NPORT-EX 2 QTLY_6286_20220331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Emerging Markets Debt Local Currency Central Fund
March 31, 2022
MDL-NPRT1-0522
1.9899758.101
Foreign Government and Government Agency Obligations - 82.0%
 
  
Principal
Amount (a)
 
Value ($)
 
Brazil - 10.0%
 
  
  
Brazil Letras Do Tesouro Nacio, yield at date of purchase 5.1772% to 6.2765% 7/1/23 to 1/1/24
BRL
15,500,000
2,783,363
Brazilian Federative Republic:
  
  
  
 10% 1/1/23
BRL
9,000,000
1,855,102
 10% 1/1/25
BRL
12,000,000
2,434,362
 10% 1/1/27
BRL
4,250,000
849,592
 10% 1/1/29
BRL
3,500,000
687,015
 10% 1/1/31
BRL
2,000,000
385,448
TOTAL BRAZIL
  
  
8,994,882
Chile - 2.4%
 
  
  
Chilean Republic:
  
  
  
 4% 3/1/23 (Reg. S) (b)
CLP
400,000,000
495,834
 4.5% 3/1/26
CLP
695,000,000
822,513
 4.7% 9/1/30 (Reg. S) (b)
CLP
200,000,000
230,204
 5% 3/1/35
CLP
455,000,000
521,885
 6% 1/1/43
CLP
75,000,000
94,732
TOTAL CHILE
  
  
2,165,168
China - 10.7%
 
  
  
Peoples Republic of China:
  
  
  
 2.68% 5/21/30
CNY
19,000,000
2,945,498
 2.88% 11/5/23
CNY
18,950,000
3,014,054
 3.28% 12/3/27
CNY
20,000,000
3,249,642
 3.81% 9/14/50
CNY
2,500,000
419,821
TOTAL CHINA
  
  
9,629,015
Colombia - 4.5%
 
  
  
Colombian Republic:
  
  
  
 5.75% 11/3/27
COP
3,350,000,000
751,984
 6% 4/28/28
COP
500,000,000
112,100
 7% 6/30/32
COP
5,050,000,000
1,104,182
 7.25% 10/26/50
COP
650,000,000
127,465
 7.5% 8/26/26
COP
3,400,000,000
843,900
 10% 7/24/24
COP
4,200,000,000
1,141,120
TOTAL COLOMBIA
  
  
4,080,751
Czech Republic - 2.9%
 
  
  
Czech Republic:
  
  
  
 0.95% 5/15/30 (Reg. S)
CZK
24,750,000
901,440
 1.2% 3/13/31
CZK
25,000,000
914,035
 2% 10/13/33
CZK
22,000,000
836,723
TOTAL CZECH REPUBLIC
  
  
2,652,198
Dominican Republic - 1.4%
 
  
  
Dominican Republic:
  
  
  
 8.9% 2/15/23(Reg. S)
DOP
46,000,000
849,725
 9.75% 6/5/26 (Reg. S)
DOP
20,000,000
368,015
TOTAL DOMINICAN REPUBLIC
  
  
1,217,740
Egypt - 1.1%
 
  
  
Arab Republic of Egypt:
  
  
  
 14.06% 1/12/26
EGP
4,000,000
213,509
 14.531% 9/14/24
EGP
3,750,000
203,160
 14.556% 10/13/27
EGP
7,000,000
378,006
 15.9% 7/2/24
EGP
3,750,000
208,809
TOTAL EGYPT
  
  
1,003,484
Hungary - 2.1%
 
  
  
Hungarian Republic:
  
  
  
 2.25% 6/22/34
HUF
100,000,000
204,935
 3% 6/26/24
HUF
75,000,000
209,954
 3% 10/27/38
HUF
160,000,000
332,353
 3.25% 10/22/31
HUF
223,000,000
537,277
 6.75% 10/22/28
HUF
198,000,000
608,690
TOTAL HUNGARY
  
  
1,893,209
Indonesia - 9.7%
 
  
  
Indonesian Republic:
  
  
  
 6.5% 6/15/25
IDR
12,750,000,000
923,681
 7.5% 4/15/40
IDR
12,000,000,000
850,966
 8.125% 5/15/24
IDR
2,500,000,000
186,945
 8.25% 5/15/29
IDR
26,000,000,000
1,970,479
 8.25% 5/15/36
IDR
8,750,000,000
661,010
 8.375% 9/15/26
IDR
32,400,000,000
2,497,253
 8.375% 3/15/34
IDR
15,800,000,000
1,205,695
 8.375% 4/15/39
IDR
6,000,000,000
462,037
TOTAL INDONESIA
  
  
8,758,066
Kazakhstan - 0.9%
 
  
  
Kazakhstan Republic:
  
  
  
 7.2% 5/27/25
KZT
200,000,000
339,859
 8.05% 5/20/24
KZT
140,000,000
260,650
 10.5% 8/4/26
KZT
90,000,000
164,441
TOTAL KAZAKHSTAN
  
  
764,950
Malaysia - 4.3%
 
  
  
Malaysian Government:
  
  
  
 3.828% 7/5/34
MYR
4,450,000
1,015,610
 3.885% 8/15/29
MYR
4,800,000
1,140,277
 4.065% 6/15/50
MYR
3,750,000
824,006
 4.762% 4/7/37
MYR
3,550,000
893,441
TOTAL MALAYSIA
  
  
3,873,334
Mexico - 8.8%
 
  
  
United Mexican States:
  
  
  
 5.75% 3/5/26
MXN
53,750,000
2,464,643
 7.75% 11/23/34
MXN
4,500,000
216,841
 7.75% 11/13/42
MXN
38,250,000
1,798,380
 8% 12/7/23
MXN
26,000,000
1,299,886
 8.5% 5/31/29
MXN
43,000,000
2,182,493
TOTAL MEXICO
  
  
7,962,243
Peru - 2.4%
 
  
  
Peruvian Republic:
  
  
  
 5.35% 8/12/40
PEN
500,000
112,023
 5.4% 8/12/34(Reg. S)
PEN
3,250,000
773,643
 6.35% 8/12/28
PEN
2,825,000
765,557
 6.95% 8/12/31
PEN
1,750,000
487,133
TOTAL PERU
  
  
2,138,356
Philippines - 0.2%
 
  
  
Philippine Republic 6.25% 1/14/36
PHP
10,000,000
200,264
Poland - 4.5%
 
  
  
Polish Government:
  
  
  
 2.5% 1/25/23
PLN
2,750,000
641,786
 2.5% 7/25/26
PLN
6,950,000
1,460,000
 2.75% 10/25/29
PLN
9,500,000
1,925,571
TOTAL POLAND
  
  
4,027,357
Romania - 1.7%
 
  
  
Romanian Republic:
  
  
  
 3.65% 9/24/31
RON
2,475,000
456,769
 4.25% 6/28/23
RON
3,750,000
831,822
 5% 2/12/29
RON
1,000,000
210,261
TOTAL ROMANIA
  
  
1,498,852
Russia - 0.1%
 
  
  
Ministry of Finance of the Russian Federation:
  
  
  
 6.9% 5/23/29 (c)
RUB
45,000,000
16,615
 7.05% 1/19/28 (c)
RUB
42,750,000
15,785
 7.25% 5/10/34 (c)
RUB
61,000,000
22,523
 7.7% 3/16/39 (c)
RUB
31,500,000
11,631
 8.5% 9/17/31 (c)
RUB
141,000,000
52,062
TOTAL RUSSIA
  
  
118,616
South Africa - 8.9%
 
  
  
South African Republic:
  
  
  
 6.5% 2/28/41
ZAR
29,000,000
1,330,423
 7% 2/28/31
ZAR
4,500,000
256,908
 8% 1/31/30
ZAR
53,500,000
3,345,762
 8.75% 2/28/48
ZAR
24,500,000
1,407,700
 8.875% 2/28/35
ZAR
26,500,000
1,630,953
TOTAL SOUTH AFRICA
  
  
7,971,746
Thailand - 4.3%
 
  
  
Kingdom of Thailand:
  
  
  
 1.585% 12/17/35
THB
11,000,000
280,988
 1.6% 12/17/29
THB
24,000,000
689,537
 1.6% 6/17/35
THB
36,250,000
938,708
 2% 12/17/22
THB
6,000,000
182,193
 2.875% 6/17/46
THB
4,500,000
121,783
 3.3% 6/17/38
THB
35,250,000
1,079,738
 4.875% 6/22/29
THB
15,000,000
533,116
TOTAL THAILAND
  
  
3,826,063
Turkey - 0.6%
 
  
  
Turkish Republic:
  
  
  
 8% 3/12/25
TRY
7,250,000
332,314
 11% 2/24/27
TRY
750,000
31,681
 12.4% 3/8/28
TRY
4,000,000
174,553
TOTAL TURKEY
  
  
538,548
Ukraine - 0.1%
 
  
  
Ukraine Government 11.15% 8/26/22 (c)
UAH
9,000,000
124,979
Uruguay - 0.4%
 
  
  
Uruguay Republic:
  
  
  
 8.25% 5/21/31
UYU
6,500,000
151,630
 9.875% 6/20/22
UYU
8,500,000
206,981
TOTAL URUGUAY
  
  
358,611
 
TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS
 (Cost $81,217,402)
  
  
  
73,798,432
 
  
  
  
Supranational Obligations - 0.9%
 
  
Principal
Amount (a)
 
Value ($)
 
Asian Infrastructure Investment Bank 2.375% 2/10/25 (Reg. S)
PHP
19,400,000
353,628
Inter-American Development Bank 5.7% 11/12/24
INR
20,000,000
257,301
International Finance Corp. 5.85% 11/25/22
INR
17,500,000
230,296
 
TOTAL SUPRANATIONAL OBLIGATIONS
 (Cost $913,533)
  
  
841,225
 
  
  
  
Money Market Funds - 15.6%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 0.31% (d)
 
 (Cost $14,081,478)
 
  
14,078,663
14,081,478
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 98.5%
 (Cost $96,212,413)
 
  
 
88,721,135
NET OTHER ASSETS (LIABILITIES) - 1.5% (e)
1,312,835
NET ASSETS - 100.0%
90,033,970
 
  
 Forward Foreign Currency Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized  
Appreciation/
(Depreciation) ($)
 
  
  
  
  
  
  
BRL
1,035,000
USD
210,046
Bank Of America NA
5/18/22
4,592
BRL
1,559,000
USD
302,366
Citibank NA
5/18/22
20,938
BRL
2,991,000
USD
573,065
Goldman Sachs Bank USA
5/18/22
47,206
BRL
1,074,000
USD
208,787
HSBC Bank USA
5/18/22
13,938
BRL
682,000
USD
141,803
JPMorgan Chase Bank, N.A.
5/18/22
(370)
CLP
175,225,000
USD
217,320
Citibank NA
5/18/22
3,645
CLP
190,671,000
USD
240,321
Citibank NA
5/18/22
122
CLP
192,066,000
USD
236,943
Citibank NA
5/18/22
5,259
CNY
957,000
USD
150,106
BNP Paribas
5/18/22
433
CNY
5,420,000
USD
847,802
BNP Paribas
5/18/22
4,779
CNY
5,706,000
USD
889,339
State Street Bank And Trust Co
5/18/22
8,231
COP
2,062,500,000
USD
522,946
BNP Paribas
5/18/22
20,417
COP
821,800,000
USD
215,724
Bank Of America NA
5/18/22
779
COP
2,021,300,000
USD
521,021
Citibank NA
5/18/22
11,489
COP
886,100,000
USD
233,184
Citibank NA
5/18/22
258
COP
823,500,000
USD
216,397
Citibank NA
5/18/22
553
COP
326,700,000
USD
86,589
Goldman Sachs Bank USA
5/18/22
(521)
CZK
4,536,000
USD
203,192
BNP Paribas
5/18/22
1,272
CZK
40,613,000
USD
1,855,778
Goldman Sachs Bank USA
5/18/22
(25,113)
CZK
2,462,000
USD
105,901
HSBC Bank USA
5/18/22
5,076
CZK
5,274,000
USD
232,547
State Street Bank And Trust Co
5/18/22
5,183
EGP
15,974,000
USD
997,440
BNP Paribas
5/18/22
(128,370)
EGP
3,450,000
USD
186,185
Citibank NA
5/18/22
1,514
EGP
8,820,000
USD
550,562
Goldman Sachs Bank USA
5/18/22
(70,707)
HUF
133,680,000
USD
420,244
Goldman Sachs Bank USA
5/18/22
(20,245)
HUF
17,215,000
USD
49,602
HSBC Bank USA
5/18/22
1,909
HUF
226,205,000
USD
645,423
JPMorgan Chase Bank, N.A.
5/18/22
31,431
IDR
3,326,100,000
USD
231,784
BNP Paribas
5/18/22
(627)
IDR
1,836,500,000
USD
128,455
HSBC Bank USA
5/18/22
(822)
IDR
7,591,700,000
USD
528,376
State Street Bank And Trust Co
5/18/22
(768)
IDR
1,684,800,000
USD
117,983
State Street Bank And Trust Co
5/18/22
(893)
INR
17,734,000
USD
233,958
Citibank NA
5/18/22
(1,503)
INR
16,650,000
USD
216,726
Citibank NA
5/18/22
1,520
INR
38,627,000
USD
507,549
HSBC Bank USA
5/18/22
(1,231)
KZT
104,706,000
USD
239,191
Goldman Sachs Bank USA
5/18/22
(20,475)
MXN
2,293,000
USD
110,675
Bank Of America NA
5/18/22
3,690
MXN
2,638,000
USD
124,395
Brown Brothers Harriman & Co.
5/18/22
7,177
MXN
1,399,000
USD
66,817
Goldman Sachs Bank USA
5/18/22
2,959
MXN
4,624,000
USD
224,423
Goldman Sachs Bank USA
5/18/22
6,203
MXN
20,900,000
USD
1,030,391
State Street Bank And Trust Co
5/18/22
12,013
MYR
1,304,000
USD
310,343
Goldman Sachs Bank USA
5/18/22
(625)
MYR
10,281,000
USD
2,447,274
Goldman Sachs Bank USA
5/18/22
(5,390)
MYR
1,858,000
USD
442,170
Goldman Sachs Bank USA
5/18/22
(869)
MYR
663,000
USD
158,083
Goldman Sachs Bank USA
5/18/22
(611)
MYR
2,177,000
USD
518,333
Goldman Sachs Bank USA
5/18/22
(1,265)
MYR
914,000
USD
217,128
Goldman Sachs Bank USA
5/18/22
(40)
MYR
908,000
USD
216,190
Goldman Sachs Bank USA
5/18/22
(528)
MYR
926,000
USD
219,068
Goldman Sachs Bank USA
5/18/22
870
MYR
2,536,000
USD
602,089
Goldman Sachs Bank USA
5/18/22
247
PEN
671,000
USD
180,936
Citibank NA
5/18/22
766
PEN
823,000
USD
222,072
JPMorgan Chase Bank, N.A.
5/18/22
789
PEN
604,000
USD
157,888
JPMorgan Chase Bank, N.A.
5/18/22
5,670
PHP
23,608,000
USD
450,019
Goldman Sachs Bank USA
5/18/22
5,171
PLN
6,205,000
USD
1,537,932
BNP Paribas
5/18/22
(67,630)
PLN
883,000
USD
200,445
BNP Paribas
5/18/22
8,786
PLN
7,760,000
USD
1,798,911
BNP Paribas
5/18/22
39,855
PLN
903,000
USD
210,195
Citibank NA
5/18/22
3,775
RON
788,000
USD
176,158
Goldman Sachs Bank USA
5/18/22
(827)
RON
954,000
USD
216,224
Goldman Sachs Bank USA
5/18/22
(3,958)
RUB
207,868,000
USD
2,629,909
BNP Paribas
5/18/22
(189,736)
RUB
38,547,000
USD
488,680
Goldman Sachs Bank USA
5/18/22
(36,174)
THB
10,303,000
USD
310,160
JPMorgan Chase Bank, N.A.
5/18/22
(315)
THB
167,774,000
USD
5,179,073
JPMorgan Chase Bank, N.A.
5/18/22
(133,557)
THB
7,840,000
USD
243,240
JPMorgan Chase Bank, N.A.
5/18/22
(7,466)
THB
5,811,000
USD
177,974
JPMorgan Chase Bank, N.A.
5/18/22
(3,219)
THB
14,271,000
USD
427,148
JPMorgan Chase Bank, N.A.
5/18/22
2,028
THB
14,457,000
USD
435,452
JPMorgan Chase Bank, N.A.
5/18/22
(682)
TRY
3,619,000
USD
242,682
Citibank NA
5/18/22
(4,358)
TRY
2,377,000
USD
157,020
Citibank NA
5/18/22
(487)
TRY
900,000
USD
55,652
Citibank NA
5/18/22
3,616
TRY
1,082,000
USD
75,808
Goldman Sachs Bank USA
5/18/22
(4,554)
USD
67,730
BRL
361,000
Citibank NA
5/18/22
(7,134)
USD
244,152
BRL
1,289,000
Citibank NA
5/18/22
(23,160)
USD
453,094
BRL
2,200,000
Citibank NA
5/18/22
(3,140)
USD
481,799
BRL
2,528,000
HSBC Bank USA
5/18/22
(42,456)
USD
193,627
CLP
158,677,000
Citibank NA
5/18/22
(6,471)
USD
502,736
CLP
394,648,000
Citibank NA
5/18/22
5,071
USD
192,914
CLP
153,087,000
JPMorgan Chase Bank, N.A.
5/18/22
(134)
USD
435,494
CNY
2,795,000
BNP Paribas
5/18/22
(4,168)
USD
443,511
CNY
2,850,000
BNP Paribas
5/18/22
(4,802)
USD
222,639
CNY
1,425,000
BNP Paribas
5/18/22
(1,518)
USD
545,855
CNY
3,470,000
Citibank NA
5/18/22
14
USD
212,975
CNY
1,364,000
Citibank NA
5/18/22
(1,586)
USD
154,832
COP
618,300,000
Citibank NA
5/18/22
(8,059)
USD
243,887
COP
978,900,000
Citibank NA
5/18/22
(14,004)
USD
449,679
COP
1,718,000,000
Citibank NA
5/18/22
(2,926)
USD
424,967
COP
1,625,072,000
Citibank NA
5/18/22
(3,157)
USD
271,395
COP
1,081,100,000
Goldman Sachs Bank USA
5/18/22
(13,420)
USD
197,852
CZK
4,463,000
HSBC Bank USA
5/18/22
(3,322)
USD
224,120
EGP
3,596,000
BNP Paribas
5/18/22
28,478
USD
681,304
EGP
11,078,000
Citibank NA
5/18/22
78,602
USD
234,875
EGP
3,758,000
Goldman Sachs Bank USA
5/18/22
30,420
USD
247,224
EGP
3,963,000
Goldman Sachs Bank USA
5/18/22
31,616
USD
101,054
HUF
33,712,000
HSBC Bank USA
5/18/22
180
USD
432,430
HUF
152,002,000
JPMorgan Chase Bank, N.A.
5/18/22
(22,393)
USD
345,205
IDR
4,989,600,000
Citibank NA
5/18/22
(1,562)
USD
205,293
IDR
2,951,700,000
Citibank NA
5/18/22
156
USD
93,924
IDR
1,358,800,000
State Street Bank And Trust Co
5/18/22
(510)
USD
1,008,162
INR
77,079,000
State Street Bank And Trust Co
5/18/22
(2,179)
USD
490,782
KZT
267,476,000
Goldman Sachs Bank USA
5/18/22
(67,939)
USD
175,849
MXN
3,692,000
Citibank NA
5/18/22
(8,293)
USD
477,129
MXN
10,134,000
Goldman Sachs Bank USA
5/18/22
(28,312)
USD
435,971
MXN
8,762,000
HSBC Bank USA
5/18/22
(1,041)
USD
177,022
PEN
671,000
BNP Paribas
5/18/22
(4,680)
USD
157,682
PEN
604,000
HSBC Bank USA
5/18/22
(5,877)
USD
234,688
PHP
12,239,000
Citibank NA
5/18/22
(1,294)
USD
219,183
PHP
11,369,000
State Street Bank And Trust Co
5/18/22
(25)
USD
484,063
PLN
2,013,000
BNP Paribas
5/18/22
7,074
USD
233,069
PLN
937,000
Bank Of America NA
5/18/22
11,042
USD
307,527
PLN
1,294,000
HSBC Bank USA
5/18/22
908
USD
276,481
PLN
1,182,000
HSBC Bank USA
5/18/22
(3,599)
USD
666,837
PLN
2,875,000
HSBC Bank USA
5/18/22
(14,407)
USD
526,731
RUB
40,576,000
BNP Paribas
5/18/22
50,408
USD
484,364
RUB
40,581,000
BNP Paribas
5/18/22
7,982
USD
679,274
RUB
76,758,000
Goldman Sachs Bank USA
5/18/22
(221,792)
USD
719,512
RUB
88,500,000
Goldman Sachs Bank USA
5/18/22
(319,394)
USD
464,159
THB
14,932,000
JPMorgan Chase Bank, N.A.
5/18/22
15,105
USD
569,440
THB
18,652,000
JPMorgan Chase Bank, N.A.
5/18/22
8,513
USD
420,846
THB
14,031,000
JPMorgan Chase Bank, N.A.
5/18/22
(1,113)
USD
446,177
THB
14,996,000
JPMorgan Chase Bank, N.A.
5/18/22
(4,802)
USD
227,155
THB
7,684,000
JPMorgan Chase Bank, N.A.
5/18/22
(3,928)
USD
205,544
TRY
3,150,000
Goldman Sachs Bank USA
5/18/22
(1,894)
USD
166,514
ZAR
2,599,000
Brown Brothers Harriman & Co.
5/18/22
(10,326)
USD
64,174
ZAR
944,000
Citibank NA
5/18/22
(57)
ZAR
2,599,000
USD
169,839
Brown Brothers Harriman & Co.
5/18/22
7,000
ZAR
4,728,000
USD
305,643
HSBC Bank USA
5/18/22
16,056
ZAR
3,725,000
USD
241,884
HSBC Bank USA
5/18/22
11,570
 
  
  
  
  
  
  
TOTAL FORWARD FOREIGN CURRENCY CONTRACTS
  
(994,456)
 
  
  
  
  
  
  
Unrealized Appreciation
  
  
604,354
Unrealized Depreciation
  
  
(1,598,810)
Currency Abbreviations
         BRL
-
Brazilian real
         CLP
-
Chilean peso
         CNY
-
Chinese yuan
         COP
-
Colombian peso
         CZK
-
Czech koruna
         DOP
-
Dominican Republic peso
         EGP
-
Egyptian pound
         HUF
-
Hungarian forint
         IDR
-
Indonesian rupiah
         INR
-
Indian rupee
         KZT
-
Kazakhstan tenge
         MXN
-
Mexican peso
         MYR
-
Malyasian ringgit
         PEN
-
Peruvian new sol
         PHP
-
Philippine peso
         PLN
-
Polish zloty
         RON
-
Romanian leu (new)
         RUB
-
Russian ruble
         THB
-
Thai baht
         TRY
-
Turkish Lira
         UAH
-
Ukrainian hryvnia
         USD
-
U.S. dollar
         UYU
-
Uruguay peso
         ZAR
-
South African rand
 
Categorizations in Schedule of Investments are based on country or territory of incorporation.
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $726,038 or 0.8% of net assets.
 
(c)
Level 3 security
 
(d)
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.
 
(e)
Includes $900,000 of cash collateral segregated for open forward foreign currency contracts
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
%ownership,
end
of period
Fidelity Cash Central Fund 0.31%
9,588,114
11,871,148
7,377,784
3,114
-
-
14,081,478
0.0%
Total
9,588,114
11,871,148
7,377,784
3,114
-
-
14,081,478
  
 
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Directors (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities.Foreign Government and Government Agency Obligations and Supranational 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. 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. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
The U.S. dollar value of foreign currency contracts is determined using currency exchange rates supplied by a pricing vendor and are categorized as Level 2 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Foreign Exchange Risk - Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in currency exchange rates.
 
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. 
 
Derivative counterparty credit risk is managed through formal evaluation of the creditworthiness of all potential counterparties. On certain OTC derivatives, the Fund attempts to reduce its exposure to counterparty credit risk by entering into an International Swaps and Derivatives Association, Inc. (ISDA) Master Agreement with each of its counterparties. The ISDA Master Agreement gives the Fund the right to terminate all transactions traded under such agreement upon the deterioration in the credit quality of the counterparty beyond specified levels. The ISDA Master Agreement gives each party the right, upon an event of default by the other party or a termination of the agreement, to close out all transactions traded under such agreement and to net the amounts owed under each transaction to one net payable by one party to the other. To mitigate counterparty credit risk on bi-lateral OTC derivatives, the Fund receives collateral in the form of cash or securities once the Fund's net unrealized appreciation on outstanding derivative contracts under an ISDA Master Agreement exceeds certain applicable thresholds, subject to certain minimum transfer provisions. The collateral received is held in segregated accounts with the Fund's custodian bank in accordance with the collateral agreements entered into between the Fund, the counterparty and the Fund's custodian bank. The Fund could experience delays and costs in gaining access to the collateral even though it is held by the Fund's custodian bank. The Fund's maximum risk of loss from counterparty credit risk related to bi-lateral OTC derivatives is generally the aggregate unrealized appreciation and unpaid counterparty payments in excess of any collateral pledged by the counterparty to the Fund. The Fund may be required to pledge collateral for the benefit of the counterparties on bi-lateral OTC derivatives in an amount not less than each counterparty's unrealized appreciation on outstanding derivative contracts, subject to certain minimum transfer provisions, and any such pledged collateral is identified in the Schedule of Investments. Exchange-traded contracts are not covered by the ISDA Master Agreement; however counterparty credit risk related to these contracts may be mitigated by the protection provided by the exchange on which they trade. Counterparty credit risk related to centrally cleared OTC swaps may be mitigated by the protection provided by the clearinghouse.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Forward Foreign Currency Contracts: Forward foreign currency contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into.  
 
The Fund used forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to manage exposure to certain foreign currencies.
 
Open forward foreign currency contracts at period end are presented in the Schedule of Investments under the caption "Forward Foreign Currency Contracts." The contract amount and unrealized appreciation (depreciation) reflects each contract's exposure to the underlying currency at period end.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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