FundWatcher
FTBD
Fidelity Tactical Bond ETF
Fidelity Merrimack Street Trust
ETF

Portfolio concentration

As of February 28, 2026 · N-PORT
Holdings
788
Top-10 weight
53.98%
Effective holdings ?
19
Crowding ?
220.3

Holdings

As of February 28, 2026 · N-PORT
#SecurityTickerSharesValue% of fund
1 US TREASURY N/B — 6,118,000 $6.35M 16.86%
2 Fidelity Cash Central Fund — 3,869,782 $3.87M 10.28%
3 US TREASURY N/B — 2,562,000 $2.61M 6.92%
4 US TREASURY N/B — 2,160,000 $2.18M 5.79%
5 US TREASURY N/B — 1,790,000 $1.83M 4.87%
6 US TREASURY N/B — 1,574,000 $1.32M 3.51%
7 US TREASURY N/B — 808,000 $725.94K 1.93%
8 US TREASURY N/B — 690,400 $646.87K 1.72%
9 Petroleos Mexicanos — 570,000 $517.67K 1.37%
10 Fidelity Securities Lending Cash Central Fund — 481,711 $481.76K 1.28%
11 US TREASURY N/B — 400,000 $418.45K 1.11%
12 DPL LLC/Ohio AES 360,000 $354.58K 0.94%
13 US TREASURY N/B — 370,000 $339.43K 0.90%
14 Bank of Nova Scotia/The — 325,000 $324.73K 0.86%
15 ENBRIDGE INC SUBORDINATED 07/80 VAR ENBCN 250,000 $254.44K 0.68%
16 DOMREP 4 7/8 09/23/32 — 260,000 $249.60K 0.66%
17 NAVTR 2025-1 A NAVTR 244,983 $247.66K 0.66%
18 GGAMMT 2025-1A A 144A 5.923% 09-30-60 GGAMMT 227,707 $232.81K 0.62%
19 Teva Pharmaceutical Finance Netherlands IV B.V. — 200,000 $207.53K 0.55%
20 TIGO 4.5 04/27/31 144A TIGO 222,000 $206.58K 0.55%
21 TOLHOS 5.325 11/15/28 B TOLHOS 200,000 $203.77K 0.54%
22 Republic of Colombia COLOM 200,000 $199.50K 0.53%
23 CHARTER COMM OPT — 238,000 $198.37K 0.53%
24 Presidencia da Republica BRAZIL 174,000 $176.78K 0.47%
25 BOEING CO/THE — 154,000 $176.61K 0.47%
26 Presidencia da Republica NTNFF31 1,000,000 $174.61K 0.46%
27 RWE FINANCE US LLC REGD 144A P/P 5.87500000 RWE 150,000 $159.24K 0.42%
28 US TREASURY N/B — 155,000 $157.04K 0.42%
29 TARGA RESOURCES — 160,000 $155.38K 0.41%
30 CHARTER COMM OPT — 202,000 $153.90K 0.41%
31 PRIME HEALTHCARE FOUNDATION INC 7% 12/01/2027 — 142,000 $146.85K 0.39%
32 HEATHROW FUNDING LTD 6% 03/05/2032 REGS — 100,000 $140.30K 0.37%
33 Presidencia da Republica NTNFF33 800,000 $133.97K 0.36%
34 HSBC HOLDINGS PLC 3%/VAR 07/22/2028 — 100,000 $132.71K 0.35%
35 SEVERN TRENT WATER UTIL FIN 4.625% 11/30/2034 REGS — 100,000 $130.13K 0.35%
36 MOBICO GROUP PLC STEP 11/20/2028 REGS — 100,000 $125.50K 0.33%
37 CBRE OPEN-ENDED FUNDS SCA SICAV-SIF 4.75% 03/27/2034 REGS — 100,000 $125.28K 0.33%
38 Subway Funding LLC, Series 2024-3A, Class A2I — 123,438 $123.15K 0.33%
39 BAT INTL FINANCE PLC 4.125% 04/12/2032 REGS — 100,000 $122.47K 0.33%
40 AMPRION GMBH 3.625% 05/21/2031 REGS — 100,000 $121.43K 0.32%
41 BARCLAYS PLC EUAMDB01+NA 08/14/2031 REGS — 100,000 $119.75K 0.32%
42 P3 GROUP SARL 3.75% 04/02/2033 REGS — 100,000 $118.44K 0.31%
43 AIB GROUP PLC EUR REG S SUB (B) 2.875% 05-30-31/26 — 100,000 $118.22K 0.31%
44 VOLKSWAGEN INTL FINANCE NV 3.875%/VAR PERP REGS — 100,000 $117.53K 0.31%
45 ARGENTUM NETHERLANDS BV FOR ZURICH INSURANCE CO LTD 2.75%/VAR 02/19/2049 REGS — 100,000 $117.42K 0.31%
46 DNKN 2017-1A A2II 4.03% 11/20/2047 144A DUNKN 115,000 $114.58K 0.30%
47 ENERGIE BADEN-W — 100,000 $113.08K 0.30%
48 BNP Paribas SA — 100,000 $110.28K 0.29%
49 LOGICOR FINANCING SARL 0.875% 01/14/2031 REGS — 100,000 $105.20K 0.28%
50 CELANESE US HOLDINGS LLC SR UNSEC 6.75% 04-15-33 CE 102,000 $104.58K 0.28%
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