FundWatcher
FSEC
Fidelity Investment Grade Securitized ETF
Fidelity Merrimack Street Trust
ETF

Portfolio concentration

As of February 28, 2026 · N-PORT
Holdings
954
Top-10 weight
31.36%
Effective holdings ?
70
Crowding ?
55.8

Holdings

As of February 28, 2026 · N-PORT
#SecurityTickerSharesValue% of fund
1 Government National Mortgage Association, TBA GNR 474,125,000 $483.74M 10.86%
2 GNII II 5.5% 03/01/2056 #TBA — 394,225,000 $399.30M 8.96%
3 G2SF 5.5 4/25 — 245,525,000 $248.43M 5.58%
4 FNCL 6 3/24 — 213,300,000 $218.79M 4.91%
5 GNMA TBA G2SF 256,600,000 $217.35M 4.88%
6 Fannie Mae or Freddie Mac — 200,625,000 $203.67M 4.57%
7 G2SF 6 4/25 — 181,200,000 $184.75M 4.15%
8 Government National Mortgage Association, TBA G2SF 166,050,000 $146.50M 3.29%
9 FNCI 5 4/21 — 127,375,000 $129.24M 2.90%
10 G2SF 2 4/26 — 135,325,000 $114.64M 2.57%
11 FNCL 5.5 3/25 — 112,100,000 $113.90M 2.56%
12 G2SF 5 4/26 — 92,650,000 $92.85M 2.08%
13 G2SF 5 3/25 — 92,650,000 $92.82M 2.08%
14 FR SD7548 — 82,240,354 $72.58M 1.63%
15 US TREASURY N/B — 62,310,000 $62.50M 1.40%
16 G2SF 2.5 4/24 — 70,525,000 $62.21M 1.40%
17 FEDERAL NAT MTG ASN GTD REM PA 21-13 BE 1.25% 02/25/2050 — 75,673,685 $60.80M 1.36%
18 FNMA 30YR 5.5% 04/01/2055#CC0241 — 56,744,503 $58.59M 1.32%
19 Fidelity Cash Central Fund — 56,422,753 $56.43M 1.27%
20 FHLG 30YR 2.5% 04/01/2052#SL1958 — 62,717,308 $55.35M 1.24%
21 Uniform Mortgage-Backed Security, TBA — 61,125,000 $50.62M 1.14%
22 G2 MA7988 — 53,128,796 $48.75M 1.09%
23 FNMA 30YR 2.5% 09/01/2050#CA6947 — 53,607,428 $47.46M 1.07%
24 FNMA 30YR 2.5% 08/01/2050#CA6709 FNMA 49,779,643 $44.07M 0.99%
25 FNMA 30YR 2.5% 09/01/2051#CB1547 — 49,077,037 $43.28M 0.97%
26 FHLG 15YR 1.5% 05/01/2036#RC1950 — 44,671,900 $40.92M 0.92%
27 FR SD8106 — 47,791,568 $40.01M 0.90%
28 US TREASURY N/B — 34,870,000 $35.20M 0.79%
29 FNMA 30YR 2.5% 12/01/2051#FM9695 — 39,308,774 $34.67M 0.78%
30 G2 MA8043 — 37,568,762 $34.47M 0.77%
31 G2 MB0024 — 32,998,551 $32.67M 0.73%
32 Ginnie Mae — 33,100,000 $32.66M 0.73%
33 G2SF 4.5 4/26 — 33,100,000 $32.61M 0.73%
34 GNII II 6.5% 03/01/2056 #TBA — 29,800,000 $30.84M 0.69%
35 US TREASURY N/B — 28,948,000 $29.04M 0.65%
36 FHLG 30YR 5% 08/01/2052#SD1482 — 28,002,426 $28.50M 0.64%
37 FNCL 5 3/24 — 28,000,000 $28.13M 0.63%
38 ONEMAIN FINL ISSUANCE TR 2019-2 3.14% 10/14/2036 144A OMFIT 27,800,000 $27.51M 0.62%
39 Freddie Mac Multifamily Structured Pass Through Certificates — 27,295,591 $27.28M 0.61%
40 FNMA 30YR 6% 11/01/2054#FA2958 — 25,515,042 $26.64M 0.60%
41 TOYOTA LEASE OWNER TRUST 2026-A 4.09% 02/22/2028 144A — 26,025,000 $26.01M 0.58%
42 Uniform Mortgage-Backed Security, TBA — 25,900,000 $25.61M 0.57%
43 FNCL 4.5 4/26 — 25,900,000 $25.52M 0.57%
44 FR RB5099 — 29,324,567 $25.36M 0.57%
45 Freddie Mac Pool — 23,546,248 $24.86M 0.56%
46 FNMA POOL MA4202 FN 12/40 FIXED 1.5 FHLMC 28,563,128 $24.74M 0.56%
47 FNMA 15YR 1.5% 04/01/2036#FM6100 — 24,272,446 $22.17M 0.50%
48 UMBS FHLMC 20,729,975 $21.94M 0.49%
49 UMBS — 23,585,719 $21.77M 0.49%
50 US TREASURY N/B — 20,990,000 $21.51M 0.48%
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