NPORT-EX 2 QTLY_6287_20220930.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Series Emerging Markets Debt Local Currency Fund
September 30, 2022
LCC-NPRT3-1122
1.9899865.101
Foreign Government and Government Agency Obligations - 82.9%
 
  
Principal
Amount (a)
 
Value ($)
 
Brazil - 8.4%
 
  
  
Brazil Letras Do Tesouro Nacio, yield at date of purchase 5.8628% to 12.3583% 7/1/23 to 1/1/26
BRL
74,020,000
12,318,007
Brazilian Federative Republic:
  
  
  
 10% 1/1/25
BRL
23,500,000
4,213,344
 10% 1/1/27
BRL
38,000,000
6,653,747
 10% 1/1/29
BRL
18,000,000
3,072,201
 10% 1/1/31
BRL
23,500,000
3,931,220
 10% 1/1/33
BRL
700,000
115,198
TOTAL BRAZIL
  
  
30,303,717
Chile - 1.8%
 
  
  
Chilean Republic:
  
  
  
 4.5% 3/1/26
CLP
3,050,000,000
2,879,870
 4.7% 9/1/30 (Reg. S) (b)
CLP
1,000,000,000
901,423
 5% 3/1/35
CLP
1,825,000,000
1,602,813
 6% 1/1/43
CLP
1,275,000,000
1,200,597
TOTAL CHILE
  
  
6,584,703
China - 9.5%
 
  
  
Peoples Republic of China:
  
  
  
 2.68% 5/21/30
CNY
76,250,000
10,611,941
 2.88% 11/5/23
CNY
57,000,000
8,087,788
 3.28% 12/3/27
CNY
88,750,000
12,914,686
 3.81% 9/14/50
CNY
15,250,000
2,367,470
TOTAL CHINA
  
  
33,981,885
Colombia - 4.3%
 
  
  
Colombian Republic:
  
  
  
 5.75% 11/3/27
COP
31,100,000,000
5,065,525
 6% 4/28/28
COP
1,850,000,000
297,576
 7% 6/30/32
COP
22,800,000,000
3,374,124
 7.25% 10/26/50
COP
8,500,000,000
1,055,873
 7.5% 8/26/26
COP
13,650,000,000
2,520,384
 9.25% 5/28/42
COP
9,500,000,000
1,507,490
 10% 7/24/24
COP
8,300,000,000
1,747,706
TOTAL COLOMBIA
  
  
15,568,678
Czech Republic - 2.9%
 
  
  
Czech Republic:
  
  
  
 0.95% 5/15/30 (Reg. S)
CZK
146,000,000
4,229,329
 1.2% 3/13/31
CZK
45,000,000
1,302,234
 2% 10/13/33
CZK
171,000,000
4,962,319
TOTAL CZECH REPUBLIC
  
  
10,493,882
Dominican Republic - 0.7%
 
  
  
Dominican Republic:
  
  
  
 8.9% 2/15/23(Reg. S)
DOP
116,250,000
2,157,053
 9.75% 6/5/26 (Reg. S)
DOP
26,500,000
478,573
TOTAL DOMINICAN REPUBLIC
  
  
2,635,626
Egypt - 0.6%
 
  
  
Arab Republic of Egypt:
  
  
  
 14.556% 10/13/27
EGP
36,000,000
1,637,670
 16.1% 5/7/29
EGP
12,000,000
562,124
TOTAL EGYPT
  
  
2,199,794
Hungary - 1.9%
 
  
  
Hungarian Republic:
  
  
  
 2.25% 6/22/34
HUF
470,000,000
546,313
 3% 6/26/24
HUF
365,000,000
719,546
 3% 10/27/38
HUF
410,000,000
450,185
 3.25% 10/22/31
HUF
997,000,000
1,437,200
 5.5% 6/24/25
HUF
675,000,000
1,322,176
 6.75% 10/22/28
HUF
1,118,000,000
2,206,439
TOTAL HUNGARY
  
  
6,681,859
Indonesia - 10.7%
 
  
  
Indonesian Republic:
  
  
  
 6.375% 4/15/32
IDR
35,000,000,000
2,139,879
 6.5% 6/15/25
IDR
34,750,000,000
2,260,376
 7.5% 4/15/40
IDR
61,750,000,000
4,045,025
 8.125% 5/15/24
IDR
85,000,000,000
5,732,720
 8.25% 5/15/29
IDR
102,000,000,000
6,999,836
 8.25% 5/15/36
IDR
44,750,000,000
3,081,292
 8.375% 9/15/26
IDR
120,750,000,000
8,298,465
 8.375% 3/15/34
IDR
71,788,000,000
4,980,727
 8.375% 4/15/39
IDR
15,750,000,000
1,098,957
TOTAL INDONESIA
  
  
38,637,277
Kazakhstan - 0.2%
 
  
  
Kazakhstan Republic 10.5% 8/4/26
KZT
440,000,000
848,615
Malaysia - 5.0%
 
  
  
Malaysian Government:
  
  
  
 3.757% 5/22/40
MYR
10,000,000
1,862,605
 3.828% 7/5/34
MYR
14,300,000
2,842,237
 3.885% 8/15/29
MYR
12,100,000
2,529,518
 4.065% 6/15/50
MYR
14,500,000
2,680,358
 4.696% 10/15/42
MYR
9,000,000
1,887,613
 4.762% 4/7/37
MYR
28,250,000
6,157,306
TOTAL MALAYSIA
  
  
17,959,637
Mexico - 11.0%
 
  
  
United Mexican States:
  
  
  
 5.75% 3/5/26
MXN
275,000,000
11,982,255
 7.75% 11/23/34
MXN
65,000,000
2,785,726
 7.75% 11/13/42
MXN
124,250,000
5,135,311
 8% 12/7/23
MXN
170,750,000
8,229,947
 8% 7/31/53
MXN
22,000,000
915,415
 8.5% 5/31/29
MXN
223,000,000
10,443,115
TOTAL MEXICO
  
  
39,491,769
Peru - 2.3%
 
  
  
Peruvian Republic:
  
  
  
 5.35% 8/12/40
PEN
2,250,000
385,960
 5.4% 8/12/34(Reg. S)
PEN
15,250,000
2,859,946
 6.35% 8/12/28
PEN
9,900,000
2,265,191
 6.95% 8/12/31
PEN
11,500,000
2,575,135
TOTAL PERU
  
  
8,086,232
Philippines - 0.3%
 
  
  
Philippine Republic:
  
  
  
 3.9% 11/26/22
PHP
30,000,000
498,744
 6.25% 1/14/36
PHP
30,000,000
454,377
TOTAL PHILIPPINES
  
  
953,121
Poland - 4.5%
 
  
  
Polish Government:
  
  
  
 1.25% 10/25/30
PLN
18,300,000
2,384,770
 1.75% 4/25/32
PLN
16,750,000
2,143,820
 2.5% 7/25/26
PLN
37,250,000
6,306,176
 2.5% 7/25/27
PLN
15,000,000
2,445,137
 2.75% 10/25/29
PLN
18,250,000
2,786,044
TOTAL POLAND
  
  
16,065,947
Romania - 3.1%
 
  
  
Romanian Republic:
  
  
  
 3.65% 9/24/31
RON
16,050,000
2,207,396
 4% 10/25/23
RON
9,750,000
1,854,271
 4.25% 6/28/23
RON
20,250,000
3,908,574
 4.75% 2/24/25
RON
5,550,000
1,012,163
 4.75% 10/11/34
RON
2,500,000
348,303
 5% 2/12/29
RON
10,950,000
1,799,060
TOTAL ROMANIA
  
  
11,129,767
South Africa - 9.4%
 
  
  
South African Republic:
  
  
  
 6.5% 2/28/41
ZAR
125,250,000
4,182,067
 7% 2/28/31
ZAR
56,750,000
2,426,021
 8% 1/31/30
ZAR
208,500,000
9,868,890
 8.75% 2/28/48
ZAR
106,000,000
4,423,423
 8.875% 2/28/35
ZAR
215,000,000
9,714,192
 10.5% 12/21/26
ZAR
57,500,000
3,287,959
TOTAL SOUTH AFRICA
  
  
33,902,552
Thailand - 5.0%
 
  
  
Kingdom of Thailand:
  
  
  
 1.585% 12/17/35
THB
45,750,000
955,554
 1.6% 12/17/29
THB
73,500,000
1,776,198
 1.6% 6/17/35
THB
180,750,000
3,782,190
 2% 12/17/31
THB
76,000,000
1,852,470
 2% 6/17/42
THB
45,000,000
874,354
 2.875% 6/17/46
THB
44,400,000
934,338
 3.3% 6/17/38
THB
237,500,000
5,841,172
 4.875% 6/22/29
THB
61,750,000
1,812,544
TOTAL THAILAND
  
  
17,828,820
Turkey - 1.1%
 
  
  
Turkish Republic:
  
  
  
 8% 3/12/25
TRY
38,250,000
1,925,894
 11% 2/24/27
TRY
16,250,000
893,330
 11.7% 11/13/30
TRY
12,500,000
747,005
 12.4% 3/8/28
TRY
7,750,000
459,581
TOTAL TURKEY
  
  
4,025,810
Uruguay - 0.2%
 
  
  
Uruguay Republic:
  
  
  
 8.25% 5/21/31
UYU
31,500,000
623,006
 8.5% 3/15/28 (Reg. S)
UYU
5,500,000
116,425
TOTAL URUGUAY
  
  
739,431
 
TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS
 (Cost $362,145,659)
  
  
  
298,119,122
 
  
  
  
Supranational Obligations - 1.2%
 
  
Principal
Amount (a)
 
Value ($)
 
Asian Infrastructure Investment Bank 2.375% 2/10/25 (Reg. S)
PHP
57,900,000
904,599
Inter-American Development Bank:
  
  
  
 5.1% 11/17/26
IDR
15,000,000,000
930,527
 5.7% 11/12/24
INR
105,000,000
1,239,217
International Finance Corp. 5.85% 11/25/22
INR
90,000,000
1,097,419
 
TOTAL SUPRANATIONAL OBLIGATIONS
 (Cost $4,866,910)
  
  
4,171,762
 
  
  
  
Money Market Funds - 15.4%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 3.10% (c)
 
 (Cost $55,478,854)
 
  
55,467,760
55,478,854
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.5%
 (Cost $422,491,423)
 
  
 
357,769,738
NET OTHER ASSETS (LIABILITIES) - 0.5% (d)
1,905,297
NET ASSETS - 100.0%
359,675,035
 
  
 Forward Foreign Currency Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized  
Appreciation/
(Depreciation) ($)
 
  
  
  
  
  
  
USD
3,714,855
BRL
20,018,980
Citibank, N.A.
10/03/22
3,753
USD
1,509,035
ZAR
26,961,282
Goldman Sachs Bank USA
10/03/22
19,461
BRL
20,214,000
USD
3,731,172
BNP Paribas S.A.
10/20/22
1,189
BRL
4,589,000
USD
853,609
Bank of America, N.A.
10/20/22
(6,285)
BRL
4,830,000
USD
923,430
Citibank, N. A.
10/20/22
(31,607)
BRL
4,964,000
USD
965,083
Citibank, N. A.
10/20/22
(48,518)
BRL
10,249,000
USD
1,937,063
Citibank, N. A.
10/20/22
(44,663)
BRL
22,475,000
USD
4,319,208
Citibank, N. A.
10/20/22
(169,371)
BRL
5,865,000
USD
1,113,854
Citibank, N. A.
10/20/22
(30,927)
CLP
1,842,951,000
USD
1,975,296
Citibank, N. A.
10/20/22
(76,244)
CLP
2,083,191,000
USD
2,345,804
Citibank, N. A.
10/20/22
(199,198)
CLP
883,366,000
USD
938,005
Citibank, N. A.
10/20/22
(27,748)
CLP
896,944,000
USD
912,456
Citibank, N. A.
10/20/22
11,792
CLP
583,066,000
USD
608,032
Citibank, N. A.
10/20/22
(7,217)
CNY
11,762,000
USD
1,709,593
Citibank, N. A.
10/20/22
(55,582)
CNY
14,612,000
USD
2,161,155
Goldman Sachs Bank USA
10/20/22
(106,367)
CNY
4,704,000
USD
701,043
JPMorgan Chase Bank, N.A.
10/20/22
(39,551)
COP
3,171,500,000
USD
710,780
BNP Paribas S.A.
10/20/22
(25,054)
COP
5,826,400,000
USD
1,360,488
Citibank, N. A.
10/20/22
(100,733)
COP
4,231,000,000
USD
956,591
Citibank, N. A.
10/20/22
(41,785)
CZK
90,099,000
USD
3,718,269
BNP Paribas S.A.
10/20/22
(134,498)
CZK
63,981,000
USD
2,582,928
BNP Paribas S.A.
10/20/22
(38,024)
CZK
25,591,000
USD
1,039,295
Bank of America, N.A.
10/20/22
(21,389)
CZK
49,891,000
USD
2,009,873
Citibank, N. A.
10/20/22
(25,413)
EGP
43,396,000
USD
2,106,602
BNP Paribas S.A.
10/20/22
48,567
EGP
10,572,000
USD
505,595
Goldman Sachs Bank USA
10/20/22
19,440
EGP
18,781,000
USD
910,373
Goldman Sachs Bank USA
10/20/22
22,345
EUR
1,956,000
USD
1,950,393
Bank of America, N.A.
10/20/22
(31,234)
HUF
431,782,000
USD
1,072,533
Bank of America, N.A.
10/20/22
(77,095)
HUF
595,318,000
USD
1,447,621
Bank of America, N.A.
10/20/22
(75,163)
HUF
382,804,000
USD
967,826
HSBC Bank
10/20/22
(85,302)
HUF
1,528,590,000
USD
3,857,850
JPMorgan Chase Bank, N.A.
10/20/22
(333,808)
IDR
5,214,000,000
USD
346,745
BNP Paribas S.A.
10/20/22
(4,513)
IDR
10,993,600,000
USD
738,718
Goldman Sachs Bank USA
10/20/22
(17,131)
IDR
11,672,300,000
USD
785,855
Goldman Sachs Bank USA
10/20/22
(19,720)
IDR
4,489,000,000
USD
300,268
JPMorgan Chase Bank, N.A.
10/20/22
(5,623)
ILS
6,687,000
USD
1,990,481
Bank of America, N.A.
10/20/22
(112,689)
ILS
3,157,000
USD
900,130
JPMorgan Chase Bank, N.A.
10/20/22
(13,605)
INR
88,063,000
USD
1,103,685
Citibank, N. A.
10/20/22
(25,256)
INR
67,755,000
USD
849,806
Citibank, N. A.
10/20/22
(20,071)
INR
116,587,000
USD
1,466,319
State Street Bank and Trust Co
10/20/22
(38,582)
MXN
4,980,000
USD
247,043
BNP Paribas S.A.
10/20/22
(520)
MXN
112,994,000
USD
5,498,378
Brown Brothers Harriman & Co
10/20/22
95,125
MXN
40,821,000
USD
1,976,791
Goldman Sachs Bank USA
10/20/22
43,957
MXN
20,204,000
USD
989,212
HSBC Bank
10/20/22
10,940
MXN
20,520,000
USD
997,738
JPMorgan Chase Bank, N.A.
10/20/22
18,057
MYR
48,487,000
USD
10,898,404
Goldman Sachs Bank USA
10/20/22
(437,827)
MYR
2,728,000
USD
598,639
Goldman Sachs Bank USA
10/20/22
(10,101)
MYR
12,519,000
USD
2,748,710
Goldman Sachs Bank USA
10/20/22
(47,863)
PEN
1,682,000
USD
428,754
BNP Paribas S.A.
10/20/22
(7,479)
PHP
112,150,000
USD
1,899,238
Bank of America, N.A.
10/20/22
7,384
PHP
54,925,000
USD
974,366
Goldman Sachs Bank USA
10/20/22
(40,606)
PLN
4,748,000
USD
1,014,422
BNP Paribas S.A.
10/20/22
(59,142)
PLN
9,527,000
USD
2,033,145
BNP Paribas S.A.
10/20/22
(116,347)
PLN
15,860,000
USD
3,407,823
Brown Brothers Harriman & Co
10/20/22
(216,848)
PLN
2,230,000
USD
470,814
Brown Brothers Harriman & Co
10/20/22
(22,146)
PLN
9,394,000
USD
2,056,552
Goldman Sachs Bank USA
10/20/22
(166,514)
PLN
13,994,000
USD
2,918,274
HSBC Bank
10/20/22
(102,732)
PLN
4,250,000
USD
852,514
HSBC Bank
10/20/22
2,571
PLN
9,886,000
USD
2,035,191
JPMorgan Chase Bank, N.A.
10/20/22
(46,163)
RON
7,697,000
USD
1,588,740
BNP Paribas S.A.
10/20/22
(67,896)
RON
4,705,000
USD
919,126
BNP Paribas S.A.
10/20/22
10,531
RON
5,317,000
USD
1,099,105
Goldman Sachs Bank USA
10/20/22
(48,524)
RON
3,479,000
USD
716,716
HSBC Bank
10/20/22
(29,303)
RON
9,668,000
USD
1,998,346
JPMorgan Chase Bank, N.A.
10/20/22
(88,054)
RON
706,000
USD
137,070
JPMorgan Chase Bank, N.A.
10/20/22
2,428
RUB
416,551,000
USD
6,977,404
Goldman Sachs Bank USA
10/20/22
(205,322)
RUB
33,684,000
USD
484,662
JPMorgan Chase Bank, N.A.
10/20/22
62,956
SGD
5,432,000
USD
3,948,495
HSBC Bank
10/20/22
(165,855)
SGD
2,744,000
USD
1,964,340
State Street Bank and Trust Co
10/20/22
(53,521)
THB
528,258,000
USD
14,734,914
JPMorgan Chase Bank, N.A.
10/20/22
(753,107)
THB
65,585,000
USD
1,840,208
JPMorgan Chase Bank, N.A.
10/20/22
(104,319)
THB
71,424,000
USD
2,021,053
JPMorgan Chase Bank, N.A.
10/20/22
(130,619)
THB
36,257,000
USD
995,597
JPMorgan Chase Bank, N.A.
10/20/22
(35,956)
THB
35,109,000
USD
959,480
JPMorgan Chase Bank, N.A.
10/20/22
(30,224)
TRY
5,325,000
USD
271,516
Citibank, N. A.
10/20/22
9,605
USD
1,457,404
BRL
7,647,000
BNP Paribas S.A.
10/20/22
45,444
USD
1,200,694
BRL
6,225,000
Bank of America, N.A.
10/20/22
51,296
USD
2,255,884
BRL
11,847,000
Citibank, N. A.
10/20/22
68,426
USD
1,055,091
BRL
5,420,000
Citibank, N. A.
10/20/22
54,329
USD
932,887
BRL
4,879,000
Citibank, N. A.
10/20/22
32,017
USD
2,129,923
BRL
11,574,000
Citibank, N. A.
10/20/22
(7,128)
USD
334,074
BRL
1,730,000
State Street Bank and Trust Co
10/20/22
14,642
USD
1,915,073
CLP
1,737,986,000
BNP Paribas S.A.
10/20/22
124,181
USD
900,407
CLP
839,449,000
Citibank, N. A.
10/20/22
35,404
USD
1,976,722
CLP
1,806,922,000
Citibank, N. A.
10/20/22
114,796
USD
991,996
CLP
915,811,000
Citibank, N. A.
10/20/22
48,307
USD
1,922,049
CNY
13,660,000
Goldman Sachs Bank USA
10/20/22
1,134
USD
1,158,836
CNY
7,843,000
State Street Bank and Trust Co
10/20/22
55,927
USD
377,288
COP
1,686,100,000
Bank of America, N.A.
10/20/22
12,728
USD
979,116
COP
4,299,300,000
Bank of America, N.A.
10/20/22
49,543
USD
294,567
COP
1,358,000,000
Citibank, N. A.
10/20/22
947
USD
1,379,030
COP
5,826,400,000
JPMorgan Chase Bank, N.A.
10/20/22
119,275
USD
1,007,151
COP
4,295,500,000
State Street Bank and Trust Co
10/20/22
78,400
USD
1,147,951
CZK
27,879,000
BNP Paribas S.A.
10/20/22
39,038
USD
1,387,242
CZK
33,918,000
Brown Brothers Harriman & Co
10/20/22
38,122
USD
933,270
CZK
22,360,000
Citibank, N. A.
10/20/22
43,881
USD
689,712
CZK
17,267,000
Goldman Sachs Bank USA
10/20/22
2,902
USD
1,010,870
EUR
989,000
JPMorgan Chase Bank, N.A.
10/20/22
40,497
USD
975,556
EUR
967,000
Royal Bank of Canada
10/20/22
26,769
USD
995,200
HUF
392,578,000
Bank of America, N.A.
10/20/22
90,143
USD
986,310
HUF
390,023,000
Goldman Sachs Bank USA
10/20/22
87,143
USD
997,084
HUF
385,092,000
HSBC Bank
10/20/22
109,285
USD
1,055,131
HUF
424,108,000
HSBC Bank
10/20/22
77,384
USD
970,036
IDR
14,461,300,000
BNP Paribas S.A.
10/20/22
20,840
USD
1,993,882
IDR
29,493,500,000
Goldman Sachs Bank USA
10/20/22
58,017
USD
1,742,786
IDR
26,647,200,000
Goldman Sachs Bank USA
10/20/22
(6,256)
USD
1,964,581
INR
157,471,000
Citibank, N. A.
10/20/22
36,175
USD
1,126,503
MXN
22,796,000
BNP Paribas S.A.
10/20/22
(1,959)
USD
2,259,981
MXN
45,582,000
Canadian Imperial Bk. of Comm.
10/20/22
3,551
USD
7,807,895
MXN
158,558,000
Goldman Sachs Bank USA
10/20/22
(41,148)
USD
1,026,208
MXN
20,701,000
Goldman Sachs Bank USA
10/20/22
1,453
USD
2,536,758
MYR
11,318,000
Goldman Sachs Bank USA
10/20/22
95,015
USD
823,251
MYR
3,824,000
Goldman Sachs Bank USA
10/20/22
(1,738)
USD
760,818
MYR
3,534,000
Goldman Sachs Bank USA
10/20/22
(1,606)
USD
981,483
PHP
56,239,000
Citibank, N. A.
10/20/22
25,385
USD
2,704,470
PHP
150,666,000
State Street Bank and Trust Co
10/20/22
143,052
USD
2,956,369
PLN
13,765,000
BNP Paribas S.A.
10/20/22
186,901
USD
971,529
PLN
4,636,000
Bank of America, N.A.
10/20/22
38,783
USD
813,715
PLN
3,885,000
Bank of America, N.A.
10/20/22
32,067
USD
3,189,341
PLN
14,931,000
JPMorgan Chase Bank, N.A.
10/20/22
185,278
USD
1,901,775
PLN
9,022,000
JPMorgan Chase Bank, N.A.
10/20/22
86,582
USD
1,717,803
RON
8,443,000
Bank of America, N.A.
10/20/22
49,557
USD
1,350,051
RON
6,839,000
Brown Brothers Harriman & Co
10/20/22
(1,261)
USD
1,002,604
RON
4,936,000
Goldman Sachs Bank USA
10/20/22
27,303
USD
1,788,615
RUB
116,260,000
Goldman Sachs Bank USA
10/20/22
(101,483)
USD
1,606,897
RUB
102,279,000
Goldman Sachs Bank USA
10/20/22
(55,905)
USD
1,764,944
RUB
125,311,000
JPMorgan Chase Bank, N.A.
10/20/22
(272,301)
USD
1,530,719
RUB
106,385,000
JPMorgan Chase Bank, N.A.
10/20/22
(198,836)
USD
3,932,257
SGD
5,432,000
State Street Bank and Trust Co
10/20/22
149,617
USD
973,318
THB
34,235,000
JPMorgan Chase Bank, N.A.
10/20/22
67,194
USD
857,127
THB
30,968,000
JPMorgan Chase Bank, N.A.
10/20/22
37,473
USD
1,045,326
THB
38,583,000
JPMorgan Chase Bank, N.A.
10/20/22
24,121
USD
185,016
TRY
3,523,000
Brown Brothers Harriman & Co
10/20/22
(972)
USD
280,933
TRY
5,325,000
HSBC Bank
10/20/22
(187)
USD
1,052,856
ZAR
17,809,000
Bank of America, N.A.
10/20/22
70,406
USD
2,025,152
ZAR
33,326,000
Citibank, N. A.
10/20/22
186,692
USD
2,141,927
ZAR
36,194,000
Goldman Sachs Bank USA
10/20/22
145,251
USD
829,923
ZAR
14,124,000
Goldman Sachs Bank USA
10/20/22
50,759
USD
1,301,214
ZAR
22,343,000
State Street Bank and Trust Co
10/20/22
68,642
USD
965,563
ZAR
16,851,000
State Street Bank and Trust Co
10/20/22
35,961
ZAR
14,555,000
USD
859,217
BNP Paribas S.A.
10/20/22
(56,277)
ZAR
7,267,000
USD
418,702
Bank of America, N.A.
10/20/22
(17,811)
ZAR
29,617,000
USD
1,784,025
Brown Brothers Harriman & Co
10/20/22
(150,175)
ZAR
33,970,000
USD
2,086,579
Goldman Sachs Bank USA
10/20/22
(212,593)
ZAR
16,673,000
USD
1,008,669
Goldman Sachs Bank USA
10/20/22
(88,888)
ZAR
26,744,000
USD
1,563,275
Goldman Sachs Bank USA
10/20/22
(87,917)
ZAR
16,136,000
USD
927,599
Goldman Sachs Bank USA
10/20/22
(37,441)
ZAR
27,379,000
USD
1,530,102
Goldman Sachs Bank USA
10/20/22
(19,714)
 
  
  
  
  
  
  
TOTAL FORWARD FOREIGN CURRENCY CONTRACTS
  
(2,760,414)
 
  
  
  
  
  
  
Unrealized Appreciation
  
  
3,678,136
Unrealized Depreciation
  
  
(6,438,550)
Currency Abbreviations
         BRL
-
Brazilian real
         CLP
-
Chilean peso
         CNY
-
Chinese yuan
         COP
-
Colombian peso
         CZK
-
Czech koruna
         DOP
-
Dominican Republic peso
         EGP
-
Egyptian pound
         EUR
-
European Monetary Unit
         HUF
-
Hungarian forint
         IDR
-
Indonesian rupiah
         ILS
-
Israeli shekel
         INR
-
Indian rupee
         KZT
-
Kazakhstan tenge
         MXN
-
Mexican peso
         MYR
-
Malyasian ringgit
         PEN
-
Peruvian new sol
         PHP
-
Philippine peso
         PLN
-
Polish zloty
         RON
-
Romanian leu (new)
         RUB
-
Russian ruble
         SGD
-
Singapore dollar
         THB
-
Thai baht
         TRY
-
Turkish Lira
         USD
-
U.S. dollar
         UYU
-
Uruguay peso
         ZAR
-
South African rand
 
Categorizations in the Schedule of Investments are based on country or territory of incorporation.
 
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 $901,423 or 0.3% of net assets.
 
(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.
 
(d)
Includes $3,150,000 of cash collateral segregated for open forward foreign currency contracts.
 
 
 
 
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 3.10%
54,451,175
164,155,879
163,128,200
320,894
-
-
55,478,854
0.1%
Total
54,451,175
164,155,879
163,128,200
320,894
-
-
55,478,854
  
 
  
  
  
  
  
  
  
  
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.Foreign Government and Government Agency Obligations and Supranational 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. 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.
 
The Fund's relatively large investment in countries with limited or developing capital markets may involve greater risks than investments in more developed markets and the prices of such investments may be volatile. The yields of emerging market debt obligations reflect, among other things, perceived credit risk. The consequences of political, social or economic changes in these markets may have disruptive effects on the market prices of the Fund's investments and the income they generate, as well as the Fund's ability to repatriate such amounts.
 
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.
 
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