# EDGAR Filing Document

**Accession Number:** 0000035315
**File Stem:** 0001752724-23-014704
**Filing Date:** 2023-1
**Character Count:** 55978
**Document Hash:** 999cefa0b7360f567359f1df44aa9c09
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014704.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014704

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY SALEM STREET TRUST
- **CENTRAL INDEX KEY:** 0000035315
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02105
- **FILM NUMBER:** 23556559

**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 FIXED INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY FLEXIBLE BOND FUND
- **DATE OF NAME CHANGE:** 19860904

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY CORPORATE BOND FUND INC
- **DATE OF NAME CHANGE:** 19851225

## Series and Classes Contracts Data

### Fidelity Tactical Bond Fund (Series ID: S000075287)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000234189 | Fidelity Tactical Bond Fund                  | FBAGX           |
| C000234190 | Fidelity Advisor Tactical Bond Fund: Class Z | FBAPX           |
| C000234191 | Fidelity Advisor Tactical Bond Fund: Class A | FTKAX           |
| C000234192 | Fidelity Advisor Tactical Bond Fund: Class C | FTKCX           |
| C000234193 | Fidelity Advisor Tactical Bond Fund: Class M | FTYMX           |
| C000234194 | Fidelity Advisor Tactical Bond Fund: Class I | FBAHX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **Tactical Bond Fund**

**November 30, 2022**

TBF-NPRT1-0123

1.9904498.100 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Nonconvertible Bonds - 10.9%** | &nbsp;&nbsp;**Nonconvertible Bonds - 10.9%** | &nbsp;&nbsp;**Nonconvertible Bonds - 10.9%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| COMMUNICATION SERVICES - 2.4%  |  |  |
| Media - 1.3% |  |  |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp.: |  |  |
|  3.7% 4/1/51  | 250000  | 159687  |
|  5.5% 4/1/63  | 130000  | 104161  |
| Magallanes, Inc.: |  |  |
|  5.05% 3/15/42 (b) | 10000  | 8005  |
|  5.141% 3/15/52 (b) | 16000  | 12398  |
| Sirius XM Radio, Inc. 4.125% 7/1/30 (b) | 140000 | 118135 |
|  |  | 402386 |
| Wireless Telecommunication Services - 1.1% |  |  |
| Millicom International Cellular SA: |  |  |
|  4.5% 4/27/31 (b) | 310000  | 253541  |
|  6.25% 3/25/29 (b) | 72000  | 68228  |
|  |  | 321769 |
| TOTAL COMMUNICATION SERVICES |  | 724155 |
| CONSUMER DISCRETIONARY - 1.1%  |  |  |
| Household Durables - 1.1% |  |  |
| Toll Brothers Finance Corp. 4.875% 3/15/27  | 360000 | 337298 |
| ENERGY - 3.6%  |  |  |
| Oil, Gas & Consumable Fuels - 3.6% |  |  |
| DCP Midstream Operating LP 5.85% 5/21/43 (b)(c) | 260000 | 254359 |
| Kinder Morgan, Inc. 3.6% 2/15/51  | 600000 | 427524 |
| Petroleos Mexicanos 7.69% 1/23/50  | 250000 | 170175 |
| Targa Resources Corp.: |  |  |
|  4.2% 2/1/33  | 130000  | 113682  |
|  4.95% 4/15/52  | 130000  | 105668  |
|  |  | 1071408 |
| FINANCIALS - 2.6%  |  |  |
| Banks - 1.5% |  |  |
| Bank of America Corp. 2.299% 7/21/32 (c) | 280000 | 219387 |
| Intesa Sanpaolo SpA 5.71% 1/15/26 (b) | 250000 | 241537 |
|  |  | 460924 |
| Consumer Finance - 0.8% |  |  |
| Ford Motor Credit Co. LLC 3.375% 11/13/25  | 250000 | 230658 |
| Diversified Financial Services - 0.3% |  |  |
| Blackstone Private Credit Fund 4.7% 3/24/25  | 61000 | 59617 |
| Corebridge Financial, Inc.: |  |  |
|  3.85% 4/5/29 (b) | 7000  | 6372  |
|  3.9% 4/5/32 (b) | 9000  | 7936  |
|  4.35% 4/5/42 (b) | 2000  | 1637  |
|  4.4% 4/5/52 (b) | 6000  | 4823  |
|  |  | 80385 |
| TOTAL FINANCIALS |  | 771967 |
| HEALTH CARE - 0.7%  |  |  |
| Health Care Providers & Services - 0.7% |  |  |
| Centene Corp. 4.625% 12/15/29  | 120000 | 111580 |
| Prime Healthcare Foundation, Inc. 7% 12/1/27  | 110000 | 107517 |
|  |  | 219097 |
| INFORMATION TECHNOLOGY - 0.4%  |  |  |
| Software - 0.4% |  |  |
| Oracle Corp. 3.85% 4/1/60  | 160000 | 107903 |
| REAL ESTATE - 0.0%  |  |  |
| Equity Real Estate Investment Trusts (REITs) - 0.0% |  |  |
| American Homes 4 Rent LP: |  |  |
|  3.625% 4/15/32  | 8000  | 6778  |
|  4.3% 4/15/52  | 6000  | 4451  |
|  |  | 11229 |
| UTILITIES - 0.1%  |  |  |
| Multi-Utilities - 0.1% |  |  |
| Puget Energy, Inc. 4.224% 3/15/32  | 15000 | 13383 |
| <br> **TOTAL NONCONVERTIBLE BONDS**<br> (Cost $3,691,187) |  | <br> **3256440** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 19.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 19.2%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 19.2%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| U.S. Treasury Bonds 2.875% 5/15/52  | 3940000 | 3275125 |
| U.S. Treasury Notes 4.125% 11/15/32  | 2350000 | 2441797 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $5,963,946) |  | **5716922** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Asset-Backed Securities - 13.1%** | &nbsp;&nbsp;**Asset-Backed Securities - 13.1%** | &nbsp;&nbsp;**Asset-Backed Securities - 13.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Allegro CLO XV, Ltd. / Allegro CLO VX LLC Series 2022-1A Class B, CME TERM SOFR 3 MONTH INDEX + 2.050% 3.7307% 7/20/35 (b)(c)(d) | 250000 | 241297 |
| Cedar Funding Ltd. Series 2022-15A Class B, CME TERM SOFR 3 MONTH INDEX + 1.800% 5.7633% 4/20/35 (b)(c)(d) | 750000 | 707654 |
| Columbia Cent Clo 32 Ltd. / Coliseum Series 2022-32A Class B1, CME TERM SOFR 3 MONTH INDEX + 2.400% 4.897% 7/24/34 (b)(c)(d) | 100000 | 94903 |
| DB Master Finance LLC Series 2021-1A Class A23, 2.791% 11/20/51 (b) | 247500 | 190896 |
| Dominos Pizza Master Issuer LLC Series 2021-1A Class A2II, 3.151% 4/25/51 (b) | 935750 | 755569 |
| Horizon Aircraft Finance Ltd. Series 2019-1 Class A, 3.721% 7/15/39 (b) | 201682 | 157311 |
| Magnetite XXIX, Ltd. / Magnetite XXIX LLC Series 2021-29A Class B, 3 month U.S. LIBOR + 1.400% 5.4791% 1/15/34 (b)(c)(d) | 650000 | 624951 |
| Planet Fitness Master Issuer LLC Series 2022-1A Class A2II, 4.008% 12/5/51 (b) | 497500 | 389306 |
| SYMP Series 2022-32A Class B, CME TERM SOFR 3 MONTH INDEX + 1.850% 5.8875% 4/23/35 (b)(c)(d) | 760000 | 726962 |
| <br> **TOTAL ASSET-BACKED SECURITIES**<br> (Cost $4,212,403) |  | **3888849** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Commercial Mortgage Securities - 1.1%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 1.1%** | &nbsp;&nbsp;**Commercial Mortgage Securities - 1.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| BPR Trust floater Series 2022-OANA Class B, CME Term SOFR 1 Month Index + 2.440% 6.2413% 4/15/37 (b)(c)(d) | 11000 | 10304 |
| BX Trust floater Series 2022-IND: |  |  |
|  Class C, CME Term SOFR 1 Month Index + 2.290% 6.1009% 4/15/37 (b)(c)(d) | 9495 | 8974 |
|  Class D, CME Term SOFR 1 Month Index + 2.830% 6.6499% 4/15/37 (b)(c)(d) | 9495 | 8906 |
| Life Financial Services Trust floater Series 2022-BMR2: |  |  |
|  Class B, CME Term SOFR 1 Month Index + 1.790% 5.5882% 5/15/39 (b)(c)(d) | 100000 | 96241 |
|  Class C, CME Term SOFR 1 Month Index + 2.090% 5.8874% 5/15/39 (b)(c)(d) | 100000 | 95990 |
|  Class D, CME Term SOFR 1 Month Index + 2.540% 6.3362% 5/15/39 (b)(c)(d) | 100000 | 95238 |
| <br> **TOTAL COMMERCIAL MORTGAGE SECURITIES**<br> (Cost $328,442) |  | **315653** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Municipal Securities - 0.5%** | &nbsp;&nbsp;**Municipal Securities - 0.5%** | &nbsp;&nbsp;**Municipal Securities - 0.5%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Chicago Board of Ed.: |  |  |
|  Series 2009 G, 1.75% 12/15/25  | 120000 | 103602 |
|  Series 2010 C, 6.319% 11/1/29  | 60000 | 57091 |
| <br> **TOTAL MUNICIPAL SECURITIES**<br> (Cost $170,140) |  | **160693** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 4.6%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 4.6%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 4.6%** | &nbsp;&nbsp;**Foreign Government and Government Agency Obligations - 4.6%** |
|  |  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Brazilian Federative Republic: |  |  |  |
|  5.625% 2/21/47  |  | 140000 | 116550 |
|  10% 1/1/27  | BRL | 800000 | 141564 |
| Dominican Republic: |  |  |  |
|  5.5% 2/22/29 (b) |  | 250000 | 229891 |
|  6% 2/22/33 (b) |  | 250000 | 225000 |
| United Mexican States: |  |  |  |
|  7.75% 5/29/31  | MXN | 6900000 | 326444 |
|  7.75% 11/13/42  | MXN | 7300000 | 326575 |
| <br> **TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS**<br> (Cost $1,450,579) |  |  | **1366024** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fixed-Income Funds - 44.8%** | &nbsp;&nbsp;**Fixed-Income Funds - 44.8%** | &nbsp;&nbsp;**Fixed-Income Funds - 44.8%** |
|  | Shares | Value ($)<br>|
| Fidelity Floating Rate Central Fund (e) | 67721 | 6468744 |
| Fidelity High Income Central Fund (e) | 9896 | 1016913 |
| Fidelity International Credit Central Fund (e) | 72138 | 5874175 |
| <br> **TOTAL FIXED-INCOME FUNDS**<br> (Cost $14,727,796) |  | **13359832** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Preferred Securities - 1.5%** | &nbsp;&nbsp;**Preferred Securities - 1.5%** | &nbsp;&nbsp;**Preferred Securities - 1.5%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| ENERGY - 0.7%  |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| Enbridge, Inc. 5.75% 7/15/80 (c) | 250000 | 222305 |
| FINANCIALS - 0.8%  |  |  |
| Banks - 0.8% |  |  |
| Bank of Nova Scotia 4.9% (c)(f) | 240000 | 228600 |
| <br> **TOTAL PREFERRED SECURITIES**<br> (Cost $512,652) |  | <br> **450905** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 4.9%** | &nbsp;&nbsp;**Money Market Funds - 4.9%** | &nbsp;&nbsp;**Money Market Funds - 4.9%** |
|  | Shares | Value ($)<br>|
| Fidelity Cash Central Fund 3.86% (g) <br>(Cost $1,455,457) <br>| 1455166 | **1455457** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.6%**<br> (Cost $32,512,602)<br>| <br>**29970775** |
| **NET OTHER ASSETS (LIABILITIES) - (0.6)%**  | **(171893)** |
| **NET ASSETS - 100.0%** | **29798882** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| Currency<br> Purchased | Currency<br> Purchased | Currency<br> Sold | Currency<br> Sold | Counterparty | Settlement<br> Date | Unrealized <br> Appreciation/<br> (Depreciation) ($)  |
| USD | 370523 | MXN | 7282000 | JPMorgan Chase Bank, N.A. | 12/29/22 | (5053) |
| **TOTAL FORWARD FOREIGN CURRENCY CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY CONTRACTS** |  | **(5053)** |
| Unrealized Depreciation | Unrealized Depreciation | Unrealized Depreciation |  |  |  | (5053) |

---

**Currency Abbreviations**

BRL - Brazilian real <br> MXN - Mexican peso <br> USD - U.S. dollar

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $5,636,364 or 18.9% of net assets.

(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(e) 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, 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.

(f) Security is perpetual in nature with no stated maturity date.

(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.

**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 ($) | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund 3.86% | 2250044 | 1945918 | 2740505 | 20233 | - | - | 1455457 | 0.0% |
| Fidelity Floating Rate Central Fund | 6441145 | 117261 | - | 117260 | - | (89662) | 6468744 | 0.3% |
| Fidelity High Income Central Fund | 1001612 | 16780 | - | 16779 | - | (1479) | 1016913 | 0.1% |
| Fidelity International Credit Central Fund | 6065161 | 50763 | - | 50763 | - | (241749) | 5874175 | 1.6% |
| Total | 15757962 | 2130722 | 2740505 | 205035 | - | (332890) | 14815289 |  |

---

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has 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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

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.Nonconvertible Bonds, U.S. Treasury Obligations, Municipal Securities, Foreign Government and Government Agency Obligations and Preferred Securities 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.Asset-Backed Securities and Commercial Mortgage Securities are valued by pricing services who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, 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. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

The U.S. dollar value of forward foreign currency contracts is determined using currency exchange rates supplied by a pricing service and are categorized as Level 2 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

**Derivative Instruments**

Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative 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.

The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or 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 Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk(s):

Foreign Exchange Risk - Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in currency exchange rates.

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the 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 the Fund.

Derivative counterparty credit risk is managed through formal evaluation of the creditworthiness of all potential counterparties. On certain OTC derivatives, the Fund attempts to reduce its exposure to counterparty credit risk by entering into an International Swaps and Derivatives Association, Inc. (ISDA) Master Agreement with each of its counterparties. The ISDA Master Agreement gives the Fund the right to terminate all transactions traded under such agreement upon the deterioration in the credit quality of the counterparty beyond specified levels. The ISDA Master Agreement gives each party the right, upon an event of default by the other party or a termination of the agreement, to close out all transactions traded under such agreement and to net the amounts owed under each transaction to one net payable by one party to the other. To mitigate counterparty credit risk on bi-lateral OTC derivatives, the Fund receives collateral in the form of cash or securities once the Fund's net unrealized appreciation on outstanding derivative contracts under an ISDA Master Agreement exceeds certain applicable thresholds, subject to certain minimum transfer provisions. The collateral received is held in segregated accounts with the Fund's custodian bank in accordance with the collateral agreements entered into between the Fund, the counterparty and the Fund's custodian bank. The Fund could experience delays and costs in gaining access to the collateral even though it is held by the Fund's custodian bank. The Fund's maximum risk of loss from counterparty credit risk related to bi-lateral OTC derivatives is generally the aggregate unrealized appreciation and unpaid counterparty payments in excess of any collateral pledged by the counterparty to the Fund. The Fund may be required to pledge collateral for the benefit of the counterparties on bi-lateral OTC derivatives in an amount not less than each counterparty's unrealized appreciation on outstanding derivative contracts, subject to certain minimum transfer provisions, and any such pledged collateral is identified in the Schedule of Investments. Exchange-traded contracts are not covered by the ISDA Master Agreement; however counterparty credit risk related to these contracts may be mitigated by the protection provided by the exchange on which they trade. Counterparty credit risk related to centrally cleared OTC swaps may be mitigated by the protection provided by the clearinghouse.

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. 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.

Forward Foreign Currency Contracts: Forward foreign currency contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into.

The Fund used forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to manage exposure to certain foreign currencies.

Open forward foreign currency contracts at period end are presented in the Schedule of Investments under the caption "Forward Foreign Currency Contracts." The contract amount and unrealized appreciation (depreciation) reflects each contract's exposure to the underlying currency at period end.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Fidelity Salem Street Trust

- **b. Investment Company Act file number:** 811-02105

- **c. CIK number of Registrant:** 0000035315

- **d. LEI of Registrant:** S4W85DGKOEJ24DPRB829

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

**Item A.2. Information about the Series.**

- **a. Name of Series:** Fidelity Tactical Bond Fund

- **b. EDGAR series identifier (if any):** S000075287

- **c. LEI of Series:** 5493006FOBKMPLHSZB51

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $29841641.52

**Total Liabilities:** $156298.91

**Net Assets:** $29685342.61

**Cash Not Reported:** $336933.84

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 96.62958213 | **1-Year:** 491.36510508 | **5-Year:** 1602.92113649 | **10-Year:** 2778.68242390 | **30-Year:** 5359.39803409

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 83.50201109 | **1-Year:** 378.46576293 | **5-Year:** 1147.01007570 | **10-Year:** 2387.89380750 | **30-Year:** 79.91163700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234190 | -4.22%               | -0.48%               | 3.28%                |
| Class ID C000234192 | -5.16%               | -1.56%               | 2.19%                |
| Class ID C000234189 | -4.23%               | -0.49%               | 3.27%                |
| Class ID C000234194 | -4.23%               | -0.49%               | 3.27%                |
| Class ID C000234193 | -8.08%               | -4.49%               | -0.88%               |
| Class ID C000234191 | -8.08%               | -4.49%               | -0.88%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $115.99                  | $-1268916.80                               |
| Month 2  | $319.77                  | $-270234.52                                |
| Month 3  | $360.33                  | $800876.08                                 |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Index

- **Index Identifier:** 19808143

### Schedule of Portfolio Investments

| Name                                                                               | Title                                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PRIME HEALTHCARE FOUNDATION INC                                                    | PRIME HEALTHCARE FOUNDATION INC 7% 12/01/2027                                                   | CUSIP: 74166AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $107517.00    | 0.36%             | 2027-12-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 3.85% 04/05/2029 144A                                                  | CUSIP: 21871XAE9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6372.22      | 0.02%             | 2029-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HORIZON AIRCRAFT FINANCE LTD                                                       | HORIZON AIRCRAFT FINANCE LTD 2019-1 A 3.721% 07/15/2039 144A                                    | CUSIP: 44040HAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    201682 | PA      | $157311.11    | 0.53%             | 2039-07-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BPR TRUST 2022                                                                     | BPR TRUST 2022 TSFR1M+229.667 04/15/2024 144A                                                   | CUSIP: 05592DAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11000 | PA      | $10303.88     | 0.03%             | 2037-04-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-IND                                                                  | BX TRUST 2022-IND TSFR1M+274.6 04/15/2024 144A                                                  | CUSIP: 05609WAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9495 | PA      | $8905.81      | 0.03%             | 2037-04-15      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| MEXICO UNITED MEXICAN STATES                                                       | MEXICO UNITED MEXICAN STATES 7.75% 05/29/2031                                                   | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |   6900000 | PA      | $326443.78    | 1.10%             | 2031-05-29      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 4.35% 04/05/2042 144A                                                  | CUSIP: 21871XAJ8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1637.46      | 0.01%             | 2042-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL    | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 5.5% 04/01/2063 | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $104160.74    | 0.35%             | 2063-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT LP                                                           | AMERICAN HOMES 4 RENT LP 3.625% 04/15/2032                                                      | CUSIP: 02666TAE7<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |      8000 | PA      | $6778.37      | 0.02%             | 2032-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TOLL BROTHERS FINANCE CORP                                                         | TOLL BROS FIN CORP 4.875% 03/15/2027                                                            | CUSIP: 88947EAS9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $337298.44    | 1.14%             | 2027-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR SA                                                          | MILLICOM INTL CELLULAR SA 4.5% 04/27/2031 144A                                                  | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    310000 | PA      | $253541.25    | 0.85%             | 2031-04-27      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                 | DOMINICAN REPUBLIC 6% 02/22/2033 144A                                                           | CUSIP: 25714PEN4<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    250000 | PA      | $225000.00    | 0.76%             | 2033-02-22      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios II LLC                                      | Fidelity International Credit Central Fund                                                      | CUSIP: 31607D202<br>LEI: 0VPAEPVECBYQ0ULYZJ60 | Long             | EC               | RF                | US        |     72138 | NS      | $5874175.35   | 19.79%            |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                                                        | ORACLE CORP 3.85% 04/01/2060                                                                    | CUSIP: 68389XBY0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    160000 | PA      | $107902.90    | 0.36%             | 2060-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios LLC                                         | Fidelity Floating Rate Central Fund                                                             | CUSIP: 31606V708<br>LEI: S2V1M15I679NQK6BNY65 | Long             | EC               | RF                | US        |     67278 | NS      | $6426365.71   | 21.65%            |  |  |  | No            |                  1 | On Loan: No      |
| UST NOTES                                                                          | UST NOTES 4.125% 11/15/2032                                                                     | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1818359.38   | 6.13%             | 2032-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| Fidelity Central Investment Portfolios LLC                                         | Fidelity High Income Central Fund                                                               | CUSIP: 31606V690<br>LEI: S2V1M15I679NQK6BNY65 | Long             | EC               | RF                | US        |      9838 | NS      | $1010991.72   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM RADIO INC                                                                | SIRIUS XM RADIO INC 4.125% 07/01/2030 144A                                                      | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    140000 | PA      | $118134.80    | 0.40%             | 2030-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CREDIT FUND                                                     | BLACKSTONE PRIVATE CREDIT FUND 4.7% 03/24/2025                                                  | CUSIP: 09261HAT4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     61000 | PA      | $59616.94     | 0.20%             | 2025-03-24      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MEXICO UNITED MEXICAN STATES                                                       | MEXICO UNITED MEXICAN STATES 7.75% 11/13/2042                                                   | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |   7300000 | PA      | $326575.11    | 1.10%             | 2042-11-13      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                                | PETROLEOS MEXICANOS 7.69% 01/23/2050                                                            | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $170175.00    | 0.57%             | 2050-01-23      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK NA NEW YORK NY                                                 | FX Forward: USD/MXN settle 2022-12-29                                                           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5052.73     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BRAZIL, FEDERATIVE REPUBLIC OF                                                     | BRAZIL FEDERATIVE REPUBLIC OF 5.625% 02/21/2047                                                 | CUSIP: 105756BY5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    140000 | PA      | $116550.00    | 0.39%             | 2047-02-21      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                                            | BANK NOVA SCOTIA BC 4.9/VAR PERP                                                                | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EP               | CORP              | CA        |    240000 | PA      | $228600.00    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY BOND                                                        | UNITED STATES TREASURY BOND 2.875% 05/15/2052                                                   | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3940000 | PA      | $3275125.00   | 11.03%            | 2052-05-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD ED                                                                  | CHICAGO IL BOE 1.75% 12/15/25                                                                   | CUSIP: 167505KK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $103602.47    | 0.35%             | 2025-12-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| PLANET FITNESS MASTER ISSUER LLC 18-1A                                             | PLANET FITNESS MASTER ISSUER LLC 18-1A 4.008% 12/05/2051 144A                                   | CUSIP: 72703PAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    497500 | PA      | $389306.19    | 1.31%             | 2051-12-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC DEL                                                              | KINDER MORGAN INC DEL 3.6% 02/15/2051                                                           | CUSIP: 49456BAT8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    600000 | PA      | $427524.26    | 1.44%             | 2051-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DB MASTER FIN LLC                                                                  | DB MASTER FIN LLC 21-1A A23 2.791% 11/20/2051 144A                                              | CUSIP: 233046AS0<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-CBDO         | CORP              | US        |    247500 | PA      | $190896.26    | 0.64%             | 2051-11-20      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT LP                                                           | AMERICAN HOMES 4 RENT LP 4.3% 04/15/2052                                                        | CUSIP: 02666TAF4<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4451.12      | 0.01%             | 2052-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MAGALLANES INC                                                                     | MAGALLANES INC 5.05% 03/15/2042 144A                                                            | CUSIP: 55903VAN3<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8005.48      | 0.03%             | 2042-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                           | NOTA DO TESOURO NACIONAL 10% 01/01/2027                                                         | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        |    800000 | PA      | $141563.93    | 0.48%             | 2027-01-01      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| DOMINOS PIZZA MASTER ISSUER LL DOMINOS SPV CDN HLDG CO INC DOMINOS PIZZA DISTR LLC | DOMINOS PIZZA MASTER ISR LLC 3.151% 04/25/2051 144A                                             | CUSIP: 25755TAP5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    935750 | PA      | $755568.53    | 2.55%             | 2051-04-25      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| TARGA RES CORP                                                                     | TARGA RES CORP 4.2% 02/01/2033                                                                  | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $113682.38    | 0.38%             | 2033-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                                                       | Fidelity Cash Central Fund                                                                      | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   1455166 | NS      | $1455457.34   | 4.90%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+254.191 05/15/2039 144A                               | CUSIP: 53218DAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $95238.26     | 0.32%             | 2039-05-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                                        | BANK OF AMERICA CORPORATION 2.299%/VAR 07/21/2032                                               | CUSIP: 06051GKA6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    280000 | PA      | $219386.90    | 0.74%             | 2032-07-21      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 4.4% 04/05/2052 144A                                                   | CUSIP: 21871XAL3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4822.62      | 0.02%             | 2052-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MAGALLANES INC                                                                     | MAGALLANES INC 5.141% 03/15/2052 144A                                                           | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     16000 | PA      | $12397.78     | 0.04%             | 2052-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                           | FORD MTR CR CO LLC 3.375% 11/13/2025                                                            | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    250000 | PA      | $230657.50    | 0.78%             | 2025-11-13      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MAGNETITE XXIX LTD / MAGNETITE XXIX LLC                                            | MAGNETITE XXIX LTD / MAGNETITE XXIX LLC 3ML+140 01/15/2034 144A                                 | CUSIP: 55955KAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $624950.95    | 2.11%             | 2034-01-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING LP                                                         | DCP MIDSTREAM LLC 5.85%/VAR 05/21/2043 144A                                                     | CUSIP: 23311RAH9<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    260000 | PA      | $254358.58    | 0.86%             | 2043-05-21      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+179.391 05/15/2039 144A                               | CUSIP: 53218DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96240.50     | 0.32%             | 2039-05-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                 | DOMINICAN REPUBLIC 5.5% 02/22/2029 144A                                                         | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    250000 | PA      | $229890.63    | 0.77%             | 2029-02-22      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COLUMBIA CENT CLO 32 LTD / COLUMBIA CENT CLO 32 CORP                               | COLUMBIA CENT CLO 32 LTD / COLUMBIA CENT CLO 32 CORP TSFR3M+240 07/24/2034 144A                 | CUSIP: 19737TAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    100000 | PA      | $94902.80     | 0.32%             | 2034-07-24      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                           | COREBRIDGE FINANCIAL INC 3.9% 04/05/2032 144A                                                   | CUSIP: 21871XAG4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      9000 | PA      | $7936.26      | 0.03%             | 2032-04-05      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                                   | PUGET ENERGY INC 4.224% 03/15/2032                                                              | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13383.14     | 0.05%             | 2032-03-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR SA                                                          | MILLICOM INTL CELLULAR SA 6.25% 03/25/2029 144A                                                 | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     72000 | PA      | $68227.92     | 0.23%             | 2029-03-25      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-IND                                                                  | BX TRUST 2022-IND TSFR1M+219.7 04/15/2024 144A                                                  | CUSIP: 05609WAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9495 | PA      | $8974.20      | 0.03%             | 2037-04-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP DEL                                                                   | CENTENE CORP 4.625% 12/15/2029                                                                  | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111580.20    | 0.38%             | 2029-12-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALLEGRO CLO XV LTD / ALLEGRO CLO VX LLC                                            | ALLEGRO CLO XV LTD / ALLEGRO CLO VX LLC TSFR3M+205 07/20/2035 144A                              | CUSIP: 01749WAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | XX        |    250000 | PA      | $241297.25    | 0.81%             | 2035-07-20      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL    | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 3.7% 04/01/2051 | CUSIP: 161175BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $159686.78    | 0.54%             | 2051-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                                                | INTESA SANPAOLO SPA 5.71% 01/15/2026 144A                                                       | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $241536.83    | 0.81%             | 2026-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD ED                                                                  | CHICAGO ILL BRD ED QUALIFIED SCH CONST BD                                                       | CUSIP: 167505NG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $57091.20     | 0.19%             | 2029-11-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| SYMP 2022-32A A1                                                                   | SYMP 2022-32A A1 TSFR3M+185 04/23/2035 144A                                                     | CUSIP: 87168NAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    760000 | PA      | $726962.04    | 2.45%             | 2035-04-23      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| TARGA RES CORP                                                                     | TARGA RES CORP 4.95% 04/15/2052                                                                 | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $105667.70    | 0.36%             | 2052-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                       | ENBRIDGE INC 5.75%/VAR 07/15/2080                                                               | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EP               | CORP              | CA        |    250000 | PA      | $222305.10    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| CEDAR FUNDING LTD 2022                                                             | CEDF 2022-15A B TSFR3M+180 04/20/2035 144A                                                      | CUSIP: 15032QAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $707654.25    | 2.38%             | 2035-04-20      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST 2022                                                 | LIFE FINANCIAL SERVICES TRUST 2022-BMR2 C TSFR1M+209.31 05/15/2039 144A                         | CUSIP: 53218DAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $95989.95     | 0.32%             | 2039-05-15      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Laura M. Del Prato

**Signature:** Laura M. Del Prato

**Name of Signer:** Laura M. Del Prato

**Title:** President and Treasurer