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)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

245 Summer St.

Boston, Massachusetts 02210
(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, 2014

Item 1. Schedule of Investments

Quarterly Holdings Report

for

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

July 31, 2014

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

1.883471.105
AGBL-QTLY-0914

Investments July 31, 2014 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 56.9%

Shares

Value

Australia - 2.4%

Ainsworth Game Technology Ltd.

78,115

$ 271,482

AMP Ltd.

203,723

1,028,372

Asciano Ltd.

82,376

457,269

Australia & New Zealand Banking Group Ltd.

37,135

1,159,415

BHP Billiton Ltd.

50,414

1,790,022

Cabcharge Australia Ltd.

116,819

496,578

Carsales.com Ltd.

18,965

200,272

Coca-Cola Amatil Ltd.

33,181

282,976

Commonwealth Bank of Australia

36,570

2,820,636

Computershare Ltd.

84,802

1,023,376

CSL Ltd.

18,430

1,148,254

John Fairfax Holdings Ltd.

529,368

416,662

Leighton Holdings Ltd.

15,357

312,327

Lend Lease Group unit

51,501

642,691

Macquarie CountryWide Trust

112,447

416,466

Macquarie Group Ltd.

15,639

836,993

Pact Group Holdings Ltd.

104,519

357,959

QBE Insurance Group Ltd.

47,614

481,265

Sims Metal Management Ltd. (a)

73,704

807,702

Suncorp Group Ltd. (a)

70,447

926,242

Sunland Group Ltd.

130,921

198,940

Super Cheap Auto Group Ltd.

28,837

251,104

Sydney Airport unit

204,827

812,524

TOTAL AUSTRALIA

17,139,527

Austria - 0.1%

Andritz AG

11,500

623,663

Bailiwick of Jersey - 0.1%

Petrofac Ltd.

18,400

340,780

Belgium - 0.5%

Anheuser-Busch InBev SA NV

18,600

2,007,549

KBC Groupe SA (a)

18,784

1,022,961

UCB SA

8,000

735,299

TOTAL BELGIUM

3,765,809

Bermuda - 0.3%

Biosensors International Group Ltd.

653,000

443,292

Hankore Environment Tech Group L (a)

355,300

248,594

Luk Fook Holdings International Ltd.

52,000

161,505

Nam Cheong Ltd.

1,452,000

533,461

Common Stocks - continued

Shares

Value

Bermuda - continued

Nine Dragons Paper (Holdings) Ltd.

474,000

$ 390,005

Pacific Basin Shipping Ltd.

319,000

192,154

TOTAL BERMUDA

1,969,011

British Virgin Islands - 0.1%

Mail.Ru Group Ltd. GDR (Reg. S) (a)

11,331

339,363

Canada - 3.6%

Agnico Eagle Mines Ltd. (Canada)

9,300

345,781

Agrium, Inc.

1,200

109,396

Aimia, Inc.

7,000

123,071

Air Canada Class A (a)

15,000

131,655

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

19,200

525,453

ARC Resources Ltd.

4,000

110,203

ATS Automation Tooling System, Inc. (a)

9,000

122,410

Bank of Montreal (e)

10,900

812,439

Bank of Nova Scotia

17,200

1,167,489

Barrick Gold Corp.

12,300

222,231

BCE, Inc.

10,800

489,113

Brookfield Asset Management, Inc. Class A

12,000

535,314

Calfrac Well Services Ltd.

1,000

19,122

Cameco Corp.

5,400

108,857

Canadian Imperial Bank of Commerce

3,800

352,729

Canadian National Railway Co.

15,800

1,056,231

Canadian Natural Resources Ltd.

21,400

932,858

Canadian Oil Sands Ltd.

1,500

32,040

Canadian Pacific Railway Ltd.

3,500

665,525

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

1,300

123,496

Catamaran Corp. (a)

2,300

104,732

CCL Industries, Inc. Class B

1,800

178,192

Cenovus Energy, Inc.

6,900

211,933

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

7,200

258,258

CI Financial Corp.

1,800

58,275

Cineplex, Inc.

1,700

60,775

Constellation Software, Inc.

600

142,523

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

200

4,421

Crescent Point Energy Corp.

5,300

216,258

Detour Gold Corp. (a)

10,000

112,716

Dollarama, Inc.

2,860

235,415

Eldorado Gold Corp.

2,200

16,323

Enbridge, Inc.

14,400

705,902

Encana Corp.

9,400

202,423

First Quantum Minerals Ltd.

2,174

51,561

Common Stocks - continued

Shares

Value

Canada - continued

Franco-Nevada Corp.

7,300

$ 413,021

Gildan Activewear, Inc.

3,900

228,524

Goldcorp, Inc.

20,900

572,361

Husky Energy, Inc.

4,900

149,065

Imperial Oil Ltd.

6,900

354,065

Industrial Alliance Insurance and Financial Services, Inc.

1,800

78,927

Intact Financial Corp.

2,750

183,409

Inter Pipeline Ltd.

7,900

244,749

Jean Coutu Group, Inc. Class A (sub. vtg.)

2,100

41,582

Keyera Corp.

2,723

203,835

MacDonald Dettwiler & Associates Ltd.

1,000

74,728

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

7,400

794,668

Manulife Financial Corp.

36,600

747,877

Methanex Corp.

1,300

84,604

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

1,300

84,759

National Bank of Canada

3,100

138,744

Onex Corp. (sub. vtg.)

3,900

226,950

Open Text Corp.

7,300

405,991

Pembina Pipeline Corp.

7,900

330,969

Peyto Exploration & Development Corp.

5,400

181,511

Potash Corp. of Saskatchewan, Inc. (e)

14,700

521,885

Precision Drilling Corp.

7,500

93,479

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

6,700

162,592

RioCan (REIT)

1,000

24,836

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

4,750

185,495

Royal Bank of Canada

24,500

1,808,149

Saputo, Inc.

3,100

192,394

Silver Wheaton Corp.

2,900

75,748

Stantec, Inc.

2,800

177,653

Sun Life Financial, Inc.

13,200

503,255

Suncor Energy, Inc.

40,172

1,649,471

Tahoe Resources, Inc. (a)

4,900

129,831

TELUS Corp.

12,800

446,800

The Toronto-Dominion Bank

31,800

1,662,985

Tim Hortons, Inc. (Canada)

800

44,690

Tourmaline Oil Corp. (a)

4,700

221,260

TransCanada Corp.

12,100

607,025

Valeant Pharmaceuticals International (Canada) (a)

4,000

468,950

Veresen, Inc.

7,400

125,760

Vermilion Energy, Inc.

4,500

296,987

Common Stocks - continued

Shares

Value

Canada - continued

West Fraser Timber Co. Ltd.

2,000

$ 91,108

Yamana Gold, Inc.

2,600

22,176

TOTAL CANADA

25,597,988

Cayman Islands - 0.2%

Mindray Medical International Ltd. sponsored ADR

7,900

237,395

New Oriental Education & Technology Group, Inc. sponsored ADR

13,400

261,970

Tencent Holdings Ltd.

31,400

509,928

Uni-President China Holdings Ltd.

690,000

566,217

TOTAL CAYMAN ISLANDS

1,575,510

China - 0.1%

Ping An Insurance (Group) Co. of China Ltd. (H Shares)

70,000

594,790

Curacao - 0.2%

Schlumberger Ltd.

14,000

1,517,460

Denmark - 0.5%

Coloplast A/S Series B

4,800

406,796

Novo Nordisk A/S Series B

58,600

2,697,486

Vestas Wind Systems A/S (a)

11,100

502,153

TOTAL DENMARK

3,606,435

Finland - 0.3%

Amer Group PLC (A Shares)

24,800

489,824

Kesko Oyj

13,400

511,383

Rakentajain Konevuokraamo Oyj (B Shares)

24,304

495,649

Sampo Oyj (A Shares)

16,229

808,410

TOTAL FINLAND

2,305,266

France - 1.9%

Atos Origin SA

8,236

643,618

AXA SA

58,400

1,344,267

BNP Paribas SA

27,272

1,807,669

Bureau Veritas SA

28,200

726,903

Christian Dior SA

8,005

1,395,090

Coface SA

21,400

315,785

GDF Suez

52,450

1,351,989

Ipsos SA

699

18,949

Kering SA

3,000

642,543

Legrand SA

14,050

778,979

Publicis Groupe SA

10,424

758,631

Rexel SA

30,378

589,216

Common Stocks - continued

Shares

Value

France - continued

Technip SA

4,900

$ 452,405

Total SA

42,800

2,760,374

TOTAL FRANCE

13,586,418

Germany - 2.1%

adidas AG

8,100

644,379

BASF AG

18,893

1,964,189

Bayer AG

15,900

2,106,095

Beiersdorf AG

6,500

587,856

CompuGroup Medical AG

20,100

500,617

Continental AG

3,800

822,284

Daimler AG (Germany)

17,715

1,467,872

Deutsche Boerse AG

11,600

842,509

Deutsche Post AG

27,605

887,702

Deutsche Wohnen AG (Bearer)

34,690

753,213

Fresenius SE & Co. KGaA

4,700

704,247

GEA Group AG

13,696

617,037

HeidelbergCement Finance AG

9,366

697,686

KION Group AG

11,801

460,632

Linde AG

5,800

1,187,496

MLP AG

74,700

500,135

TOTAL GERMANY

14,743,949

Hong Kong - 0.8%

AIA Group Ltd.

292,800

1,568,647

Champion (REIT)

1,182,000

549,111

Cheung Kong Holdings Ltd.

40,000

772,780

Lenovo Group Ltd.

386,000

526,538

Power Assets Holdings Ltd.

60,000

535,933

Techtronic Industries Co. Ltd.

295,000

884,198

Wharf Holdings Ltd.

73,000

581,809

TOTAL HONG KONG

5,419,016

Ireland - 1.3%

Actavis PLC (a)

12,800

2,742,528

Alkermes PLC (a)

30,600

1,308,456

Covidien PLC

9,000

778,590

CRH PLC

37,400

872,936

DCC PLC (United Kingdom)

13,000

743,156

Greencore Group PLC

106,221

473,977

James Hardie Industries PLC CDI

56,475

701,344

Kingspan Group PLC (United Kingdom)

32,100

546,320

Common Stocks - continued

Shares

Value

Ireland - continued

Ryanair Holdings PLC sponsored ADR (a)

10,600

$ 561,694

Seagate Technology LLC

9,000

527,400

TOTAL IRELAND

9,256,401

Israel - 0.4%

Bezeq The Israeli Telecommunication Corp. Ltd.

212,300

396,523

Sarine Technologies Ltd.

487,500

1,109,119

Teva Pharmaceutical Industries Ltd. sponsored ADR

22,700

1,214,450

TOTAL ISRAEL

2,720,092

Italy - 0.3%

Astaldi SpA (e)

44,000

424,800

Banca Popolare dell'Emilia Romagna (a)

38,700

329,065

Beni Stabili SpA SIIQ

478,500

389,247

MARR SpA

21,031

348,922

Prada SpA

60,000

424,764

World Duty Free SpA (a)

45,416

518,746

TOTAL ITALY

2,435,544

Japan - 2.9%

AEON Financial Service Co. Ltd.

11,200

255,252

AEON Mall Co. Ltd.

11,880

278,390

Asahi Kasei Corp.

41,000

324,028

Bridgestone Corp.

10,800

389,776

Dai-ichi Mutual Life Insurance Co.

25,400

357,801

Daikin Industries Ltd.

8,400

576,904

Don Quijote Holdings Co. Ltd.

4,700

253,959

Fuji Heavy Industries Ltd.

17,600

501,905

Furukawa Electric Co. Ltd.

126,000

266,525

Hino Motors Ltd.

7,800

107,866

Hitachi Metals Ltd.

33,000

536,625

Hoya Corp.

21,400

692,901

INPEX Corp.

15,300

226,756

Itochu Corp.

28,600

364,156

JAFCO Co. Ltd.

8,900

343,568

Japan Tobacco, Inc.

19,000

668,183

JSR Corp.

11,800

203,455

Kajima Corp.

38,000

176,702

KDDI Corp.

13,200

758,775

Makino Milling Machine Co. Ltd.

41,000

332,009

Makita Corp.

4,000

236,588

Mitsubishi Electric Corp.

76,000

1,003,317

Mitsubishi Heavy Industries Ltd.

102,000

664,901

Common Stocks - continued

Shares

Value

Japan - continued

Mitsui & Co. Ltd.

13,900

$ 222,920

Mitsui Fudosan Co. Ltd.

10,000

330,238

Nihon Kohden Corp.

6,800

334,113

Nihon Parkerizing Co. Ltd.

9,800

216,325

Nippon Ceramic Co. Ltd.

13,900

221,211

Nippon Shinyaku Co. Ltd.

7,000

199,875

Nissan Motor Co. Ltd.

81,000

794,643

OBIC Co. Ltd.

5,200

184,596

ORIX Corp.

63,500

1,026,242

Rakuten, Inc.

42,600

559,465

ROHM Co. Ltd.

9,200

518,654

Shinsei Bank Ltd.

137,000

289,690

SoftBank Corp.

10,300

740,449

Stanley Electric Co. Ltd.

27,000

700,306

Sumitomo Mitsui Financial Group, Inc.

17,700

721,531

Sumitomo Mitsui Trust Holdings, Inc.

137,000

596,184

THK Co. Ltd.

14,400

346,539

Tokyo Tatemono Co. Ltd.

35,000

298,929

Toray Industries, Inc.

44,000

297,829

Tosoh Corp.

55,000

241,322

Toyota Motor Corp.

12,200

720,289

Welcia Holdings Co. Ltd.

6,000

384,177

Yamaha Motor Co. Ltd.

40,100

664,293

TOTAL JAPAN

20,130,162

Luxembourg - 0.1%

GAGFAH SA (a)

19,300

339,069

Samsonite International SA

163,800

507,604

TOTAL LUXEMBOURG

846,673

Netherlands - 0.7%

AerCap Holdings NV (a)

29,000

1,265,270

ING Groep NV (Certificaten Van Aandelen) (a)

101,100

1,313,045

Koninklijke Philips Electronics NV

34,900

1,075,638

LyondellBasell Industries NV Class A

6,000

637,500

Royal DSM NV

10,500

726,622

TOTAL NETHERLANDS

5,018,075

New Zealand - 0.1%

Fletcher Building Ltd.

41,528

317,954

Common Stocks - continued

Shares

Value

New Zealand - continued

Metro Performance Glass Ltd. (a)

75,706

$ 113,833

Telecom Corp. of New Zealand Ltd.

200,113

482,789

TOTAL NEW ZEALAND

914,576

Norway - 0.2%

DNB ASA

43,400

773,231

Telenor ASA

39,200

903,558

TOTAL NORWAY

1,676,789

Papua New Guinea - 0.1%

Oil Search Ltd. ADR

61,117

534,555

Portugal - 0.1%

CTT Correios de Portugal SA

31,459

334,895

Singapore - 0.0%

Great Eastern Holdings Ltd.

8,000

146,824

South Africa - 0.1%

Naspers Ltd. Class N

4,000

496,383

Spain - 0.5%

Criteria CaixaCorp SA

175,599

1,057,876

Hispania Activos Inmobiliarios SA (a)

21,500

290,775

Inditex SA

37,685

1,102,849

Repsol YPF SA

36,025

898,215

TOTAL SPAIN

3,349,715

Sweden - 0.7%

AF AB (B Shares)

25,624

429,964

Getinge AB (B Shares)

48,200

1,176,666

Investment AB Kinnevik (B Shares)

12,600

524,224

Nordea Bank AB

87,800

1,181,155

Svenska Handelsbanken AB (A Shares)

20,200

977,174

Swedish Match Co. AB

19,600

642,423

TOTAL SWEDEN

4,931,606

Switzerland - 2.6%

Aryzta AG

6,020

546,520

Baloise Holdings AG

5,160

623,459

Nestle SA

54,150

4,009,270

Partners Group Holding AG

2,489

625,023

Roche Holding AG (participation certificate)

18,674

5,419,302

Schindler Holding AG (participation certificate)

4,783

716,332

Sonova Holding AG Class B

1,815

282,611

Swatch Group AG (Bearer)

860

460,780

Common Stocks - continued

Shares

Value

Switzerland - continued

Syngenta AG (Switzerland)

2,589

$ 917,164

TE Connectivity Ltd.

44,000

2,723,160

UBS AG

73,952

1,270,609

Vontobel Holdings AG

15,592

559,339

TOTAL SWITZERLAND

18,153,569

United Kingdom - 4.7%

Aberdeen Asset Management PLC

145,243

1,014,695

Associated British Foods PLC

14,614

685,411

Babcock International Group PLC

42,430

786,548

Barclays PLC

456,244

1,729,481

BG Group PLC

81,700

1,611,064

BHP Billiton PLC

57,396

1,957,894

Brit PLC (a)

119,700

497,140

British American Tobacco PLC (United Kingdom)

46,100

2,700,650

Bunzl PLC

25,600

687,638

Compass Group PLC

68,235

1,114,571

Dechra Pharmaceuticals PLC

44,400

520,226

Diageo PLC

46,802

1,405,574

Elementis PLC

74,300

338,690

Galliford Try PLC

22,890

492,726

GlaxoSmithKline PLC

89,859

2,165,490

HSBC Holdings PLC (United Kingdom)

95,759

1,026,625

IMI PLC

24,135

577,387

ITV PLC

268,100

944,646

Jazztel PLC (a)

39,000

525,885

London Stock Exchange Group PLC

21,800

713,280

Meggitt PLC

75,740

650,228

Mondi PLC

27,000

475,442

Next PLC

8,200

937,243

Prudential PLC

74,611

1,714,849

Rolls-Royce Group PLC

61,027

1,071,532

Royal & Sun Alliance Insurance Group PLC

88,785

687,572

Royal Dutch Shell PLC Class B (United Kingdom)

45,277

1,949,709

Schroders PLC

15,100

609,291

Smith & Nephew PLC

48,868

841,004

Spectris PLC

13,200

425,208

St. James's Place Capital PLC

44,600

547,041

Tullow Oil PLC

53,500

658,011

Vodafone Group PLC

207,763

691,871

TOTAL UNITED KINGDOM

32,754,622

Common Stocks - continued

Shares

Value

United States of America - 28.9%

Adobe Systems, Inc. (a)

144,500

$ 9,986,395

American Airlines Group, Inc.

145,000

5,633,250

American Express Co.

11,000

968,000

Ameriprise Financial, Inc.

89,700

10,728,120

Applied Materials, Inc.

95,000

1,991,200

AutoZone, Inc. (a)

3,200

1,654,496

Biogen Idec, Inc. (a)

8,300

2,775,437

Bluebird Bio, Inc. (a)

1,300

43,420

Boston Properties, Inc.

1,600

191,120

Boston Scientific Corp. (a)

27,500

351,450

Cabot Oil & Gas Corp.

261,000

8,599,950

Caterpillar, Inc.

7,000

705,250

CBRE Group, Inc. (a)

52,000

1,603,680

Celanese Corp. Class A

21,000

1,222,410

Chipotle Mexican Grill, Inc. (a)

1,200

807,000

Church & Dwight Co., Inc.

4,000

256,720

Cimarex Energy Co.

5,000

695,100

Colgate-Palmolive Co.

7,675

486,595

Comcast Corp. Class A

103,000

5,534,190

Computer Sciences Corp.

5,000

311,950

Continental Resources, Inc. (a)

5,500

807,290

Cummins, Inc.

67,300

9,380,947

CVS Caremark Corp.

82,500

6,299,700

Devon Energy Corp.

33,000

2,491,500

Diamondback Energy, Inc. (a)

2,000

164,460

Dynegy, Inc. (a)

61,900

1,643,445

EOG Resources, Inc.

20,000

2,188,800

Estee Lauder Companies, Inc. Class A

18,000

1,322,280

Facebook, Inc. Class A (a)

78,600

5,710,290

Fidelity National Information Services, Inc.

55,000

3,102,000

Freeport-McMoRan Copper & Gold, Inc.

23,000

856,060

Google, Inc. Class A (a)

18,900

10,953,495

Halliburton Co.

97,000

6,692,030

Illumina, Inc. (a)

4,400

703,604

inContact, Inc. (a)

47,000

375,530

Interactive Intelligence Group, Inc. (a)

3,000

136,110

Intercept Pharmaceuticals, Inc. (a)

9,900

2,300,364

InterMune, Inc. (a)

11,000

482,570

Isis Pharmaceuticals, Inc. (a)

3,700

114,663

JetBlue Airways Corp. (a)

44,000

471,680

Johnson & Johnson

30,000

3,002,700

Las Vegas Sands Corp.

3,000

221,550

Common Stocks - continued

Shares

Value

United States of America - continued

Marriott International, Inc. Class A

63,000

$ 4,076,730

MasterCard, Inc. Class A

12,000

889,800

McGraw Hill Financial, Inc.

141,000

11,311,020

Memorial Resource Development Corp.

11,900

273,462

Micron Technology, Inc. (a)

89,000

2,718,950

Microsoft Corp.

167,000

7,207,720

Moody's Corp.

26,000

2,262,000

MPLX LP

19,000

1,078,250

Neurocrine Biosciences, Inc. (a)

13,000

176,540

Newfield Exploration Co. (a)

88,000

3,546,400

NextEra Energy Partners LP

30,300

1,031,412

Noble Energy, Inc.

48,000

3,191,520

Norfolk Southern Corp.

61,900

6,292,754

Oracle Corp.

60,600

2,447,634

Philip Morris International, Inc.

6,000

492,060

Phillips 66 Partners LP

19,000

1,215,050

Piedmont Office Realty Trust, Inc. Class A

22,000

427,900

Pioneer Natural Resources Co.

10,300

2,281,038

Prestige Brands Holdings, Inc. (a)

58,000

1,786,400

priceline.com, Inc. (a)

400

496,980

QUALCOMM, Inc.

8,100

596,970

Ralph Lauren Corp.

4,500

701,370

Range Resources Corp.

80,000

6,047,200

salesforce.com, Inc. (a)

34,300

1,860,775

Sempra Energy

14,000

1,395,940

SL Green Realty Corp.

1,000

107,800

Spectra Energy Corp.

17,000

695,640

Spirit Airlines, Inc. (a)

21,300

1,393,446

Stericycle, Inc. (a)

3,000

352,950

SVB Financial Group (a)

5,000

545,100

T. Rowe Price Group, Inc.

9,000

698,940

Targa Resources Corp.

6,300

803,250

The Cooper Companies, Inc.

13,600

2,187,968

The Walt Disney Co.

21,000

1,803,480

Thermo Fisher Scientific, Inc.

26,000

3,159,000

TJX Companies, Inc.

6,700

357,043

Twitter, Inc.

21,000

948,990

Ultragenyx Pharmaceutical, Inc.

1,100

48,070

Union Pacific Corp.

47,800

4,699,218

Wells Fargo & Co.

63,000

3,206,700

Western Digital Corp.

8,000

798,640

Workday, Inc. Class A (a)

600

50,304

Common Stocks - continued

Shares

Value

United States of America - continued

Wyndham Worldwide Corp.

6,000

$ 453,300

Zebra Technologies Corp. Class A (a)

41,000

3,282,870

TOTAL UNITED STATES OF AMERICA

203,365,385

TOTAL COMMON STOCKS

(Cost $354,078,115)


400,190,851

Nonconvertible Preferred Stocks - 0.2%

 

 

 

 

Germany - 0.2%

Volkswagen AG

5,900

1,379,014

United Kingdom - 0.0%

Rolls-Royce Group PLC (C Shares)

20,581,153

34,747

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $949,186)


1,413,761

Nonconvertible Bonds - 9.5%

 

Principal Amount (d)

 

Australia - 0.0%

Rio Tinto Finance (U.S.A.) Ltd. 9% 5/1/19

$ 250,000

324,892

Bailiwick of Jersey - 0.3%

AA Bond Co. Ltd.:

3.781% 7/31/43 (Reg S.)

GBP

500,000

851,779

4.7201% 7/31/18 (Reg. S)

GBP

600,000

1,065,896

TOTAL BAILIWICK OF JERSEY

1,917,675

British Virgin Islands - 0.1%

CNOOC Finance 2011 Ltd. 4.25% 1/26/21

400,000

422,364

Canada - 0.0%

The Toronto Dominion Bank 2.375% 10/19/16

250,000

258,055

Cayman Islands - 0.2%

Bishopgate Asset Finance Ltd. 4.808% 8/14/44

GBP

183,240

295,081

IPIC GMTN Ltd.:

5.875% 3/14/21 (Reg. S)

EUR

175,000

294,089

6.875% 3/14/26

GBP

150,000

317,822

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

GBP

100,000

217,480

TOTAL CAYMAN ISLANDS

1,124,472

Denmark - 0.2%

Nykredit Realkredit A/S 4% 6/3/36 (Reg. S) (h)

EUR

1,150,000

1,563,006

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

France - 0.6%

Arkema SA 3.85% 4/30/20

EUR

300,000

$ 456,348

Banque Federative du Credit Mutuel SA 2.5% 10/29/18 (f)

$ 350,000

352,762

Bureau Veritas SA 3.125% 1/21/21 (Reg. S)

EUR

500,000

713,474

EDF SA 4.625% 9/11/24

EUR

150,000

248,135

Eutelsat SA 2.625% 1/13/20 (Reg. S)

EUR

200,000

283,060

HSBC SFH France SA 2% 10/16/23

EUR

800,000

1,125,678

Iliad SA 4.875% 6/1/16

EUR

500,000

713,087

TOTAL FRANCE

3,892,544

Germany - 0.2%

ProSiebenSat.1 Media AG 2.625% 4/15/21 (Reg S.)

EUR

550,000

747,274

Vier Gas Transport GmbH:

2.875% 6/12/25 (Reg. S)

EUR

200,000

287,791

3.125% 7/10/23

EUR

250,000

369,136

TOTAL GERMANY

1,404,201

Hong Kong - 0.1%

Wharf Finance Ltd. 4.625% 2/8/17

400,000

423,865

Ireland - 0.1%

Aquarius & Investments PLC 4.25% 10/2/43 (h)

EUR

150,000

217,825

GE Capital UK Funding 4.375% 7/31/19

GBP

450,000

814,200

TOTAL IRELAND

1,032,025

Italy - 0.3%

Assicurazioni Generali SpA 2.875% 1/14/20 (Reg. S)

EUR

300,000

427,579

Banca Monte dei Paschi di Siena SpA 2.875% 4/16/21 (Reg S.)

EUR

300,000

417,345

Banco Popolare Societa Cooperativa 3.5% 3/14/19

EUR

600,000

819,250

Intesa Sanpaolo SpA 4.875% 7/10/15

EUR

300,000

416,760

Unione di Banche Italiane ScpA 4.5% 2/22/16

EUR

200,000

283,762

TOTAL ITALY

2,364,696

Japan - 0.1%

Sumitomo Life Insurance Co. 6.5% 9/20/73 (Reg. S) (h)

400,000

471,000

Korea (South) - 0.2%

Export-Import Bank of Korea 5% 4/11/22

200,000

224,110

Korea Resources Corp. 2.125% 5/2/18 (Reg. S)

200,000

198,560

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

Korea (South) - continued

National Agricultural Cooperative Federation 4.25% 1/28/16 (Reg. S)

$ 450,000

$ 469,567

Nonghyup Bank 2.625% 11/1/18 (Reg. S)

200,000

201,435

TOTAL KOREA (SOUTH)

1,093,672

Netherlands - 0.6%

Achmea BV 2.5% 11/19/20

EUR

500,000

703,544

Coca Cola HBC Finance BV 2.375% 6/18/20

EUR

400,000

559,754

Deutsche Annington Finance BV:

3.2% 10/2/17 (f)

350,000

360,389

5% 10/2/23 (f)

450,000

481,298

Heineken NV 1.4% 10/1/17 (f)

550,000

548,245

LYB International Finance BV:

4% 7/15/23

500,000

520,481

4.875% 3/15/44

500,000

521,818

Robert Bosch Investment NL BV 1.625% 5/24/21

EUR

200,000

274,656

Volkswagen International Finance NV 2.375% 3/22/17 (f)

400,000

410,924

Wuerth Finance International BV 1.75% 5/21/20

EUR

150,000

208,766

TOTAL NETHERLANDS

4,589,875

Norway - 0.1%

DNB Boligkreditt A/S 1.45% 3/21/19 (f)

400,000

395,639

Singapore - 0.1%

CMT MTN Pte. Ltd. 3.731% 3/21/18 (Reg. S)

400,000

418,487

PSA International Pte Ltd. 4.625% 9/11/19 (Reg. S)

250,000

277,376

TOTAL SINGAPORE

695,863

Slovakia - 0.2%

SPP Distribucia A/S 2.625% 6/23/21 (Reg S.)

EUR

1,250,000

1,684,960

Spain - 0.3%

BBVA Subordinated Capital SAU 3.5% 4/11/24 (Reg S.) (h)

EUR

1,200,000

1,656,438

BBVA U.S. Senior SA 4.664% 10/9/15

500,000

521,884

TOTAL SPAIN

2,178,322

Sweden - 0.1%

Akzo Nobel Sweden Finance AB 2.625% 7/27/22

EUR

200,000

284,918

Svenska Handelsbanken AB 2.656% 1/15/24 (h)

EUR

441,000

609,830

TOTAL SWEDEN

894,748

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

Switzerland - 0.1%

Credit Suisse Group 5.75% 9/18/25 (Reg. S) (h)

EUR

300,000

$ 447,912

United Arab Emirates - 0.0%

Abu Dhabi National Energy Co. 3.625% 1/12/23 (Reg. S)

$ 300,000

300,750

United Kingdom - 1.5%

Abbey National Treasury Services PLC:

2% 1/14/19 (Reg. S)

EUR

550,000

764,419

3.625% 9/8/16

EUR

400,000

571,938

Barclays Bank PLC:

4.25% 1/12/22

GBP

350,000

642,716

6.75% 1/16/23 (h)

GBP

300,000

552,930

BAT International Finance PLC 3.25% 6/7/22 (f)

200,000

199,089

Capital Shopping Centres Group PLC 3.875% 3/17/23

GBP

300,000

502,901

Centrica PLC 5.375% 10/16/43 (f)

200,000

213,294

Channel Link Enterprises Finance PLC 3.559% 6/30/50 (h)

EUR

950,000

1,262,585

Direct Line Insurance Group PLC 9.25% 4/27/42 (h)

GBP

100,000

212,177

Eastern Power Networks PLC 6.25% 11/12/36

GBP

160,000

334,290

Eversholt Funding PLC 5.831% 12/2/20

GBP

100,000

190,205

Experian Finance PLC:

2.375% 6/15/17 (f)

425,000

431,731

4.75% 2/4/20

EUR

450,000

706,610

First Hydro Finance PLC 9% 7/31/21

GBP

320,000

711,193

Ford Credit Europe PLC:

1.625% 9/9/16 (Reg. S)

EUR

150,000

204,476

1.875% 5/12/16

EUR

300,000

409,859

Great Rolling Stock Co. Ltd. 6.25% 7/27/20

GBP

350,000

674,757

Imperial Tobacco Finance 7.25% 9/15/14

EUR

150,000

202,286

Lloyds Bank PLC 2.3% 11/27/18

350,000

352,771

Mondi Finance PLC 3.375% 9/28/20

EUR

350,000

507,795

Motability Operations Group PLC 3.75% 11/29/17

EUR

300,000

440,703

Tesco PLC 5.875% 9/12/16

EUR

100,000

148,436

Wales & West Utilities Finance PLC 6.75% 12/17/36 (h)

GBP

150,000

287,808

Western Power Distribution PLC 5.75% 3/23/40

GBP

150,000

300,302

TOTAL UNITED KINGDOM

10,825,271

United States of America - 4.1%

AbbVie, Inc. 1.75% 11/6/17

400,000

400,075

Altria Group, Inc.:

2.85% 8/9/22

500,000

477,691

9.25% 8/6/19

134,000

175,685

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

United States of America - continued

AMB Property LP 3% 1/18/22

EUR

550,000

$ 789,276

American Express Co. 1.55% 5/22/18

$ 550,000

544,041

American International Group, Inc. 5% 4/26/23

GBP

200,000

371,085

Anadarko Petroleum Corp. 3.45% 7/15/24

900,000

891,872

AutoZone, Inc. 3.125% 7/15/23

400,000

387,264

Chevron Corp.:

2.427% 6/24/20

200,000

201,463

3.191% 6/24/23

300,000

302,661

Citigroup, Inc.:

2.375% 5/22/24 (Reg. S)

EUR

1,100,000

1,508,088

4.5% 1/14/22

150,000

161,447

Comcast Corp.:

3.6% 3/1/24

350,000

358,088

4.75% 3/1/44

350,000

365,201

DIRECTV Holdings LLC/DIRECTV Financing, Inc. 3.8% 3/15/22

600,000

614,610

Discovery Communications LLC 3.25% 4/1/23

500,000

484,774

Dover Corp. 2.125% 12/1/20

EUR

350,000

487,905

Enbridge Energy Partners LP 5.2% 3/15/20

250,000

280,099

Frontier Oil Corp. 6.875% 11/15/18

250,000

261,875

General Electric Capital Corp. 4.65% 10/17/21

250,000

276,638

General Electric Co.:

4.5% 3/11/44

650,000

673,486

5.25% 12/6/17

550,000

615,641

Gilead Sciences, Inc.:

3.7% 4/1/24

550,000

563,801

4.8% 4/1/44

550,000

585,710

Goldman Sachs Group, Inc. 2.625% 8/19/20

EUR

450,000

640,225

Illinois Tool Works, Inc. 3% 5/19/34

EUR

600,000

825,243

Jefferies Group, Inc. 2.375% 5/20/20 (Reg. S)

EUR

1,150,000

1,551,780

Metropolitan Life Global Funding I 3% 1/10/23 (f)

350,000

346,050

Mondelez International, Inc.:

1.125% 1/26/17

EUR

850,000

1,147,503

2.375% 1/26/21

EUR

550,000

772,599

Morgan Stanley 2.375% 3/31/21 (Reg. S)

EUR

2,200,000

3,072,001

NBCUniversal, Inc. 4.375% 4/1/21

500,000

547,396

Philip Morris International, Inc.:

2.125% 5/30/19

EUR

100,000

140,790

2.875% 5/30/24

EUR

150,000

216,366

Plains All American Pipeline LP/PAA Finance Corp. 8.75% 5/1/19

100,000

127,727

Procter & Gamble Co. 2% 11/5/21

EUR

200,000

280,847

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

United States of America - continued

Prologis LP 3.375% 2/20/24

EUR

450,000

$ 649,188

Qwest Corp. 6.75% 12/1/21

$ 650,000

747,271

Reynolds American, Inc. 1.05% 10/30/15

200,000

200,009

Roche Holdings, Inc. 6% 3/1/19 (f)

106,000

123,747

SABMiller Holdings, Inc.:

2.2% 8/1/18 (f)

450,000

452,468

2.45% 1/15/17 (f)

400,000

410,808

3.75% 1/15/22 (f)

200,000

207,054

Simon Property Group LP 2.375% 10/2/20

EUR

500,000

706,393

Southeast Supply Header LLC 4.85% 8/15/14 (f)

300,000

300,308

The Coca-Cola Co. 3.3% 9/1/21

350,000

364,097

U.S. Bancorp 3% 3/15/22

500,000

502,817

Verizon Communications, Inc. 5.15% 9/15/23

350,000

386,845

Viacom, Inc. 4.25% 9/1/23

250,000

259,446

Wal-Mart Stores, Inc. 5.625% 4/15/41

500,000

605,158

Walt Disney Co.:

0.45% 12/1/15

350,000

349,925

2.35% 12/1/22

150,000

143,334

Wells Fargo & Co. 3.676% 6/15/16

450,000

473,381

William Wrigley Jr. Co.:

2% 10/20/17 (f)

150,000

151,672

2.9% 10/21/19 (f)

150,000

152,790

TOTAL UNITED STATES OF AMERICA

28,633,714

TOTAL NONCONVERTIBLE BONDS

(Cost $63,790,090)


66,939,521

Government Obligations - 25.7%

 

Canada - 0.7%

Canadian Government 1.5% 6/1/23

CAD

6,000,000

5,256,019

Germany - 4.0%

German Federal Republic:

Inflation-Indexed Bond 0.1% 4/15/23

EUR

3,111,390

4,333,919

0% 12/12/14

EUR

5,050,000

6,761,188

0.25% 4/13/18

EUR

2,050,000

2,753,480

0.5% 10/13/17

EUR

150,000

203,505

1.5% 5/15/24

EUR

3,750,000

5,169,620

2.5% 7/4/44

EUR

2,200,000

3,228,128

Government Obligations - continued

 

Principal
Amount (d)

Value

Germany - continued

German Federal Republic: - continued

4.25% 7/4/17

EUR

200,000

$ 300,469

4.75% 7/4/40

EUR

2,600,000

5,372,105

TOTAL GERMANY

28,122,414

Israel - 0.2%

Israeli State 2.875% 1/29/24 (Reg.S)

EUR

850,000

1,212,175

Italy - 3.5%

Buoni Poliennali del Tesoro:

2.5% 5/1/19

EUR

2,200,000

3,114,416

4.5% 3/1/24

EUR

3,500,000

5,444,651

5.5% 11/1/22

EUR

5,250,000

8,689,306

Italian Republic Inflation-Indexed Bond 2.25% 4/22/17

EUR

5,503,740

7,681,847

TOTAL ITALY

24,930,220

Japan - 10.7%

Japan Government:

0.1% 2/15/16

JPY

1,680,000,000

16,342,314

0.3% 6/20/15

JPY

1,600,000,000

15,589,443

1.3% 3/20/20

JPY

550,000,000

5,680,097

1.3% 6/20/20

JPY

781,000,000

8,081,750

1.3% 3/20/21

JPY

802,750,000

8,340,391

1.7% 9/20/32

JPY

1,014,450,000

10,565,774

2% 9/20/40

JPY

981,000,000

10,329,945

TOTAL JAPAN

74,929,714

Netherlands - 0.4%

Dutch Government:

1.75% 7/15/23 (Reg. S)

EUR

800,000

1,119,756

2.75% 1/15/15

EUR

1,250,000

1,694,153

TOTAL NETHERLANDS

2,813,909

Spain - 1.6%

Spanish Kingdom:

3.8% 4/30/24 (Reg.S)

EUR

6,000,000

8,911,324

5.5% 4/30/21

EUR

1,400,000

2,323,972

TOTAL SPAIN

11,235,296

Government Obligations - continued

 

Principal Amount (d)

Value

United Kingdom - 1.0%

United Kingdom, Great Britain and Northern Ireland:

3.25% 1/22/44

GBP

1,150,000

$ 1,918,514

4% 3/7/22

GBP

1,400,000

2,630,260

5% 9/7/14

GBP

1,550,000

2,628,798

6% 12/7/28

GBP

50,000

114,544

TOTAL UNITED KINGDOM

7,292,116

United States of America - 3.6%

U.S. Treasury Bonds:

2.75% 8/15/42

$ 650,000

582,969

2.75% 11/15/42

900,000

805,640

3% 5/15/42

100,000

94,531

3.125% 11/15/41

150,000

145,711

U.S. Treasury Notes:

0.125% 12/31/14

500,000

500,117

0.625% 9/30/17

1,100,000

1,082,641

1% 3/31/17

350,000

351,066

1.375% 9/30/18

5,150,000

5,112,580

1.5% 2/28/19

1,900,000

1,884,859

1.75% 5/15/23

10,900,000

10,273,250

2.75% 11/15/23

4,250,000

4,335,663

TOTAL UNITED STATES OF AMERICA

25,169,027

TOTAL GOVERNMENT OBLIGATIONS

(Cost $180,761,511)


180,960,890

Asset-Backed Securities - 0.1%

 

Bavarian Sky SA 0.331% 6/20/20 (h)
(Cost $571,955)

EUR

441,988


591,800

Collateralized Mortgage Obligations - 0.0%

 

Private Sponsor - 0.0%

Granite Master Issuer PLC Series 2005-1 Class A5, 0.271% 12/20/54 (h)
(Cost $142,495)

EUR

115,278


153,406

Commercial Mortgage Securities - 0.0%

 

Principal Amount (d)

Value

United Kingdom - 0.0%

Eddystone Finance PLC Series 2006-1 Class A2, 1.0806% 4/19/21 (h)
(Cost $188,473)

GBP

123,942

$ 206,113

Supranational Obligations - 0.1%

 

European Investment Bank 1.75% 3/15/17
(Cost $995,470)

$ 1,000,000


1,018,990

Fixed-Income Funds - 1.3%

Shares

 

Fidelity Emerging Markets Debt Central Fund (i)

841,996

8,748,336

Fidelity High Income Central Fund 1 (i)

53

5,459

TOTAL FIXED-INCOME FUNDS

(Cost $8,513,978)


8,753,795

Preferred Securities - 0.4%

 

Principal Amount (d)

 

Cayman Islands - 0.1%

SMFG Preferred Capital GBP 2 Ltd. 10.231% (Reg. S) (g)(h)

GBP

250,000

623,355

Japan - 0.1%

Fukoku Mutual Life Insurance Co. 6.5% (Reg. S) (g)(h)

$ 550,000

651,108

Switzerland - 0.2%

UBS AG 4.75% 2/12/26 (Reg. S) (h)

EUR

800,000

1,164,961

TOTAL PREFERRED SECURITIES

(Cost $2,272,138)


2,439,424

Money Market Funds - 6.3%

Shares

Value

Fidelity Cash Central Fund, 0.11% (b)

43,112,859

$ 43,112,859

Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)

1,050,245

1,050,245

TOTAL MONEY MARKET FUNDS

(Cost $44,163,104)


44,163,104

TOTAL INVESTMENT PORTFOLIO - 100.5%

(Cost $656,426,515)

706,831,655

NET OTHER ASSETS (LIABILITIES) - (0.5)%

(3,709,661)

NET ASSETS - 100%

$ 703,121,994

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

(d) 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 $5,538,268 or 0.8% of net assets.

(g) Security is perpetual in nature with no stated maturity date.

(h) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(i) Affiliated fund that is generally 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 website 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 and/or advisor.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

$ 28,225

Fidelity Emerging Markets Debt Central Fund

294,720

Fidelity High Income Central Fund 1

67,474

Fidelity Securities Lending Cash Central Fund

50,901

Total

$ 441,320

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 Debt Central Fund

$ 2,220,595

$ 8,311,317

$ 1,992,802

$ 8,748,336

6.9%

Fidelity High Income Central Fund 1

-

4,062,088

4,088,706

5,459

0.0%

Total

$ 2,220,595

$ 12,373,405

$ 6,081,508

$ 8,753,795

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

The following is a summary of the inputs used, as of July 31, 2014, involving the Fund's assets and liabilities carried at fair 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:

Consumer Discretionary

$ 38,841,520

$ 31,339,565

$ 7,501,955

$ -

Consumer Staples

25,522,631

13,498,035

12,024,596

-

Energy

58,718,041

51,635,583

7,082,458

-

Financials

83,762,778

59,485,363

24,277,415

-

Health Care

43,668,660

30,419,844

13,248,816

-

Industrials

55,450,365

46,162,868

9,287,497

-

Information Technology

62,337,090

58,459,614

3,877,476

-

Materials

21,099,426

11,166,862

9,932,564

-

Telecommunication Services

5,996,788

3,805,693

2,191,095

-

Utilities

6,207,313

5,422,786

784,527

-

Corporate Bonds

66,939,521

-

66,939,521

-

Government Obligations

180,960,890

-

180,960,890

-

Asset-Backed Securities

591,800

-

591,800

-

Collateralized Mortgage Obligations

153,406

-

153,406

-

Commercial Mortgage Securities

206,113

-

206,113

-

Supranational Obligations

1,018,990

-

1,018,990

-

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Fixed-Income Funds

$ 8,753,795

$ 8,753,795

$ -

$ -

Preferred Securities

2,439,424

-

2,439,424

-

Money Market Funds

44,163,104

44,163,104

-

-

Total Investments in Securities:

$ 706,831,655

$ 364,313,112

$ 342,518,543

$ -

The following is a summary of transfers between Level 1 and Level 2 for the period ended July 31, 2014. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing:

Transfers

Total

Level 1 to Level 2

$ 17,355,186

Level 2 to Level 1

$ 0

Income Tax Information

At July 31, 2014, the cost of investment securities for income tax purposes was $657,466,011. Net unrealized appreciation aggregated $49,365,644, of which $61,619,232 related to appreciated investment securities and $12,253,588 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds, foreign government and government agency obligations, preferred securities, supranational obligations and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. Asset backed securities, collateralized mortgage obligations and commercial mortgage securities are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

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

Quarterly Holdings Report

for

Fidelity ® Global Balanced Fund

July 31, 2014

1.804837.110
GBL-QTLY-0914

Investments July 31, 2014 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 56.9%

Shares

Value

Australia - 2.4%

Ainsworth Game Technology Ltd.

78,115

$ 271,482

AMP Ltd.

203,723

1,028,372

Asciano Ltd.

82,376

457,269

Australia & New Zealand Banking Group Ltd.

37,135

1,159,415

BHP Billiton Ltd.

50,414

1,790,022

Cabcharge Australia Ltd.

116,819

496,578

Carsales.com Ltd.

18,965

200,272

Coca-Cola Amatil Ltd.

33,181

282,976

Commonwealth Bank of Australia

36,570

2,820,636

Computershare Ltd.

84,802

1,023,376

CSL Ltd.

18,430

1,148,254

John Fairfax Holdings Ltd.

529,368

416,662

Leighton Holdings Ltd.

15,357

312,327

Lend Lease Group unit

51,501

642,691

Macquarie CountryWide Trust

112,447

416,466

Macquarie Group Ltd.

15,639

836,993

Pact Group Holdings Ltd.

104,519

357,959

QBE Insurance Group Ltd.

47,614

481,265

Sims Metal Management Ltd. (a)

73,704

807,702

Suncorp Group Ltd. (a)

70,447

926,242

Sunland Group Ltd.

130,921

198,940

Super Cheap Auto Group Ltd.

28,837

251,104

Sydney Airport unit

204,827

812,524

TOTAL AUSTRALIA

17,139,527

Austria - 0.1%

Andritz AG

11,500

623,663

Bailiwick of Jersey - 0.1%

Petrofac Ltd.

18,400

340,780

Belgium - 0.5%

Anheuser-Busch InBev SA NV

18,600

2,007,549

KBC Groupe SA (a)

18,784

1,022,961

UCB SA

8,000

735,299

TOTAL BELGIUM

3,765,809

Bermuda - 0.3%

Biosensors International Group Ltd.

653,000

443,292

Hankore Environment Tech Group L (a)

355,300

248,594

Luk Fook Holdings International Ltd.

52,000

161,505

Nam Cheong Ltd.

1,452,000

533,461

Common Stocks - continued

Shares

Value

Bermuda - continued

Nine Dragons Paper (Holdings) Ltd.

474,000

$ 390,005

Pacific Basin Shipping Ltd.

319,000

192,154

TOTAL BERMUDA

1,969,011

British Virgin Islands - 0.1%

Mail.Ru Group Ltd. GDR (Reg. S) (a)

11,331

339,363

Canada - 3.6%

Agnico Eagle Mines Ltd. (Canada)

9,300

345,781

Agrium, Inc.

1,200

109,396

Aimia, Inc.

7,000

123,071

Air Canada Class A (a)

15,000

131,655

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

19,200

525,453

ARC Resources Ltd.

4,000

110,203

ATS Automation Tooling System, Inc. (a)

9,000

122,410

Bank of Montreal (e)

10,900

812,439

Bank of Nova Scotia

17,200

1,167,489

Barrick Gold Corp.

12,300

222,231

BCE, Inc.

10,800

489,113

Brookfield Asset Management, Inc. Class A

12,000

535,314

Calfrac Well Services Ltd.

1,000

19,122

Cameco Corp.

5,400

108,857

Canadian Imperial Bank of Commerce

3,800

352,729

Canadian National Railway Co.

15,800

1,056,231

Canadian Natural Resources Ltd.

21,400

932,858

Canadian Oil Sands Ltd.

1,500

32,040

Canadian Pacific Railway Ltd.

3,500

665,525

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

1,300

123,496

Catamaran Corp. (a)

2,300

104,732

CCL Industries, Inc. Class B

1,800

178,192

Cenovus Energy, Inc.

6,900

211,933

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

7,200

258,258

CI Financial Corp.

1,800

58,275

Cineplex, Inc.

1,700

60,775

Constellation Software, Inc.

600

142,523

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

200

4,421

Crescent Point Energy Corp.

5,300

216,258

Detour Gold Corp. (a)

10,000

112,716

Dollarama, Inc.

2,860

235,415

Eldorado Gold Corp.

2,200

16,323

Enbridge, Inc.

14,400

705,902

Encana Corp.

9,400

202,423

First Quantum Minerals Ltd.

2,174

51,561

Common Stocks - continued

Shares

Value

Canada - continued

Franco-Nevada Corp.

7,300

$ 413,021

Gildan Activewear, Inc.

3,900

228,524

Goldcorp, Inc.

20,900

572,361

Husky Energy, Inc.

4,900

149,065

Imperial Oil Ltd.

6,900

354,065

Industrial Alliance Insurance and Financial Services, Inc.

1,800

78,927

Intact Financial Corp.

2,750

183,409

Inter Pipeline Ltd.

7,900

244,749

Jean Coutu Group, Inc. Class A (sub. vtg.)

2,100

41,582

Keyera Corp.

2,723

203,835

MacDonald Dettwiler & Associates Ltd.

1,000

74,728

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

7,400

794,668

Manulife Financial Corp.

36,600

747,877

Methanex Corp.

1,300

84,604

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

1,300

84,759

National Bank of Canada

3,100

138,744

Onex Corp. (sub. vtg.)

3,900

226,950

Open Text Corp.

7,300

405,991

Pembina Pipeline Corp.

7,900

330,969

Peyto Exploration & Development Corp.

5,400

181,511

Potash Corp. of Saskatchewan, Inc. (e)

14,700

521,885

Precision Drilling Corp.

7,500

93,479

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

6,700

162,592

RioCan (REIT)

1,000

24,836

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

4,750

185,495

Royal Bank of Canada

24,500

1,808,149

Saputo, Inc.

3,100

192,394

Silver Wheaton Corp.

2,900

75,748

Stantec, Inc.

2,800

177,653

Sun Life Financial, Inc.

13,200

503,255

Suncor Energy, Inc.

40,172

1,649,471

Tahoe Resources, Inc. (a)

4,900

129,831

TELUS Corp.

12,800

446,800

The Toronto-Dominion Bank

31,800

1,662,985

Tim Hortons, Inc. (Canada)

800

44,690

Tourmaline Oil Corp. (a)

4,700

221,260

TransCanada Corp.

12,100

607,025

Valeant Pharmaceuticals International (Canada) (a)

4,000

468,950

Veresen, Inc.

7,400

125,760

Vermilion Energy, Inc.

4,500

296,987

Common Stocks - continued

Shares

Value

Canada - continued

West Fraser Timber Co. Ltd.

2,000

$ 91,108

Yamana Gold, Inc.

2,600

22,176

TOTAL CANADA

25,597,988

Cayman Islands - 0.2%

Mindray Medical International Ltd. sponsored ADR

7,900

237,395

New Oriental Education & Technology Group, Inc. sponsored ADR

13,400

261,970

Tencent Holdings Ltd.

31,400

509,928

Uni-President China Holdings Ltd.

690,000

566,217

TOTAL CAYMAN ISLANDS

1,575,510

China - 0.1%

Ping An Insurance (Group) Co. of China Ltd. (H Shares)

70,000

594,790

Curacao - 0.2%

Schlumberger Ltd.

14,000

1,517,460

Denmark - 0.5%

Coloplast A/S Series B

4,800

406,796

Novo Nordisk A/S Series B

58,600

2,697,486

Vestas Wind Systems A/S (a)

11,100

502,153

TOTAL DENMARK

3,606,435

Finland - 0.3%

Amer Group PLC (A Shares)

24,800

489,824

Kesko Oyj

13,400

511,383

Rakentajain Konevuokraamo Oyj (B Shares)

24,304

495,649

Sampo Oyj (A Shares)

16,229

808,410

TOTAL FINLAND

2,305,266

France - 1.9%

Atos Origin SA

8,236

643,618

AXA SA

58,400

1,344,267

BNP Paribas SA

27,272

1,807,669

Bureau Veritas SA

28,200

726,903

Christian Dior SA

8,005

1,395,090

Coface SA

21,400

315,785

GDF Suez

52,450

1,351,989

Ipsos SA

699

18,949

Kering SA

3,000

642,543

Legrand SA

14,050

778,979

Publicis Groupe SA

10,424

758,631

Rexel SA

30,378

589,216

Common Stocks - continued

Shares

Value

France - continued

Technip SA

4,900

$ 452,405

Total SA

42,800

2,760,374

TOTAL FRANCE

13,586,418

Germany - 2.1%

adidas AG

8,100

644,379

BASF AG

18,893

1,964,189

Bayer AG

15,900

2,106,095

Beiersdorf AG

6,500

587,856

CompuGroup Medical AG

20,100

500,617

Continental AG

3,800

822,284

Daimler AG (Germany)

17,715

1,467,872

Deutsche Boerse AG

11,600

842,509

Deutsche Post AG

27,605

887,702

Deutsche Wohnen AG (Bearer)

34,690

753,213

Fresenius SE & Co. KGaA

4,700

704,247

GEA Group AG

13,696

617,037

HeidelbergCement Finance AG

9,366

697,686

KION Group AG

11,801

460,632

Linde AG

5,800

1,187,496

MLP AG

74,700

500,135

TOTAL GERMANY

14,743,949

Hong Kong - 0.8%

AIA Group Ltd.

292,800

1,568,647

Champion (REIT)

1,182,000

549,111

Cheung Kong Holdings Ltd.

40,000

772,780

Lenovo Group Ltd.

386,000

526,538

Power Assets Holdings Ltd.

60,000

535,933

Techtronic Industries Co. Ltd.

295,000

884,198

Wharf Holdings Ltd.

73,000

581,809

TOTAL HONG KONG

5,419,016

Ireland - 1.3%

Actavis PLC (a)

12,800

2,742,528

Alkermes PLC (a)

30,600

1,308,456

Covidien PLC

9,000

778,590

CRH PLC

37,400

872,936

DCC PLC (United Kingdom)

13,000

743,156

Greencore Group PLC

106,221

473,977

James Hardie Industries PLC CDI

56,475

701,344

Kingspan Group PLC (United Kingdom)

32,100

546,320

Common Stocks - continued

Shares

Value

Ireland - continued

Ryanair Holdings PLC sponsored ADR (a)

10,600

$ 561,694

Seagate Technology LLC

9,000

527,400

TOTAL IRELAND

9,256,401

Israel - 0.4%

Bezeq The Israeli Telecommunication Corp. Ltd.

212,300

396,523

Sarine Technologies Ltd.

487,500

1,109,119

Teva Pharmaceutical Industries Ltd. sponsored ADR

22,700

1,214,450

TOTAL ISRAEL

2,720,092

Italy - 0.3%

Astaldi SpA (e)

44,000

424,800

Banca Popolare dell'Emilia Romagna (a)

38,700

329,065

Beni Stabili SpA SIIQ

478,500

389,247

MARR SpA

21,031

348,922

Prada SpA

60,000

424,764

World Duty Free SpA (a)

45,416

518,746

TOTAL ITALY

2,435,544

Japan - 2.9%

AEON Financial Service Co. Ltd.

11,200

255,252

AEON Mall Co. Ltd.

11,880

278,390

Asahi Kasei Corp.

41,000

324,028

Bridgestone Corp.

10,800

389,776

Dai-ichi Mutual Life Insurance Co.

25,400

357,801

Daikin Industries Ltd.

8,400

576,904

Don Quijote Holdings Co. Ltd.

4,700

253,959

Fuji Heavy Industries Ltd.

17,600

501,905

Furukawa Electric Co. Ltd.

126,000

266,525

Hino Motors Ltd.

7,800

107,866

Hitachi Metals Ltd.

33,000

536,625

Hoya Corp.

21,400

692,901

INPEX Corp.

15,300

226,756

Itochu Corp.

28,600

364,156

JAFCO Co. Ltd.

8,900

343,568

Japan Tobacco, Inc.

19,000

668,183

JSR Corp.

11,800

203,455

Kajima Corp.

38,000

176,702

KDDI Corp.

13,200

758,775

Makino Milling Machine Co. Ltd.

41,000

332,009

Makita Corp.

4,000

236,588

Mitsubishi Electric Corp.

76,000

1,003,317

Mitsubishi Heavy Industries Ltd.

102,000

664,901

Common Stocks - continued

Shares

Value

Japan - continued

Mitsui & Co. Ltd.

13,900

$ 222,920

Mitsui Fudosan Co. Ltd.

10,000

330,238

Nihon Kohden Corp.

6,800

334,113

Nihon Parkerizing Co. Ltd.

9,800

216,325

Nippon Ceramic Co. Ltd.

13,900

221,211

Nippon Shinyaku Co. Ltd.

7,000

199,875

Nissan Motor Co. Ltd.

81,000

794,643

OBIC Co. Ltd.

5,200

184,596

ORIX Corp.

63,500

1,026,242

Rakuten, Inc.

42,600

559,465

ROHM Co. Ltd.

9,200

518,654

Shinsei Bank Ltd.

137,000

289,690

SoftBank Corp.

10,300

740,449

Stanley Electric Co. Ltd.

27,000

700,306

Sumitomo Mitsui Financial Group, Inc.

17,700

721,531

Sumitomo Mitsui Trust Holdings, Inc.

137,000

596,184

THK Co. Ltd.

14,400

346,539

Tokyo Tatemono Co. Ltd.

35,000

298,929

Toray Industries, Inc.

44,000

297,829

Tosoh Corp.

55,000

241,322

Toyota Motor Corp.

12,200

720,289

Welcia Holdings Co. Ltd.

6,000

384,177

Yamaha Motor Co. Ltd.

40,100

664,293

TOTAL JAPAN

20,130,162

Luxembourg - 0.1%

GAGFAH SA (a)

19,300

339,069

Samsonite International SA

163,800

507,604

TOTAL LUXEMBOURG

846,673

Netherlands - 0.7%

AerCap Holdings NV (a)

29,000

1,265,270

ING Groep NV (Certificaten Van Aandelen) (a)

101,100

1,313,045

Koninklijke Philips Electronics NV

34,900

1,075,638

LyondellBasell Industries NV Class A

6,000

637,500

Royal DSM NV

10,500

726,622

TOTAL NETHERLANDS

5,018,075

New Zealand - 0.1%

Fletcher Building Ltd.

41,528

317,954

Common Stocks - continued

Shares

Value

New Zealand - continued

Metro Performance Glass Ltd. (a)

75,706

$ 113,833

Telecom Corp. of New Zealand Ltd.

200,113

482,789

TOTAL NEW ZEALAND

914,576

Norway - 0.2%

DNB ASA

43,400

773,231

Telenor ASA

39,200

903,558

TOTAL NORWAY

1,676,789

Papua New Guinea - 0.1%

Oil Search Ltd. ADR

61,117

534,555

Portugal - 0.1%

CTT Correios de Portugal SA

31,459

334,895

Singapore - 0.0%

Great Eastern Holdings Ltd.

8,000

146,824

South Africa - 0.1%

Naspers Ltd. Class N

4,000

496,383

Spain - 0.5%

Criteria CaixaCorp SA

175,599

1,057,876

Hispania Activos Inmobiliarios SA (a)

21,500

290,775

Inditex SA

37,685

1,102,849

Repsol YPF SA

36,025

898,215

TOTAL SPAIN

3,349,715

Sweden - 0.7%

AF AB (B Shares)

25,624

429,964

Getinge AB (B Shares)

48,200

1,176,666

Investment AB Kinnevik (B Shares)

12,600

524,224

Nordea Bank AB

87,800

1,181,155

Svenska Handelsbanken AB (A Shares)

20,200

977,174

Swedish Match Co. AB

19,600

642,423

TOTAL SWEDEN

4,931,606

Switzerland - 2.6%

Aryzta AG

6,020

546,520

Baloise Holdings AG

5,160

623,459

Nestle SA

54,150

4,009,270

Partners Group Holding AG

2,489

625,023

Roche Holding AG (participation certificate)

18,674

5,419,302

Schindler Holding AG (participation certificate)

4,783

716,332

Sonova Holding AG Class B

1,815

282,611

Swatch Group AG (Bearer)

860

460,780

Common Stocks - continued

Shares

Value

Switzerland - continued

Syngenta AG (Switzerland)

2,589

$ 917,164

TE Connectivity Ltd.

44,000

2,723,160

UBS AG

73,952

1,270,609

Vontobel Holdings AG

15,592

559,339

TOTAL SWITZERLAND

18,153,569

United Kingdom - 4.7%

Aberdeen Asset Management PLC

145,243

1,014,695

Associated British Foods PLC

14,614

685,411

Babcock International Group PLC

42,430

786,548

Barclays PLC

456,244

1,729,481

BG Group PLC

81,700

1,611,064

BHP Billiton PLC

57,396

1,957,894

Brit PLC (a)

119,700

497,140

British American Tobacco PLC (United Kingdom)

46,100

2,700,650

Bunzl PLC

25,600

687,638

Compass Group PLC

68,235

1,114,571

Dechra Pharmaceuticals PLC

44,400

520,226

Diageo PLC

46,802

1,405,574

Elementis PLC

74,300

338,690

Galliford Try PLC

22,890

492,726

GlaxoSmithKline PLC

89,859

2,165,490

HSBC Holdings PLC (United Kingdom)

95,759

1,026,625

IMI PLC

24,135

577,387

ITV PLC

268,100

944,646

Jazztel PLC (a)

39,000

525,885

London Stock Exchange Group PLC

21,800

713,280

Meggitt PLC

75,740

650,228

Mondi PLC

27,000

475,442

Next PLC

8,200

937,243

Prudential PLC

74,611

1,714,849

Rolls-Royce Group PLC

61,027

1,071,532

Royal & Sun Alliance Insurance Group PLC

88,785

687,572

Royal Dutch Shell PLC Class B (United Kingdom)

45,277

1,949,709

Schroders PLC

15,100

609,291

Smith & Nephew PLC

48,868

841,004

Spectris PLC

13,200

425,208

St. James's Place Capital PLC

44,600

547,041

Tullow Oil PLC

53,500

658,011

Vodafone Group PLC

207,763

691,871

TOTAL UNITED KINGDOM

32,754,622

Common Stocks - continued

Shares

Value

United States of America - 28.9%

Adobe Systems, Inc. (a)

144,500

$ 9,986,395

American Airlines Group, Inc.

145,000

5,633,250

American Express Co.

11,000

968,000

Ameriprise Financial, Inc.

89,700

10,728,120

Applied Materials, Inc.

95,000

1,991,200

AutoZone, Inc. (a)

3,200

1,654,496

Biogen Idec, Inc. (a)

8,300

2,775,437

Bluebird Bio, Inc. (a)

1,300

43,420

Boston Properties, Inc.

1,600

191,120

Boston Scientific Corp. (a)

27,500

351,450

Cabot Oil & Gas Corp.

261,000

8,599,950

Caterpillar, Inc.

7,000

705,250

CBRE Group, Inc. (a)

52,000

1,603,680

Celanese Corp. Class A

21,000

1,222,410

Chipotle Mexican Grill, Inc. (a)

1,200

807,000

Church & Dwight Co., Inc.

4,000

256,720

Cimarex Energy Co.

5,000

695,100

Colgate-Palmolive Co.

7,675

486,595

Comcast Corp. Class A

103,000

5,534,190

Computer Sciences Corp.

5,000

311,950

Continental Resources, Inc. (a)

5,500

807,290

Cummins, Inc.

67,300

9,380,947

CVS Caremark Corp.

82,500

6,299,700

Devon Energy Corp.

33,000

2,491,500

Diamondback Energy, Inc. (a)

2,000

164,460

Dynegy, Inc. (a)

61,900

1,643,445

EOG Resources, Inc.

20,000

2,188,800

Estee Lauder Companies, Inc. Class A

18,000

1,322,280

Facebook, Inc. Class A (a)

78,600

5,710,290

Fidelity National Information Services, Inc.

55,000

3,102,000

Freeport-McMoRan Copper & Gold, Inc.

23,000

856,060

Google, Inc. Class A (a)

18,900

10,953,495

Halliburton Co.

97,000

6,692,030

Illumina, Inc. (a)

4,400

703,604

inContact, Inc. (a)

47,000

375,530

Interactive Intelligence Group, Inc. (a)

3,000

136,110

Intercept Pharmaceuticals, Inc. (a)

9,900

2,300,364

InterMune, Inc. (a)

11,000

482,570

Isis Pharmaceuticals, Inc. (a)

3,700

114,663

JetBlue Airways Corp. (a)

44,000

471,680

Johnson & Johnson

30,000

3,002,700

Las Vegas Sands Corp.

3,000

221,550

Common Stocks - continued

Shares

Value

United States of America - continued

Marriott International, Inc. Class A

63,000

$ 4,076,730

MasterCard, Inc. Class A

12,000

889,800

McGraw Hill Financial, Inc.

141,000

11,311,020

Memorial Resource Development Corp.

11,900

273,462

Micron Technology, Inc. (a)

89,000

2,718,950

Microsoft Corp.

167,000

7,207,720

Moody's Corp.

26,000

2,262,000

MPLX LP

19,000

1,078,250

Neurocrine Biosciences, Inc. (a)

13,000

176,540

Newfield Exploration Co. (a)

88,000

3,546,400

NextEra Energy Partners LP

30,300

1,031,412

Noble Energy, Inc.

48,000

3,191,520

Norfolk Southern Corp.

61,900

6,292,754

Oracle Corp.

60,600

2,447,634

Philip Morris International, Inc.

6,000

492,060

Phillips 66 Partners LP

19,000

1,215,050

Piedmont Office Realty Trust, Inc. Class A

22,000

427,900

Pioneer Natural Resources Co.

10,300

2,281,038

Prestige Brands Holdings, Inc. (a)

58,000

1,786,400

priceline.com, Inc. (a)

400

496,980

QUALCOMM, Inc.

8,100

596,970

Ralph Lauren Corp.

4,500

701,370

Range Resources Corp.

80,000

6,047,200

salesforce.com, Inc. (a)

34,300

1,860,775

Sempra Energy

14,000

1,395,940

SL Green Realty Corp.

1,000

107,800

Spectra Energy Corp.

17,000

695,640

Spirit Airlines, Inc. (a)

21,300

1,393,446

Stericycle, Inc. (a)

3,000

352,950

SVB Financial Group (a)

5,000

545,100

T. Rowe Price Group, Inc.

9,000

698,940

Targa Resources Corp.

6,300

803,250

The Cooper Companies, Inc.

13,600

2,187,968

The Walt Disney Co.

21,000

1,803,480

Thermo Fisher Scientific, Inc.

26,000

3,159,000

TJX Companies, Inc.

6,700

357,043

Twitter, Inc.

21,000

948,990

Ultragenyx Pharmaceutical, Inc.

1,100

48,070

Union Pacific Corp.

47,800

4,699,218

Wells Fargo & Co.

63,000

3,206,700

Western Digital Corp.

8,000

798,640

Workday, Inc. Class A (a)

600

50,304

Common Stocks - continued

Shares

Value

United States of America - continued

Wyndham Worldwide Corp.

6,000

$ 453,300

Zebra Technologies Corp. Class A (a)

41,000

3,282,870

TOTAL UNITED STATES OF AMERICA

203,365,385

TOTAL COMMON STOCKS

(Cost $354,078,115)


400,190,851

Nonconvertible Preferred Stocks - 0.2%

 

 

 

 

Germany - 0.2%

Volkswagen AG

5,900

1,379,014

United Kingdom - 0.0%

Rolls-Royce Group PLC (C Shares)

20,581,153

34,747

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $949,186)


1,413,761

Nonconvertible Bonds - 9.5%

 

Principal Amount (d)

 

Australia - 0.0%

Rio Tinto Finance (U.S.A.) Ltd. 9% 5/1/19

$ 250,000

324,892

Bailiwick of Jersey - 0.3%

AA Bond Co. Ltd.:

3.781% 7/31/43 (Reg S.)

GBP

500,000

851,779

4.7201% 7/31/18 (Reg. S)

GBP

600,000

1,065,896

TOTAL BAILIWICK OF JERSEY

1,917,675

British Virgin Islands - 0.1%

CNOOC Finance 2011 Ltd. 4.25% 1/26/21

400,000

422,364

Canada - 0.0%

The Toronto Dominion Bank 2.375% 10/19/16

250,000

258,055

Cayman Islands - 0.2%

Bishopgate Asset Finance Ltd. 4.808% 8/14/44

GBP

183,240

295,081

IPIC GMTN Ltd.:

5.875% 3/14/21 (Reg. S)

EUR

175,000

294,089

6.875% 3/14/26

GBP

150,000

317,822

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

GBP

100,000

217,480

TOTAL CAYMAN ISLANDS

1,124,472

Denmark - 0.2%

Nykredit Realkredit A/S 4% 6/3/36 (Reg. S) (h)

EUR

1,150,000

1,563,006

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

France - 0.6%

Arkema SA 3.85% 4/30/20

EUR

300,000

$ 456,348

Banque Federative du Credit Mutuel SA 2.5% 10/29/18 (f)

$ 350,000

352,762

Bureau Veritas SA 3.125% 1/21/21 (Reg. S)

EUR

500,000

713,474

EDF SA 4.625% 9/11/24

EUR

150,000

248,135

Eutelsat SA 2.625% 1/13/20 (Reg. S)

EUR

200,000

283,060

HSBC SFH France SA 2% 10/16/23

EUR

800,000

1,125,678

Iliad SA 4.875% 6/1/16

EUR

500,000

713,087

TOTAL FRANCE

3,892,544

Germany - 0.2%

ProSiebenSat.1 Media AG 2.625% 4/15/21 (Reg S.)

EUR

550,000

747,274

Vier Gas Transport GmbH:

2.875% 6/12/25 (Reg. S)

EUR

200,000

287,791

3.125% 7/10/23

EUR

250,000

369,136

TOTAL GERMANY

1,404,201

Hong Kong - 0.1%

Wharf Finance Ltd. 4.625% 2/8/17

400,000

423,865

Ireland - 0.1%

Aquarius & Investments PLC 4.25% 10/2/43 (h)

EUR

150,000

217,825

GE Capital UK Funding 4.375% 7/31/19

GBP

450,000

814,200

TOTAL IRELAND

1,032,025

Italy - 0.3%

Assicurazioni Generali SpA 2.875% 1/14/20 (Reg. S)

EUR

300,000

427,579

Banca Monte dei Paschi di Siena SpA 2.875% 4/16/21 (Reg S.)

EUR

300,000

417,345

Banco Popolare Societa Cooperativa 3.5% 3/14/19

EUR

600,000

819,250

Intesa Sanpaolo SpA 4.875% 7/10/15

EUR

300,000

416,760

Unione di Banche Italiane ScpA 4.5% 2/22/16

EUR

200,000

283,762

TOTAL ITALY

2,364,696

Japan - 0.1%

Sumitomo Life Insurance Co. 6.5% 9/20/73 (Reg. S) (h)

400,000

471,000

Korea (South) - 0.2%

Export-Import Bank of Korea 5% 4/11/22

200,000

224,110

Korea Resources Corp. 2.125% 5/2/18 (Reg. S)

200,000

198,560

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

Korea (South) - continued

National Agricultural Cooperative Federation 4.25% 1/28/16 (Reg. S)

$ 450,000

$ 469,567

Nonghyup Bank 2.625% 11/1/18 (Reg. S)

200,000

201,435

TOTAL KOREA (SOUTH)

1,093,672

Netherlands - 0.6%

Achmea BV 2.5% 11/19/20

EUR

500,000

703,544

Coca Cola HBC Finance BV 2.375% 6/18/20

EUR

400,000

559,754

Deutsche Annington Finance BV:

3.2% 10/2/17 (f)

350,000

360,389

5% 10/2/23 (f)

450,000

481,298

Heineken NV 1.4% 10/1/17 (f)

550,000

548,245

LYB International Finance BV:

4% 7/15/23

500,000

520,481

4.875% 3/15/44

500,000

521,818

Robert Bosch Investment NL BV 1.625% 5/24/21

EUR

200,000

274,656

Volkswagen International Finance NV 2.375% 3/22/17 (f)

400,000

410,924

Wuerth Finance International BV 1.75% 5/21/20

EUR

150,000

208,766

TOTAL NETHERLANDS

4,589,875

Norway - 0.1%

DNB Boligkreditt A/S 1.45% 3/21/19 (f)

400,000

395,639

Singapore - 0.1%

CMT MTN Pte. Ltd. 3.731% 3/21/18 (Reg. S)

400,000

418,487

PSA International Pte Ltd. 4.625% 9/11/19 (Reg. S)

250,000

277,376

TOTAL SINGAPORE

695,863

Slovakia - 0.2%

SPP Distribucia A/S 2.625% 6/23/21 (Reg S.)

EUR

1,250,000

1,684,960

Spain - 0.3%

BBVA Subordinated Capital SAU 3.5% 4/11/24 (Reg S.) (h)

EUR

1,200,000

1,656,438

BBVA U.S. Senior SA 4.664% 10/9/15

500,000

521,884

TOTAL SPAIN

2,178,322

Sweden - 0.1%

Akzo Nobel Sweden Finance AB 2.625% 7/27/22

EUR

200,000

284,918

Svenska Handelsbanken AB 2.656% 1/15/24 (h)

EUR

441,000

609,830

TOTAL SWEDEN

894,748

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

Switzerland - 0.1%

Credit Suisse Group 5.75% 9/18/25 (Reg. S) (h)

EUR

300,000

$ 447,912

United Arab Emirates - 0.0%

Abu Dhabi National Energy Co. 3.625% 1/12/23 (Reg. S)

$ 300,000

300,750

United Kingdom - 1.5%

Abbey National Treasury Services PLC:

2% 1/14/19 (Reg. S)

EUR

550,000

764,419

3.625% 9/8/16

EUR

400,000

571,938

Barclays Bank PLC:

4.25% 1/12/22

GBP

350,000

642,716

6.75% 1/16/23 (h)

GBP

300,000

552,930

BAT International Finance PLC 3.25% 6/7/22 (f)

200,000

199,089

Capital Shopping Centres Group PLC 3.875% 3/17/23

GBP

300,000

502,901

Centrica PLC 5.375% 10/16/43 (f)

200,000

213,294

Channel Link Enterprises Finance PLC 3.559% 6/30/50 (h)

EUR

950,000

1,262,585

Direct Line Insurance Group PLC 9.25% 4/27/42 (h)

GBP

100,000

212,177

Eastern Power Networks PLC 6.25% 11/12/36

GBP

160,000

334,290

Eversholt Funding PLC 5.831% 12/2/20

GBP

100,000

190,205

Experian Finance PLC:

2.375% 6/15/17 (f)

425,000

431,731

4.75% 2/4/20

EUR

450,000

706,610

First Hydro Finance PLC 9% 7/31/21

GBP

320,000

711,193

Ford Credit Europe PLC:

1.625% 9/9/16 (Reg. S)

EUR

150,000

204,476

1.875% 5/12/16

EUR

300,000

409,859

Great Rolling Stock Co. Ltd. 6.25% 7/27/20

GBP

350,000

674,757

Imperial Tobacco Finance 7.25% 9/15/14

EUR

150,000

202,286

Lloyds Bank PLC 2.3% 11/27/18

350,000

352,771

Mondi Finance PLC 3.375% 9/28/20

EUR

350,000

507,795

Motability Operations Group PLC 3.75% 11/29/17

EUR

300,000

440,703

Tesco PLC 5.875% 9/12/16

EUR

100,000

148,436

Wales & West Utilities Finance PLC 6.75% 12/17/36 (h)

GBP

150,000

287,808

Western Power Distribution PLC 5.75% 3/23/40

GBP

150,000

300,302

TOTAL UNITED KINGDOM

10,825,271

United States of America - 4.1%

AbbVie, Inc. 1.75% 11/6/17

400,000

400,075

Altria Group, Inc.:

2.85% 8/9/22

500,000

477,691

9.25% 8/6/19

134,000

175,685

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

United States of America - continued

AMB Property LP 3% 1/18/22

EUR

550,000

$ 789,276

American Express Co. 1.55% 5/22/18

$ 550,000

544,041

American International Group, Inc. 5% 4/26/23

GBP

200,000

371,085

Anadarko Petroleum Corp. 3.45% 7/15/24

900,000

891,872

AutoZone, Inc. 3.125% 7/15/23

400,000

387,264

Chevron Corp.:

2.427% 6/24/20

200,000

201,463

3.191% 6/24/23

300,000

302,661

Citigroup, Inc.:

2.375% 5/22/24 (Reg. S)

EUR

1,100,000

1,508,088

4.5% 1/14/22

150,000

161,447

Comcast Corp.:

3.6% 3/1/24

350,000

358,088

4.75% 3/1/44

350,000

365,201

DIRECTV Holdings LLC/DIRECTV Financing, Inc. 3.8% 3/15/22

600,000

614,610

Discovery Communications LLC 3.25% 4/1/23

500,000

484,774

Dover Corp. 2.125% 12/1/20

EUR

350,000

487,905

Enbridge Energy Partners LP 5.2% 3/15/20

250,000

280,099

Frontier Oil Corp. 6.875% 11/15/18

250,000

261,875

General Electric Capital Corp. 4.65% 10/17/21

250,000

276,638

General Electric Co.:

4.5% 3/11/44

650,000

673,486

5.25% 12/6/17

550,000

615,641

Gilead Sciences, Inc.:

3.7% 4/1/24

550,000

563,801

4.8% 4/1/44

550,000

585,710

Goldman Sachs Group, Inc. 2.625% 8/19/20

EUR

450,000

640,225

Illinois Tool Works, Inc. 3% 5/19/34

EUR

600,000

825,243

Jefferies Group, Inc. 2.375% 5/20/20 (Reg. S)

EUR

1,150,000

1,551,780

Metropolitan Life Global Funding I 3% 1/10/23 (f)

350,000

346,050

Mondelez International, Inc.:

1.125% 1/26/17

EUR

850,000

1,147,503

2.375% 1/26/21

EUR

550,000

772,599

Morgan Stanley 2.375% 3/31/21 (Reg. S)

EUR

2,200,000

3,072,001

NBCUniversal, Inc. 4.375% 4/1/21

500,000

547,396

Philip Morris International, Inc.:

2.125% 5/30/19

EUR

100,000

140,790

2.875% 5/30/24

EUR

150,000

216,366

Plains All American Pipeline LP/PAA Finance Corp. 8.75% 5/1/19

100,000

127,727

Procter & Gamble Co. 2% 11/5/21

EUR

200,000

280,847

Nonconvertible Bonds - continued

 

Principal Amount (d)

Value

United States of America - continued

Prologis LP 3.375% 2/20/24

EUR

450,000

$ 649,188

Qwest Corp. 6.75% 12/1/21

$ 650,000

747,271

Reynolds American, Inc. 1.05% 10/30/15

200,000

200,009

Roche Holdings, Inc. 6% 3/1/19 (f)

106,000

123,747

SABMiller Holdings, Inc.:

2.2% 8/1/18 (f)

450,000

452,468

2.45% 1/15/17 (f)

400,000

410,808

3.75% 1/15/22 (f)

200,000

207,054

Simon Property Group LP 2.375% 10/2/20

EUR

500,000

706,393

Southeast Supply Header LLC 4.85% 8/15/14 (f)

300,000

300,308

The Coca-Cola Co. 3.3% 9/1/21

350,000

364,097

U.S. Bancorp 3% 3/15/22

500,000

502,817

Verizon Communications, Inc. 5.15% 9/15/23

350,000

386,845

Viacom, Inc. 4.25% 9/1/23

250,000

259,446

Wal-Mart Stores, Inc. 5.625% 4/15/41

500,000

605,158

Walt Disney Co.:

0.45% 12/1/15

350,000

349,925

2.35% 12/1/22

150,000

143,334

Wells Fargo & Co. 3.676% 6/15/16

450,000

473,381

William Wrigley Jr. Co.:

2% 10/20/17 (f)

150,000

151,672

2.9% 10/21/19 (f)

150,000

152,790

TOTAL UNITED STATES OF AMERICA

28,633,714

TOTAL NONCONVERTIBLE BONDS

(Cost $63,790,090)


66,939,521

Government Obligations - 25.7%

 

Canada - 0.7%

Canadian Government 1.5% 6/1/23

CAD

6,000,000

5,256,019

Germany - 4.0%

German Federal Republic:

Inflation-Indexed Bond 0.1% 4/15/23

EUR

3,111,390

4,333,919

0% 12/12/14

EUR

5,050,000

6,761,188

0.25% 4/13/18

EUR

2,050,000

2,753,480

0.5% 10/13/17

EUR

150,000

203,505

1.5% 5/15/24

EUR

3,750,000

5,169,620

2.5% 7/4/44

EUR

2,200,000

3,228,128

Government Obligations - continued

 

Principal
Amount (d)

Value

Germany - continued

German Federal Republic: - continued

4.25% 7/4/17

EUR

200,000

$ 300,469

4.75% 7/4/40

EUR

2,600,000

5,372,105

TOTAL GERMANY

28,122,414

Israel - 0.2%

Israeli State 2.875% 1/29/24 (Reg.S)

EUR

850,000

1,212,175

Italy - 3.5%

Buoni Poliennali del Tesoro:

2.5% 5/1/19

EUR

2,200,000

3,114,416

4.5% 3/1/24

EUR

3,500,000

5,444,651

5.5% 11/1/22

EUR

5,250,000

8,689,306

Italian Republic Inflation-Indexed Bond 2.25% 4/22/17

EUR

5,503,740

7,681,847

TOTAL ITALY

24,930,220

Japan - 10.7%

Japan Government:

0.1% 2/15/16

JPY

1,680,000,000

16,342,314

0.3% 6/20/15

JPY

1,600,000,000

15,589,443

1.3% 3/20/20

JPY

550,000,000

5,680,097

1.3% 6/20/20

JPY

781,000,000

8,081,750

1.3% 3/20/21

JPY

802,750,000

8,340,391

1.7% 9/20/32

JPY

1,014,450,000

10,565,774

2% 9/20/40

JPY

981,000,000

10,329,945

TOTAL JAPAN

74,929,714

Netherlands - 0.4%

Dutch Government:

1.75% 7/15/23 (Reg. S)

EUR

800,000

1,119,756

2.75% 1/15/15

EUR

1,250,000

1,694,153

TOTAL NETHERLANDS

2,813,909

Spain - 1.6%

Spanish Kingdom:

3.8% 4/30/24 (Reg.S)

EUR

6,000,000

8,911,324

5.5% 4/30/21

EUR

1,400,000

2,323,972

TOTAL SPAIN

11,235,296

Government Obligations - continued

 

Principal Amount (d)

Value

United Kingdom - 1.0%

United Kingdom, Great Britain and Northern Ireland:

3.25% 1/22/44

GBP

1,150,000

$ 1,918,514

4% 3/7/22

GBP

1,400,000

2,630,260

5% 9/7/14

GBP

1,550,000

2,628,798

6% 12/7/28

GBP

50,000

114,544

TOTAL UNITED KINGDOM

7,292,116

United States of America - 3.6%

U.S. Treasury Bonds:

2.75% 8/15/42

$ 650,000

582,969

2.75% 11/15/42

900,000

805,640

3% 5/15/42

100,000

94,531

3.125% 11/15/41

150,000

145,711

U.S. Treasury Notes:

0.125% 12/31/14

500,000

500,117

0.625% 9/30/17

1,100,000

1,082,641

1% 3/31/17

350,000

351,066

1.375% 9/30/18

5,150,000

5,112,580

1.5% 2/28/19

1,900,000

1,884,859

1.75% 5/15/23

10,900,000

10,273,250

2.75% 11/15/23

4,250,000

4,335,663

TOTAL UNITED STATES OF AMERICA

25,169,027

TOTAL GOVERNMENT OBLIGATIONS

(Cost $180,761,511)


180,960,890

Asset-Backed Securities - 0.1%

 

Bavarian Sky SA 0.331% 6/20/20 (h)
(Cost $571,955)

EUR

441,988


591,800

Collateralized Mortgage Obligations - 0.0%

 

Private Sponsor - 0.0%

Granite Master Issuer PLC Series 2005-1 Class A5, 0.271% 12/20/54 (h)
(Cost $142,495)

EUR

115,278


153,406

Commercial Mortgage Securities - 0.0%

 

Principal Amount (d)

Value

United Kingdom - 0.0%

Eddystone Finance PLC Series 2006-1 Class A2, 1.0806% 4/19/21 (h)
(Cost $188,473)

GBP

123,942

$ 206,113

Supranational Obligations - 0.1%

 

European Investment Bank 1.75% 3/15/17
(Cost $995,470)

$ 1,000,000


1,018,990

Fixed-Income Funds - 1.3%

Shares

 

Fidelity Emerging Markets Debt Central Fund (i)

841,996

8,748,336

Fidelity High Income Central Fund 1 (i)

53

5,459

TOTAL FIXED-INCOME FUNDS

(Cost $8,513,978)


8,753,795

Preferred Securities - 0.4%

 

Principal Amount (d)

 

Cayman Islands - 0.1%

SMFG Preferred Capital GBP 2 Ltd. 10.231% (Reg. S) (g)(h)

GBP

250,000

623,355

Japan - 0.1%

Fukoku Mutual Life Insurance Co. 6.5% (Reg. S) (g)(h)

$ 550,000

651,108

Switzerland - 0.2%

UBS AG 4.75% 2/12/26 (Reg. S) (h)

EUR

800,000

1,164,961

TOTAL PREFERRED SECURITIES

(Cost $2,272,138)


2,439,424

Money Market Funds - 6.3%

Shares

Value

Fidelity Cash Central Fund, 0.11% (b)

43,112,859

$ 43,112,859

Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)

1,050,245

1,050,245

TOTAL MONEY MARKET FUNDS

(Cost $44,163,104)


44,163,104

TOTAL INVESTMENT PORTFOLIO - 100.5%

(Cost $656,426,515)

706,831,655

NET OTHER ASSETS (LIABILITIES) - (0.5)%

(3,709,661)

NET ASSETS - 100%

$ 703,121,994

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

(d) 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 $5,538,268 or 0.8% of net assets.

(g) Security is perpetual in nature with no stated maturity date.

(h) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(i) Affiliated fund that is generally 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 website 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 and/or advisor.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

$ 28,225

Fidelity Emerging Markets Debt Central Fund

294,720

Fidelity High Income Central Fund 1

67,474

Fidelity Securities Lending Cash Central Fund

50,901

Total

$ 441,320

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 Debt Central Fund

$ 2,220,595

$ 8,311,317

$ 1,992,802

$ 8,748,336

6.9%

Fidelity High Income Central Fund 1

-

4,062,088

4,088,706

5,459

0.0%

Total

$ 2,220,595

$ 12,373,405

$ 6,081,508

$ 8,753,795

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

The following is a summary of the inputs used, as of July 31, 2014, involving the Fund's assets and liabilities carried at fair 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:

Consumer Discretionary

$ 38,841,520

$ 31,339,565

$ 7,501,955

$ -

Consumer Staples

25,522,631

13,498,035

12,024,596

-

Energy

58,718,041

51,635,583

7,082,458

-

Financials

83,762,778

59,485,363

24,277,415

-

Health Care

43,668,660

30,419,844

13,248,816

-

Industrials

55,450,365

46,162,868

9,287,497

-

Information Technology

62,337,090

58,459,614

3,877,476

-

Materials

21,099,426

11,166,862

9,932,564

-

Telecommunication Services

5,996,788

3,805,693

2,191,095

-

Utilities

6,207,313

5,422,786

784,527

-

Corporate Bonds

66,939,521

-

66,939,521

-

Government Obligations

180,960,890

-

180,960,890

-

Asset-Backed Securities

591,800

-

591,800

-

Collateralized Mortgage Obligations

153,406

-

153,406

-

Commercial Mortgage Securities

206,113

-

206,113

-

Supranational Obligations

1,018,990

-

1,018,990

-

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Fixed-Income Funds

$ 8,753,795

$ 8,753,795

$ -

$ -

Preferred Securities

2,439,424

-

2,439,424

-

Money Market Funds

44,163,104

44,163,104

-

-

Total Investments in Securities:

$ 706,831,655

$ 364,313,112

$ 342,518,543

$ -

The following is a summary of transfers between Level 1 and Level 2 for the period ended July 31, 2014. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing:

Transfers

Total

Level 1 to Level 2

$ 17,355,186

Level 2 to Level 1

$ 0

Income Tax Information

At July 31, 2014, the cost of investment securities for income tax purposes was $657,466,011. Net unrealized appreciation aggregated $49,365,644, of which $61,619,232 related to appreciated investment securities and $12,253,588 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds, foreign government and government agency obligations, preferred securities, supranational obligations and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. Asset backed securities, collateralized mortgage obligations and commercial mortgage securities are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

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

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/Stephanie J. Dorsey

 

Stephanie J. Dorsey

 

President and Treasurer

 

 

Date:

September 29, 2014

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/Stephanie J. Dorsey

 

Stephanie J. Dorsey

 

President and Treasurer

 

 

Date:

September 29, 2014

By:

/s/Howard J. Galligan III

 

Howard J. Galligan III

 

Chief Financial Officer

 

 

Date:

September 29, 2014