N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3221

Fidelity Charles Street Trust
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

October 31

 

 

Date of reporting period:

July 31, 2009

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity® Global Balanced Fund

July 31, 2009 

1.804837.105

GBL-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 55.8%

Shares

Value

Australia - 2.8%

AMP Ltd.

165,715

$ 778,862

ASX Ltd.

22,866

718,636

BHP Billiton Ltd.

52,834

1,667,025

Billabong International Ltd.

39,337

302,657

BlueScope Steel Ltd.

86,777

244,566

Coca-Cola Amatil Ltd.

9,336

72,846

Commonwealth Bank of Australia

26,971

965,390

Computershare Ltd.

89,690

737,326

Harvey Norman Holdings Ltd.

133,472

366,122

Lion Nathan Ltd.

29,132

285,292

Macquarie Group Ltd.

25,990

956,794

National Australia Bank Ltd.

16,014

325,840

Newcrest Mining Ltd.

15,000

376,335

QBE Insurance Group Ltd.

44,833

731,130

Rio Tinto Ltd.

7,300

368,741

Wesfarmers Ltd.

40,490

875,327

Woolworths Ltd.

27,612

629,255

WorleyParsons Ltd.

4,921

106,219

TOTAL AUSTRALIA

10,508,363

Belgium - 0.3%

Anheuser-Busch InBev SA NV

15,516

617,317

Anheuser-Busch InBev SA NV (strip VVPR) (a)

9,280

40

Fortis (a)

40,300

156,805

Gimv NV

1,900

95,185

Umicore SA

9,900

258,495

TOTAL BELGIUM

1,127,842

Bermuda - 0.1%

Bunge Ltd.

1,000

69,970

Seadrill Ltd.

7,800

125,167

Signet Jewelers Ltd. (United Kingdom)

14,200

316,477

TOTAL BERMUDA

511,614

Brazil - 0.2%

Banco do Brasil SA

6,000

75,949

Petroleo Brasileiro SA - Petrobras:

(PN) sponsored ADR (non-vtg.)

8,600

289,820

sponsored ADR

9,000

371,160

Redecard SA

2,000

29,764

TOTAL BRAZIL

766,693

Common Stocks - continued

Shares

Value

Canada - 2.7%

Agnico-Eagle Mines Ltd. (Canada)

1,500

$ 87,980

Agrium, Inc.

1,100

50,551

Alimentation Couche-Tard, Inc. Class B (sub. vtg.)

7,100

112,166

ARC Energy Trust unit

1,000

16,253

Astral Media, Inc. Class A (non-vtg.)

400

10,897

Bank of Montreal

3,300

165,467

Bank of Nova Scotia

6,500

277,050

Barrick Gold Corp.

7,900

275,860

BCE, Inc.

7,200

165,272

Bombardier, Inc. Class B (sub. vtg.)

6,000

21,274

Brookfield Asset Management, Inc. Class A

6,000

126,031

Cameco Corp.

3,000

82,424

Canadian Imperial Bank of Commerce

4,100

252,352

Canadian National Railway Co.

6,200

301,497

Canadian Natural Resources Ltd.

5,900

354,652

Canadian Oil Sands Trust

3,500

88,105

Canadian Pacific Railway Ltd.

4,400

195,628

Canadian Utilities Ltd. Class A (non-vtg.)

1,500

50,958

CGI Group, Inc. Class A (sub. vtg.) (a)

7,100

72,163

CI Financial Corp.

1,500

29,378

Corus Entertainment, Inc. Class B (non-vtg.)

400

5,476

Crescent Point Energy Corp.

3,300

107,208

Eldorado Gold Corp. (a)

3,800

38,199

Emera, Inc.

2,300

44,299

Enbridge, Inc.

4,000

154,787

EnCana Corp.

6,500

348,605

Finning International, Inc.

1,600

24,712

First Quantum Minerals Ltd.

2,200

146,517

George Weston Ltd.

700

38,146

Goldcorp, Inc.

8,600

326,726

Husky Energy, Inc.

3,000

88,272

IGM Financial, Inc.

2,300

96,048

Imperial Oil Ltd.

3,400

136,177

Intact Financial Corp.

2,800

91,822

Keyera Facilities Income Fund

5,400

95,434

Kinross Gold Corp.

8,400

165,684

Loblaw Companies Ltd.

1,200

38,093

Magna International, Inc. Class A (sub. vtg.)

2,800

141,644

Manulife Financial Corp.

17,100

415,219

Methanex Corp.

2,200

36,655

Metro, Inc. Class A (sub. vtg.)

1,000

31,327

National Bank of Canada

1,400

75,513

Common Stocks - continued

Shares

Value

Canada - continued

Nexen, Inc.

6,200

$ 128,506

Niko Resources Ltd.

600

42,270

Open Text Corp. (a)

200

7,580

Petro-Canada

4,900

202,349

Petrobank Energy & Resources Ltd. (a)

6,800

206,900

Potash Corp. of Saskatchewan, Inc.

2,500

232,886

Power Corp. of Canada (sub. vtg.)

4,700

131,924

Power Financial Corp.

1,500

43,510

Research In Motion Ltd. (a)

7,300

554,800

RioCan (REIT)

4,100

59,063

Ritchie Brothers Auctioneers, Inc.

1,500

36,000

Rogers Communications, Inc. Class B (non-vtg.)

7,200

200,024

RONA, Inc. (a)

2,200

28,037

Royal Bank of Canada

14,900

709,214

Shaw Communications, Inc. Class B

3,900

68,454

Shoppers Drug Mart Corp.

1,300

54,312

SNC-Lavalin Group, Inc.

1,400

59,075

Sun Life Financial, Inc.

3,800

129,871

Suncor Energy, Inc.

15,600

504,482

Talisman Energy, Inc.

10,400

160,728

Teck Resources Ltd. Class B (sub. vtg.)

10,200

268,409

TELUS Corp.

1,300

37,527

Thomson Reuters Corp.

1,800

58,126

Toronto-Dominion Bank

9,500

556,500

TransCanada Corp.

5,500

156,421

Yamana Gold, Inc.

6,000

57,196

TOTAL CANADA

10,076,685

Cayman Islands - 0.1%

China Dongxiang Group Co. Ltd.

370,000

281,205

Ctrip.com International Ltd. sponsored ADR

4,000

205,000

TOTAL CAYMAN ISLANDS

486,205

Chile - 0.0%

Embotelladora Andina SA sponsored ADR

5,000

91,250

China - 0.4%

Baidu.com, Inc. sponsored ADR (a)

800

278,512

BYD Co. Ltd. (H Shares) (a)

46,500

257,705

NetEase.com, Inc. sponsored ADR (a)

6,000

264,360

Tencent Holdings Ltd.

63,800

861,111

TOTAL CHINA

1,661,688

Common Stocks - continued

Shares

Value

Denmark - 0.4%

Carlsberg AS Series B

1,800

$ 124,883

Danske Bank AS (a)

17,969

374,003

Genmab AS (a)

5,000

200,004

Novo Nordisk AS:

Series B

8,600

506,134

Series B sponsored ADR

2,400

140,136

TOTAL DENMARK

1,345,160

Finland - 0.2%

Nokia Corp.

19,145

257,424

Nokia Corp. sponsored ADR

13,100

174,754

Nokian Tyres PLC

7,768

164,077

TOTAL FINLAND

596,255

France - 2.0%

Accor SA

2,951

125,967

AXA SA

20,000

422,153

BNP Paribas SA

12,035

877,370

Bouygues SA

7,100

302,415

Danone

10,683

573,181

Essilor International SA

5,700

316,021

GDF Suez

8,330

318,238

L'Oreal SA

4,300

372,679

PPR SA

4,700

523,769

Renault SA (a)

6,800

289,976

Sanofi-Aventis

11,100

726,218

Schneider Electric SA

4,800

436,058

Societe Generale Series A

4,773

306,462

Technip SA

2,600

157,194

Television Francaise 1 SA

11,200

173,516

Total SA sponsored ADR

20,600

1,146,390

Unibail-Rodamco

1,500

262,103

Vallourec SA

1,080

142,075

TOTAL FRANCE

7,471,785

Germany - 1.4%

Bayerische Motoren Werke AG (BMW)

10,900

503,807

Deutsche Bank AG

3,159

205,016

Deutsche Bank AG (NY Shares)

9,500

616,550

Deutsche Boerse AG

5,300

419,993

Deutsche Post AG

9,800

155,109

Deutsche Telekom AG (Reg.)

41,165

526,498

E.ON AG

22,300

844,158

Common Stocks - continued

Shares

Value

Germany - continued

Fresenius Medical Care AG & Co. KGaA

3,100

$ 142,357

MAN AG

2,500

172,812

Munich Re Group (Reg.)

3,300

498,976

Salzgitter AG

1,000

101,407

SAP AG

8,900

420,521

Siemens AG (Reg.)

9,800

778,892

TOTAL GERMANY

5,386,096

Hong Kong - 1.1%

BOC Hong Kong Holdings Ltd.

165,000

351,723

China Unicom (Hong Kong) Ltd. sponsored ADR

15,700

225,766

Esprit Holdings Ltd.

132,000

953,825

Hong Kong Exchange & Clearing Ltd.

24,500

462,190

Li & Fung Ltd.

152,000

448,164

Sun Hung Kai Properties Ltd.

37,000

562,888

Swire Pacific Ltd. (A Shares)

65,500

735,727

Techtronic Industries Co. Ltd.

236,000

195,808

TOTAL HONG KONG

3,936,091

Ireland - 0.9%

Allied Irish Banks PLC

5,700

14,191

Covidien PLC

40,000

1,512,400

CRH PLC

16,830

401,782

Ingersoll-Rand Co. Ltd.

47,600

1,374,688

Ryanair Holdings PLC sponsored ADR (a)

3,900

110,409

TOTAL IRELAND

3,413,470

Israel - 0.1%

Teva Pharmaceutical Industries Ltd. sponsored ADR

7,000

373,380

Italy - 0.4%

ENI SpA sponsored ADR

10,500

489,090

Fiat SpA (a)

34,600

383,660

Intesa Sanpaolo SpA

165,500

616,234

UniCredit SpA

61,366

179,734

TOTAL ITALY

1,668,718

Japan - 7.6%

Aisin Seiki Co. Ltd.

18,600

478,713

Ajinomoto Co., Inc.

47,000

451,073

Aoyama Trading Co. Ltd.

18,400

311,172

Astellas Pharma, Inc.

12,600

480,774

Bridgestone Corp.

16,200

281,501

Common Stocks - continued

Shares

Value

Japan - continued

Canon, Inc.

27,900

$ 1,034,297

Capcom Co. Ltd.

3,500

70,880

Citizen Holdings Co. Ltd.

29,100

158,095

Daicel Chemical Industries Ltd.

68,000

433,400

Dainippon Screen Manufacturing Co. Ltd. (a)

129,000

469,041

Daiwa House Industry Co. Ltd.

94,000

972,688

Denso Corp.

17,300

511,082

eAccess Ltd.

352

273,459

East Japan Railway Co.

7,900

453,409

Fuji Machine Manufacturing Co. Ltd.

8,100

100,597

Hitachi Transport System Ltd.

15,800

200,569

Honda Motor Co. Ltd.

6,600

211,098

Inpex Corp.

12

91,830

JSR Corp.

15,100

272,282

JTEKT Corp.

25,000

283,004

Kappa Create Co. Ltd.

4,600

108,181

Kobayashi Pharmaceutical Co. Ltd.

10,100

389,652

Kubota Corp.

32,000

288,172

Kuraray Co. Ltd.

52,000

589,747

Matsumotokiyoshi Holdings Co. Ltd.

5,500

123,824

Megachips Corp.

3,900

91,100

Meiji Holdings Co. Ltd. (a)

74

2,988

Mitsubishi Gas Chemical Co., Inc.

76,000

468,323

Mitsubishi UFJ Financial Group, Inc.

140,200

856,362

Mitsubishi UFJ Lease & Finance Co. Ltd.

9,040

277,095

Mitsui & Co. Ltd.

52,000

652,405

Mitsui O.S.K. Lines Ltd.

18,000

109,777

Mitsui Sumitomo Insurance Group Holdings, Inc.

28,000

719,163

Mizuho Trust & Banking Co. Ltd. (a)

74,000

95,423

Nichicon Corp.

8,100

122,857

Nippon Building Fund, Inc.

25

224,606

Nippon Electric Glass Co. Ltd.

67,000

777,571

Nippon Sheet Glass Co. Ltd.

56,000

167,509

Nippon Steel Corp.

145,000

580,858

Nippon Telegraph & Telephone Corp.

12,500

516,079

Nippon Television Network Corp.

5,530

718,356

Nissan Motor Co. Ltd.

144,000

1,045,024

Nissin Food Holdings Co. Ltd.

4,700

150,026

Nomura Holdings, Inc.

43,000

376,806

Nomura Real Estate Office Fund, Inc.

30

197,231

NSK Ltd.

53,000

287,380

NTT DoCoMo, Inc.

528

762,646

Common Stocks - continued

Shares

Value

Japan - continued

Okinawa Cellular Telephone Co.

97

$ 165,785

ORIX Corp.

5,260

333,024

Osaka Securities Exchange Co. Ltd.

67

300,972

Park24 Co. Ltd.

17,400

145,659

Rakuten, Inc.

739

474,910

Ricoh Co. Ltd.

14,000

183,786

ROHM Co. Ltd.

2,200

163,704

Sankyo Co. Ltd. (Gunma)

2,800

166,917

Sega Sammy Holdings, Inc.

23,200

306,031

Seven & i Holdings Co., Ltd.

7,600

178,332

Shinko Electric Industries Co.Ltd.

35,900

566,523

Shionogi & Co. Ltd.

20,000

414,121

SKY Perfect JSAT Holdings, Inc.

576

216,129

SMC Corp.

2,600

293,500

Sony Corp.

26,300

733,178

Stanley Electric Co. Ltd.

23,500

487,834

Sumitomo Corp.

87,100

862,622

Sumitomo Electric Industries Ltd.

39,600

493,483

Sumitomo Metal Industries Ltd.

46,000

114,745

Sumitomo Mitsui Financial Group, Inc.

21,500

920,357

Sumitomo Trust & Banking Co. Ltd.

40,000

219,004

Taiyo Nippon Sanso Corp.

23,000

221,224

Taiyo Yuden Co. Ltd.

35,000

479,072

THK Co. Ltd.

10,300

169,181

Toda Corp.

68,000

259,465

Tokai Carbon Co. Ltd.

21,000

112,536

Tokuyama Corp.

49,000

370,828

Tokyo Ohka Kogyo Co. Ltd.

10,800

231,159

Toshiba Corp.

40,000

177,571

Toyo Engineering Corp.

37,000

115,759

Toyota Motor Corp.

13,900

583,522

TOTAL JAPAN

28,699,058

Luxembourg - 0.1%

ArcelorMittal SA (Netherlands)

8,900

320,289

Mexico - 0.2%

America Movil SAB de CV Series L sponsored ADR

17,000

731,170

Netherlands - 0.5%

Akzo Nobel NV

5,500

301,758

ASML Holding NV:

(Netherlands)

8,400

219,343

(NY Shares)

9,000

234,090

Common Stocks - continued

Shares

Value

Netherlands - continued

James Hardie Industries NV unit

96,422

$ 418,510

Koninklijke Ahold NV

7,142

81,219

Koninklijke KPN NV

27,664

415,769

Koninklijke Philips Electronics NV

9,500

216,259

QIAGEN NV (a)

6,000

113,760

TOTAL NETHERLANDS

2,000,708

Netherlands Antilles - 0.4%

Schlumberger Ltd.

24,600

1,316,100

Norway - 0.2%

DnB Nor ASA (a)

39,200

340,989

Pronova BioPharma ASA (a)

16,900

52,641

Telenor ASA (a)

21,400

197,320

TOTAL NORWAY

590,950

Papua New Guinea - 0.2%

Lihir Gold Ltd. (a)

72,428

167,783

Oil Search Ltd.

114,259

538,929

TOTAL PAPUA NEW GUINEA

706,712

Singapore - 0.7%

CapitaCommercial Trust (REIT)

620,000

368,330

CapitaLand Ltd.

205,500

545,449

Keppel Corp. Ltd.

46,000

268,163

Olam International Ltd.

114,000

201,195

Raffles Education Corp. Ltd.

682,000

308,018

Singapore Exchange Ltd.

19,000

115,120

United Overseas Bank Ltd.

67,000

823,068

TOTAL SINGAPORE

2,629,343

South Africa - 0.1%

MTN Group Ltd.

18,100

298,557

Spain - 1.0%

Banco Bilbao Vizcaya Argentaria SA

32,960

539,599

Banco Santander SA

64,006

926,841

Iberdrola SA

61,400

526,812

Inditex SA

5,900

317,355

Telefonica SA sponsored ADR

18,100

1,350,984

TOTAL SPAIN

3,661,591

Sweden - 0.2%

H&M Hennes & Mauritz AB (B Shares)

9,457

562,141

Common Stocks - continued

Shares

Value

Sweden - continued

Lundin Petroleum AB (a)

21,800

$ 193,015

Telefonaktiebolaget LM Ericsson (B Shares)

14,000

137,810

TOTAL SWEDEN

892,966

Switzerland - 2.1%

Actelion Ltd. (Reg.) (a)

5,012

276,477

Credit Suisse Group (Reg.)

15,357

725,708

Nestle SA (Reg.)

39,136

1,610,631

Nobel Biocare Holding AG (Switzerland)

7,585

180,141

Noble Corp.

33,000

1,117,380

Novartis AG (Reg.)

9,750

445,473

Roche Holding AG (participation certificate)

6,772

1,067,779

Schindler Holding AG (participation certificate)

3,211

207,326

Sonova Holding AG

2,705

238,569

UBS AG:

(For. Reg.) (a)

18,352

268,665

(NY Shares) (a)

2,545

37,513

Weatherford International Ltd. (a)

66,000

1,238,160

Zurich Financial Services AG (Reg.)

2,474

486,165

TOTAL SWITZERLAND

7,899,987

United Kingdom - 4.7%

Aberdeen Asset Management PLC

90,900

189,074

Aegis Group PLC

52,681

72,612

Anglo American PLC (United Kingdom)

19,100

615,870

AstraZeneca PLC (United Kingdom)

14,800

689,460

Barclays PLC

141,500

719,347

Barclays PLC Sponsored ADR

8,000

164,320

Barratt Developments PLC (a)

18,600

61,684

Bellway PLC

20,700

254,189

BG Group PLC

51,400

857,881

Bovis Homes Group PLC

30,200

233,103

BP PLC

64,000

530,811

BP PLC sponsored ADR

11,000

550,440

British American Tobacco PLC sponsored ADR

3,000

186,570

British Land Co. PLC

37,400

271,806

British Sky Broadcasting Group PLC (BSkyB)

23,900

218,016

Burberry Group PLC

38,300

294,344

Cairn Energy PLC (a)

5,500

220,165

Capita Group PLC

15,900

177,316

Carphone Warehouse Group PLC

67,200

201,527

Debenhams PLC

90,715

134,507

Common Stocks - continued

Shares

Value

United Kingdom - continued

easyJet PLC (a)

15,200

$ 76,755

Experian PLC

50,400

415,964

HSBC Holdings PLC sponsored ADR

32,922

1,669,145

Icap PLC

19,700

149,424

Imperial Tobacco Group PLC

15,200

434,502

InterContinental Hotel Group PLC

18,800

213,268

ITV PLC

332,600

223,659

Kesa Electricals PLC

110,000

239,370

Mothercare PLC

22,600

200,116

NEXT PLC

6,200

176,610

Persimmon PLC

51,200

385,143

Prudential PLC

64,800

485,282

Reckitt Benckiser Group PLC

11,071

531,954

Redrow PLC (a)

62,800

200,922

Rio Tinto PLC (Reg.)

26,098

1,087,090

Royal Dutch Shell PLC Class A (United Kingdom)

38,000

998,009

Segro PLC

31,990

147,510

Standard Chartered PLC (United Kingdom)

33,059

784,842

Taylor Wimpey PLC

265,173

172,780

The Game Group PLC

51,100

125,498

Tomkins PLC

73,700

217,941

Vodafone Group PLC

289,000

594,272

Vodafone Group PLC sponsored ADR

25,700

528,906

Wolseley PLC (a)

17,916

400,793

Xstrata PLC

39,900

538,754

TOTAL UNITED KINGDOM

17,641,551

United States of America - 24.7%

3M Co.

6,000

423,120

Adobe Systems, Inc. (a)

2,000

64,840

Agilent Technologies, Inc.

15,000

348,300

Albemarle Corp.

5,000

148,550

Allergan, Inc.

1,900

101,517

Alpha Natural Resources, Inc. (a)

8,000

266,480

Amazon.com, Inc. (a)

10,100

866,176

American Express Co.

43,000

1,218,190

Amgen, Inc. (a)

14,000

872,340

Apple, Inc. (a)

22,500

3,676,275

Applied Micro Circuits Corp. (a)

9,390

81,224

Ardea Biosciences, Inc. (a)

5,800

112,984

Ashland, Inc.

5,000

165,700

Autoliv, Inc.

15,100

540,731

Common Stocks - continued

Shares

Value

United States of America - continued

Avnet, Inc. (a)

8,400

$ 204,960

Avon Products, Inc.

25,000

809,500

Ball Corp.

7,000

338,520

BioCryst Pharmaceuticals, Inc. (a)

8,000

73,600

Biogen Idec, Inc. (a)

1,800

85,590

BMC Software, Inc. (a)

3,044

103,587

BorgWarner, Inc.

33,600

1,115,184

C.H. Robinson Worldwide, Inc.

16,000

872,480

Cabot Oil & Gas Corp.

3,000

105,390

Capital One Financial Corp.

6,000

184,200

Carlisle Companies, Inc.

21,000

657,930

Caterpillar, Inc.

17,000

749,020

CB Richard Ellis Group, Inc. Class A (a)

14,400

156,960

Celanese Corp. Class A

63,000

1,619,100

Cerner Corp. (a)

1,000

65,080

Charles Schwab Corp.

9,000

160,830

Chattem, Inc. (a)

12,000

752,040

Chevron Corp.

5,000

347,350

Ciena Corp. (a)

5,000

55,800

CIGNA Corp.

27,000

766,800

Cintas Corp.

10,000

251,800

Cisco Systems, Inc. (a)

82,200

1,809,222

Citrix Systems, Inc. (a)

19,000

676,400

CME Group, Inc.

1,800

501,894

Coach, Inc.

4,000

118,360

CONSOL Energy, Inc.

7,000

248,710

Corn Products International, Inc.

3,000

84,000

Corning, Inc.

25,000

425,000

CSX Corp.

62,000

2,487,440

CVS Caremark Corp.

4,600

154,008

Cymer, Inc. (a)

1,000

34,210

Dell, Inc. (a)

16,000

214,080

Dendreon Corp. (a)

17,000

411,570

Dow Chemical Co.

11,000

232,870

eBay, Inc. (a)

24,000

510,000

EXCO Resources, Inc. (a)

5,000

68,700

Express Scripts, Inc. (a)

54,000

3,782,160

Exxon Mobil Corp.

47,000

3,308,330

First Solar, Inc. (a)

300

46,317

FMC Corp.

2,800

136,192

Ford Motor Co. (a)

74,000

592,000

Franklin Resources, Inc.

1,000

88,680

Common Stocks - continued

Shares

Value

United States of America - continued

Freeport-McMoRan Copper & Gold, Inc.

17,900

$ 1,079,370

General Cable Corp. (a)

10,000

387,700

Genworth Financial, Inc. Class A

215,000

1,483,500

Gilead Sciences, Inc. (a)

27,000

1,321,110

Globe Specialty Metals, Inc.

6,600

47,520

Goldman Sachs Group, Inc.

11,000

1,796,300

Google, Inc. Class A (a)

8,300

3,677,315

Harley-Davidson, Inc.

7,000

158,200

Henry Schein, Inc. (a)

2,000

102,760

Hewlett-Packard Co.

2,000

86,600

HLTH Corp. (a)

27,000

396,360

Illumina, Inc. (a)

3,000

108,420

ImmunoGen, Inc. (a)

18,500

160,765

Intel Corp.

26,000

500,500

James River Coal Co. (a)

7,000

129,990

Johnson & Johnson

47,000

2,861,830

JPMorgan Chase & Co.

81,300

3,142,245

Juniper Networks, Inc. (a)

5,000

130,650

Kansas City Southern (a)

18,000

365,580

Lam Research Corp. (a)

15,000

450,900

Las Vegas Sands Corp. (a)(e)

7,000

65,450

Life Technologies Corp. (a)

25,000

1,138,250

Lubrizol Corp.

2,000

115,860

Mako Surgical Corp. (a)

8,000

70,080

Manpower, Inc.

3,000

143,850

Marriott International, Inc. Class A

3,025

65,159

Massey Energy Co.

18,000

478,800

McGraw-Hill Companies, Inc.

3,000

94,050

McKesson Corp.

5,000

255,750

MetLife, Inc.

1,000

33,950

Micromet, Inc. (a)

25,000

160,750

Micron Technology, Inc. (a)

13,000

83,070

Microsoft Corp.

82,000

1,928,640

MKS Instruments, Inc. (a)

4,000

77,480

Molson Coors Brewing Co. Class B

4,000

180,840

Morgan Stanley

45,900

1,308,150

Occidental Petroleum Corp.

12,000

856,080

Oracle Corp.

63,000

1,394,190

Orthovita, Inc. (a)

8,000

52,080

Owens & Minor, Inc.

17,000

753,100

Owens-Illinois, Inc. (a)

12,000

407,280

Packaging Corp. of America

3,000

59,010

Common Stocks - continued

Shares

Value

United States of America - continued

Palm, Inc. (a)

6,000

$ 94,380

Petrohawk Energy Corp. (a)

11,000

267,080

Pfizer, Inc.

44,100

702,513

Philip Morris International, Inc.

42,000

1,957,200

Procter & Gamble Co.

8,000

444,080

QUALCOMM, Inc.

67,100

3,100,691

Quidel Corp. (a)

12,000

179,160

Range Resources Corp.

23,000

1,067,430

Raytheon Co. warrants 6/16/11 (a)

112

1,243

Republic Services, Inc.

2,000

53,200

Riverbed Technology, Inc. (a)

19,000

380,190

Robert Half International, Inc.

2,000

49,580

Rock-Tenn Co. Class A

2,000

89,920

Rockwell Automation, Inc.

2,000

82,820

Ross Stores, Inc.

15,000

661,350

SandRidge Energy, Inc. (a)

13,000

121,550

Sempra Energy

2,000

104,860

Skyworks Solutions, Inc. (a)

8,000

96,640

Sohu.com, Inc. (a)

6,000

367,020

Southwestern Energy Co. (a)

29,000

1,201,470

Starbucks Corp. (a)

11,000

194,700

Starwood Hotels & Resorts Worldwide, Inc.

2,000

47,220

State Street Corp.

3,900

196,170

Temple-Inland, Inc.

250,000

3,915,000

Tenneco, Inc. (a)

62,300

1,007,391

Teradyne, Inc. (a)

75,000

591,000

Terra Industries, Inc.

5,000

145,800

The Coca-Cola Co.

34,200

1,704,528

The Travelers Companies, Inc.

1,000

43,070

The Walt Disney Co.

20,000

502,400

Thermo Fisher Scientific, Inc. (a)

14,000

633,920

Tim Hortons, Inc.

2,200

59,598

TJX Companies, Inc.

49,000

1,775,270

U.S. Bancorp, Delaware

12,400

253,084

Union Pacific Corp.

87,100

5,009,992

United Therapeutics Corp. (a)

3,000

277,860

VF Corp.

1,000

64,690

Virgin Media, Inc.

18,200

190,190

Visa, Inc. Class A

26,000

1,701,960

W.W. Grainger, Inc.

1,000

89,910

Wells Fargo & Co.

10,900

266,614

Western Digital Corp. (a)

8,000

242,000

Common Stocks - continued

Shares

Value

United States of America - continued

WMS Industries, Inc. (a)

7,000

$ 253,120

Wyndham Worldwide Corp.

5,000

69,750

TOTAL UNITED STATES OF AMERICA

92,659,389

TOTAL COMMON STOCKS

(Cost $186,534,252)

209,469,666

Nonconvertible Preferred Stocks - 0.0%

 

 

 

 

Italy - 0.0%

Telecom Italia SpA (Risparmio Shares)
(Cost $186,009)

168,100

189,392

Corporate Bonds - 17.8%

 

Principal Amount (d)

 

Convertible Bonds - 0.6%

Bermuda - 0.1%

Ingersoll-Rand Global Holding Co. Ltd. 4.5% 4/15/12

$ 250,000

433,625

United States of America - 0.5%

Hertz Global Holdings, Inc. 5.25% 6/1/14

300,000

396,879

Johnson Controls, Inc. 6.5% 9/30/12

280,000

669,223

Micron Technology, Inc. 4.25% 10/15/13

140,000

200,375

Sunpower Corp. 4.75% 4/15/14

230,000

305,670

TOTAL UNITED STATES OF AMERICA

1,572,147

TOTAL CONVERTIBLE BONDS

2,005,772

Nonconvertible Bonds - 17.2%

Australia - 0.6%

Australia & New Zealand Banking Group Ltd. 0.7019% 4/28/15 (h)

200,000

183,614

Commonwealth Bank of Australia:

1.41% 3/17/15 (h)

EUR

100,000

131,110

5.5% 8/6/19

EUR

300,000

438,346

Didon Tunisia Pty. Ltd. 4.1294% 3/13/12 (f)(h)

100,000

80,000

Fairfax Media Group Finance Pty Ltd. 6.25% 6/15/12

EUR

250,000

303,767

National Australia Bank Ltd. 5.375% 12/8/14

GBP

150,000

259,013

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Australia - continued

St. George Bank Ltd. 1.522% 3/11/15 (h)

EUR

350,000

$ 464,542

WT Finance (Aust) Pty Ltd./Westfield Europe Finance PLC/WEA Finance 3.625% 6/27/12

EUR

400,000

528,585

TOTAL AUSTRALIA

2,388,977

Belgium - 0.1%

Anheuser-Busch InBev SA NV 8.625% 1/30/17

EUR

200,000

347,504

Fortis Banque SA 4.625% (Reg. S) (h)

EUR

200,000

180,445

TOTAL BELGIUM

527,949

Bermuda - 0.1%

Holcim GB Finance Ltd. 8.75% 4/24/17

GBP

250,000

457,116

MPF Corp. (Norway) AS 8.275% 9/20/11 (c)(f)(h)

300,000

3,000

Northern Offshore Ltd. 5.1294% 6/14/10 (f)(h)

100,000

64,000

TOTAL BERMUDA

524,116

Canada - 0.6%

Nexen, Inc. 7.5% 7/30/39

300,000

321,950

Ontario Province 4.2% 3/8/18

CAD

1,800,000

1,687,791

Xstrata Finance Canada Ltd. 5.25% 6/13/17

EUR

250,000

330,081

TOTAL CANADA

2,339,822

Cayman Islands - 0.2%

Hutchison Whampoa International 09 Ltd. 7.625% 4/9/19 (Reg. S)

400,000

457,554

MUFG Capital Finance 5 Ltd. 6.299% (h)

GBP

100,000

128,021

Thames Water Utilities Cayman Finance Ltd. 6.125% 2/4/13

EUR

150,000

227,449

TOTAL CAYMAN ISLANDS

813,024

Cyprus - 0.0%

Remedial Cyprus PCL 5.8513% 3/28/12 (f)(h)

100,000

46,000

Denmark - 0.0%

DONG Energy A/S 4.875% 5/7/14

EUR

100,000

147,587

France - 1.6%

BNP Paribas Public Sector SCF 3.625% 6/16/14

EUR

400,000

577,268

BNP Paribas SA:

0.8613% 11/23/15 (h)

200,000

189,248

8.667% (h)

EUR

100,000

140,558

Caisse Nationale des Caisses d' Epargne et de Prevoyance 6.117% (h)

EUR

50,000

46,195

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

France - continued

Compagnie de St. Gobain:

1.268% 4/11/12 (h)

EUR

175,000

$ 236,763

6% 5/20/13

EUR

50,000

75,483

Credit Agricole SA 5.875% 6/11/19

EUR

150,000

226,683

Credit Commercial de France 4.875% 1/15/14

EUR

250,000

374,824

Credit Logement SA:

1.877% 12/2/49 (h)

EUR

150,000

131,479

4.604% (h)

EUR

250,000

236,235

EDF SA 6.95% 1/26/39 (f)

250,000

303,935

Electricite de France:

6.125% 6/2/34

GBP

100,000

177,038

6.875% 12/12/22

GBP

250,000

480,134

GDF Suez 6.375% 1/18/21

EUR

300,000

495,594

Lafarge SA:

7.625% 5/27/14

EUR

150,000

235,059

8.75% 5/30/17

GBP

250,000

441,186

Natixis SA 1.177% 1/26/17 (h)

EUR

100,000

111,225

Societe Generale 1.435% 6/7/17 (h)

EUR

100,000

124,055

Societe Generale SCF 4% 7/7/16

EUR

450,000

654,780

TPSA Eurofinance France SA 6% 5/22/14

EUR

100,000

151,868

Veolia Environnement 6.125% 10/29/37

GBP

200,000

332,753

Vivendi 5.75% 4/4/13 (Reg. S)

300,000

297,627

TOTAL FRANCE

6,039,990

Germany - 0.3%

Bayer AG 5.625% 5/23/18

GBP

150,000

254,261

Bayerische Landesbank Girozentrale 4.5% 2/7/19 (h)

EUR

250,000

279,930

Commerzbank AG 5.625% 11/29/17 (h)

EUR

100,000

126,414

Deutsche Boerse AG 7.5% 6/13/38 (h)

EUR

200,000

271,695

TOTAL GERMANY

932,300

Hong Kong - 0.1%

Chong Hing Bank Ltd. 1.5544% 12/16/16 (h)

175,000

143,631

Dah Sing Bank Ltd. 1.4% 6/3/16 (h)

250,000

195,062

Hong Kong Mortgage Corp. Ltd. 3.5% 8/4/14 (g)

200,000

201,528

TOTAL HONG KONG

540,221

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

India - 0.1%

Export-Import Bank of India 1.0075% 6/7/12 (h)

JPY

40,000,000

$ 380,509

ICICI Bank Ltd. 1.05% 1/12/10 (Reg. S) (h)

125,000

122,875

TOTAL INDIA

503,384

Ireland - 0.3%

Allied Irish Banks PLC 5.25% 3/10/25 (h)

GBP

160,000

135,749

Ardagh Glass Group PLC 10.75% 3/1/15 pay-in-kind

EUR

305,285

300,224

Bord Gais Eireann 5.75% 6/16/14

EUR

200,000

296,441

ROSBANK (OJSC JSCB) 8% 9/30/09 (Issued by Dali Capital PLC for ROSBANK (OJSC JSCB))

RUB

3,800,000

116,025

TransCapitalInvest Ltd. 5.67% 3/5/14 (Reg. S)

400,000

372,308

TOTAL IRELAND

1,220,747

Italy - 0.4%

Banca Italease SpA 1.572% 2/2/10 (h)

EUR

400,000

554,248

IFIL Finanziaria di Partecipazioni SpA 5.375% 6/12/17

EUR

100,000

125,593

Intesa Sanpaolo SpA 6.375% 11/12/17 (h)

GBP

150,000

249,074

Telecom Italia SpA:

6.75% 3/21/13

EUR

150,000

235,361

8.25% 3/21/16

EUR

200,000

336,966

TOTAL ITALY

1,501,242

Japan - 0.2%

Fukoku Mutual Life Insurance Co. 4.5% 9/28/25 (h)

EUR

250,000

208,720

Resona Bank Ltd. 4.125% (h)

EUR

450,000

493,721

TOTAL JAPAN

702,441

Korea (South) - 0.3%

Export-Import Bank of Korea 5.875% 1/14/15

200,000

201,526

Kookmin Bank 5.875% 6/11/12

200,000

202,995

Korea Hydro & Nuclear Power Co. Ltd. 6.25% 6/17/14

300,000

312,597

Shinhan Bank 6% 6/29/12

300,000

303,631

Woori Bank 7.63% 4/14/15 (f)

250,000

241,020

TOTAL KOREA (SOUTH)

1,261,769

Luxembourg - 0.7%

ArcelorMittal SA:

6.125% 6/1/18

300,000

289,754

8.25% 6/3/13

EUR

100,000

156,413

9% 2/15/15

250,000

278,125

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Luxembourg - continued

Gaz Capital SA (Luxembourg):

6.58% 10/31/13

GBP

100,000

$ 159,256

7.51% 7/31/13 (Reg S.)

200,000

202,816

Glencore Finance (Europe) SA:

6.5% 2/27/19

GBP

200,000

273,320

7.125% 4/23/15

EUR

150,000

202,619

ICB OJSC 6.2% 9/29/15 (Issued by Or-ICB for ICB OJSC) (h)

500,000

470,000

Russian Standard Finance SA 6.825% 9/16/09

EUR

150,000

210,046

Slavinvestbank LLC 9.875% 12/21/09 (Issued by Slavinvest Finance SA for Slavinvestbank LLC)

110,000

49,500

TNK-BP Finance SA 7.5% 7/18/16

250,000

231,875

Wind Acquisition Finance SA 11.75% 7/15/17 (Reg. S)

EUR

150,000

220,201

TOTAL LUXEMBOURG

2,743,925

Netherlands - 1.8%

Allianz Finance II BV 4.75% 7/22/19

EUR

100,000

145,997

Bayer Capital Corp. BV 4.625% 9/26/14

EUR

325,000

487,296

BOATS Investments (Netherlands) BV 11% 3/31/17 pay-in-kind

EUR

322,748

155,109

CRH Finance BV 7.375% 5/28/14

EUR

300,000

464,218

Deutsche Telekom International Financial BV 6.5% 4/8/22

GBP

300,000

533,588

E.ON International Finance BV 6.75% 1/27/39

GBP

200,000

382,551

EnBW International Finance BV 6.125% 7/7/39

EUR

50,000

75,586

Eureko BV:

5.125% (h)

EUR

600,000

461,781

7.375% 6/16/14

EUR

290,000

444,821

ING Bank NV 4.75% 5/27/19

EUR

700,000

1,028,019

Invitel Holdings NN 9.246% 4/15/13 (Reg. S) (h)

EUR

240,044

87,546

Media Nusantara Citra BV 10.75% 9/12/11

148,646

84,223

Rabobank Nederland:

1.046% 7/28/15 (h)

EUR

150,000

202,145

5.875% 5/20/19

EUR

350,000

539,513

11% (f)(h)

680,000

792,200

RWE Finance BV 6.625% 1/31/19

EUR

150,000

250,157

Siemens Financieringsmaatschappij NV 6.125% 9/14/66 (h)

GBP

150,000

208,837

Volkswagen International Finance NV 5.625% 2/9/12

EUR

250,000

376,689

TOTAL NETHERLANDS

6,720,276

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Norway - 0.7%

Africa Offshore Services AS 6.6013% 6/29/12 (f)(h)

$ 100,000

$ 22,000

DDI Holding AS 9.3% 1/19/12 (k)

78,492

59,654

DnB NOR Bank ASA 4.5% 5/29/14

EUR

200,000

293,936

Kommunalbanken AS 5.125% 5/30/12

1,900,000

2,039,479

Petrolia Drilling ASA 12% 6/20/12 (f)

NOK

500,000

26,093

TOTAL NORWAY

2,441,162

Russia - 0.1%

Raspadskaya Securities Ltd. 7.5% 5/22/12

200,000

181,108

Spain - 0.4%

Banco Santander SA 3.875% 5/27/14

EUR

300,000

437,040

Mapfre SA 5.921% 7/24/37 (h)

EUR

450,000

481,535

Santander Issuances SA Unipersonal 1.302% 7/25/17 (h)

EUR

150,000

184,537

Telefonica Emisiones SAU:

5.431% 2/3/14

EUR

200,000

307,446

5.888% 1/31/14

GBP

100,000

176,339

TOTAL SPAIN

1,586,897

Sweden - 0.1%

Svenska Handelsbanken AB 0.7794% 3/15/16 (h)

200,000

173,084

Switzerland - 0.1%

UBS AG London Branch 6.625% 4/11/18

GBP

100,000

177,378

Thailand - 0.1%

True Move Co. Ltd. 10.75% 12/16/13 (Reg. S)

200,000

177,000

United Arab Emirates - 0.1%

Emirates Bank International PJSC 4.9913% 4/30/12 (h)

229,000

208,557

Nakheel Development Ltd. 3.1725% 12/14/09

150,000

127,868

TOTAL UNITED ARAB EMIRATES

336,425

United Kingdom - 3.6%

3i Group PLC 1.46% 6/8/12 (h)

EUR

400,000

436,708

Bank of Scotland 6.375% 8/16/19

GBP

400,000

518,625

Barclays Bank PLC:

0.8013% 6/27/16 (f)(h)

100,000

78,781

0.8613% 5/25/15 (h)

300,000

259,839

5.2% 7/10/14

300,000

311,125

6.75% 1/16/23 (h)

GBP

300,000

468,361

10% 5/21/21

GBP

180,000

364,826

14% (h)

GBP

100,000

209,442

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

BAT International Finance PLC 8.125% 11/15/13

$ 200,000

$ 223,884

BG Energy Capital PLC 3.375% 7/15/13

EUR

150,000

216,473

Broadgate PLC 1.9615% 10/5/25 (h)

GBP

34,250

24,033

Credit Suisse London Branch 4.75% 8/5/19

EUR

300,000

430,632

ENW Finance PLC 6.125% 7/21/21

GBP

250,000

412,167

G4S PLC 7.75% 5/13/19

GBP

100,000

179,400

HSBC Holdings PLC 6.5% 5/20/24

GBP

250,000

454,429

Imperial Tobacco Finance:

7.25% 9/15/14

EUR

150,000

238,780

8.375% 2/17/16

EUR

600,000

1,001,806

Legal & General Group PLC:

4% 6/8/25 (h)

EUR

150,000

152,153

10% 7/23/41 (h)

GBP

100,000

179,266

Lloyds TSB Bank PLC:

4.385% (h)

EUR

200,000

142,525

6.35% (h)

EUR

50,000

42,480

6.375% 6/17/16

EUR

200,000

314,780

13% (h)

GBP

300,000

466,125

Marks & Spencer PLC 7.125% 12/1/37 (f)

200,000

158,936

Nationwide Building Society:

1.455% 12/22/16 (h)

EUR

150,000

158,440

3.375% 8/17/15 (h)

EUR

455,000

572,674

Northern Rock PLC 0.6037% 10/21/10 (h)

250,000

207,920

Old Mutual PLC 4.5% 1/18/17 (h)

EUR

50,000

46,170

Prudential PLC 6.125% 12/19/31

GBP

110,000

132,182

Rexam PLC 4.375% 3/15/13

EUR

250,000

344,465

Rolls-Royce PLC 6.75% 4/30/19

GBP

100,000

177,590

Royal Bank of Scotland PLC:

0.71% 4/11/16 (h)

250,000

190,606

5.75% 5/21/14

EUR

250,000

384,348

6.934% 4/9/18

EUR

300,000

416,069

Scottish & Southern Energy PLC 6.25% 8/27/38

GBP

150,000

260,957

Scottish Widows PLC 5.125% (h)

GBP

100,000

89,123

Society of Lloyd's 6.875% 11/17/25 (h)

GBP

200,000

307,185

Tesco PLC 5.125% 2/24/15

EUR

150,000

227,596

UBS AG Jersey Branch:

0.66% 4/18/16 (h)

100,000

82,028

1.416% 11/17/15 (h)

EUR

350,000

439,925

UBS AG London Branch:

5.625% 5/19/14

EUR

300,000

448,503

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

UBS AG London Branch: - continued

6.25% 9/3/13

EUR

100,000

$ 151,934

6.375% 7/20/16

GBP

250,000

419,593

Ukrsotsbank 8% 2/22/10 (Issued by Credit Suisse First Boston International for Ukrsotsbank)

300,000

296,313

Unilever PLC 4.75% 6/16/17

GBP

100,000

166,790

Vodafone Group PLC:

0.94% 2/27/12 (h)

160,000

156,325

6.25% 1/15/16

EUR

200,000

319,678

Yorkshire Water Services Finance Ltd. 6.375% 8/19/39

GBP

100,000

171,669

TOTAL UNITED KINGDOM

13,453,659

United States of America - 4.6%

Altria Group, Inc.:

8.5% 11/10/13

210,000

242,590

9.25% 8/6/19

400,000

478,347

AT&T, Inc. 5.875% 4/28/17

GBP

200,000

350,259

BA Covered Bond Issuer 4.125% 4/5/12

EUR

1,700,000

2,416,141

Bank of America Corp.:

4.75% 5/6/19

EUR

250,000

295,682

7.375% 5/15/14

115,000

125,271

7.625% 6/1/19

285,000

309,118

BSP Finance BV 10.75% 11/1/11

100,000

43,567

Capital One Bank USA NA 8.8% 7/15/19

250,000

271,175

Citigroup, Inc. 4.25% 2/25/30 (h)

EUR

350,000

280,716

ConocoPhillips 6% 1/15/20

350,000

388,668

COX Communications, Inc. 8.375% 3/1/39 (f)

250,000

312,387

Credit Suisse First Boston New York Branch 5% 5/15/13

400,000

419,114

General Electric Capital Corp. 5.9% 5/13/14

160,000

170,161

General Electric Co. 5.25% 12/6/17

200,000

202,712

Glencore Funding LLC 6% 4/15/14 (Reg. S)

309,000

273,810

Goldman Sachs Group, Inc.:

6% 5/1/14

150,000

162,538

6.15% 4/1/18

200,000

213,713

HVB Funding Trust VIII 7.055% 3/28/49 (h)

EUR

800,000

743,981

John Deere Capital Corp. 7.5% 1/24/14

EUR

100,000

161,342

JPMorgan Chase & Co. 5.25% 5/8/13

EUR

250,000

374,574

JPMorgan Chase Bank 5.375% 9/28/16

GBP

200,000

314,927

KeyBank NA:

1.362% 11/21/11 (h)

EUR

50,000

54,693

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

KeyBank NA: - continued

1.497% 2/9/12 (h)

EUR

220,000

$ 219,614

Lehman Brothers Holdings E-Capital Trust I 3.0187% 8/19/65 (c)(h)

350,000

35

Liberty Mutual Group, Inc. 5.75% 3/15/14 (f)

250,000

211,062

Merck & Co., Inc. 5.85% 6/30/39

300,000

323,663

Merrill Lynch & Co., Inc.:

4.625% 10/2/13

EUR

260,000

367,188

6.15% 4/25/13

500,000

513,569

6.75% 5/21/13

EUR

150,000

227,165

Morgan Stanley 1.269% 7/20/12 (h)

EUR

430,000

573,880

Pemex Project Funding Master Trust (Reg. S) 5.5% 2/24/25

EUR

300,000

354,515

Pfizer, Inc.:

3.625% 6/3/13

EUR

150,000

218,799

5.35% 3/15/15

300,000

332,028

5.75% 6/3/21

EUR

150,000

236,465

6.2% 3/15/19

300,000

339,424

Plains All American Pipeline LP 8.75% 5/1/19

100,000

122,116

PPL Energy Supply LLC 6.5% 5/1/18

160,000

169,816

Roche Holdings, Inc. 6% 3/1/19 (f)

150,000

166,351

SES Global Americas Holdings GP 4.875% 7/9/14

EUR

150,000

218,903

SLM Corp. 1.477% 12/15/10 (h)

EUR

200,000

240,947

Sprint Capital Corp. 8.75% 3/15/32

325,000

279,906

Time Warner Cable, Inc.:

6.75% 6/15/39

350,000

378,617

8.25% 2/14/14

200,000

232,088

Toyota Motor Credit Corp. 5.25% 2/3/12

EUR

200,000

302,877

US Bank NA, Cincinnati 4.375% 2/28/17 (h)

EUR

450,000

567,991

Verizon Wireless Capital LLC 5.55% 2/1/14 (Reg. S)

400,000

435,018

Wal-Mart Stores, Inc. 5.625% 3/27/34

GBP

200,000

340,669

WaMu Covered Bond Program 4.375% 5/19/14

EUR

550,000

753,467

Xerox Corp. 8.25% 5/15/14

100,000

108,957

Zurich Finance USA, Inc. 6.5% 10/14/15

EUR

250,000

403,125

TOTAL UNITED STATES OF AMERICA

17,243,741

TOTAL NONCONVERTIBLE BONDS

64,724,224

TOTAL CORPORATE BONDS

(Cost $64,510,731)

66,729,996

Government Obligations - 18.5%

 

Principal
Amount (d)

Value

Canada - 0.2%

Canadian Government 5.25% 6/1/12

CAD

850,000

$ 861,527

France - 0.2%

French Republic 3.75% 10/25/19

EUR

600,000

870,001

Germany - 2.7%

German Federal Republic:

4.25% 7/4/14

EUR

250,000

385,284

4.75% 7/4/40

EUR

2,825,000

4,546,372

5.625% 1/4/28

EUR

3,060,000

5,246,035

TOTAL GERMANY

10,177,691

Greece - 0.6%

Greek Government 4.6% 9/20/40

EUR

1,750,000

2,253,823

Italy - 1.2%

Italian Republic 3.5% 6/1/14

EUR

3,000,000

4,379,608

Japan - 11.2%

Japan Government:

0.8% 12/15/09

JPY

970,000,000

10,276,299

0.9% 6/20/13

JPY

110,000,000

1,177,120

1.3% 3/20/15

JPY

1,040,000,000

11,284,896

1.7% 12/20/16

JPY

316,600,000

3,506,393

1.9% 6/20/16

JPY

855,000,000

9,607,069

2.5% 9/20/36

JPY

350,000,000

3,859,470

2.5% 9/20/37

JPY

200,000,000

2,197,670

TOTAL JAPAN

41,908,917

United States of America - 2.4%

Federal Home Loan Bank 3.625% 10/18/13

300,000

312,711

U.S. Treasury Bonds 3.5% 2/15/39

2,300,000

1,987,706

U.S. Treasury Inflation-Indexed Notes 2% 7/15/14

3,062,961

3,123,265

U.S. Treasury Notes 2.75% 2/15/19

3,750,000

3,522,938

TOTAL UNITED STATES OF AMERICA

8,946,620

TOTAL GOVERNMENT OBLIGATIONS

(Cost $63,159,243)

69,398,187

U.S. Government Agency - Mortgage Securities - 1.5%

 

Principal Amount (d)

Value

Fannie Mae - 1.5%

5% 8/1/39 (g)

$ 3,100,000

$ 3,174,645

6% 8/1/39 (g)

2,250,000

2,358,163

TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES

(Cost $5,503,490)

5,532,808

Asset-Backed Securities - 0.3%

 

Clock Finance BV Series 2007-1 Class B2, 1.479% 2/25/15 (h)

EUR

100,000

88,366

Leek Finance PLC Series 2005-15X Class BA, 1.5688% 3/21/37 (h)

GBP

100,000

37,073

Mermaid Secured Finance 2007-1 Series 2007-1:

Class C, 1.208% 1/30/40 (h)

EUR

50,000

61,998

Class D, 1.408% 1/30/40 (h)

EUR

100,000

121,146

Prime Bricks 2007-1 GmbH Series 2007-1:

Class B, 1.208% 1/30/40 (h)

EUR

50,000

63,424

Class C, 1.408% 1/30/40 (h)

EUR

50,000

61,998

Promise K 2006-1 GmbH Series I 2006-1 Class D, 1.951% 3/10/17 (h)

EUR

100,000

23,787

Spirit Issuer PLC:

Class A2, 2.2713% 12/28/11 (h)

GBP

50,000

41,768

Class A5, 5.472% 12/28/34

GBP

150,000

157,881

TS Co.mit One GmbH Series 1 Class C, 1.445% 6/29/13 (Reg. S) (h)

EUR

78,654

56,051

Volkswagen Car Lease Series 9 Class B, 0.767% 10/21/13 (h)

EUR

250,000

344,858

Whinstone Capital Management Ltd. Series 2005-1X Class B1, 1.8144% 10/25/45 (h)

GBP

70,098

9,369

TOTAL ASSET-BACKED SECURITIES

(Cost $1,502,604)

1,067,719

Collateralized Mortgage Obligations - 0.1%

 

Principal Amount (d)

Value

Private Sponsor - 0.1%

Arkle Master Issuer PLC floater Series 2006-1X Class 5M1, 1.536% 2/17/52 (h)

EUR

100,000

$ 100,419

Arran Residential Mortgages Funding No. 1 PLC Series 2006-1X Class CC, 1.248% 4/12/56 (h)

EUR

86,463

67,903

Holmes Master Issuer PLC floater Series 2007-1 Class 3C2, 1.416% 7/15/40 (h)

EUR

150,000

174,632

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $449,729)

342,954

Commercial Mortgage Securities - 0.2%

 

France - 0.0%

Paris Prime Community Real Estate Series 2006-1 Class B, 1.194% 4/22/14 (f)(h)

EUR

72,109

66,803

Ireland - 0.1%

European Property Capital 4 PLC Class C, 1.2281% 7/20/14 (h)

GBP

41,701

24,646

German Residential Asset Note Distributor PLC Series 1 Class A, 1.209% 7/20/16 (h)

EUR

175,000

178,712

Rivoli Pan Europe PLC Series 2006-1 Class B 1.645% 8/3/18 (h)

EUR

100,000

75,900

TOTAL IRELAND

279,258

Japan - 0.0%

JLOC 37 LLC (Reg. S) Series X Class B1, 0.8163% 1/15/15 (h)

JPY

13,362,000

126,615

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 1.754% 7/22/43 (h)

EUR

100,000

60,131

United Kingdom - 0.1%

Eddystone Finance PLC Series 2006-1:

Class B, 1.3281% 4/19/21 (h)

GBP

100,000

111,366

Class C, 1.5281% 4/19/21 (h)

GBP

50,000

51,582

London & Regional Debt Securitisation No. 1 PLC Class A, 1.2021% 10/15/14 (h)

GBP

100,000

131,632

Theatre Hospitals PLC:

Series 2007-1 Class C, 1.6921% 10/15/31 (h)

GBP

49,239

20,566

Series 2007-2 Class D, 1.9421% 10/15/31 (h)

GBP

98,477

28,586

TOTAL UNITED KINGDOM

343,732

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,250,852)

876,539

Preferred Securities - 0.0%

Principal Amount (d)

Value

Germany - 0.0%

BayernLB Capital Trust I 6.2032% (h)
(Cost $570,169)

$ 650,000

$ 195,239

International Equity Central Funds - 4.2%

Shares

 

Fidelity Emerging Markets Equity Central Fund (i)
(Cost $10,692,031)

100,500

15,637,792

Money Market Funds - 2.7%

 

 

 

 

Fidelity Cash Central Fund, 0.37% (j)

10,112,841

10,112,841

Fidelity Securities Lending Cash Central Fund, 0.22% (b)(j)

69,000

69,000

TOTAL MONEY MARKET FUNDS

(Cost $10,181,841)

10,181,841

TOTAL INVESTMENT PORTFOLIO - 101.1%

(Cost $344,540,951)

379,622,133

NET OTHER ASSETS - (1.1)%

(3,991,386)

NET ASSETS - 100%

$ 375,630,747

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

NOK

-

Norwegian krone

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Investment made with cash collateral received from securities on loan.

(c) Non-income producing - Issuer is in default.

(d) Principal amount is stated in United States dollars unless otherwise noted.

(e) Security or a portion of the security is on loan at period end.

(f) 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 $2,572,568 or 0.7% of net assets.

(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(h) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(i) Affiliated fund that is 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-Q and is available upon request or at the SEC's web site 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's web site or upon request.

(j) Affiliated fund that is 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.

(k) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $59,654 or 0.0% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost

DDI Holding AS 9.3% 1/19/12

3/22/07

$ 81,141

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 129,481

Fidelity Emerging Markets Equity Central Fund

176,309

Fidelity Securities Lending Cash Central Fund

35,603

Total

$ 341,393

Additional information regarding the Fund's fiscal year to date purchases and sales, including the ownership percentage, of the non Money Market Central Funds is as follows:

Fund

Value,
beginning of
period

Purchases

Sales
Proceeds

Value,
end of
period

% ownership,
end of period

Fidelity Emerging Markets Equity Central Fund

$ -

$ 11,052,049

$ 495,252

$ 15,637,792

9.4%

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

United States of America

$ 92,659,389

$ 92,659,389

$ -

$ -

Japan

28,699,058

22,580,046

6,119,012

-

United Kingdom

17,641,551

14,020,571

3,620,980

-

Australia

10,508,363

8,841,338

1,667,025

-

Canada

10,076,685

10,076,685

-

-

Switzerland

7,899,987

6,460,141

1,439,846

-

France

7,471,785

6,323,414

1,148,371

-

Germany

5,386,096

3,455,169

1,930,927

-

Hong Kong

3,936,091

3,936,091

-

-

Other

25,380,053

23,068,586

2,311,467

-

Asset Backed Securities

1,067,719

-

693,733

373,986

Collateralized Mortgage Obligations

342,954

-

342,954

-

Commercial Mortgage
Securities

876,539

-

709,190

167,349

Corporate Bonds

66,729,996

-

66,516,705

213,291

Equity Holdings

15,637,792

15,637,792

-

-

Government Obligations

69,398,187

-

69,398,187

-

Money Market Funds

10,181,841

10,181,841

-

-

Preferred Securities

195,239

-

195,239

-

U.S. Government Agency - Mortgage Securities

$ 5,532,808

$ -

$ 5,532,808

$ -

Total Investments in Securities:

$ 379,622,133

$ 217,241,063

$ 161,626,444

$ 754,626

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:

 

Beginning Balance

$ 223,425

Total Realized Gain (Loss)

(387)

Total Unrealized Gain (Loss)

(345,569)

Cost of Purchases

-

Proceeds of Sales

(8,459)

Amortization/Accretion

4,840

Transfer in/out of Level 3

880,776

Ending Balance

$ 754,626

The change in unrealized gain (loss) attributable to Level 3 securities at
July 31, 2009

$ (269,355)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations.

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $349,492,911. Net unrealized appreciation aggregated $30,129,222, of which $47,262,549 related to appreciated investment securities and $17,133,327 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. Generally Accepted Accounting Principles (GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are classified into three levels. Level 1 includes readily available unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. Level 3 includes unobservable inputs when market prices are not readily available or reliable. Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy. Valuation techniques of the Fund's major categories of assets and liabilities 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 an independent pricing service on the primary market or exchange on which they are traded. 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. Debt securities, including restricted securities, are valued based on quotations received from dealers who make markets in such securities or by independent pricing services. For corporate bonds, preferred securities and government obligations, pricing services generally utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as available dealer supplied prices. For asset backed securities, collateralized mortgage obligations, commercial mortgage securities, and U.S. government agency mortgage securities, pricing services generally utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and types as well as dealer supplied prices. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value calculation under these procedures may differ from published prices for the same securities.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly 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.

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Advisor Global Balanced Fund:
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

Class A, Class T, Class B, Class C
and Institutional Class are classes of
Fidelity® Global Balanced Fund 

1.883471.100

AGBL-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 55.8%

Shares

Value

Australia - 2.8%

AMP Ltd.

165,715

$ 778,862

ASX Ltd.

22,866

718,636

BHP Billiton Ltd.

52,834

1,667,025

Billabong International Ltd.

39,337

302,657

BlueScope Steel Ltd.

86,777

244,566

Coca-Cola Amatil Ltd.

9,336

72,846

Commonwealth Bank of Australia

26,971

965,390

Computershare Ltd.

89,690

737,326

Harvey Norman Holdings Ltd.

133,472

366,122

Lion Nathan Ltd.

29,132

285,292

Macquarie Group Ltd.

25,990

956,794

National Australia Bank Ltd.

16,014

325,840

Newcrest Mining Ltd.

15,000

376,335

QBE Insurance Group Ltd.

44,833

731,130

Rio Tinto Ltd.

7,300

368,741

Wesfarmers Ltd.

40,490

875,327

Woolworths Ltd.

27,612

629,255

WorleyParsons Ltd.

4,921

106,219

TOTAL AUSTRALIA

10,508,363

Belgium - 0.3%

Anheuser-Busch InBev SA NV

15,516

617,317

Anheuser-Busch InBev SA NV (strip VVPR) (a)

9,280

40

Fortis (a)

40,300

156,805

Gimv NV

1,900

95,185

Umicore SA

9,900

258,495

TOTAL BELGIUM

1,127,842

Bermuda - 0.1%

Bunge Ltd.

1,000

69,970

Seadrill Ltd.

7,800

125,167

Signet Jewelers Ltd. (United Kingdom)

14,200

316,477

TOTAL BERMUDA

511,614

Brazil - 0.2%

Banco do Brasil SA

6,000

75,949

Petroleo Brasileiro SA - Petrobras:

(PN) sponsored ADR (non-vtg.)

8,600

289,820

sponsored ADR

9,000

371,160

Redecard SA

2,000

29,764

TOTAL BRAZIL

766,693

Common Stocks - continued

Shares

Value

Canada - 2.7%

Agnico-Eagle Mines Ltd. (Canada)

1,500

$ 87,980

Agrium, Inc.

1,100

50,551

Alimentation Couche-Tard, Inc. Class B (sub. vtg.)

7,100

112,166

ARC Energy Trust unit

1,000

16,253

Astral Media, Inc. Class A (non-vtg.)

400

10,897

Bank of Montreal

3,300

165,467

Bank of Nova Scotia

6,500

277,050

Barrick Gold Corp.

7,900

275,860

BCE, Inc.

7,200

165,272

Bombardier, Inc. Class B (sub. vtg.)

6,000

21,274

Brookfield Asset Management, Inc. Class A

6,000

126,031

Cameco Corp.

3,000

82,424

Canadian Imperial Bank of Commerce

4,100

252,352

Canadian National Railway Co.

6,200

301,497

Canadian Natural Resources Ltd.

5,900

354,652

Canadian Oil Sands Trust

3,500

88,105

Canadian Pacific Railway Ltd.

4,400

195,628

Canadian Utilities Ltd. Class A (non-vtg.)

1,500

50,958

CGI Group, Inc. Class A (sub. vtg.) (a)

7,100

72,163

CI Financial Corp.

1,500

29,378

Corus Entertainment, Inc. Class B (non-vtg.)

400

5,476

Crescent Point Energy Corp.

3,300

107,208

Eldorado Gold Corp. (a)

3,800

38,199

Emera, Inc.

2,300

44,299

Enbridge, Inc.

4,000

154,787

EnCana Corp.

6,500

348,605

Finning International, Inc.

1,600

24,712

First Quantum Minerals Ltd.

2,200

146,517

George Weston Ltd.

700

38,146

Goldcorp, Inc.

8,600

326,726

Husky Energy, Inc.

3,000

88,272

IGM Financial, Inc.

2,300

96,048

Imperial Oil Ltd.

3,400

136,177

Intact Financial Corp.

2,800

91,822

Keyera Facilities Income Fund

5,400

95,434

Kinross Gold Corp.

8,400

165,684

Loblaw Companies Ltd.

1,200

38,093

Magna International, Inc. Class A (sub. vtg.)

2,800

141,644

Manulife Financial Corp.

17,100

415,219

Methanex Corp.

2,200

36,655

Metro, Inc. Class A (sub. vtg.)

1,000

31,327

National Bank of Canada

1,400

75,513

Common Stocks - continued

Shares

Value

Canada - continued

Nexen, Inc.

6,200

$ 128,506

Niko Resources Ltd.

600

42,270

Open Text Corp. (a)

200

7,580

Petro-Canada

4,900

202,349

Petrobank Energy & Resources Ltd. (a)

6,800

206,900

Potash Corp. of Saskatchewan, Inc.

2,500

232,886

Power Corp. of Canada (sub. vtg.)

4,700

131,924

Power Financial Corp.

1,500

43,510

Research In Motion Ltd. (a)

7,300

554,800

RioCan (REIT)

4,100

59,063

Ritchie Brothers Auctioneers, Inc.

1,500

36,000

Rogers Communications, Inc. Class B (non-vtg.)

7,200

200,024

RONA, Inc. (a)

2,200

28,037

Royal Bank of Canada

14,900

709,214

Shaw Communications, Inc. Class B

3,900

68,454

Shoppers Drug Mart Corp.

1,300

54,312

SNC-Lavalin Group, Inc.

1,400

59,075

Sun Life Financial, Inc.

3,800

129,871

Suncor Energy, Inc.

15,600

504,482

Talisman Energy, Inc.

10,400

160,728

Teck Resources Ltd. Class B (sub. vtg.)

10,200

268,409

TELUS Corp.

1,300

37,527

Thomson Reuters Corp.

1,800

58,126

Toronto-Dominion Bank

9,500

556,500

TransCanada Corp.

5,500

156,421

Yamana Gold, Inc.

6,000

57,196

TOTAL CANADA

10,076,685

Cayman Islands - 0.1%

China Dongxiang Group Co. Ltd.

370,000

281,205

Ctrip.com International Ltd. sponsored ADR

4,000

205,000

TOTAL CAYMAN ISLANDS

486,205

Chile - 0.0%

Embotelladora Andina SA sponsored ADR

5,000

91,250

China - 0.4%

Baidu.com, Inc. sponsored ADR (a)

800

278,512

BYD Co. Ltd. (H Shares) (a)

46,500

257,705

NetEase.com, Inc. sponsored ADR (a)

6,000

264,360

Tencent Holdings Ltd.

63,800

861,111

TOTAL CHINA

1,661,688

Common Stocks - continued

Shares

Value

Denmark - 0.4%

Carlsberg AS Series B

1,800

$ 124,883

Danske Bank AS (a)

17,969

374,003

Genmab AS (a)

5,000

200,004

Novo Nordisk AS:

Series B

8,600

506,134

Series B sponsored ADR

2,400

140,136

TOTAL DENMARK

1,345,160

Finland - 0.2%

Nokia Corp.

19,145

257,424

Nokia Corp. sponsored ADR

13,100

174,754

Nokian Tyres PLC

7,768

164,077

TOTAL FINLAND

596,255

France - 2.0%

Accor SA

2,951

125,967

AXA SA

20,000

422,153

BNP Paribas SA

12,035

877,370

Bouygues SA

7,100

302,415

Danone

10,683

573,181

Essilor International SA

5,700

316,021

GDF Suez

8,330

318,238

L'Oreal SA

4,300

372,679

PPR SA

4,700

523,769

Renault SA (a)

6,800

289,976

Sanofi-Aventis

11,100

726,218

Schneider Electric SA

4,800

436,058

Societe Generale Series A

4,773

306,462

Technip SA

2,600

157,194

Television Francaise 1 SA

11,200

173,516

Total SA sponsored ADR

20,600

1,146,390

Unibail-Rodamco

1,500

262,103

Vallourec SA

1,080

142,075

TOTAL FRANCE

7,471,785

Germany - 1.4%

Bayerische Motoren Werke AG (BMW)

10,900

503,807

Deutsche Bank AG

3,159

205,016

Deutsche Bank AG (NY Shares)

9,500

616,550

Deutsche Boerse AG

5,300

419,993

Deutsche Post AG

9,800

155,109

Deutsche Telekom AG (Reg.)

41,165

526,498

E.ON AG

22,300

844,158

Common Stocks - continued

Shares

Value

Germany - continued

Fresenius Medical Care AG & Co. KGaA

3,100

$ 142,357

MAN AG

2,500

172,812

Munich Re Group (Reg.)

3,300

498,976

Salzgitter AG

1,000

101,407

SAP AG

8,900

420,521

Siemens AG (Reg.)

9,800

778,892

TOTAL GERMANY

5,386,096

Hong Kong - 1.1%

BOC Hong Kong Holdings Ltd.

165,000

351,723

China Unicom (Hong Kong) Ltd. sponsored ADR

15,700

225,766

Esprit Holdings Ltd.

132,000

953,825

Hong Kong Exchange & Clearing Ltd.

24,500

462,190

Li & Fung Ltd.

152,000

448,164

Sun Hung Kai Properties Ltd.

37,000

562,888

Swire Pacific Ltd. (A Shares)

65,500

735,727

Techtronic Industries Co. Ltd.

236,000

195,808

TOTAL HONG KONG

3,936,091

Ireland - 0.9%

Allied Irish Banks PLC

5,700

14,191

Covidien PLC

40,000

1,512,400

CRH PLC

16,830

401,782

Ingersoll-Rand Co. Ltd.

47,600

1,374,688

Ryanair Holdings PLC sponsored ADR (a)

3,900

110,409

TOTAL IRELAND

3,413,470

Israel - 0.1%

Teva Pharmaceutical Industries Ltd. sponsored ADR

7,000

373,380

Italy - 0.4%

ENI SpA sponsored ADR

10,500

489,090

Fiat SpA (a)

34,600

383,660

Intesa Sanpaolo SpA

165,500

616,234

UniCredit SpA

61,366

179,734

TOTAL ITALY

1,668,718

Japan - 7.6%

Aisin Seiki Co. Ltd.

18,600

478,713

Ajinomoto Co., Inc.

47,000

451,073

Aoyama Trading Co. Ltd.

18,400

311,172

Astellas Pharma, Inc.

12,600

480,774

Bridgestone Corp.

16,200

281,501

Common Stocks - continued

Shares

Value

Japan - continued

Canon, Inc.

27,900

$ 1,034,297

Capcom Co. Ltd.

3,500

70,880

Citizen Holdings Co. Ltd.

29,100

158,095

Daicel Chemical Industries Ltd.

68,000

433,400

Dainippon Screen Manufacturing Co. Ltd. (a)

129,000

469,041

Daiwa House Industry Co. Ltd.

94,000

972,688

Denso Corp.

17,300

511,082

eAccess Ltd.

352

273,459

East Japan Railway Co.

7,900

453,409

Fuji Machine Manufacturing Co. Ltd.

8,100

100,597

Hitachi Transport System Ltd.

15,800

200,569

Honda Motor Co. Ltd.

6,600

211,098

Inpex Corp.

12

91,830

JSR Corp.

15,100

272,282

JTEKT Corp.

25,000

283,004

Kappa Create Co. Ltd.

4,600

108,181

Kobayashi Pharmaceutical Co. Ltd.

10,100

389,652

Kubota Corp.

32,000

288,172

Kuraray Co. Ltd.

52,000

589,747

Matsumotokiyoshi Holdings Co. Ltd.

5,500

123,824

Megachips Corp.

3,900

91,100

Meiji Holdings Co. Ltd. (a)

74

2,988

Mitsubishi Gas Chemical Co., Inc.

76,000

468,323

Mitsubishi UFJ Financial Group, Inc.

140,200

856,362

Mitsubishi UFJ Lease & Finance Co. Ltd.

9,040

277,095

Mitsui & Co. Ltd.

52,000

652,405

Mitsui O.S.K. Lines Ltd.

18,000

109,777

Mitsui Sumitomo Insurance Group Holdings, Inc.

28,000

719,163

Mizuho Trust & Banking Co. Ltd. (a)

74,000

95,423

Nichicon Corp.

8,100

122,857

Nippon Building Fund, Inc.

25

224,606

Nippon Electric Glass Co. Ltd.

67,000

777,571

Nippon Sheet Glass Co. Ltd.

56,000

167,509

Nippon Steel Corp.

145,000

580,858

Nippon Telegraph & Telephone Corp.

12,500

516,079

Nippon Television Network Corp.

5,530

718,356

Nissan Motor Co. Ltd.

144,000

1,045,024

Nissin Food Holdings Co. Ltd.

4,700

150,026

Nomura Holdings, Inc.

43,000

376,806

Nomura Real Estate Office Fund, Inc.

30

197,231

NSK Ltd.

53,000

287,380

NTT DoCoMo, Inc.

528

762,646

Common Stocks - continued

Shares

Value

Japan - continued

Okinawa Cellular Telephone Co.

97

$ 165,785

ORIX Corp.

5,260

333,024

Osaka Securities Exchange Co. Ltd.

67

300,972

Park24 Co. Ltd.

17,400

145,659

Rakuten, Inc.

739

474,910

Ricoh Co. Ltd.

14,000

183,786

ROHM Co. Ltd.

2,200

163,704

Sankyo Co. Ltd. (Gunma)

2,800

166,917

Sega Sammy Holdings, Inc.

23,200

306,031

Seven & i Holdings Co., Ltd.

7,600

178,332

Shinko Electric Industries Co.Ltd.

35,900

566,523

Shionogi & Co. Ltd.

20,000

414,121

SKY Perfect JSAT Holdings, Inc.

576

216,129

SMC Corp.

2,600

293,500

Sony Corp.

26,300

733,178

Stanley Electric Co. Ltd.

23,500

487,834

Sumitomo Corp.

87,100

862,622

Sumitomo Electric Industries Ltd.

39,600

493,483

Sumitomo Metal Industries Ltd.

46,000

114,745

Sumitomo Mitsui Financial Group, Inc.

21,500

920,357

Sumitomo Trust & Banking Co. Ltd.

40,000

219,004

Taiyo Nippon Sanso Corp.

23,000

221,224

Taiyo Yuden Co. Ltd.

35,000

479,072

THK Co. Ltd.

10,300

169,181

Toda Corp.

68,000

259,465

Tokai Carbon Co. Ltd.

21,000

112,536

Tokuyama Corp.

49,000

370,828

Tokyo Ohka Kogyo Co. Ltd.

10,800

231,159

Toshiba Corp.

40,000

177,571

Toyo Engineering Corp.

37,000

115,759

Toyota Motor Corp.

13,900

583,522

TOTAL JAPAN

28,699,058

Luxembourg - 0.1%

ArcelorMittal SA (Netherlands)

8,900

320,289

Mexico - 0.2%

America Movil SAB de CV Series L sponsored ADR

17,000

731,170

Netherlands - 0.5%

Akzo Nobel NV

5,500

301,758

ASML Holding NV:

(Netherlands)

8,400

219,343

(NY Shares)

9,000

234,090

Common Stocks - continued

Shares

Value

Netherlands - continued

James Hardie Industries NV unit

96,422

$ 418,510

Koninklijke Ahold NV

7,142

81,219

Koninklijke KPN NV

27,664

415,769

Koninklijke Philips Electronics NV

9,500

216,259

QIAGEN NV (a)

6,000

113,760

TOTAL NETHERLANDS

2,000,708

Netherlands Antilles - 0.4%

Schlumberger Ltd.

24,600

1,316,100

Norway - 0.2%

DnB Nor ASA (a)

39,200

340,989

Pronova BioPharma ASA (a)

16,900

52,641

Telenor ASA (a)

21,400

197,320

TOTAL NORWAY

590,950

Papua New Guinea - 0.2%

Lihir Gold Ltd. (a)

72,428

167,783

Oil Search Ltd.

114,259

538,929

TOTAL PAPUA NEW GUINEA

706,712

Singapore - 0.7%

CapitaCommercial Trust (REIT)

620,000

368,330

CapitaLand Ltd.

205,500

545,449

Keppel Corp. Ltd.

46,000

268,163

Olam International Ltd.

114,000

201,195

Raffles Education Corp. Ltd.

682,000

308,018

Singapore Exchange Ltd.

19,000

115,120

United Overseas Bank Ltd.

67,000

823,068

TOTAL SINGAPORE

2,629,343

South Africa - 0.1%

MTN Group Ltd.

18,100

298,557

Spain - 1.0%

Banco Bilbao Vizcaya Argentaria SA

32,960

539,599

Banco Santander SA

64,006

926,841

Iberdrola SA

61,400

526,812

Inditex SA

5,900

317,355

Telefonica SA sponsored ADR

18,100

1,350,984

TOTAL SPAIN

3,661,591

Sweden - 0.2%

H&M Hennes & Mauritz AB (B Shares)

9,457

562,141

Common Stocks - continued

Shares

Value

Sweden - continued

Lundin Petroleum AB (a)

21,800

$ 193,015

Telefonaktiebolaget LM Ericsson (B Shares)

14,000

137,810

TOTAL SWEDEN

892,966

Switzerland - 2.1%

Actelion Ltd. (Reg.) (a)

5,012

276,477

Credit Suisse Group (Reg.)

15,357

725,708

Nestle SA (Reg.)

39,136

1,610,631

Nobel Biocare Holding AG (Switzerland)

7,585

180,141

Noble Corp.

33,000

1,117,380

Novartis AG (Reg.)

9,750

445,473

Roche Holding AG (participation certificate)

6,772

1,067,779

Schindler Holding AG (participation certificate)

3,211

207,326

Sonova Holding AG

2,705

238,569

UBS AG:

(For. Reg.) (a)

18,352

268,665

(NY Shares) (a)

2,545

37,513

Weatherford International Ltd. (a)

66,000

1,238,160

Zurich Financial Services AG (Reg.)

2,474

486,165

TOTAL SWITZERLAND

7,899,987

United Kingdom - 4.7%

Aberdeen Asset Management PLC

90,900

189,074

Aegis Group PLC

52,681

72,612

Anglo American PLC (United Kingdom)

19,100

615,870

AstraZeneca PLC (United Kingdom)

14,800

689,460

Barclays PLC

141,500

719,347

Barclays PLC Sponsored ADR

8,000

164,320

Barratt Developments PLC (a)

18,600

61,684

Bellway PLC

20,700

254,189

BG Group PLC

51,400

857,881

Bovis Homes Group PLC

30,200

233,103

BP PLC

64,000

530,811

BP PLC sponsored ADR

11,000

550,440

British American Tobacco PLC sponsored ADR

3,000

186,570

British Land Co. PLC

37,400

271,806

British Sky Broadcasting Group PLC (BSkyB)

23,900

218,016

Burberry Group PLC

38,300

294,344

Cairn Energy PLC (a)

5,500

220,165

Capita Group PLC

15,900

177,316

Carphone Warehouse Group PLC

67,200

201,527

Debenhams PLC

90,715

134,507

Common Stocks - continued

Shares

Value

United Kingdom - continued

easyJet PLC (a)

15,200

$ 76,755

Experian PLC

50,400

415,964

HSBC Holdings PLC sponsored ADR

32,922

1,669,145

Icap PLC

19,700

149,424

Imperial Tobacco Group PLC

15,200

434,502

InterContinental Hotel Group PLC

18,800

213,268

ITV PLC

332,600

223,659

Kesa Electricals PLC

110,000

239,370

Mothercare PLC

22,600

200,116

NEXT PLC

6,200

176,610

Persimmon PLC

51,200

385,143

Prudential PLC

64,800

485,282

Reckitt Benckiser Group PLC

11,071

531,954

Redrow PLC (a)

62,800

200,922

Rio Tinto PLC (Reg.)

26,098

1,087,090

Royal Dutch Shell PLC Class A (United Kingdom)

38,000

998,009

Segro PLC

31,990

147,510

Standard Chartered PLC (United Kingdom)

33,059

784,842

Taylor Wimpey PLC

265,173

172,780

The Game Group PLC

51,100

125,498

Tomkins PLC

73,700

217,941

Vodafone Group PLC

289,000

594,272

Vodafone Group PLC sponsored ADR

25,700

528,906

Wolseley PLC (a)

17,916

400,793

Xstrata PLC

39,900

538,754

TOTAL UNITED KINGDOM

17,641,551

United States of America - 24.7%

3M Co.

6,000

423,120

Adobe Systems, Inc. (a)

2,000

64,840

Agilent Technologies, Inc.

15,000

348,300

Albemarle Corp.

5,000

148,550

Allergan, Inc.

1,900

101,517

Alpha Natural Resources, Inc. (a)

8,000

266,480

Amazon.com, Inc. (a)

10,100

866,176

American Express Co.

43,000

1,218,190

Amgen, Inc. (a)

14,000

872,340

Apple, Inc. (a)

22,500

3,676,275

Applied Micro Circuits Corp. (a)

9,390

81,224

Ardea Biosciences, Inc. (a)

5,800

112,984

Ashland, Inc.

5,000

165,700

Autoliv, Inc.

15,100

540,731

Common Stocks - continued

Shares

Value

United States of America - continued

Avnet, Inc. (a)

8,400

$ 204,960

Avon Products, Inc.

25,000

809,500

Ball Corp.

7,000

338,520

BioCryst Pharmaceuticals, Inc. (a)

8,000

73,600

Biogen Idec, Inc. (a)

1,800

85,590

BMC Software, Inc. (a)

3,044

103,587

BorgWarner, Inc.

33,600

1,115,184

C.H. Robinson Worldwide, Inc.

16,000

872,480

Cabot Oil & Gas Corp.

3,000

105,390

Capital One Financial Corp.

6,000

184,200

Carlisle Companies, Inc.

21,000

657,930

Caterpillar, Inc.

17,000

749,020

CB Richard Ellis Group, Inc. Class A (a)

14,400

156,960

Celanese Corp. Class A

63,000

1,619,100

Cerner Corp. (a)

1,000

65,080

Charles Schwab Corp.

9,000

160,830

Chattem, Inc. (a)

12,000

752,040

Chevron Corp.

5,000

347,350

Ciena Corp. (a)

5,000

55,800

CIGNA Corp.

27,000

766,800

Cintas Corp.

10,000

251,800

Cisco Systems, Inc. (a)

82,200

1,809,222

Citrix Systems, Inc. (a)

19,000

676,400

CME Group, Inc.

1,800

501,894

Coach, Inc.

4,000

118,360

CONSOL Energy, Inc.

7,000

248,710

Corn Products International, Inc.

3,000

84,000

Corning, Inc.

25,000

425,000

CSX Corp.

62,000

2,487,440

CVS Caremark Corp.

4,600

154,008

Cymer, Inc. (a)

1,000

34,210

Dell, Inc. (a)

16,000

214,080

Dendreon Corp. (a)

17,000

411,570

Dow Chemical Co.

11,000

232,870

eBay, Inc. (a)

24,000

510,000

EXCO Resources, Inc. (a)

5,000

68,700

Express Scripts, Inc. (a)

54,000

3,782,160

Exxon Mobil Corp.

47,000

3,308,330

First Solar, Inc. (a)

300

46,317

FMC Corp.

2,800

136,192

Ford Motor Co. (a)

74,000

592,000

Franklin Resources, Inc.

1,000

88,680

Common Stocks - continued

Shares

Value

United States of America - continued

Freeport-McMoRan Copper & Gold, Inc.

17,900

$ 1,079,370

General Cable Corp. (a)

10,000

387,700

Genworth Financial, Inc. Class A

215,000

1,483,500

Gilead Sciences, Inc. (a)

27,000

1,321,110

Globe Specialty Metals, Inc.

6,600

47,520

Goldman Sachs Group, Inc.

11,000

1,796,300

Google, Inc. Class A (a)

8,300

3,677,315

Harley-Davidson, Inc.

7,000

158,200

Henry Schein, Inc. (a)

2,000

102,760

Hewlett-Packard Co.

2,000

86,600

HLTH Corp. (a)

27,000

396,360

Illumina, Inc. (a)

3,000

108,420

ImmunoGen, Inc. (a)

18,500

160,765

Intel Corp.

26,000

500,500

James River Coal Co. (a)

7,000

129,990

Johnson & Johnson

47,000

2,861,830

JPMorgan Chase & Co.

81,300

3,142,245

Juniper Networks, Inc. (a)

5,000

130,650

Kansas City Southern (a)

18,000

365,580

Lam Research Corp. (a)

15,000

450,900

Las Vegas Sands Corp. (a)(e)

7,000

65,450

Life Technologies Corp. (a)

25,000

1,138,250

Lubrizol Corp.

2,000

115,860

Mako Surgical Corp. (a)

8,000

70,080

Manpower, Inc.

3,000

143,850

Marriott International, Inc. Class A

3,025

65,159

Massey Energy Co.

18,000

478,800

McGraw-Hill Companies, Inc.

3,000

94,050

McKesson Corp.

5,000

255,750

MetLife, Inc.

1,000

33,950

Micromet, Inc. (a)

25,000

160,750

Micron Technology, Inc. (a)

13,000

83,070

Microsoft Corp.

82,000

1,928,640

MKS Instruments, Inc. (a)

4,000

77,480

Molson Coors Brewing Co. Class B

4,000

180,840

Morgan Stanley

45,900

1,308,150

Occidental Petroleum Corp.

12,000

856,080

Oracle Corp.

63,000

1,394,190

Orthovita, Inc. (a)

8,000

52,080

Owens & Minor, Inc.

17,000

753,100

Owens-Illinois, Inc. (a)

12,000

407,280

Packaging Corp. of America

3,000

59,010

Common Stocks - continued

Shares

Value

United States of America - continued

Palm, Inc. (a)

6,000

$ 94,380

Petrohawk Energy Corp. (a)

11,000

267,080

Pfizer, Inc.

44,100

702,513

Philip Morris International, Inc.

42,000

1,957,200

Procter & Gamble Co.

8,000

444,080

QUALCOMM, Inc.

67,100

3,100,691

Quidel Corp. (a)

12,000

179,160

Range Resources Corp.

23,000

1,067,430

Raytheon Co. warrants 6/16/11 (a)

112

1,243

Republic Services, Inc.

2,000

53,200

Riverbed Technology, Inc. (a)

19,000

380,190

Robert Half International, Inc.

2,000

49,580

Rock-Tenn Co. Class A

2,000

89,920

Rockwell Automation, Inc.

2,000

82,820

Ross Stores, Inc.

15,000

661,350

SandRidge Energy, Inc. (a)

13,000

121,550

Sempra Energy

2,000

104,860

Skyworks Solutions, Inc. (a)

8,000

96,640

Sohu.com, Inc. (a)

6,000

367,020

Southwestern Energy Co. (a)

29,000

1,201,470

Starbucks Corp. (a)

11,000

194,700

Starwood Hotels & Resorts Worldwide, Inc.

2,000

47,220

State Street Corp.

3,900

196,170

Temple-Inland, Inc.

250,000

3,915,000

Tenneco, Inc. (a)

62,300

1,007,391

Teradyne, Inc. (a)

75,000

591,000

Terra Industries, Inc.

5,000

145,800

The Coca-Cola Co.

34,200

1,704,528

The Travelers Companies, Inc.

1,000

43,070

The Walt Disney Co.

20,000

502,400

Thermo Fisher Scientific, Inc. (a)

14,000

633,920

Tim Hortons, Inc.

2,200

59,598

TJX Companies, Inc.

49,000

1,775,270

U.S. Bancorp, Delaware

12,400

253,084

Union Pacific Corp.

87,100

5,009,992

United Therapeutics Corp. (a)

3,000

277,860

VF Corp.

1,000

64,690

Virgin Media, Inc.

18,200

190,190

Visa, Inc. Class A

26,000

1,701,960

W.W. Grainger, Inc.

1,000

89,910

Wells Fargo & Co.

10,900

266,614

Western Digital Corp. (a)

8,000

242,000

Common Stocks - continued

Shares

Value

United States of America - continued

WMS Industries, Inc. (a)

7,000

$ 253,120

Wyndham Worldwide Corp.

5,000

69,750

TOTAL UNITED STATES OF AMERICA

92,659,389

TOTAL COMMON STOCKS

(Cost $186,534,252)

209,469,666

Nonconvertible Preferred Stocks - 0.0%

 

 

 

 

Italy - 0.0%

Telecom Italia SpA (Risparmio Shares)
(Cost $186,009)

168,100

189,392

Corporate Bonds - 17.8%

 

Principal Amount (d)

 

Convertible Bonds - 0.6%

Bermuda - 0.1%

Ingersoll-Rand Global Holding Co. Ltd. 4.5% 4/15/12

$ 250,000

433,625

United States of America - 0.5%

Hertz Global Holdings, Inc. 5.25% 6/1/14

300,000

396,879

Johnson Controls, Inc. 6.5% 9/30/12

280,000

669,223

Micron Technology, Inc. 4.25% 10/15/13

140,000

200,375

Sunpower Corp. 4.75% 4/15/14

230,000

305,670

TOTAL UNITED STATES OF AMERICA

1,572,147

TOTAL CONVERTIBLE BONDS

2,005,772

Nonconvertible Bonds - 17.2%

Australia - 0.6%

Australia & New Zealand Banking Group Ltd. 0.7019% 4/28/15 (h)

200,000

183,614

Commonwealth Bank of Australia:

1.41% 3/17/15 (h)

EUR

100,000

131,110

5.5% 8/6/19

EUR

300,000

438,346

Didon Tunisia Pty. Ltd. 4.1294% 3/13/12 (f)(h)

100,000

80,000

Fairfax Media Group Finance Pty Ltd. 6.25% 6/15/12

EUR

250,000

303,767

National Australia Bank Ltd. 5.375% 12/8/14

GBP

150,000

259,013

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Australia - continued

St. George Bank Ltd. 1.522% 3/11/15 (h)

EUR

350,000

$ 464,542

WT Finance (Aust) Pty Ltd./Westfield Europe Finance PLC/WEA Finance 3.625% 6/27/12

EUR

400,000

528,585

TOTAL AUSTRALIA

2,388,977

Belgium - 0.1%

Anheuser-Busch InBev SA NV 8.625% 1/30/17

EUR

200,000

347,504

Fortis Banque SA 4.625% (Reg. S) (h)

EUR

200,000

180,445

TOTAL BELGIUM

527,949

Bermuda - 0.1%

Holcim GB Finance Ltd. 8.75% 4/24/17

GBP

250,000

457,116

MPF Corp. (Norway) AS 8.275% 9/20/11 (c)(f)(h)

300,000

3,000

Northern Offshore Ltd. 5.1294% 6/14/10 (f)(h)

100,000

64,000

TOTAL BERMUDA

524,116

Canada - 0.6%

Nexen, Inc. 7.5% 7/30/39

300,000

321,950

Ontario Province 4.2% 3/8/18

CAD

1,800,000

1,687,791

Xstrata Finance Canada Ltd. 5.25% 6/13/17

EUR

250,000

330,081

TOTAL CANADA

2,339,822

Cayman Islands - 0.2%

Hutchison Whampoa International 09 Ltd. 7.625% 4/9/19 (Reg. S)

400,000

457,554

MUFG Capital Finance 5 Ltd. 6.299% (h)

GBP

100,000

128,021

Thames Water Utilities Cayman Finance Ltd. 6.125% 2/4/13

EUR

150,000

227,449

TOTAL CAYMAN ISLANDS

813,024

Cyprus - 0.0%

Remedial Cyprus PCL 5.8513% 3/28/12 (f)(h)

100,000

46,000

Denmark - 0.0%

DONG Energy A/S 4.875% 5/7/14

EUR

100,000

147,587

France - 1.6%

BNP Paribas Public Sector SCF 3.625% 6/16/14

EUR

400,000

577,268

BNP Paribas SA:

0.8613% 11/23/15 (h)

200,000

189,248

8.667% (h)

EUR

100,000

140,558

Caisse Nationale des Caisses d' Epargne et de Prevoyance 6.117% (h)

EUR

50,000

46,195

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

France - continued

Compagnie de St. Gobain:

1.268% 4/11/12 (h)

EUR

175,000

$ 236,763

6% 5/20/13

EUR

50,000

75,483

Credit Agricole SA 5.875% 6/11/19

EUR

150,000

226,683

Credit Commercial de France 4.875% 1/15/14

EUR

250,000

374,824

Credit Logement SA:

1.877% 12/2/49 (h)

EUR

150,000

131,479

4.604% (h)

EUR

250,000

236,235

EDF SA 6.95% 1/26/39 (f)

250,000

303,935

Electricite de France:

6.125% 6/2/34

GBP

100,000

177,038

6.875% 12/12/22

GBP

250,000

480,134

GDF Suez 6.375% 1/18/21

EUR

300,000

495,594

Lafarge SA:

7.625% 5/27/14

EUR

150,000

235,059

8.75% 5/30/17

GBP

250,000

441,186

Natixis SA 1.177% 1/26/17 (h)

EUR

100,000

111,225

Societe Generale 1.435% 6/7/17 (h)

EUR

100,000

124,055

Societe Generale SCF 4% 7/7/16

EUR

450,000

654,780

TPSA Eurofinance France SA 6% 5/22/14

EUR

100,000

151,868

Veolia Environnement 6.125% 10/29/37

GBP

200,000

332,753

Vivendi 5.75% 4/4/13 (Reg. S)

300,000

297,627

TOTAL FRANCE

6,039,990

Germany - 0.3%

Bayer AG 5.625% 5/23/18

GBP

150,000

254,261

Bayerische Landesbank Girozentrale 4.5% 2/7/19 (h)

EUR

250,000

279,930

Commerzbank AG 5.625% 11/29/17 (h)

EUR

100,000

126,414

Deutsche Boerse AG 7.5% 6/13/38 (h)

EUR

200,000

271,695

TOTAL GERMANY

932,300

Hong Kong - 0.1%

Chong Hing Bank Ltd. 1.5544% 12/16/16 (h)

175,000

143,631

Dah Sing Bank Ltd. 1.4% 6/3/16 (h)

250,000

195,062

Hong Kong Mortgage Corp. Ltd. 3.5% 8/4/14 (g)

200,000

201,528

TOTAL HONG KONG

540,221

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

India - 0.1%

Export-Import Bank of India 1.0075% 6/7/12 (h)

JPY

40,000,000

$ 380,509

ICICI Bank Ltd. 1.05% 1/12/10 (Reg. S) (h)

125,000

122,875

TOTAL INDIA

503,384

Ireland - 0.3%

Allied Irish Banks PLC 5.25% 3/10/25 (h)

GBP

160,000

135,749

Ardagh Glass Group PLC 10.75% 3/1/15 pay-in-kind

EUR

305,285

300,224

Bord Gais Eireann 5.75% 6/16/14

EUR

200,000

296,441

ROSBANK (OJSC JSCB) 8% 9/30/09 (Issued by Dali Capital PLC for ROSBANK (OJSC JSCB))

RUB

3,800,000

116,025

TransCapitalInvest Ltd. 5.67% 3/5/14 (Reg. S)

400,000

372,308

TOTAL IRELAND

1,220,747

Italy - 0.4%

Banca Italease SpA 1.572% 2/2/10 (h)

EUR

400,000

554,248

IFIL Finanziaria di Partecipazioni SpA 5.375% 6/12/17

EUR

100,000

125,593

Intesa Sanpaolo SpA 6.375% 11/12/17 (h)

GBP

150,000

249,074

Telecom Italia SpA:

6.75% 3/21/13

EUR

150,000

235,361

8.25% 3/21/16

EUR

200,000

336,966

TOTAL ITALY

1,501,242

Japan - 0.2%

Fukoku Mutual Life Insurance Co. 4.5% 9/28/25 (h)

EUR

250,000

208,720

Resona Bank Ltd. 4.125% (h)

EUR

450,000

493,721

TOTAL JAPAN

702,441

Korea (South) - 0.3%

Export-Import Bank of Korea 5.875% 1/14/15

200,000

201,526

Kookmin Bank 5.875% 6/11/12

200,000

202,995

Korea Hydro & Nuclear Power Co. Ltd. 6.25% 6/17/14

300,000

312,597

Shinhan Bank 6% 6/29/12

300,000

303,631

Woori Bank 7.63% 4/14/15 (f)

250,000

241,020

TOTAL KOREA (SOUTH)

1,261,769

Luxembourg - 0.7%

ArcelorMittal SA:

6.125% 6/1/18

300,000

289,754

8.25% 6/3/13

EUR

100,000

156,413

9% 2/15/15

250,000

278,125

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Luxembourg - continued

Gaz Capital SA (Luxembourg):

6.58% 10/31/13

GBP

100,000

$ 159,256

7.51% 7/31/13 (Reg S.)

200,000

202,816

Glencore Finance (Europe) SA:

6.5% 2/27/19

GBP

200,000

273,320

7.125% 4/23/15

EUR

150,000

202,619

ICB OJSC 6.2% 9/29/15 (Issued by Or-ICB for ICB OJSC) (h)

500,000

470,000

Russian Standard Finance SA 6.825% 9/16/09

EUR

150,000

210,046

Slavinvestbank LLC 9.875% 12/21/09 (Issued by Slavinvest Finance SA for Slavinvestbank LLC)

110,000

49,500

TNK-BP Finance SA 7.5% 7/18/16

250,000

231,875

Wind Acquisition Finance SA 11.75% 7/15/17 (Reg. S)

EUR

150,000

220,201

TOTAL LUXEMBOURG

2,743,925

Netherlands - 1.8%

Allianz Finance II BV 4.75% 7/22/19

EUR

100,000

145,997

Bayer Capital Corp. BV 4.625% 9/26/14

EUR

325,000

487,296

BOATS Investments (Netherlands) BV 11% 3/31/17 pay-in-kind

EUR

322,748

155,109

CRH Finance BV 7.375% 5/28/14

EUR

300,000

464,218

Deutsche Telekom International Financial BV 6.5% 4/8/22

GBP

300,000

533,588

E.ON International Finance BV 6.75% 1/27/39

GBP

200,000

382,551

EnBW International Finance BV 6.125% 7/7/39

EUR

50,000

75,586

Eureko BV:

5.125% (h)

EUR

600,000

461,781

7.375% 6/16/14

EUR

290,000

444,821

ING Bank NV 4.75% 5/27/19

EUR

700,000

1,028,019

Invitel Holdings NN 9.246% 4/15/13 (Reg. S) (h)

EUR

240,044

87,546

Media Nusantara Citra BV 10.75% 9/12/11

148,646

84,223

Rabobank Nederland:

1.046% 7/28/15 (h)

EUR

150,000

202,145

5.875% 5/20/19

EUR

350,000

539,513

11% (f)(h)

680,000

792,200

RWE Finance BV 6.625% 1/31/19

EUR

150,000

250,157

Siemens Financieringsmaatschappij NV 6.125% 9/14/66 (h)

GBP

150,000

208,837

Volkswagen International Finance NV 5.625% 2/9/12

EUR

250,000

376,689

TOTAL NETHERLANDS

6,720,276

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Norway - 0.7%

Africa Offshore Services AS 6.6013% 6/29/12 (f)(h)

$ 100,000

$ 22,000

DDI Holding AS 9.3% 1/19/12 (k)

78,492

59,654

DnB NOR Bank ASA 4.5% 5/29/14

EUR

200,000

293,936

Kommunalbanken AS 5.125% 5/30/12

1,900,000

2,039,479

Petrolia Drilling ASA 12% 6/20/12 (f)

NOK

500,000

26,093

TOTAL NORWAY

2,441,162

Russia - 0.1%

Raspadskaya Securities Ltd. 7.5% 5/22/12

200,000

181,108

Spain - 0.4%

Banco Santander SA 3.875% 5/27/14

EUR

300,000

437,040

Mapfre SA 5.921% 7/24/37 (h)

EUR

450,000

481,535

Santander Issuances SA Unipersonal 1.302% 7/25/17 (h)

EUR

150,000

184,537

Telefonica Emisiones SAU:

5.431% 2/3/14

EUR

200,000

307,446

5.888% 1/31/14

GBP

100,000

176,339

TOTAL SPAIN

1,586,897

Sweden - 0.1%

Svenska Handelsbanken AB 0.7794% 3/15/16 (h)

200,000

173,084

Switzerland - 0.1%

UBS AG London Branch 6.625% 4/11/18

GBP

100,000

177,378

Thailand - 0.1%

True Move Co. Ltd. 10.75% 12/16/13 (Reg. S)

200,000

177,000

United Arab Emirates - 0.1%

Emirates Bank International PJSC 4.9913% 4/30/12 (h)

229,000

208,557

Nakheel Development Ltd. 3.1725% 12/14/09

150,000

127,868

TOTAL UNITED ARAB EMIRATES

336,425

United Kingdom - 3.6%

3i Group PLC 1.46% 6/8/12 (h)

EUR

400,000

436,708

Bank of Scotland 6.375% 8/16/19

GBP

400,000

518,625

Barclays Bank PLC:

0.8013% 6/27/16 (f)(h)

100,000

78,781

0.8613% 5/25/15 (h)

300,000

259,839

5.2% 7/10/14

300,000

311,125

6.75% 1/16/23 (h)

GBP

300,000

468,361

10% 5/21/21

GBP

180,000

364,826

14% (h)

GBP

100,000

209,442

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

BAT International Finance PLC 8.125% 11/15/13

$ 200,000

$ 223,884

BG Energy Capital PLC 3.375% 7/15/13

EUR

150,000

216,473

Broadgate PLC 1.9615% 10/5/25 (h)

GBP

34,250

24,033

Credit Suisse London Branch 4.75% 8/5/19

EUR

300,000

430,632

ENW Finance PLC 6.125% 7/21/21

GBP

250,000

412,167

G4S PLC 7.75% 5/13/19

GBP

100,000

179,400

HSBC Holdings PLC 6.5% 5/20/24

GBP

250,000

454,429

Imperial Tobacco Finance:

7.25% 9/15/14

EUR

150,000

238,780

8.375% 2/17/16

EUR

600,000

1,001,806

Legal & General Group PLC:

4% 6/8/25 (h)

EUR

150,000

152,153

10% 7/23/41 (h)

GBP

100,000

179,266

Lloyds TSB Bank PLC:

4.385% (h)

EUR

200,000

142,525

6.35% (h)

EUR

50,000

42,480

6.375% 6/17/16

EUR

200,000

314,780

13% (h)

GBP

300,000

466,125

Marks & Spencer PLC 7.125% 12/1/37 (f)

200,000

158,936

Nationwide Building Society:

1.455% 12/22/16 (h)

EUR

150,000

158,440

3.375% 8/17/15 (h)

EUR

455,000

572,674

Northern Rock PLC 0.6037% 10/21/10 (h)

250,000

207,920

Old Mutual PLC 4.5% 1/18/17 (h)

EUR

50,000

46,170

Prudential PLC 6.125% 12/19/31

GBP

110,000

132,182

Rexam PLC 4.375% 3/15/13

EUR

250,000

344,465

Rolls-Royce PLC 6.75% 4/30/19

GBP

100,000

177,590

Royal Bank of Scotland PLC:

0.71% 4/11/16 (h)

250,000

190,606

5.75% 5/21/14

EUR

250,000

384,348

6.934% 4/9/18

EUR

300,000

416,069

Scottish & Southern Energy PLC 6.25% 8/27/38

GBP

150,000

260,957

Scottish Widows PLC 5.125% (h)

GBP

100,000

89,123

Society of Lloyd's 6.875% 11/17/25 (h)

GBP

200,000

307,185

Tesco PLC 5.125% 2/24/15

EUR

150,000

227,596

UBS AG Jersey Branch:

0.66% 4/18/16 (h)

100,000

82,028

1.416% 11/17/15 (h)

EUR

350,000

439,925

UBS AG London Branch:

5.625% 5/19/14

EUR

300,000

448,503

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

UBS AG London Branch: - continued

6.25% 9/3/13

EUR

100,000

$ 151,934

6.375% 7/20/16

GBP

250,000

419,593

Ukrsotsbank 8% 2/22/10 (Issued by Credit Suisse First Boston International for Ukrsotsbank)

300,000

296,313

Unilever PLC 4.75% 6/16/17

GBP

100,000

166,790

Vodafone Group PLC:

0.94% 2/27/12 (h)

160,000

156,325

6.25% 1/15/16

EUR

200,000

319,678

Yorkshire Water Services Finance Ltd. 6.375% 8/19/39

GBP

100,000

171,669

TOTAL UNITED KINGDOM

13,453,659

United States of America - 4.6%

Altria Group, Inc.:

8.5% 11/10/13

210,000

242,590

9.25% 8/6/19

400,000

478,347

AT&T, Inc. 5.875% 4/28/17

GBP

200,000

350,259

BA Covered Bond Issuer 4.125% 4/5/12

EUR

1,700,000

2,416,141

Bank of America Corp.:

4.75% 5/6/19

EUR

250,000

295,682

7.375% 5/15/14

115,000

125,271

7.625% 6/1/19

285,000

309,118

BSP Finance BV 10.75% 11/1/11

100,000

43,567

Capital One Bank USA NA 8.8% 7/15/19

250,000

271,175

Citigroup, Inc. 4.25% 2/25/30 (h)

EUR

350,000

280,716

ConocoPhillips 6% 1/15/20

350,000

388,668

COX Communications, Inc. 8.375% 3/1/39 (f)

250,000

312,387

Credit Suisse First Boston New York Branch 5% 5/15/13

400,000

419,114

General Electric Capital Corp. 5.9% 5/13/14

160,000

170,161

General Electric Co. 5.25% 12/6/17

200,000

202,712

Glencore Funding LLC 6% 4/15/14 (Reg. S)

309,000

273,810

Goldman Sachs Group, Inc.:

6% 5/1/14

150,000

162,538

6.15% 4/1/18

200,000

213,713

HVB Funding Trust VIII 7.055% 3/28/49 (h)

EUR

800,000

743,981

John Deere Capital Corp. 7.5% 1/24/14

EUR

100,000

161,342

JPMorgan Chase & Co. 5.25% 5/8/13

EUR

250,000

374,574

JPMorgan Chase Bank 5.375% 9/28/16

GBP

200,000

314,927

KeyBank NA:

1.362% 11/21/11 (h)

EUR

50,000

54,693

Corporate Bonds - continued

 

Principal Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

KeyBank NA: - continued

1.497% 2/9/12 (h)

EUR

220,000

$ 219,614

Lehman Brothers Holdings E-Capital Trust I 3.0187% 8/19/65 (c)(h)

350,000

35

Liberty Mutual Group, Inc. 5.75% 3/15/14 (f)

250,000

211,062

Merck & Co., Inc. 5.85% 6/30/39

300,000

323,663

Merrill Lynch & Co., Inc.:

4.625% 10/2/13

EUR

260,000

367,188

6.15% 4/25/13

500,000

513,569

6.75% 5/21/13

EUR

150,000

227,165

Morgan Stanley 1.269% 7/20/12 (h)

EUR

430,000

573,880

Pemex Project Funding Master Trust (Reg. S) 5.5% 2/24/25

EUR

300,000

354,515

Pfizer, Inc.:

3.625% 6/3/13

EUR

150,000

218,799

5.35% 3/15/15

300,000

332,028

5.75% 6/3/21

EUR

150,000

236,465

6.2% 3/15/19

300,000

339,424

Plains All American Pipeline LP 8.75% 5/1/19

100,000

122,116

PPL Energy Supply LLC 6.5% 5/1/18

160,000

169,816

Roche Holdings, Inc. 6% 3/1/19 (f)

150,000

166,351

SES Global Americas Holdings GP 4.875% 7/9/14

EUR

150,000

218,903

SLM Corp. 1.477% 12/15/10 (h)

EUR

200,000

240,947

Sprint Capital Corp. 8.75% 3/15/32

325,000

279,906

Time Warner Cable, Inc.:

6.75% 6/15/39

350,000

378,617

8.25% 2/14/14

200,000

232,088

Toyota Motor Credit Corp. 5.25% 2/3/12

EUR

200,000

302,877

US Bank NA, Cincinnati 4.375% 2/28/17 (h)

EUR

450,000

567,991

Verizon Wireless Capital LLC 5.55% 2/1/14 (Reg. S)

400,000

435,018

Wal-Mart Stores, Inc. 5.625% 3/27/34

GBP

200,000

340,669

WaMu Covered Bond Program 4.375% 5/19/14

EUR

550,000

753,467

Xerox Corp. 8.25% 5/15/14

100,000

108,957

Zurich Finance USA, Inc. 6.5% 10/14/15

EUR

250,000

403,125

TOTAL UNITED STATES OF AMERICA

17,243,741

TOTAL NONCONVERTIBLE BONDS

64,724,224

TOTAL CORPORATE BONDS

(Cost $64,510,731)

66,729,996

Government Obligations - 18.5%

 

Principal
Amount (d)

Value

Canada - 0.2%

Canadian Government 5.25% 6/1/12

CAD

850,000

$ 861,527

France - 0.2%

French Republic 3.75% 10/25/19

EUR

600,000

870,001

Germany - 2.7%

German Federal Republic:

4.25% 7/4/14

EUR

250,000

385,284

4.75% 7/4/40

EUR

2,825,000

4,546,372

5.625% 1/4/28

EUR

3,060,000

5,246,035

TOTAL GERMANY

10,177,691

Greece - 0.6%

Greek Government 4.6% 9/20/40

EUR

1,750,000

2,253,823

Italy - 1.2%

Italian Republic 3.5% 6/1/14

EUR

3,000,000

4,379,608

Japan - 11.2%

Japan Government:

0.8% 12/15/09

JPY

970,000,000

10,276,299

0.9% 6/20/13

JPY

110,000,000

1,177,120

1.3% 3/20/15

JPY

1,040,000,000

11,284,896

1.7% 12/20/16

JPY

316,600,000

3,506,393

1.9% 6/20/16

JPY

855,000,000

9,607,069

2.5% 9/20/36

JPY

350,000,000

3,859,470

2.5% 9/20/37

JPY

200,000,000

2,197,670

TOTAL JAPAN

41,908,917

United States of America - 2.4%

Federal Home Loan Bank 3.625% 10/18/13

300,000

312,711

U.S. Treasury Bonds 3.5% 2/15/39

2,300,000

1,987,706

U.S. Treasury Inflation-Indexed Notes 2% 7/15/14

3,062,961

3,123,265

U.S. Treasury Notes 2.75% 2/15/19

3,750,000

3,522,938

TOTAL UNITED STATES OF AMERICA

8,946,620

TOTAL GOVERNMENT OBLIGATIONS

(Cost $63,159,243)

69,398,187

U.S. Government Agency - Mortgage Securities - 1.5%

 

Principal Amount (d)

Value

Fannie Mae - 1.5%

5% 8/1/39 (g)

$ 3,100,000

$ 3,174,645

6% 8/1/39 (g)

2,250,000

2,358,163

TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES

(Cost $5,503,490)

5,532,808

Asset-Backed Securities - 0.3%

 

Clock Finance BV Series 2007-1 Class B2, 1.479% 2/25/15 (h)

EUR

100,000

88,366

Leek Finance PLC Series 2005-15X Class BA, 1.5688% 3/21/37 (h)

GBP

100,000

37,073

Mermaid Secured Finance 2007-1 Series 2007-1:

Class C, 1.208% 1/30/40 (h)

EUR

50,000

61,998

Class D, 1.408% 1/30/40 (h)

EUR

100,000

121,146

Prime Bricks 2007-1 GmbH Series 2007-1:

Class B, 1.208% 1/30/40 (h)

EUR

50,000

63,424

Class C, 1.408% 1/30/40 (h)

EUR

50,000

61,998

Promise K 2006-1 GmbH Series I 2006-1 Class D, 1.951% 3/10/17 (h)

EUR

100,000

23,787

Spirit Issuer PLC:

Class A2, 2.2713% 12/28/11 (h)

GBP

50,000

41,768

Class A5, 5.472% 12/28/34

GBP

150,000

157,881

TS Co.mit One GmbH Series 1 Class C, 1.445% 6/29/13 (Reg. S) (h)

EUR

78,654

56,051

Volkswagen Car Lease Series 9 Class B, 0.767% 10/21/13 (h)

EUR

250,000

344,858

Whinstone Capital Management Ltd. Series 2005-1X Class B1, 1.8144% 10/25/45 (h)

GBP

70,098

9,369

TOTAL ASSET-BACKED SECURITIES

(Cost $1,502,604)

1,067,719

Collateralized Mortgage Obligations - 0.1%

 

Principal Amount (d)

Value

Private Sponsor - 0.1%

Arkle Master Issuer PLC floater Series 2006-1X Class 5M1, 1.536% 2/17/52 (h)

EUR

100,000

$ 100,419

Arran Residential Mortgages Funding No. 1 PLC Series 2006-1X Class CC, 1.248% 4/12/56 (h)

EUR

86,463

67,903

Holmes Master Issuer PLC floater Series 2007-1 Class 3C2, 1.416% 7/15/40 (h)

EUR

150,000

174,632

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $449,729)

342,954

Commercial Mortgage Securities - 0.2%

 

France - 0.0%

Paris Prime Community Real Estate Series 2006-1 Class B, 1.194% 4/22/14 (f)(h)

EUR

72,109

66,803

Ireland - 0.1%

European Property Capital 4 PLC Class C, 1.2281% 7/20/14 (h)

GBP

41,701

24,646

German Residential Asset Note Distributor PLC Series 1 Class A, 1.209% 7/20/16 (h)

EUR

175,000

178,712

Rivoli Pan Europe PLC Series 2006-1 Class B 1.645% 8/3/18 (h)

EUR

100,000

75,900

TOTAL IRELAND

279,258

Japan - 0.0%

JLOC 37 LLC (Reg. S) Series X Class B1, 0.8163% 1/15/15 (h)

JPY

13,362,000

126,615

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 1.754% 7/22/43 (h)

EUR

100,000

60,131

United Kingdom - 0.1%

Eddystone Finance PLC Series 2006-1:

Class B, 1.3281% 4/19/21 (h)

GBP

100,000

111,366

Class C, 1.5281% 4/19/21 (h)

GBP

50,000

51,582

London & Regional Debt Securitisation No. 1 PLC Class A, 1.2021% 10/15/14 (h)

GBP

100,000

131,632

Theatre Hospitals PLC:

Series 2007-1 Class C, 1.6921% 10/15/31 (h)

GBP

49,239

20,566

Series 2007-2 Class D, 1.9421% 10/15/31 (h)

GBP

98,477

28,586

TOTAL UNITED KINGDOM

343,732

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,250,852)

876,539

Preferred Securities - 0.0%

Principal Amount (d)

Value

Germany - 0.0%

BayernLB Capital Trust I 6.2032% (h)
(Cost $570,169)

$ 650,000

$ 195,239

International Equity Central Funds - 4.2%

Shares

 

Fidelity Emerging Markets Equity Central Fund (i)
(Cost $10,692,031)

100,500

15,637,792

Money Market Funds - 2.7%

 

 

 

 

Fidelity Cash Central Fund, 0.37% (j)

10,112,841

10,112,841

Fidelity Securities Lending Cash Central Fund, 0.22% (b)(j)

69,000

69,000

TOTAL MONEY MARKET FUNDS

(Cost $10,181,841)

10,181,841

TOTAL INVESTMENT PORTFOLIO - 101.1%

(Cost $344,540,951)

379,622,133

NET OTHER ASSETS - (1.1)%

(3,991,386)

NET ASSETS - 100%

$ 375,630,747

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

NOK

-

Norwegian krone

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Investment made with cash collateral received from securities on loan.

(c) Non-income producing - Issuer is in default.

(d) Principal amount is stated in United States dollars unless otherwise noted.

(e) Security or a portion of the security is on loan at period end.

(f) 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 $2,572,568 or 0.7% of net assets.

(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(h) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(i) Affiliated fund that is 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-Q and is available upon request or at the SEC's web site 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's web site or upon request.

(j) Affiliated fund that is 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.

(k) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $59,654 or 0.0% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost

DDI Holding AS 9.3% 1/19/12

3/22/07

$ 81,141

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 129,481

Fidelity Emerging Markets Equity Central Fund

176,309

Fidelity Securities Lending Cash Central Fund

35,603

Total

$ 341,393

Additional information regarding the Fund's fiscal year to date purchases and sales, including the ownership percentage, of the non Money Market Central Funds is as follows:

Fund

Value,
beginning of
period

Purchases

Sales
Proceeds

Value,
end of
period

% ownership,
end of period

Fidelity Emerging Markets Equity Central Fund

$ -

$ 11,052,049

$ 495,252

$ 15,637,792

9.4%

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

United States of America

$ 92,659,389

$ 92,659,389

$ -

$ -

Japan

28,699,058

22,580,046

6,119,012

-

United Kingdom

17,641,551

14,020,571

3,620,980

-

Australia

10,508,363

8,841,338

1,667,025

-

Canada

10,076,685

10,076,685

-

-

Switzerland

7,899,987

6,460,141

1,439,846

-

France

7,471,785

6,323,414

1,148,371

-

Germany

5,386,096

3,455,169

1,930,927

-

Hong Kong

3,936,091

3,936,091

-

-

Other

25,380,053

23,068,586

2,311,467

-

Asset Backed Securities

1,067,719

-

693,733

373,986

Collateralized Mortgage Obligations

342,954

-

342,954

-

Commercial Mortgage
Securities

876,539

-

709,190

167,349

Corporate Bonds

66,729,996

-

66,516,705

213,291

Equity Holdings

15,637,792

15,637,792

-

-

Government Obligations

69,398,187

-

69,398,187

-

Money Market Funds

10,181,841

10,181,841

-

-

Preferred Securities

195,239

-

195,239

-

U.S. Government Agency - Mortgage Securities

$ 5,532,808

$ -

$ 5,532,808

$ -

Total Investments in Securities:

$ 379,622,133

$ 217,241,063

$ 161,626,444

$ 754,626

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:

 

Beginning Balance

$ 223,425

Total Realized Gain (Loss)

(387)

Total Unrealized Gain (Loss)

(345,569)

Cost of Purchases

-

Proceeds of Sales

(8,459)

Amortization/Accretion

4,840

Transfer in/out of Level 3

880,776

Ending Balance

$ 754,626

The change in unrealized gain (loss) attributable to Level 3 securities at
July 31, 2009

$ (269,355)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations.

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $349,492,911. Net unrealized appreciation aggregated $30,129,222, of which $47,262,549 related to appreciated investment securities and $17,133,327 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. Generally Accepted Accounting Principles (GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are classified into three levels. Level 1 includes readily available unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. Level 3 includes unobservable inputs when market prices are not readily available or reliable. Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy. Valuation techniques of the Fund's major categories of assets and liabilities 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 an independent pricing service on the primary market or exchange on which they are traded. 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. Debt securities, including restricted securities, are valued based on quotations received from dealers who make markets in such securities or by independent pricing services. For corporate bonds, preferred securities and government obligations, pricing services generally utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as available dealer supplied prices. For asset backed securities, collateralized mortgage obligations, commercial mortgage securities, and U.S. government agency mortgage securities, pricing services generally utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and types as well as dealer supplied prices. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value calculation under these procedures may differ from published prices for the same securities.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly 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 visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of 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.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Charles Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Charles Street Trust

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

September 29, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

September 29, 2009

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

September 29, 2009