | 49526023 | - | - | 450505 | - | 2038351 | 51564374 | 1477066 |
| Fidelity Enhanced Mid Cap ETF | 82103446 | 2103312 | - | 489875 | - | (480730) | 83726028 | 2328310 |
| Fidelity Enhanced Small Cap ETF | 247145198 | - | 12619389 | 1154068 | 2189268 | 8083963 | 244799040 | 6442080 |
| Fidelity Fundamental Small-Mid Cap ETF | 98825316 | - | 1051424 | 269359 | 157740 | 9123169 | 107054801 | 3350698 |
| Fidelity Hedged Equity ETF | 106899797 | 25287943 | 3262734 | 414917 | 611608 | (6235040) | 123301574 | 4191080 |
| Fidelity Managed Futures ETF | 24946790 | 25175182 | - | 1053494 | - | 4009892 | 54131864 | 943146 |
|  | 814770443 | 53627393 | 16933547 | 3908746 | 2958616 | 2900107 | 857323012 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 3841047613 | 3841047613 | - | - |
|  **Domestic Equity Funds** | 3661652499 | 3661652499 | - | - |
|  **International Equity Funds** | 2259189319 | 2259189319 | - | - |
|  **U.S. Treasury Obligations** | 30267085 | - | 30267085 | - |
|  **Money Market Funds** | 392614433 | 392614433 | - | - |
| **Total Investments in Securities:** | 10184770949 | 10154503864 | 30267085 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 9016517 | 9016517 | - | - |
| Total Assets | 9016517 | 9016517 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (3074209) | (3074209) | - | - |
| Total Liabilities | (3074209) | (3074209) | - | - |
| **Total Derivative Instruments:** | 5942308 | 5942308 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 8853647 | (468884) |
| **Total Equity Risk**  | 8853647 | (468884) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 162870 | (2605325) |
| **Total Interest Rate Risk**  | 162870 | (2605325) |
| **Total Value of Derivatives** | 9016517 | (3074209) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 50%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $30,267,740) | $30267085 |  |
| Fidelity Central Funds (cost $6,475,397,930) | 9297180852 |  |
| Other affiliated issuers (cost $753,063,521) | 857323012 |  |
| Total Investment in Securities (cost $7,258,729,191) |  | $10184770949 |
| Receivable for investments sold |  | 2358 |
| Receivable for fund shares sold |  | 13279168 |
| Distributions receivable from Fidelity Central Funds |  | 1105788 |
| Prepaid expenses |  | 3482 |
| Other receivables |  | 8795 |
| **Total assets** |  | 10199170540 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $9358489 |  |
| Payable for fund shares redeemed | 3301236 |  |
| Accrued management fee | 3913707 |  |
| Distribution and service plan fees payable | 68441 |  |
| Payable for variation margin on futures contracts | 12576297 |  |
| Other payables and accrued expenses | 33739 |  |
| **Total liabilities** |  | 29251909 |
| **Net Assets**  |  | $10169918631 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $7455029036 |
| Total accumulated earnings (loss) |  | 2714889595 |
| **Net Assets** |  | $10169918631 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($131,982,803 ÷ 6,102,181 shares)(a) |  | $21.63 |
| Maximum offering price per share (100/94.25 of $21.63) |  | $22.95 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($52,158,934 ÷ 2,415,246 shares)(a) |  | $21.60 |
| Maximum offering price per share (100/96.50 of $21.60) |  | $22.38 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($21,766,105 ÷ 1,019,124 shares)(a) |  | $21.36 |
| **Asset Manager 50% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($7,195,232,386 ÷ 330,683,121 shares) |  | $21.76 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($63,988,602 ÷ 2,948,593 shares) |  | $21.70 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,704,789,801 ÷ 124,776,162 shares) |  | $21.68 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $3,908,746 earned from affiliated issuers) |  | $3908746 |
| Interest  |  | 465900 |
| Income from Fidelity Central Funds  |  | 140679951 |
| **Total income** |  | 145054597 |
| **Expenses** |  |  |
| Management fee | $25349764 |  |
| Distribution and service plan fees | 422052 |  |
| Custodian fees and expenses | 20135 |  |
| Independent trustees' fees and expenses | 11927 |  |
| Registration fees | 77856 |  |
| Audit fees | 16600 |  |
| Legal | 7363 |  |
| Miscellaneous | 15947 |  |
| Total expenses before reductions | 25921644 |  |
| Expense reductions | (1764941) |  |
| Total expenses after reductions |  | 24156703 |
| **Net Investment income (loss)** |  | 120897894 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 55 |  |
| Fidelity Central Funds | 49215585 |  |
| Other affiliated issuers | 2958616 |  |
| Futures contracts | (419400) |  |
| Capital gain distributions from Fidelity Central Funds | 353721679 |  |
| Total net realized gain (loss) |  | 405476535 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (3019) |  |
| Fidelity Central Funds  | (322778534) |  |
| Other affiliated issuers  | 2900107 |  |
| Futures contracts | 9961780 |  |
| Total change in net unrealized appreciation (depreciation) |  | (309919666) |
| **Net gain (loss)** |  | 95556869 |
| **Net increase (decrease) in net assets resulting from operations** |  | $216454763 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $120897894 | $232839736 |
| &nbsp;&nbsp;Net realized gain (loss) | 405476535<br>| 739838723<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (309919666) | (56096957)<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 216454763<br>| 916581502<br>|
| Distributions to shareholders | (643175151)<br>| (366147157)<br>|
| Share transactions - net increase (decrease) | 626670204<br>| (389752755)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 199949816<br>| 160681590<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 9969968815 | 9809287225<br>|
| &nbsp;&nbsp;End of period | $10169918631 | $9969968815 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 50% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.57 | $21.32 | $18.14 | $17.75 | $21.98 | $19.33 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .23  | .45  | .41  | .37  | .33  | .20  |
| Net realized and unrealized gain (loss)  | .23  | 1.55  | 3.17  | 1.24  | (3.97)  | 2.86  |
| Total from investment operations  | .46  | 2.00  | 3.58  | 1.61  | (3.64)  | 3.06  |
| Distributions from net investment income  | (.29)  | (.45)  | (.40)  | (.44)  | (.28)  | (.17)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.40)  | (.75)  | (.40)  | (1.22)  | (.59)  | (.41)  |
| Net asset value, end of period  | $21.63 | $22.57 | $21.32 | $18.14 | $17.75 | $21.98 |
| **Total Return** C,D,E | 2.02% <br>| 9.74%  | 19.97%  | 9.29%  | (17.02)%  | 15.99%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .81% H | .82%  | .86%  | .91%  | .91%  | .91%  |
| Expenses net of fee waivers, if any  | .77% H<br>| .79%  | .85%  | .91%  | .90%  | .91%  |
| Expenses net of all reductions, if any  | .77% H | .79%  | .85%  | .91%  | .90%  | .91%  |
| Net investment income (loss)  | 2.05% H | 2.14%  | 2.06%  | 2.00%  | 1.63%  | .94%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $131983 | $133335 | $131499 | $116526 | $110693 | $134052 |
| Portfolio turnover rate I | 13% H<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 50% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.54 | $21.29 | $18.12 | $17.73 | $21.95 | $19.31 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .20  | .40  | .36  | .32  | .28  | .15  |
| Net realized and unrealized gain (loss)  | .23  | 1.55  | 3.16  | 1.24  | (3.95)  | 2.85  |
| Total from investment operations  | .43  | 1.95  | 3.52  | 1.56  | (3.67)  | 3.00  |
| Distributions from net investment income  | (.26)  | (.40)  | (.35)  | (.39)  | (.24)  | (.12)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.37)  | (.70)  | (.35)  | (1.17)  | (.55)  | (.36)  |
| Net asset value, end of period  | $21.60 | $22.54 | $21.29 | $18.12 | $17.73 | $21.95 |
| **Total Return** C,D,E | 1.88% <br>| 9.49%  | 19.64%  | 9.03%  | (17.18)%  | 15.69%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.06% H | 1.07%  | 1.10%  | 1.15%  | 1.15%  | 1.15%  |
| Expenses net of fee waivers, if any  | 1.02% H<br>| 1.04%  | 1.10%  | 1.15%  | 1.15%  | 1.15%  |
| Expenses net of all reductions, if any  | 1.02% H | 1.04%  | 1.10%  | 1.15%  | 1.15%  | 1.15%  |
| Net investment income (loss)  | 1.80% H | 1.89%  | 1.82%  | 1.76%  | 1.39%  | .70%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $52159 | $53552 | $52923 | $48134 | $47759 | $57507 |
| Portfolio turnover rate I | 13% H<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 50% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.30 | $21.07 | $17.93 | $17.55 | $21.76 | $19.16 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .14  | .29  | .26  | .23  | .18  | .04  |
| Net realized and unrealized gain (loss)  | .23  | 1.53  | 3.13  | 1.23  | (3.93)  | 2.84  |
| Total from investment operations  | .37  | 1.82  | 3.39  | 1.46  | (3.75)  | 2.88  |
| Distributions from net investment income  | (.20)  | (.29)  | (.25)  | (.29)  | (.15)  | (.04)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.31)  | (.59)  | (.25)  | (1.08) C | (.46)  | (.28)  |
| Net asset value, end of period  | $21.36 | $22.30 | $21.07 | $17.93 | $17.55 | $21.76 |
| **Total Return** D,E,F | 1.63% <br>| 8.92%  | 19.05%  | 8.47%  | (17.64)%  | 15.12%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.56% I | 1.57%  | 1.60%  | 1.66%  | 1.66%  | 1.67%  |
| Expenses net of fee waivers, if any  | 1.52% I<br>| 1.54%  | 1.59%  | 1.66%  | 1.66%  | 1.67%  |
| Expenses net of all reductions, if any  | 1.52% I | 1.54%  | 1.59%  | 1.66%  | 1.66%  | 1.67%  |
| Net investment income (loss)  | 1.30% I | 1.39%  | 1.32%  | 1.24%  | .87%  | .18%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $21766 | $24132 | $26736 | $29986 | $31796 | $51226 |
| Portfolio turnover rate J | 13% I<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the contingent deferred sales charge.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 50%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.70 | $21.44 | $18.23 | $17.84 | $22.09 | $19.42 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .26  | .51  | .47  | .43  | .40  | .27  |
| Net realized and unrealized gain (loss)  | .24  | 1.56  | 3.20  | 1.24  | (3.99)  | 2.87  |
| Total from investment operations  | .50  | 2.07  | 3.67  | 1.67  | (3.59)  | 3.14  |
| Distributions from net investment income  | (.32)  | (.51)  | (.46)  | (.49)  | (.35)  | (.23)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.44) C | (.81)  | (.46)  | (1.28) C | (.66)  | (.47)  |
| Net asset value, end of period  | $21.76 | $22.70 | $21.44 | $18.23 | $17.84 | $22.09 |
| **Total Return** D,E | 2.16% <br>| 10.04%  | 20.37%  | 9.59%  | (16.79)%  | 16.36%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .51% H | .53%  | .57%  | .61%  | .61%  | .61%  |
| Expenses net of fee waivers, if any  | .48% H<br>| .50%  | .56%  | .61%  | .60%  | .60%  |
| Expenses net of all reductions, if any  | .48% H | .50%  | .56%  | .61%  | .60%  | .60%  |
| Net investment income (loss)  | 2.35% H | 2.43%  | 2.36%  | 2.29%  | 1.93%  | 1.25%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7195232 | $7319771 | $7407487 | $6958278 | $7094870 | $9274634 |
| Portfolio turnover rate I | 13% H<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 50% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.65 | $21.39 | $18.20 | $17.80 | $22.04 | $19.38 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .26  | .50  | .46  | .42  | .39  | .26  |
| Net realized and unrealized gain (loss)  | .22  | 1.56  | 3.18  | 1.25  | (3.98)  | 2.87  |
| Total from investment operations  | .48  | 2.06  | 3.64  | 1.67  | (3.59)  | 3.13  |
| Distributions from net investment income  | (.32)  | (.50)  | (.45)  | (.49)  | (.34)  | (.23)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.43)  | (.80)  | (.45)  | (1.27)  | (.65)  | (.47)  |
| Net asset value, end of period  | $21.70 | $22.65 | $21.39 | $18.20 | $17.80 | $22.04 |
| **Total Return** C,D | 2.10% <br>| 10.04%  | 20.26%  | 9.63%  | (16.80)%  | 16.30%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .56% G | .57%  | .60%  | .64%  | .64%  | .64%  |
| Expenses net of fee waivers, if any  | .52% G<br>| .54%  | .59%  | .63%  | .64%  | .64%  |
| Expenses net of all reductions, if any  | .52% G | .54%  | .59%  | .63%  | .64%  | .64%  |
| Net investment income (loss)  | 2.30% G | 2.39%  | 2.32%  | 2.27%  | 1.90%  | 1.21%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $63989 | $65351 | $57058 | $50986 | $60352 | $81320 |
| Portfolio turnover rate H | 13% G<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 50% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $22.63 | $21.37 | $18.18 | $17.79 | $22.03 | $19.37 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .27  | .53  | .48  | .44  | .41  | .28  |
| Net realized and unrealized gain (loss)  | .23  | 1.55  | 3.18  | 1.24  | (3.98)  | 2.87  |
| Total from investment operations  | .50  | 2.08  | 3.66  | 1.68  | (3.57)  | 3.15  |
| Distributions from net investment income  | (.34)  | (.52)  | (.47)  | (.51)  | (.36)  | (.25)  |
| Distributions from net realized gain  | (1.11)  | (.30)  | -  | (.78)  | (.31)  | (.24)  |
| Total distributions  | (1.45)  | (.82)  | (.47)  | (1.29)  | (.67)  | (.49)  |
| Net asset value, end of period  | $21.68 | $22.63 | $21.37 | $18.18 | $17.79 | $22.03 |
| **Total Return** C,D | 2.17% <br>| 10.18%  | 20.41%  | 9.71%  | (16.71)%  | 16.43%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .44% G | .45%  | .49%  | .54%  | .53%  | .54%  |
| Expenses net of fee waivers, if any  | .41% G<br>| .42%  | .48%  | .53%  | .53%  | .54%  |
| Expenses net of all reductions, if any  | .41% G | .42%  | .48%  | .53%  | .53%  | .54%  |
| Net investment income (loss)  | 2.42% G | 2.50%  | 2.43%  | 2.37%  | 2.00%  | 1.32%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2704790 | $2373828 | $2133585 | $1834344 | $1665184 | $1955130 |
| Portfolio turnover rate H | 13% G<br>| 25%  | 12%  | 20%  | 20%  | 17%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 60%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 32.8%** | &nbsp;&nbsp;**Bond Funds - 32.8%** | &nbsp;&nbsp;**Bond Funds - 32.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 796531 | 72540044 |
| Fidelity Floating Rate Central Fund (c) | 140599 | 13213503 |
| Fidelity High Income Central Fund (c) | 361997 | 39588041 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 1063621 | 95747134 |
| Fidelity International Credit Central Fund (c) | 141485 | 11835180 |
| Fidelity Investment Grade Bond Central Fund (c) | 14490661 | 1429793564 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $1,717,865,091) |  | **1662717466** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 39.5%** | &nbsp;&nbsp;**Domestic Equity Funds - 39.5%** | &nbsp;&nbsp;**Domestic Equity Funds - 39.5%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 2115571 | 106032419 |
| Fidelity Commodity Strategy Central Fund (c) | 510772 | 57584415 |
| Fidelity Enhanced Large Cap Value ETF (b) | 773240 | 26993808 |
| Fidelity Enhanced Mid Cap ETF (b) | 1208638 | 43462622 |
| Fidelity Enhanced Small Cap ETF (b) | 3484306 | 132403629 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 1716542 | 54843516 |
| Fidelity Hedged Equity ETF (b) | 2003714 | 58949266 |
| Fidelity Managed Futures ETF (b) | 445932 | 25594267 |
| Fidelity Real Estate Equity Central Fund (c) | 74168 | 10461372 |
| Fidelity U.S. Equity Central Fund (c) | 10442653 | 1480872618 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $1,144,881,667) |  | **1997197932** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 25.8%** | &nbsp;&nbsp;**International Equity Funds - 25.8%** | &nbsp;&nbsp;**International Equity Funds - 25.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 1388573 | 418446395 |
| Fidelity International Equity Central Fund (c) | 7482517 | 890419568 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $898,206,402) |  | **1308865963** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** |
|  | Yield (%) (d) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/23/2026 (e) | 3.63 | 240000 | 239468 |
| US Treasury Bills 0% 4/30/2026 (e) | 3.61 | 2890000 | 2881550 |
| US Treasury Bills 0% 5/14/2026 (e) | 3.64 | 20000 | 19912 |
| US Treasury Bills 0% 5/21/2026 (e) | 3.64 | 340000 | 338287 |
| US Treasury Bills 0% 5/28/2026 (e) | 3.62 | 30000 | 29827 |
| US Treasury Bills 0% 5/7/2026 (e) | 3.62 | 560000 | 557960 |
| US Treasury Bills 0% 6/25/2026 (e) | 3.62 to 3.65 | 700000 | 694071 |
| US Treasury Bills 0% 6/4/2026 (e) | 3.63 | 90000 | 89422 |
| US Treasury Bills 0% 7/2/2026 (e) | 3.64 | 570000 | 564751 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $5,415,396) |  |  | **5415248** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.9%** | &nbsp;&nbsp;**Money Market Funds - 1.9%** | &nbsp;&nbsp;**Money Market Funds - 1.9%** | &nbsp;&nbsp;**Money Market Funds - 1.9%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $96,314,477)<br>| 3.69 | 96295218 | **96314477** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $3,862,683,033)<br>| <br>**5070511086** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(4173170)** |
| **NET ASSETS - 100.0%** | **5066337916** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 679 | 6/2026 | 75369000 | (1290310) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 216 | 6/2026 | 25123500 | 81536 |
| TOTAL LONG |  |  |  | (1208774) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | (63) | 6/2026 | (20697863) | 569151 |
| ICE MSCI EAFE Index Contracts (United States) | (280) | 6/2026 | (40615400) | (173685) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (103) | 6/2026 | (7491190) | 94002 |
| TOTAL SHORT |  |  |  | 489468 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **(719306)** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 1.3%. | The notional amount of short futures as a percentage of Net Assets is 1.3%. | The notional amount of short futures as a percentage of Net Assets is 1.3%. | The notional amount of short futures as a percentage of Net Assets is 1.3%. | The notional amount of short futures as a percentage of Net Assets is 1.3%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(e) 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 $5,415,248.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 84418034 | 116167403 | 104272208 | 773028 | 1248 | - | 96314477 | 96295218 | 0.2% |
| Fidelity Commodity Strategy Central Fund | 35075284 | 14896730 | 1174666 | 515961 | 45181 | 8741886 | 57584415 | 510772 | 10.4% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 56984439 | 22034307 | 3505911 | 3919446 | (327067) | (2645724) | 72540044 | 796531 | 12.0% |
| Fidelity Emerging Markets Equity Central Fund | 397366032 | 39016592 | 58616271 | 4734829 | 6076649 | 34603393 | 418446395 | 1388573 | 13.4% |
| Fidelity Floating Rate Central Fund | 32089494 | 2993728 | 21410928 | 887205 | (882422) | 423631 | 13213503 | 140599 | 0.7% |
| Fidelity High Income Central Fund | 79681093 | 6988436 | 46720010 | 2054425 | 2195021 | (2556499) | 39588041 | 361997 | 2.8% |
| Fidelity Inflation-Protected Bond Index Central Fund | 89754365 | 10868070 | 2716747 | 3039955 | (9345) | (2149209) | 95747134 | 1063621 | 12.1% |
| Fidelity International Credit Central Fund | 10929085 | 1290725 | 356735 | 261648 | (28051) | 156 | 11835180 | 141485 | 11.5% |
| Fidelity International Equity Central Fund | 857197009 | 131196252 | 54987058 | 59287925 | (1000095) | (41986540) | 890419568 | 7482517 | 13.5% |
| Fidelity Investment Grade Bond Central Fund | 1241673245 | 255593889 | 52218518 | 29619057 | (51027) | (15204025) | 1429793564 | 14490661 | 3.3% |
| Fidelity Real Estate Equity Central Fund | 9431328 | 972204 | 297191 | 118352 | 165 | 354866 | 10461372 | 74168 | 1.1% |
| Fidelity U.S. Equity Central Fund | 1375966098 | 306419502 | 68386409 | 151666877 | (1756987) | (131369586) | 1480872618 | 10442653 | 7.3% |
| Total | 4270565506 | 908437838 | 414662652 | 256878708 | 4263270 | (151787651) | 4616816311 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 104997756 | 8331438 | - | 39134 | - | (7296775) | 106032419 | 2115571 |
| Fidelity Enhanced Large Cap Value ETF | 25926737 | - | - | 235838 | - | 1067071 | 26993808 | 773240 |
| Fidelity Enhanced Mid Cap ETF | 41649861 | 2075736 | - | 251451 | - | (262975) | 43462622 | 1208638 |
| Fidelity Enhanced Small Cap ETF | 127386228 | 1 | - | 609754 | - | 5017400 | 132403629 | 3484306 |
| Fidelity Fundamental Small-Mid Cap ETF | 50140192 | - | - | 137323 | - | 4703324 | 54843516 | 1716542 |
| Fidelity Hedged Equity ETF | 48227672 | 13445446 | - | 198368 | - | (2723852) | 58949266 | 2003714 |
| Fidelity Managed Futures ETF | 11495221 | 12212245 | - | 498106 | - | 1886801 | 25594267 | 445932 |
|  | 409823667 | 36064866 | - | 1969974 | - | 2390994 | 448279527 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 1662717466 | 1662717466 | - | - |
|  **Domestic Equity Funds** | 1997197932 | 1997197932 | - | - |
|  **International Equity Funds** | 1308865963 | 1308865963 | - | - |
|  **U.S. Treasury Obligations** | 5415248 | - | 5415248 | - |
|  **Money Market Funds** | 96314477 | 96314477 | - | - |
| **Total Investments in Securities:** | 5070511086 | 5065095838 | 5415248 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 744689 | 744689 | - | - |
| Total Assets | 744689 | 744689 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (1463995) | (1463995) | - | - |
| Total Liabilities | (1463995) | (1463995) | - | - |
| **Total Derivative Instruments:** | (719306) | (719306) | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 663153 | (173685) |
| **Total Equity Risk**  | 663153 | (173685) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 81536 | (1290310) |
| **Total Interest Rate Risk**  | 81536 | (1290310) |
| **Total Value of Derivatives** | 744689 | (1463995) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 60%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $5,415,396) | $5415248 |  |
| Fidelity Central Funds (cost $3,461,611,290) | 4616816311 |  |
| Other affiliated issuers (cost $395,656,347) | 448279527 |  |
| Total Investment in Securities (cost $3,862,683,033) |  | $5070511086 |
| Cash |  | 4 |
| Foreign currency held at value (cost $1) |  | 1 |
| Receivable for investments sold |  | 293 |
| Receivable for fund shares sold |  | 3282657 |
| Dividends receivable |  | 4743 |
| Distributions receivable from Fidelity Central Funds |  | 257111 |
| Prepaid expenses |  | 1609 |
| Other receivables |  | 2092 |
| **Total assets** |  | 5074059596 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $2075673 |  |
| Payable for fund shares redeemed | 1183035 |  |
| Accrued management fee | 2307666 |  |
| Distribution and service plan fees payable | 83593 |  |
| Payable for variation margin on futures contracts | 2000088 |  |
| Other payables and accrued expenses | 71625 |  |
| **Total liabilities** |  | 7721680 |
| **Net Assets**  |  | $5066337916 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $3779216112 |
| Total accumulated earnings (loss) |  | 1287121804 |
| **Net Assets** |  | $5066337916 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($184,309,295 ÷ 10,925,072 shares)(a) |  | $16.87 |
| Maximum offering price per share (100/94.25 of $16.87) |  | $17.90 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($51,354,499 ÷ 3,062,335 shares)(a) |  | $16.77 |
| Maximum offering price per share (100/96.50 of $16.77) |  | $17.38 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($27,347,811 ÷ 1,646,553 shares)(a) |  | $16.61 |
| **Asset Manager 60% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,453,156,368 ÷ 144,515,134 shares) |  | $16.98 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($135,747,009 ÷ 7,995,980 shares) |  | $16.98 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,214,422,934 ÷ 130,660,026 shares) |  | $16.95 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $1,969,974 earned from affiliated issuers) |  | $1969974 |
| Interest  |  | 69732 |
| Income from Fidelity Central Funds  |  | 64289323 |
| **Total income** |  | 66329029 |
| **Expenses** |  |  |
| Management fee | $14504974 |  |
| Distribution and service plan fees | 508241 |  |
| Custodian fees and expenses | 22641 |  |
| Independent trustees' fees and expenses | 5737 |  |
| Registration fees | 117327 |  |
| Audit fees | 16445 |  |
| Legal | 3510 |  |
| Miscellaneous | 7536 |  |
| Total expenses before reductions | 15186411 |  |
| Expense reductions | (891532) |  |
| Total expenses after reductions |  | 14294879 |
| **Net Investment income (loss)** |  | 52034150 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 7155 |  |
| Fidelity Central Funds | 4263270 |  |
| Foreign currency transactions | 87 |  |
| Futures contracts | (29769) |  |
| Capital gain distributions from Fidelity Central Funds | 192589385 |  |
| Total net realized gain (loss) |  | 196830128 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (739) |  |
| Fidelity Central Funds  | (151787651) |  |
| Other affiliated issuers  | 2390994 |  |
| Assets and liabilities in foreign currencies | (304) |  |
| Futures contracts | (537779) |  |
| Total change in net unrealized appreciation (depreciation) |  | (149935479) |
| **Net gain (loss)** |  | 46894649 |
| **Net increase (decrease) in net assets resulting from operations** |  | $98928799 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $52034150 | $94044590 |
| &nbsp;&nbsp;Net realized gain (loss) | 196830128<br>| 246007925<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (149935479) | 134196860<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 98928799<br>| 474249375<br>|
| Distributions to shareholders | (281836096)<br>| (137720646)<br>|
| Share transactions - net increase (decrease) | 564834282<br>| 5353758<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 381926985<br>| 341882487<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 4684410931 | 4342528444<br>|
| &nbsp;&nbsp;End of period | $5066337916 | $4684410931 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 60% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.47 | $16.21 | $13.51 | $12.66 | $15.88 | $13.57 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .30  | .27  | .24  | .23  | .13  |
| Net realized and unrealized gain (loss)  | .19  | 1.42  | 2.67  | 1.14  | (3.08)  | 2.42  |
| Total from investment operations  | .35  | 1.72  | 2.94  | 1.38  | (2.85)  | 2.55  |
| Distributions from net investment income  | (.31)  | (.28)  | (.24)  | (.25)  | (.18)  | (.12)  |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (.95)  | (.46)  | (.24)  | (.53)  | (.37)  | (.24)  |
| Net asset value, end of period  | $16.87 | $17.47 | $16.21 | $13.51 | $12.66 | $15.88 |
| **Total Return** C,D,E | 1.93% <br>| 10.99%  | 21.95%  | 11.09%  | (18.47)%  | 18.90%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .91% H | .92%  | .95%  | .99%  | .99%  | .99%  |
| Expenses net of fee waivers, if any  | .87% H<br>| .89%  | .94%  | .99%  | .99%  | .99%  |
| Expenses net of all reductions, if any  | .87% H | .89%  | .94%  | .99%  | .99%  | .99%  |
| Net investment income (loss)  | 1.78% H | 1.86%  | 1.79%  | 1.79%  | 1.55%  | .84%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $184309 | $186264 | $176093 | $149985 | $138958 | $167442 |
| Portfolio turnover rate I | 13% H<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 60% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.35 | $16.10 | $13.42 | $12.58 | $15.78 | $13.48 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .26  | .23  | .21  | .19  | .09  |
| Net realized and unrealized gain (loss)  | .19  | 1.41  | 2.66  | 1.13  | (3.07)  | 2.41  |
| Total from investment operations  | .32  | 1.67  | 2.89  | 1.34  | (2.88)  | 2.50  |
| Distributions from net investment income  | (.26)  | (.24)  | (.21)  | (.22)  | (.13)  | (.08)  |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (.90)  | (.42)  | (.21)  | (.50)  | (.32)  | (.20)  |
| Net asset value, end of period  | $16.77 | $17.35 | $16.10 | $13.42 | $12.58 | $15.78 |
| **Total Return** C,D,E | 1.80% <br>| 10.72%  | 21.67%  | 10.79%  | (18.67)%  | 18.67%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.16% H | 1.17%  | 1.19%  | 1.23%  | 1.23%  | 1.24%  |
| Expenses net of fee waivers, if any  | 1.12% H<br>| 1.14%  | 1.18%  | 1.23%  | 1.23%  | 1.24%  |
| Expenses net of all reductions, if any  | 1.12% H | 1.14%  | 1.18%  | 1.23%  | 1.23%  | 1.24%  |
| Net investment income (loss)  | 1.53% H | 1.61%  | 1.55%  | 1.55%  | 1.31%  | .59%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $51354 | $52193 | $50835 | $45642 | $43630 | $54174 |
| Portfolio turnover rate I | 13% H<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 60% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.14 | $15.90 | $13.25 | $12.39 | $15.55 | $13.29 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .18  | .15  | .14  | .12  | .01  |
| Net realized and unrealized gain (loss)  | .19  | 1.39  | 2.62  | 1.12  | (3.05)  | 2.38  |
| Total from investment operations  | .28  | 1.57  | 2.77  | 1.26  | (2.93)  | 2.39  |
| Distributions from net investment income  | (.17)  | (.15)  | (.12)  | (.12)  | (.04)  | - C |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (.81)  | (.33)  | (.12)  | (.40)  | (.23)  | (.13) D |
| Net asset value, end of period  | $16.61 | $17.14 | $15.90 | $13.25 | $12.39 | $15.55 |
| **Total Return** E,F,G | 1.57% <br>| 10.13%  | 21.02%  | 10.30%  | (19.15)%  | 18.02%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.66% J | 1.67%  | 1.70%  | 1.76%  | 1.75%  | 1.77%  |
| Expenses net of fee waivers, if any  | 1.62% J<br>| 1.64%  | 1.69%  | 1.76%  | 1.75%  | 1.77%  |
| Expenses net of all reductions, if any  | 1.62% J | 1.64%  | 1.69%  | 1.76%  | 1.75%  | 1.77%  |
| Net investment income (loss)  | 1.03% J | 1.11%  | 1.04%  | 1.03%  | .79%  | .06%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $27348 | $27961 | $30747 | $30786 | $32289 | $55262 |
| Portfolio turnover rate K | 13% J<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.005 per share.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the contingent deferred sales charge.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 60%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.59 | $16.32 | $13.60 | $12.75 | $15.98 | $13.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .35  | .31  | .29  | .28  | .18  |
| Net realized and unrealized gain (loss)  | .21  | 1.43  | 2.69  | 1.14  | (3.10)  | 2.43  |
| Total from investment operations  | .39  | 1.78  | 3.00  | 1.43  | (2.82)  | 2.61  |
| Distributions from net investment income  | (.36)  | (.33)  | (.28)  | (.29)  | (.22)  | (.16)  |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (1.00)  | (.51)  | (.28)  | (.58) C | (.41)  | (.28)  |
| Net asset value, end of period  | $16.98 | $17.59 | $16.32 | $13.60 | $12.75 | $15.98 |
| **Total Return** D,E | 2.15% <br>| 11.31%  | 22.31%  | 11.38%  | (18.20)%  | 19.28%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .61% H | .62%  | .65%  | .68%  | .67%  | .67%  |
| Expenses net of fee waivers, if any  | .58% H<br>| .60%  | .64%  | .68%  | .67%  | .67%  |
| Expenses net of all reductions, if any  | .58% H | .60%  | .64%  | .68%  | .67%  | .67%  |
| Net investment income (loss)  | 2.07% H | 2.16%  | 2.09%  | 2.10%  | 1.87%  | 1.15%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2453156 | $2354875 | $2282371 | $2043414 | $1935217 | $2427382 |
| Portfolio turnover rate I | 13% H<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 60% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.59 | $16.33 | $13.61 | $12.75 | $15.99 | $13.66 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .34  | .31  | .28  | .27  | .17  |
| Net realized and unrealized gain (loss)  | .19  | 1.43  | 2.68  | 1.15  | (3.10)  | 2.43  |
| Total from investment operations  | .37  | 1.77  | 2.99  | 1.43  | (2.83)  | 2.60  |
| Distributions from net investment income  | (.34)  | (.33)  | (.27)  | (.29)  | (.22)  | (.15)  |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (.98)  | (.51)  | (.27)  | (.57)  | (.41)  | (.27)  |
| Net asset value, end of period  | $16.98 | $17.59 | $16.33 | $13.61 | $12.75 | $15.99 |
| **Total Return** C,D | 2.07% <br>| 11.26%  | 22.23%  | 11.39%  | (18.27)%  | 19.20%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .66% G | .67%  | .70%  | .74%  | .74%  | .74%  |
| Expenses net of fee waivers, if any  | .62% G<br>| .64%  | .69%  | .74%  | .73%  | .74%  |
| Expenses net of all reductions, if any  | .62% G | .64%  | .69%  | .74%  | .73%  | .74%  |
| Net investment income (loss)  | 2.03% G | 2.11%  | 2.04%  | 2.04%  | 1.81%  | 1.09%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $135747 | $139456 | $114376 | $101803 | $95499 | $115782 |
| Portfolio turnover rate H | 13% G<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 60% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.58 | $16.32 | $13.60 | $12.74 | $15.98 | $13.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .36  | .32  | .30  | .29  | .19  |
| Net realized and unrealized gain (loss)  | .20  | 1.43  | 2.69  | 1.15  | (3.10)  | 2.43  |
| Total from investment operations  | .39  | 1.79  | 3.01  | 1.45  | (2.81)  | 2.62  |
| Distributions from net investment income  | (.38)  | (.35)  | (.29)  | (.31)  | (.24)  | (.17)  |
| Distributions from net realized gain  | (.64)  | (.18)  | -  | (.28)  | (.19)  | (.12)  |
| Total distributions  | (1.02)  | (.53)  | (.29)  | (.59)  | (.43)  | (.29)  |
| Net asset value, end of period  | $16.95 | $17.58 | $16.32 | $13.60 | $12.74 | $15.98 |
| **Total Return** C,D | 2.15% <br>| 11.37%  | 22.40%  | 11.56%  | (18.17)%  | 19.35%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .54% G | .55%  | .58%  | .61%  | .60%  | .61%  |
| Expenses net of fee waivers, if any  | .51% G<br>| .52%  | .57%  | .60%  | .60%  | .61%  |
| Expenses net of all reductions, if any  | .51% G | .52%  | .57%  | .60%  | .60%  | .61%  |
| Net investment income (loss)  | 2.14% G | 2.23%  | 2.16%  | 2.18%  | 1.94%  | 1.22%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2214423 | $1923663 | $1688106 | $1340852 | $1240298 | $1412486 |
| Portfolio turnover rate H | 13% G<br>| 29%  | 17%  | 21%  | 23%  | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

D*Total returns for periods of less than one year are not annualized.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 70%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 22.6%** | &nbsp;&nbsp;**Bond Funds - 22.6%** | &nbsp;&nbsp;**Bond Funds - 22.6%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (c) | 1272432 | 115880350 |
| Fidelity Floating Rate Central Fund (c) | 220338 | 20707356 |
| Fidelity High Income Central Fund (c) | 567331 | 62043296 |
| Fidelity Inflation-Protected Bond Index Central Fund (c) | 1643525 | 147950104 |
| Fidelity International Credit Central Fund (c) | 216190 | 18084297 |
| Fidelity Investment Grade Bond Central Fund (c) | 14401514 | 1420997366 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $1,818,147,804) |  | **1785662769** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 45.3%** | &nbsp;&nbsp;**Domestic Equity Funds - 45.3%** | &nbsp;&nbsp;**Domestic Equity Funds - 45.3%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b) | 3840836 | 192502700 |
| Fidelity Commodity Strategy Central Fund (c) | 798096 | 89977302 |
| Fidelity Enhanced Large Cap Value ETF (b) | 1438070 | 50203024 |
| Fidelity Enhanced Mid Cap ETF (b) | 2144694 | 77123196 |
| Fidelity Enhanced Small Cap ETF (b) | 6507361 | 247279718 |
| Fidelity Fundamental Small-Mid Cap ETF (b) | 3195281 | 102089228 |
| Fidelity Hedged Equity ETF (b) | 3194651 | 93986632 |
| Fidelity Managed Futures ETF (b) | 709693 | 40732830 |
| Fidelity Real Estate Equity Central Fund (c) | 113678 | 16034336 |
| Fidelity U.S. Equity Central Fund (c) | 18782886 | 2663601117 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $1,630,067,315) |  | **3573530083** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 29.9%** | &nbsp;&nbsp;**International Equity Funds - 29.9%** | &nbsp;&nbsp;**International Equity Funds - 29.9%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (c) | 2480686 | 747554818 |
| Fidelity International Equity Central Fund (c) | 13556407 | 1613212381 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $1,554,864,156) |  | **2360767199** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** |
|  | Yield (%) (d) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/30/2026 (e) | 3.61 | 3170000 | 3160731 |
| US Treasury Bills 0% 5/14/2026 (e) | 3.62 to 3.64 | 40000 | 39826 |
| US Treasury Bills 0% 5/21/2026 (e) | 3.64 | 650000 | 646725 |
| US Treasury Bills 0% 5/7/2026 (e) | 3.62 | 590000 | 587851 |
| US Treasury Bills 0% 6/25/2026 (e) | 3.62 to 3.65 | 1300000 | 1288988 |
| US Treasury Bills 0% 7/2/2026 (e) | 3.64 | 880000 | 871897 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $6,596,158) |  |  | **6596018** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $170,768,154)<br>| 3.69 | 170734007 | **170768154** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $5,180,443,587)<br>| <br>**7897324223** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(5800687)** |
| **NET ASSETS - 100.0%** | **7891523536** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 1072 | 6/2026 | 118992000 | (2037132) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 335 | 6/2026 | 38964688 | 126397 |
| TOTAL LONG |  |  |  | (1910735) |
| SHORT |  |  |  |  |
| Equity Contracts |  |  |  |  |
| ICE MSCI EAFE Index Contracts (United States) | (513) | 6/2026 | (74413215) | (312989) |
| ICE MSCI Emerging Markets Index Contracts (United States) | (161) | 6/2026 | (11709530) | 146935 |
| TOTAL SHORT |  |  |  | (166054) |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **(2076789)** |
| The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. | The notional amount of long futures as a percentage of Net Assets is 2.0%. |
| The notional amount of short futures as a percentage of Net Assets is 1.0%. | The notional amount of short futures as a percentage of Net Assets is 1.0%. | The notional amount of short futures as a percentage of Net Assets is 1.0%. | The notional amount of short futures as a percentage of Net Assets is 1.0%. | The notional amount of short futures as a percentage of Net Assets is 1.0%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Affiliated fund.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(e) 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 $6,596,018.

(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.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 156562839 | 181800014 | 167598400 | 1705545 | 3701 | - | 170768154 | 170734007 | 0.3% |
| Fidelity Commodity Strategy Central Fund | 56123177 | 21696505 | 1602380 | 812672 | 67575 | 13692425 | 89977302 | 798096 | 16.3% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 91247984 | 34979198 | 5600578 | 6261187 | (519139) | (4227115) | 115880350 | 1272432 | 19.1% |
| Fidelity Emerging Markets Equity Central Fund | 731246062 | 41096444 | 98338284 | 8543784 | 14957945 | 58592651 | 747554818 | 2480686 | 24.0% |
| Fidelity Floating Rate Central Fund | 51786451 | 3180173 | 33531174 | 1405431 | (1463639) | 735545 | 20707356 | 220338 | 1.1% |
| Fidelity High Income Central Fund | 127500789 | 7473659 | 72359948 | 3249327 | 3419281 | (3990485) | 62043296 | 567331 | 4.3% |
| Fidelity Inflation-Protected Bond Index Central Fund | 143619270 | 11280165 | 3539848 | 4794911 | (10485) | (3398998) | 147950104 | 1643525 | 18.8% |
| Fidelity International Credit Central Fund | 17321139 | 1260845 | 463357 | 409614 | (41050) | 6720 | 18084297 | 216190 | 17.6% |
| Fidelity International Equity Central Fund | 1587655349 | 177271358 | 74743023 | 107679783 | 347643 | (77318946) | 1613212381 | 13556407 | 24.5% |
| Fidelity Investment Grade Bond Central Fund | 1254078514 | 223670495 | 41746116 | 29808432 | 21988 | (15027515) | 1420997366 | 14401514 | 3.3% |
| Fidelity Real Estate Equity Central Fund | 14991917 | 878018 | 386555 | 183966 | 8431 | 542525 | 16034336 | 113678 | 1.7% |
| Fidelity Securities Lending Cash Central Fund | - | 2183 | 2183 | 3 | - | - | - | - | 0.0% |
| Fidelity U.S. Equity Central Fund | 2559506196 | 424006281 | 80906083 | 274968321 | (1253307) | (237751970) | 2663601117 | 18782886 | 13.1% |
| Total | 6791639687 | 1128595338 | 580817929 | 439822976 | 15538944 | (268145163) | 7086810877 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 194451123 | 11385288 | - | 72475 | - | (13333711) | 192502700 | 3840836 |
| Fidelity Enhanced Large Cap Value ETF | 48218487 | - | - | 438611 | - | 1984537 | 50203024 | 1438070 |
| Fidelity Enhanced Mid Cap ETF | 77530688 | - | - | 456820 | - | (407492) | 77123196 | 2144694 |
| Fidelity Enhanced Small Cap ETF | 237909118 | - | - | 1138788 | - | 9370600 | 247279718 | 6507361 |
| Fidelity Fundamental Small-Mid Cap ETF | 93334158 | - | - | 255622 | - | 8755070 | 102089228 | 3195281 |
| Fidelity Hedged Equity ETF | 75893852 | 22447165 | - | 316270 | - | (4354385) | 93986632 | 3194651 |
| Fidelity Managed Futures ETF | 18402364 | 19324372 | - | 792729 | - | 3006094 | 40732830 | 709693 |
|  | 745739790 | 53156825 | - | 3471315 | - | 5020713 | 803917328 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 1785662769 | 1785662769 | - | - |
|  **Domestic Equity Funds** | 3573530083 | 3573530083 | - | - |
|  **International Equity Funds** | 2360767199 | 2360767199 | - | - |
|  **U.S. Treasury Obligations** | 6596018 | - | 6596018 | - |
|  **Money Market Funds** | 170768154 | 170768154 | - | - |
| **Total Investments in Securities:** | 7897324223 | 7890728205 | 6596018 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 273332 | 273332 | - | - |
| Total Assets | 273332 | 273332 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (2350121) | (2350121) | - | - |
| Total Liabilities | (2350121) | (2350121) | - | - |
| **Total Derivative Instruments:** | (2076789) | (2076789) | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 146935 | (312989) |
| **Total Equity Risk**  | 146935 | (312989) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 126397 | (2037132) |
| **Total Interest Rate Risk**  | 126397 | (2037132) |
| **Total Value of Derivatives** | 273332 | (2350121) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 70%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $6,596,158) | $6596018 |  |
| Fidelity Central Funds (cost $4,465,166,626) | 7086810877 |  |
| Other affiliated issuers (cost $708,680,803) | 803917328 |  |
| Total Investment in Securities (cost $5,180,443,587) |  | $7897324223 |
| Cash |  | 6 |
| Receivable for investments sold |  | 132 |
| Receivable for fund shares sold |  | 4046132 |
| Distributions receivable from Fidelity Central Funds |  | 475643 |
| Prepaid expenses |  | 2580 |
| Other receivables |  | 3004 |
| **Total assets** |  | 7901851720 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $1025438 |  |
| Payable for fund shares redeemed | 3007814 |  |
| Accrued management fee | 3562071 |  |
| Distribution and service plan fees payable | 109627 |  |
| Payable for variation margin on futures contracts | 2568809 |  |
| Other payables and accrued expenses | 54425 |  |
| **Total liabilities** |  | 10328184 |
| **Net Assets**  |  | $7891523536 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $5226244807 |
| Total accumulated earnings (loss) |  | 2665278729 |
| **Net Assets** |  | $7891523536 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($258,252,711 ÷ 8,669,095 shares)(a) |  | $29.79 |
| Maximum offering price per share (100/94.25 of $29.79) |  | $31.61 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($75,052,615 ÷ 2,518,005 shares)(a) |  | $29.81 |
| Maximum offering price per share (100/96.50 of $29.81) |  | $30.89 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($27,749,206 ÷ 932,629 shares)(a) |  | $29.75 |
| **Asset Manager 70% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($4,638,853,476 ÷ 155,232,370 shares) |  | $29.88 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($71,333,968 ÷ 2,387,908 shares) |  | $29.87 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,820,281,560 ÷ 94,632,603 shares) |  | $29.80 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $3,471,315 earned from affiliated issuers) |  | $3471315 |
| Interest  |  | 84713 |
| Income from Fidelity Central Funds (including $3 from security lending)  |  | 90531248 |
| **Total income** |  | 94087276 |
| **Expenses** |  |  |
| Management fee | $22890403 |  |
| Distribution and service plan fees | 667621 |  |
| Custodian fees and expenses | 19800 |  |
| Independent trustees' fees and expenses | 9119 |  |
| Registration fees | 123450 |  |
| Audit fees | 16529 |  |
| Legal | 5599 |  |
| Miscellaneous | 12014 |  |
| Total expenses before reductions | 23744535 |  |
| Expense reductions | (1598007) |  |
| Total expenses after reductions |  | 22146528 |
| **Net Investment income (loss)** |  | 71940748 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (90) |  |
| Fidelity Central Funds | 15538944 |  |
| Futures contracts | (201525) |  |
| Capital gain distributions from Fidelity Central Funds | 349291728 |  |
| Total net realized gain (loss) |  | 364629057 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (995) |  |
| Fidelity Central Funds  | (268145163) |  |
| Other affiliated issuers  | 5020713 |  |
| Futures contracts | (2020915) |  |
| Total change in net unrealized appreciation (depreciation) |  | (265146360) |
| **Net gain (loss)** |  | 99482697 |
| **Net increase (decrease) in net assets resulting from operations** |  | $171423445 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $71940748 | $132221614 |
| &nbsp;&nbsp;Net realized gain (loss) | 364629057<br>| 569510881<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (265146360) | 146796570<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 171423445<br>| 848529065<br>|
| Distributions to shareholders | (547297551)<br>| (303279267)<br>|
| Share transactions - net increase (decrease) | 724383483<br>| 50952894<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 348509377<br>| 596202692<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 7543014159 | 6946811467<br>|
| &nbsp;&nbsp;End of period | $7891523536 | $7543014159 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 70% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.23 | $28.97 | $23.75 | $22.33 | $28.33 | $23.67 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .24  | .46  | .41  | .39  | .40  | .21  |
| Net realized and unrealized gain (loss)  | .44  | 2.97  | 5.18  | 2.47  | (5.69)  | 4.95  |
| Total from investment operations  | .68  | 3.43  | 5.59  | 2.86  | (5.29)  | 5.16  |
| Distributions from net investment income  | (.50)  | (.43)  | (.37)  | (.42)  | (.31)  | (.18)  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (2.12) C | (1.17)  | (.37)  | (1.44)  | (.71)  | (.50)  |
| Net asset value, end of period  | $29.79 | $31.23 | $28.97 | $23.75 | $22.33 | $28.33 |
| **Total Return** D,E,F | 2.10% <br>| 12.41%  | 23.74%  | 13.13%  | (19.23)%  | 21.99%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .90% I | .91%  | .94%  | .97%  | .96%  | .96%  |
| Expenses net of fee waivers, if any  | .86% I<br>| .88%  | .93%  | .96%  | .96%  | .96%  |
| Expenses net of all reductions, if any  | .86% I | .88%  | .93%  | .96%  | .96%  | .96%  |
| Net investment income (loss)  | 1.52% I | 1.60%  | 1.54%  | 1.61%  | 1.50%  | .76%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $258253 | $256145 | $246959 | $204082 | $179830 | $219595 |
| Portfolio turnover rate J | 11% I<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 70% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.20 | $28.94 | $23.73 | $22.30 | $28.30 | $23.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .20  | .39  | .34  | .33  | .33  | .14  |
| Net realized and unrealized gain (loss)  | .44  | 2.97  | 5.18  | 2.47  | (5.69)  | 4.96  |
| Total from investment operations  | .64  | 3.36  | 5.52  | 2.80  | (5.36)  | 5.10  |
| Distributions from net investment income  | (.41)  | (.36)  | (.31)  | (.35)  | (.24)  | (.13)  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (2.03) C | (1.10)  | (.31)  | (1.37)  | (.64)  | (.45)  |
| Net asset value, end of period  | $29.81 | $31.20 | $28.94 | $23.73 | $22.30 | $28.30 |
| **Total Return** D,E,F | 1.99% <br>| 12.15%  | 23.42%  | 12.86%  | (19.45)%  | 21.71%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.15% I | 1.16%  | 1.18%  | 1.21%  | 1.21%  | 1.21%  |
| Expenses net of fee waivers, if any  | 1.11% I<br>| 1.13%  | 1.17%  | 1.21%  | 1.20%  | 1.21%  |
| Expenses net of all reductions, if any  | 1.11% I | 1.13%  | 1.17%  | 1.21%  | 1.20%  | 1.21%  |
| Net investment income (loss)  | 1.27% I | 1.35%  | 1.29%  | 1.37%  | 1.25%  | .51%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $75053 | $76747 | $75739 | $66988 | $62915 | $80784 |
| Portfolio turnover rate J | 11% I<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 70% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.05 | $28.79 | $23.60 | $22.18 | $28.12 | $23.50 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .24  | .21  | .20  | .19  | -  |
| Net realized and unrealized gain (loss)  | .44  | 2.97  | 5.15  | 2.46  | (5.66)  | 4.94  |
| Total from investment operations  | .56  | 3.21  | 5.36  | 2.66  | (5.47)  | 4.94  |
| Distributions from net investment income  | (.23)  | (.21)  | (.17)  | (.22)  | (.07)  | -  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (1.86)  | (.95)  | (.17)  | (1.24)  | (.47)  | (.32)  |
| Net asset value, end of period  | $29.75 | $31.05 | $28.79 | $23.60 | $22.18 | $28.12 |
| **Total Return** C,D,E | 1.71% <br>| 11.59%  | 22.78%  | 12.25%  | (19.84)%  | 21.12%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.65% H | 1.66%  | 1.68%  | 1.72%  | 1.72%  | 1.72%  |
| Expenses net of fee waivers, if any  | 1.61% H<br>| 1.63%  | 1.67%  | 1.72%  | 1.72%  | 1.72%  |
| Expenses net of all reductions, if any  | 1.61% H | 1.63%  | 1.67%  | 1.72%  | 1.72%  | 1.72%  |
| Net investment income (loss)  | .77% H | .85%  | .80%  | .85%  | .74%  | -%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $27749 | $29318 | $31379 | $31474 | $29116 | $44170 |
| Portfolio turnover rate I | 11% H<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the contingent deferred sales charge.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 70%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.36 | $29.09 | $23.85 | $22.42 | $28.43 | $23.74 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .28  | .54  | .49  | .46  | .48  | .29  |
| Net realized and unrealized gain (loss)  | .45  | 2.99  | 5.19  | 2.48  | (5.70)  | 4.97  |
| Total from investment operations  | .73  | 3.53  | 5.68  | 2.94  | (5.22)  | 5.26  |
| Distributions from net investment income  | (.58)  | (.52)  | (.44)  | (.48)  | (.39)  | (.26)  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (2.21)  | (1.26)  | (.44)  | (1.51) C | (.79)  | (.57) C |
| Net asset value, end of period  | $29.88 | $31.36 | $29.09 | $23.85 | $22.42 | $28.43 |
| **Total Return** D,E | 2.24% <br>| 12.75%  | 24.06%  | 13.46%  | (18.98)%  | 22.39%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .60% H | .62%  | .65%  | .67%  | .67%  | .66%  |
| Expenses net of fee waivers, if any  | .56% H<br>| .59%  | .64%  | .67%  | .66%  | .66%  |
| Expenses net of all reductions, if any  | .56% H | .59%  | .64%  | .67%  | .66%  | .66%  |
| Net investment income (loss)  | 1.81% H | 1.90%  | 1.83%  | 1.90%  | 1.79%  | 1.06%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $4638853 | $4561357 | $4273012 | $3733445 | $3518486 | $4523497 |
| Portfolio turnover rate I | 11% H<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 70% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.34 | $29.10 | $23.86 | $22.43 | $28.46 | $23.75 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .28  | .53  | .48  | .45  | .47  | .28  |
| Net realized and unrealized gain (loss)  | .44  | 2.99  | 5.20  | 2.48  | (5.71)  | 4.98  |
| Total from investment operations  | .72  | 3.52  | 5.68  | 2.93  | (5.24)  | 5.26  |
| Distributions from net investment income  | (.56)  | (.54)  | (.44)  | (.48)  | (.39)  | (.24)  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (2.19)  | (1.28)  | (.44)  | (1.50)  | (.79)  | (.55) C |
| Net asset value, end of period  | $29.87 | $31.34 | $29.10 | $23.86 | $22.43 | $28.46 |
| **Total Return** D,E | 2.21% <br>| 12.72%  | 24.03%  | 13.43%  | (19.03)%  | 22.37%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .65% H | .66%  | .68%  | .70%  | .69%  | .69%  |
| Expenses net of fee waivers, if any  | .61% H<br>| .63%  | .67%  | .69%  | .69%  | .69%  |
| Expenses net of all reductions, if any  | .61% H | .63%  | .67%  | .69%  | .69%  | .69%  |
| Net investment income (loss)  | 1.77% H | 1.85%  | 1.79%  | 1.88%  | 1.76%  | 1.03%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $71334 | $72930 | $60598 | $46254 | $43240 | $54440 |
| Portfolio turnover rate I | 11% H<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 70% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $31.30 | $29.05 | $23.82 | $22.39 | $28.41 | $23.72 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .29  | .56  | .51  | .48  | .49  | .32  |
| Net realized and unrealized gain (loss)  | .45  | 2.98  | 5.19  | 2.48  | (5.68)  | 4.96  |
| Total from investment operations  | .74  | 3.54  | 5.70  | 2.96  | (5.19)  | 5.28  |
| Distributions from net investment income  | (.62)  | (.55)  | (.47)  | (.50)  | (.42)  | (.27)  |
| Distributions from net realized gain  | (1.63)  | (.74)  | -  | (1.02)  | (.40)  | (.32)  |
| Total distributions  | (2.24) C | (1.29)  | (.47)  | (1.53) C | (.83) C | (.59)  |
| Net asset value, end of period  | $29.80 | $31.30 | $29.05 | $23.82 | $22.39 | $28.41 |
| **Total Return** D,E | 2.29% <br>| 12.82%  | 24.16%  | 13.58%  | (18.94)%  | 22.48%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .54% H | .55%  | .57%  | .59%  | .59%  | .59%  |
| Expenses net of fee waivers, if any  | .50% H<br>| .51%  | .56%  | .59%  | .59%  | .59%  |
| Expenses net of all reductions, if any  | .50% H | .51%  | .56%  | .59%  | .59%  | .59%  |
| Net investment income (loss)  | 1.88% H | 1.97%  | 1.91%  | 1.98%  | 1.86%  | 1.13%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2820282 | $2546517 | $2259123 | $1929418 | $1698474 | $1972441 |
| Portfolio turnover rate I | 11% H<br>| 29%  | 14%  | 19%  | 23%  | 20%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 85%**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 12.4%** | &nbsp;&nbsp;**Bond Funds - 12.4%** | &nbsp;&nbsp;**Bond Funds - 12.4%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Debt Local Currency Central Fund (d) | 974491 | 88746889 |
| Fidelity Floating Rate Central Fund (d) | 170092 | 15985265 |
| Fidelity High Income Central Fund (d) | 437932 | 47892288 |
| Fidelity Inflation-Protected Bond Index Central Fund (d) | 1289543 | 116084702 |
| Fidelity International Credit Central Fund (d) | 162961 | 13631657 |
| Fidelity Investment Grade Bond Central Fund (d) | 4730796 | 466787670 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $743,257,648) |  | **749128471** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 53.6%** | &nbsp;&nbsp;**Domestic Equity Funds - 53.6%** | &nbsp;&nbsp;**Domestic Equity Funds - 53.6%** |
|  | Shares | Value ($)<br>|
| Fidelity Blue Chip Growth ETF (b)(c) | 3621678 | 181518501 |
| Fidelity Commodity Strategy Central Fund (d) | 613474 | 69163024 |
| Fidelity Enhanced Large Cap Value ETF (b)(c) | 1266344 | 44208069 |
| Fidelity Enhanced Mid Cap ETF (c) | 2134785 | 76766869 |
| Fidelity Enhanced Small Cap ETF (b)(c) | 5563343 | 211407034 |
| Fidelity Fundamental Small-Mid Cap ETF (b)(c) | 2770327 | 88511948 |
| Fidelity Hedged Equity ETF (c) | 2463288 | 72469933 |
| Fidelity Managed Futures ETF (c) | 504048 | 28929835 |
| Fidelity Real Estate Equity Central Fund (d) | 86615 | 12217109 |
| Fidelity U.S. Equity Central Fund (d) | 17282965 | 2450897225 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $1,982,679,727) |  | **3236089547** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 33.7%** | &nbsp;&nbsp;**International Equity Funds - 33.7%** | &nbsp;&nbsp;**International Equity Funds - 33.7%** |
|  | Shares | Value ($)<br>|
| Fidelity Emerging Markets Equity Central Fund (d) | 2183315 | 657942083 |
| Fidelity International Equity Central Fund (d) | 11545752 | 1373944433 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $1,464,532,712) |  | **2031886516** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 4/16/2026 (f) | 3.57 to 3.60 | 40000 | 39940 |
| US Treasury Bills 0% 4/2/2026 (f) | 3.56 to 3.58 | 3130000 | 3129685 |
| US Treasury Bills 0% 4/23/2026 (f) | 3.61 to 3.63 | 110000 | 109756 |
| US Treasury Bills 0% 4/30/2026 (f) | 3.59 to 3.61 | 2480000 | 2472749 |
| US Treasury Bills 0% 4/9/2026 (f) | 3.54 to 3.55 | 2390000 | 2388082 |
| US Treasury Bills 0% 5/14/2026 (f) | 3.64 | 200000 | 199130 |
| US Treasury Bills 0% 5/21/2026 (f) | 3.64 | 1850000 | 1840678 |
| US Treasury Bills 0% 5/28/2026 (f) | 3.62 | 50000 | 49712 |
| US Treasury Bills 0% 5/7/2026 (f) | 3.62 | 860000 | 856867 |
| US Treasury Bills 0% 6/4/2026 (f) | 3.63 | 180000 | 178844 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $11,265,734) |  |  | **11265443** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 3.69 | 8347849 | 8349519 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 7639161 | 7639924 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $15,989,443) |  |  | **15989443** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $4,217,725,264)<br>| <br>**6044359420** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(6158504)** |
| **NET ASSETS - 100.0%** | **6038200916** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini S&P 500 Index Contracts (United States) | 201 | 6/2026 | 66036038 | (1441481) |
| ICE MSCI EAFE Index Contracts (United States) | 371 | 6/2026 | 53815405 | 112701 |
| ICE MSCI Emerging Markets Index Contracts (United States) | 244 | 6/2026 | 17746120 | (116018) |
| **TOTAL EQUITY CONTRACTS** |  |  |  | (1444798) |
| Interest Rate Contracts |  |  |  |  |
| CBOT 10Y US Treasury Notes Contracts (United States) | 820 | 6/2026 | 91020000 | (1558254) |
| CBOT US Treasury Ultra Bond Contracts (United States) | 255 | 6/2026 | 29659688 | 96624 |
| **TOTAL INTEREST RATE CONTRACTS** |  |  |  | (1461630) |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **(2906428)** |
| The notional amount of long futures as a percentage of Net Assets is 4.3%. | The notional amount of long futures as a percentage of Net Assets is 4.3%. | The notional amount of long futures as a percentage of Net Assets is 4.3%. | The notional amount of long futures as a percentage of Net Assets is 4.3%. | The notional amount of long futures as a percentage of Net Assets is 4.3%. |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

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

(c) Affiliated fund.

(d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, other than the Commodity Strategy Central Fund, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(f) 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 $10,644,505.

(g) 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.

(h) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 22840160 | 109100025 | 123590678 | 303481 | 12 | - | 8349519 | 8347849 | 0.0% |
| Fidelity Commodity Strategy Central Fund | 39606481 | 20116593 | 900501 | 586281 | 20770 | 10319681 | 69163024 | 613474 | 12.5% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 62695648 | 33614449 | 4015721 | 4489390 | (236501) | (3310986) | 88746889 | 974491 | 14.6% |
| Fidelity Emerging Markets Equity Central Fund | 607339096 | 78476013 | 88840027 | 7031685 | 6141480 | 54825521 | 657942083 | 2183315 | 21.1% |
| Fidelity Floating Rate Central Fund | 36513619 | 4247809 | 24234865 | 1031968 | (623502) | 82204 | 15985265 | 170092 | 0.8% |
| Fidelity High Income Central Fund | 90045211 | 10168954 | 51885327 | 2396550 | 1539874 | (1976424) | 47892288 | 437932 | 3.3% |
| Fidelity Inflation-Protected Bond Index Central Fund | 101436842 | 19024017 | 1929702 | 3449351 | (11029) | (2435426) | 116084702 | 1289543 | 14.7% |
| Fidelity International Credit Central Fund | 12056215 | 1869539 | 259657 | 289668 | 73 | (34513) | 13631657 | 162961 | 13.3% |
| Fidelity International Equity Central Fund | 1318291966 | 240597516 | 119967553 | 89688031 | (900467) | (64077029) | 1373944433 | 11545752 | 20.9% |
| Fidelity Investment Grade Bond Central Fund | 362163183 | 121873450 | 12295199 | 9452321 | 45385 | (4999149) | 466787670 | 4730796 | 1.1% |
| Fidelity Real Estate Equity Central Fund | 10593936 | 1423086 | 217274 | 133715 | 1923 | 415438 | 12217109 | 86615 | 1.3% |
| Fidelity Securities Lending Cash Central Fund | 7598550 | 348469105 | 348429106 | 151823 | 1375 | - | 7639924 | 7639161 | 0.0% |
| Fidelity U.S. Equity Central Fund | 2115955145 | 606805805 | 59406498 | 236370242 | (2121260) | (210335967) | 2450897225 | 17282965 | 12.1% |
| Total | 4787136052 | 1595786361 | 835972108 | 355374506 | 3858133 | (221526650) | 5329281788 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Blue Chip Growth ETF | 155349295 | 39045277 | - | 58165 | - | (12876071) | 181518501 | 3621678 |
| Fidelity Enhanced Large Cap Value ETF | 38195867 | 4549164 | - | 368684 | - | 1463038 | 44208069 | 1266344 |
| Fidelity Enhanced Mid Cap ETF | 61755117 | 15675625 | - | 410375 | - | (663873) | 76766869 | 2134785 |
| Fidelity Enhanced Small Cap ETF | 188890019 | 15532047 | - | 942163 | - | 6984968 | 211407034 | 5563343 |
| Fidelity Fundamental Small-Mid Cap ETF | 74335244 | 7239256 | - | 213096 | - | 6937448 | 88511948 | 2770327 |
| Fidelity Hedged Equity ETF | 52168088 | 23617005 | - | 237421 | - | (3315160) | 72469933 | 2463288 |
| Fidelity Managed Futures ETF | 12617660 | 14190911 | - | 563022 | - | 2121264 | 28929835 | 504048 |
|  | 583311290 | 119849285 | - | 2792926 | - | 651614 | 703812189 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 749128471 | 749128471 | - | - |
|  **Domestic Equity Funds** | 3236089547 | 3236089547 | - | - |
|  **International Equity Funds** | 2031886516 | 2031886516 | - | - |
|  **U.S. Treasury Obligations** | 11265443 | - | 11265443 | - |
|  **Money Market Funds** | 15989443 | 15989443 | - | - |
| **Total Investments in Securities:** | 6044359420 | 6033093977 | 11265443 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 209325 | 209325 | - | - |
| Total Assets | 209325 | 209325 | - | - |
|  **Liabilities** |  |  |  |  |
| Futures Contracts | (3115753) | (3115753) | - | - |
| Total Liabilities | (3115753) | (3115753) | - | - |
| **Total Derivative Instruments:** | (2906428) | (2906428) | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 112701 | (1557499) |
| **Total Equity Risk**  | 112701 | (1557499) |
| **Interest Rate Risk** |  |  |
| Futures Contracts (a)  | 96624 | (1558254) |
| **Total Interest Rate Risk**  | 96624 | (1558254) |
| **Total Value of Derivatives** | 209325 | (3115753) |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity Asset Manager® 85%**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $7,778,703) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $11,265,734) | $11265443 |  |
| Fidelity Central Funds (cost $3,571,547,794) | 5329281788 |  |
| Other affiliated issuers (cost $634,911,736) | 703812189 |  |
| Total Investment in Securities (cost $4,217,725,264) |  | $6044359420 |
| Receivable for investments sold |  | 383439 |
| Receivable for fund shares sold |  | 2386709 |
| Distributions receivable from Fidelity Central Funds |  | 67598 |
| Receivable for variation margin on futures contracts |  | 4310311 |
| Prepaid expenses |  | 1777 |
| Other receivables |  | 5 |
| **Total assets** |  | 6051509259 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $49134 |  |
| Payable for fund shares redeemed | 2718549 |  |
| Accrued management fee | 2684082 |  |
| Distribution and service plan fees payable | 126066 |  |
| Other payables and accrued expenses | 91962 |  |
| Collateral on securities loaned | 7638550 |  |
| **Total liabilities** |  | 13308343 |
| **Net Assets**  |  | $6038200916 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $4118732376 |
| Total accumulated earnings (loss) |  | 1919468540 |
| **Net Assets** |  | $6038200916 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($302,096,318 ÷ 10,220,388 shares)(a) |  | $29.56 |
| Maximum offering price per share (100/94.25 of $29.56) |  | $31.36 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($57,041,429 ÷ 1,945,342 shares)(a) |  | $29.32 |
| Maximum offering price per share (100/96.50 of $29.32) |  | $30.38 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($44,937,328 ÷ 1,552,350 shares)(a) |  | $28.95 |
| **Asset Manager 85% :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,772,200,025 ÷ 92,473,122 shares) |  | $29.98 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($94,874,300 ÷ 3,178,451 shares) |  | $29.85 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,767,051,516 ÷ 93,025,001 shares) |  | $29.75 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $2,792,926 earned from affiliated issuers) |  | $2792926 |
| Interest  |  | 203080 |
| Income from Fidelity Central Funds (including $151,823 from security lending)  |  | 57650253 |
| **Total income** |  | 60646259 |
| **Expenses** |  |  |
| Management fee | $16969582 |  |
| Distribution and service plan fees | 759893 |  |
| Custodian fees and expenses | 19292 |  |
| Independent trustees' fees and expenses | 6665 |  |
| Registration fees | 137133 |  |
| Audit fees | 16466 |  |
| Legal | 4019 |  |
| Miscellaneous | 8551 |  |
| Total expenses before reductions | 17921601 |  |
| Expense reductions | (1286665) |  |
| Total expenses after reductions |  | 16634936 |
| **Net Investment income (loss)** |  | 44011323 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (557) |  |
| Fidelity Central Funds | 3858133 |  |
| Futures contracts | 4920143 |  |
| Capital gain distributions from Fidelity Central Funds | 297724253 |  |
| Total net realized gain (loss) |  | 306501972 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (958) |  |
| Fidelity Central Funds  | (221526650) |  |
| Other affiliated issuers  | 651614 |  |
| Futures contracts | (4616825) |  |
| Total change in net unrealized appreciation (depreciation) |  | (225492819) |
| **Net gain (loss)** |  | 81009153 |
| **Net increase (decrease) in net assets resulting from operations** |  | $125020476 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $44011323 | $74919447 |
| &nbsp;&nbsp;Net realized gain (loss) | 306501972<br>| 261237822<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (225492819) | 337874919<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 125020476<br>| 674032188<br>|
| Distributions to shareholders | (316174275)<br>| (153536321)<br>|
| Share transactions - net increase (decrease) | 860520922<br>| 453532448<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 669367123<br>| 974028315<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 5368833793 | 4394805478<br>|
| &nbsp;&nbsp;End of period | $6038200916 | $5368833793 |

---

**Financial Highlights** 

**Fidelity Advisor Asset Manager® 85% Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $30.46 | $27.46 | $21.89 | $19.79 | $25.79 | $20.73 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .18  | .36  | .30  | .27  | .30  | .16  |
| Net realized and unrealized gain (loss)  | .52  | 3.47  | 5.53  | 2.82  | (5.52)  | 5.31  |
| Total from investment operations  | .70  | 3.83  | 5.83  | 3.09  | (5.22)  | 5.47  |
| Distributions from net investment income  | (.38)  | (.31)  | (.26)  | (.32)  | (.24)  | (.13)  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.28)  |
| Total distributions  | (1.60)  | (.83)  | (.26)  | (.99)  | (.78)  | (.41)  |
| Net asset value, end of period  | $29.56 | $30.46 | $27.46 | $21.89 | $19.79 | $25.79 |
| **Total Return** C,D,E | 2.21% <br>| 14.46%  | 26.82%  | 15.95%  | (21.00)%  | 26.59%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .91% H | .92%  | .95%  | .98%  | .97%  | .98%  |
| Expenses net of fee waivers, if any  | .86% H<br>| .88%  | .94%  | .97%  | .97%  | .98%  |
| Expenses net of all reductions, if any  | .86% H | .88%  | .94%  | .97%  | .97%  | .98%  |
| Net investment income (loss)  | 1.20% H | 1.31%  | 1.23%  | 1.22%  | 1.24%  | .64%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $302096 | $294454 | $263937 | $202554 | $165075 | $191715 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 85% Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $30.19 | $27.23 | $21.70 | $19.62 | $25.58 | $20.57 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .14  | .29  | .24  | .21  | .24  | .09  |
| Net realized and unrealized gain (loss)  | .52  | 3.43  | 5.49  | 2.80  | (5.48)  | 5.28  |
| Total from investment operations  | .66  | 3.72  | 5.73  | 3.01  | (5.24)  | 5.37  |
| Distributions from net investment income  | (.31)  | (.24)  | (.20)  | (.26)  | (.18)  | (.08)  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.28)  |
| Total distributions  | (1.53)  | (.76)  | (.20)  | (.93)  | (.72)  | (.36)  |
| Net asset value, end of period  | $29.32 | $30.19 | $27.23 | $21.70 | $19.62 | $25.58 |
| **Total Return** C,D,E | 2.10% <br>| 14.12%  | 26.56%  | 15.62%  | (21.21)%  | 26.30%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.16% H | 1.17%  | 1.19%  | 1.23%  | 1.22%  | 1.23%  |
| Expenses net of fee waivers, if any  | 1.11% H<br>| 1.13%  | 1.18%  | 1.22%  | 1.22%  | 1.23%  |
| Expenses net of all reductions, if any  | 1.11% H | 1.13%  | 1.18%  | 1.22%  | 1.22%  | 1.23%  |
| Net investment income (loss)  | .95% H | 1.06%  | .98%  | .97%  | 1.00%  | .39%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $57041 | $56949 | $52210 | $46123 | $42034 | $54864 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 85% Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $29.76 | $26.84 | $21.40 | $19.36 | $25.24 | $20.31 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .15  | .12  | .10  | .11  | (.03)  |
| Net realized and unrealized gain (loss)  | .50  | 3.40  | 5.41  | 2.76  | (5.42)  | 5.21  |
| Total from investment operations  | .57  | 3.55  | 5.53  | 2.86  | (5.31)  | 5.18  |
| Distributions from net investment income  | (.16)  | (.11)  | (.09)  | (.15)  | (.03)  | -  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.25)  |
| Total distributions  | (1.38)  | (.63)  | (.09)  | (.82)  | (.57)  | (.25)  |
| Net asset value, end of period  | $28.95 | $29.76 | $26.84 | $21.40 | $19.36 | $25.24 |
| **Total Return** C,D,E | 1.84% <br>| 13.59%  | 25.90%  | 15.00%  | (21.61)%  | 25.65%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.66% H | 1.67%  | 1.69%  | 1.74%  | 1.74%  | 1.74%  |
| Expenses net of fee waivers, if any  | 1.61% H<br>| 1.63%  | 1.68%  | 1.74%  | 1.73%  | 1.74%  |
| Expenses net of all reductions, if any  | 1.61% H | 1.63%  | 1.68%  | 1.74%  | 1.73%  | 1.74%  |
| Net investment income (loss)  | .45% H | .56%  | .48%  | .46%  | .48%  | (.13)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $44937 | $45473 | $44716 | $39038 | $36141 | $49896 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the contingent deferred sales charge.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Asset Manager® 85%** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $30.90 | $27.85 | $22.18 | $20.05 | $26.10 | $20.96 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .23  | .45  | .38  | .33  | .37  | .23  |
| Net realized and unrealized gain (loss)  | .53  | 3.51  | 5.61  | 2.85  | (5.58)  | 5.38  |
| Total from investment operations  | .76  | 3.96  | 5.99  | 3.18  | (5.21)  | 5.61  |
| Distributions from net investment income  | (.47)  | (.39)  | (.32)  | (.38)  | (.30)  | (.19)  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.28)  |
| Total distributions  | (1.68) C | (.91)  | (.32)  | (1.05)  | (.84)  | (.47)  |
| Net asset value, end of period  | $29.98 | $30.90 | $27.85 | $22.18 | $20.05 | $26.10 |
| **Total Return** D,E | 2.39% <br>| 14.76%  | 27.23%  | 16.21%  | (20.76)%  | 27.00%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .61% H | .62%  | .66%  | .70%  | .69%  | .68%  |
| Expenses net of fee waivers, if any  | .57% H<br>| .59%  | .65%  | .69%  | .68%  | .68%  |
| Expenses net of all reductions, if any  | .57% H | .59%  | .65%  | .69%  | .68%  | .68%  |
| Net investment income (loss)  | 1.50% H | 1.61%  | 1.51%  | 1.50%  | 1.53%  | .94%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2772200 | $2623571 | $2341235 | $1892890 | $1697192 | $2185948 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 85% Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $30.79 | $27.76 | $22.11 | $19.99 | $26.03 | $20.91 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .43  | .37  | .33  | .36  | .22  |
| Net realized and unrealized gain (loss)  | .52  | 3.51  | 5.60  | 2.84  | (5.56)  | 5.36  |
| Total from investment operations  | .74  | 3.94  | 5.97  | 3.17  | (5.20)  | 5.58  |
| Distributions from net investment income  | (.47)  | (.38)  | (.32)  | (.38)  | (.30)  | (.18)  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.28)  |
| Total distributions  | (1.68) C | (.91) C | (.32)  | (1.05)  | (.84)  | (.46)  |
| Net asset value, end of period  | $29.85 | $30.79 | $27.76 | $22.11 | $19.99 | $26.03 |
| **Total Return** D,E | 2.34% <br>| 14.71%  | 27.20%  | 16.19%  | (20.78)%  | 26.93%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .66% H | .67%  | .68%  | .72%  | .71%  | .71%  |
| Expenses net of fee waivers, if any  | .61% H<br>| .63%  | .68%  | .71%  | .71%  | .71%  |
| Expenses net of all reductions, if any  | .61% H | .63%  | .68%  | .71%  | .71%  | .71%  |
| Net investment income (loss)  | 1.45% H | 1.56%  | 1.49%  | 1.48%  | 1.50%  | .90%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $94874 | $84344 | $64912 | $58137 | $51528 | $60989 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor Asset Manager® 85% Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $30.71 | $27.70 | $22.06 | $19.95 | $25.99 | $20.87 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .24  | .46  | .40  | .35  | .39  | .26  |
| Net realized and unrealized gain (loss)  | .52  | 3.50  | 5.59  | 2.83  | (5.55)  | 5.34  |
| Total from investment operations  | .76  | 3.96  | 5.99  | 3.18  | (5.16)  | 5.60  |
| Distributions from net investment income  | (.51)  | (.43)  | (.35)  | (.40)  | (.34)  | (.21)  |
| Distributions from net realized gain  | (1.22)  | (.52)  | -  | (.67)  | (.54)  | (.28)  |
| Total distributions  | (1.72) C | (.95)  | (.35)  | (1.07)  | (.88)  | (.48) C |
| Net asset value, end of period  | $29.75 | $30.71 | $27.70 | $22.06 | $19.95 | $25.99 |
| **Total Return** D,E | 2.41% <br>| 14.86%  | 27.36%  | 16.31%  | (20.71)%  | 27.11%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .54% H | .55%  | .58%  | .60%  | .60%  | .60%  |
| Expenses net of fee waivers, if any  | .50% H<br>| .52%  | .57%  | .60%  | .59%  | .60%  |
| Expenses net of all reductions, if any  | .50% H | .52%  | .57%  | .60%  | .59%  | .60%  |
| Net investment income (loss)  | 1.56% H | 1.68%  | 1.60%  | 1.60%  | 1.62%  | 1.01%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2767052 | $2264043 | $1627796 | $1220964 | $1094119 | $1258721 |
| Portfolio turnover rate I | 12% H<br>| 29%  | 16%  | 24%  | 27%  | 18%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended March 31, 2026

**1. Organization.**

Fidelity Asset Manager 20%, Fidelity Asset Manager 30%, Fidelity Asset Manager 40%, Fidelity Asset Manager 50%, Fidelity Asset Manager 60%, Fidelity Asset Manager 70% and Fidelity Asset Manager 85% (the Funds) are funds of Fidelity Charles Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Class A, Class M, Class C, Asset Manager, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Each Fund is a fund of funds, and therefore invests in other funds instead of individual securities. Each Fund invests primarily in a combination of Fidelity Central funds and exchange-traded funds.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Commodity Strategy Central Fund | Geode Capital Management, LLC (Geode) | Seeks to provide investment returns that correspond to the performance of the commodities market. | Investment in commodity-related investments through a wholly-owned subsidiary organized under the laws of the Cayman Islands<br> Futures<br> Swaps | 0.01% |
| Fidelity Emerging Markets Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in equity securities of issuers in emerging markets. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Loans & Direct Debt Instruments  | 0.02% |
| Fidelity International Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in non-U.S. based common stocks, including securities of issuers located in emerging markets. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Futures<br> Loans & Direct Debt Instruments | 0.01% |
| Fidelity Floating Rate Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in floating rate loans and other floating rate securities. | Delayed Delivery & When Issued Securities<br> Foreign Securities<br> Loans & Direct Debt Instruments<br> Restricted Securities | Less than .005% |
| Fidelity High Income Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. | Foreign Securities<br> Futures<br> Loans & Direct Debt Instruments<br> Restricted Securities | Less than .005% |
| Fidelity Inflation-Protected Bond Index Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks to provide investment results that correspond to the performance of the inflation-protected United States Treasury market, and may invest in derivatives. |  | Less than .005% |
| Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities<br> Futures<br> Options<br> Restricted Securities<br> Swaps | Less than .005% |
| Fidelity Real Estate Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks above-average income and long-term capital growth by investing primarily in equity securities of issuers in the real estate industry. |  | Less than .005% |
| Fidelity International Credit Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of current income by normally investing in debt securities of foreign issuers, including debt securities of issuers located in emerging markets. Foreign currency exposure is hedged utilizing foreign currency contracts. | Foreign Securities<br> Futures<br> Restricted Securities<br> Swaps<br> Forward Foreign Currency Contracts | 0.01% |
| Fidelity U.S. Equity Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks capital appreciation by investing primarily in common stocks, allocated across different market sectors. | Foreign Securities<br> Futures<br> Restricted Securities | Less than .005% |
| Fidelity Emerging Markets Debt Local Currency Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks high total return by normally<br> investing in debt securities of issuers in emerging markets and other debt investments that are tied economically to emerging markets and denominated in the local currency of the issuer. | Foreign Securities<br> Restricted Securities Forward Foreign Currency Contracts<br>| 0.02% |
| 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% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

An unaudited holdings listing for the investing fund, which presents direct holdings as well as the pro-rata share of any securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Each Fund operates as a single operating segment. Each Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, each Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

Each Fund categorizes the inputs to valuation techniques used to value its investments 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 each Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Exchange-Traded Funds (ETFs) are valued at their last sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

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 (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. The aggregate value of investments by input level as of March 31, 2026 is included at the end of each Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends as applicable. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable as applicable.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to the short-term gain distributions from the underlying mutual funds or ETFs, futures contracts, foreign currency transactions, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Tax cost ($)**  | **Gross unrealized appreciation ($)** | **Gross unrealized depreciation ($)** | **Net unrealized appreciation (depreciation)($)** |
| **Fidelity Asset Manager 20%** | 5636405210 | 667007978 | (180247113) | 486760865 |
| **Fidelity Asset Manager 30%** | 1944160907 | 310311668 | (83283025) | 227028643 |
| **Fidelity Asset Manager 40%** | 2227091689 | 469823834 | (80397437) | 389426397 |
| **Fidelity Asset Manager 50%** | 7905406299 | 2532587812 | (247280854) | 2285306958 |
| **Fidelity Asset Manager 60%** | 3990224948 | 1176270966 | (96704134) | 1079566832 |
| **Fidelity Asset Manager 70%** | 5600255170 | 2377915250 | (82922986) | 2294992264 |
| **Fidelity Asset Manager 85%** | 4423376135 | 1667256454 | (49179597) | 1618076857 |

---

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | | |
|:---|:---|:---|
|  | **Short-term ($)** | **Total capital loss carryforward ($)** |
| **Fidelity Asset Manager 20%** | (95513891) | (95513891) |
| **Fidelity Asset Manager 30%** | (12661020) | (12661020) |

---

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** Each Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.

Derivatives were used to increase or decrease exposure to the following risk(s):

---

| | |
|:---|:---|
| Equity Risk  | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.<br>|
| Interest Rate Risk  | Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates. |

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

**Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives.** The table below, which reflects the impacts of derivatives on the financial performance, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period as presented in the Statement of Operations.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** | **Net Realized Gain (Loss)($)** | **Change in Net Unrealized Appreciation (Depreciation)($)** |
| **Fidelity Asset Manager 20%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(729442)</u> | <u>8870524</u> |
| **Total Equity Risk** | <u>(729442)</u> | <u>8870524</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; <u>998711</u> | <u>(1752454)</u> |
| **Total Interest Rate Risk** | &nbsp;&nbsp;&nbsp;&nbsp; <u>998711</u> | <u>(1752454)</u> |
| Totals | &nbsp;&nbsp;&nbsp;&nbsp; <u>269269</u> | <u>7118070</u> |
| **Fidelity Asset Manager 30%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(1496866)</u> | <u>2933583</u> |
| **Total Equity Risk** | <u>(1496866)</u> | <u>2933583</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; <u>348740</u> | <u>(616713)</u> |
| **Total Interest Rate Risk** | &nbsp;&nbsp;&nbsp;&nbsp; <u>348740</u> | <u>(616713)</u> |
| Totals | <u>(1148126)</u> | <u>2316870</u> |
| **Fidelity Asset Manager 40%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(506266)</u> | <u>3279391</u> |
| **Total Equity Risk** | <u>(506266)</u> | <u>3279391</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; <u>411643</u> | <u>(730844)</u> |
| **Total Interest Rate Risk** | &nbsp;&nbsp;&nbsp;&nbsp; <u>411643</u> | <u>(730844)</u> |
| Totals | &nbsp;&nbsp;&nbsp;&nbsp; <u>(94623)</u> | <u>2548547</u> |
| **Fidelity Asset Manager 50%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(2058086)</u> | <u>12898442</u> |
| **Total Equity Risk** | <u>(2058086)</u> | <u>12898442</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | <u>1638686</u> | <u>(2936662)</u> |
| **Total Interest Rate Risk** | <u>1638686</u> | <u>(2936662)</u> |
| Totals | <u>(419400)</u> | <u>9961780</u> |
| **Fidelity Asset Manager 60%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(837961)</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>899369</u> |
| **Total Equity Risk** | <u>(837961)</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>899369</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; <u>808192</u> | <u>(1437148)</u> |
| **Total Interest Rate Risk** | &nbsp;&nbsp;&nbsp;&nbsp; <u>808192</u> | <u>(1437148)</u> |
| Totals | &nbsp;&nbsp;&nbsp;&nbsp; <u>(29769)</u> | <u>(537779)</u> |
| **Fidelity Asset Manager 70%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>(1473621)</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>255944</u> |
| **Total Equity Risk** | <u>(1473621)</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>255944</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | <u>1272096</u> | <u>(2276859)</u> |
| **Total Interest Rate Risk** | <u>1272096</u> | <u>(2276859)</u> |
| Totals | <u>(201525)</u> | <u>(2020915)</u> |
| **Fidelity Asset Manager 85%** |  |  |
| **Equity Risk** |  |  |
| Futures Contracts | <u>3952973</u> | <u>(2902654)</u> |
| **Total Equity Risk** | <u>3952973</u> | <u>(2902654)</u> |
| **Interest Rate Risk** |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; <u>967170</u> | <u>(1714171)</u> |
| **Total Interest Rate Risk** | &nbsp;&nbsp;&nbsp;&nbsp; <u>967170</u> | <u>(1714171)</u> |
| Totals | <u>4920143</u> | <u>(4616825)</u> |

---

If there are any open positions at period end, a summary of the value of derivatives by primary risk exposure is included at the end of the Schedule of Investments.

**Futures Contracts.** A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market, bond market and fluctuations in interest rates.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily. Subsequent payments from or to a fund are made or as needed depending on the fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.

Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Asset Manager 20%** | 927241273 | 504044980 |
| **Fidelity Asset Manager 30%** | 304949995 | 175481608 |
| **Fidelity Asset Manager 40%** | 351426922 | 124071526 |
| **Fidelity Asset Manager 50%** | 1127224341 | 661075122 |
| **Fidelity Asset Manager 60%** | 828335300 | 310390443 |
| **Fidelity Asset Manager 70%** | 999949966 | 413217347 |
| **Fidelity Asset Manager 85%** | 1258066519 | 363952324 |

---

**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services for which each Fund pays a monthly management fee.

Each Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating each Fund out of each class's management fee. Each class of each Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once each Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of each Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.

---

| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Fidelity Asset Manager 20%** |  |
| **Class A** | .54 |
| **Class M** | .54 |
| **Class C** | .54 |
| **Asset Manager 20%** | .48 |
| **Class I** | .52 |
| **Class Z** | .45 |
| **Fidelity Asset Manager 30%** |  |
| **Class A** | .54 |
| **Class M** | .54 |
| **Class C** | .55 |
| **Asset Manager 30%** | .49 |
| **Class I** | .55 |
| **Class Z** | .46 |
| **Fidelity Asset Manager 40%** |  |
| **Class A** | .55 |
| **Class M** | .54 |
| **Class C** | .56 |
| **Asset Manager 40%** | .50 |
| **Class I** | .54 |
| **Class Z** | .46 |
| **Fidelity Asset Manager 50%** |  |
| **Class A** | .62 |
| **Class M** | .61 |
| **Class C** | .62 |
| **Asset Manager 50%** | .58 |
| **Class I** | .60 |
| **Class Z** | .50 |
| **Fidelity Asset Manager 60%** |  |
| **Class A** | .70 |
| **Class M** | .69 |
| **Class C** | .72 |
| **Asset Manager 60%** | .64 |
| **Class I** | .70 |
| **Class Z** | .57 |
| **Fidelity Asset Manager 70%** |  |
| **Class A** | .68 |
| **Class M** | .67 |
| **Class C** | .69 |
| **Asset Manager 70%** | .64 |
| **Class I** | .66 |
| **Class Z** | .56 |
| **Fidelity Asset Manager 85%** |  |
| **Class A** | .68 |
| **Class M** | .68 |
| **Class C** | .70 |
| **Asset Manager 85%** | .66 |
| **Class I** | .68 |
| **Class Z** | .56 |

---

One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. A different management fee rate may be applicable to each class of each Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of each Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:

---

| | |
|:---|:---|
|  | **Total Management Fee Rate %** |
| **Fidelity Asset Manager 20%** |  |
| **Class A** | .49 |
| **Class M** | .49 |
| **Class C** | .49 |
| **Asset Manager 20%** | .47 |
| **Class I** | .49 |
| **Class Z** | .44 |
| **Fidelity Asset Manager 30%** |  |
| **Class A** | .51 |
| **Class M** | .51 |
| **Class C** | .51 |
| **Asset Manager 30%** | .48 |
| **Class I** | .51 |
| **Class Z** | .45 |
| **Fidelity Asset Manager 40%** |  |
| **Class A** | .50 |
| **Class M** | .50 |
| **Class C** | .50 |
| **Asset Manager 40%** | .48 |
| **Class I** | .50 |
| **Class Z** | .45 |
| **Fidelity Asset Manager 50%** |  |
| **Class A** | .55 |
| **Class M** | .55 |
| **Class C** | .55 |
| **Asset Manager 50%** | .51 |
| **Class I** | .55 |
| **Class Z** | .44 |
| **Fidelity Asset Manager 60%** |  |
| **Class A** | .65 |
| **Class M** | .65 |
| **Class C** | .65 |
| **Asset Manager 60%** | .60 |
| **Class I** | .65 |
| **Class Z** | .54 |
| **Fidelity Asset Manager 70%** |  |
| **Class A** | .65 |
| **Class M** | .65 |
| **Class C** | .65 |
| **Asset Manager 70%** | .60 |
| **Class I** | .65 |
| **Class Z** | .53 |
| **Fidelity Asset Manager 85%** |  |
| **Class A** | .65 |
| **Class M** | .65 |
| **Class C** | .65 |
| **Asset Manager 85%** | .60 |
| **Class I** | .65 |
| **Class Z** | .54 |

---

**Distribution and Service Plan Fees.** In accordance with Rule 12b-1 of the 1940 Act, each Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of each Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Distribution Fee** | **Service Fee** | **Total Fees ($)** | **Retained by FDC ($)** |
| **Fidelity Asset Manager 20%** |  |  |  |  |
| Class A | - % | .25% | 64746 | 2708 |
| Class M | .25% | .25% | 77410 | 279 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>56792</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>5350</u> |
|  |  |  | <u>198948</u> | <u>8337</u> |
| **Fidelity Asset Manager 30%** |  |  |  |  |
| Class A | - % | .25% | 91761 | 1520 |
| Class M | .25% | .25% | 54272 | 329 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>75768</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6726</u> |
|  |  |  | <u>221801</u> | <u>8575</u> |
| **Fidelity Asset Manager 40%** |  |  |  |  |
| Class A | - % | .25% | 105559 | 3302 |
| Class M | .25% | .25% | 38660 | 657 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>78605</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>9450</u> |
|  |  |  | <u>222824</u> | <u>13409</u> |
| **Fidelity Asset Manager 50%** |  |  |  |  |
| Class A | - % | .25% | 168219 | 2224 |
| Class M | .25% | .25% | 135904 | 1590 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>117929</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>11778</u> |
|  |  |  | <u>422052</u> | <u>15592</u> |
| **Fidelity Asset Manager 60%** |  |  |  |  |
| Class A | - % | .25% | 235748 | 6975 |
| Class M | .25% | .25% | 131710 | 1869 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>140783</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>16251</u> |
|  |  |  | <u>508241</u> | <u>25095</u> |
| **Fidelity Asset Manager 70%** |  |  |  |  |
| Class A | - % | .25% | 328318 | 7871 |
| Class M | .25% | .25% | 194898 | 1866 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>144405</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>26816</u> |
|  |  |  | <u>667621</u> | <u>36553</u> |
| **Fidelity Asset Manager 85%** |  |  |  |  |
| Class A | - % | .25% | 381053 | 5967 |
| Class M | .25% | .25% | 146456 | 848 |
| Class C | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>232384</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>39108</u> |
|  |  |  | <u>759893</u> | <u>45923</u> |

---

**Sales Load.** FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of each Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.

For the period, sales charge amounts retained by FDC were as follows:

---

| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Fidelity Asset Manager 20%** |  |
| Class A | 9376 |
| Class M | 566 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>74</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>10016</u> |
| **Fidelity Asset Manager 30%** |  |
| Class A | 14007 |
| Class M | 643 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>61</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>14711</u> |
| **Fidelity Asset Manager 40%** |  |
| Class A | 6496 |
| Class M | 406 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>94</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6996</u> |
| **Fidelity Asset Manager 50%** |  |
| Class A | 11302 |
| Class M | 1788 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>360</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>13450</u> |
| **Fidelity Asset Manager 60%** |  |
| Class A | 22129 |
| Class M | 2086 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>256</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>24471</u> |
| **Fidelity Asset Manager 70%** |  |
| Class A | 55270 |
| Class M | 3028 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>371</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>58669</u> |
| **Fidelity Asset Manager 85%** |  |
| Class A | 93912 |
| Class M | 2041 |
| Class C A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>952</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>96905</u> |

---

*A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.*

**Deferred Trustee Compensation.** Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.

---

| | |
|:---|:---|
| **Fidelity Asset Manager 50%** | 8795 |
| **Fidelity Asset Manager 70%** | 3004 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Asset Manager 20%** | 68153 | 6777733 | 1134938 |
| **Fidelity Asset Manager 30%** | 31455 | 4291997 | 699438 |
| **Fidelity Asset Manager 40%** | 178200 | 1792516 | 275282 |
| **Fidelity Asset Manager 50%** | 640891 | 11687516 | 2039931 |
| **Fidelity Asset Manager 60%** | 1265445 | - | - |
| **Fidelity Asset Manager 70%** | 2916585 | - | - |
| **Fidelity Asset Manager 85%** | 35139360 | - | - |

---

**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Asset Manager 20%** | 5202 |
| **Fidelity Asset Manager 30%** | 1864 |
| **Fidelity Asset Manager 40%** | 2214 |
| **Fidelity Asset Manager 50%** | 8962 |
| **Fidelity Asset Manager 60%** | 4309 |
| **Fidelity Asset Manager 70%** | 6839 |
| **Fidelity Asset Manager 85%** | 4986 |

---

**8. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received, or for non-cash collateral, fees received from borrowers as compensation for the securities loaned. Securities lending income is reduced by any lending agent fees associated with the loan. Any security lending income earned on investing cash collateral is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Any security lending income earned on non-cash collateral is presented in the Statement of Operations in security lending. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **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 Asset Manager 20%** | 54 | - | - |
| **Fidelity Asset Manager 30%** | 6478 | - | - |
| **Fidelity Asset Manager 85%** | 16530 | - | - |

---

**9. Expense Reductions.** 

The investment adviser has contractually agreed to waive each Fund's management fee with respect to the portion of the Fund's assets invested in certain affiliated ETFs. This waiver cannot be removed or modified without the approval of the Board. During the period this waiver reduced each applicable Fund's management fee as follows:

---

| | |
|:---|:---|
|  | **Waiver ($)** |
| **Fidelity Asset Manager 20%** | 880073 |
| **Fidelity Asset Manager 30%** | 369749 |
| **Fidelity Asset Manager 40%** | 370710 |
| **Fidelity Asset Manager 50%** | 1764941 |
| **Fidelity Asset Manager 60%** | 891189 |
| **Fidelity Asset Manager 70%** | 1597987 |
| **Fidelity Asset Manager 85%** | 1286334 |

---

Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's or class' expenses. All of the applicable expense reductions are noted in the table below.

---

| | |
|:---|:---|
|  | **Custodian credits ($)**  |
| **Fidelity Asset Manager 20%** | 196 |
| **Fidelity Asset Manager 30%** | 64 |
| **Fidelity Asset Manager 40%** | 8 |
| **Fidelity Asset Manager 60%** | 343 |
| **Fidelity Asset Manager 70%** | 20 |
| **Fidelity Asset Manager 85%** | 331 |

---

**10. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **March 31, 2026** | **Year ended**<br> **September 30, 2025**  |
| **Fidelity Asset Manager 20%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $799631 | $1534344 |
| Class M | 443441 | 792983 |
| Class C | 135713 | 292585 |
| Asset Manager 20% | 50453876 | 99637142 |
| Class I | 302215 | 560511 |
| Class Z | <u>47543728</u> | <u>78992120</u> |
| Total  | <u>$99678604</u> | <u>$181809685</u> |
| **Fidelity Asset Manager 30%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1063662 | $2051612 |
| Class M | 292969 | 559320 |
| Class C | 170531 | 354501 |
| Asset Manager 30% | 20695431 | 40242342 |
| Class I | 331992 | 639473 |
| Class Z | <u>10939566</u> | <u>17449285</u> |
| Total  | <u>$33494151</u> | <u>$61296533</u> |
| **Fidelity Asset Manager 40%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $2255783 | $2041719 |
| Class M | 370984 | 322662 |
| Class C | 356473 | 306938 |
| Asset Manager 40% | 47279648 | 42035832 |
| Class I | 1003840 | 943310 |
| Class Z | <u>19811728</u> | <u>17435511</u> |
| Total  | <u>$71078456</u> | <u>$63085972</u> |
| **Fidelity Asset Manager 50%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $8198695 | $4504477 |
| Class M | 3233025 | 1734316 |
| Class C | 1374594 | 715662 |
| Asset Manager 50% | 458181109 | 270384140 |
| Class I | 4062110 | 2217509 |
| Class Z | <u>168125618</u> | <u>86591053</u> |
| Total  | <u>$643175151</u> | <u>$366147157</u> |
| **Fidelity Asset Manager 60%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $9901670 | $4890585 |
| Class M | 2658114 | 1300033 |
| Class C | 1299813 | 614537 |
| Asset Manager 60% | 135890410 | 70064429 |
| Class I | 7444064 | 4094113 |
| Class Z | <u>124642025</u> | <u>56756949</u> |
| Total  | <u>$281836096</u> | <u>$137720646</u> |
| **Fidelity Asset Manager 70%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $17366076 | $9459798 |
| Class M | 4956739 | 2858573 |
| Class C | 1664040 | 1002941 |
| Asset Manager 70% | 319424547 | 181634572 |
| Class I | 5023835 | 3250326 |
| Class Z | <u>198862314</u> | <u>105073057</u> |
| Total  | <u>$547297551</u> | <u>$303279267</u> |
| **Fidelity Asset Manager 85%** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $15411407 | $7890588 |
| Class M | 2874735 | 1446598 |
| Class C | 2092308 | 1024892 |
| Asset Manager 85% | 145498742 | 75912909 |
| Class I | 4946899 | 2306849 |
| Class Z | <u>145350184</u> | <u>64954485</u> |
| Total  | <u>$316174275</u> | <u>$153536321</u> |

---

**11. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025**  | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025**  |
| **Fidelity Asset Manager 20%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 382159 | 808758 | $5513449 | $11086302 |
| Reinvestment of distributions  | 54050 | 108148 | 777087 | 1483032 |
| Shares redeemed | <u>(330972)</u> | <u>(1099452)</u> | <u>(4781569)</u> | <u>(15079453)</u> |
| Net increase (decrease) | <u>105237</u> | <u>(182546)</u> | <u>$1508967</u> | <u>$(2510119)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 92614 | 358020 | $1329739 | $4900107 |
| Reinvestment of distributions  | 30734 | 57541 | 440608 | 787125 |
| Shares redeemed | <u>(126676)</u> | <u>(365205)</u> | <u>(1821121)</u> | <u>(4975771)</u> |
| Net increase (decrease) | <u>(3328)</u> | <u>50356</u> | <u>$(50774)</u> | <u>$711461</u> |
| **Class C** |  |  |  |  |
| Shares sold | 46444 | 126803 | $664776 | $1721920 |
| Reinvestment of distributions  | 9424 | 21398 | 133970 | 290190 |
| Shares redeemed | <u>(107854)</u> | <u>(348095)</u> | <u>(1541355)</u> | <u>(4722391)</u> |
| Net increase (decrease) | <u>(51986)</u> | <u>(199894)</u> | <u>$(742609)</u> | <u>$(2710281)</u> |
| **Asset Manager 20%** |  |  |  |  |
| Shares sold | 9366388 | 15950309 | $135393593 | $219397274 |
| Reinvestment of distributions  | 3290598 | 6816148 | 47393699 | 93626506 |
| Shares redeemed | <u>(17296055)</u> | <u>(39408705)</u> | <u>(249898168)</u> | <u>(543062609)</u> |
| Net increase (decrease) | <u>(4639069)</u> | <u>(16642248)</u> | <u>$(67110876)</u> | <u>$(230038829)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 659473 | 612975 | $9590674 | $8481377 |
| Reinvestment of distributions  | 18205 | 37327 | 262366 | 512952 |
| Shares redeemed | <u>(397969)</u> | <u>(724739)</u> | <u>(5767684)</u> | <u>(10011609)</u> |
| Net increase (decrease) | <u>279709</u> | <u>(74437)</u> | <u>$4085356</u> | <u>$(1017280)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 61482524 | 55237953 | $886008971 | $759160737 |
| Reinvestment of distributions  | 3297119 | 5744916 | 47471642 | 78857979 |
| Shares redeemed | <u>(23224228)</u> | <u>(40862591)</u> | <u>(336354786)</u> | <u>(563226835)</u> |
| Net increase (decrease) | <u>41555415</u> | <u>20120278</u> | <u>$597125827</u> | <u>$274791881</u> |
| **Fidelity Asset Manager 30%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 252011 | 680269 | $3246762 | $8242487 |
| Reinvestment of distributions  | 82045 | 168544 | 1052432 | 2028003 |
| Shares redeemed | <u>(551748)</u> | <u>(1067216)</u> | <u>(7109761)</u> | <u>(12950048)</u> |
| Net increase (decrease) | <u>(217692)</u> | <u>(218403)</u> | <u>$(2810567)</u> | <u>$(2679558)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 64344 | 186827 | $825281 | $2265525 |
| Reinvestment of distributions  | 22875 | 46537 | 292564 | 558306 |
| Shares redeemed | <u>(115990)</u> | <u>(394222)</u> | <u>(1487124)</u> | <u>(4763753)</u> |
| Net increase (decrease) | <u>(28771)</u> | <u>(160858)</u> | <u>$(369279)</u> | <u>$(1939922)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 76346 | 145470 | $971867 | $1730776 |
| Reinvestment of distributions  | 13474 | 29883 | 170515 | 354466 |
| Shares redeemed | <u>(167423)</u> | <u>(501637)</u> | <u>(2125753)</u> | <u>(5971988)</u> |
| Net increase (decrease) | <u>(77603)</u> | <u>(326284)</u> | <u>$(983371)</u> | <u>$(3886746)</u> |
| **Asset Manager 30%** |  |  |  |  |
| Shares sold | 7850446 | 10620418 | $101105829 | $128979087 |
| Reinvestment of distributions  | 1498415 | 3102741 | 19195320 | 37286137 |
| Shares redeemed | <u>(10514726)</u> | <u>(22902721)</u> | <u>(135275534)</u> | <u>(276405392)</u> |
| Net increase (decrease) | <u>(1165865)</u> | <u>(9179562)</u> | <u>$(14974385)</u> | <u>$(110140168)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 227614 | 1226520 | $2930683 | $14670965 |
| Reinvestment of distributions  | 23388 | 50417 | 299798 | 605620 |
| Shares redeemed | <u>(243308)</u> | <u>(1097718)</u> | <u>(3144349)</u> | <u>(13274134)</u> |
| Net increase (decrease) | <u>7694</u> | <u>179219</u> | <u>$86132</u> | <u>$2002451</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 15502965 | 9131702 | $198945690 | $110417428 |
| Reinvestment of distributions  | 848799 | 1444439 | 10877441 | 17356582 |
| Shares redeemed | <u>(5030129)</u> | <u>(8794956)</u> | <u>(64875157)</u> | <u>(106878254)</u> |
| Net increase (decrease) | <u>11321635</u> | <u>1781185</u> | <u>$144947974</u> | <u>$20895756</u> |
| **Fidelity Asset Manager 40%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 379386 | 1130258 | $5404553 | $15025865 |
| Reinvestment of distributions  | 159380 | 155071 | 2253056 | 2032459 |
| Shares redeemed | <u>(826005)</u> | <u>(1240052)</u> | <u>(11817873)</u> | <u>(16600983)</u> |
| Net increase (decrease) | <u>(287239)</u> | <u>45277</u> | <u>$(4160264)</u> | <u>$457341</u> |
| **Class M** |  |  |  |  |
| Shares sold | 256832 | 112950 | $3693901 | $1520680 |
| Reinvestment of distributions  | 25998 | 24392 | 366983 | 319456 |
| Shares redeemed | <u>(84458)</u> | <u>(257474)</u> | <u>(1204922)</u> | <u>(3388865)</u> |
| Net increase (decrease) | <u>198372</u> | <u>(120132)</u> | <u>$2855962</u> | <u>$(1548729)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 67623 | 207261 | $960212 | $2715225 |
| Reinvestment of distributions  | 25285 | 23409 | 355677 | 305640 |
| Shares redeemed | <u>(192131)</u> | <u>(466320)</u> | <u>(2715692)</u> | <u>(6164760)</u> |
| Net increase (decrease) | <u>(99223)</u> | <u>(235650)</u> | <u>$(1399803)</u> | <u>$(3143895)</u> |
| **Asset Manager 40%** |  |  |  |  |
| Shares sold | 18478660 | 19811642 | $263524798 | $265149860 |
| Reinvestment of distributions  | 3099575 | 2961268 | 43761761 | 38765366 |
| Shares redeemed | <u>(11732733)</u> | <u>(24308998)</u> | <u>(167225585)</u> | <u>(322190240)</u> |
| Net increase (decrease) | <u>9845502</u> | <u>(1536088)</u> | <u>$140060974</u> | <u>$(18275014)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 460295 | 908144 | $6563246 | $11961505 |
| Reinvestment of distributions  | 61745 | 64107 | 872376 | 838601 |
| Shares redeemed | <u>(217451)</u> | <u>(970264)</u> | <u>(3106957)</u> | <u>(12945370)</u> |
| Net increase (decrease) | <u>304589</u> | <u>1987</u> | <u>$4328665</u> | <u>$(145264)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 7188515 | 5919370 | $102537894 | $78967072 |
| Reinvestment of distributions  | 1387490 | 1317757 | 19589194 | 17247234 |
| Shares redeemed | <u>(3168948)</u> | <u>(7777924)</u> | <u>(45118620)</u> | <u>(103411354)</u> |
| Net increase (decrease) | <u>5407057</u> | <u>(540797)</u> | <u>$77008468</u> | <u>$(7197048)</u> |
| **Fidelity Asset Manager 50%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 353459 | 792008 | $7912140 | $16714345 |
| Reinvestment of distributions  | 364209 | 212107 | 7954907 | 4367615 |
| Shares redeemed | <u>(521818)</u> | <u>(1265464)</u> | <u>(11707337)</u> | <u>(26698008)</u> |
| Net increase (decrease) | <u>195850</u> | <u>(261349)</u> | <u>$4159710</u> | <u>$(5616048)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 203171 | 250694 | $4502617 | $5239115 |
| Reinvestment of distributions  | 147788 | 83938 | 3223932 | 1726013 |
| Shares redeemed | <u>(311532)</u> | <u>(444532)</u> | <u>(6939617)</u> | <u>(9337456)</u> |
| Net increase (decrease) | <u>39427</u> | <u>(109900)</u> | <u>$786932</u> | <u>$(2372328)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 103424 | 126834 | $2280661 | $2619558 |
| Reinvestment of distributions  | 63336 | 34897 | 1367484 | 710892 |
| Shares redeemed | <u>(229671)</u> | <u>(348658)</u> | <u>(5060295)</u> | <u>(7245134)</u> |
| Net increase (decrease) | <u>(62911)</u> | <u>(186927)</u> | <u>$(1412150)</u> | <u>$(3914684)</u> |
| **Asset Manager 50%** |  |  |  |  |
| Shares sold | 10853456 | 16986828 | $244197416 | $360096056 |
| Reinvestment of distributions  | 19508297 | 12247508 | 428579572 | 253352647 |
| Shares redeemed | <u>(22082611)</u> | <u>(52386292)</u> | <u>(497304560)</u> | <u>(1104308615)</u> |
| Net increase (decrease) | <u>8279142</u> | <u>(23151956)</u> | <u>$175472428</u> | <u>$(490859912)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 231091 | 1252084 | $5177205 | $26270187 |
| Reinvestment of distributions  | 139586 | 87595 | 3058125 | 1805122 |
| Shares redeemed | <u>(307663)</u> | <u>(1121810)</u> | <u>(6894621)</u> | <u>(23886882)</u> |
| Net increase (decrease) | <u>63014</u> | <u>217869</u> | <u>$1340709</u> | <u>$4188427</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 19006141 | 15641881 | $430117788 | $331161079 |
| Reinvestment of distributions  | 7676217 | 4197833 | 167909438 | 86493652 |
| Shares redeemed | <u>(6818004)</u> | <u>(14771488)</u> | <u>(151704651)</u> | <u>(308832941)</u> |
| Net increase (decrease) | <u>19864354</u> | <u>5068226</u> | <u>$446322575</u> | <u>$108821790</u> |
| **Fidelity Asset Manager 60%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 526120 | 1424322 | $9181368 | $22979509 |
| Reinvestment of distributions  | 572859 | 311975 | 9761515 | 4820010 |
| Shares redeemed | <u>(838364)</u> | <u>(1936917)</u> | <u>(14684995)</u> | <u>(31053984)</u> |
| Net increase (decrease) | <u>260615</u> | <u>(200620)</u> | <u>$4257888</u> | <u>$(3254465)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 142797 | 198389 | $2489636 | $3181525 |
| Reinvestment of distributions  | 156280 | 84304 | 2648938 | 1295751 |
| Shares redeemed | <u>(245733)</u> | <u>(431601)</u> | <u>(4299469)</u> | <u>(6855804)</u> |
| Net increase (decrease) | <u>53344</u> | <u>(148908)</u> | <u>$839105</u> | <u>$(2378528)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 180481 | 216943 | $3102035 | $3413254 |
| Reinvestment of distributions  | 76797 | 40099 | 1290950 | 611517 |
| Shares redeemed | <u>(242116)</u> | <u>(559806)</u> | <u>(4151641)</u> | <u>(8819806)</u> |
| Net increase (decrease) | 15162 | <u>(302764)</u> | <u>$241344</u> | <u>$(4795035)</u> |
| **Asset Manager 60%** |  |  |  |  |
| Shares sold | 17824141 | 19785697 | $313955970 | $321739191 |
| Reinvestment of distributions  | 7311689 | 4159926 | 125249226 | 64603652 |
| Shares redeemed | <u>(14475091)</u> | <u>(29917879)</u> | <u>(254086132)</u> | <u>(481264108)</u> |
| Net increase (decrease) | <u>10660739</u> | <u>(5972256)</u> | <u>$185119064</u> | <u>$(94921265)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 751231 | 2650027 | $13227230 | $42909347 |
| Reinvestment of distributions  | 405104 | 250578 | 6943487 | 3891478 |
| Shares redeemed | <u>(1090283)</u> | <u>(1976110)</u> | <u>(19243121)</u> | <u>(31877622)</u> |
| Net increase (decrease) | <u>66052</u> | <u>924495</u> | <u>$927596</u> | <u>$14923203</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 21141887 | 16304460 | $374580568 | $263985309 |
| Reinvestment of distributions  | 7255420 | 3644240 | 124067689 | 56522166 |
| Shares redeemed | <u>(7161364)</u> | <u>(13985792)</u> | <u>(125198972)</u> | <u>(224727627)</u> |
| Net increase (decrease) | <u>21235943</u> | <u>5962908</u> | <u>$373449285</u> | <u>$95779848</u> |
| **Fidelity Asset Manager 70%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 642067 | 1064773 | $20060344 | $30238048 |
| Reinvestment of distributions  | 559591 | 335820 | 16866080 | 9174607 |
| Shares redeemed | <u>(733848)</u> | <u>(1723722)</u> | <u>(22898931)</u> | <u>(48916597)</u> |
| Net increase (decrease) | <u>467810</u> | <u>(323129)</u> | <u>$14027493</u> | <u>$(9503942)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 115625 | 241320 | $3570480 | $6860092 |
| Reinvestment of distributions  | 163253 | 103822 | 4925330 | 2839531 |
| Shares redeemed | <u>(220645)</u> | <u>(502142)</u> | <u>(6828110)</u> | <u>(14318757)</u> |
| Net increase (decrease) | <u>58233</u> | <u>(157000)</u> | <u>$1667700</u> | <u>$(4619134)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 95436 | 173290 | $2949032 | $4929802 |
| Reinvestment of distributions  | 55076 | 36647 | 1661106 | 1001201 |
| Shares redeemed | <u>(162039)</u> | <u>(355552)</u> | <u>(5027444)</u> | <u>(10076140)</u> |
| Net increase (decrease) | <u>(11527)</u> | <u>(145615)</u> | <u>$(417306)</u> | <u>$(4145137)</u> |
| **Asset Manager 70%** |  |  |  |  |
| Shares sold | 11173676 | 16000548 | $348500010 | $462101161 |
| Reinvestment of distributions  | 9898397 | 6219272 | 299030558 | 170283662 |
| Shares redeemed | <u>(11286146)</u> | <u>(23656475)</u> | <u>(352188054)</u> | <u>(675916979)</u> |
| Net increase (decrease) | <u>9785927</u> | <u>(1436655)</u> | <u>$295342514</u> | <u>$(43532156)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 282648 | 1074581 | $8771852 | $30703410 |
| Reinvestment of distributions  | 150213 | 107896 | 4536430 | 2953124 |
| Shares redeemed | <u>(372043)</u> | <u>(937465)</u> | <u>(11538737)</u> | <u>(26700300)</u> |
| Net increase (decrease) | <u>60818</u> | <u>245012</u> | <u>$1769545</u> | <u>$6956234</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 11585686 | 9594028 | $365211479 | $278596585 |
| Reinvestment of distributions  | 6585417 | 3839406 | 198352769 | 104854168 |
| Shares redeemed | <u>(4884679)</u> | <u>(9847772)</u> | <u>(151570711)</u> | <u>(277653724)</u> |
| Net increase (decrease) | <u>13286424</u> | <u>3585662</u> | <u>$411993537</u> | <u>$105797029</u> |
| **Fidelity Asset Manager 85%** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 730017 | 1654230 | $22420287 | $45098330 |
| Reinvestment of distributions  | 511934 | 300135 | 15358008 | 7857535 |
| Shares redeemed | <u>(689982)</u> | <u>(1897166)</u> | <u>(21209844)</u> | <u>(51990680)</u> |
| Net increase (decrease) | <u>551969</u> | <u>57199</u> | <u>$16568451</u> | <u>$965185</u> |
| **Class M** |  |  |  |  |
| Shares sold | 100334 | 285121 | $3042521 | $7715862 |
| Reinvestment of distributions  | 96437 | 55483 | 2871896 | 1443122 |
| Shares redeemed | <u>(137497)</u> | <u>(372115)</u> | <u>(4192699)</u> | <u>(10131983)</u> |
| Net increase (decrease) | <u>59274</u> | <u>(31511)</u> | <u>$1721718</u> | <u>$(972999)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 181623 | 266361 | $5470534 | $7146043 |
| Reinvestment of distributions  | 70772 | 39676 | 2083530 | 1020870 |
| Shares redeemed | <u>(228044)</u> | <u>(443849)</u> | <u>(6840259)</u> | <u>(11859965)</u> |
| Net increase (decrease) | <u>24351</u> | <u>(137812)</u> | <u>$713805</u> | <u>$(3693052)</u> |
| **Asset Manager 85%** |  |  |  |  |
| Shares sold | 9677404 | 12361877 | $301958524 | $344893417 |
| Reinvestment of distributions  | 4513710 | 2694991 | 137216733 | 71444211 |
| Shares redeemed | <u>(6610487)</u> | <u>(14228784)</u> | <u>(205730607)</u> | <u>(392809576)</u> |
| Net increase (decrease) | <u>7580627</u> | <u>828084</u> | <u>$233444650</u> | <u>$23528052</u> |
| **Class I** |  |  |  |  |
| Shares sold | 632685 | 917355 | $19637139 | $25356731 |
| Reinvestment of distributions  | 159490 | 85224 | 4829357 | 2251608 |
| Shares redeemed | <u>(353374)</u> | <u>(601675)</u> | <u>(10906598)</u> | <u>(16478297)</u> |
| Net increase (decrease) | <u>438801</u> | <u>400904</u> | <u>$13559898</u> | <u>$11130042</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 18262567 | 20232702 | $565999891 | $567310629 |
| Reinvestment of distributions  | 4789786 | 2456932 | 144459944 | 64666462 |
| Shares redeemed | <u>(3759790)</u> | <u>(7727675)</u> | <u>(115947435)</u> | <u>(209401871)</u> |
| Net increase (decrease) | <u>19292563</u> | <u>14961959</u> | <u>$594512400</u> | <u>$422575220</u> |

---

**12. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, a shareholder of record owned more than 25% of the total outstanding shares as follows:

---

| | |
|:---|:---|
| **Fund**  | **Affiliated %** |
| **Fidelity Asset Manager 20%**  | 50% |
| **Fidelity Asset Manager 30%**  | 34% |
| **Fidelity Asset Manager 40%**  | 27% |
| **Fidelity Asset Manager 50%**  | 26% |
| **Fidelity Asset Manager 60%**  | 43% |
| **Fidelity Asset Manager 70%**  | 35% |
| **Fidelity Asset Manager 85%**  | 44% |

---

**13. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img129575_4.jpg)<br>

1.878280.118 AR-SANN-0526

**Fidelity® Sustainable Multi-Asset Fund**

**Semi-Annual Report**

**March 31, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img129638_1.jpg)

![](img129638_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_MAF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Sustainable Multi-Asset Fund](#Sub_Sec_Fund_6477_MAF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6477_MAF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_MAF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_MAF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_MAF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_MAF-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Sustainable Multi-Asset Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 24.4%** | &nbsp;&nbsp;**Bond Funds - 24.4%** | &nbsp;&nbsp;**Bond Funds - 24.4%** |
|  | Shares | Value ($)<br>|
| Fidelity Inflation-Protected Bond Index Fund (a) | 568314 | 5200076 |
| Fidelity Long-Term Treasury Bond Index Fund (a) | 379144 | 3488124 |
| Fidelity Sustainable Core Plus Bond Fund (a) | 1189903 | 11113693 |
| <br> **TOTAL BOND FUNDS**<br> (Cost $19,916,968) |  | **19801893** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 40.6%** | &nbsp;&nbsp;**Domestic Equity Funds - 40.6%** | &nbsp;&nbsp;**Domestic Equity Funds - 40.6%** |
|  | Shares | Value ($)<br>|
| Fidelity U.S. Sustainability Index Fund (a)<br>(Cost $31,179,136)<br>| 1150712 | **32979415** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 34.8%** | &nbsp;&nbsp;**International Equity Funds - 34.8%** | &nbsp;&nbsp;**International Equity Funds - 34.8%** |
|  | Shares | Value ($)<br>|
| Fidelity International Sustainability Index Fund (a) | 703018 | 10763203 |
| Fidelity Sustainable Emerging Markets Equity Fund (a) | 474278 | 5871563 |
| Fidelity Sustainable International Equity Fund (a) | 1018589 | 11601724 |
| <br> **TOTAL INTERNATIONAL EQUITY FUNDS**<br> (Cost $24,684,465) |  | **28236490** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 0.2%** | &nbsp;&nbsp;**Short-Term Funds - 0.2%** | &nbsp;&nbsp;**Short-Term Funds - 0.2%** |
|  | Shares | Value ($)<br>|
| Fidelity Sustainable Low Duration Bond Fund (a)<br>(Cost $173,743)<br>| 16948 | **172870** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $75,954,312)<br>| <br>**81190668** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **(4241)** |
| **NET ASSETS - 100.0%** | **81186427** |

---

**Legend**

(a) Affiliated fund.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | - | 145050 | 145050 | 17 | - | - | - | - | 0.0% |
| Total | - | 145050 | 145050 | 17 | - | - | - |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Inflation-Protected Bond Index Fund | 2960188 | 3059739 | 728908 | 100738 | (6513) | (84428) | 5200076 | 568314 |
| Fidelity International Sustainability Index Fund | 6228953 | 6157518 | 1604288 | 218946 | (6810) | (12170) | 10763203 | 703018 |
| Fidelity Long-Term Treasury Bond Index Fund | 1945839 | 2053734 | 438397 | 53425 | 1572 | (74624) | 3488124 | 379144 |
| Fidelity Sustainable Core Plus Bond Fund | 5806171 | 6508823 | 1072494 | 178295 | 11349 | (140156) | 11113693 | 1189903 |
| Fidelity Sustainable Emerging Markets Equity Fund | 3088947 | 3768269 | 1331278 | 45170 | 8478 | 337147 | 5871563 | 474278 |
| Fidelity Sustainable International Equity Fund | 6648884 | 6734619 | 1728382 | 191406 | 2490 | (55887) | 11601724 | 1018589 |
| Fidelity Sustainable Low Duration Bond Fund | 529083 | 224041 | 578592 | 5684 | 1719 | (3381) | 172870 | 16948 |
| Fidelity Sustainable U.S. Equity ETF | 4778430 | - | 4831819 | - | 1275646 | (1222257) | - | - |
| Fidelity U.S. Sustainability Index Fund | 13388731 | 22580263 | 1365267 | 258114 | (12937) | (1611375) | 32979415 | 1150712 |
|  | 45375226 | 51087006 | 13679425 | 1051778 | 1274994 | (2867131) | 81190668 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 19801893 | 19801893 | - | - |
|  **Domestic Equity Funds** | 32979415 | 32979415 | - | - |
|  **International Equity Funds** | 28236490 | 28236490 | - | - |
|  **Short-Term Funds** | 172870 | 172870 | - | - |
| **Total Investments in Securities:** | 81190668 | 81190668 | - | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Affiliated issuers (cost $75,954,312) | $81190668 |  |
| Total Investment in Securities (cost $75,954,312) |  | $81190668 |
| Receivable for investments sold |  | 45710 |
| Receivable for fund shares sold |  | 118562 |
| Receivable from investment adviser for expense reductions |  | 3325 |
| **Total assets** |  | 81358265 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $87302 |  |
| Payable for fund shares redeemed | 76972 |  |
| Accrued management fee | 6731 |  |
| Distribution and service plan fees payable | 833 |  |
| **Total liabilities** |  | 171838 |
| **Net Assets**  |  | $81186427 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $76099427 |
| Total accumulated earnings (loss) |  | 5087000 |
| **Net Assets** |  | $81186427 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($1,037,332 ÷ 89,720 shares)(a) |  | $11.56 |
| Maximum offering price per share (100/94.25 of $11.56) |  | $12.27 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($377,692 ÷ 32,725 shares)(a) |  | $11.54 |
| Maximum offering price per share (100/96.50 of $11.54) |  | $11.96 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($592,212 ÷ 51,484 shares)(a) |  | $11.50 |
| **Fidelity Sustainable Multi-Asset Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($75,439,710 ÷ 6,516,648 shares) |  | $11.58 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($3,739,481 ÷ 322,937 shares) |  | $11.58 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $1051280 |
| Income from Fidelity Central Funds  |  | 17 |
| **Total income** |  | 1051297 |
| **Expenses** |  |  |
| Management fee | $32729 |  |
| Distribution and service plan fees | 4420 |  |
| Independent trustees' fees and expenses | 67 |  |
| Total expenses before reductions | 37216 |  |
| Expense reductions | (16484) |  |
| Total expenses after reductions |  | 20732 |
| **Net Investment income (loss)** |  | 1030565 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers | 1274994 |  |
| Capital gain distributions from underlying funds: |  |  |
| Affiliated issuers | 498 |  |
| Total net realized gain (loss) |  | 1275492 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers  | (2867131) |  |
| Total change in net unrealized appreciation (depreciation) |  | (2867131) |
| **Net gain (loss)** |  | (1591639) |
| **Net increase (decrease) in net assets resulting from operations** |  | $(561074) |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $1030565 | $596327 |
| &nbsp;&nbsp;Net realized gain (loss) | 1275492<br>| (15364)<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (2867131) | 3732674<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | (561074)<br>| 4313637<br>|
| Distributions to shareholders | (2222377)<br>| (532031)<br>|
| Share transactions - net increase (decrease) | 38597095<br>| 13955300<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 35813644<br>| 17736906<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 45372783 | 27635877<br>|
| &nbsp;&nbsp;End of period | $81186427 | $45372783 |

---

**Financial Highlights** 

**Fidelity Advisor® Sustainable Multi-Asset Fund Class A**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.86 | $10.80 | $8.71 | $7.79 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .17  | .17  | .15  | .14  | .02  |
| Net realized and unrealized gain (loss)  | (.06)  | 1.05  | 2.09  | .91  | (2.23)  |
| Total from investment operations  | .11  | 1.22  | 2.24  | 1.05  | (2.21)  |
| Distributions from net investment income  | (.19)  | (.16)  | (.15)  | (.13)  | -  |
| Distributions from net realized gain  | (.22)  | -  | -  | -  | -  |
| Total distributions  | (.41)  | (.16)  | (.15)  | (.13)  | -  |
| Net asset value, end of period  | $11.56 | $11.86 | $10.80 | $8.71 | $7.79 |
| **Total Return** D,E,F | .82% <br>| 11.56%  | 25.95%  | 13.56%  | (22.10)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | .35% I | .35%  | .35%  | .35%  | .35% I |
| Expenses net of fee waivers, if any  | .30% I<br>| .30%  | .30%  | .30%  | .30% I |
| Expenses net of all reductions, if any  | .30% I | .30%  | .30%  | .30%  | .30% I |
| Net investment income (loss)  | 2.93% I | 1.54%  | 1.55%  | 1.66%  | .30% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1037 | $506 | $449 | $285 | $163 |
| Portfolio turnover rate J | 42% I<br>| 33%  | 38%  | 45%  | 111% I |

---

A*For the period February 10, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Multi-Asset Fund Class M**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.84 | $10.78 | $8.70 | $7.77 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .16  | .14  | .13  | .12  | - D |
| Net realized and unrealized gain (loss)  | (.07)  | 1.06  | 2.08  | .92  | (2.23)  |
| Total from investment operations  | .09  | 1.20  | 2.21  | 1.04  | (2.23)  |
| Distributions from net investment income  | (.17)  | (.14)  | (.13)  | (.11)  | -  |
| Distributions from net realized gain  | (.22)  | -  | -  | -  | -  |
| Total distributions  | (.39)  | (.14)  | (.13)  | (.11)  | -  |
| Net asset value, end of period  | $11.54 | $11.84 | $10.78 | $8.70 | $7.77 |
| **Total Return** E,F,G | .68% <br>| 11.30%  | 25.55%  | 13.46%  | (22.30)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |
| Expenses before reductions  | .60% J | .60%  | .60%  | .60%  | .60% J |
| Expenses net of fee waivers, if any  | .55% J<br>| .55%  | .55%  | .55%  | .55% J |
| Expenses net of all reductions, if any  | .55% J | .55%  | .55%  | .55%  | .55% J |
| Net investment income (loss)  | 2.68% J | 1.29%  | 1.30%  | 1.41%  | .05% J |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $378 | $300 | $264 | $206 | $169 |
| Portfolio turnover rate K | 42% J<br>| 33%  | 38%  | 45%  | 111% J |

---

A*For the period February 10, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Amount represents less than $.005 per share.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the sales charges.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Multi-Asset Fund Class C**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.77 | $10.73 | $8.66 | $7.75 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .13  | .08  | .08  | .08  | (.03)  |
| Net realized and unrealized gain (loss)  | (.06)  | 1.05  | 2.07  | .91  | (2.22)  |
| Total from investment operations  | .07  | 1.13  | 2.15  | .99  | (2.25)  |
| Distributions from net investment income  | (.11)  | (.09)  | (.08)  | (.08)  | -  |
| Distributions from net realized gain  | (.22)  | -  | -  | -  | -  |
| Total distributions  | (.34) D | (.09)  | (.08)  | (.08)  | -  |
| Net asset value, end of period  | $11.50 | $11.77 | $10.73 | $8.66 | $7.75 |
| **Total Return** E,F,G | .47% <br>| 10.63%  | 25.01%  | 12.80%  | (22.50)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |
| Expenses before reductions  | 1.10% J | 1.10%  | 1.10%  | 1.10%  | 1.10% J |
| Expenses net of fee waivers, if any  | 1.05% J<br>| 1.05%  | 1.05%  | 1.05%  | 1.05% J |
| Expenses net of all reductions, if any  | 1.05% J | 1.05%  | 1.05%  | 1.05%  | 1.05% J |
| Net investment income (loss)  | 2.18% J | .79%  | .80%  | .91%  | (.45)% J |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $592 | $504 | $421 | $312 | $229 |
| Portfolio turnover rate K | 42% J<br>| 33%  | 38%  | 45%  | 111% J |

---

A*For the period February 10, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the contingent deferred sales charge.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity® Sustainable Multi-Asset Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.89 | $10.83 | $8.73 | $7.80 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .19  | .19  | .18  | .17  | .03  |
| Net realized and unrealized gain (loss)  | (.06)  | 1.06  | 2.09  | .91  | (2.23)  |
| Total from investment operations  | .13  | 1.25  | 2.27  | 1.08  | (2.20)  |
| Distributions from net investment income  | (.22)  | (.19)  | (.17)  | (.15)  | -  |
| Distributions from net realized gain  | (.22)  | -  | -  | -  | -  |
| Total distributions  | (.44)  | (.19)  | (.17)  | (.15)  | -  |
| Net asset value, end of period  | $11.58 | $11.89 | $10.83 | $8.73 | $7.80 |
| **Total Return** D,E | .98% <br>| 11.82%  | 26.26%  | 13.91%  | (22.00)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | .10% H | .10%  | .10%  | .10%  | .10% H |
| Expenses net of fee waivers, if any  | .05% H<br>| .05%  | .05%  | .05%  | .05% H |
| Expenses net of all reductions, if any  | .05% H | .05%  | .05%  | .05%  | .05% H |
| Net investment income (loss)  | 3.18% H | 1.79%  | 1.80%  | 1.91%  | .55% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $75440 | $41015 | $24833 | $11866 | $4010 |
| Portfolio turnover rate I | 42% H<br>| 33%  | 38%  | 45%  | 111% H |

---

A*For the period February 10, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Multi-Asset Fund Class I**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.89 | $10.83 | $8.73 | $7.80 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .19  | .19  | .18  | .17  | .03  |
| Net realized and unrealized gain (loss)  | (.06)  | 1.06  | 2.09  | .91  | (2.23)  |
| Total from investment operations  | .13  | 1.25  | 2.27  | 1.08  | (2.20)  |
| Distributions from net investment income  | (.22)  | (.19)  | (.17)  | (.15)  | -  |
| Distributions from net realized gain  | (.22)  | -  | -  | -  | -  |
| Total distributions  | (.44)  | (.19)  | (.17)  | (.15)  | -  |
| Net asset value, end of period  | $11.58 | $11.89 | $10.83 | $8.73 | $7.80 |
| **Total Return** D,E | .97% <br>| 11.81%  | 26.26%  | 13.91%  | (22.00)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | .10% H | .10%  | .10%  | .10%  | .10% H |
| Expenses net of fee waivers, if any  | .05% H<br>| .05%  | .05%  | .05%  | .05% H |
| Expenses net of all reductions, if any  | .05% H | .05%  | .05%  | .05%  | .05% H |
| Net investment income (loss)  | 3.18% H | 1.79%  | 1.80%  | 1.91%  | .55% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3739 | $3047 | $1670 | $780 | $300 |
| Portfolio turnover rate I | 42% H<br>| 33%  | 38%  | 45%  | 111% H |

---

A*For the period February 10, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended March 31, 2026

**1. Organization.**

Fidelity Sustainable Multi-Asset Fund (the Fund) is a fund of Fidelity Charles Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Sustainable Multi-Asset Fund and Class I shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, and Class I are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions.

Each Fund is a fund of funds, and therefore invests in other funds instead of individual securities. Each Fund invests primarily in a combination of Fidelity mutual funds and exchange-traded funds.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Fund uses a third party pricing service approved by the Board of Trustees (the Board) to value its investments. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. The Fund categorizes the inputs to valuation techniques used to value its investments 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 the Fund's investments by major category are as follows:

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

Exchange-Traded Funds (ETFs) are valued at their last sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

The aggregate value of investments by input level as of March 31, 2026 is included at the end of the Fund's Schedule of Investments.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds are recorded on the ex-dividend date. Distributions from any underlying mutual funds or exchange-traded funds that are deemed to be return of capital are recorded as a reduction of cost of investments.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to short-term gain distributions from the underlying funds or ETFs, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $6777073 |
| **Gross unrealized depreciation** | <u>(1765720)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$5011353</u> |
| **Tax cost** | <u>$76179315</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(93936) |
| Long-term | <u>(77877)</u> |
| **Total capital loss carryforward** | <u>$(171813)</u> |

---

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Sustainable Multi-Asset Fund** | 51087005 | 13679425 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which each class of the Fund pays a monthly management fee. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses. During the period, the management fee for each class of the Fund was as follows:

---

| | |
|:---|:---|
|  | **Annual % of Class-Level Average Net Assets** |
| **Class A** | .10% |
| **Class M** | .10% |
| **Class C** | .10% |
| **Fidelity Sustainable Multi-Asset Fund** | .10% |
| **Class I** | .10% |

---

**Distribution and Service Plan Fees.** In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Distribution Fee** | **Service Fee** | **Total Fees ($)** | **Retained by FDC ($)** |
| **Class A**  | - % | .25% | 767 | 296 |
| **Class M** | .25% | .25% | 870 | 636 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2783</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1482</u> |
|  |  |  | <u>4420</u> | <u>2414</u> |

---

**Sales Load.** FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.

For the period, sales charge amounts retained by FDC were as follows:

---

| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Class A** | 696 |
| **Class M** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>48</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>744</u> |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.

**6. Expense Reductions.** 

The investment adviser contractually agreed to reimburse expenses of each class to the extent annual operating expenses exceeded certain levels of class-level average net assets as noted in the table below. This reimbursement will remain in place through January 31, 2027. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following classes were in reimbursement during the period:

---

| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Class A** | .30% | 155 |
| **Class M** | .55% | 90 |
| **Class C** | 1.05% | 144 |
| **Fidelity Sustainable Multi-Asset Fund** | .05% | 15229 |
| **Class I** | .05% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>858</u> |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; <u>16476</u> |

---

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $8.

**7. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **March 31, 2026** | **Year ended**<br> **September 30, 2025** |
| **Fidelity Sustainable Multi-Asset Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $18199 | $6917 |
| Class M | 12070 | 3383 |
| Class C | 15543 | 3436 |
| Fidelity Sustainable Multi-Asset Fund | 2059226 | 488123 |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp; <u>117339</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>30172</u> |
| Total  | <u>$2222377</u> | <u>$532031</u> |

---

**8. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025** | **Six months ended** <br> **March 31, 2026**  | **Year ended**<br> **September 30, 2025** |
| **Fidelity Sustainable Multi-Asset Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 46276 | 8428 | $550151 | $91606 |
| Reinvestment of distributions  | 1533 | 669 | 18200 | 6917 |
| Shares redeemed | <u>(791)</u> | <u>(7921)</u> | <u>(9372)</u> | <u>(81960)</u> |
| Net increase (decrease) | <u>47018</u> | <u>1176</u> | <u>$558979</u> | <u>$16563</u> |
| **Class M** |  |  |  |  |
| Shares sold | 6368 | 602 | $77562 | $6479 |
| Reinvestment of distributions  | 1018 | 327 | 12069 | 3383 |
| Shares redeemed | <u>(38)</u> | <u>(2)</u> | <u>(426)</u> | <u>(22)</u> |
| Net increase (decrease) | <u>7348</u> | <u>927</u> | <u>$89205</u> | <u>$9840</u> |
| **Class C** |  |  |  |  |
| Shares sold | 7761 | 6319 | $93699 | $67311 |
| Reinvestment of distributions  | 1314 | 333 | 15543 | 3436 |
| Shares redeemed | <u>(383)</u> | <u>(3123)</u> | <u>(4540)</u> | <u>(33202)</u> |
| Net increase (decrease) | <u>8692</u> | <u>3529</u> | <u>$104702</u> | <u>$37545</u> |
| **Fidelity Sustainable Multi-Asset Fund** |  |  |  |  |
| Shares sold | 3581761 | 1823042 | $43264123 | $19922219 |
| Reinvestment of distributions  | 161169 | 43025 | 1914685 | 444881 |
| Shares redeemed | <u>(676597)</u> | <u>(708353)</u> | <u>(8139228)</u> | <u>(7598615)</u> |
| Net increase (decrease) | <u>3066333</u> | <u>1157714</u> | <u>$37039580</u> | <u>$12768485</u> |
| **Class I** |  |  |  |  |
| Shares sold | 73441 | 114107 | $888242 | $1258145 |
| Reinvestment of distributions  | 9256 | 2771 | 109956 | 28653 |
| Shares redeemed | <u>(16077)</u> | <u>(14698)</u> | <u>(193569)</u> | <u>(163931)</u> |
| Net increase (decrease) | <u>66620</u> | <u>102180</u> | <u>$804629</u> | <u>$1122867</u> |

---

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

Funds do not invest in underlying mutual funds for the purpose of exercising management or control; however, investments by funds within their principal investment strategies may represent a significant portion of the underlying mutual fund's net assets. At the end of the period, certain Funds were the owners of record of 10% or more of the total outstanding shares of the following underlying mutual funds as shown below.

---

| | |
|:---|:---|
| **Fund**  | **Fidelity Sustainable Multi-Asset Fund** |
| Fidelity Sustainable Emerging Markets Equity Fund | 22% |
| Fidelity Sustainable International Equity Fund  | 50% |
| Fidelity Sustainable Core Plus Bond Fund | 19% |

---

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img129638_4.jpg)<br>

1.9904617.104 MAF-SANN-0526

**30% Allocation Fund**

**50% Allocation Fund**

**70% Allocation Fund**

**85% Allocation Fund**

**Semi-Annual Report**

**March 31, 2026**

![](img129639_1.jpg)

![](img129639_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_HSA-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[30% Allocation Fund](#Sub_Sec_Fund_6497_HSA-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[50% Allocation Fund](#Sub_Sec_Fund_6498_HSA-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[70% Allocation Fund](#Sub_Sec_Fund_6499_HSA-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[85% Allocation Fund](#Sub_Sec_Fund_6501_HSA-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6497_HSA-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_HSA-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_HSA-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_HSA-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_HSA-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

"BLOOMBERG®" and the Bloomberg indices listed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by Fidelity. Bloomberg is not affiliated with Fidelity, and Bloomberg does not approve, endorse, review, or recommend a fund. Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to a fund.

The index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for us by Fidelity. S&P®;, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates ("S&P") and Dow Jones®; is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). A fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index or indices.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Funds nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**30% Allocation Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 49.9%** | &nbsp;&nbsp;**Bond Funds - 49.9%** | &nbsp;&nbsp;**Bond Funds - 49.9%** |
|  | Shares | Value ($)<br>|
| Fidelity U.S. Bond Index Fund (a)<br>(Cost $201,109)<br>| 18932 | **198216** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 21.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 21.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total Market Index Fund (a)<br>(Cost $58,464)<br>| 467 | **83817** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 9.0%** | &nbsp;&nbsp;**International Equity Funds - 9.0%** | &nbsp;&nbsp;**International Equity Funds - 9.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Total International Index Fund (a)<br>(Cost $26,739)<br>| 2044 | **36038** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 20.0%** | &nbsp;&nbsp;**Short-Term Funds - 20.0%** | &nbsp;&nbsp;**Short-Term Funds - 20.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Short-Term Bond Index Fund (a)<br>(Cost $77,454)<br>| 7882 | **79298** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $363,766)<br>| <br>**397369** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **2** |
| **NET ASSETS - 100.0%** | **397371** |

---

**Legend**

(a) Affiliated fund.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Short-Term Bond Index Fund | 77930 | 6690 | 4694 | 1611 | 14 | (642) | 79298 | 7882 |
| Fidelity Total International Index Fund | 35672 | 4716 | 5732 | 966 | 599 | 783 | 36038 | 2044 |
| Fidelity Total Market Index Fund | 82990 | 8383 | 5231 | 765 | 522 | (2847) | 83817 | 467 |
| Fidelity U.S. Bond Index Fund | 195063 | 15902 | 11240 | 3616 | 218 | (1727) | 198216 | 18932 |
|  | 391655 | 35691 | 26897 | 6958 | 1353 | (4433) | 397369 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 198216 | 198216 | - | - |
|  **Domestic Equity Funds** | 83817 | 83817 | - | - |
|  **International Equity Funds** | 36038 | 36038 | - | - |
|  **Short-Term Funds** | 79298 | 79298 | - | - |
| **Total Investments in Securities:** | 397369 | 397369 | - | - |

---

**30% Allocation Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Affiliated issuers (cost $363,766) | $397369 |  |
| Total Investment in Securities (cost $363,766) |  | $397369 |
| Cash |  | 1 |
| Receivable for investments sold |  | 4473 |
| Receivable for fund shares sold |  | 201 |
| **Total assets** |  | 402044 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $4673 |  |
| **Total liabilities** |  | 4673 |
| **Net Assets**  |  | $397371 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $365083 |
| Total accumulated earnings (loss) |  | 32288 |
| **Net Assets** |  | $397371 |
| **Net Asset Value**, offering price and redemption price per share ($397,371 ÷ 37,747 shares) |  | $10.53 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $6958 |
| **Expenses** |  |  |
| Management fee | $196 |  |
| Independent trustees' fees and expenses | 1 |  |
| Total expenses before reductions | 197 |  |
| Expense reductions | (196) |  |
| Total expenses after reductions |  | 1 |
| **Net Investment income (loss)** |  | 6957 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers | 1353 |  |
| Total net realized gain (loss) |  | 1353 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers  | (4433) |  |
| Total change in net unrealized appreciation (depreciation) |  | (4433) |
| **Net gain (loss)** |  | (3080) |
| **Net increase (decrease) in net assets resulting from operations** |  | $3877 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $6957 | $9584 |
| &nbsp;&nbsp;Net realized gain (loss) | 1353<br>| 965<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (4433) | 15403<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 3877<br>| 25952<br>|
| Distributions to shareholders | (7695)<br>| (9251)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 17140 | 60828 |
| Reinvestment of distributions | 7696<br>| 9251<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (15302) | (5161) |
| **Net increase (decrease) in net assets resulting from share transactions** | 9534<br>| 64918<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 5716<br>| 81619<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 391655 | 310036<br>|
| &nbsp;&nbsp;End of period | $397371 | $391655 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 1596 | 5987 |
| Issued in reinvestment of distributions | 722<br>| 923<br>|
| &nbsp;&nbsp;Redeemed | (1437) | (503) |
| &nbsp;&nbsp;Net increase (decrease) | 881 | 6407 |

---

**Financial Highlights** 

**30% Allocation Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $10.62 | $10.18 | $8.94 | $8.55 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .19  | .29  | .24  | .20  | .08  |
| Net realized and unrealized gain (loss)  | (.07)  | .44  | 1.24  | .39  | (1.47)  |
| Total from investment operations  | .12  | .73  | 1.48  | .59  | (1.39)  |
| Distributions from net investment income  | (.19)  | (.29)  | (.24)  | (.20)  | (.06)  |
| Distributions from net realized gain  | (.02)  | -  | -  | -  | -  |
| Total distributions  | (.21)  | (.29)  | (.24)  | (.20)  | (.06)  |
| Net asset value, end of period  | $10.53 | $10.62 | $10.18 | $8.94 | $8.55 |
| **Total Return** D,E | 1.12% <br>| 7.34%  | 16.82%  | 6.90%  | (13.93)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | .10% H | .10%  | .10%  | .11%  | .10% H |
| Expenses net of fee waivers, if any I | -% H<br>| -%  | -%  | -%  | -% H |
| Expenses net of all reductions, if any I | -% H | -%  | -%  | -%  | -% H |
| Net investment income (loss)  | 3.54% H | 2.87%  | 2.56%  | 2.21%  | 1.36% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $397 | $392 | $310 | $218 | $158 |
| Portfolio turnover rate J | 14% H<br>| 9%  | 11%  | 19%  | 11% H |

---

A*For the period February 9, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount represents less than .005%.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**50% Allocation Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 39.8%** | &nbsp;&nbsp;**Bond Funds - 39.8%** | &nbsp;&nbsp;**Bond Funds - 39.8%** |
|  | Shares | Value ($)<br>|
| Fidelity U.S. Bond Index Fund (a)<br>(Cost $525,343)<br>| 50437 | **528077** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 35.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 35.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 35.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total Market Index Fund (a)<br>(Cost $355,762)<br>| 2595 | **465599** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 15.1%** | &nbsp;&nbsp;**International Equity Funds - 15.1%** | &nbsp;&nbsp;**International Equity Funds - 15.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total International Index Fund (a)<br>(Cost $153,444)<br>| 11370 | **200445** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 10.0%** | &nbsp;&nbsp;**Short-Term Funds - 10.0%** | &nbsp;&nbsp;**Short-Term Funds - 10.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Short-Term Bond Index Fund (a)<br>(Cost $129,382)<br>| 13154 | **132331** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $1,163,931)<br>| <br>**1326452** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **0** |
| **NET ASSETS - 100.0%** | **1326452** |

---

**Legend**

(a) Affiliated fund.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Short-Term Bond Index Fund | 123042 | 17466 | 7085 | 2716 | (55) | (1037) | 132331 | 13154 |
| Fidelity Total International Index Fund | 187864 | 30206 | 25201 | 5554 | 1197 | 6379 | 200445 | 11370 |
| Fidelity Total Market Index Fund | 438152 | 59218 | 18521 | 4412 | 61 | (13311) | 465599 | 2595 |
| Fidelity U.S. Bond Index Fund | 495003 | 66837 | 29503 | 9667 | (720) | (3540) | 528077 | 50437 |
|  | 1244061 | 173727 | 80310 | 22349 | 483 | (11509) | 1326452 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 528077 | 528077 | - | - |
|  **Domestic Equity Funds** | 465599 | 465599 | - | - |
|  **International Equity Funds** | 200445 | 200445 | - | - |
|  **Short-Term Funds** | 132331 | 132331 | - | - |
| **Total Investments in Securities:** | 1326452 | 1326452 | - | - |

---

**50% Allocation Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Affiliated issuers (cost $1,163,931) | $1326452 |  |
| Total Investment in Securities (cost $1,163,931) |  | $1326452 |
| Receivable for investments sold |  | 17409 |
| Receivable for fund shares sold |  | 2119 |
| **Total assets** |  | 1345980 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $19528 |  |
| **Total liabilities** |  | 19528 |
| **Net Assets**  |  | $1326452 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1165308 |
| Total accumulated earnings (loss) |  | 161144 |
| **Net Assets** |  | $1326452 |
| **Net Asset Value**, offering price and redemption price per share ($1,326,452 ÷ 116,837 shares) |  | $11.35 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $22349 |
| **Expenses** |  |  |
| Management fee | $656 |  |
| Independent trustees' fees and expenses | 2 |  |
| Total expenses before reductions | 658 |  |
| Expense reductions | (656) |  |
| Total expenses after reductions |  | 2 |
| **Net Investment income (loss)** |  | 22347 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers | 483 |  |
| Total net realized gain (loss) |  | 483 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers  | (11509) |  |
| Total change in net unrealized appreciation (depreciation) |  | (11509) |
| **Net gain (loss)** |  | (11026) |
| **Net increase (decrease) in net assets resulting from operations** |  | $11321 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $22347 | $24312 |
| &nbsp;&nbsp;Net realized gain (loss) | 483<br>| (782)<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (11509) | 85181<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 11321<br>| 108711<br>|
| Distributions to shareholders | (23239)<br>| (22490)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 107406 | 346469 |
| Reinvestment of distributions | 23220<br>| 22482<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (36317) | (33168) |
| **Net increase (decrease) in net assets resulting from share transactions** | 94309<br>| 335783<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 82391<br>| 422004<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1244061 | 822057<br>|
| &nbsp;&nbsp;End of period | $1326452 | $1244061 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 9261 | 32444 |
| Issued in reinvestment of distributions | 2019<br>| 2162<br>|
| &nbsp;&nbsp;Redeemed | (3144) | (3135) |
| &nbsp;&nbsp;Net increase (decrease) | 8136 | 31471 |

---

**Financial Highlights** 

**50% Allocation Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.44 | $10.64 | $8.98 | $8.29 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .20  | .26  | .22  | .18  | .06  |
| Net realized and unrealized gain (loss)  | (.08)  | .80  | 1.66  | .69  | (1.74)  |
| Total from investment operations  | .12  | 1.06  | 1.88  | .87  | (1.68)  |
| Distributions from net investment income  | (.19)  | (.25)  | (.22)  | (.18)  | (.03)  |
| Distributions from net realized gain  | (.01)  | - D | -  | -  | -  |
| Total distributions  | (.21) E | (.26) E | (.22)  | (.18)  | (.03)  |
| Net asset value, end of period  | $11.35 | $11.44 | $10.64 | $8.98 | $8.29 |
| **Total Return** F,G | .99% <br>| 10.20%  | 21.17%  | 10.62%  | (16.81)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |
| Expenses before reductions  | .10% J | .10%  | .10%  | .11%  | .10% J |
| Expenses net of fee waivers, if any K | -% J<br>| -%  | -%  | -%  | -% J |
| Expenses net of all reductions, if any K | -% J | -%  | -%  | -%  | -% J |
| Net investment income (loss)  | 3.41% J | 2.46%  | 2.28%  | 2.05%  | 1.07% J |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1326 | $1244 | $822 | $440 | $252 |
| Portfolio turnover rate L | 12% J<br>| 12%  | 15%  | 21%  | 12% J |

---

A*For the period February 9, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Amount represents less than $.005 per share.*

E*Total distributions per share do not sum due to rounding.*

F*Total returns for periods of less than one year are not annualized.*

G*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount represents less than .005%.*

L*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**70% Allocation Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 24.8%** | &nbsp;&nbsp;**Bond Funds - 24.8%** | &nbsp;&nbsp;**Bond Funds - 24.8%** |
|  | Shares | Value ($)<br>|
| Fidelity U.S. Bond Index Fund (a)<br>(Cost $389,056)<br>| 37224 | **389731** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 49.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 49.1%** | &nbsp;&nbsp;**Domestic Equity Funds - 49.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total Market Index Fund (a)<br>(Cost $573,309)<br>| 4290 | **769549** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 21.1%** | &nbsp;&nbsp;**International Equity Funds - 21.1%** | &nbsp;&nbsp;**International Equity Funds - 21.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total International Index Fund (a)<br>(Cost $250,202)<br>| 18803 | **331493** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Short-Term Funds - 5.0%** | &nbsp;&nbsp;**Short-Term Funds - 5.0%** | &nbsp;&nbsp;**Short-Term Funds - 5.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Short-Term Bond Index Fund (a)<br>(Cost $76,676)<br>| 7799 | **78458** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $1,289,243)<br>| <br>**1569231** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **0** |
| **NET ASSETS - 100.0%** | **1569231** |

---

**Legend**

(a) Affiliated fund.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Short-Term Bond Index Fund | 71958 | 11595 | 4453 | 1588 | (31) | (611) | 78458 | 7799 |
| Fidelity Total International Index Fund | 310062 | 43999 | 35127 | 8911 | 2019 | 10540 | 331493 | 18803 |
| Fidelity Total Market Index Fund | 723918 | 89026 | 21348 | 7129 | 87 | (22134) | 769549 | 4290 |
| Fidelity U.S. Bond Index Fund | 364938 | 53555 | 25572 | 7138 | (781) | (2409) | 389731 | 37224 |
|  | 1470876 | 198175 | 86500 | 24766 | 1294 | (14614) | 1569231 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 389731 | 389731 | - | - |
|  **Domestic Equity Funds** | 769549 | 769549 | - | - |
|  **International Equity Funds** | 331493 | 331493 | - | - |
|  **Short-Term Funds** | 78458 | 78458 | - | - |
| **Total Investments in Securities:** | 1569231 | 1569231 | - | - |

---

**70% Allocation Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Affiliated issuers (cost $1,289,243) | $1569231 |  |
| Total Investment in Securities (cost $1,289,243) |  | $1569231 |
| Receivable for investments sold |  | 18327 |
| Receivable for fund shares sold |  | 730 |
| **Total assets** |  | 1588288 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $19057 |  |
| **Total liabilities** |  | 19057 |
| **Net Assets**  |  | $1569231 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1290958 |
| Total accumulated earnings (loss) |  | 278273 |
| **Net Assets** |  | $1569231 |
| **Net Asset Value**, offering price and redemption price per share ($1,569,231 ÷ 127,618 shares) |  | $12.30 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $24766 |
| **Expenses** |  |  |
| Management fee | $774 |  |
| Independent trustees' fees and expenses | 2 |  |
| Total expenses before reductions | 776 |  |
| Expense reductions | (774) |  |
| Total expenses after reductions |  | 2 |
| **Net Investment income (loss)** |  | 24764 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers | 1294 |  |
| Total net realized gain (loss) |  | 1294 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers  | (14614) |  |
| Total change in net unrealized appreciation (depreciation) |  | (14614) |
| **Net gain (loss)** |  | (13320) |
| **Net increase (decrease) in net assets resulting from operations** |  | $11444 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $24764 | $25608 |
| &nbsp;&nbsp;Net realized gain (loss) | 1294<br>| (199)<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (14614) | 139433<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 11444<br>| 164842<br>|
| Distributions to shareholders | (30487)<br>| (22787)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 126419 | 311489 |
| Reinvestment of distributions | 30487<br>| 22787<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (39508) | (90931) |
| **Net increase (decrease) in net assets resulting from share transactions** | 117398<br>| 243345<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 98355<br>| 385400<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1470876 | 1085476<br>|
| &nbsp;&nbsp;End of period | $1569231 | $1470876 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 10002 | 27521 |
| Issued in reinvestment of distributions | 2431<br>| 2092<br>|
| &nbsp;&nbsp;Redeemed | (3134) | (8115) |
| &nbsp;&nbsp;Net increase (decrease) | 9299 | 21498 |

---

**Financial Highlights** 

**70% Allocation Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $12.43 | $11.21 | $9.09 | $8.07 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .20  | .24  | .20  | .17  | .04  |
| Net realized and unrealized gain (loss)  | (.08)  | 1.20  | 2.09  | 1.00  | (1.97)  |
| Total from investment operations  | .12  | 1.44  | 2.29  | 1.17  | (1.93)  |
| Distributions from net investment income  | (.25)  | (.22)  | (.17)  | (.15)  | -  |
| Distributions from net realized gain  | - D | -  | -  | -  | -  |
| Total distributions  | (.25)  | (.22)  | (.17)  | (.15)  | -  |
| Net asset value, end of period  | $12.30 | $12.43 | $11.21 | $9.09 | $8.07 |
| **Total Return** E,F | .93% <br>| 13.11%  | 25.50%  | 14.55%  | (19.30)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | .10% I | .10%  | .10%  | .11%  | .10% I |
| Expenses net of fee waivers, if any J | -% I<br>| -%  | -%  | -%  | -% I |
| Expenses net of all reductions, if any J | -% I | -%  | -%  | -%  | -% I |
| Net investment income (loss)  | 3.20% I | 2.10%  | 1.99%  | 1.94%  | .73% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1569 | $1471 | $1085 | $540 | $340 |
| Portfolio turnover rate K | 11% I<br>| 16%  | 7%  | 26%  | 34% I |

---

A*For the period February 9, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Amount represents less than $.005 per share.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Amount represents less than .005%.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**85% Allocation Fund**

**Schedule of Investments March 31, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bond Funds - 14.9%** | &nbsp;&nbsp;**Bond Funds - 14.9%** | &nbsp;&nbsp;**Bond Funds - 14.9%** |
|  | Shares | Value ($)<br>|
| Fidelity U.S. Bond Index Fund (a)<br>(Cost $301,372)<br>| 29055 | **304207** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 60.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 60.0%** | &nbsp;&nbsp;**Domestic Equity Funds - 60.0%** |
|  | Shares | Value ($)<br>|
| Fidelity Total Market Index Fund (a)<br>(Cost $917,791)<br>| 6846 | **1228129** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 25.1%** | &nbsp;&nbsp;**International Equity Funds - 25.1%** | &nbsp;&nbsp;**International Equity Funds - 25.1%** |
|  | Shares | Value ($)<br>|
| Fidelity Total International Index Fund (a)<br>(Cost $387,243)<br>| 29145 | **513823** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.0%**<br> (Cost $1,606,406)<br>| <br>**2046159** |
| **NET OTHER ASSETS (LIABILITIES) - 0.0%**  | **(1)** |
| **NET ASSETS - 100.0%** | **2046158** |

---

**Legend**

(a) Affiliated fund.

**Affiliated Underlying Funds**

Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period |
| Fidelity Total International Index Fund | 480493 | 84343 | 71984 | 13816 | 6217 | 14754 | 513823 | 29145 |
| Fidelity Total Market Index Fund | 1152475 | 182938 | 71772 | 11558 | (212) | (35300) | 1228129 | 6846 |
| Fidelity U.S. Bond Index Fund | 284431 | 55179 | 32992 | 5659 | (727) | (1684) | 304207 | 29055 |
|  | 1917399 | 322460 | 176748 | 31033 | 5278 | (22230) | 2046159 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of March 31, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Bond Funds** | 304207 | 304207 | - | - |
|  **Domestic Equity Funds** | 1228129 | 1228129 | - | - |
|  **International Equity Funds** | 513823 | 513823 | - | - |
| **Total Investments in Securities:** | 2046159 | 2046159 | - | - |

---

**85% Allocation Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** | <br> **As of March 31, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Affiliated issuers (cost $1,606,406) | $2046159 |  |
| Total Investment in Securities (cost $1,606,406) |  | $2046159 |
| Receivable for investments sold |  | 18069 |
| Receivable for fund shares sold |  | 2658 |
| **Total assets** |  | 2066886 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $20728 |  |
| **Total liabilities** |  | 20728 |
| **Net Assets**  |  | $2046158 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1606004 |
| Total accumulated earnings (loss) |  | 440154 |
| **Net Assets** |  | $2046158 |
| **Net Asset Value**, offering price and redemption price per share ($2,046,158 ÷ 159,050 shares) |  | $12.86 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** | **Six months ended March 31, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends: |  |  |
| Affiliated issuers |  | $31033 |
| **Expenses** |  |  |
| Management fee | $1022 |  |
| Independent trustees' fees and expenses | 2 |  |
| Total expenses before reductions | 1024 |  |
| Expense reductions | (1022) |  |
| Total expenses after reductions |  | 2 |
| **Net Investment income (loss)** |  | 31031 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers | 5278 |  |
| Total net realized gain (loss) |  | 5278 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Affiliated issuers  | (22230) |  |
| Total change in net unrealized appreciation (depreciation) |  | (22230) |
| **Net gain (loss)** |  | (16952) |
| **Net increase (decrease) in net assets resulting from operations** |  | $14079 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)** | **Year ended**<br> **September 30, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $31031 | $26453 |
| &nbsp;&nbsp;Net realized gain (loss) | 5278<br>| 1950<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (22230) | 216553<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 14079<br>| 244956<br>|
| Distributions to shareholders | (38652)<br>| (25327)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 233005 | 424759 |
| Reinvestment of distributions | 38368<br>| 25327<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (118040) | (69247) |
| **Net increase (decrease) in net assets resulting from share transactions** | 153333<br>| 380839<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 128760<br>| 600468<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1917398 | 1316930<br>|
| &nbsp;&nbsp;End of period | $2046158 | $1917398 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 17532 | 36522 |
| Issued in reinvestment of distributions | 2911<br>| 2255<br>|
| &nbsp;&nbsp;Redeemed | (8773) | (5889) |
| &nbsp;&nbsp;Net increase (decrease) | 11670 | 32888 |

---

**Financial Highlights** 

**85% Allocation Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **March 31, 2026**<br> **(Unaudited)**  | **Years ended September 30, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $13.01 | $11.50 | $9.08 | $7.87 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .20  | .20  | .19  | .15  | .03  |
| Net realized and unrealized gain (loss)  | (.10)  | 1.53  | 2.41  | 1.21  | (2.16)  |
| Total from investment operations  | .10  | 1.73  | 2.60  | 1.36  | (2.13)  |
| Distributions from net investment income  | (.23)  | (.21)  | (.18)  | (.15)  | -  |
| Distributions from net realized gain  | (.02)  | - D | -  | -  | -  |
| Total distributions  | (.25)  | (.22) E | (.18)  | (.15)  | -  |
| Net asset value, end of period  | $12.86 | $13.01 | $11.50 | $9.08 | $7.87 |
| **Total Return** F,G | .73% <br>| 15.32%  | 28.94%  | 17.49%  | (21.30)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |
| Expenses before reductions  | .10% J | .10%  | .10%  | .11%  | .10% J |
| Expenses net of fee waivers, if any K | -% J<br>| -%  | -%  | -%  | -% J |
| Expenses net of all reductions, if any K | -% J | -%  | -%  | -%  | -% J |
| Net investment income (loss)  | 3.04% J | 1.69%  | 1.81%  | 1.68%  | .46% J |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2046 | $1917 | $1317 | $741 | $353 |
| Portfolio turnover rate L | 17% J<br>| 12%  | 7%  | 20%  | 14% J |

---

A*For the period February 9, 2022 (commencement of operations) through September 30, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Amount represents less than $.005 per share.*

E*Total distributions per share do not sum due to rounding.*

F*Total returns for periods of less than one year are not annualized.*

G*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Amount represents less than .005%.*

L*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended March 31, 2026

**1. Organization.**

30% Allocation Fund, 50% Allocation Fund, 70% Allocation Fund and 85% Allocation Fund (the Funds) are funds of Fidelity Charles Street Trust (the Trust). Each Fund is authorized to issue an unlimited number of shares. Shares are available only to certain health savings accounts that are made available through Raytheon. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

Each Fund is a fund of funds, and therefore invests in other funds instead of individual securities. Each Fund invests primarily in a combination of two Fidelity equity index funds (U.S. and international) and two Fidelity investment-grade bond index funds.

**2. Significant Accounting Policies.**

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Each Fund operates as a single operating segment. Each Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund categorizes the inputs to valuation techniques used to value its investments 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 each Fund's investments by major category are as follows:

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

The aggregate value of investments by input level as of March 31, 2026 is included at the end of each Fund's Schedule of Investments.

**Investment Transactions and Income.** For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds are recorded on the ex-dividend date.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Tax cost ($)**  | **Gross unrealized appreciation ($)** | **Gross unrealized depreciation ($)** | **Net unrealized appreciation (depreciation)($)** |
| **30% Allocation Fund** | 366208 | 37459 | (6298) | 31161 |
| **50% Allocation Fund** | 1170623 | 165243 | (9414) | 155829 |
| **70% Allocation Fund** | 1295227 | 283518 | (9514) | 274004 |
| **85% Allocation Fund** | 1612881 | 441229 | (7951) | 433278 |

---

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-term ($)** | **Long-term ($)** | **Total capital loss carryforward ($)** |
| **70% Allocation Fund** | (60) | (2) | (62) |

---

Due to large subscriptions in a prior period, 50% Allocation Fund and 85% Allocation Fund are subject to annual limits on their use of some of their unrealized capital losses to offset capital gains in future periods. If those capital losses are realized and the limitation prevents the Funds from using any of those capital losses in a future period, those capital losses will be available to offset capital gains in subsequent periods.

**3. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **30% Allocation Fund** | 35691 | 26897 |
| **50% Allocation Fund** | 173727 | 80310 |
| **70% Allocation Fund** | 198175 | 86500 |
| **85% Allocation Fund** | 322460 | 176748 |

---

**4. Fees and Other Transactions with Affiliates.**

**Management Fee**. Fidelity Management & Research Company LLC (the investment adviser) provides the Funds with investment management related services. For these services each Fund pays a monthly management fee to the investment adviser. The management fee is based on an annual rate of .10% of each Fund's average net assets. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

During the period, the investment adviser waived its management fee as described in the Expense Reductions note.

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.

**5. Expense Reductions.**

The investment adviser contractually agreed to waive each Fund's management fee in an amount equal to .10% of average net assets until January 31, 2028. For the period, management fees were reduced by the following amounts:

---

| | |
|:---|:---|
|  | **Management Fee Waiver ($)** |
| **30% Allocation Fund** | 196 |
| **50% Allocation Fund** | 656 |
| **70% Allocation Fund** | 774 |
| **85% Allocation Fund** | 1022 |

---

**6. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, the investment adviser or its affiliates were owners of record of more than 10% of the outstanding shares as follows:

---

| | |
|:---|:---|
| **Fund** | **Affiliated %** |
| **30% Allocation Fund** | 19% |

---

**7. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img129639_4.jpg)<br>

1.9904653.104 HSA-SANN-0526

Item 8.

<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>

See Item 7.

Item 9.

<u>Proxy Disclosures for Open-End Management Investment Companies</u>

See Item 7.

Item 10.

<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>

See Item 7.

Item 11.

<u>Statement Regarding Basis for Approval of Investment Advisory Contract</u>

See Item 7.

Item 12.

<u>Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies</u>

Not applicable.

Item 13.

<u>Portfolio Managers of Closed-End Management Investment Companies</u>

Not applicable.

Item 14.

<u>Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers</u>

Not applicable.

Item 15.

<u>Submission of Matters to a Vote of Security Holders</u>

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Charles Street Trust's Board of Trustees.

Item 16.

<u>Controls and Procedures</u>

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Charles 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 17.

<u>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>

Not applicable.

Item 18.

<u>Recovery of Erroneously Awarded Compensation</u>

(a) Not applicable.

(b) Not applicable.

Item 19.

<u>Exhibits</u>

(a) (1) Not applicable.

(a) (2) [Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.](ex99.htm)

(a) (3) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.](ex99.906.htm)

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 Charles Street Trust

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Laura M. Del Prato</u> |
|  | &nbsp;&nbsp; Laura M. Del Prato |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; May 21, 2026 |

---

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.

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Laura M. Del Prato</u> |
|  | &nbsp;&nbsp; Laura M. Del Prato |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; May 21, 2026 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
|  | &nbsp;&nbsp; Stephanie Caron |
|  | &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; May 21, 2026 |

---

## Ex-99.Cert

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<u>Exhibit EX-99.CERT</u>

I, Laura M. Del Prato, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Charles Street Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

May 21, 2026

---

| |
|:---|
| &nbsp;&nbsp;<u>/s/Laura M. Del Prato</u> |
| &nbsp;&nbsp;Laura M. Del Prato |
| &nbsp;&nbsp;President and Treasurer (Principal Executive Officer) |

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I, Stephanie Caron, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Charles Street Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

May 21, 2026

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| |
|:---|
| &nbsp;&nbsp;<u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp;Stephanie Caron |
| &nbsp;&nbsp;Chief Financial Officer (Principal Financial Officer) |

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## Exhibit 99.906

<u>Exhibit EX-99.906CERT</u>

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)**

In connection with the attached Report of Fidelity Charles Street Trust (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: May 21, 2026

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| |
|:---|
| &nbsp;&nbsp;<u>/s/Laura M. Del Prato</u> |
| &nbsp;&nbsp;Laura M. Del Prato |
| &nbsp;&nbsp;President and Treasurer (Principal Executive Officer) |

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Dated: May 21, 2026

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| |
|:---|
| &nbsp;&nbsp;<u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp;Stephanie Caron |
| &nbsp;&nbsp;Chief Financial Officer (Principal Financial Officer) |

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A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

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