0001752724-23-145762.txt : 20230627 0001752724-23-145762.hdr.sgml : 20230627 20230627123358 ACCESSION NUMBER: 0001752724-23-145762 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230430 FILED AS OF DATE: 20230627 DATE AS OF CHANGE: 20230627 PERIOD START: 20230731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY ADVISOR SERIES VII CENTRAL INDEX KEY: 0000315700 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-03010 FILM NUMBER: 231045304 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 SECURITIES TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PLYMOUTH SECURITIES TRUST DATE OF NAME CHANGE: 19911118 FORMER COMPANY: FORMER CONFORMED NAME: READY CASH FUND DATE OF NAME CHANGE: 19880207 0000315700 S000054816 Fidelity Advisor Global Real Estate Fund C000172330 Class A FWRAX C000172331 Class M FWRTX C000172332 Class C FWRCX C000172333 Class I FWRIX C000205009 Class Z FIKKX NPORT-P 1 primary_doc.xml NPORT-P false 0000315700 XXXXXXXX S000054816 C000205009 C000172331 C000172332 C000172330 C000172333 Fidelity Advisor Series VII 811-03010 0000315700 PM3JTBFBEM0RCCY2GO89 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Advisor Global Real Estate Fund S000054816 5493008VAE8FIVA8Q821 2023-07-31 2023-04-30 N 5243437.45 51931.91 5191505.54 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3347.02000000 0.00000000 0.00000000 12630.83000000 N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 DIGITAL REALTY TRUST INC 253868103 1832.00000000 NS USD 181642.80000000 3.498846309619 Long EC CORP US N 1 N N N SCENTRE GROUP N/A SCENTRE GROUP STAPLED UNIT N/A 28690.00000000 NS 55058.85000000 1.060556510549 Long EC CORP AU N 2 N N N KENEDIX RESIDENTIAL NEXT INVESTMENT CORPORATION 353800CYD58GUMFQME07 KENEDIX RESIDENTIAL NEXT INVST CORP N/A 37.00000000 NS 58047.84000000 1.118131138505 Long EC CORP JP N 2 N N N EQUINIX INC 549300EVUN2BTLJ3GT74 EQUINIX INC 29444U700 407.00000000 NS USD 294700.56000000 5.676591457513 Long EC CORP US N 1 N N N UOL GROUP LIMITED 254900O9PRCWTMR86R25 UOL GROUP LIMITED N/A 21492.00000000 NS 112121.07000000 2.159702404940 Long EC CORP SG N 2 N N N EXTRA SPACE STORAGE INC N/A EXTRA SPACE STORAGE INC 30225T102 898.00000000 NS USD 136531.92000000 2.629909935529 Long EC CORP US N 1 N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 LXP INDUSTRIAL TRUST REIT 529043101 876.00000000 NS USD 8234.40000000 0.158612948335 Long EC CORP US N 1 N N N MITSUBISHI ESTATE CO LTD 353800KOFMRGOXSJ5Z65 MITSUBISHI ESTATE CO LTD N/A 9816.00000000 NS 120975.36000000 2.330255820164 Long EC CORP JP N 2 N N N TERRENO RLTY CORP N/A TERRENO REALTY CORP 88146M101 369.00000000 NS USD 22726.71000000 0.437767230043 Long EC CORP US N 1 N N N WELLTOWER INC N/A WELLTOWER INC 95040Q104 2302.00000000 NS USD 182364.44000000 3.512746708924 Long EC CORP US N 1 N N N KIMCO REALTY CORP N/A KIMCO REALTY CORPORATION 49446R109 4688.00000000 NS USD 89962.72000000 1.732883058813 Long EC CORP US N 1 N N N RYMAN HOSPITALITY PPTYS INC 529900GCCWW9SRMPJR11 RYMAN HOSPITALITY PPTYS INC 78377T107 398.00000000 NS USD 35684.68000000 0.687366694016 Long EC CORP US N 1 N N N COVIVIO 969500P8M3W2XX376054 COVIVIO N/A 810.00000000 NS 45965.76000000 0.885403273594 Long EC CORP FR N 1 N N N SUN COMMUNITIES INC 549300H5GEOJYN41ZG57 SUN COMMUNITIES INC - REIT 866674104 804.00000000 NS USD 111699.72000000 2.151586262200 Long EC CORP US N 1 N N N NATIONAL RETAIL PROPERTIES INC 5493008JKH5SOTI0JS97 NATIONAL RETAIL PROPERTIES INC 637417106 2408.00000000 NS USD 104748.00000000 2.017680597524 Long EC CORP US N 1 N N N CDL HOSPITALITY TRUSTS N/A CDL HOSPIT TRUSTS (STAPLED) N/A 20744.00000000 NS 19677.01000000 0.379023191796 Long EC CORP SG N 2 N N N LAR ESPANA REAL ESTATE SOCIMI SA 9598002PHMH00MHN3741 LAR ESPANA REAL ESTATE SOCIMI SA N/A 2107.00000000 NS 11910.34000000 0.229419768663 Long EC CORP ES N 1 N N N CUBESMART N/A CUBESMART 229663109 2888.00000000 NS USD 131375.12000000 2.530578441798 Long EC CORP US N 1 N N N VENTAS INC ORQTRC074CWLT3DKHT41 VENTAS INC REIT 92276F100 3903.00000000 NS USD 187539.15000000 3.612423189285 Long EC CORP US N 1 N N N UNITE GROUP PLC 213800BBUUWVDH9YI827 UNITE GROUP PLC N/A 3186.00000000 NS 38398.41000000 0.739639199152 Long EC CORP GB N 1 N N N UNIBAIL-RODAMCO-WESTFIELD N/A UNIBAIL-RODAMCO-WESTFIELD (STAPLED) N/A 491.00000000 NS 26261.74000000 0.505859808829 Long EC CORP FR N 1 N N N CHARTER HALL RETAIL REIT N/A CHARTER HALL RETAIL REIT N/A 23023.00000000 NS 59264.13000000 1.141559602380 Long EC CORP AU N 2 N N N SHAFTESBURY CAPITAL PLC 549300TTXXZ1SHUI0D54 SHAFTESBURY CAPITAL PLC N/A 24928.00000000 NS 36904.69000000 0.710866813406 Long EC CORP GB N 1 N N N URBAN EDGE PROPERTIES N/A URBAN EDGE PROPERTIES 91704F104 2091.00000000 NS USD 30674.97000000 0.590868482440 Long EC CORP US N 1 N N N CAPITALAND INTEGRATED COMMERCIAL TRUST 54930031292WUTXF0L29 CAPITALAND INTEGRATED COMMERCIAL TRUST N/A 62922.00000000 NS 96078.04000000 1.850677790088 Long EC CORP SG N 2 N N N GRAINGER PLC 2138007CEIRKZMNI2979 GRAINGER PLC N/A 34121.00000000 NS 110891.74000000 2.136022761520 Long EC CORP GB N 1 N N N SEGRO PLC 213800XC35KGM9NFC641 SEGRO PLC N/A 5242.00000000 NS 54995.66000000 1.059339329916 Long EC CORP GB N 1 N N N DALATA HOTEL GROUP PLC 635400L2CWET7ONOBJ04 DALATA HOTEL GROUP PLC N/A 7083.00000000 NS 35550.68000000 0.684785554519 Long EC CORP IE N 1 N N N PHILLIPS EDISON and CO INC 549300UC1QJSQ49IC243 PHILLIPS EDISON and CO INC 71844V201 1480.00000000 NS USD 46679.20000000 0.899145722572 Long EC CORP US N 1 N N N ADVANCE RESIDENCE INVESTMENT CORP N/A ADVANCE RESID INV CRP NEW REIT N/A 14.00000000 NS 36324.46000000 0.699690286760 Long EC CORP JP N 2 N N N APARTMENT INCOME REIT CORP N/A APARTMENT INCOME REIT CORP CL A 03750L109 1749.00000000 NS USD 64678.02000000 1.245843224121 Long EC CORP US N 1 N N N CATENA AB 549300EMLM7AH5LDLY65 CATENA AB N/A 1441.00000000 NS 55166.63000000 1.062632594243 Long EC CORP SE N 1 N N N FLAGSHIP COMMUNITIES REIT 894500P7IQ2SJ1DF2L20 FLAGSHIP COMMUNITIES REIT 33843T108 3995.00000000 NS USD 65917.50000000 1.269718379227 Long EC CORP CA N 1 N N N MITSUI FUDOSAN LOGISTICS PARK INC 353800DN63EIYS760S59 MITSUI FUDOSAN LOGISTICS PARK INC N/A 14.00000000 NS 52606.04000000 1.013309907784 Long EC CORP JP N 2 N N N MERLIN PROPERTIES SOCIMI SA 959800L8KD863DP30X04 MERLIN PROPERTIES SOCIMI SA N/A 5204.00000000 NS 45931.64000000 0.884746046134 Long EC CORP ES N 1 N N N COVIVIO 969500P8M3W2XX376054 COVIVIO RT N/A 810.00000000 NS 3347.02000000 0.064471085973 Long EC CORP FR N 2 N N N CROWN CASTLE INC 54930012H97VSM0I2R19 CROWN CASTLE INC 22822V101 862.00000000 NS USD 106103.58000000 2.043792098120 Long EC CORP US N 1 N N N LINK REIT 529900XUE70U36QX5M62 LINK REAL ESTATE INVESTMENT TR N/A 7573.00000000 NS 49534.17000000 0.954138825786 Long EC CORP HK N 2 N N N INVITATION HOMES INC N/A INVITATION HOMES INC 46187W107 2625.00000000 NS USD 87596.25000000 1.687299557422 Long EC CORP US N 1 N N N RLJ LODGING TR N/A RLJ LODGING TRUST 74965L101 3752.00000000 NS USD 37895.20000000 0.729946249850 Long EC CORP US N 1 N N N ELME COMMUNITIES 549300DI34BGS8LVKW95 ELME COMMUNITIES 939653101 2095.00000000 NS USD 36096.85000000 0.695306009439 Long EC CORP US N 1 N N N MID-AMERICA APT CMNTYS INC 549300FQZKFR5YNSHZ21 MID AMERICA APT CMNTY INC 59522J103 876.00000000 NS USD 134728.80000000 2.595177814256 Long EC CORP US N 1 N N N BOARDWALK REAL ESTATE INVESTMENT TRUST 549300RMNRTTJRCOYW23 BOARDWALK REIT UNIT 096631106 2400.00000000 NS 102742.00000000 1.979040554004 Long EC CORP CA N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Cash Central Fund 31635A105 83295.48200000 NS USD 83312.14000000 1.604778023601 Long STIV RF US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 AMERICAN HOMES 4 RENT 02665T306 2707.00000000 NS USD 90034.82000000 1.734271865960 Long EC CORP US N 1 N N N GAMING AND LEISURE PROPERTIES INC 5493006GWRDBCZYWTM57 GAMING AND LEISURE PROPRTI INC 36467J108 977.00000000 NS USD 50804.00000000 0.978598589726 Long EC CORP US N 1 N N N SPIRIT REALTY CAPITAL INC 549300LTU6LVPZSHMJ25 SPIRIT RLTY CAP INC 84860W300 1982.00000000 NS USD 76227.72000000 1.468316260334 Long EC CORP US N 1 N N N LASALLE LOGIPORT REIT 353800II3DI1RPKBB314 LASALLE LOGIPORT REIT N/A 60.00000000 NS 71280.16000000 1.373015196666 Long EC CORP JP N 2 N N N ARENA REIT N/A ARENA REIT (STAPLED) N/A 23008.00000000 NS 57196.04000000 1.101723566686 Long EC CORP AU N 2 N N N VONOVIA SE 5299005A2ZEP6AP7KM81 VONOVIA SE N/A 4424.00000000 NS 95949.99000000 1.848211260889 Long EC CORP DE N 2 N N N HYSAN DEVELOPMENT LTD 5299007BABFLKIH9HL03 HYSAN DEVELOPMENT CO LTD N/A 9847.00000000 NS 27828.07000000 0.536030825462 Long EC CORP HK N 2 N N N EQUITY LIFESTYLE PROPERTIES INC 529900PEQG66LENB6798 EQUITY LIFESTYLE PPTYS INC 29472R108 1870.00000000 NS USD 128843.00000000 2.481804151171 Long EC CORP US N 1 N N N HOST HOTELS and RESORTS INC N6EL63S0K3PB1YFTDI24 HOST HOTELS and RESORTS INC 44107P104 5869.00000000 NS USD 94901.73000000 1.828019430371 Long EC CORP US N 1 N N N UDR INC P3CH2EG5X6Z1XWU1OO74 UDR INC 902653104 3773.00000000 NS USD 155938.09000000 3.003716143583 Long EC CORP US N 1 N N N HELICAL PLC 2138003SBD2Z7WV2MP70 HELICAL BAR PLC N/A 3483.00000000 NS 13131.78000000 0.252947433048 Long EC CORP GB N 1 N N N ASSURA PLC 21380026T19N2Y52XF72 ASSURA PLC N/A 84351.00000000 NS 53958.13000000 1.039354183179 Long EC CORP GB N 1 N N N MAPLETREE PAN ASIA COMMERCIAL TRUST 549300BF18K4IC5LZ208 MAPLETREE PAN ASIA COMMERCIAL TRUST N/A 10930.00000000 NS 14478.43000000 0.278886921885 Long EC CORP SG N 2 N N N ARGAN SA 529900FXM41XSCUSGH04 ARGAN N/A 723.00000000 NS 56404.50000000 1.086476737150 Long EC CORP FR N 1 N N N NATIONAL STORAGE REIT N/A NATIONAL STORAGE REIT STAPLED N/A 36933.00000000 NS 61514.90000000 1.184914463175 Long EC CORP AU N 2 N N N DIAMONDROCK HOSPITALITY CO 529900KKD4BPVBUAQ734 DIAMONDROCK HOSPITALITY CO 252784301 6501.00000000 NS USD 52723.11000000 1.015564937642 Long EC CORP US N 1 N N N DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST 549300QOI0TM3CBYUH79 DREAM INDUSTRIAL REAL ESTATE INVMT TR 26153W109 10245.00000000 NS 112215.96000000 2.161530198424 Long EC CORP CA N 1 N N N REGENCY CENTERS CORP(REIT) 529900053A7X7FJ97S58 REGENCY CENTERS CORP REIT 758849103 1437.00000000 NS USD 88274.91000000 1.700372065865 Long EC CORP US N 1 N N N TANGER FACTORY OUTLET UKEW8YSXE4Y581KYOL30 TANGER FACTORY OUTLET - REIT 875465106 738.00000000 NS USD 14472.18000000 0.278766532915 Long EC CORP US N 1 N N N PROLOGIS INC 529900DFH19P073LZ636 PROLOGIS INC REIT 74340W103 3839.00000000 NS USD 480834.75000000 9.261951977036 Long EC CORP US N 1 N N N 2023-05-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_2849_20230430.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Global Real Estate Fund
April 30, 2023
AGRE-NPRT3-0623
1.9879814.106
Common Stocks - 98.7%
 
  
Shares
Value ($)
 
Australia - 4.5%
 
  
  
Arena (REIT) unit
 
23,008
57,196
Charter Hall Retail REIT
 
23,023
59,264
National Storage REIT unit
 
36,933
61,515
Scentre Group unit
 
28,690
55,059
TOTAL AUSTRALIA
  
  
233,034
Canada - 4.1%
 
  
  
Boardwalk (REIT)
 
2,400
102,742
Dream Industrial (REIT)
 
10,245
112,216
TOTAL CANADA
  
  
214,958
France - 2.5%
 
  
  
ARGAN SA
 
723
56,405
Covivio
 
810
45,966
Covivio rights (a)(b)
  
810
3,347
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit (a)
  
491
26,262
TOTAL FRANCE
  
  
131,980
Germany - 1.9%
 
  
  
Vonovia SE
 
4,424
95,950
Hong Kong - 1.5%
 
  
  
Hysan Development Co. Ltd.
 
9,847
27,828
Link (REIT)
 
7,573
49,534
TOTAL HONG KONG
  
  
77,362
Ireland - 0.7%
 
  
  
Dalata Hotel Group PLC (a)
  
7,083
35,551
Japan - 6.5%
 
  
  
Advance Residence Investment Corp.
 
14
36,324
Kenedix Residential Investment Corp.
 
37
58,048
LaSalle Logiport REIT
 
60
71,280
Mitsubishi Estate Co. Ltd.
 
9,816
120,975
Mitsui Fudosan Logistics Park, Inc.
 
14
52,606
TOTAL JAPAN
  
  
339,233
Singapore - 4.7%
 
  
  
CapitaMall Trust
 
62,922
96,078
CDL Hospitality Trusts unit
 
20,744
19,677
Mapletree Pan Asia Commercial Trust
 
10,930
14,478
UOL Group Ltd.
 
21,492
112,121
TOTAL SINGAPORE
  
  
242,354
Spain - 1.1%
 
  
  
Lar Espana Real Estate Socimi SA
 
2,107
11,910
Merlin Properties Socimi SA
 
5,204
45,932
TOTAL SPAIN
  
  
57,842
Sweden - 1.1%
 
  
  
Catena AB
 
1,441
55,167
United Kingdom - 5.9%
 
  
  
Assura PLC
 
84,351
53,958
Grainger Trust PLC
 
34,121
110,892
Helical PLC
 
3,483
13,132
Segro PLC
 
5,242
54,996
Shaftesbury Capital PLC
 
24,928
36,905
Unite Group PLC
 
3,186
38,398
TOTAL UNITED KINGDOM
  
  
308,281
United States of America - 64.2%
 
  
  
American Homes 4 Rent Class A
 
2,707
90,035
Apartment Income (REIT) Corp.
 
1,749
64,678
Crown Castle International Corp.
 
862
106,104
CubeSmart
 
2,888
131,375
DiamondRock Hospitality Co.
 
6,501
52,723
Digital Realty Trust, Inc.
 
1,832
181,643
Elme Communities (SBI)
 
2,095
36,097
Equinix, Inc.
 
407
294,701
Equity Lifestyle Properties, Inc.
 
1,870
128,843
Extra Space Storage, Inc.
 
898
136,532
Flagship Communities (REIT)
 
3,995
65,918
Gaming & Leisure Properties
 
977
50,804
Host Hotels & Resorts, Inc.
 
5,869
94,902
Invitation Homes, Inc.
 
2,625
87,596
Kimco Realty Corp.
 
4,688
89,963
LXP Industrial Trust (REIT)
 
876
8,234
Mid-America Apartment Communities, Inc.
 
876
134,729
National Retail Properties, Inc.
 
2,408
104,748
Phillips Edison & Co., Inc.
 
1,480
46,679
Prologis (REIT), Inc.
 
3,839
480,832
Regency Centers Corp.
 
1,437
88,275
RLJ Lodging Trust
 
3,752
37,895
Ryman Hospitality Properties, Inc.
 
398
35,685
Spirit Realty Capital, Inc.
 
1,982
76,228
Sun Communities, Inc.
 
804
111,700
Tanger Factory Outlet Centers, Inc.
 
738
14,472
Terreno Realty Corp.
 
369
22,727
UDR, Inc.
 
3,773
155,938
Urban Edge Properties
 
2,091
30,675
Ventas, Inc.
 
3,903
187,539
Welltower, Inc.
 
2,302
182,364
TOTAL UNITED STATES OF AMERICA
  
  
3,330,634
 
TOTAL COMMON STOCKS
 (Cost $4,541,605)
  
  
  
5,122,346
 
  
  
  
Money Market Funds - 1.6%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 4.88% (c)
 
 (Cost $83,312)
 
  
83,295
83,312
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.3%
 (Cost $4,624,917)
 
  
 
5,205,658
NET OTHER ASSETS (LIABILITIES) - (0.3)%  
(17,731)
NET ASSETS - 100.0%
5,187,927
 
  
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(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,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 4.88%
80,792
3,894,685
3,892,165
2,335
-
-
83,312
0.0%
Total
80,792
3,894,685
3,892,165
2,335
-
-
83,312
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend 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:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing 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 or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
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.
 
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.