N-Q

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 811-4008

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

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

Scott C. Goebel, Secretary

82 Devonshire St.

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

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

Date of fiscal year end:	October 31
Date of reporting period:	January 31, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity® Canada Fund

January 31, 2010

1.813011.105

CAN-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.9%
	Shares		Value
CONSUMER DISCRETIONARY - 6.6%
Auto Components - 1.5%
Magna International, Inc. Class A (sub. vtg.)	948,300		$ 52,164,038
Distributors - 0.1%
Uni-Select, Inc.	100,000		2,741,981
Hotels, Restaurants & Leisure - 0.9%
Tim Hortons, Inc.	1,010,300		28,934,992
Household Durables - 0.3%
Dorel Industries, Inc. Class B (sub. vtg.)	300,000		8,562,611
Media - 1.8%
Astral Media, Inc. Class A (non-vtg.)	240,000		7,610,960
Cogeco Cable, Inc.	375,000		13,943,702
Corus Entertainment, Inc. Class B (non-vtg.)	500,000		8,697,279
Quebecor, Inc. Class B (sub. vtg.)	420,100		11,263,693
Shaw Communications, Inc. Class B	1,000,000		18,610,306
			60,125,940
Multiline Retail - 0.5%
Dollarama, Inc.	604,000		11,438,324
Dollarama, Inc. (e)	221,000		4,185,215
			15,623,539
Specialty Retail - 0.0%
RONA, Inc. (a)	100,000		1,459,834
Textiles, Apparel & Luxury Goods - 1.5%
Gildan Activewear, Inc. (a)	2,425,000		52,001,543
TOTAL CONSUMER DISCRETIONARY			221,614,478
CONSUMER STAPLES - 3.9%
Beverages - 0.1%
Cott Corp. (a)	650,000		5,270,270
Food & Staples Retailing - 3.2%
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	4,036,100		76,018,941
George Weston Ltd.	130,000		8,376,508
Metro, Inc. Class A (sub. vtg.)	600,000		21,922,753
			106,318,202
Food Products - 0.6%
Maple Leaf Foods, Inc.	400,000		4,170,953
Saputo, Inc.	500,000		13,349,855
Viterra, Inc. (a)	409,300		3,647,834
			21,168,642
TOTAL CONSUMER STAPLES			132,757,114
ENERGY - 27.0%
Energy Equipment & Services - 0.2%
Ensign Energy Services, Inc.	100,000		1,404,657
Precision Drilling Trust	600,000		4,674,086
			6,078,743
	Shares		Value
Oil, Gas & Consumable Fuels - 26.8%
Baytex Energy Trust	600,000		$ 17,114,000
Cameco Corp.	930,000		25,135,135
Canadian Natural Resources Ltd.	1,875,000		119,675,255
Cenovus Energy, Inc.	860,000		19,873,375
Crescent Point Energy Corp. (c)	1,083,400		38,349,098
Enbridge, Inc.	2,678,900		116,270,223
EnCana Corp.	2,160,000		66,054,428
Imperial Oil Ltd.	700,000		25,164,126
Keyera Facilities Income Fund	958,402		21,743,975
Nexen, Inc.	1,200,000		26,271,393
Niko Resources Ltd.	365,000		33,704,386
Pacific Rubiales Energy Corp. (a)(c)	1,500,000		20,031,797
Penn West Energy Trust	1,300,000		21,409,333
PetroBakken Energy Ltd. Class A	561,878		15,579,989
Petrobank Energy & Resources Ltd. (a)	600,000		29,643,692
Progress Energy Resources Corp.	1,200,000		15,497,989
Suncor Energy, Inc.	5,607,600		177,043,464
Talisman Energy, Inc.	4,200,000		69,482,839
TransCanada Corp.	1,400,000		44,737,679
			902,782,176
TOTAL ENERGY			908,860,919
FINANCIALS - 20.3%
Capital Markets - 0.8%
CI Financial Corp. (c)	219,200		4,475,017
IGM Financial, Inc.	550,000		21,458,898
			25,933,915
Commercial Banks - 14.7%
Bank of Montreal (c)	1,609,300		78,260,170
Bank of Nova Scotia	400,000		16,769,849
Canadian Imperial Bank of Commerce	454,600		27,166,314
National Bank of Canada	200,000		10,569,531
Royal Bank of Canada	4,140,000		202,412,046
Toronto-Dominion Bank	2,715,000		159,959,787
			495,137,697
Insurance - 2.1%
Fairfax Financial Holdings Ltd. (sub. vtg.)	50,800		17,236,274
Intact Financial Corp.	150,000		5,296,923
Intact Financial Corp. (e)	241,100		8,513,921
Manulife Financial Corp.	900,000		16,446,273
Power Corp. of Canada (sub. vtg.)	900,000		23,617,320
			71,110,711
Real Estate Investment Trusts - 0.4%
H&R Real Estate Investment Trust/H&R Finance Trust	50,000		786,496
RioCan (REIT)	750,000		13,389,601
			14,176,097
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 1.4%
Brookfield Asset Management, Inc. Class A	1,550,000		$ 31,237,726
Brookfield Properties Corp.	1,400,000		16,797,905
			48,035,631
Thrifts & Mortgage Finance - 0.9%
Genworth MI Canada, Inc.	830,100		20,300,304
Home Capital Group, Inc.	250,000		9,141,494
			29,441,798
TOTAL FINANCIALS			683,835,849
HEALTH CARE - 0.8%
Health Care Technology - 0.8%
SXC Health Solutions Corp. (a)	560,000		26,295,333
INDUSTRIALS - 4.1%
Aerospace & Defense - 0.7%
Bombardier, Inc. Class B (sub. vtg.)	5,200,000		24,509,492
Airlines - 0.3%
Air Canada Class A (a)(d)	7,000,000		8,837,557
WestJet Airlines Ltd. (a)	100,000		1,179,276
			10,016,833
Commercial Services & Supplies - 0.9%
IESI-BFC Ltd.	1,800,000		28,398,017
Construction & Engineering - 0.5%
SNC-Lavalin Group, Inc.	365,000		16,715,655
Road & Rail - 1.7%
Canadian National Railway Co.	850,000		42,384,738
Canadian Pacific Railway Ltd.	300,000		14,162,536
			56,547,274
TOTAL INDUSTRIALS			136,187,271
INFORMATION TECHNOLOGY - 8.4%
Communications Equipment - 4.8%
Research In Motion Ltd. (a)	2,550,000		160,548,005
Electronic Equipment & Components - 0.2%
Celestica, Inc. (sub. vtg.) (a)	700,000		6,834,378
Internet Software & Services - 0.7%
Open Text Corp. (a)	600,000		23,639,764
IT Services - 2.2%
CGI Group, Inc. Class A (sub. vtg.) (a)	5,690,000		74,976,246
Software - 0.5%
MacDonald Dettwiler & Associates Ltd. (a)	500,000		18,212,850
TOTAL INFORMATION TECHNOLOGY			284,211,243
	Shares		Value
MATERIALS - 20.5%
Chemicals - 4.0%
Agrium, Inc.	630,000		$ 35,432,713
Methanex Corp.	2,282,400		51,014,084
Potash Corp. of Saskatchewan, Inc.	490,000		48,537,174
			134,983,971
Metals & Mining - 15.8%
Agnico-Eagle Mines Ltd. (Canada)	424,700		21,467,348
Barrick Gold Corp.	1,180,000		40,962,873
Centerra Gold, Inc. (a)	300,000		3,038,436
Consolidated Thompson Iron Mines Ltd. (a)	1,100,000		7,396,428
Eldorado Gold Corp. (a)	2,170,000		25,772,936
First Quantum Minerals Ltd.	900,000		65,271,673
Franco-Nevada Corp.	200,000		5,057,514
Goldcorp, Inc.	2,500,000		84,728,327
Grande Cache Coal Corp. (a)	3,200,000		15,621,435
IAMGOLD Corp.	1,300,000		17,129,898
Inmet Mining Corp.	250,000		12,660,152
Ivanhoe Mines Ltd. (a)	700,000		9,806,415
Kinross Gold Corp.	2,150,000		34,804,545
Osisko Mining Corp. (a)	600,000		4,399,140
Red Back Mining, Inc. (a)	2,100,000		31,559,899
Silver Wheaton Corp. (a)	1,775,900		24,496,891
Teck Resources Ltd. Class B (sub. vtg.) (a)	3,000,000		98,223,137
Yamana Gold, Inc.	2,700,000		27,194,426
			529,591,473
Paper & Forest Products - 0.7%
Sino-Forest Corp. (a)(c)	1,400,000		24,313,102
TOTAL MATERIALS			688,888,546
TELECOMMUNICATION SERVICES - 3.9%
Diversified Telecommunication Services - 2.2%
BCE, Inc.	1,800,000		46,241,466
Bell Aliant Regional Communication Income Fund	100,000		2,438,979
TELUS Corp.	800,000		24,786,309
			73,466,754
Wireless Telecommunication Services - 1.7%
Rogers Communications, Inc. Class B (non-vtg.)	1,800,000		56,156,364
TOTAL TELECOMMUNICATION SERVICES			129,623,118
UTILITIES - 1.4%
Electric Utilities - 1.1%
Fortis, Inc.	1,400,000		36,266,717
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Multi-Utilities - 0.3%
Canadian Utilities Ltd. Class A (non-vtg.)	275,000		$ 11,125,503
TOTAL UTILITIES			47,392,220
TOTAL COMMON STOCKS (Cost $2,986,012,770)		3,259,666,091
Money Market Funds - 2.7%
Fidelity Cash Central Fund, 0.17% (f)	25,480,932		25,480,932
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(f)	64,653,708		64,653,708
TOTAL MONEY MARKET FUNDS (Cost $90,134,640)		90,134,640

TOTAL INVESTMENT PORTFOLIO - 99.6% (Cost $3,076,147,410)		3,349,800,731
NET OTHER ASSETS - 0.4%		14,584,247
NET ASSETS - 100%	$ 3,364,384,978

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) 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 $12,699,136 or 0.4% of net assets.

(f) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 12,042
Fidelity Securities Lending Cash Central Fund	1,090,555
Total	$ 1,102,597

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Air Canada Class A	$ -	$ 8,833,201	$ -	$ -	$ 8,837,557
Total	$ -	$ 8,833,201	$ -	$ -	$ 8,837,557

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $3,129,363,960. Net unrealized appreciation aggregated $220,436,771, of which $407,380,394 related to appreciated investment securities and $186,943,623 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor Canada Fund

January 31, 2010
Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity®
Canada Fund

1.855814.102

ACAN-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.9%
	Shares		Value
CONSUMER DISCRETIONARY - 6.6%
Auto Components - 1.5%
Magna International, Inc. Class A (sub. vtg.)	948,300		$ 52,164,038
Distributors - 0.1%
Uni-Select, Inc.	100,000		2,741,981
Hotels, Restaurants & Leisure - 0.9%
Tim Hortons, Inc.	1,010,300		28,934,992
Household Durables - 0.3%
Dorel Industries, Inc. Class B (sub. vtg.)	300,000		8,562,611
Media - 1.8%
Astral Media, Inc. Class A (non-vtg.)	240,000		7,610,960
Cogeco Cable, Inc.	375,000		13,943,702
Corus Entertainment, Inc. Class B (non-vtg.)	500,000		8,697,279
Quebecor, Inc. Class B (sub. vtg.)	420,100		11,263,693
Shaw Communications, Inc. Class B	1,000,000		18,610,306
			60,125,940
Multiline Retail - 0.5%
Dollarama, Inc.	604,000		11,438,324
Dollarama, Inc. (e)	221,000		4,185,215
			15,623,539
Specialty Retail - 0.0%
RONA, Inc. (a)	100,000		1,459,834
Textiles, Apparel & Luxury Goods - 1.5%
Gildan Activewear, Inc. (a)	2,425,000		52,001,543
TOTAL CONSUMER DISCRETIONARY			221,614,478
CONSUMER STAPLES - 3.9%
Beverages - 0.1%
Cott Corp. (a)	650,000		5,270,270
Food & Staples Retailing - 3.2%
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	4,036,100		76,018,941
George Weston Ltd.	130,000		8,376,508
Metro, Inc. Class A (sub. vtg.)	600,000		21,922,753
			106,318,202
Food Products - 0.6%
Maple Leaf Foods, Inc.	400,000		4,170,953
Saputo, Inc.	500,000		13,349,855
Viterra, Inc. (a)	409,300		3,647,834
			21,168,642
TOTAL CONSUMER STAPLES			132,757,114
ENERGY - 27.0%
Energy Equipment & Services - 0.2%
Ensign Energy Services, Inc.	100,000		1,404,657
Precision Drilling Trust	600,000		4,674,086
			6,078,743
	Shares		Value
Oil, Gas & Consumable Fuels - 26.8%
Baytex Energy Trust	600,000		$ 17,114,000
Cameco Corp.	930,000		25,135,135
Canadian Natural Resources Ltd.	1,875,000		119,675,255
Cenovus Energy, Inc.	860,000		19,873,375
Crescent Point Energy Corp. (c)	1,083,400		38,349,098
Enbridge, Inc.	2,678,900		116,270,223
EnCana Corp.	2,160,000		66,054,428
Imperial Oil Ltd.	700,000		25,164,126
Keyera Facilities Income Fund	958,402		21,743,975
Nexen, Inc.	1,200,000		26,271,393
Niko Resources Ltd.	365,000		33,704,386
Pacific Rubiales Energy Corp. (a)(c)	1,500,000		20,031,797
Penn West Energy Trust	1,300,000		21,409,333
PetroBakken Energy Ltd. Class A	561,878		15,579,989
Petrobank Energy & Resources Ltd. (a)	600,000		29,643,692
Progress Energy Resources Corp.	1,200,000		15,497,989
Suncor Energy, Inc.	5,607,600		177,043,464
Talisman Energy, Inc.	4,200,000		69,482,839
TransCanada Corp.	1,400,000		44,737,679
			902,782,176
TOTAL ENERGY			908,860,919
FINANCIALS - 20.3%
Capital Markets - 0.8%
CI Financial Corp. (c)	219,200		4,475,017
IGM Financial, Inc.	550,000		21,458,898
			25,933,915
Commercial Banks - 14.7%
Bank of Montreal (c)	1,609,300		78,260,170
Bank of Nova Scotia	400,000		16,769,849
Canadian Imperial Bank of Commerce	454,600		27,166,314
National Bank of Canada	200,000		10,569,531
Royal Bank of Canada	4,140,000		202,412,046
Toronto-Dominion Bank	2,715,000		159,959,787
			495,137,697
Insurance - 2.1%
Fairfax Financial Holdings Ltd. (sub. vtg.)	50,800		17,236,274
Intact Financial Corp.	150,000		5,296,923
Intact Financial Corp. (e)	241,100		8,513,921
Manulife Financial Corp.	900,000		16,446,273
Power Corp. of Canada (sub. vtg.)	900,000		23,617,320
			71,110,711
Real Estate Investment Trusts - 0.4%
H&R Real Estate Investment Trust/H&R Finance Trust	50,000		786,496
RioCan (REIT)	750,000		13,389,601
			14,176,097
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 1.4%
Brookfield Asset Management, Inc. Class A	1,550,000		$ 31,237,726
Brookfield Properties Corp.	1,400,000		16,797,905
			48,035,631
Thrifts & Mortgage Finance - 0.9%
Genworth MI Canada, Inc.	830,100		20,300,304
Home Capital Group, Inc.	250,000		9,141,494
			29,441,798
TOTAL FINANCIALS			683,835,849
HEALTH CARE - 0.8%
Health Care Technology - 0.8%
SXC Health Solutions Corp. (a)	560,000		26,295,333
INDUSTRIALS - 4.1%
Aerospace & Defense - 0.7%
Bombardier, Inc. Class B (sub. vtg.)	5,200,000		24,509,492
Airlines - 0.3%
Air Canada Class A (a)(d)	7,000,000		8,837,557
WestJet Airlines Ltd. (a)	100,000		1,179,276
			10,016,833
Commercial Services & Supplies - 0.9%
IESI-BFC Ltd.	1,800,000		28,398,017
Construction & Engineering - 0.5%
SNC-Lavalin Group, Inc.	365,000		16,715,655
Road & Rail - 1.7%
Canadian National Railway Co.	850,000		42,384,738
Canadian Pacific Railway Ltd.	300,000		14,162,536
			56,547,274
TOTAL INDUSTRIALS			136,187,271
INFORMATION TECHNOLOGY - 8.4%
Communications Equipment - 4.8%
Research In Motion Ltd. (a)	2,550,000		160,548,005
Electronic Equipment & Components - 0.2%
Celestica, Inc. (sub. vtg.) (a)	700,000		6,834,378
Internet Software & Services - 0.7%
Open Text Corp. (a)	600,000		23,639,764
IT Services - 2.2%
CGI Group, Inc. Class A (sub. vtg.) (a)	5,690,000		74,976,246
Software - 0.5%
MacDonald Dettwiler & Associates Ltd. (a)	500,000		18,212,850
TOTAL INFORMATION TECHNOLOGY			284,211,243
	Shares		Value
MATERIALS - 20.5%
Chemicals - 4.0%
Agrium, Inc.	630,000		$ 35,432,713
Methanex Corp.	2,282,400		51,014,084
Potash Corp. of Saskatchewan, Inc.	490,000		48,537,174
			134,983,971
Metals & Mining - 15.8%
Agnico-Eagle Mines Ltd. (Canada)	424,700		21,467,348
Barrick Gold Corp.	1,180,000		40,962,873
Centerra Gold, Inc. (a)	300,000		3,038,436
Consolidated Thompson Iron Mines Ltd. (a)	1,100,000		7,396,428
Eldorado Gold Corp. (a)	2,170,000		25,772,936
First Quantum Minerals Ltd.	900,000		65,271,673
Franco-Nevada Corp.	200,000		5,057,514
Goldcorp, Inc.	2,500,000		84,728,327
Grande Cache Coal Corp. (a)	3,200,000		15,621,435
IAMGOLD Corp.	1,300,000		17,129,898
Inmet Mining Corp.	250,000		12,660,152
Ivanhoe Mines Ltd. (a)	700,000		9,806,415
Kinross Gold Corp.	2,150,000		34,804,545
Osisko Mining Corp. (a)	600,000		4,399,140
Red Back Mining, Inc. (a)	2,100,000		31,559,899
Silver Wheaton Corp. (a)	1,775,900		24,496,891
Teck Resources Ltd. Class B (sub. vtg.) (a)	3,000,000		98,223,137
Yamana Gold, Inc.	2,700,000		27,194,426
			529,591,473
Paper & Forest Products - 0.7%
Sino-Forest Corp. (a)(c)	1,400,000		24,313,102
TOTAL MATERIALS			688,888,546
TELECOMMUNICATION SERVICES - 3.9%
Diversified Telecommunication Services - 2.2%
BCE, Inc.	1,800,000		46,241,466
Bell Aliant Regional Communication Income Fund	100,000		2,438,979
TELUS Corp.	800,000		24,786,309
			73,466,754
Wireless Telecommunication Services - 1.7%
Rogers Communications, Inc. Class B (non-vtg.)	1,800,000		56,156,364
TOTAL TELECOMMUNICATION SERVICES			129,623,118
UTILITIES - 1.4%
Electric Utilities - 1.1%
Fortis, Inc.	1,400,000		36,266,717
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Multi-Utilities - 0.3%
Canadian Utilities Ltd. Class A (non-vtg.)	275,000		$ 11,125,503
TOTAL UTILITIES			47,392,220
TOTAL COMMON STOCKS (Cost $2,986,012,770)		3,259,666,091
Money Market Funds - 2.7%
Fidelity Cash Central Fund, 0.17% (f)	25,480,932		25,480,932
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(f)	64,653,708		64,653,708
TOTAL MONEY MARKET FUNDS (Cost $90,134,640)		90,134,640

TOTAL INVESTMENT PORTFOLIO - 99.6% (Cost $3,076,147,410)		3,349,800,731
NET OTHER ASSETS - 0.4%		14,584,247
NET ASSETS - 100%	$ 3,364,384,978

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) 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 $12,699,136 or 0.4% of net assets.

(f) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 12,042
Fidelity Securities Lending Cash Central Fund	1,090,555
Total	$ 1,102,597

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Air Canada Class A	$ -	$ 8,833,201	$ -	$ -	$ 8,837,557
Total	$ -	$ 8,833,201	$ -	$ -	$ 8,837,557

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $3,129,363,960. Net unrealized appreciation aggregated $220,436,771, of which $407,380,394 related to appreciated investment securities and $186,943,623 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® China Region Fund

January 31, 2010

1.813032.105

HKC-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%
	Shares		Value
CONSUMER DISCRETIONARY - 9.5%
Auto Components - 0.6%
Cheng Shin Rubber Industry Co. Ltd.	3,561,500		$ 6,852,252
Minth Group Ltd.	5,376,000		6,806,597
			13,658,849
Automobiles - 1.0%
Dongfeng Motor Group Co. Ltd. (H Shares)	18,128,000		23,769,221
Distributors - 2.7%
China Resources Enterprise Ltd.	5,782,000		19,064,935
Li & Fung Ltd.	9,196,000		42,166,371
			61,231,306
Hotels, Restaurants & Leisure - 1.0%
Ctrip.com International Ltd. sponsored ADR (a)	697,600		21,827,904
Household Durables - 1.0%
Techtronic Industries Co. Ltd.	26,394,500		21,893,570
Multiline Retail - 1.2%
Far East Department Stores Co. Ltd.	9,308,820		8,911,306
Golden Eagle Retail Group Ltd. (H Shares)	3,794,000		6,851,136
Maoye International Holdings Ltd. (c)	43,258,000		10,418,983
			26,181,425
Specialty Retail - 0.5%
Esprit Holdings Ltd.	1,754,343		12,450,402
Textiles, Apparel & Luxury Goods - 1.5%
Bosideng International Holdings Ltd.	8,916,000		1,768,512
Li Ning Co. Ltd.	1,277,500		3,899,658
Texwinca Holdings Ltd.	16,242,000		14,350,958
Weiqiao Textile Co. Ltd. (H Shares)	20,601,500		13,824,640
			33,843,768
TOTAL CONSUMER DISCRETIONARY			214,856,445
CONSUMER STAPLES - 3.9%
Food & Staples Retailing - 0.8%
Dairy Farm International Holdings Ltd.	2,642,400		16,911,360
Food Products - 2.1%
China Agri-Industries Holding Ltd.	11,813,000		16,219,396
China Foods Ltd.	7,310,000		6,251,766
China Mengniu Dairy Co. Ltd. (a)	4,504,000		13,922,810
Tingyi (Cayman Island) Holding Corp.	3,452,000		7,469,600
Want Want China Holdings Ltd.	5,577,000		3,577,233
			47,440,805
Personal Products - 1.0%
BaWang International (Group) Holding Ltd.	13,826,000		7,995,768
Hengan International Group Co. Ltd.	2,313,000		15,491,599
			23,487,367
TOTAL CONSUMER STAPLES			87,839,532
	Shares		Value
ENERGY - 7.8%
Energy Equipment & Services - 0.6%
China Oilfield Services Ltd. (H Shares)	10,822,000		$ 12,935,189
Oil, Gas & Consumable Fuels - 7.2%
China Coal Energy Co. Ltd. (H Shares)	8,611,000		13,198,295
China Petroleum & Chemical Corp. (H Shares)	29,678,000		23,088,354
China Shenhua Energy Co. Ltd. (H Shares)	3,019,500		12,989,689
CNOOC Ltd.	37,343,000		52,359,352
CNPC (Hong Kong) Ltd.	10,630,000		13,267,048
PetroChina Co. Ltd. (H Shares)	34,270,000		38,273,597
SouthGobi Energy Resources Ltd.	136,000		1,961,888
Yanzhou Coal Mining Co. Ltd. (H Shares)	4,046,000		8,046,193
			163,184,416
TOTAL ENERGY			176,119,605
FINANCIALS - 36.2%
Capital Markets - 1.5%
Yuanta Financial Holding Co. Ltd.	53,227,000		33,969,366
Commercial Banks - 15.5%
Bank of China (H Shares)	144,531,000		69,808,699
BOC Hong Kong Holdings Ltd.	24,201,000		50,808,712
China Citic Bank Corp. Ltd. Class H	9,945,000		6,699,212
China Construction Bank Corp. (H Shares)	94,071,000		72,455,976
China Merchants Bank Co. Ltd. (H Shares)	11,630,500		27,054,119
Chinatrust Financial Holding Co. Ltd.	33,511,601		18,346,723
E.Sun Financial Holdings Co. Ltd.	12,980,410		4,872,984
HSBC Holdings PLC (Hong Kong) (Reg.)	1,327,600		14,172,896
Industrial & Commercial Bank of China Ltd. (H Shares)	94,359,000		69,274,828
Mega Financial Holding Co. Ltd.	19,214,000		10,398,943
Sinopac Holdings Co. (a)	16,800,000		5,544,815
Wing Hang Bank Ltd.	60,000		506,186
			349,944,093
Diversified Financial Services - 4.1%
China Everbright Ltd.	3,710,000		8,792,432
Fubon Financial Holding Co. Ltd. (a)	10,810,000		12,648,021
Hong Kong Exchanges and Clearing Ltd.	4,107,800		69,998,124
			91,438,577
Insurance - 5.9%
Cathay Financial Holding Co. Ltd. (a)	21,018,000		35,638,217
China Insurance International Holdings Co. Ltd. (a)	1,951,600		6,171,057
China Life Insurance Co. Ltd. (H Shares)	14,933,000		65,855,184
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	2,803,000		21,950,476
Shin Kong Financial Holding Co. Ltd. (a)	5,866,980		2,248,412
			131,863,346
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 9.2%
Cheung Kong Holdings Ltd.	2,991,000		$ 35,461,530
China Overseas Land & Investment Ltd.	5,487,920		9,839,302
China Resources Land Ltd.	1,308,000		2,372,071
Farglory Land Development Co. Ltd.	2,381,000		5,065,165
Hang Lung Properties Ltd.	6,089,000		20,783,042
Henderson Land Development Co. Ltd.	3,158,000		19,991,847
Kerry Properties Ltd.	2,589,500		11,573,445
New World Development Co. Ltd.	12,821,000		21,137,282
Poly (Hong Kong) Investments Ltd.	9,553,000		9,523,531
Shimao Property Holdings Ltd.	10,276,000		15,882,637
Sino Land Co.	2,414,000		4,004,704
Sino-Ocean Land Holdings Ltd.	6,484,866		5,303,859
Sun Hung Kai Properties Ltd.	3,549,000		45,848,402
			206,786,817
TOTAL FINANCIALS			814,002,199
HEALTH CARE - 1.4%
Health Care Providers & Services - 0.5%
Sinopharm Group Co. Ltd. Class H	3,005,200		11,341,181
Pharmaceuticals - 0.9%
China Shineway Pharmaceutical Group Ltd.	11,391,000		19,953,451
TOTAL HEALTH CARE			31,294,632
INDUSTRIALS - 9.5%
Airlines - 1.1%
Air China Ltd. (H Shares) (a)	19,756,000		16,539,777
Cathay Pacific Airways Ltd. (a)	4,107,000		6,770,986
			23,310,763
Electrical Equipment - 0.9%
China High Speed Transmission Equipment Group Co. Ltd.	6,071,000		12,167,100
Dongfang Electric Corp. Ltd.	1,758,200		8,729,913
			20,897,013
Industrial Conglomerates - 2.8%
Beijing Enterprises Holdings Ltd.	1,058,500		7,382,553
Far Eastern Textile Ltd.	17,520,420		19,293,564
Hutchison Whampoa Ltd.	3,232,000		22,125,439
Shanghai Industrial Holdings Ltd.	3,149,000		14,702,729
			63,504,285
Machinery - 1.4%
China International Marine Containers Co. Ltd. (B Shares)	8,527,499		11,741,313
Haitian International Holdings Ltd.	13,714,000		7,224,449
Sinotruk Hong Kong Ltd.	1,688,000		1,971,955
Weichai Power Co. Ltd. (H Shares)	1,378,000		9,983,642
			30,921,359
	Shares		Value
Marine - 1.7%
China Cosco Holdings Co. Ltd. (H Shares) (c)	12,502,000		$ 14,911,034
Orient Overseas International Ltd.	1,585,000		10,881,124
Shun Tak Holdings Ltd.	20,066,000		11,681,981
			37,474,139
Transportation Infrastructure - 1.6%
China Merchant Holdings International Co. Ltd.	1,984,000		6,656,818
Cosco Pacific Ltd.	6,786,000		9,929,090
Zhejiang Expressway Co. Ltd. (H Shares)	22,818,000		19,926,202
			36,512,110
TOTAL INDUSTRIALS			212,619,669
INFORMATION TECHNOLOGY - 19.5%
Communications Equipment - 2.0%
Vtech Holdings Ltd.	2,924,000		28,980,326
ZTE Corp. (H Shares)	2,725,420		16,007,207
			44,987,533
Computers & Peripherals - 0.5%
Acer, Inc.	3,681,810		10,331,874
Electronic Equipment & Components - 8.7%
AU Optronics Corp.	7,798,090		8,745,863
BYD Co. Ltd. (H Shares) (a)(c)	2,058,800		15,088,418
Coretronic Corp.	14,981,000		21,324,433
Delta Electronics, Inc.	2,386,000		7,240,482
Hon Hai Precision Industry Co. Ltd. (Foxconn)	17,254,225		72,601,072
Kingboard Chemical Holdings Ltd.	3,216,500		13,795,742
Kingboard Chemical Holdings Ltd. rights (a)	189,205		0
Kingboard Laminates Holdings Ltd.	21,109,000		14,953,664
Prime View International Co. Ltd. (a)	5,395,000		9,890,411
Tripod Technology Corp.	3,217,820		11,073,368
Unimicron Technology Corp.	17,206,000		21,019,687
			195,733,140
Internet Software & Services - 4.3%
Alibaba.com Ltd. (c)	2,065,500		4,682,256
Sohu.com, Inc. (a)	202,700		10,205,945
Tencent Holdings Ltd.	4,409,700		82,469,417
			97,357,618
Semiconductors & Semiconductor Equipment - 4.0%
Epistar Corp.	1,482,000		4,705,866
MediaTek, Inc.	2,071,262		33,694,861
Taiwan Semiconductor Manufacturing Co. Ltd.	27,198,796		52,329,922
			90,730,649
TOTAL INFORMATION TECHNOLOGY			439,140,814
Common Stocks - continued
	Shares		Value
MATERIALS - 6.0%
Chemicals - 1.7%
Formosa Plastics Corp.	7,854,250		$ 16,364,557
Huabao International Holdings Ltd.	2,570,000		2,615,035
Nan Ya Plastics Corp.	1,805,000		3,388,081
Sinofert Holdings Ltd.	8,920,000		5,193,027
Taiwan Fertilizer Co. Ltd.	3,362,000		10,991,053
			38,551,753
Construction Materials - 0.6%
Anhui Conch Cement Co. Ltd. (H Shares)	746,000		4,131,660
Asia Cement Corp.	3,127,080		2,964,196
China Shanshui Cement Group Ltd.	10,698,000		6,241,918
			13,337,774
Metals & Mining - 3.3%
BlueScope Steel Ltd.	6,997,424		16,211,177
China Steel Corp.	20,445,000		20,787,189
Fushan International Energy Group Ltd.	10,308,000		8,908,697
Hidili Industry International Development Ltd. (a)	10,681,000		11,294,639
Jiangxi Copper Co. Ltd. (H Shares) (c)	5,428,000		10,962,337
Xingda International Holdings Ltd.	12,842,000		5,987,679
Zhaojin Mining Industry Co. Ltd. (H Shares)	347,500		624,824
			74,776,542
Paper & Forest Products - 0.4%
Nine Dragons Paper (Holdings) Ltd.	6,355,000		9,003,793
TOTAL MATERIALS			135,669,862
TELECOMMUNICATION SERVICES - 3.9%
Diversified Telecommunication Services - 0.3%
China Unicom (Hong Kong) Ltd.	5,048,000		5,631,676
Wireless Telecommunication Services - 3.6%
China Mobile (Hong Kong) Ltd.	7,649,500		71,864,990
Taiwan Mobile Co. Ltd.	5,245,000		10,156,906
			82,021,896
TOTAL TELECOMMUNICATION SERVICES			87,653,572
	Shares		Value
UTILITIES - 0.4%
Gas Utilities - 0.2%
Xinao Gas Holdings Ltd.	1,514,000		$ 3,599,771
Independent Power Producers & Energy Traders - 0.2%
China Resources Power Holdings Co. Ltd.	2,942,600		5,715,442
TOTAL UTILITIES			9,315,213
TOTAL COMMON STOCKS (Cost $1,982,790,659)		2,208,511,543
Money Market Funds - 2.9%
Fidelity Cash Central Fund, 0.17% (d)	48,225,924		48,225,924
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	17,260,100		17,260,100
TOTAL MONEY MARKET FUNDS (Cost $65,486,024)		65,486,024

TOTAL INVESTMENT PORTFOLIO - 101.0% (Cost $2,048,276,683) 2,273,997,567

NET OTHER ASSETS - (1.0)%		(22,819,128)
NET ASSETS - 100%	$ 2,251,178,439

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 17,062
Fidelity Securities Lending Cash Central Fund	160,935
Total	$ 177,997

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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	$ 214,856,445	$ 214,856,445	$ -	$ -
Consumer Staples	87,839,532	87,839,532	-	-
Energy	176,119,605	62,398,302	113,721,303	-
Financials	814,002,199	733,974,119	80,028,080	-
Health Care	31,294,632	31,294,632	-	-
Industrials	212,619,669	212,619,669	-	-
Information Technology	439,140,814	439,140,814	-	-
Materials	135,669,862	135,669,862	-	-
Telecommunication Services	87,653,572	10,156,906	77,496,666	-
Utilities	9,315,213	9,315,213	-	-
Money Market Funds	65,486,024	65,486,024	-	-
Total Investments in Securities:	$ 2,273,997,567	$ 2,002,751,518	$ 271,246,049	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $2,057,013,025. Net unrealized appreciation aggregated $216,984,542, of which $350,979,711 related to appreciated investment securities and $133,995,169 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor China Region Fund:
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity®
China Region Fund

1.861467.101

AHKC-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%
	Shares		Value
CONSUMER DISCRETIONARY - 9.5%
Auto Components - 0.6%
Cheng Shin Rubber Industry Co. Ltd.	3,561,500		$ 6,852,252
Minth Group Ltd.	5,376,000		6,806,597
			13,658,849
Automobiles - 1.0%
Dongfeng Motor Group Co. Ltd. (H Shares)	18,128,000		23,769,221
Distributors - 2.7%
China Resources Enterprise Ltd.	5,782,000		19,064,935
Li & Fung Ltd.	9,196,000		42,166,371
			61,231,306
Hotels, Restaurants & Leisure - 1.0%
Ctrip.com International Ltd. sponsored ADR (a)	697,600		21,827,904
Household Durables - 1.0%
Techtronic Industries Co. Ltd.	26,394,500		21,893,570
Multiline Retail - 1.2%
Far East Department Stores Co. Ltd.	9,308,820		8,911,306
Golden Eagle Retail Group Ltd. (H Shares)	3,794,000		6,851,136
Maoye International Holdings Ltd. (c)	43,258,000		10,418,983
			26,181,425
Specialty Retail - 0.5%
Esprit Holdings Ltd.	1,754,343		12,450,402
Textiles, Apparel & Luxury Goods - 1.5%
Bosideng International Holdings Ltd.	8,916,000		1,768,512
Li Ning Co. Ltd.	1,277,500		3,899,658
Texwinca Holdings Ltd.	16,242,000		14,350,958
Weiqiao Textile Co. Ltd. (H Shares)	20,601,500		13,824,640
			33,843,768
TOTAL CONSUMER DISCRETIONARY			214,856,445
CONSUMER STAPLES - 3.9%
Food & Staples Retailing - 0.8%
Dairy Farm International Holdings Ltd.	2,642,400		16,911,360
Food Products - 2.1%
China Agri-Industries Holding Ltd.	11,813,000		16,219,396
China Foods Ltd.	7,310,000		6,251,766
China Mengniu Dairy Co. Ltd. (a)	4,504,000		13,922,810
Tingyi (Cayman Island) Holding Corp.	3,452,000		7,469,600
Want Want China Holdings Ltd.	5,577,000		3,577,233
			47,440,805
Personal Products - 1.0%
BaWang International (Group) Holding Ltd.	13,826,000		7,995,768
Hengan International Group Co. Ltd.	2,313,000		15,491,599
			23,487,367
TOTAL CONSUMER STAPLES			87,839,532
	Shares		Value
ENERGY - 7.8%
Energy Equipment & Services - 0.6%
China Oilfield Services Ltd. (H Shares)	10,822,000		$ 12,935,189
Oil, Gas & Consumable Fuels - 7.2%
China Coal Energy Co. Ltd. (H Shares)	8,611,000		13,198,295
China Petroleum & Chemical Corp. (H Shares)	29,678,000		23,088,354
China Shenhua Energy Co. Ltd. (H Shares)	3,019,500		12,989,689
CNOOC Ltd.	37,343,000		52,359,352
CNPC (Hong Kong) Ltd.	10,630,000		13,267,048
PetroChina Co. Ltd. (H Shares)	34,270,000		38,273,597
SouthGobi Energy Resources Ltd.	136,000		1,961,888
Yanzhou Coal Mining Co. Ltd. (H Shares)	4,046,000		8,046,193
			163,184,416
TOTAL ENERGY			176,119,605
FINANCIALS - 36.2%
Capital Markets - 1.5%
Yuanta Financial Holding Co. Ltd.	53,227,000		33,969,366
Commercial Banks - 15.5%
Bank of China (H Shares)	144,531,000		69,808,699
BOC Hong Kong Holdings Ltd.	24,201,000		50,808,712
China Citic Bank Corp. Ltd. Class H	9,945,000		6,699,212
China Construction Bank Corp. (H Shares)	94,071,000		72,455,976
China Merchants Bank Co. Ltd. (H Shares)	11,630,500		27,054,119
Chinatrust Financial Holding Co. Ltd.	33,511,601		18,346,723
E.Sun Financial Holdings Co. Ltd.	12,980,410		4,872,984
HSBC Holdings PLC (Hong Kong) (Reg.)	1,327,600		14,172,896
Industrial & Commercial Bank of China Ltd. (H Shares)	94,359,000		69,274,828
Mega Financial Holding Co. Ltd.	19,214,000		10,398,943
Sinopac Holdings Co. (a)	16,800,000		5,544,815
Wing Hang Bank Ltd.	60,000		506,186
			349,944,093
Diversified Financial Services - 4.1%
China Everbright Ltd.	3,710,000		8,792,432
Fubon Financial Holding Co. Ltd. (a)	10,810,000		12,648,021
Hong Kong Exchanges and Clearing Ltd.	4,107,800		69,998,124
			91,438,577
Insurance - 5.9%
Cathay Financial Holding Co. Ltd. (a)	21,018,000		35,638,217
China Insurance International Holdings Co. Ltd. (a)	1,951,600		6,171,057
China Life Insurance Co. Ltd. (H Shares)	14,933,000		65,855,184
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	2,803,000		21,950,476
Shin Kong Financial Holding Co. Ltd. (a)	5,866,980		2,248,412
			131,863,346
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 9.2%
Cheung Kong Holdings Ltd.	2,991,000		$ 35,461,530
China Overseas Land & Investment Ltd.	5,487,920		9,839,302
China Resources Land Ltd.	1,308,000		2,372,071
Farglory Land Development Co. Ltd.	2,381,000		5,065,165
Hang Lung Properties Ltd.	6,089,000		20,783,042
Henderson Land Development Co. Ltd.	3,158,000		19,991,847
Kerry Properties Ltd.	2,589,500		11,573,445
New World Development Co. Ltd.	12,821,000		21,137,282
Poly (Hong Kong) Investments Ltd.	9,553,000		9,523,531
Shimao Property Holdings Ltd.	10,276,000		15,882,637
Sino Land Co.	2,414,000		4,004,704
Sino-Ocean Land Holdings Ltd.	6,484,866		5,303,859
Sun Hung Kai Properties Ltd.	3,549,000		45,848,402
			206,786,817
TOTAL FINANCIALS			814,002,199
HEALTH CARE - 1.4%
Health Care Providers & Services - 0.5%
Sinopharm Group Co. Ltd. Class H	3,005,200		11,341,181
Pharmaceuticals - 0.9%
China Shineway Pharmaceutical Group Ltd.	11,391,000		19,953,451
TOTAL HEALTH CARE			31,294,632
INDUSTRIALS - 9.5%
Airlines - 1.1%
Air China Ltd. (H Shares) (a)	19,756,000		16,539,777
Cathay Pacific Airways Ltd. (a)	4,107,000		6,770,986
			23,310,763
Electrical Equipment - 0.9%
China High Speed Transmission Equipment Group Co. Ltd.	6,071,000		12,167,100
Dongfang Electric Corp. Ltd.	1,758,200		8,729,913
			20,897,013
Industrial Conglomerates - 2.8%
Beijing Enterprises Holdings Ltd.	1,058,500		7,382,553
Far Eastern Textile Ltd.	17,520,420		19,293,564
Hutchison Whampoa Ltd.	3,232,000		22,125,439
Shanghai Industrial Holdings Ltd.	3,149,000		14,702,729
			63,504,285
Machinery - 1.4%
China International Marine Containers Co. Ltd. (B Shares)	8,527,499		11,741,313
Haitian International Holdings Ltd.	13,714,000		7,224,449
Sinotruk Hong Kong Ltd.	1,688,000		1,971,955
Weichai Power Co. Ltd. (H Shares)	1,378,000		9,983,642
			30,921,359
	Shares		Value
Marine - 1.7%
China Cosco Holdings Co. Ltd. (H Shares) (c)	12,502,000		$ 14,911,034
Orient Overseas International Ltd.	1,585,000		10,881,124
Shun Tak Holdings Ltd.	20,066,000		11,681,981
			37,474,139
Transportation Infrastructure - 1.6%
China Merchant Holdings International Co. Ltd.	1,984,000		6,656,818
Cosco Pacific Ltd.	6,786,000		9,929,090
Zhejiang Expressway Co. Ltd. (H Shares)	22,818,000		19,926,202
			36,512,110
TOTAL INDUSTRIALS			212,619,669
INFORMATION TECHNOLOGY - 19.5%
Communications Equipment - 2.0%
Vtech Holdings Ltd.	2,924,000		28,980,326
ZTE Corp. (H Shares)	2,725,420		16,007,207
			44,987,533
Computers & Peripherals - 0.5%
Acer, Inc.	3,681,810		10,331,874
Electronic Equipment & Components - 8.7%
AU Optronics Corp.	7,798,090		8,745,863
BYD Co. Ltd. (H Shares) (a)(c)	2,058,800		15,088,418
Coretronic Corp.	14,981,000		21,324,433
Delta Electronics, Inc.	2,386,000		7,240,482
Hon Hai Precision Industry Co. Ltd. (Foxconn)	17,254,225		72,601,072
Kingboard Chemical Holdings Ltd.	3,216,500		13,795,742
Kingboard Chemical Holdings Ltd. rights (a)	189,205		0
Kingboard Laminates Holdings Ltd.	21,109,000		14,953,664
Prime View International Co. Ltd. (a)	5,395,000		9,890,411
Tripod Technology Corp.	3,217,820		11,073,368
Unimicron Technology Corp.	17,206,000		21,019,687
			195,733,140
Internet Software & Services - 4.3%
Alibaba.com Ltd. (c)	2,065,500		4,682,256
Sohu.com, Inc. (a)	202,700		10,205,945
Tencent Holdings Ltd.	4,409,700		82,469,417
			97,357,618
Semiconductors & Semiconductor Equipment - 4.0%
Epistar Corp.	1,482,000		4,705,866
MediaTek, Inc.	2,071,262		33,694,861
Taiwan Semiconductor Manufacturing Co. Ltd.	27,198,796		52,329,922
			90,730,649
TOTAL INFORMATION TECHNOLOGY			439,140,814
Common Stocks - continued
	Shares		Value
MATERIALS - 6.0%
Chemicals - 1.7%
Formosa Plastics Corp.	7,854,250		$ 16,364,557
Huabao International Holdings Ltd.	2,570,000		2,615,035
Nan Ya Plastics Corp.	1,805,000		3,388,081
Sinofert Holdings Ltd.	8,920,000		5,193,027
Taiwan Fertilizer Co. Ltd.	3,362,000		10,991,053
			38,551,753
Construction Materials - 0.6%
Anhui Conch Cement Co. Ltd. (H Shares)	746,000		4,131,660
Asia Cement Corp.	3,127,080		2,964,196
China Shanshui Cement Group Ltd.	10,698,000		6,241,918
			13,337,774
Metals & Mining - 3.3%
BlueScope Steel Ltd.	6,997,424		16,211,177
China Steel Corp.	20,445,000		20,787,189
Fushan International Energy Group Ltd.	10,308,000		8,908,697
Hidili Industry International Development Ltd. (a)	10,681,000		11,294,639
Jiangxi Copper Co. Ltd. (H Shares) (c)	5,428,000		10,962,337
Xingda International Holdings Ltd.	12,842,000		5,987,679
Zhaojin Mining Industry Co. Ltd. (H Shares)	347,500		624,824
			74,776,542
Paper & Forest Products - 0.4%
Nine Dragons Paper (Holdings) Ltd.	6,355,000		9,003,793
TOTAL MATERIALS			135,669,862
TELECOMMUNICATION SERVICES - 3.9%
Diversified Telecommunication Services - 0.3%
China Unicom (Hong Kong) Ltd.	5,048,000		5,631,676
Wireless Telecommunication Services - 3.6%
China Mobile (Hong Kong) Ltd.	7,649,500		71,864,990
Taiwan Mobile Co. Ltd.	5,245,000		10,156,906
			82,021,896
TOTAL TELECOMMUNICATION SERVICES			87,653,572
	Shares		Value
UTILITIES - 0.4%
Gas Utilities - 0.2%
Xinao Gas Holdings Ltd.	1,514,000		$ 3,599,771
Independent Power Producers & Energy Traders - 0.2%
China Resources Power Holdings Co. Ltd.	2,942,600		5,715,442
TOTAL UTILITIES			9,315,213
TOTAL COMMON STOCKS (Cost $1,982,790,659)		2,208,511,543
Money Market Funds - 2.9%
Fidelity Cash Central Fund, 0.17% (d)	48,225,924		48,225,924
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	17,260,100		17,260,100
TOTAL MONEY MARKET FUNDS (Cost $65,486,024)		65,486,024

TOTAL INVESTMENT PORTFOLIO - 101.0% (Cost $2,048,276,683) 2,273,997,567

NET OTHER ASSETS - (1.0)%		(22,819,128)
NET ASSETS - 100%	$ 2,251,178,439

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 17,062
Fidelity Securities Lending Cash Central Fund	160,935
Total	$ 177,997

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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	$ 214,856,445	$ 214,856,445	$ -	$ -
Consumer Staples	87,839,532	87,839,532	-	-
Energy	176,119,605	62,398,302	113,721,303	-
Financials	814,002,199	733,974,119	80,028,080	-
Health Care	31,294,632	31,294,632	-	-
Industrials	212,619,669	212,619,669	-	-
Information Technology	439,140,814	439,140,814	-	-
Materials	135,669,862	135,669,862	-	-
Telecommunication Services	87,653,572	10,156,906	77,496,666	-
Utilities	9,315,213	9,315,213	-	-
Money Market Funds	65,486,024	65,486,024	-	-
Total Investments in Securities:	$ 2,273,997,567	$ 2,002,751,518	$ 271,246,049	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $2,057,013,025. Net unrealized appreciation aggregated $216,984,542, of which $350,979,711 related to appreciated investment securities and $133,995,169 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® Diversified International Fund -
Diversified International
Class K
Class F

January 31, 2010

1.813063.105

DIF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.3%
	Shares		Value
Australia - 2.4%
AMP Ltd.	11,328,713		$ 62,709,015
BHP Billiton Ltd. sponsored ADR (c)	5,901,000		409,352,370
National Australia Bank Ltd.	3,800,000		88,607,156
Newcrest Mining Ltd.	2,500,000		69,701,006
QBE Insurance Group Ltd.	7,220,000		146,327,813
Rio Tinto Ltd.	1,135,575		68,280,989
TOTAL AUSTRALIA			844,978,349
Bailiwick of Jersey - 1.2%
Experian PLC	16,500,000		156,880,338
Informa PLC (d)	30,462,087		159,625,433
Randgold Resources Ltd. sponsored ADR	500,000		34,465,000
WPP PLC	8,000,000		73,817,653
TOTAL BAILIWICK OF JERSEY			424,788,424
Belgium - 1.3%
Anheuser-Busch InBev SA NV	8,241,700		411,262,646
Anheuser-Busch InBev SA NV (strip VVPR) (a)	5,339,200		36,754
Fortis (a)	14,500,000		51,042,458
TOTAL BELGIUM			462,341,858
Bermuda - 0.4%
Clear Media Ltd. (a)	22,325,000		13,083,385
Huabao International Holdings Ltd.	21,290,000		21,663,071
Seadrill Ltd. (c)	4,600,000		104,377,673
TOTAL BERMUDA			139,124,129
Brazil - 1.3%
Banco Santander (Brasil) SA ADR	6,000,000		72,240,000
BM&F BOVESPA SA	5,000,000		33,607,427
Fibria Celulose SA sponsored ADR (a)(c)	2,400,000		43,872,000
Itau Unibanco Banco Multiplo SA ADR	4,650,000		89,094,000
Petroleo Brasileiro SA - Petrobras sponsored ADR	2,600,000		105,482,000
Vivo Participacoes SA sponsored ADR	5,000,000		139,950,000
TOTAL BRAZIL			484,245,427
Canada - 4.6%
Agnico-Eagle Mines Ltd. (Canada)	1,500,000		75,820,630
Air Canada:
warrants 10/27/12 (a)(e)	3,421,100		975,812
Class A (a)(e)	6,842,200		8,638,333
Barrick Gold Corp.	1,286,600		44,663,417
Canadian Natural Resources Ltd.	1,950,000		124,462,265
Canadian Pacific Railway Ltd.	1,600,000		75,533,527
CGI Group, Inc. Class A (sub. vtg.) (a)	124,500		1,640,517
Crescent Point Energy Corp. (c)	340,000		12,034,976
Goldcorp, Inc.	1,000,000		33,891,331
Niko Resources Ltd.	2,350,000		217,000,842
Open Text Corp. (a)	1,000,000		39,399,607
OZ Optics Ltd. unit (a)(g)	102,000		481,440
	Shares		Value
Painted Pony Petroleum Ltd. (a)(e)	677,100		$ 4,432,526
Painted Pony Petroleum Ltd. Class A (a)	1,450,000		9,492,191
PetroBakken Energy Ltd. Class A	4,250,000		117,845,787
Petrobank Energy & Resources Ltd. (a)(c)(d)	5,475,000		270,498,691
Research In Motion Ltd. (a)	1,450,800		91,342,371
Silver Wheaton Corp. (a)	5,000,000		68,970,354
Suncor Energy, Inc.	9,992,000		315,467,989
Trican Well Service Ltd. (d)	7,000,000		90,470,401
Ultra Petroleum Corp. (a)	660,200		30,329,588
Yamana Gold, Inc.	2,945,900		29,671,133
TOTAL CANADA			1,663,063,728
Cayman Islands - 0.2%
Belle International Holdings Ltd.	16,510,000		18,776,950
Hengan International Group Co. Ltd.	5,522,000		36,984,267
Sany Heavy Equipment International Holdings Co. Ltd.	1,718,000		1,781,297
TOTAL CAYMAN ISLANDS			57,542,514
China - 0.6%
Baidu.com, Inc. sponsored ADR (a)	114,600		47,181,966
BYD Co. Ltd. (H Shares) (a)(c)	4,248,000		31,132,503
China Merchants Bank Co. Ltd. (H Shares)	46,166,850		107,390,350
Global Bio-Chem Technology Group Co. Ltd.	36,981,600		10,336,243
NetEase.com, Inc. sponsored ADR (a)	548,400		17,987,520
Tencent Holdings Ltd.	988,000		18,477,399
TOTAL CHINA			232,505,981
Czech Republic - 0.1%
Komercni Banka AS	96,000		19,373,677
Denmark - 1.4%
A.P. Moller - Maersk AS Series B	212		1,654,322
Carlsberg AS Series B	1,580,733		117,887,664
Novo Nordisk AS Series B	4,442,300		300,545,399
William Demant Holding AS (a)	832,700		64,983,902
TOTAL DENMARK			485,071,287
Finland - 0.2%
Fortum Corp.	1,473,700		37,396,200
Nokian Tyres PLC	1,778,000		42,985,331
TOTAL FINLAND			80,381,531
France - 9.2%
Alstom SA	672,859		44,925,184
Atos Origin SA (a)	1,230,586		57,229,368
AXA SA	78,138		1,608,868
AXA SA sponsored ADR (c)	10,100,000		207,959,000
BNP Paribas SA	3,933,350		280,976,457
Bouygues SA	2,227,761		109,670,754
Cap Gemini SA	5,037,700		223,684,952
CFAO SA	1,008,000		40,245,006
CNP Assurances	360,000		31,866,828
Common Stocks - continued
	Shares		Value
France - continued
Danone	2,023,767		$ 115,720,992
Dassault Aviation SA (c)	36,265		26,446,336
Essilor International SA	2,100,000		122,156,632
Euler Hermes SA (UNGTD)	80,884		6,549,661
Financiere Marc de Lacharriere SA (Fimalac) (c)	610,000		32,395,708
GDF Suez	2,124,314		80,193,584
Iliad Group SA	650,000		72,039,906
L'Oreal SA	1,200,000		126,522,795
LVMH Moet Hennessy - Louis Vuitton	800,000		87,160,866
Neopost SA	615,451		48,973,458
Pernod-Ricard SA (c)	2,154,755		173,317,456
PPR SA	2,000,000		243,884,211
Renault SA (a)	19,800		929,459
Sanofi-Aventis	5,858,062		433,155,446
Schneider Electric SA	1,945,317		200,680,680
Societe Generale Series A	2,910,780		168,403,557
Technip SA	1,150,000		78,612,387
Total SA Series B	2,950,000		170,484,223
Unibail-Rodamco	160,000		34,667,895
Vallourec SA	528,240		90,855,966
TOTAL FRANCE			3,311,317,635
Germany - 6.7%
adidas AG	31,100		1,580,367
Aixtron AG	2,051,600		61,715,975
Allianz AG sponsored ADR	13,500,000		147,690,000
BASF AG	1,798,574		102,080,418
Bayerische Motoren Werke AG (BMW)	2,300,230		98,045,051
Continental AG (a)	393,504		21,670,184
Daimler AG (Reg.)	1,936,056		88,690,727
Deutsche Boerse AG	3,439,112		225,138,778
Deutsche Post AG	986,783		17,172,052
E.ON AG	13,200,000		484,493,036
Fresenius Medical Care AG & Co. KGaA	2,198,200		110,870,719
Fresenius SE	2,718,500		165,875,617
GEA Group AG	4,000,000		81,503,296
GFK AG	1,600,000		59,034,820
HeidelbergCement AG	1,089,600		65,659,429
Linde AG	1,440,979		157,518,518
Metro AG	1,064,427		58,060,907
Munich Re Group (Reg.)	728,427		108,810,107
Rheinmetall AG	312,600		19,885,266
RWE AG	837,150		74,039,295
SAP AG	500,000		22,660,000
Siemens AG:
(Reg.)	26,550		2,365,871
sponsored ADR (c)	2,740,000		244,161,400
TOTAL GERMANY			2,418,721,833
	Shares		Value
Greece - 0.1%
Hellenic Telecommunications Organization SA	2,600,000		$ 35,620,231
Hong Kong - 1.4%
China Unicom (Hong Kong) Ltd. sponsored ADR	7,982,500		89,404,000
Hang Lung Properties Ltd.	17,512,000		59,772,152
Henderson Land Development Co. Ltd.	6,800,000		43,047,675
Hong Kong Exchanges and Clearing Ltd.	6,900,000		117,578,037
Hutchison Whampoa Ltd.	10,000,000		68,457,422
Li & Fung Ltd.	5,000,000		22,926,474
Swire Pacific Ltd. (A Shares)	4,000,000		43,714,862
Wharf Holdings Ltd.	8,726,000		43,383,020
TOTAL HONG KONG			488,283,642
India - 1.0%
HDFC Bank Ltd.	1,500,000		53,042,277
Indiabulls Real Estate Ltd. (a)	1,710,239		6,494,273
Infosys Technologies Ltd.	2,407,942		129,232,747
Reliance Industries Ltd.	1,680,000		38,105,496
State Bank of India	1,000,000		44,587,534
Tata Steel Ltd.	6,648,141		82,026,170
TOTAL INDIA			353,488,497
Indonesia - 0.1%
PT Perusahaan Gas Negara Tbk Series B	130,000,000		52,486,694
Ireland - 1.0%
Covidien PLC	2,550,000		128,928,000
CRH PLC	5,997,195		144,012,418
Ryanair Holdings PLC sponsored ADR (a)	2,720,800		70,686,384
TOTAL IRELAND			343,626,802
Israel - 0.6%
Teva Pharmaceutical Industries Ltd. sponsored ADR	3,500,000		198,520,000
Italy - 1.7%
Fiat SpA (a)	17,699,100		221,796,275
Intesa Sanpaolo SpA	40,028,700		152,369,270
Mediaset SpA	9,338,300		70,882,734
UniCredit SpA	23,000,000		63,422,724
Unione di Banche Italiane SCpA	6,350,000		87,157,535
TOTAL ITALY			595,628,538
Japan - 15.0%
Canon, Inc. sponsored ADR	4,743,300		185,510,463
Daiichi Sankyo Kabushiki Kaisha	2,093,600		43,648,555
Denso Corp.	7,000,000		206,657,795
East Japan Railway Co.	1,650,000		110,950,477
Eisai Co. Ltd.	1,850,000		68,962,554
Fanuc Ltd.	1,325,300		127,141,880
Fast Retailing Co. Ltd.	640,800		106,622,528
Common Stocks - continued
	Shares		Value
Japan - continued
Honda Motor Co. Ltd.	6,821,800		$ 231,171,958
Hoya Corp.	1,999,500		53,603,520
Ibiden Co. Ltd.	1,600,000		54,946,270
Japan Tobacco, Inc.	45,832		166,024,852
JFE Holdings, Inc.	965,000		33,780,878
JSR Corp.	4,543,500		89,742,552
Jupiter Telecommunications Co.	40,000		40,101,915
Keyence Corp.	880,000		203,061,917
Kyocera Corp.	1,020,700		92,374,778
Mazda Motor Corp. (a)	25,457,000		69,092,331
Mitsubishi Corp.	6,752,500		163,594,958
Mitsubishi UFJ Financial Group, Inc.	71,942,000		370,198,175
Mitsui & Co. Ltd.	11,912,400		175,776,184
Murata Manufacturing Co. Ltd.	1,150,300		63,268,409
NGK Insulators Ltd.	4,111,000		89,716,070
Nikon Corp.	1,438,300		29,651,891
Nintendo Co. Ltd.	360,000		100,363,263
Nippon Telegraph & Telephone Corp.	1,600,000		67,330,746
Nitto Denko Corp.	2,000,000		76,991,245
Nomura Holdings, Inc.	9,000,000		67,282,827
NSK Ltd.	8,000,000		58,225,322
Omron Corp.	4,001,300		79,742,311
ORIX Corp.	3,260,750		245,630,875
Promise Co. Ltd. (a)(c)	1,825,000		16,901,517
Rakuten, Inc.	170,000		139,171,369
Ricoh Co. Ltd.	5,500,000		78,841,251
ROHM Co. Ltd.	1,346,800		90,860,880
Sankyo Co. Ltd. (Gunma)	1,100,000		58,856,761
Shin-Etsu Chemical Co., Ltd.	1,688,200		88,458,908
SOFTBANK CORP.	3,000,000		76,470,585
Sony Financial Holdings, Inc.	21,400		58,673,976
Sumco Corp.	3,964,900		68,431,527
Sumitomo Corp.	6,500,000		73,374,318
Sumitomo Metal Industries Ltd.	20,000,000		55,167,827
Sumitomo Mitsui Financial Group, Inc.	6,346,500		206,347,366
THK Co. Ltd.	5,000,000		99,202,389
Tokai Carbon Co. Ltd.	6,000,000		28,248,586
Tokyo Electron Ltd.	2,150,000		131,472,244
Toshiba Corp. (a)	26,056,000		143,456,646
Toyota Motor Corp. sponsored ADR	4,900,000		377,300,000
Yahoo! Japan Corp.	299,774		113,739,438
TOTAL JAPAN			5,376,143,087
Korea (South) - 1.7%
Amorepacific Corp.	84,531		59,081,968
LG Household & Health Care Ltd.	200,000		49,011,982
Lotte Shopping Co. Ltd.	71,612		18,476,126
NHN Corp. (a)	1,000,000		149,279,451
Samsung Electronics Co. Ltd.	405,212		274,127,299
Shinhan Financial Group Co. Ltd. (a)	1,928,930		67,518,505
TOTAL KOREA (SOUTH)			617,495,331
	Shares		Value
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A (c)	1,250,000		$ 48,350,000
SES SA FDR (France) unit	5,630,000		123,486,139
TOTAL LUXEMBOURG			171,836,139
Mexico - 0.3%
America Movil SAB de CV Series L sponsored ADR	913,600		39,878,640
Cemex SA de CV sponsored ADR	5,750,000		52,842,500
TOTAL MEXICO			92,721,140
Netherlands - 2.0%
Akzo Nobel NV	755,800		44,988,705
Gemalto NV (a)	1,700,000		67,485,776
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	171,710		1,607,943
sponsored ADR (a)(c)	7,110,626		66,839,884
Koninklijke KPN NV	10,000,000		165,579,192
Koninklijke Philips Electronics NV	85,250		2,574,299
Koninklijke Philips Electronics NV (NY Shares)	4,134,500		125,027,280
QIAGEN NV (a)	2,591,000		56,380,160
Randstad Holdings NV (a)	2,500,000		119,977,038
Royal DSM NV	1,327,200		61,855,703
Unilever NV (Certificaten Van Aandelen) (Bearer) unit	64,000		1,959,614
TOTAL NETHERLANDS			714,275,594
Netherlands Antilles - 0.5%
Schlumberger Ltd.	2,890,200		183,412,092
Norway - 0.8%
DnB NOR ASA (a)	10,150,000		114,616,980
Pronova BioPharma ASA (a)(d)	16,000,000		47,077,454
StatoilHydro ASA	83,000		1,862,613
Telenor ASA (a)	9,545,500		124,057,796
TOTAL NORWAY			287,614,843
Papua New Guinea - 0.4%
Lihir Gold Ltd.	60,000,000		146,962,350
South Africa - 0.8%
African Rainbow Minerals Ltd.	794,500		17,510,561
AngloGold Ashanti Ltd. sponsored ADR	450,000		16,060,500
Aspen Pharmacare Holdings Ltd. (a)	91,200		806,402
Impala Platinum Holdings Ltd.	7,000,000		181,368,562
MTN Group Ltd.	5,061,400		72,674,708
TOTAL SOUTH AFRICA			288,420,733
Spain - 4.3%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR (c)	2,900,000		44,051,000
Banco Santander SA	138,500		1,963,995
Banco Santander SA sponsored ADR	23,250,547		327,367,702
Cintra Concesiones de Infrastructuras de Transporte SA	9,200,000		95,962,065
Common Stocks - continued
	Shares		Value
Spain - continued
Enagas SA	5,000,649		$ 103,653,861
Grupo Acciona SA	290,000		34,953,786
Iberdrola SA	10,126,200		86,210,215
Inditex SA	1,755,565		110,502,637
Red Electrica Corporacion SA	1,700,000		85,223,487
Telefonica SA	27,500,000		658,753,587
TOTAL SPAIN			1,548,642,335
Sweden - 0.4%
H&M Hennes & Mauritz AB (B Shares)	1,880,995		110,688,508
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR (c)	4,700,000		45,496,000
TOTAL SWEDEN			156,184,508
Switzerland - 8.8%
Actelion Ltd. (Reg.) (a)	3,034,726		160,550,793
ARYZTA AG	1,800,000		71,090,291
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	48,400		1,652,583
Clariant AG (Reg.) (a)	201,000		2,205,951
Credit Suisse Group (Reg.)	1,500,000		64,882,654
Kuehne & Nagel International AG	1,400,000		134,932,434
Nestle SA (Reg.)	14,208,360		673,469,058
Nobel Biocare Holding AG (Switzerland)	2,350,000		69,119,496
Novartis AG sponsored ADR (c)	1,380,800		73,914,224
Petroplus Holdings AG	1,484,430		24,997,223
Roche Holding AG (participation certificate)	3,207,817		538,153,246
Schindler Holding AG (Reg.)	1,300,000		97,249,602
SGS Societe Generale de Surveillance Holding SA (Reg.)	70,000		90,002,317
Sonova Holding AG Class B	2,000,000		247,527,587
Sulzer AG (Reg.)	885,300		74,387,409
Swiss Reinsurance Co. (Reg.)	3,127,158		135,180,241
Tecan Group AG (d)	950,000		67,233,118
Transocean Ltd. (a)	1,663,800		140,990,412
UBS AG:
(For. Reg.) (a)	4,297,205		56,041,475
(NY Shares) (a)	12,300,000		160,023,000
Zurich Financial Services AG (Reg.)	1,330,000		282,760,863
TOTAL SWITZERLAND			3,166,363,977
Taiwan - 0.6%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	34,500,000		145,166,588
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	8,039,998		81,686,380
TOTAL TAIWAN			226,852,968
United Kingdom - 16.5%
Anglo American PLC (United Kingdom) (a)	1,838,478		67,453,578
Barclays PLC	64,200,000		274,382,878
Bellway PLC	2,450,000		28,864,166
	Shares		Value
BG Group PLC	18,673,000		$ 343,270,075
BHP Billiton PLC	4,000,000		117,337,393
Bovis Homes Group PLC (a)(d)	7,250,000		45,824,552
BP PLC sponsored ADR	4,200,000		235,704,000
British American Tobacco PLC:
(United Kingdom)	58,950		1,948,522
sponsored ADR	2,208,000		146,920,320
British Land Co. PLC	13,872,765		96,259,306
BT Group PLC	37,875,000		82,654,642
Capita Group PLC	20,500,451		235,926,070
Carphone Warehouse Group PLC	20,856,732		63,287,927
Centrica PLC	594,000		2,549,983
Ensco International Ltd. ADR	2,402,400		93,765,672
GlaxoSmithKline PLC sponsored ADR	250,000		9,752,500
HSBC Holdings PLC:
(United Kingdom) (Reg.)	446,371		4,778,504
sponsored ADR (c)	14,500,000		775,895,004
Imperial Tobacco Group PLC	5,668,749		182,799,035
Inchcape PLC (a)	121,790,000		51,694,117
International Power PLC	14,835,892		75,741,402
ITV PLC	20,883,300		18,726,397
Johnson Matthey PLC	1,000,000		23,247,463
Man Group PLC	17,000,000		63,711,410
Misys PLC (a)	15,000,355		51,229,672
National Grid PLC	6,319,500		63,469,441
Next PLC	2,500,000		77,954,947
Pearson PLC	7,000,000		99,123,168
Persimmon PLC (a)	2,000,000		13,729,751
Prudential PLC	13,300,000		121,807,159
QinetiQ Group PLC	14,230,000		30,339,372
Reckitt Benckiser Group PLC	9,000,000		466,543,172
Rio Tinto PLC:
(Reg.)	1,159,382		56,535,646
sponsored ADR	1,000,000		194,020,000
Royal Dutch Shell PLC:
Class A (United Kingdom)	164,500		4,546,584
Class A sponsored ADR	4,049,200		224,285,188
Class B ADR	8,446,600		450,879,508
Schroders PLC	2,133,326		42,158,181
Segro PLC	6,947,400		34,507,452
Standard Chartered PLC (United Kingdom)	6,179,748		142,338,133
Tesco PLC	37,513,625		253,877,840
Vodafone Group PLC	1,015,000		2,168,387
Vodafone Group PLC sponsored ADR	21,000,000		450,660,000
Wolseley PLC (a)	1,000,000		22,000,204
Xstrata PLC (a)	4,953,166		80,369,332
TOTAL UNITED KINGDOM			5,925,038,053
United States of America - 6.2%
Agilent Technologies, Inc.	2,504,300		70,195,529
Common Stocks - continued
	Shares		Value
United States of America - continued
Allergan, Inc.	2,000,000		$ 115,000,000
AMETEK, Inc.	900,000		32,796,000
Bank of America Corp.	5,940,900		90,182,862
C. R. Bard, Inc.	1,150,000		95,323,500
CME Group, Inc.	402,400		115,416,368
Coach, Inc.	1,500,000		52,320,000
Danaher Corp.	450,000		32,107,500
Express Scripts, Inc. (a)	1,500,000		125,790,000
Google, Inc. Class A (a)	306,800		162,426,056
Henry Schein, Inc. (a)	800,000		43,240,000
Illumina, Inc. (a)	985,260		36,149,189
JPMorgan Chase & Co.	2,209,900		86,053,506
Medco Health Solutions, Inc. (a)	1,350,000		82,998,000
Microsoft Corp.	1,448,000		40,804,640
Morgan Stanley	3,724,900		99,752,822
Newmont Mining Corp.	1,000,000		42,860,000
News Corp. Class A	4,400,000		55,484,000
Pfizer, Inc.	7,111,500		132,700,590
Philip Morris International, Inc.	3,098,800		141,026,388
PNC Financial Services Group, Inc.	2,643,700		146,540,291
Pride International, Inc. (a)	1,338,000		39,604,800
Range Resources Corp.	707,200		32,531,200
Synthes, Inc.	300,000		38,188,432
Visa, Inc. Class A	1,800,000		147,654,000
Wells Fargo & Co.	5,482,100		155,856,103
TOTAL UNITED STATES OF AMERICA			2,213,001,776
TOTAL COMMON STOCKS (Cost $30,918,757,550)		33,806,075,703
Nonconvertible Preferred Stocks - 0.4%
Germany - 0.1%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	792,000		24,784,381
ProSiebenSat.1 Media AG	1,528,700		20,574,862
TOTAL GERMANY			45,359,243
Italy - 0.3%
Fiat SpA (a)	3,950,478		30,237,080
Intesa Sanpaolo SpA	22,000,000		64,523,646
TOTAL ITALY			94,760,726
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $163,401,156)		140,119,969
Money Market Funds - 7.8%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (f)	1,933,017,834		$ 1,933,017,834
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(f)	847,801,107		847,801,107
TOTAL MONEY MARKET FUNDS (Cost $2,780,818,941)		2,780,818,941

TOTAL INVESTMENT PORTFOLIO - 102.5% (Cost $33,862,977,647)		36,727,014,613
NET OTHER ASSETS - (2.5)%		(881,826,895)
NET ASSETS - 100%	$ 35,845,187,718

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) 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 $14,046,671 or 0.0% of net assets.

(f) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(g) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $481,440 or 0.0% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost
OZ Optics Ltd. unit	8/18/00	$ 1,505,520

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliates	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Bovis Homes Group PLC	$ 49,028,663	$ -	$ -	$ -	$ 45,824,552
easyJet PLC	168,495,470	-	164,901,607	-	-
Informa PLC	163,485,254	-	19,078,257	-	159,625,433
Niko Resources Ltd.	204,266,519	3,327,048	21,320,704	61,745	-
Petrobank Energy & Resources Ltd.	239,355,866	-	-	-	270,498,691
Pronova BioPharma ASA	48,182,882	1,312,775	-	-	47,077,454
Tecan Group AG	67,537,277	-	11,660,746	-	67,233,118
Trican Well Service Ltd.	81,839,590	-	-	285,290	90,470,401
Total	$ 1,022,191,521	$ 4,639,823	$ 216,961,314	$ 347,035	$ 680,729,649

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	$ 674,805
Fidelity Securities Lending Cash Central Fund	1,556,590
Total	$ 2,231,395

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 5,925,038,053	$ 2,581,882,192	$ 3,343,155,861	$ -
Japan	5,376,143,087	4,447,421,340	928,721,747	-
France	3,311,317,635	207,959,000	3,103,358,635	-
Switzerland	3,166,363,977	374,927,636	2,791,436,341	-
Germany	2,464,081,076	391,851,400	2,072,229,676	-
United States of America	2,213,001,776	2,174,813,344	38,188,432	-
Canada	1,663,063,728	1,662,582,288	-	481,440
Spain	1,548,642,335	371,418,702	1,177,223,633	-
Australia	844,978,349	844,978,349	-	-
Other	7,433,565,656	3,985,711,705	3,447,853,951	-
Money Market Funds	2,780,818,941	2,780,818,941	-	-
Total Investments in Securities:	$ 36,727,014,613	$ 19,824,364,897	$ 16,902,168,276	$ 481,440

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

Investments in Securities:
Beginning Balance	$ 481,440
Total Realized Gain (Loss)	-
Total Unrealized Gain (Loss)	-
Cost of Purchases	-
Proceeds of Sales	-
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ 481,440
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $33,949,488,155. Net unrealized appreciation aggregated $2,777,526,458, of which $5,637,898,531 related to appreciated investment securities and $2,860,372,073 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Emerging Europe,
Middle East, Africa (EMEA) Fund

January 31, 2010

1.861978.101

EME-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 102.0%
	Shares		Value
Bailiwick of Jersey - 0.3%
Randgold Resources Ltd.	5,000		$ 345,547
Czech Republic - 1.6%
Ceske Energeticke Zavody AS	15,150		737,304
Komercni Banka AS	6,500		1,311,759
TOTAL CZECH REPUBLIC			2,049,063
Egypt - 0.5%
Telecom Egypt SAE	204,900		684,625
Israel - 17.7%
Bezeq Israeli Telecommunication Corp. Ltd.	698,200		1,798,101
Cellcom Israel Ltd.	12,000		386,863
Check Point Software Technologies Ltd. (a)	60,100		1,921,998
Mizrahi Tefahot Bank Ltd. (a)	241,200		2,191,229
Partner Communications Co. Ltd.	28,528		592,188
Partner Communications Co. Ltd. ADR	21,800		452,132
Shufersal Ltd.	324,900		1,863,263
Teva Pharmaceutical Industries Ltd.	198,600		11,304,321
Teva Pharmaceutical Industries Ltd. sponsored ADR	43,500		2,467,320
TOTAL ISRAEL			22,977,415
Kenya - 1.5%
British American Tobacco Kenya Ltd.	173,000		403,439
East African Breweries Ltd.	418,995		828,053
Safaricom Ltd.	9,596,063		663,759
TOTAL KENYA			1,895,251
Morocco - 0.9%
Maroc Telecom	64,800		1,166,418
Nigeria - 3.6%
Guaranty Trust Bank PLC GDR (Reg. S)	416,571		3,143,778
Nigerian Breweries PLC	912,403		327,348
United Bank for Africa PLC	3,321,707		274,003
Zenith Bank PLC (a)	9,565,204		970,273
TOTAL NIGERIA			4,715,402
Poland - 2.1%
Bank Polska Kasa Opieki SA (a)	39,900		2,336,090
Eurocash SA	60,000		353,962
TOTAL POLAND			2,690,052
Common Stocks - continued
	Shares		Value
Qatar - 1.2%
Commercial Bank of Qatar GDR (Reg. S)	73,213		$ 254,452
Qatar National Bank SAQ	33,100		1,353,729
TOTAL QATAR			1,608,181
Russia - 31.2%
Comstar United TeleSystems OJSC GDR (Reg. S)	648,100		3,842,073
Lukoil Oil Co. sponsored ADR	121,695		6,655,096
Mosenergo AO (a)	5,437,700		663,399
Novolipetsk Steel Ojsc (a)	47,400		1,447,347
Novorossiysk Commercial Sea Port JSC (a)	2,000,000		300,000
OAO Gazprom	1,909,200		11,455,199
OAO NOVATEK	57,200		317,460
OAO NOVATEK GDR	23,900		1,692,986
OJSC Oil Co. Rosneft (a)	41,800		319,770
OJSC Oil Company Rosneft GDR (Reg. S)	173,800		1,336,699
Polymetal JSC (a)	92,100		902,580
Polymetal JSC GDR (Reg. S) (a)	196,850		1,827,664
Sberbank (Savings Bank of the Russian Federation)	2,147,400		6,259,671
Sibirtelecom OJSC	6,798,400		333,801
Sistema JSFC sponsored GDR (a)	12,300		305,348
Surgutneftegaz JSC sponsored ADR	31,100		261,882
Uralkali JSC GDR (Reg. S) (a)	46,200		986,806
VolgaTelecom sponsored ADR	55,400		340,710
VTB Bank JSC unit	179,700		895,779
Wimm-Bill-Dann Foods OJSC sponsored ADR (a)	15,900		330,402
TOTAL RUSSIA			40,474,672
South Africa - 39.7%
Africa Cellular Towers Ltd. (a)	5,335,800		377,999
African Rainbow Minerals Ltd.	48,500		1,068,927
AngloGold Ashanti Ltd.	49,900		1,826,097
Aspen Pharmacare Holdings Ltd. (a)	168,600		1,490,783
Austro Group Ltd.	1,148,600		69,314
Aveng Ltd.	221,700		1,032,502
Bidvest Group Ltd.	68,300		1,175,309
Cashbuild Ltd.	186,500		1,786,070
Clicks Group Ltd.	784,959		2,728,913
DataTec Ltd.	40,000		149,975
DRDGOLD Ltd.	2,030,354		1,153,338
Exxaro Resources Ltd.	194,600		2,706,111
FirstRand Ltd.	1,277,900		3,126,602
Harmony Gold Mining Co. Ltd.	219,400		2,027,452
Common Stocks - continued
	Shares		Value
South Africa - continued
Illovo Sugar Ltd.	158,603		$ 698,073
Impala Platinum Holdings Ltd.	43,200		1,119,303
MTN Group Ltd.	417,750		5,998,313
Mvelaphanda Resources Ltd. (a)	100,000		665,783
Naspers Ltd. Class N	49,100		1,739,170
Netcare Ltd.	200,000		341,091
Paracon Holdings Ltd.	2,889,628		739,220
Raubex Group Ltd.	765,100		2,268,420
Sanlam Ltd.	791,400		2,375,467
Sasol Ltd.	126,500		4,762,876
Shoprite Holdings Ltd.	460,100		4,216,145
Standard Bank Group Ltd.	201,400		2,875,973
Steinhoff International Holdings Ltd.	338,200		864,290
Tiger Brands Ltd.	47,800		1,109,936
Woolworths Holdings Ltd.	360,265		863,963
TOTAL SOUTH AFRICA			51,357,415
Turkey - 0.3%
Koc Holding AS	100,000		340,693
United Arab Emirates - 0.7%
National Bank of Abu Dhabi PJSC (a)	277,569		846,385
United Kingdom - 0.2%
Hikma Pharmaceuticals PLC	36,607		319,607
Zambia - 0.5%
Celtel Zambia Ltd.	3,109,948		341,003
Zambeef Products PLC	286,637		238,864
TOTAL ZAMBIA			579,867
TOTAL COMMON STOCKS (Cost $127,806,719)		132,050,593
Money Market Funds - 3.0%
	Shares
Fidelity Cash Central Fund, 0.17% (b) (Cost $3,926,399)	3,926,399		3,926,399
TOTAL INVESTMENT PORTFOLIO - 105.0% (Cost $131,733,118)			135,976,992
NET OTHER ASSETS - (5.0)%			(6,444,416)
NET ASSETS - 100%		$ 129,532,576

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,359

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
South Africa	$ 51,357,415	$ 49,329,963	$ 2,027,452	$ -
Russia	40,474,672	21,222,992	19,251,680	-
Israel	22,977,415	22,977,415	-	-
Nigeria	4,715,402	1,571,624	3,143,778	-
Poland	2,690,052	2,690,052	-	-
Czech Republic	2,049,063	2,049,063	-	-
Kenya	1,895,251	1,895,251	-	-
Qatar	1,608,181	1,353,729	254,452	-
Morocco	1,166,418	-	1,166,418	-
Other	3,116,724	2,451,570	665,154	-
Money Market Funds	3,926,399	3,926,399	-	-
Total Investments in Securities:	$ 135,976,992	$ 109,468,058	$ 26,508,934	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $132,543,061. Net unrealized appreciation aggregated $3,433,931, of which $16,751,789 related to appreciated investment securities and $13,317,858 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor
Emerging Europe, Middle East,
Africa (EMEA) Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

1.861996.101

AEME-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 102.0%
	Shares		Value
Bailiwick of Jersey - 0.3%
Randgold Resources Ltd.	5,000		$ 345,547
Czech Republic - 1.6%
Ceske Energeticke Zavody AS	15,150		737,304
Komercni Banka AS	6,500		1,311,759
TOTAL CZECH REPUBLIC			2,049,063
Egypt - 0.5%
Telecom Egypt SAE	204,900		684,625
Israel - 17.7%
Bezeq Israeli Telecommunication Corp. Ltd.	698,200		1,798,101
Cellcom Israel Ltd.	12,000		386,863
Check Point Software Technologies Ltd. (a)	60,100		1,921,998
Mizrahi Tefahot Bank Ltd. (a)	241,200		2,191,229
Partner Communications Co. Ltd.	28,528		592,188
Partner Communications Co. Ltd. ADR	21,800		452,132
Shufersal Ltd.	324,900		1,863,263
Teva Pharmaceutical Industries Ltd.	198,600		11,304,321
Teva Pharmaceutical Industries Ltd. sponsored ADR	43,500		2,467,320
TOTAL ISRAEL			22,977,415
Kenya - 1.5%
British American Tobacco Kenya Ltd.	173,000		403,439
East African Breweries Ltd.	418,995		828,053
Safaricom Ltd.	9,596,063		663,759
TOTAL KENYA			1,895,251
Morocco - 0.9%
Maroc Telecom	64,800		1,166,418
Nigeria - 3.6%
Guaranty Trust Bank PLC GDR (Reg. S)	416,571		3,143,778
Nigerian Breweries PLC	912,403		327,348
United Bank for Africa PLC	3,321,707		274,003
Zenith Bank PLC (a)	9,565,204		970,273
TOTAL NIGERIA			4,715,402
Poland - 2.1%
Bank Polska Kasa Opieki SA (a)	39,900		2,336,090
Eurocash SA	60,000		353,962
TOTAL POLAND			2,690,052
Common Stocks - continued
	Shares		Value
Qatar - 1.2%
Commercial Bank of Qatar GDR (Reg. S)	73,213		$ 254,452
Qatar National Bank SAQ	33,100		1,353,729
TOTAL QATAR			1,608,181
Russia - 31.2%
Comstar United TeleSystems OJSC GDR (Reg. S)	648,100		3,842,073
Lukoil Oil Co. sponsored ADR	121,695		6,655,096
Mosenergo AO (a)	5,437,700		663,399
Novolipetsk Steel Ojsc (a)	47,400		1,447,347
Novorossiysk Commercial Sea Port JSC (a)	2,000,000		300,000
OAO Gazprom	1,909,200		11,455,199
OAO NOVATEK	57,200		317,460
OAO NOVATEK GDR	23,900		1,692,986
OJSC Oil Co. Rosneft (a)	41,800		319,770
OJSC Oil Company Rosneft GDR (Reg. S)	173,800		1,336,699
Polymetal JSC (a)	92,100		902,580
Polymetal JSC GDR (Reg. S) (a)	196,850		1,827,664
Sberbank (Savings Bank of the Russian Federation)	2,147,400		6,259,671
Sibirtelecom OJSC	6,798,400		333,801
Sistema JSFC sponsored GDR (a)	12,300		305,348
Surgutneftegaz JSC sponsored ADR	31,100		261,882
Uralkali JSC GDR (Reg. S) (a)	46,200		986,806
VolgaTelecom sponsored ADR	55,400		340,710
VTB Bank JSC unit	179,700		895,779
Wimm-Bill-Dann Foods OJSC sponsored ADR (a)	15,900		330,402
TOTAL RUSSIA			40,474,672
South Africa - 39.7%
Africa Cellular Towers Ltd. (a)	5,335,800		377,999
African Rainbow Minerals Ltd.	48,500		1,068,927
AngloGold Ashanti Ltd.	49,900		1,826,097
Aspen Pharmacare Holdings Ltd. (a)	168,600		1,490,783
Austro Group Ltd.	1,148,600		69,314
Aveng Ltd.	221,700		1,032,502
Bidvest Group Ltd.	68,300		1,175,309
Cashbuild Ltd.	186,500		1,786,070
Clicks Group Ltd.	784,959		2,728,913
DataTec Ltd.	40,000		149,975
DRDGOLD Ltd.	2,030,354		1,153,338
Exxaro Resources Ltd.	194,600		2,706,111
FirstRand Ltd.	1,277,900		3,126,602
Harmony Gold Mining Co. Ltd.	219,400		2,027,452
Common Stocks - continued
	Shares		Value
South Africa - continued
Illovo Sugar Ltd.	158,603		$ 698,073
Impala Platinum Holdings Ltd.	43,200		1,119,303
MTN Group Ltd.	417,750		5,998,313
Mvelaphanda Resources Ltd. (a)	100,000		665,783
Naspers Ltd. Class N	49,100		1,739,170
Netcare Ltd.	200,000		341,091
Paracon Holdings Ltd.	2,889,628		739,220
Raubex Group Ltd.	765,100		2,268,420
Sanlam Ltd.	791,400		2,375,467
Sasol Ltd.	126,500		4,762,876
Shoprite Holdings Ltd.	460,100		4,216,145
Standard Bank Group Ltd.	201,400		2,875,973
Steinhoff International Holdings Ltd.	338,200		864,290
Tiger Brands Ltd.	47,800		1,109,936
Woolworths Holdings Ltd.	360,265		863,963
TOTAL SOUTH AFRICA			51,357,415
Turkey - 0.3%
Koc Holding AS	100,000		340,693
United Arab Emirates - 0.7%
National Bank of Abu Dhabi PJSC (a)	277,569		846,385
United Kingdom - 0.2%
Hikma Pharmaceuticals PLC	36,607		319,607
Zambia - 0.5%
Celtel Zambia Ltd.	3,109,948		341,003
Zambeef Products PLC	286,637		238,864
TOTAL ZAMBIA			579,867
TOTAL COMMON STOCKS (Cost $127,806,719)		132,050,593
Money Market Funds - 3.0%
	Shares
Fidelity Cash Central Fund, 0.17% (b) (Cost $3,926,399)	3,926,399		3,926,399
TOTAL INVESTMENT PORTFOLIO - 105.0% (Cost $131,733,118)			135,976,992
NET OTHER ASSETS - (5.0)%			(6,444,416)
NET ASSETS - 100%		$ 129,532,576

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,359

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
South Africa	$ 51,357,415	$ 49,329,963	$ 2,027,452	$ -
Russia	40,474,672	21,222,992	19,251,680	-
Israel	22,977,415	22,977,415	-	-
Nigeria	4,715,402	1,571,624	3,143,778	-
Poland	2,690,052	2,690,052	-	-
Czech Republic	2,049,063	2,049,063	-	-
Kenya	1,895,251	1,895,251	-	-
Qatar	1,608,181	1,353,729	254,452	-
Morocco	1,166,418	-	1,166,418	-
Other	3,116,724	2,451,570	665,154	-
Money Market Funds	3,926,399	3,926,399	-	-
Total Investments in Securities:	$ 135,976,992	$ 109,468,058	$ 26,508,934	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $132,543,061. Net unrealized appreciation aggregated $3,433,931, of which $16,751,789 related to appreciated investment securities and $13,317,858 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® Emerging Markets Fund

January 31, 2010

1.813065.105

EMF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.4%
	Shares		Value
Argentina - 0.2%
Banco Macro SA sponsored ADR (c)	247,300		$ 7,050,523
Australia - 0.1%
Coal of Africa Ltd. (a)	1,577,000		2,980,392
Bailiwick of Jersey - 0.4%
Heritage Oil PLC (a)	594,107		4,692,689
Randgold Resources Ltd. sponsored ADR	199,700		13,765,321
TOTAL BAILIWICK OF JERSEY			18,458,010
Bermuda - 0.5%
Aquarius Platinum Ltd.:
(Australia) (a)(c)	3,233,117		19,097,343
(United Kingdom) (a)	731,222		4,299,700
TOTAL BERMUDA			23,397,043
Brazil - 13.4%
Anhanguera Educacional Participacoes SA unit (a)	283,349		3,908,262
BM&F BOVESPA SA	3,119,300		20,966,329
Centrais Eletricas Brasileiras SA (Electrobras):
(PN-B) sponsored ADR (c)	1,047,600		19,097,748
sponsored ADR	796,600		16,951,648
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	8,650		144,196
Companhia Siderurgica Nacional SA (CSN) sponsored ADR (c)	1,158,748		33,742,742
Fibria Celulose SA sponsored ADR (a)(c)	804,865		14,712,932
Gerdau SA sponsored ADR (c)	2,053,400		27,618,230
Itau Unibanco Banco Multiplo SA ADR	2,763,060		52,940,230
Localiza Rent A Car SA	1,246,000		13,054,907
Net Servicos de Comunicacao SA sponsored ADR	1,489,966		17,626,298
OGX Petroleo e Gas Participacoes SA	3,107,100		27,774,342
PDG Realty S.A. Empreendimentos e Participacoes	1,727,400		13,626,758
Petroleo Brasileiro SA - Petrobras:
(PN) (non-vtg.)	2,418,700		43,626,419
(PN) sponsored ADR (non-vtg.)	2,160,700		77,958,056
sponsored ADR	385,300		15,631,621
Tele Norte Leste Participacoes SA sponsored ADR (non-vtg.)	1,563,293		27,857,881
Vale SA (PN-A) sponsored ADR	5,626,800		127,053,144
Vivo Participacoes SA sponsored ADR (c)	796,000		22,280,040
TOTAL BRAZIL			576,571,783
Canada - 1.4%
Eldorado Gold Corp. (a)	1,295,311		15,384,317
First Quantum Minerals Ltd.	250,300		18,152,778
Niko Resources Ltd.	48,200		4,450,826
Sherritt International Corp.	900,900		5,173,035
	Shares		Value
Sino-Forest Corp. (a)	595,900		$ 10,348,698
Uranium One, Inc. (a)(c)	2,288,200		7,083,084
TOTAL CANADA			60,592,738
Cayman Islands - 2.2%
BaWang International (Group) Holding Ltd.	5,970,000		3,452,534
China Shanshui Cement Group Ltd.	8,975,000		5,236,606
Daphne International Holdings Ltd.	11,622,000		8,831,819
Eurasia Drilling Co. Ltd. GDR (Reg. S)	795,900		10,906,536
Geely Automobile Holdings Ltd. (c)	41,755,000		18,554,312
Hidili Industry International Development Ltd. (a)	11,787,000		12,464,180
Integra Group Holdings unit (a)	3,586,700		12,287,496
Mindray Medical International Ltd. sponsored ADR (c)	450,600		15,712,422
PCD Stores Group Ltd.	13,516,000		4,613,296
Trina Solar Ltd. ADR (a)	193,900		4,252,227
TOTAL CAYMAN ISLANDS			96,311,428
Chile - 0.4%
Banco Santander Chile sponsored ADR	168,700		10,430,721
Enersis SA sponsored ADR	292,000		6,704,320
TOTAL CHILE			17,135,041
China - 8.9%
Baidu.com, Inc. sponsored ADR (a)	36,000		14,821,560
China Construction Bank Corp. (H Shares)	81,122,000		62,482,314
China Mengniu Dairy Co. Ltd. (a)	5,306,000		16,401,960
China Merchants Bank Co. Ltd. (H Shares)	10,819,350		25,167,274
China Shenhua Energy Co. Ltd. (H Shares)	8,227,500		35,394,161
China Yurun Food Group Ltd.	5,091,000		14,294,760
Golden Eagle Retail Group Ltd. (H Shares)	9,199,000		16,611,387
Industrial & Commercial Bank of China Ltd. (H Shares)	89,498,000		65,706,064
Maanshan Iron & Steel Co. Ltd. (H Shares) (a)(c)	10,458,000		6,330,875
Minth Group Ltd.	5,732,000		7,257,332
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	4,502,000		35,255,456
Shanda Interactive Entertainment Ltd. sponsored ADR (a)	135,100		6,242,971
Sina Corp. (a)	108,500		3,923,360
Tencent Holdings Ltd.	2,080,200		38,903,527
Yantai Changyu Pioneer Wine Co. (B Shares)	1,602,950		13,956,738
ZTE Corp. (H Shares)	3,576,080		21,003,387
TOTAL CHINA			383,753,126
Cyprus - 0.1%
Bank of Cyprus Public Co. Ltd.	752,800		4,753,781
Common Stocks - continued
	Shares		Value
Czech Republic - 1.1%
Ceske Energeticke Zavody AS	543,800		$ 26,465,087
Komercni Banka AS	105,500		21,290,864
TOTAL CZECH REPUBLIC			47,755,951
Egypt - 0.5%
Commercial International Bank Ltd. sponsored GDR	1,924,987		20,453,179
Hong Kong - 4.8%
China Agri-Industries Holding Ltd.	10,185,000		13,984,132
China Mobile (Hong Kong) Ltd.	5,412,900		50,852,736
China Overseas Land & Investment Ltd.	9,882,000		17,717,456
CNOOC Ltd.	29,451,000		41,293,824
CNOOC Ltd. sponsored ADR (c)	51,400		7,187,262
CNPC (Hong Kong) Ltd.	18,746,000		23,396,433
Hong Kong Exchanges and Clearing Ltd.	743,300		12,666,051
Shanghai Industrial Holdings Ltd.	4,471,000		20,875,167
Sino-Ocean Land Holdings Ltd.	14,572,500		11,918,595
Texwinca Holdings Ltd.	7,198,000		6,359,943
TOTAL HONG KONG			206,251,599
Hungary - 0.7%
OTP Bank Ltd. (a)	1,011,700		30,238,281
India - 7.7%
Bank of Baroda	756,430		9,437,951
Bharat Heavy Electricals Ltd.	470,875		24,553,898
DLF Ltd.	808,861		5,850,981
Housing Development and Infrastructure Ltd. (a)	1,418,482		10,166,941
Housing Development Finance Corp. Ltd.	657,666		33,989,748
ICICI Bank Ltd. sponsored ADR	241,800		8,530,704
Indiabulls Real Estate Ltd. (a)	1,835,219		6,968,859
Infosys Technologies Ltd. sponsored ADR	911,400		47,310,774
ITC Ltd.	1,500		8,135
Jain Irrigation Systems Ltd.	745,510		11,705,113
JSW Steel Ltd.	1,069,795		22,857,084
Mahindra & Mahindra Ltd.	979,638		21,611,505
Power Finance Corp. Ltd.	127,153		667,536
Reliance Industries Ltd.	2,437,756		55,292,799
Rural Electrification Corp. Ltd. (a)	2,385,788		12,395,753
Tata Consultancy Services Ltd.	1,709,584		27,286,629
Tata Power Co. Ltd.	388,070		10,978,700
Tata Steel Ltd.	1,352,931		16,692,749
Ultratech Cement Ltd.	231,113		4,659,839
TOTAL INDIA			330,965,698
Indonesia - 5.1%
PT Delta Dunia Petroindo Tbk (a)	46,832,000		8,965,709
PT Gudang Garam Tbk	3,420,500		8,779,904
PT Astra International Tbk	7,557,500		29,058,016
PT Bank Mandiri Persero Tbk	41,567,500		20,783,775
PT Bank Rakyat Indonesia Tbk	30,558,000		25,002,030
PT Bumi Resources Tbk	44,714,000		11,836,073
	Shares		Value
PT Indo Tambangraya Megah Tbk	1,276,000		$ 4,285,182
PT Indocement Tunggal Prakarsa Tbk	14,098,000		20,355,426
PT Indofood Sukses Makmur Tbk	48,296,500		18,595,466
PT Indosat Tbk	9,549,500		5,719,494
PT Indosat Tbk sponsored ADR (c)	254,000		7,459,980
PT Perusahaan Gas Negara Tbk Series B	63,763,600		25,744,158
PT Telkomunikasi Indonesia Tbk Series B	33,740,000		33,740,040
TOTAL INDONESIA			220,325,253
Ireland - 0.2%
Dragon Oil PLC (a)	1,152,360		7,434,530
Israel - 2.6%
Check Point Software Technologies Ltd. (a)	624,500		19,971,510
Israel Chemicals Ltd.	1,049,584		13,894,883
Partner Communications Co. Ltd. ADR (c)	760,191		15,766,361
Teva Pharmaceutical Industries Ltd. sponsored ADR	1,056,400		59,919,008
TOTAL ISRAEL			109,551,762
Kazakhstan - 0.8%
JSC Halyk Bank of Kazakhstan unit (a)	1,967,696		18,366,868
KazMunaiGas Exploration & Production JSC (Reg. S) GDR	573,211		14,457,642
TOTAL KAZAKHSTAN			32,824,510
Korea (South) - 10.9%
CJ CheilJedang Corp.	57,323		10,337,824
CJ Corp.	188,290		10,918,185
Hynix Semiconductor, Inc. (a)	1,525,840		29,953,276
Hyundai Engineering & Construction Co. Ltd.	375,101		20,844,334
Hyundai Mobis	213,373		27,249,285
Hyundai Motor Co.	442,821		43,177,807
Industrial Bank of Korea (a)	1,707,090		19,370,289
KB Financial Group, Inc. (a)	913,920		39,903,650
Korea Exchange Bank	2,135,840		24,327,449
Korean Air Lines Co. Ltd. (a)	301,288		14,688,729
KT Corp.	401,510		17,253,596
LG Innotek Co. Ltd.	136,151		10,514,722
Lumens Co. Ltd. (a)	1,148,462		8,552,269
Samsung Electronics Co. Ltd.	206,302		139,564,006
Samsung SDI Co. Ltd.	108,789		12,766,675
Shinhan Financial Group Co. Ltd. (a)	1,135,410		39,742,856
TOTAL KOREA (SOUTH)			469,164,952
Luxembourg - 1.2%
ArcelorMittal SA (NY Shares) Class A (c)	414,765		16,043,110
Evraz Group SA GDR (a)	794,300		26,186,165
Ternium SA sponsored ADR (a)(c)	264,600		7,874,496
TOTAL LUXEMBOURG			50,103,771
Mexico - 3.0%
America Movil SAB de CV Series L sponsored ADR	1,493,900		65,208,735
Common Stocks - continued
	Shares		Value
Mexico - continued
Banco Compartamos SA de CV	1,765,400		$ 8,609,699
Corporacion Geo SA de CV Series B (a)	4,957,000		13,160,093
Grupo Financiero Banorte SAB de CV Series O	5,902,900		19,413,114
Wal-Mart de Mexico SA de CV Series V	5,061,700		22,444,495
TOTAL MEXICO			128,836,136
Nigeria - 0.2%
Guaranty Trust Bank PLC GDR (Reg. S)	1,231,281		9,292,231
Norway - 0.1%
Det Norske Oljeselskap ASA (DNO) (A Shares) (a)(c)	4,450,000		4,274,321
Panama - 0.3%
Copa Holdings SA Class A	205,380		10,675,652
Peru - 0.4%
Compania de Minas Buenaventura SA sponsored ADR	548,200		17,257,336
Philippines - 0.6%
Megaworld Corp.	208,930,000		5,391,742
Philippine Long Distance Telephone Co. sponsored ADR	354,600		19,846,962
TOTAL PHILIPPINES			25,238,704
Poland - 1.1%
Bank Polska Kasa Opieki SA (a)	469,100		27,465,153
Bank Zachodni WBK SA (a)	321,220		19,631,853
TOTAL POLAND			47,097,006
Russia - 9.4%
Cherkizovo Group OJSC GDR (a)	362,900		4,660,540
Magnit OJSC GDR (Reg. S)	1,212,000		18,233,267
Mechel Steel Group OAO sponsored ADR	1,045,200		20,684,508
Novorossiysk Commercial Sea Port JSC (a)	13,641,400		2,046,210
Novorossiysk Commercial Sea Port JSC GDR (Reg. S)	81,000		928,976
OAO Gazprom sponsored ADR	3,120,159		75,507,848
OAO NOVATEK GDR	465,480		32,972,855
OAO Tatneft sponsored ADR	851,800		26,207,432
OJSC MMC Norilsk Nickel sponsored ADR (a)	2,380,978		36,428,963
OJSC Oil Company Rosneft GDR (Reg. S)	4,990,900		38,385,113
Polymetal JSC GDR (Reg. S) (a)	1,357,800		12,606,562
RusHydro JSC sponsored ADR (a)	3,415,233		14,786,183
Sberbank (Savings Bank of the Russian Federation)	13,162,700		38,369,271
Sberbank (Savings Bank of the Russian Federation) GDR	76,233		22,939,557
Sistema JSFC sponsored GDR (a)	962,721		23,899,549
	Shares		Value
Vimpel Communications sponsored ADR	1,642,300		$ 29,791,322
Wimm-Bill-Dann Foods OJSC sponsored ADR (a)	152,080		3,160,222
TOTAL RUSSIA			401,608,378
Singapore - 0.3%
Straits Asia Resources Ltd.	7,993,000		12,277,248
South Africa - 5.9%
African Bank Investments Ltd.	4,081,699		15,898,203
AngloGold Ashanti Ltd.	380,000		13,906,147
Aspen Pharmacare Holdings Ltd. (a)	2,217,177		19,604,561
Aveng Ltd.	3,555,552		16,558,929
Clicks Group Ltd.	5,367,000		18,658,397
Illovo Sugar Ltd.	2,187,465		9,627,876
Mr. Price Group Ltd.	2,985,145		13,781,026
MTN Group Ltd.	3,126,300		44,889,347
Mvelaphanda Resources Ltd. (a)	3,125,278		20,807,580
Raubex Group Ltd.	3,037,636		9,006,189
Shoprite Holdings Ltd.	1,802,935		16,521,267
Standard Bank Group Ltd.	2,879,000		41,111,845
Steinhoff International Holdings Ltd.	4,909,661		12,546,926
TOTAL SOUTH AFRICA			252,918,293
Taiwan - 8.0%
Advanced Semiconductor Engineering, Inc. sponsored ADR (c)	2,621,100		10,222,290
Asia Cement Corp.	15,817,710		14,993,794
AU Optronics Corp. sponsored ADR (c)	2,233,340		24,432,740
Cathay Financial Holding Co. Ltd. (a)	11,067,000		18,765,256
Compal Electronics, Inc.	5,227,000		7,293,108
Epistar Corp.	2,319,000		7,363,632
First Financial Holding Co. Ltd.	29,154,077		16,325,918
Formosa Epitaxy, Inc.	7,451,000		9,860,075
Fubon Financial Holding Co. Ltd. (a)	17,317,000		20,261,405
Hon Hai Precision Industry Co. Ltd. (Foxconn)	15,360,447		64,632,570
Macronix International Co. Ltd.	25,103,113		14,018,163
MediaTek, Inc.	2,345,868		38,162,095
Siliconware Precision Industries Co. Ltd.	15,565,633		20,647,046
Taiwan Mobile Co. Ltd.	12,149,000		23,526,454
Taiwan Semiconductor Manufacturing Co. Ltd.	15,090,447		29,033,708
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	2,301,114		23,379,318
TOTAL TAIWAN			342,917,572
Thailand - 1.0%
Advanced Info Service PCL (For. Reg.)	4,927,900		12,323,462
Banpu PCL unit	594,700		9,460,729
Siam Commercial Bank PCL (For. Reg.)	8,329,300		20,013,910
Total Access Communication PCL (For. Reg.)	105,200		102,221
TOTAL THAILAND			41,900,322
Common Stocks - continued
	Shares		Value
Turkey - 2.8%
Albaraka Turk Katilim Bankasi AS	1,929,000		$ 3,144,233
Hurriyet Gazetecilik ve Matbaacilik AS (a)	7,158,519		9,038,111
Koc Holding AS	3,188,000		10,861,285
Tofas Turk Otomobil Fabrikasi AS	5,454,957		20,953,273
Turk Hava Yollari AO	5,696,000		20,927,887
Turkiye Garanti Bankasi AS	6,878,895		29,179,988
Turkiye Is Bankasi AS Series C	5,696,939		25,307,889
TOTAL TURKEY			119,412,666
United Arab Emirates - 0.2%
DP World Ltd.	17,263,218		8,614,346
United Kingdom - 1.0%
Hikma Pharmaceuticals PLC	1,626,618		14,201,612
Tullow Oil PLC	423,800		7,762,473
Xstrata PLC (a)	1,395,870		22,649,178
TOTAL UNITED KINGDOM			44,613,263
United States of America - 0.9%
Central European Distribution Corp. (a)	557,230		17,859,222
Freeport-McMoRan Copper & Gold, Inc.	314,700		20,987,343
TOTAL UNITED STATES OF AMERICA			38,846,565
TOTAL COMMON STOCKS (Cost $3,400,047,666)		4,221,853,390
Money Market Funds - 5.6%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (d)	77,105,781		$ 77,105,781
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	161,804,534		161,804,534
TOTAL MONEY MARKET FUNDS (Cost $238,910,315)		238,910,315

TOTAL INVESTMENT PORTFOLIO - 104.0% (Cost $3,638,957,981)		4,460,763,705
NET OTHER ASSETS - (4.0)%		(171,963,870)
NET ASSETS - 100%	$ 4,288,799,835

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 41,591
Fidelity Securities Lending Cash Central Fund	231,087
Total	$ 272,678

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Brazil	$ 576,571,783	$ 576,571,783	$ -	$ -
Korea (South)	469,164,952	429,422,096	39,742,856	-
Russia	401,608,378	205,988,344	195,620,034	-
China	383,753,126	383,753,126	-	-
Taiwan	342,917,572	342,917,572	-	-
India	330,965,698	330,965,698	-	-
South Africa	252,918,293	252,918,293	-	-
Indonesia	220,325,253	220,325,253	-	-
Hong Kong	206,251,599	114,105,039	92,146,560	-
Other	1,037,376,736	852,377,943	184,998,793	-
Money Market Funds	238,910,315	238,910,315	-	-
Total Investments in Securities:	$ 4,460,763,705	$ 3,948,255,462	$ 512,508,243	$ -

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

Investments in Securities:
Beginning Balance	$ 59,240
Total Realized Gain (Loss)	(3,687,175)
Total Unrealized Gain (Loss)	3,692,447
Cost of Purchases	-
Proceeds of Sales	(64,512)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $3,698,937,280. Net unrealized appreciation aggregated $761,826,425, of which $930,087,523 related to appreciated investment securities and $168,261,098 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Europe Fund -
Europe Fund
Class F

January 31, 2010

1.813067.105

EUR-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.1%
	Shares		Value
Bailiwick of Jersey - 1.3%
Experian PLC	1,835,300		$ 17,449,848
Heritage Oil PLC (a)	651,800		5,148,390
Shire PLC	391,098		7,745,505
TOTAL BAILIWICK OF JERSEY			30,343,743
Belgium - 2.7%
Anheuser-Busch InBev SA NV	563,341		28,110,840
Fortis (a)	2,797,200		9,846,618
Gimv NV	84,000		4,301,444
Umicore SA	648,143		19,975,308
TOTAL BELGIUM			62,234,210
Bermuda - 1.0%
Seadrill Ltd.	528,700		11,996,625
Signet Jewelers Ltd. (United Kingdom) (a)	453,369		12,126,608
TOTAL BERMUDA			24,123,233
Brazil - 0.5%
Banco Santander (Brasil) SA ADR	891,600		10,734,864
Canada - 1.1%
Compton Petroleum Corp. (a)	2,022,700		1,797,031
Fairborne Energy Trust (a)	545,100		2,497,886
Iteration Energy Ltd. (a)	2,105,000		2,381,979
PetroBakken Energy Ltd. Class A	305,194		8,462,548
Petrobank Energy & Resources Ltd. (a)	210,000		10,375,292
TOTAL CANADA			25,514,736
Cayman Islands - 0.3%
Hengdeli Holdings Ltd.	20,216,000		6,717,879
China - 0.2%
Baidu.com, Inc. sponsored ADR (a)	8,500		3,499,535
Denmark - 2.6%
Carlsberg AS Series B	157,500		11,746,011
Danske Bank AS (a)	352,673		8,376,553
FLSmidth & Co. A/S	187,800		11,966,310
Novo Nordisk AS Series B	392,106		26,528,072
William Demant Holding AS (a)	18,100		1,412,524
TOTAL DENMARK			60,029,470
Finland - 1.4%
Fortum Corp.	667,700		16,943,369
Metso Corp.	209,000		7,014,076
Nokian Tyres PLC	381,661		9,227,123
TOTAL FINLAND			33,184,568
France - 12.6%
Alstom SA	137,119		9,155,107
Atos Origin SA (a)	266,677		12,402,023
AXA SA	880,400		18,127,514
Cap Gemini SA	187,900		8,343,173
CFAO SA	74,000		2,954,494
Essilor International SA	212,841		12,380,924
Groupe Eurotunnel SA	454,100		4,377,704
	Shares		Value
Iliad Group SA	122,900		$ 13,621,084
L'Oreal SA	203,000		21,403,439
PPR SA	145,600		17,754,771
Remy Cointreau SA	266,000		13,331,798
Sanofi-Aventis	765,414		56,596,062
Schneider Electric SA	254,835		26,289,012
Societe Generale Series A	328,452		19,002,633
Total SA:
Series B	604,865		34,955,912
sponsored ADR	270,300		15,566,577
Vallourec SA	49,815		8,568,056
TOTAL FRANCE			294,830,283
Germany - 9.1%
Aixtron AG	114,000		3,429,334
BASF AG	482,198		27,367,778
Bayerische Motoren Werke AG (BMW)	287,588		12,258,157
Deutsche Bank AG	293,600		17,900,792
Deutsche Boerse AG	241,500		15,809,609
Deutsche Lufthansa AG (Reg.)	298,600		4,778,991
Deutsche Postbank AG (a)	259,600		7,903,967
E.ON AG	1,117,334		41,010,647
HeidelbergCement AG	255,195		15,378,082
Infineon Technologies AG (a)	1,120,000		6,104,000
Linde AG	146,154		15,976,611
Rheinmetall AG	202,000		12,849,724
SAP AG	462,937		20,980,305
Siemens AG (Reg.)	132,415		11,799,501
TOTAL GERMANY			213,547,498
Greece - 1.1%
Coca-Cola Hellenic Bottling Co. SA	53,100		1,216,972
Fourlis Holdings SA	504,600		6,142,144
National Bank of Greece SA (a)	824,400		18,019,982
TOTAL GREECE			25,379,098
Ireland - 0.6%
CRH PLC	603,145		14,483,499
Italy - 2.1%
Fiat SpA (a)	563,700		7,064,007
Intesa Sanpaolo SpA	4,803,782		18,285,599
Mediaset SpA	2,227,500		16,907,927
Prysmian SpA	395,900		7,184,977
TOTAL ITALY			49,442,510
Luxembourg - 0.7%
ArcelorMittal SA (Netherlands)	434,756		16,830,035
Netherlands - 4.2%
Akzo Nobel NV	244,355		14,545,138
ASML Holding NV (Netherlands)	448,900		14,097,728
Koninklijke KPN NV	984,633		16,303,474
Koninklijke Philips Electronics NV	799,900		24,154,627
Common Stocks - continued
	Shares		Value
Netherlands - continued
QIAGEN NV (a)	277,000		$ 6,027,520
Unilever NV (Certificaten Van Aandelen) (Bearer) unit	775,100		23,732,758
TOTAL NETHERLANDS			98,861,245
Netherlands Antilles - 0.4%
Schlumberger Ltd.	147,500		9,360,350
Norway - 2.1%
DnB NOR ASA (a)	1,304,800		14,734,210
Pronova BioPharma ASA (a)	948,700		2,791,399
Sevan Marine ASA (a)	1,096,500		1,578,267
Storebrand ASA (A Shares) (a)	2,265,500		15,838,151
Telenor ASA (a)	1,067,000		13,867,233
TOTAL NORWAY			48,809,260
Papua New Guinea - 0.3%
Lihir Gold Ltd.	3,261,336		7,988,227
South Africa - 0.3%
Impala Platinum Holdings Ltd.	290,400		7,524,204
Spain - 4.5%
Banco Santander SA	2,400,130		34,034,976
Cintra Concesiones de Infrastructuras de Transporte SA	778,400		8,119,225
Inditex SA	268,260		16,885,411
Sol Melia SA	770,600		6,322,912
Telefonica SA	1,608,273		38,525,658
TOTAL SPAIN			103,888,182
Sweden - 2.2%
Modern Times Group MTG AB (B Shares)	250,000		11,464,144
Sandvik AB	903,300		9,815,020
Skandinaviska Enskilda Banken AB (A Shares) (a)	1,594,200		9,441,145
SKF AB (B Shares)	761,900		11,771,243
Swedbank AB (A Shares)	1,046,017		9,000,085
TOTAL SWEDEN			51,491,637
Switzerland - 11.0%
Actelion Ltd. (Reg.) (a)	209,764		11,097,469
Credit Suisse Group (Reg.)	318,212		13,764,293
Nestle SA (Reg.)	934,759		44,307,102
Nobel Biocare Holding AG (Switzerland)	257,249		7,566,350
Novartis AG (Reg.)	879,875		47,084,206
Roche Holding AG (participation certificate)	292,364		49,047,884
Schindler Holding AG (participation certificate)	136,724		10,106,746
Sonova Holding AG Class B	133,860		16,567,021
Swiss Reinsurance Co. (Reg.)	294,654		12,737,252
The Swatch Group AG (Bearer)	34,050		8,900,603
	Shares		Value
Transocean Ltd. (a)	73,500		$ 6,228,390
UBS AG (NY Shares) (a)	2,218,700		28,865,287
TOTAL SWITZERLAND			256,272,603
Turkey - 0.3%
Turkiye Is Bankasi AS Series C	1,693,000		7,520,926
United Kingdom - 29.3%
Anglo American PLC (United Kingdom) (a)	959,800		35,214,968
Barclays PLC	6,502,277		27,789,930
Barratt Developments PLC (a)	1,637,200		3,107,558
Bellway PLC	297,600		3,506,113
BG Group PLC	1,876,531		34,496,703
Bovis Homes Group PLC (a)	573,645		3,625,797
BP PLC	5,407,400		50,449,700
BT Group PLC	6,484,500		14,151,129
Burberry Group PLC	1,089,000		10,630,014
Carphone Warehouse Group PLC	3,029,900		9,193,966
Centrica PLC	5,125,490		22,003,220
Ensco International Ltd. ADR	121,100		4,726,533
HSBC Holdings PLC (United Kingdom) (Reg.)	7,167,457		76,729,278
Imperial Tobacco Group PLC	1,129,969		36,437,888
InterContinental Hotel Group PLC	630,749		9,020,279
Invensys PLC	3,042,900		14,879,335
ITV PLC	17,644,000		15,821,664
Misys PLC (a)	3,013,800		10,292,822
Mothercare PLC	1,389,400		14,210,392
National Grid PLC	2,379,100		23,894,319
Reckitt Benckiser Group PLC	566,039		29,342,403
Rio Tinto PLC (Reg.)	824,551		40,208,080
Rolls-Royce Group PLC	1,608,500		12,255,610
Royal Dutch Shell PLC Class A (Netherlands)	2,449,066		68,002,899
Salamander Energy PLC (a)	960,270		4,052,582
Schroders PLC	237,600		4,695,383
Serco Group PLC	1,168,884		9,291,009
SSL International PLC	738,843		9,155,244
Standard Chartered PLC (United Kingdom)	1,125,200		25,916,731
Taylor Wimpey PLC (a)	12,246,500		7,522,359
The Game Group PLC	2,581,400		3,788,419
Tomkins PLC	3,168,000		9,479,269
Vedanta Resources PLC	145,800		5,592,272
Vodafone Group PLC	6,892,386		14,724,495
Whitbread PLC	287,538		6,429,710
Wolseley PLC (a)	574,621		12,641,779
TOTAL UNITED KINGDOM			683,279,852
United States of America - 4.2%
Agilent Technologies, Inc.	422,800		11,851,084
Allergan, Inc.	89,200		5,129,000
CME Group, Inc.	35,100		10,067,382
Express Scripts, Inc. (a)	122,600		10,281,236
Common Stocks - continued
	Shares		Value
United States of America - continued
Merck & Co., Inc.	322,400		$ 12,309,232
Morgan Stanley	488,000		13,068,640
Pfizer, Inc.	642,200		11,983,452
Pride International, Inc. (a)	166,400		4,925,440
SanDisk Corp. (a)	164,800		4,189,216
Union Pacific Corp.	129,800		7,852,900
Virgin Media, Inc.	481,500		6,832,485
TOTAL UNITED STATES OF AMERICA			98,490,067
TOTAL COMMON STOCKS (Cost $2,058,582,010)		2,244,381,714
Nonconvertible Preferred Stocks - 1.2%
Germany - 0.8%
ProSiebenSat.1 Media AG	1,398,390		18,821,012
Italy - 0.4%
Fondiaria-Sai SpA (Risparmio Shares)	708,200		7,780,385
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $24,250,219)		26,601,397
Money Market Funds - 1.1%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (b) (Cost $26,566,416)	26,566,416		$ 26,566,416

TOTAL INVESTMENT PORTFOLIO - 98.4% (Cost $2,109,398,645) 2,297,549,527

NET OTHER ASSETS - 1.6%		36,962,743
NET ASSETS - 100%	$ 2,334,512,270

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 17,821
Fidelity Securities Lending Cash Central Fund	183,528
Total	$ 201,349

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 683,279,852	$ 4,726,533	$ 678,553,319	$ -
France	294,830,283	15,566,577	279,263,706	-
Switzerland	256,272,603	35,093,677	221,178,926	-
Germany	232,368,510	-	232,368,510	-
Spain	103,888,182	-	103,888,182	-
Netherlands	98,861,245	6,027,520	92,833,725	-
United States of America	98,490,067	98,490,067	-	-
Belgium	62,234,210	-	62,234,210	-
Denmark	60,029,470	-	60,029,470	-
Other	380,728,689	78,860,721	301,867,968	-
Money Market Funds	26,566,416	26,566,416	-	-
Total Investments in Securities:	$ 2,297,549,527	$ 265,331,511	$ 2,032,218,016	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $2,127,069,352. Net unrealized appreciation aggregated $170,480,175, of which $322,177,535 related to appreciated investment securities and $151,697,360 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Europe Capital Appreciation Fund

January 31, 2010

1.813014.105

ECA-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.2%
	Shares		Value
Bailiwick of Jersey - 1.4%
Experian PLC	410,600		$ 3,903,943
Heritage Oil PLC (a)	138,000		1,090,024
Shire PLC	88,982		1,762,245
TOTAL BAILIWICK OF JERSEY			6,756,212
Belgium - 2.7%
Anheuser-Busch InBev SA NV	113,492		5,663,275
Anheuser-Busch InBev SA NV (strip VVPR) (a)	103,680		714
Fortis (a)	630,300		2,218,763
Gimv NV	18,000		921,738
Umicore SA	137,095		4,225,171
TOTAL BELGIUM			13,029,661
Bermuda - 1.1%
Seadrill Ltd.	118,800		2,695,667
Signet Jewelers Ltd. (United Kingdom) (a)	95,996		2,567,679
TOTAL BERMUDA			5,263,346
Brazil - 0.4%
Banco Santander (Brasil) SA ADR	179,800		2,164,792
Canada - 1.2%
Compton Petroleum Corp. (a)	456,100		405,214
Fairborne Energy Trust (a)	122,900		563,182
Iteration Energy Ltd. (a)	474,700		537,162
PetroBakken Energy Ltd. Class A	69,855		1,936,969
Petrobank Energy & Resources Ltd. (a)	50,100		2,475,248
TOTAL CANADA			5,917,775
Cayman Islands - 0.3%
Hengdeli Holdings Ltd.	4,304,000		1,430,241
China - 0.2%
Baidu.com, Inc. sponsored ADR (a)	1,900		782,249
Denmark - 2.6%
Carlsberg AS Series B	35,200		2,625,140
Danske Bank AS (a)	81,187		1,928,322
FLSmidth & Co. A/S	41,200		2,625,197
Novo Nordisk AS Series B	78,085		5,282,869
William Demant Holding AS (a)	4,000		312,160
TOTAL DENMARK			12,773,688
Finland - 1.5%
Fortum Corp.	142,700		3,621,115
Metso Corp.	44,200		1,483,360
Nokian Tyres PLC (c)	82,938		2,005,128
TOTAL FINLAND			7,109,603
France - 12.7%
Alstom SA	29,121		1,944,339
Atos Origin SA (a)	50,001		2,325,336
AXA SA	190,600		3,924,471
Cap Gemini SA	41,900		1,860,452
CFAO SA	16,200		646,795
	Shares		Value
Essilor International SA	44,415		$ 2,583,613
Groupe Eurotunnel SA	101,300		976,572
Iliad Group SA	25,455		2,821,194
L'Oreal SA	42,500		4,481,016
PPR SA	28,700		3,499,738
Remy Cointreau SA	59,200		2,967,077
Sanofi-Aventis	156,222		11,551,330
Schneider Electric SA	56,439		5,822,299
Societe Generale Series A	69,568		4,024,866
Total SA sponsored ADR	184,700		10,636,873
Vallourec SA	11,023		1,895,929
TOTAL FRANCE			61,961,900
Germany - 9.4%
Aixtron AG	23,900		718,957
BASF AG	102,321		5,807,362
Bayerische Motoren Werke AG (BMW)	59,930		2,554,458
Deutsche Bank AG	62,600		3,816,722
Deutsche Boerse AG	51,500		3,371,407
Deutsche Lufthansa AG (Reg.)	62,800		1,005,093
Deutsche Postbank AG (a)	58,800		1,790,267
E.ON AG	238,779		8,764,149
HeidelbergCement AG	54,599		3,290,142
Infineon Technologies AG (a)	235,500		1,283,475
Linde AG	31,438		3,436,599
Rheinmetall AG	42,800		2,722,615
SAP AG	99,520		4,510,246
SAP AG sponsored ADR	5,300		240,196
Siemens AG (Reg.)	27,855		2,482,159
TOTAL GERMANY			45,793,847
Greece - 1.1%
Coca-Cola Hellenic Bottling Co. SA	11,200		256,687
Fourlis Holdings SA	108,300		1,318,260
National Bank of Greece SA (a)	173,600		3,794,601
TOTAL GREECE			5,369,548
Ireland - 0.6%
CRH PLC	131,646		3,161,254
Italy - 2.1%
Fiat SpA (a)	118,500		1,484,983
Intesa Sanpaolo SpA	1,007,099		3,833,523
Mediaset SpA	466,200		3,538,709
Prysmian SpA	83,800		1,520,841
TOTAL ITALY			10,378,056
Luxembourg - 0.7%
ArcelorMittal SA (Netherlands)	92,573		3,583,635
Netherlands - 4.4%
Akzo Nobel NV	57,000		3,392,903
ASML Holding NV (Netherlands)	103,300		3,244,142
Koninklijke KPN NV	207,519		3,436,083
Koninklijke Philips Electronics NV	168,300		5,082,165
Common Stocks - continued
	Shares		Value
Netherlands - continued
QIAGEN NV (a)	58,600		$ 1,275,136
Unilever NV (Certificaten Van Aandelen) (Bearer) unit	171,000		5,235,843
TOTAL NETHERLANDS			21,666,272
Netherlands Antilles - 0.3%
Schlumberger Ltd.	25,800		1,637,268
Norway - 2.0%
DnB NOR ASA (a)	292,800		3,306,389
Pronova BioPharma ASA (a)	182,824		537,931
Sevan Marine ASA (a)	211,000		303,707
Storebrand ASA (A Shares) (a)	480,500		3,359,184
Telenor ASA (a)	173,800		2,258,786
TOTAL NORWAY			9,765,997
Papua New Guinea - 0.3%
Lihir Gold Ltd.	668,034		1,636,264
South Africa - 0.3%
Impala Platinum Holdings Ltd.	61,100		1,583,088
Spain - 4.4%
Banco Santander SA	504,386		7,152,432
Cintra Concesiones de Infrastructuras de Transporte SA	144,000		1,502,015
Inditex SA	57,316		3,607,710
Sol Melia SA	139,500		1,144,623
Telefonica SA sponsored ADR	114,300		8,183,880
TOTAL SPAIN			21,590,660
Sweden - 2.3%
Modern Times Group MTG AB (B Shares)	56,200		2,577,140
Sandvik AB	204,200		2,218,783
Skandinaviska Enskilda Banken AB (A Shares) (a)	351,600		2,082,240
SKF AB (B Shares)	163,900		2,532,231
Swedbank AB (A Shares)	232,758		2,002,684
TOTAL SWEDEN			11,413,078
Switzerland - 11.2%
Actelion Ltd. (Reg.) (a)	46,914		2,481,964
Credit Suisse Group (Reg.)	72,276		3,126,306
Nestle SA (Reg.)	199,573		9,459,659
Nobel Biocare Holding AG (Switzerland)	55,721		1,638,897
Novartis AG (Reg.)	185,638		9,933,931
Roche Holding AG (participation certificate)	61,576		10,330,179
Schindler Holding AG (participation certificate)	32,198		2,380,102
Sonova Holding AG Class B	27,616		3,417,861
Swiss Reinsurance Co. (Reg.)	61,320		2,650,730
The Swatch Group AG (Bearer)	7,480		1,955,257
	Shares		Value
Transocean Ltd. (a)	16,700		$ 1,415,158
UBS AG (For. Reg.) (a)	472,398		6,160,721
TOTAL SWITZERLAND			54,950,765
Turkey - 0.2%
Turkiye Is Bankasi AS Series C	250,000		1,110,592
United Kingdom - 29.5%
Anglo American PLC (United Kingdom) (a)	204,200		7,492,078
Barclays PLC	1,376,185		5,881,645
Barratt Developments PLC (a)	358,700		680,846
Bellway PLC	62,500		736,331
BG Group PLC	394,481		7,251,835
Bovis Homes Group PLC (a)	134,700		851,389
BP PLC	574,200		5,357,144
BP PLC sponsored ADR	84,400		4,736,528
BT Group PLC	1,348,000		2,941,741
Burberry Group PLC	240,300		2,345,631
Carphone Warehouse Group PLC	644,800		1,956,589
Centrica PLC	1,067,688		4,583,479
Ensco International Ltd. ADR	27,400		1,069,422
HSBC Holdings PLC sponsored ADR (c)	301,309		16,123,040
Imperial Tobacco Group PLC	238,166		7,680,092
InterContinental Hotel Group PLC	142,455		2,037,235
Invensys PLC	646,200		3,159,823
ITV PLC	4,006,800		3,592,963
Misys PLC (a)	675,700		2,307,671
Mothercare PLC	308,600		3,156,274
National Grid PLC	508,400		5,106,079
Reckitt Benckiser Group PLC	114,498		5,935,362
Rio Tinto PLC (Reg.)	177,945		8,677,240
Rolls-Royce Group PLC	307,500		2,342,928
Royal Dutch Shell PLC Class A (United Kingdom)	524,166		14,487,324
Salamander Energy PLC (a)	203,700		859,665
Schroders PLC	49,900		986,110
Serco Group PLC	264,870		2,105,350
SSL International PLC	158,331		1,961,931
Standard Chartered PLC (United Kingdom)	241,215		5,555,905
Taylor Wimpey PLC (a)	2,784,988		1,710,667
The Game Group PLC	595,800		874,386
Tomkins PLC	710,800		2,126,851
Vedanta Resources PLC (c)	31,100		1,192,865
Vodafone Group PLC	1,115,135		2,382,310
Whitbread PLC	61,067		1,365,535
Wolseley PLC (a)	125,256		2,755,658
TOTAL UNITED KINGDOM			144,367,922
United States of America - 4.3%
Agilent Technologies, Inc.	89,100		2,497,473
Allergan, Inc.	18,700		1,075,250
CME Group, Inc.	8,100		2,323,242
Express Scripts, Inc. (a)	27,300		2,289,378
Common Stocks - continued
	Shares		Value
United States of America - continued
Merck & Co., Inc.	68,100		$ 2,600,058
Morgan Stanley	101,800		2,726,204
Pfizer, Inc.	135,100		2,520,966
Pride International, Inc. (a)	37,600		1,112,960
SanDisk Corp. (a)	34,600		879,532
Union Pacific Corp.	24,700		1,494,350
Virgin Media, Inc. (c)	101,100		1,434,609
TOTAL UNITED STATES OF AMERICA			20,954,022
TOTAL COMMON STOCKS (Cost $469,220,607)		476,151,735
Nonconvertible Preferred Stocks - 1.2%
Germany - 0.8%
ProSiebenSat.1 Media AG	298,600		4,018,875
Italy - 0.4%
Fondiaria-Sai SpA (Risparmio Shares)	158,000		1,735,810
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $5,304,700)		5,754,685
Money Market Funds - 3.7%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (d)	116,972		$ 116,972
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	18,066,000		18,066,000
TOTAL MONEY MARKET FUNDS (Cost $18,182,972)		18,182,972

TOTAL INVESTMENT PORTFOLIO - 102.1% (Cost $492,708,279) 500,089,392

NET OTHER ASSETS - (2.1)%	(10,458,378)
NET ASSETS - 100%	$ 489,631,014

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,815
Fidelity Securities Lending Cash Central Fund	35,318
Total	$ 37,133

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 144,367,922	$ 21,928,990	$ 122,438,932	$ -
France	61,961,900	10,636,873	51,325,027	-
Switzerland	54,950,765	1,415,158	53,535,607	-
Germany	49,812,722	240,196	49,572,526	-
Netherlands	21,666,272	1,275,136	20,391,136	-
Spain	21,590,660	8,183,880	13,406,780	-
United States of America	20,954,022	20,954,022	-	-
Belgium	13,029,661	-	13,029,661	-
Denmark	12,773,688	-	12,773,688	-
Other	80,798,808	16,262,269	64,536,539	-
Money Market Funds	18,182,972	18,182,972	-	-
Total Investments in Securities:	$ 500,089,392	$ 99,079,496	$ 401,009,896	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $498,287,168. Net unrealized appreciation aggregated $1,802,224, of which $47,538,773 related to appreciated investment securities and $45,736,549 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Global Commodity Stock

January 31, 2010

1.879386.100

GCS-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 100.1%
	Shares		Value
BUILDING PRODUCTS - 0.2%
Building Products - 0.2%
USG Corp. (a)	40,800		$ 490,008
CHEMICALS - 20.0%
Diversified Chemicals - 0.4%
Dow Chemical Co.	33,400		904,806
FMC Corp.	9,000		458,460
			1,363,266
Fertilizers & Agricultural Chemicals - 19.4%
Agrium, Inc.	40,000		2,249,696
CF Industries Holdings, Inc.	19,472		1,808,170
China BlueChemical Ltd. (H shares)	648,000		422,321
Coromandel International Ltd.	5,016		30,515
Fertilizantes Heringer SA (a)	78,200		458,829
Incitec Pivot Ltd.	499,200		1,487,577
Israel Chemicals Ltd.	223,200		2,954,826
K&S AG	62,407		3,507,194
Monsanto Co.	228,300		17,323,399
Nufarm Ltd.	50,978		458,887
Potash Corp. of Saskatchewan, Inc.	71,600		7,092,371
Sinofert Holdings Ltd.	2,182,000		1,270,312
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR	8,500		309,230
Syngenta AG (Switzerland)	38,742		9,913,920
Taiwan Fertilizer Co. Ltd.	284,000		928,453
Terra Industries, Inc.	55,000		1,738,000
The Mosaic Co.	110,500		5,912,855
United Phosphorous Ltd.	309,979		1,044,352
Uralkali JSC GDR (Reg. S) (a)	20,000		427,189
Yara International ASA	73,400		3,064,391
			62,402,487
Specialty Chemicals - 0.2%
Innophos Holdings, Inc.	7,200		140,832
Johnson Matthey PLC	22,050		512,607
			653,439
TOTAL CHEMICALS			64,419,192
COMMERCIAL SERVICES & SUPPLIES - 0.0%
Environmental & Facility Services - 0.0%
RINO International Corp. (a)	900		18,135
Common Stocks - continued
	Shares		Value
CONSTRUCTION & ENGINEERING - 0.6%
Construction & Engineering - 0.6%
Fluor Corp.	32,200		$ 1,459,948
Jacobs Engineering Group, Inc. (a)	12,600		476,154
			1,936,102
CONSTRUCTION MATERIALS - 0.6%
Construction Materials - 0.6%
Cemex SA de CV sponsored ADR	55,200		507,288
HeidelbergCement AG	16,812		1,013,093
Martin Marietta Materials, Inc.	2,900		229,622
Vulcan Materials Co.	6,500		287,235
			2,037,238
ELECTRICAL EQUIPMENT - 0.2%
Electrical Components & Equipment - 0.2%
First Solar, Inc. (a)	560		63,448
Renewable Energy Corp. AS (a)	50,013		290,020
SunPower Corp. Class B (a)	11,800		219,126
			572,594
ENERGY EQUIPMENT & SERVICES - 2.8%
Oil & Gas Drilling - 1.1%
Ensco International Ltd. ADR	25,800		1,006,974
Helmerich & Payne, Inc.	5,000		209,150
Nabors Industries Ltd. (a)	20,200		450,460
Northern Offshore Ltd. (a)	351,500		607,957
Pride International, Inc. (a)	16,300		482,480
Transocean Ltd. (a)	5,000		423,700
Vantage Drilling Co. (a)	281,600		397,056
			3,577,777
Oil & Gas Equipment & Services - 1.7%
Aker Solutions ASA	4,600		61,386
BJ Services Co.	47,800		988,026
Halliburton Co.	16,500		481,965
ION Geophysical Corp. (a)	9,300		44,175
National Oilwell Varco, Inc.	17,100		699,390
Petroleum Geo-Services ASA (a)	40,200		500,245
Saipem SpA	21,154		684,857
Smith International, Inc.	11,500		348,680
Technip SA	3,900		266,599
Tenaris SA sponsored ADR	3,100		136,400
Common Stocks - continued
	Shares		Value
ENERGY EQUIPMENT & SERVICES - CONTINUED
Oil & Gas Equipment & Services - continued
Weatherford International Ltd. (a)	61,800		$ 969,024
Wellstream Holdings PLC	31,400		248,436
			5,429,183
TOTAL ENERGY EQUIPMENT & SERVICES			9,006,960
FOOD PRODUCTS - 7.0%
Agricultural Products - 6.5%
Archer Daniels Midland Co.	233,000		6,983,010
Bunge Ltd.	112,400		6,607,996
China Agri-Industries Holding Ltd.	261,000		358,356
Corn Products International, Inc.	10,700		304,094
Golden Agri-Resources Ltd. (a)	2,624,000		970,297
IOI Corp. Bhd	607,206		915,766
Origin Agritech Ltd. (a)	40,410		428,346
PPB Group Bhd	60,900		284,994
Shree Renuka Sugars Ltd.	25,995		114,913
Viterra, Inc. (a)	149,500		1,332,400
Wilmar International Ltd.	536,000		2,511,815
			20,811,987
Packaged Foods & Meats - 0.5%
China Yurun Food Group Ltd.	53,000		148,816
Cosan Ltd. Class A (a)	63,100		492,180
MHP SA GDR (Reg. S) (a)	45,000		489,965
Smithfield Foods, Inc. (a)	31,300		471,378
			1,602,339
TOTAL FOOD PRODUCTS			22,414,326
INDUSTRIAL CONGLOMERATES - 0.1%
Industrial Conglomerates - 0.1%
SembCorp Industries Ltd.	179,000		449,330
MACHINERY - 0.7%
Construction & Farm Machinery & Heavy Trucks - 0.6%
Cummins, Inc.	26,600		1,201,256
Deere & Co.	4,800		239,760
Jain Irrigation Systems Ltd.	27,472		431,333
Lindsay Corp.	700		28,168
			1,900,517
Common Stocks - continued
	Shares		Value
MACHINERY - CONTINUED
Industrial Machinery - 0.1%
Duoyuan Global Water, Inc. ADR	3,800		$ 108,300
Vallourec SA	1,100		189,197
			297,497
TOTAL MACHINERY			2,198,014
METALS & MINING - 30.9%
Aluminum - 0.2%
Alcoa, Inc.	32,700		416,271
Aluminum Corp. of China Ltd. (H Shares) (a)	46,000		46,451
Norsk Hydro ASA (a)	21,420		155,344
			618,066
Diversified Metals & Mining - 14.5%
African Rainbow Minerals Ltd.	27,100		597,276
Anglo American PLC (United Kingdom) (a)	137,751		5,054,071
Antofagasta PLC	17,000		235,971
BHP Billiton PLC	433,129		12,705,557
Eramet SA	1,022		307,671
Eurasian Natural Resources Corp. PLC	28,800		413,603
Exxaro Resources Ltd.	20,700		287,855
First Quantum Minerals Ltd.	12,900		935,561
Freeport-McMoRan Copper & Gold, Inc.	40,200		2,680,938
Grupo Mexico SA de CV Series B	76,582		155,238
HudBay Minerals, Inc. (a)	41,300		466,957
Ivanhoe Mines Ltd. (a)	14,900		208,737
Kazakhmys PLC (a)	5,700		109,412
Mitsubishi Materials Corp. (a)	410,000		1,067,353
Noront Resources Ltd. (a)	85,000		133,545
OJSC MMC Norilsk Nickel sponsored ADR (a)	53,700		821,610
Rio Tinto PLC (Reg.)	163,487		7,972,215
Sumitomo Metal Mining Co. Ltd.	42,000		587,172
Teck Resources Ltd. Class B (sub. vtg.) (a)	43,700		1,430,784
Thompson Creek Metals Co., Inc. (a)	3,500		40,718
Vale SA (PN-A) sponsored ADR	311,000		7,022,380
Vedanta Resources PLC	17,300		663,555
Xstrata PLC (a)	182,091		2,954,581
			46,852,760
Gold - 7.6%
Agnico-Eagle Mines Ltd.:
(Canada)	35,000		1,769,148
Common Stocks - continued
	Shares		Value
METALS & MINING - CONTINUED
Gold - continued
Agnico-Eagle Mines Ltd.: - continued
(United States)	100		$ 5,067
Andean Resources Ltd. (a)	53,697		112,531
AngloGold Ashanti Ltd. sponsored ADR	100,700		3,593,983
Barrick Gold Corp.	93,100		3,231,901
Eldorado Gold Corp. (a)	47,153		560,033
Franco-Nevada Corp.	9,800		247,818
Gold Fields Ltd. sponsored ADR	74,200		847,364
Goldcorp, Inc.	86,000		2,914,654
Harmony Gold Mining Co. Ltd. sponsored ADR	106,700		978,439
IAMGOLD Corp.	33,700		444,060
Kinross Gold Corp.	72,400		1,172,023
Lihir Gold Ltd.	482,061		1,180,747
Newcrest Mining Ltd.	83,809		2,336,629
Newmont Mining Corp.	55,600		2,383,016
Polyus Gold OJSC sponsored ADR	12,000		316,200
Randgold Resources Ltd. sponsored ADR	13,700		944,341
Royal Gold, Inc.	3,300		140,646
Seabridge Gold, Inc. (a)	16,300		392,341
Ventana Gold Corp. (a)	35,500		235,383
Yamana Gold, Inc.	23,500		236,692
Zijin Mining Group Co. Ltd. (H Shares)	382,000		312,431
			24,355,447
Precious Metals & Minerals - 1.1%
Anglo Platinum Ltd. (a)	2,700		257,153
Compania de Minas Buenaventura SA sponsored ADR	9,400		295,912
Impala Platinum Holdings Ltd.	22,700		588,152
Lonmin PLC (a)	5,122		146,516
Mvelaphanda Resources Ltd. (a)	18,573		123,656
Northam Platinum Ltd.	20,900		136,407
Pan American Silver Corp. (a)	45,400		962,026
Polymetal JSC GDR (Reg. S) (a)	15,700		145,767
Silver Standard Resources, Inc. (a)	23,800		414,120
Silver Wheaton Corp. (a)	24,700		340,714
			3,410,423
Steel - 7.5%
Acerinox SA	4,400		82,792
Allegheny Technologies, Inc.	4,000		163,400
Angang Steel Co. Ltd. (H Shares)	88,000		153,468
ArcelorMittal SA (NY Shares) Class A	87,200		3,372,896
Common Stocks - continued
	Shares		Value
METALS & MINING - CONTINUED
Steel - continued
BlueScope Steel Ltd.	373,603		$ 865,539
China Steel Corp.	320,739		326,107
Cliffs Natural Resources, Inc.	3,400		135,830
Commercial Metals Co.	50,800		697,992
Companhia Siderurgica Nacional SA (CSN)	11,000		320,138
Fortescue Metals Group Ltd. (a)	108,115		433,071
Gerdau SA sponsored ADR	26,300		353,735
Hyundai Steel Co.	1,700		125,127
JFE Holdings, Inc.	86,500		3,028,027
Jindal Steel & Power Ltd.	32,040		436,196
JSW Steel Ltd.	14,131		301,921
Kobe Steel Ltd. (a)	626,000		1,123,430
Maanshan Iron & Steel Co. Ltd. (H Shares) (a)	492,000		297,838
Maruichi Steel Tube Ltd.	13,000		235,892
Nippon Steel Corp.	668,000		2,434,607
Nisshin Steel Co. Ltd.	52,000		88,712
Novolipetsk Steel Ojsc (a)	4,500		137,406
Nucor Corp.	26,000		1,060,800
OneSteel Ltd.	321,893		885,211
Outokumpu Oyj (A Shares)	2,163		39,037
POSCO	4,286		1,982,307
Salzgitter AG	2,002		176,978
Sims Metal Management Ltd.	4,066		76,941
SSAB Svenskt Stal AB (B Shares)	7,800		115,454
Sumitomo Metal Industries Ltd.	929,000		2,562,546
Tata Steel Ltd.	57,314		707,152
Ternium SA sponsored ADR (a)	1,700		50,592
Thyssenkrupp AG	7,700		243,716
Tokyo Steel Manufacturing Co. Ltd.	6,500		64,806
United States Steel Corp.	9,300		413,199
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.)	6,100		159,765
Voestalpine AG	8,900		311,594
Yamato Kogyo Co. Ltd.	10,700		338,531
			24,302,753
TOTAL METALS & MINING			99,539,449
OIL, GAS & CONSUMABLE FUELS - 30.8%
Coal & Consumable Fuels - 1.9%
Alpha Natural Resources, Inc. (a)	20,805		844,891
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Coal & Consumable Fuels - continued
Arch Coal, Inc.	79,900		$ 1,683,493
Cameco Corp.	3,300		89,189
Centennial Coal Co. Ltd.	219,375		708,036
China Shenhua Energy Co. Ltd. (H Shares)	35,000		150,568
Cloud Peak Energy, Inc.	23,000		310,730
CONSOL Energy, Inc.	21,500		1,002,115
Energy Resources of Australia Ltd.	21,092		390,730
Massey Energy Co.	3,500		134,820
Paladin Energy Ltd. (a)	157,511		506,976
Peabody Energy Corp.	6,200		261,144
PT Bumi Resources Tbk	495,000		131,030
			6,213,722
Integrated Oil & Gas - 20.8%
BG Group PLC	231,019		4,246,876
BP PLC	891,700		8,319,340
Cenovus Energy, Inc.	10,000		231,086
Chevron Corp.	98,700		7,118,244
China Petroleum & Chemical Corp. (H Shares)	681,000		529,792
ENI SpA	32,227		748,972
Exxon Mobil Corp.	119,900		7,725,157
Hess Corp.	2,700		156,033
Husky Energy, Inc.	1,700		42,289
Imperial Oil Ltd.	13,600		488,903
InterOil Corp. (a)	4,300		254,173
Lukoil Oil Co. sponsored ADR	24,900		1,367,010
Marathon Oil Corp.	128,600		3,833,566
OAO Gazprom sponsored ADR	76,700		1,856,140
Occidental Petroleum Corp.	99,400		7,786,996
OJSC Oil Company Rosneft GDR (Reg. S)	21,800		167,664
OMV AG	1,300		51,201
Origin Energy Ltd.	65,234		924,084
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.)	127,800		4,611,024
Repsol YPF SA	7,040		166,309
Royal Dutch Shell PLC Class A (United Kingdom)	289,150		7,991,762
Sasol Ltd.	11,700		440,519
StatoilHydro ASA	29,900		670,989
Suncor Energy, Inc.	80,632		2,545,718
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Integrated Oil & Gas - continued
Surgutneftegaz JSC sponsored ADR	27,430		$ 229,315
Total SA Series B	75,612		4,369,713
			66,872,875
Oil & Gas Exploration & Production - 7.4%
Anadarko Petroleum Corp.	28,000		1,785,840
Apache Corp.	10,200		1,007,454
Arena Resources, Inc. (a)	2,000		76,680
Berry Petroleum Co. Class A	36,300		983,004
Brigham Exploration Co. (a)	6,100		79,544
Cabot Oil & Gas Corp.	2,000		76,540
Cairn Energy PLC (a)	92,104		474,711
Canadian Natural Resources Ltd.	9,100		580,824
Chesapeake Energy Corp.	33,500		830,130
CNOOC Ltd. sponsored ADR	7,700		1,076,691
CNPC (Hong Kong) Ltd.	20,000		24,962
Compton Petroleum Corp. (a)	63,300		56,238
Denbury Resources, Inc. (a)	60,600		821,130
Devon Energy Corp.	6,600		441,606
EnCana Corp.	6,200		189,601
EOG Resources, Inc.	3,200		289,344
EXCO Resources, Inc.	18,100		317,474
Heritage Oil PLC (a)	9,000		71,089
Inpex Corp.	12		87,737
Japan Petroleum Exploration Co. Ltd.	10,600		498,471
Nexen, Inc.	7,400		162,007
Niko Resources Ltd.	3,600		332,427
Noble Energy, Inc.	2,200		162,668
OPTI Canada, Inc. (a)	111,300		200,888
Pacific Rubiales Energy Corp. (a)	6,300		84,134
Painted Pony Petroleum Ltd. Class A (a)	17,900		117,179
PetroBakken Energy Ltd. Class A	20,748		575,309
Petrobank Energy & Resources Ltd. (a)	17,800		879,430
Petrohawk Energy Corp. (a)	78,800		1,759,604
Plains Exploration & Production Co. (a)	39,900		1,330,665
Quicksilver Resources, Inc. (a)	5,200		69,108
Range Resources Corp.	16,400		754,400
SandRidge Energy, Inc. (a)	54,900		464,454
Santos Ltd.	7,431		86,604
Southwestern Energy Co. (a)	21,700		930,496
Talisman Energy, Inc.	53,900		891,696
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Oil & Gas Exploration & Production - continued
Tullow Oil PLC	20,800		$ 380,980
Ultra Petroleum Corp. (a)	11,700		537,498
Woodside Petroleum Ltd.	7,196		269,348
XTO Energy, Inc.	90,200		4,020,214
			23,778,179
Oil & Gas Refining & Marketing - 0.7%
Frontier Oil Corp.	75,600		941,976
Neste Oil Oyj	3,800		62,166
Nippon Oil Corp.	102,000		477,966
Reliance Industries Ltd.	37,491		850,365
			2,332,473
TOTAL OIL, GAS & CONSUMABLE FUELS			99,197,249
PAPER & FOREST PRODUCTS - 5.6%
Forest Products - 2.3%
Louisiana-Pacific Corp. (a)	86,100		612,171
Sino-Forest Corp. (a)	64,200		1,114,929
Weyerhaeuser Co.	140,900		5,621,910
			7,349,010
Paper Products - 3.3%
Fibria Celulose SA sponsored ADR (a)	41,389		756,591
Holmen AB (B Shares)	3,600		86,179
International Paper Co.	63,800		1,461,658
MeadWestvaco Corp.	10,500		252,735
Nine Dragons Paper (Holdings) Ltd.	369,000		522,801
Nippon Paper Group, Inc.	22,300		581,771
Oji Paper Co. Ltd.	411,000		1,730,143
Sappi Ltd. (a)	86,209		370,957
Stora Enso Oyj (R Shares)	109,600		672,967
Suzano Bahia Sul Papel e Celulose SA	11,000		117,703
Svenska Cellulosa AB (SCA) (B Shares)	139,600		1,880,703
UPM-Kymmene Corp.	189,800		2,081,504
			10,515,712
TOTAL PAPER & FOREST PRODUCTS			17,864,722
REAL ESTATE INVESTMENT TRUSTS - 0.0%
Specialized REITs - 0.0%
Rayonier, Inc.	2,300		96,462
Common Stocks - continued
	Shares		Value
ROAD & RAIL - 0.5%
Railroads - 0.5%
CSX Corp.	16,800		$ 720,048
Union Pacific Corp.	13,700		828,850
			1,548,898
TRADING COMPANIES & DISTRIBUTORS - 0.1%
Trading Companies & Distributors - 0.1%
Kloeckner & Co. AG (a)	15,374		362,998
Noble Group Ltd.	24,000		49,152
			412,150
TOTAL COMMON STOCKS (Cost $320,295,456)		322,200,829
Money Market Funds - 0.6%
Fidelity Cash Central Fund, 0.17% (b) (Cost $2,084,726)	2,084,726		2,084,726
TOTAL INVESTMENT PORTFOLIO - 100.7% (Cost $322,380,182)			324,285,555
NET OTHER ASSETS - (0.7)%			(2,378,467)
NET ASSETS - 100%		$ 321,907,088

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 5,827

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 322,200,829	$ 235,116,618	$ 87,084,211	$ -
Money Market Funds	2,084,726	2,084,726	-	-
Total Investments in Securities:	$ 324,285,555	$ 237,201,344	$ 87,084,211	$ -

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

Investments in Securities:
Beginning Balance	$ 65,806
Total Realized Gain (Loss)	69,126
Total Unrealized Gain (Loss)	(9,563)
Cost of Purchases	55,134
Proceeds of Sales	(180,503)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

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

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $322,579,491. Net unrealized appreciation aggregated $1,706,064, of which $19,690,482 related to appreciated investment securities and $17,984,418 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor
Global Commodity Stock
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

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

1.879402.100

AGCS-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 100.1%
	Shares		Value
BUILDING PRODUCTS - 0.2%
Building Products - 0.2%
USG Corp. (a)	40,800		$ 490,008
CHEMICALS - 20.0%
Diversified Chemicals - 0.4%
Dow Chemical Co.	33,400		904,806
FMC Corp.	9,000		458,460
			1,363,266
Fertilizers & Agricultural Chemicals - 19.4%
Agrium, Inc.	40,000		2,249,696
CF Industries Holdings, Inc.	19,472		1,808,170
China BlueChemical Ltd. (H shares)	648,000		422,321
Coromandel International Ltd.	5,016		30,515
Fertilizantes Heringer SA (a)	78,200		458,829
Incitec Pivot Ltd.	499,200		1,487,577
Israel Chemicals Ltd.	223,200		2,954,826
K&S AG	62,407		3,507,194
Monsanto Co.	228,300		17,323,399
Nufarm Ltd.	50,978		458,887
Potash Corp. of Saskatchewan, Inc.	71,600		7,092,371
Sinofert Holdings Ltd.	2,182,000		1,270,312
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR	8,500		309,230
Syngenta AG (Switzerland)	38,742		9,913,920
Taiwan Fertilizer Co. Ltd.	284,000		928,453
Terra Industries, Inc.	55,000		1,738,000
The Mosaic Co.	110,500		5,912,855
United Phosphorous Ltd.	309,979		1,044,352
Uralkali JSC GDR (Reg. S) (a)	20,000		427,189
Yara International ASA	73,400		3,064,391
			62,402,487
Specialty Chemicals - 0.2%
Innophos Holdings, Inc.	7,200		140,832
Johnson Matthey PLC	22,050		512,607
			653,439
TOTAL CHEMICALS			64,419,192
COMMERCIAL SERVICES & SUPPLIES - 0.0%
Environmental & Facility Services - 0.0%
RINO International Corp. (a)	900		18,135
Common Stocks - continued
	Shares		Value
CONSTRUCTION & ENGINEERING - 0.6%
Construction & Engineering - 0.6%
Fluor Corp.	32,200		$ 1,459,948
Jacobs Engineering Group, Inc. (a)	12,600		476,154
			1,936,102
CONSTRUCTION MATERIALS - 0.6%
Construction Materials - 0.6%
Cemex SA de CV sponsored ADR	55,200		507,288
HeidelbergCement AG	16,812		1,013,093
Martin Marietta Materials, Inc.	2,900		229,622
Vulcan Materials Co.	6,500		287,235
			2,037,238
ELECTRICAL EQUIPMENT - 0.2%
Electrical Components & Equipment - 0.2%
First Solar, Inc. (a)	560		63,448
Renewable Energy Corp. AS (a)	50,013		290,020
SunPower Corp. Class B (a)	11,800		219,126
			572,594
ENERGY EQUIPMENT & SERVICES - 2.8%
Oil & Gas Drilling - 1.1%
Ensco International Ltd. ADR	25,800		1,006,974
Helmerich & Payne, Inc.	5,000		209,150
Nabors Industries Ltd. (a)	20,200		450,460
Northern Offshore Ltd. (a)	351,500		607,957
Pride International, Inc. (a)	16,300		482,480
Transocean Ltd. (a)	5,000		423,700
Vantage Drilling Co. (a)	281,600		397,056
			3,577,777
Oil & Gas Equipment & Services - 1.7%
Aker Solutions ASA	4,600		61,386
BJ Services Co.	47,800		988,026
Halliburton Co.	16,500		481,965
ION Geophysical Corp. (a)	9,300		44,175
National Oilwell Varco, Inc.	17,100		699,390
Petroleum Geo-Services ASA (a)	40,200		500,245
Saipem SpA	21,154		684,857
Smith International, Inc.	11,500		348,680
Technip SA	3,900		266,599
Tenaris SA sponsored ADR	3,100		136,400
Common Stocks - continued
	Shares		Value
ENERGY EQUIPMENT & SERVICES - CONTINUED
Oil & Gas Equipment & Services - continued
Weatherford International Ltd. (a)	61,800		$ 969,024
Wellstream Holdings PLC	31,400		248,436
			5,429,183
TOTAL ENERGY EQUIPMENT & SERVICES			9,006,960
FOOD PRODUCTS - 7.0%
Agricultural Products - 6.5%
Archer Daniels Midland Co.	233,000		6,983,010
Bunge Ltd.	112,400		6,607,996
China Agri-Industries Holding Ltd.	261,000		358,356
Corn Products International, Inc.	10,700		304,094
Golden Agri-Resources Ltd. (a)	2,624,000		970,297
IOI Corp. Bhd	607,206		915,766
Origin Agritech Ltd. (a)	40,410		428,346
PPB Group Bhd	60,900		284,994
Shree Renuka Sugars Ltd.	25,995		114,913
Viterra, Inc. (a)	149,500		1,332,400
Wilmar International Ltd.	536,000		2,511,815
			20,811,987
Packaged Foods & Meats - 0.5%
China Yurun Food Group Ltd.	53,000		148,816
Cosan Ltd. Class A (a)	63,100		492,180
MHP SA GDR (Reg. S) (a)	45,000		489,965
Smithfield Foods, Inc. (a)	31,300		471,378
			1,602,339
TOTAL FOOD PRODUCTS			22,414,326
INDUSTRIAL CONGLOMERATES - 0.1%
Industrial Conglomerates - 0.1%
SembCorp Industries Ltd.	179,000		449,330
MACHINERY - 0.7%
Construction & Farm Machinery & Heavy Trucks - 0.6%
Cummins, Inc.	26,600		1,201,256
Deere & Co.	4,800		239,760
Jain Irrigation Systems Ltd.	27,472		431,333
Lindsay Corp.	700		28,168
			1,900,517
Common Stocks - continued
	Shares		Value
MACHINERY - CONTINUED
Industrial Machinery - 0.1%
Duoyuan Global Water, Inc. ADR	3,800		$ 108,300
Vallourec SA	1,100		189,197
			297,497
TOTAL MACHINERY			2,198,014
METALS & MINING - 30.9%
Aluminum - 0.2%
Alcoa, Inc.	32,700		416,271
Aluminum Corp. of China Ltd. (H Shares) (a)	46,000		46,451
Norsk Hydro ASA (a)	21,420		155,344
			618,066
Diversified Metals & Mining - 14.5%
African Rainbow Minerals Ltd.	27,100		597,276
Anglo American PLC (United Kingdom) (a)	137,751		5,054,071
Antofagasta PLC	17,000		235,971
BHP Billiton PLC	433,129		12,705,557
Eramet SA	1,022		307,671
Eurasian Natural Resources Corp. PLC	28,800		413,603
Exxaro Resources Ltd.	20,700		287,855
First Quantum Minerals Ltd.	12,900		935,561
Freeport-McMoRan Copper & Gold, Inc.	40,200		2,680,938
Grupo Mexico SA de CV Series B	76,582		155,238
HudBay Minerals, Inc. (a)	41,300		466,957
Ivanhoe Mines Ltd. (a)	14,900		208,737
Kazakhmys PLC (a)	5,700		109,412
Mitsubishi Materials Corp. (a)	410,000		1,067,353
Noront Resources Ltd. (a)	85,000		133,545
OJSC MMC Norilsk Nickel sponsored ADR (a)	53,700		821,610
Rio Tinto PLC (Reg.)	163,487		7,972,215
Sumitomo Metal Mining Co. Ltd.	42,000		587,172
Teck Resources Ltd. Class B (sub. vtg.) (a)	43,700		1,430,784
Thompson Creek Metals Co., Inc. (a)	3,500		40,718
Vale SA (PN-A) sponsored ADR	311,000		7,022,380
Vedanta Resources PLC	17,300		663,555
Xstrata PLC (a)	182,091		2,954,581
			46,852,760
Gold - 7.6%
Agnico-Eagle Mines Ltd.:
(Canada)	35,000		1,769,148
Common Stocks - continued
	Shares		Value
METALS & MINING - CONTINUED
Gold - continued
Agnico-Eagle Mines Ltd.: - continued
(United States)	100		$ 5,067
Andean Resources Ltd. (a)	53,697		112,531
AngloGold Ashanti Ltd. sponsored ADR	100,700		3,593,983
Barrick Gold Corp.	93,100		3,231,901
Eldorado Gold Corp. (a)	47,153		560,033
Franco-Nevada Corp.	9,800		247,818
Gold Fields Ltd. sponsored ADR	74,200		847,364
Goldcorp, Inc.	86,000		2,914,654
Harmony Gold Mining Co. Ltd. sponsored ADR	106,700		978,439
IAMGOLD Corp.	33,700		444,060
Kinross Gold Corp.	72,400		1,172,023
Lihir Gold Ltd.	482,061		1,180,747
Newcrest Mining Ltd.	83,809		2,336,629
Newmont Mining Corp.	55,600		2,383,016
Polyus Gold OJSC sponsored ADR	12,000		316,200
Randgold Resources Ltd. sponsored ADR	13,700		944,341
Royal Gold, Inc.	3,300		140,646
Seabridge Gold, Inc. (a)	16,300		392,341
Ventana Gold Corp. (a)	35,500		235,383
Yamana Gold, Inc.	23,500		236,692
Zijin Mining Group Co. Ltd. (H Shares)	382,000		312,431
			24,355,447
Precious Metals & Minerals - 1.1%
Anglo Platinum Ltd. (a)	2,700		257,153
Compania de Minas Buenaventura SA sponsored ADR	9,400		295,912
Impala Platinum Holdings Ltd.	22,700		588,152
Lonmin PLC (a)	5,122		146,516
Mvelaphanda Resources Ltd. (a)	18,573		123,656
Northam Platinum Ltd.	20,900		136,407
Pan American Silver Corp. (a)	45,400		962,026
Polymetal JSC GDR (Reg. S) (a)	15,700		145,767
Silver Standard Resources, Inc. (a)	23,800		414,120
Silver Wheaton Corp. (a)	24,700		340,714
			3,410,423
Steel - 7.5%
Acerinox SA	4,400		82,792
Allegheny Technologies, Inc.	4,000		163,400
Angang Steel Co. Ltd. (H Shares)	88,000		153,468
ArcelorMittal SA (NY Shares) Class A	87,200		3,372,896
Common Stocks - continued
	Shares		Value
METALS & MINING - CONTINUED
Steel - continued
BlueScope Steel Ltd.	373,603		$ 865,539
China Steel Corp.	320,739		326,107
Cliffs Natural Resources, Inc.	3,400		135,830
Commercial Metals Co.	50,800		697,992
Companhia Siderurgica Nacional SA (CSN)	11,000		320,138
Fortescue Metals Group Ltd. (a)	108,115		433,071
Gerdau SA sponsored ADR	26,300		353,735
Hyundai Steel Co.	1,700		125,127
JFE Holdings, Inc.	86,500		3,028,027
Jindal Steel & Power Ltd.	32,040		436,196
JSW Steel Ltd.	14,131		301,921
Kobe Steel Ltd. (a)	626,000		1,123,430
Maanshan Iron & Steel Co. Ltd. (H Shares) (a)	492,000		297,838
Maruichi Steel Tube Ltd.	13,000		235,892
Nippon Steel Corp.	668,000		2,434,607
Nisshin Steel Co. Ltd.	52,000		88,712
Novolipetsk Steel Ojsc (a)	4,500		137,406
Nucor Corp.	26,000		1,060,800
OneSteel Ltd.	321,893		885,211
Outokumpu Oyj (A Shares)	2,163		39,037
POSCO	4,286		1,982,307
Salzgitter AG	2,002		176,978
Sims Metal Management Ltd.	4,066		76,941
SSAB Svenskt Stal AB (B Shares)	7,800		115,454
Sumitomo Metal Industries Ltd.	929,000		2,562,546
Tata Steel Ltd.	57,314		707,152
Ternium SA sponsored ADR (a)	1,700		50,592
Thyssenkrupp AG	7,700		243,716
Tokyo Steel Manufacturing Co. Ltd.	6,500		64,806
United States Steel Corp.	9,300		413,199
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.)	6,100		159,765
Voestalpine AG	8,900		311,594
Yamato Kogyo Co. Ltd.	10,700		338,531
			24,302,753
TOTAL METALS & MINING			99,539,449
OIL, GAS & CONSUMABLE FUELS - 30.8%
Coal & Consumable Fuels - 1.9%
Alpha Natural Resources, Inc. (a)	20,805		844,891
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Coal & Consumable Fuels - continued
Arch Coal, Inc.	79,900		$ 1,683,493
Cameco Corp.	3,300		89,189
Centennial Coal Co. Ltd.	219,375		708,036
China Shenhua Energy Co. Ltd. (H Shares)	35,000		150,568
Cloud Peak Energy, Inc.	23,000		310,730
CONSOL Energy, Inc.	21,500		1,002,115
Energy Resources of Australia Ltd.	21,092		390,730
Massey Energy Co.	3,500		134,820
Paladin Energy Ltd. (a)	157,511		506,976
Peabody Energy Corp.	6,200		261,144
PT Bumi Resources Tbk	495,000		131,030
			6,213,722
Integrated Oil & Gas - 20.8%
BG Group PLC	231,019		4,246,876
BP PLC	891,700		8,319,340
Cenovus Energy, Inc.	10,000		231,086
Chevron Corp.	98,700		7,118,244
China Petroleum & Chemical Corp. (H Shares)	681,000		529,792
ENI SpA	32,227		748,972
Exxon Mobil Corp.	119,900		7,725,157
Hess Corp.	2,700		156,033
Husky Energy, Inc.	1,700		42,289
Imperial Oil Ltd.	13,600		488,903
InterOil Corp. (a)	4,300		254,173
Lukoil Oil Co. sponsored ADR	24,900		1,367,010
Marathon Oil Corp.	128,600		3,833,566
OAO Gazprom sponsored ADR	76,700		1,856,140
Occidental Petroleum Corp.	99,400		7,786,996
OJSC Oil Company Rosneft GDR (Reg. S)	21,800		167,664
OMV AG	1,300		51,201
Origin Energy Ltd.	65,234		924,084
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.)	127,800		4,611,024
Repsol YPF SA	7,040		166,309
Royal Dutch Shell PLC Class A (United Kingdom)	289,150		7,991,762
Sasol Ltd.	11,700		440,519
StatoilHydro ASA	29,900		670,989
Suncor Energy, Inc.	80,632		2,545,718
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Integrated Oil & Gas - continued
Surgutneftegaz JSC sponsored ADR	27,430		$ 229,315
Total SA Series B	75,612		4,369,713
			66,872,875
Oil & Gas Exploration & Production - 7.4%
Anadarko Petroleum Corp.	28,000		1,785,840
Apache Corp.	10,200		1,007,454
Arena Resources, Inc. (a)	2,000		76,680
Berry Petroleum Co. Class A	36,300		983,004
Brigham Exploration Co. (a)	6,100		79,544
Cabot Oil & Gas Corp.	2,000		76,540
Cairn Energy PLC (a)	92,104		474,711
Canadian Natural Resources Ltd.	9,100		580,824
Chesapeake Energy Corp.	33,500		830,130
CNOOC Ltd. sponsored ADR	7,700		1,076,691
CNPC (Hong Kong) Ltd.	20,000		24,962
Compton Petroleum Corp. (a)	63,300		56,238
Denbury Resources, Inc. (a)	60,600		821,130
Devon Energy Corp.	6,600		441,606
EnCana Corp.	6,200		189,601
EOG Resources, Inc.	3,200		289,344
EXCO Resources, Inc.	18,100		317,474
Heritage Oil PLC (a)	9,000		71,089
Inpex Corp.	12		87,737
Japan Petroleum Exploration Co. Ltd.	10,600		498,471
Nexen, Inc.	7,400		162,007
Niko Resources Ltd.	3,600		332,427
Noble Energy, Inc.	2,200		162,668
OPTI Canada, Inc. (a)	111,300		200,888
Pacific Rubiales Energy Corp. (a)	6,300		84,134
Painted Pony Petroleum Ltd. Class A (a)	17,900		117,179
PetroBakken Energy Ltd. Class A	20,748		575,309
Petrobank Energy & Resources Ltd. (a)	17,800		879,430
Petrohawk Energy Corp. (a)	78,800		1,759,604
Plains Exploration & Production Co. (a)	39,900		1,330,665
Quicksilver Resources, Inc. (a)	5,200		69,108
Range Resources Corp.	16,400		754,400
SandRidge Energy, Inc. (a)	54,900		464,454
Santos Ltd.	7,431		86,604
Southwestern Energy Co. (a)	21,700		930,496
Talisman Energy, Inc.	53,900		891,696
Common Stocks - continued
	Shares		Value
OIL, GAS & CONSUMABLE FUELS - CONTINUED
Oil & Gas Exploration & Production - continued
Tullow Oil PLC	20,800		$ 380,980
Ultra Petroleum Corp. (a)	11,700		537,498
Woodside Petroleum Ltd.	7,196		269,348
XTO Energy, Inc.	90,200		4,020,214
			23,778,179
Oil & Gas Refining & Marketing - 0.7%
Frontier Oil Corp.	75,600		941,976
Neste Oil Oyj	3,800		62,166
Nippon Oil Corp.	102,000		477,966
Reliance Industries Ltd.	37,491		850,365
			2,332,473
TOTAL OIL, GAS & CONSUMABLE FUELS			99,197,249
PAPER & FOREST PRODUCTS - 5.6%
Forest Products - 2.3%
Louisiana-Pacific Corp. (a)	86,100		612,171
Sino-Forest Corp. (a)	64,200		1,114,929
Weyerhaeuser Co.	140,900		5,621,910
			7,349,010
Paper Products - 3.3%
Fibria Celulose SA sponsored ADR (a)	41,389		756,591
Holmen AB (B Shares)	3,600		86,179
International Paper Co.	63,800		1,461,658
MeadWestvaco Corp.	10,500		252,735
Nine Dragons Paper (Holdings) Ltd.	369,000		522,801
Nippon Paper Group, Inc.	22,300		581,771
Oji Paper Co. Ltd.	411,000		1,730,143
Sappi Ltd. (a)	86,209		370,957
Stora Enso Oyj (R Shares)	109,600		672,967
Suzano Bahia Sul Papel e Celulose SA	11,000		117,703
Svenska Cellulosa AB (SCA) (B Shares)	139,600		1,880,703
UPM-Kymmene Corp.	189,800		2,081,504
			10,515,712
TOTAL PAPER & FOREST PRODUCTS			17,864,722
REAL ESTATE INVESTMENT TRUSTS - 0.0%
Specialized REITs - 0.0%
Rayonier, Inc.	2,300		96,462
Common Stocks - continued
	Shares		Value
ROAD & RAIL - 0.5%
Railroads - 0.5%
CSX Corp.	16,800		$ 720,048
Union Pacific Corp.	13,700		828,850
			1,548,898
TRADING COMPANIES & DISTRIBUTORS - 0.1%
Trading Companies & Distributors - 0.1%
Kloeckner & Co. AG (a)	15,374		362,998
Noble Group Ltd.	24,000		49,152
			412,150
TOTAL COMMON STOCKS (Cost $320,295,456)		322,200,829
Money Market Funds - 0.6%
Fidelity Cash Central Fund, 0.17% (b) (Cost $2,084,726)	2,084,726		2,084,726
TOTAL INVESTMENT PORTFOLIO - 100.7% (Cost $322,380,182)			324,285,555
NET OTHER ASSETS - (0.7)%			(2,378,467)
NET ASSETS - 100%		$ 321,907,088

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 5,827

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 322,200,829	$ 235,116,618	$ 87,084,211	$ -
Money Market Funds	2,084,726	2,084,726	-	-
Total Investments in Securities:	$ 324,285,555	$ 237,201,344	$ 87,084,211	$ -

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

Investments in Securities:
Beginning Balance	$ 65,806
Total Realized Gain (Loss)	69,126
Total Unrealized Gain (Loss)	(9,563)
Cost of Purchases	55,134
Proceeds of Sales	(180,503)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

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

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $322,579,491. Net unrealized appreciation aggregated $1,706,064, of which $19,690,482 related to appreciated investment securities and $17,984,418 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® International Capital Appreciation Fund

January 31, 2010

1.813010.105

IVF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 100.5%
	Shares		Value
Australia - 2.3%
Fortescue Metals Group Ltd. (a)	648,938		$ 2,599,420
MacArthur Coal Ltd.	316,974		2,648,686
Macquarie Group Ltd.	76,419		3,389,487
Westfield Group unit	314,697		3,517,343
TOTAL AUSTRALIA			12,154,936
Bailiwick of Guernsey - 0.1%
Raven Russia Ltd.	817,300		651,350
Belgium - 1.5%
Anheuser-Busch InBev SA NV	82,393		4,111,429
Fortis (a)	1,153,100		4,059,108
TOTAL BELGIUM			8,170,537
Bermuda - 1.5%
China LotSynergy Holdings Ltd. (a)	49,964,000		2,445,446
Huabao International Holdings Ltd.	2,801,000		2,850,083
Northern Offshore Ltd. (a)(c)	1,554,000		2,687,812
TOTAL BERMUDA			7,983,341
Brazil - 4.7%
BR Malls Participacoes SA (a)	255,100		2,772,944
Centrais Eletricas Brasileiras SA (Electrobras) sponsored ADR	247,097		5,258,224
Net Servicos de Comunicacao SA sponsored ADR	238,900		2,826,187
OGX Petroleo e Gas Participacoes SA	310,000		2,771,088
PDG Realty S.A. Empreendimentos e Participacoes	335,700		2,648,201
TIM Participacoes SA sponsored ADR (non-vtg.)	108,100		2,839,787
Vale SA (PN-A) sponsored ADR	275,700		6,225,306
TOTAL BRAZIL			25,341,737
Canada - 7.2%
Dollarama, Inc. (d)	141,400		2,677,780
First Quantum Minerals Ltd.	49,500		3,589,942
Grande Cache Coal Corp. (a)	681,700		3,327,854
InterOil Corp. (a)(c)	44,800		2,648,128
Niko Resources Ltd.	30,800		2,844,096
OPTI Canada, Inc. (a)(c)	1,437,600		2,594,752
Petrobank Energy & Resources Ltd. (a)	60,400		2,984,132
Quadra Mining Ltd. (a)	199,300		2,667,150
Research In Motion Ltd. (a)	65,900		4,149,064
Suncor Energy, Inc.	139,300		4,397,987
Talisman Energy, Inc.	198,400		3,282,237
Teck Resources Ltd. Class B (sub. vtg.) (a)	104,700		3,427,987
TOTAL CANADA			38,591,109
Cayman Islands - 3.8%
China High Speed Transmission Equipment Group Co. Ltd.	1,277,000		2,559,280
Daphne International Holdings Ltd.	4,286,000		3,257,028
Hengdeli Holdings Ltd.	9,320,000		3,097,083
	Shares		Value
Hidili Industry International Development Ltd. (a)	2,784,000		$ 2,943,945
IFM Investments Ltd. ADR (a)	416,200		2,988,316
Peak Sport Products Co. Ltd.	5,039,000		3,134,792
Trina Solar Ltd. ADR (a)(c)	124,700		2,734,671
TOTAL CAYMAN ISLANDS			20,715,115
China - 1.8%
Baidu.com, Inc. sponsored ADR (a)	6,400		2,634,944
China Life Insurance Co. Ltd. ADR	61,100		4,035,044
Digital China Holdings Ltd. (H Shares)	1,760,000		2,806,407
TOTAL CHINA			9,476,395
Cyprus - 0.5%
AFI Development PLC GDR (Reg. S) (a)	1,208,200		2,570,006
Denmark - 0.5%
Carlsberg AS Series B	39,100		2,915,994
Finland - 0.5%
Fortum Corp.	111,400		2,826,855
France - 8.0%
Accor SA	60,032		3,028,524
Atos Origin SA (a)	61,114		2,842,155
BNP Paribas SA	74,461		5,319,076
Carrefour SA	78,604		3,834,898
Credit Agricole SA	221,100		3,465,805
Iliad Group SA	23,429		2,596,651
Renault SA (a)	65,900		3,093,503
Saft Groupe SA	63,118		2,706,523
Sanofi-Aventis sponsored ADR	219,000		8,061,390
Schneider Electric SA	33,942		3,501,488
Societe Generale Series A	84,169		4,869,608
TOTAL FRANCE			43,319,621
Germany - 3.8%
Aixtron AG	89,100		2,680,295
Continental AG (a)	50,245		2,766,982
Daimler AG (Reg.)	93,541		4,285,113
Deutsche Bank AG (NY Shares)	81,700		4,981,249
HeidelbergCement AG	48,888		2,945,997
Metro AG	52,600		2,869,153
TOTAL GERMANY			20,528,789
Hong Kong - 0.5%
Shanghai Industrial Holdings Ltd.	566,000		2,642,663
India - 3.8%
Bank of Baroda	237,112		2,958,438
BGR Energy Systems Ltd.	26,617		263,573
Educomp Solutions Ltd.	199,076		3,040,414
Financial Technologies India Ltd.	86,939		2,876,197
Housing Development and Infrastructure Ltd. (a)	435,834		3,123,831
ICSA (India) Ltd.	734,755		2,563,877
Common Stocks - continued
	Shares		Value
India - continued
Jaiprakash Associates Ltd.	1,031,687		$ 3,082,200
MIC Electronics Ltd.	2,665,069		2,721,404
TOTAL INDIA			20,629,934
Ireland - 0.5%
Covidien PLC	54,600		2,760,576
Israel - 0.9%
Teva Pharmaceutical Industries Ltd. sponsored ADR	85,800		4,866,576
Italy - 1.2%
Intesa Sanpaolo SpA	1,024,520		3,899,836
Mediaset SpA	363,000		2,755,366
TOTAL ITALY			6,655,202
Japan - 14.5%
eAccess Ltd.	4,237		3,003,966
Elpida Memory, Inc. (a)	143,400		2,543,297
Fujifilm Holdings Corp.	109,600		3,510,144
Gulliver International Co. Ltd. (c)	47,570		2,766,617
Itochu Corp.	409,000		3,207,843
Japan Tobacco, Inc.	893		3,234,862
JTEKT Corp.	229,300		2,618,902
Kenedix, Inc. (a)	7,741		2,398,535
Kirin Holdings Co. Ltd.	197,000		3,009,449
Kyocera Corp.	38,800		3,511,454
Mazda Motor Corp. (a)	1,204,000		3,267,752
Mitsubishi Corp.	149,700		3,626,829
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	1,153,900		5,919,507
Mitsui & Co. Ltd.	245,200		3,618,106
Omron Corp.	153,200		3,053,138
ORIX Corp.	67,210		5,062,900
Sapporo Breweries Ltd. (c)	474,000		2,504,686
SOFTBANK CORP.	151,100		3,851,568
Sony Corp. sponsored ADR	119,000		3,954,370
Sumitomo Metal Industries Ltd.	1,115,000		3,075,606
Sumitomo Mitsui Financial Group, Inc.	127,300		4,138,977
Toshiba Corp. (a)	632,000		3,479,605
Uni-Charm Corp.	29,600		2,813,426
TOTAL JAPAN			78,171,539
Korea (South) - 2.6%
Hyundai Mipo Dockyard Co. Ltd.	24,920		2,343,843
Kia Motors Corp. (a)	164,820		2,780,421
LG Corp.	52,334		2,840,459
Samsung Electronics Co. Ltd.	9,211		6,231,273
TOTAL KOREA (SOUTH)			14,195,996
Mexico - 0.6%
Grupo Mexico SA de CV Series B	1,459,871		2,959,270
Netherlands - 3.7%
ASM International NV (Netherlands) (a)(c)	121,000		2,784,798
	Shares		Value
European Aeronautic Defence and Space Co. EADS NV	160,000		$ 3,126,999
ING Groep NV sponsored ADR (a)(c)	750,842		7,057,915
Koninklijke Philips Electronics NV	125,837		3,799,907
Randstad Holdings NV (a)	61,604		2,956,426
TOTAL NETHERLANDS			19,726,045
Norway - 1.3%
Pronova BioPharma ASA (a)(c)	1,697,400		4,994,329
Sevan Marine ASA (a)(c)	1,567,472		2,256,168
TOTAL NORWAY			7,250,497
Qatar - 0.7%
Commercial Bank of Qatar GDR (Reg. S)	1,105,748		3,843,027
Russia - 4.6%
LSR Group OJSC GDR (Reg. S) (a)	322,700		2,627,617
Magnit OJSC GDR (Reg. S)	184,400		2,774,104
Mechel Steel Group OAO sponsored ADR	140,300		2,776,537
Mosenergo AO sponsored ADR (a)	197,700		2,372,400
OAO Gazprom sponsored ADR	206,000		4,985,200
PIK Group GDR (Reg. S) unit (a)	551,000		2,828,713
RusHydro JSC sponsored ADR (a)	719,600		3,115,494
VTB Bank JSC unit	611,800		3,049,737
TOTAL RUSSIA			24,529,802
South Africa - 2.9%
Barloworld Ltd.	501,423		2,973,306
Clicks Group Ltd.	830,638		2,887,717
MTN Group Ltd.	250,600		3,598,270
Naspers Ltd. Class N	90,400		3,202,057
Raubex Group Ltd.	935,100		2,772,448
TOTAL SOUTH AFRICA			15,433,798
Spain - 1.7%
EDP Renovaveis SA (a)	321,938		2,774,492
Telefonica SA sponsored ADR	91,000		6,515,600
TOTAL SPAIN			9,290,092
Sweden - 1.0%
EnergyO Solutions AB (a)	935,789		5,401,729
Switzerland - 2.5%
Actelion Ltd. (Reg.) (a)	69,485		3,676,072
Clariant AG (Reg.) (a)	260,606		2,860,120
UBS AG (NY Shares) (a)	541,400		7,043,614
TOTAL SWITZERLAND			13,579,806
Taiwan - 1.0%
Epistar Corp.	949,000		3,013,405
Prime View International Co. Ltd. (a)	1,275,000		2,337,400
TOTAL TAIWAN			5,350,805
United Kingdom - 10.8%
Anglo American PLC (United Kingdom) (a)	122,400		4,490,844
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Barclays PLC Sponsored ADR	440,700		$ 7,540,377
BG Group PLC	268,271		4,931,688
BT Group PLC	1,527,100		3,332,592
Cairn Energy PLC (a)	531,880		2,741,352
Carphone Warehouse Group PLC	894,562		2,714,470
Centrica PLC	814,279		3,495,619
Ferrexpo PLC	791,500		2,568,852
Imperial Tobacco Group PLC	127,157		4,100,407
Rio Tinto PLC (Reg.)	143,500		6,997,577
SABMiller PLC	128,000		3,480,780
Standard Chartered PLC (United Kingdom)	198,552		4,573,248
Vedanta Resources PLC	72,400		2,776,958
Xstrata PLC (a)	274,000		4,445,883
TOTAL UNITED KINGDOM			58,190,647
United States of America - 9.5%
Bank of America Corp.	363,278		5,514,560
Capital One Financial Corp.	148,100		5,458,966
Central European Distribution Corp. (a)	82,200		2,634,510
Citigroup, Inc.	1,638,200		5,438,824
First Solar, Inc. (a)	24,100		2,730,530
Goldman Sachs Group, Inc.	18,400		2,736,448
JPMorgan Chase & Co.	138,310		5,385,791
Las Vegas Sands Corp. (a)	179,300		2,779,150
Morgan Stanley	196,163		5,253,245
PNC Financial Services Group, Inc.	53,600		2,971,048
Rubicon Technology, Inc. (a)(c)	154,949		2,445,095
Veeco Instruments, Inc. (a)	83,900		2,669,698
Wells Fargo & Co.	188,800		5,367,584
TOTAL UNITED STATES OF AMERICA			51,385,449
TOTAL COMMON STOCKS (Cost $540,518,715)		542,109,238
Nonconvertible Preferred Stocks - 1.1%
Germany - 0.6%
ProSiebenSat.1 Media AG	231,000		3,109,042
	Shares		Value
Italy - 0.5%
Fiat SpA (Risparmio Shares)	367,600		$ 2,958,780
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $5,787,532)		6,067,822
Money Market Funds - 4.3%
Fidelity Cash Central Fund, 0.17% (e)	7,970,993		7,970,993
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	15,269,776		15,269,776
TOTAL MONEY MARKET FUNDS (Cost $23,240,769)		23,240,769

TOTAL INVESTMENT PORTFOLIO - 105.9% (Cost $569,547,016)	571,417,829
NET OTHER ASSETS - (5.9)%	(31,631,345)
NET ASSETS - 100%	$ 539,786,484

Legend

(a) Non-income producing

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

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

(d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,677,780 or 0.5% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 2,747
Fidelity Securities Lending Cash Central Fund	74,614
Total	$ 77,361

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 78,171,539	$ 71,149,941	$ 7,021,598	$ -
United Kingdom	58,190,647	7,540,377	50,650,270	-
United States of America	51,385,449	51,385,449	-	-
France	43,319,621	8,061,390	35,258,231	-
Canada	38,591,109	38,591,109	-	-
Brazil	25,341,737	25,341,737	-	-
Russia	24,529,802	10,134,137	14,395,665	-
Germany	23,637,831	4,981,249	18,656,582	-
Cayman Islands	20,715,115	20,715,115	-	-
Other	184,294,210	116,383,607	67,910,603	-
Money Market Funds	23,240,769	23,240,769	-	-
Total Investments in Securities:	$ 571,417,829	$ 377,524,880	$ 193,892,949	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $577,102,425. Net unrealized depreciation aggregated $5,684,596, of which $28,042,350 related to appreciated investment securities and $33,726,946 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® International Discovery Fund -

International Discovery
Class K

January 31, 2010

1.813016.105

IGI-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.9%
	Shares		Value (000s)
Australia - 2.8%
Billabong International Ltd.	1,362,374		$ 12,625
Commonwealth Bank of Australia	1,708,703		80,426
Goodman Group unit	19,769,557		10,227
Macquarie Group Ltd.	1,173,702		52,058
National Australia Bank Ltd.	2,104,205		49,065
QBE Insurance Group Ltd.	824,709		16,714
Wesfarmers Ltd.	1,132,580		27,551
Westfield Group unit	2,381,694		26,620
TOTAL AUSTRALIA			275,286
Bailiwick of Jersey - 1.3%
Experian PLC	2,838,100		26,984
Informa PLC	13,289,260		69,638
Shire PLC	1,590,700		31,503
TOTAL BAILIWICK OF JERSEY			128,125
Belgium - 1.3%
Anheuser-Busch InBev SA NV	2,464,800		122,994
Bermuda - 0.7%
Aquarius Platinum Ltd. (United Kingdom) (a)	1,418,333		8,340
Huabao International Holdings Ltd.	37,860,000		38,523
Noble Group Ltd.	11,188,000		22,913
TOTAL BERMUDA			69,776
Brazil - 0.7%
Vivo Participacoes SA sponsored ADR (c)	2,363,500		66,154
British Virgin Islands - 0.3%
Playtech Ltd. (c)	3,758,978		30,846
Canada - 2.0%
InterOil Corp. (a)(c)	247,600		14,636
Niko Resources Ltd.	498,400		46,023
Open Text Corp. (a)	1,280,300		50,443
PetroBakken Energy Ltd. Class A	1,642,716		45,550
Petrobank Energy & Resources Ltd. (a)	813,500		40,192
TOTAL CANADA			196,844
Cayman Islands - 1.1%
BaWang International (Group) Holding Ltd.	45,097,000		26,080
Belle International Holdings Ltd.	15,991,000		18,187
Bosideng International Holdings Ltd.	73,892,000		14,657
Hengdeli Holdings Ltd.	64,680,000		21,493
Common Stocks - continued
	Shares		Value (000s)
Cayman Islands - continued
Peak Sport Products Co. Ltd.	9,636,000		$ 5,995
Trina Solar Ltd. ADR (a)(c)	870,400		19,088
TOTAL CAYMAN ISLANDS			105,500
China - 0.8%
Baidu.com, Inc. sponsored ADR (a)	59,800		24,620
NetEase.com, Inc. sponsored ADR (a)	263,453		8,641
Tencent Holdings Ltd.	553,400		10,350
ZTE Corp. (H Shares)	6,574,864		38,616
TOTAL CHINA			82,227
Cyprus - 0.0%
Aisi Realty Public Ltd. (a)(d)	21,633,000		1,288
Denmark - 1.8%
Carlsberg AS Series B	348,600		25,998
Novo Nordisk AS Series B	1,124,086		76,050
William Demant Holding AS (a)	927,000		72,343
TOTAL DENMARK			174,391
Finland - 0.3%
Nokian Tyres PLC	1,254,800		30,336
France - 9.5%
Accor SA	488,751		24,657
Air France KLM (Reg.) (a)	2,714,100		44,225
Alstom SA	172,836		11,540
Atos Origin SA (a)	940,057		43,718
AXA SA	2,521,066		51,909
BNP Paribas SA	918,730		65,629
Cap Gemini SA	240,000		10,657
CFAO SA	273,400		10,916
Compagnie Generale de Geophysique SA (a)	904,300		22,116
Credit Agricole SA	2,453,900		38,466
Danone	636,800		36,413
Iliad Group SA	509,521		56,471
LVMH Moet Hennessy - Louis Vuitton	272,400		29,678
Orpea	573,528		24,815
Pernod-Ricard SA (c)	388,925		31,283
PPR SA	347,600		42,387
Sanofi-Aventis	1,657,010		122,522
Schneider Electric SA	755,082		77,895
Societe Generale Series A	648,463		37,517
Common Stocks - continued
	Shares		Value (000s)
France - continued
Total SA Series B	1,912,766		$ 110,541
Unibail-Rodamco	118,400		25,654
TOTAL FRANCE			919,009
Germany - 6.7%
Aixtron AG	984,200		29,607
BASF AG	812,146		46,094
Bayerische Motoren Werke AG (BMW)	293,768		12,522
Daimler AG (Reg.)	594,462		27,232
Deutsche Bank AG	563,700		34,369
Deutsche Boerse AG	673,925		44,118
Deutsche Post AG	1,066,935		18,567
Deutsche Postbank AG (a)	831,400		25,313
E.ON AG	3,371,600		123,751
GEA Group AG	2,094,883		42,685
HeidelbergCement AG	1,286,567		77,529
MAN SE	657,572		43,962
Metro AG	253,900		13,849
Munich Re Group (Reg.)	115,877		17,309
Siemens AG (Reg.) (c)	1,022,981		91,158
TOTAL GERMANY			648,065
Greece - 0.5%
EFG Eurobank Ergasias SA	1,216,316		10,362
Hellenic Telecommunications Organization SA	1,372,559		18,804
National Bank of Greece SA (a)	865,600		18,921
TOTAL GREECE			48,087
Hong Kong - 0.9%
BYD Electronic International Co. Ltd. (a)	21,255,000		17,986
Henderson Land Development Co. Ltd.	3,738,000		23,664
Sinotruk Hong Kong Ltd.	8,596,000		10,042
Techtronic Industries Co. Ltd.	42,412,500		35,180
TOTAL HONG KONG			86,872
India - 0.3%
Reliance Industries Ltd.	903,416		20,491
Tata Steel Ltd.	1,078,866		13,311
TOTAL INDIA			33,802
Common Stocks - continued
	Shares		Value (000s)
Ireland - 0.8%
CRH PLC	1,532,507		$ 36,801
Paddy Power PLC (Ireland)	1,157,297		38,280
TOTAL IRELAND			75,081
Israel - 0.7%
Israel Chemicals Ltd.	1,513,500		20,036
Teva Pharmaceutical Industries Ltd. sponsored ADR	889,200		50,435
TOTAL ISRAEL			70,471
Italy - 1.6%
Fiat SpA (a)	5,422,600		67,953
Intesa Sanpaolo SpA	5,602,109		21,324
Mediaset SpA	3,230,200		24,519
Saipem SpA	1,233,843		39,945
TOTAL ITALY			153,741
Japan - 19.6%
ABC-Mart, Inc.	201,200		6,219
Asics Corp.	2,858,000		28,305
Canon, Inc.	1,929,350		75,410
Denso Corp.	1,627,300		48,042
Don Quijote Co. Ltd.	627,600		14,107
Fanuc Ltd.	215,600		20,683
Goldcrest Co. Ltd.	437,930		12,327
Honda Motor Co. Ltd.	1,648,300		55,856
Japan Tobacco, Inc.	20,380		73,826
JFE Holdings, Inc.	783,600		27,431
JSR Corp.	2,355,500		46,525
JTEKT Corp.	2,652,400		30,294
Keyence Corp.	200,100		46,174
Kirin Holdings Co. Ltd.	3,228,000		49,312
Konica Minolta Holdings, Inc.	2,333,000		23,880
Kubota Corp.	2,949,000		26,560
Mazda Motor Corp. (a)	13,652,000		37,053
Misumi Group, Inc.	825,300		14,390
Mitsubishi Corp.	2,042,800		49,492
Mitsubishi UFJ Financial Group, Inc.	20,372,800		104,834
Mitsui & Co. Ltd.	3,594,700		53,042
Mitsui Sumitomo Insurance Group Holdings, Inc.	550,700		13,818
Mizuho Financial Group, Inc.	5,753,000		11,153
NHK Spring Co. Ltd.	1,257,000		10,973
Nichi-iko Pharmaceutical Co. Ltd. (c)	595,800		18,217
Nissan Motor Co. Ltd. (a)	2,998,100		24,370
Common Stocks - continued
	Shares		Value (000s)
Japan - continued
Nitori Co. Ltd.	95,350		$ 7,225
Nomura Holdings, Inc.	4,188,300		31,311
NSK Ltd.	4,995,000		36,354
Omron Corp.	4,116,200		82,032
ORIX Corp.	1,108,220		83,482
Rakuten, Inc.	82,574		67,600
Ricoh Co. Ltd.	3,548,000		50,860
Sawai Pharmaceutical Co. Ltd. (c)	160,300		10,584
Shin-Etsu Chemical Co., Ltd.	1,160,100		60,787
SMC Corp.	190,600		23,078
SOFTBANK CORP.	3,098,200		78,974
Sony Corp.	1,270,700		42,378
Sumco Corp.	2,105,600		36,341
Sumitomo Mitsui Financial Group, Inc.	2,014,000		65,482
THK Co. Ltd.	1,760,000		34,919
Tokio Marine Holdings, Inc.	1,837,000		49,654
Tokyo Electron Ltd.	1,411,400		86,307
Toshiba Corp. (a)	9,890,000		54,451
Toyota Motor Corp.	1,894,100		72,850
TOTAL JAPAN			1,896,962
Korea (South) - 1.4%
Kia Motors Corp. (a)	912,890		15,400
NHN Corp. (a)	154,044		22,996
Samsung Electronics Co. Ltd.	92,093		62,301
Shinhan Financial Group Co. Ltd. (a)	1,073,070		37,561
TOTAL KOREA (SOUTH)			138,258
Luxembourg - 0.9%
ArcelorMittal SA (NY Shares) Class A (c)	1,738,100		67,230
Millicom International Cellular SA	282,400		20,141
TOTAL LUXEMBOURG			87,371
Netherlands - 3.9%
Akzo Nobel NV	361,986		21,547
ASML Holding NV (Netherlands)	1,450,700		45,559
Gemalto NV (a)(c)	851,198		33,790
ING Groep NV (Certificaten Van Aandelen) unit (a)	2,749,300		25,745
James Hardie Industries NV unit (a)	5,823,130		38,618
Koninklijke Philips Electronics NV	3,250,500		98,156
Common Stocks - continued
	Shares		Value (000s)
Netherlands - continued
Randstad Holdings NV (a)	2,088,334		$ 100,221
Royal DSM NV	280,000		13,050
TOTAL NETHERLANDS			376,686
Netherlands Antilles - 0.2%
Schlumberger Ltd.	300,900		19,095
Nigeria - 0.0%
Guaranty Trust Bank PLC GDR (Reg. S)	513,700		3,877
Norway - 0.9%
Aker Solutions ASA	1,426,600		19,038
DnB NOR ASA (a)	3,698,155		41,761
Pronova BioPharma ASA (a)	4,726,590		13,907
Sevan Marine ASA (a)	6,990,000		10,061
TOTAL NORWAY			84,767
Singapore - 0.3%
Keppel Corp. Ltd.	4,295,000		25,564
South Africa - 0.8%
African Rainbow Minerals Ltd.	1,243,800		27,413
AngloGold Ashanti Ltd. sponsored ADR	738,400		26,353
Naspers Ltd. Class N	563,100		19,946
TOTAL SOUTH AFRICA			73,712
Spain - 2.8%
Banco Bilbao Vizcaya Argentaria SA	2,777,937		42,344
Banco Santander SA	5,729,217		81,243
NH Hoteles SA (a)	1,468,400		7,245
Telefonica SA	5,658,472		135,547
TOTAL SPAIN			266,379
Sweden - 1.1%
Elekta AB (B Shares) (c)	2,525,000		59,233
Intrum Justitia AB	1,050,299		12,786
Modern Times Group MTG AB (B Shares)	632,500		29,004
Skandinaviska Enskilda Banken AB (A Shares) (a)	1,603,800		9,498
TOTAL SWEDEN			110,521
Switzerland - 8.1%
Actelion Ltd. (Reg.) (a)	651,115		34,447
Adecco SA (Reg.)	510,576		27,509
BB BIOTECH AG	354,261		24,341
Nestle SA (Reg.)	3,291,221		156,002
Common Stocks - continued
	Shares		Value (000s)
Switzerland - continued
Nobel Biocare Holding AG (Switzerland)	1,386,210		$ 40,772
Novartis AG (Reg.)	1,988,514		106,410
Partners Group Holding	176,756		21,931
Roche Holding AG (participation certificate)	815,749		136,853
Sonova Holding AG Class B	552,577		68,389
Swiss Reinsurance Co. (Reg.)	886,145		38,306
Syngenta AG (Switzerland)	54,269		13,887
The Swatch Group AG (Bearer)	79,320		20,734
UBS AG (For. Reg.) (a)	4,230,312		55,169
Zurich Financial Services AG (Reg.)	169,125		35,956
TOTAL SWITZERLAND			780,706
Taiwan - 0.7%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	5,828,200		24,523
MediaTek, Inc.	2,417,000		39,319
TOTAL TAIWAN			63,842
Thailand - 0.3%
Bangkok Bank Ltd. PCL (For. Reg.)	7,297,800		24,736
United Kingdom - 20.9%
Aberdeen Asset Management PLC	18,989,676		37,370
Aegis Group PLC	7,593,391		14,445
Anglo American PLC (United Kingdom) (a)	1,394,300		51,157
Babcock International Group PLC	2,715,100		24,244
Barclays PLC	20,015,493		85,544
BG Group PLC	5,025,900		92,392
BG Group PLC sponsored ADR (c)	207,400		19,085
BHP Billiton PLC	4,416,967		129,569
BP PLC	17,472,100		163,010
British Land Co. PLC	2,304,267		15,989
Carphone Warehouse Group PLC	16,777,953		50,911
Cookson Group PLC (a)	1,543,760		10,465
Hays PLC	8,621,981		15,155
HSBC Holdings PLC (United Kingdom) (Reg.)	20,381,914		218,195
IG Group Holdings PLC	5,301,405		34,067
Imperial Tobacco Group PLC	2,344,206		75,593
InterContinental Hotel Group PLC	2,118,900		30,302
International Personal Finance PLC	9,709,188		33,973
Johnson Matthey PLC	1,048,300		24,370
Kesa Electricals PLC	6,483,219		13,286
Lloyds TSB Group PLC	41,940,164		33,716
Man Group PLC	10,705,397		40,121
Common Stocks - continued
	Shares		Value (000s)
United Kingdom - continued
Misys PLC (a)	2,252,137		$ 7,692
Mothercare PLC	589,700		6,031
National Grid PLC	1,822,400		18,303
Prudential PLC	5,043,807		46,193
Reckitt Benckiser Group PLC	1,661,131		86,110
Rio Tinto PLC (Reg.)	2,940,544		143,392
Royal Dutch Shell PLC Class B	5,305,272		141,123
Schroders PLC	1,580,800		31,239
Segro PLC	4,129,500		20,511
Serco Group PLC	5,343,457		42,473
SSL International PLC	4,962,409		61,491
Standard Chartered PLC (United Kingdom)	1,815,710		41,821
Taylor Wimpey PLC (a)	44,868,072		27,560
Ultra Electronics Holdings PLC	614,667		12,433
Unilever PLC	1,444,400		43,921
Vodafone Group PLC	8,963,743		19,150
Wolseley PLC (a)	1,433,164		31,530
Xstrata PLC (a)	1,889,800		30,664
TOTAL UNITED KINGDOM			2,024,596
United States of America - 1.9%
AsiaInfo Holdings, Inc. (a)	502,800		12,017
Central European Distribution Corp. (a)	1,260,400		40,396
Cummins, Inc.	583,700		26,360
Regal-Beloit Corp.	697,800		33,076
Terra Industries, Inc.	768,600		24,288
Union Pacific Corp.	506,200		30,625
Visa, Inc. Class A	187,600		15,389
TOTAL UNITED STATES OF AMERICA			182,151
TOTAL COMMON STOCKS (Cost $9,052,266)		9,478,118
Nonconvertible Preferred Stocks - 0.7%
Germany - 0.3%
ProSiebenSat.1 Media AG	1,951,500		26,265
Italy - 0.4%
Intesa Sanpaolo SpA	15,194,902		44,565
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $76,706)		70,830
Money Market Funds - 3.0%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.17% (e)	80,771,901		$ 80,772
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	210,274,579		210,275
TOTAL MONEY MARKET FUNDS (Cost $291,047)		291,047
TOTAL INVESTMENT PORTFOLIO - 101.6% (Cost $9,420,019)			9,839,995
NET OTHER ASSETS - (1.6)%			(153,147)
NET ASSETS - 100%		$ 9,686,848

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Aisi Realty Public Ltd.	$ 1,243	$ -	$ -	$ -	$ 1,288

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 34
Fidelity Securities Lending Cash Central Fund	876
Total	$ 910

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 2,024,596	$ 19,085	$ 2,005,511	$ -
Japan	1,896,962	1,489,953	407,009	-
France	919,009	-	919,009	-
Switzerland	780,706	-	780,706	-
Germany	674,330	-	674,330	-
Netherlands	376,686	38,618	338,068	-
Australia	275,286	275,286	-	-
Spain	266,379	-	266,379	-
Italy	198,306	-	198,306	-
Other	2,136,688	1,280,474	856,214	-
Money Market Funds	291,047	291,047	-	-
Total Investments in Securities	$ 9,839,995	$ 3,394,463	$ 6,445,532	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $9,564,852,000. Net unrealized appreciation aggregated $275,143,000, of which $1,214,067,000 related to appreciated investment securities and $938,924,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity Advisor International
Discovery Fund:
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity®
International Discovery Fund

1.844601.103

AIGI-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.9%
	Shares		Value (000s)
Australia - 2.8%
Billabong International Ltd.	1,362,374		$ 12,625
Commonwealth Bank of Australia	1,708,703		80,426
Goodman Group unit	19,769,557		10,227
Macquarie Group Ltd.	1,173,702		52,058
National Australia Bank Ltd.	2,104,205		49,065
QBE Insurance Group Ltd.	824,709		16,714
Wesfarmers Ltd.	1,132,580		27,551
Westfield Group unit	2,381,694		26,620
TOTAL AUSTRALIA			275,286
Bailiwick of Jersey - 1.3%
Experian PLC	2,838,100		26,984
Informa PLC	13,289,260		69,638
Shire PLC	1,590,700		31,503
TOTAL BAILIWICK OF JERSEY			128,125
Belgium - 1.3%
Anheuser-Busch InBev SA NV	2,464,800		122,994
Bermuda - 0.7%
Aquarius Platinum Ltd. (United Kingdom) (a)	1,418,333		8,340
Huabao International Holdings Ltd.	37,860,000		38,523
Noble Group Ltd.	11,188,000		22,913
TOTAL BERMUDA			69,776
Brazil - 0.7%
Vivo Participacoes SA sponsored ADR (c)	2,363,500		66,154
British Virgin Islands - 0.3%
Playtech Ltd. (c)	3,758,978		30,846
Canada - 2.0%
InterOil Corp. (a)(c)	247,600		14,636
Niko Resources Ltd.	498,400		46,023
Open Text Corp. (a)	1,280,300		50,443
PetroBakken Energy Ltd. Class A	1,642,716		45,550
Petrobank Energy & Resources Ltd. (a)	813,500		40,192
TOTAL CANADA			196,844
Cayman Islands - 1.1%
BaWang International (Group) Holding Ltd.	45,097,000		26,080
Belle International Holdings Ltd.	15,991,000		18,187
Bosideng International Holdings Ltd.	73,892,000		14,657
Hengdeli Holdings Ltd.	64,680,000		21,493
Common Stocks - continued
	Shares		Value (000s)
Cayman Islands - continued
Peak Sport Products Co. Ltd.	9,636,000		$ 5,995
Trina Solar Ltd. ADR (a)(c)	870,400		19,088
TOTAL CAYMAN ISLANDS			105,500
China - 0.8%
Baidu.com, Inc. sponsored ADR (a)	59,800		24,620
NetEase.com, Inc. sponsored ADR (a)	263,453		8,641
Tencent Holdings Ltd.	553,400		10,350
ZTE Corp. (H Shares)	6,574,864		38,616
TOTAL CHINA			82,227
Cyprus - 0.0%
Aisi Realty Public Ltd. (a)(d)	21,633,000		1,288
Denmark - 1.8%
Carlsberg AS Series B	348,600		25,998
Novo Nordisk AS Series B	1,124,086		76,050
William Demant Holding AS (a)	927,000		72,343
TOTAL DENMARK			174,391
Finland - 0.3%
Nokian Tyres PLC	1,254,800		30,336
France - 9.5%
Accor SA	488,751		24,657
Air France KLM (Reg.) (a)	2,714,100		44,225
Alstom SA	172,836		11,540
Atos Origin SA (a)	940,057		43,718
AXA SA	2,521,066		51,909
BNP Paribas SA	918,730		65,629
Cap Gemini SA	240,000		10,657
CFAO SA	273,400		10,916
Compagnie Generale de Geophysique SA (a)	904,300		22,116
Credit Agricole SA	2,453,900		38,466
Danone	636,800		36,413
Iliad Group SA	509,521		56,471
LVMH Moet Hennessy - Louis Vuitton	272,400		29,678
Orpea	573,528		24,815
Pernod-Ricard SA (c)	388,925		31,283
PPR SA	347,600		42,387
Sanofi-Aventis	1,657,010		122,522
Schneider Electric SA	755,082		77,895
Societe Generale Series A	648,463		37,517
Common Stocks - continued
	Shares		Value (000s)
France - continued
Total SA Series B	1,912,766		$ 110,541
Unibail-Rodamco	118,400		25,654
TOTAL FRANCE			919,009
Germany - 6.7%
Aixtron AG	984,200		29,607
BASF AG	812,146		46,094
Bayerische Motoren Werke AG (BMW)	293,768		12,522
Daimler AG (Reg.)	594,462		27,232
Deutsche Bank AG	563,700		34,369
Deutsche Boerse AG	673,925		44,118
Deutsche Post AG	1,066,935		18,567
Deutsche Postbank AG (a)	831,400		25,313
E.ON AG	3,371,600		123,751
GEA Group AG	2,094,883		42,685
HeidelbergCement AG	1,286,567		77,529
MAN SE	657,572		43,962
Metro AG	253,900		13,849
Munich Re Group (Reg.)	115,877		17,309
Siemens AG (Reg.) (c)	1,022,981		91,158
TOTAL GERMANY			648,065
Greece - 0.5%
EFG Eurobank Ergasias SA	1,216,316		10,362
Hellenic Telecommunications Organization SA	1,372,559		18,804
National Bank of Greece SA (a)	865,600		18,921
TOTAL GREECE			48,087
Hong Kong - 0.9%
BYD Electronic International Co. Ltd. (a)	21,255,000		17,986
Henderson Land Development Co. Ltd.	3,738,000		23,664
Sinotruk Hong Kong Ltd.	8,596,000		10,042
Techtronic Industries Co. Ltd.	42,412,500		35,180
TOTAL HONG KONG			86,872
India - 0.3%
Reliance Industries Ltd.	903,416		20,491
Tata Steel Ltd.	1,078,866		13,311
TOTAL INDIA			33,802
Common Stocks - continued
	Shares		Value (000s)
Ireland - 0.8%
CRH PLC	1,532,507		$ 36,801
Paddy Power PLC (Ireland)	1,157,297		38,280
TOTAL IRELAND			75,081
Israel - 0.7%
Israel Chemicals Ltd.	1,513,500		20,036
Teva Pharmaceutical Industries Ltd. sponsored ADR	889,200		50,435
TOTAL ISRAEL			70,471
Italy - 1.6%
Fiat SpA (a)	5,422,600		67,953
Intesa Sanpaolo SpA	5,602,109		21,324
Mediaset SpA	3,230,200		24,519
Saipem SpA	1,233,843		39,945
TOTAL ITALY			153,741
Japan - 19.6%
ABC-Mart, Inc.	201,200		6,219
Asics Corp.	2,858,000		28,305
Canon, Inc.	1,929,350		75,410
Denso Corp.	1,627,300		48,042
Don Quijote Co. Ltd.	627,600		14,107
Fanuc Ltd.	215,600		20,683
Goldcrest Co. Ltd.	437,930		12,327
Honda Motor Co. Ltd.	1,648,300		55,856
Japan Tobacco, Inc.	20,380		73,826
JFE Holdings, Inc.	783,600		27,431
JSR Corp.	2,355,500		46,525
JTEKT Corp.	2,652,400		30,294
Keyence Corp.	200,100		46,174
Kirin Holdings Co. Ltd.	3,228,000		49,312
Konica Minolta Holdings, Inc.	2,333,000		23,880
Kubota Corp.	2,949,000		26,560
Mazda Motor Corp. (a)	13,652,000		37,053
Misumi Group, Inc.	825,300		14,390
Mitsubishi Corp.	2,042,800		49,492
Mitsubishi UFJ Financial Group, Inc.	20,372,800		104,834
Mitsui & Co. Ltd.	3,594,700		53,042
Mitsui Sumitomo Insurance Group Holdings, Inc.	550,700		13,818
Mizuho Financial Group, Inc.	5,753,000		11,153
NHK Spring Co. Ltd.	1,257,000		10,973
Nichi-iko Pharmaceutical Co. Ltd. (c)	595,800		18,217
Nissan Motor Co. Ltd. (a)	2,998,100		24,370
Common Stocks - continued
	Shares		Value (000s)
Japan - continued
Nitori Co. Ltd.	95,350		$ 7,225
Nomura Holdings, Inc.	4,188,300		31,311
NSK Ltd.	4,995,000		36,354
Omron Corp.	4,116,200		82,032
ORIX Corp.	1,108,220		83,482
Rakuten, Inc.	82,574		67,600
Ricoh Co. Ltd.	3,548,000		50,860
Sawai Pharmaceutical Co. Ltd. (c)	160,300		10,584
Shin-Etsu Chemical Co., Ltd.	1,160,100		60,787
SMC Corp.	190,600		23,078
SOFTBANK CORP.	3,098,200		78,974
Sony Corp.	1,270,700		42,378
Sumco Corp.	2,105,600		36,341
Sumitomo Mitsui Financial Group, Inc.	2,014,000		65,482
THK Co. Ltd.	1,760,000		34,919
Tokio Marine Holdings, Inc.	1,837,000		49,654
Tokyo Electron Ltd.	1,411,400		86,307
Toshiba Corp. (a)	9,890,000		54,451
Toyota Motor Corp.	1,894,100		72,850
TOTAL JAPAN			1,896,962
Korea (South) - 1.4%
Kia Motors Corp. (a)	912,890		15,400
NHN Corp. (a)	154,044		22,996
Samsung Electronics Co. Ltd.	92,093		62,301
Shinhan Financial Group Co. Ltd. (a)	1,073,070		37,561
TOTAL KOREA (SOUTH)			138,258
Luxembourg - 0.9%
ArcelorMittal SA (NY Shares) Class A (c)	1,738,100		67,230
Millicom International Cellular SA	282,400		20,141
TOTAL LUXEMBOURG			87,371
Netherlands - 3.9%
Akzo Nobel NV	361,986		21,547
ASML Holding NV (Netherlands)	1,450,700		45,559
Gemalto NV (a)(c)	851,198		33,790
ING Groep NV (Certificaten Van Aandelen) unit (a)	2,749,300		25,745
James Hardie Industries NV unit (a)	5,823,130		38,618
Koninklijke Philips Electronics NV	3,250,500		98,156
Common Stocks - continued
	Shares		Value (000s)
Netherlands - continued
Randstad Holdings NV (a)	2,088,334		$ 100,221
Royal DSM NV	280,000		13,050
TOTAL NETHERLANDS			376,686
Netherlands Antilles - 0.2%
Schlumberger Ltd.	300,900		19,095
Nigeria - 0.0%
Guaranty Trust Bank PLC GDR (Reg. S)	513,700		3,877
Norway - 0.9%
Aker Solutions ASA	1,426,600		19,038
DnB NOR ASA (a)	3,698,155		41,761
Pronova BioPharma ASA (a)	4,726,590		13,907
Sevan Marine ASA (a)	6,990,000		10,061
TOTAL NORWAY			84,767
Singapore - 0.3%
Keppel Corp. Ltd.	4,295,000		25,564
South Africa - 0.8%
African Rainbow Minerals Ltd.	1,243,800		27,413
AngloGold Ashanti Ltd. sponsored ADR	738,400		26,353
Naspers Ltd. Class N	563,100		19,946
TOTAL SOUTH AFRICA			73,712
Spain - 2.8%
Banco Bilbao Vizcaya Argentaria SA	2,777,937		42,344
Banco Santander SA	5,729,217		81,243
NH Hoteles SA (a)	1,468,400		7,245
Telefonica SA	5,658,472		135,547
TOTAL SPAIN			266,379
Sweden - 1.1%
Elekta AB (B Shares) (c)	2,525,000		59,233
Intrum Justitia AB	1,050,299		12,786
Modern Times Group MTG AB (B Shares)	632,500		29,004
Skandinaviska Enskilda Banken AB (A Shares) (a)	1,603,800		9,498
TOTAL SWEDEN			110,521
Switzerland - 8.1%
Actelion Ltd. (Reg.) (a)	651,115		34,447
Adecco SA (Reg.)	510,576		27,509
BB BIOTECH AG	354,261		24,341
Nestle SA (Reg.)	3,291,221		156,002
Common Stocks - continued
	Shares		Value (000s)
Switzerland - continued
Nobel Biocare Holding AG (Switzerland)	1,386,210		$ 40,772
Novartis AG (Reg.)	1,988,514		106,410
Partners Group Holding	176,756		21,931
Roche Holding AG (participation certificate)	815,749		136,853
Sonova Holding AG Class B	552,577		68,389
Swiss Reinsurance Co. (Reg.)	886,145		38,306
Syngenta AG (Switzerland)	54,269		13,887
The Swatch Group AG (Bearer)	79,320		20,734
UBS AG (For. Reg.) (a)	4,230,312		55,169
Zurich Financial Services AG (Reg.)	169,125		35,956
TOTAL SWITZERLAND			780,706
Taiwan - 0.7%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	5,828,200		24,523
MediaTek, Inc.	2,417,000		39,319
TOTAL TAIWAN			63,842
Thailand - 0.3%
Bangkok Bank Ltd. PCL (For. Reg.)	7,297,800		24,736
United Kingdom - 20.9%
Aberdeen Asset Management PLC	18,989,676		37,370
Aegis Group PLC	7,593,391		14,445
Anglo American PLC (United Kingdom) (a)	1,394,300		51,157
Babcock International Group PLC	2,715,100		24,244
Barclays PLC	20,015,493		85,544
BG Group PLC	5,025,900		92,392
BG Group PLC sponsored ADR (c)	207,400		19,085
BHP Billiton PLC	4,416,967		129,569
BP PLC	17,472,100		163,010
British Land Co. PLC	2,304,267		15,989
Carphone Warehouse Group PLC	16,777,953		50,911
Cookson Group PLC (a)	1,543,760		10,465
Hays PLC	8,621,981		15,155
HSBC Holdings PLC (United Kingdom) (Reg.)	20,381,914		218,195
IG Group Holdings PLC	5,301,405		34,067
Imperial Tobacco Group PLC	2,344,206		75,593
InterContinental Hotel Group PLC	2,118,900		30,302
International Personal Finance PLC	9,709,188		33,973
Johnson Matthey PLC	1,048,300		24,370
Kesa Electricals PLC	6,483,219		13,286
Lloyds TSB Group PLC	41,940,164		33,716
Man Group PLC	10,705,397		40,121
Common Stocks - continued
	Shares		Value (000s)
United Kingdom - continued
Misys PLC (a)	2,252,137		$ 7,692
Mothercare PLC	589,700		6,031
National Grid PLC	1,822,400		18,303
Prudential PLC	5,043,807		46,193
Reckitt Benckiser Group PLC	1,661,131		86,110
Rio Tinto PLC (Reg.)	2,940,544		143,392
Royal Dutch Shell PLC Class B	5,305,272		141,123
Schroders PLC	1,580,800		31,239
Segro PLC	4,129,500		20,511
Serco Group PLC	5,343,457		42,473
SSL International PLC	4,962,409		61,491
Standard Chartered PLC (United Kingdom)	1,815,710		41,821
Taylor Wimpey PLC (a)	44,868,072		27,560
Ultra Electronics Holdings PLC	614,667		12,433
Unilever PLC	1,444,400		43,921
Vodafone Group PLC	8,963,743		19,150
Wolseley PLC (a)	1,433,164		31,530
Xstrata PLC (a)	1,889,800		30,664
TOTAL UNITED KINGDOM			2,024,596
United States of America - 1.9%
AsiaInfo Holdings, Inc. (a)	502,800		12,017
Central European Distribution Corp. (a)	1,260,400		40,396
Cummins, Inc.	583,700		26,360
Regal-Beloit Corp.	697,800		33,076
Terra Industries, Inc.	768,600		24,288
Union Pacific Corp.	506,200		30,625
Visa, Inc. Class A	187,600		15,389
TOTAL UNITED STATES OF AMERICA			182,151
TOTAL COMMON STOCKS (Cost $9,052,266)		9,478,118
Nonconvertible Preferred Stocks - 0.7%
Germany - 0.3%
ProSiebenSat.1 Media AG	1,951,500		26,265
Italy - 0.4%
Intesa Sanpaolo SpA	15,194,902		44,565
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $76,706)		70,830
Money Market Funds - 3.0%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.17% (e)	80,771,901		$ 80,772
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	210,274,579		210,275
TOTAL MONEY MARKET FUNDS (Cost $291,047)		291,047
TOTAL INVESTMENT PORTFOLIO - 101.6% (Cost $9,420,019)			9,839,995
NET OTHER ASSETS - (1.6)%			(153,147)
NET ASSETS - 100%		$ 9,686,848

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Aisi Realty Public Ltd.	$ 1,243	$ -	$ -	$ -	$ 1,288

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 34
Fidelity Securities Lending Cash Central Fund	876
Total	$ 910

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 2,024,596	$ 19,085	$ 2,005,511	$ -
Japan	1,896,962	1,489,953	407,009	-
France	919,009	-	919,009	-
Switzerland	780,706	-	780,706	-
Germany	674,330	-	674,330	-
Netherlands	376,686	38,618	338,068	-
Australia	275,286	275,286	-	-
Spain	266,379	-	266,379	-
Italy	198,306	-	198,306	-
Other	2,136,688	1,280,474	856,214	-
Money Market Funds	291,047	291,047	-	-
Total Investments in Securities	$ 9,839,995	$ 3,394,463	$ 6,445,532	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $9,564,852,000. Net unrealized appreciation aggregated $275,143,000, of which $1,214,067,000 related to appreciated investment securities and $938,924,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® International Growth Fund

January 31, 2010

1.863101.102

IGF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%
	Shares		Value
Australia - 4.3%
CSL Ltd.	5,354		$ 147,615
Leighton Holdings Ltd.	6,919		233,712
MAp Group unit	44,815		110,165
OZ Minerals Ltd. (a)	100,235		94,394
QBE Insurance Group Ltd.	4,174		84,595
Woolworths Ltd.	14,808		338,610
Worleyparsons Ltd.	3,454		72,049
TOTAL AUSTRALIA			1,081,140
Austria - 0.4%
Andritz AG	1,800		100,529
Bailiwick of Jersey - 0.4%
Informa PLC	19,932		104,446
Belgium - 3.4%
Anheuser-Busch InBev SA NV	15,203		758,633
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,400		44
Umicore SA	3,693		113,816
TOTAL BELGIUM			872,493
Bermuda - 1.7%
Credicorp Ltd. (NY Shares)	700		52,241
Lazard Ltd. Class A	1,400		53,956
Ports Design Ltd.	65,500		176,743
Seadrill Ltd.	6,100		138,414
TOTAL BERMUDA			421,354
Brazil - 4.4%
Banco ABC Brasil SA	17,000		108,223
BM&F BOVESPA SA	31,200		209,710
BR Malls Participacoes SA (a)	6,000		65,220
Braskem SA Class A sponsored ADR (a)(c)	11,400		158,574
Fibria Celulose SA sponsored ADR (a)(c)	5,803		106,079
Iguatemi Empresa de Shopping Centers SA	2,100		31,728
Itau Unibanco Banco Multiplo SA ADR	4,430		84,879
MRV Engenharia e Participacoes SA	8,000		51,141
Multiplan Empreendimentos Imobiliarios SA	2,900		46,154
Petroleo Brasileiro SA - Petrobras sponsored ADR	3,200		129,824
Vale SA sponsored ADR	4,500		116,055
TOTAL BRAZIL			1,107,587
Canada - 3.0%
Agnico-Eagle Mines Ltd. (Canada)	4,200		212,298
Common Stocks - continued
	Shares		Value
Canada - continued
Fairfax Financial Holdings Ltd. (sub. vtg.)	240		$ 81,431
Goldcorp, Inc.	1,400		47,448
Niko Resources Ltd.	2,400		221,618
Open Text Corp. (a)	2,200		86,679
Petrobank Energy & Resources Ltd. (a)	2,000		98,812
TOTAL CANADA			748,286
Cayman Islands - 0.2%
Wynn Macau Ltd. (c)	44,800		56,895
Denmark - 1.7%
Novo Nordisk AS Series B sponsored ADR (c)	4,700		316,921
William Demant Holding AS (a)	1,500		117,060
TOTAL DENMARK			433,981
Finland - 1.8%
Metso Corp.	3,900		130,885
Nokian Tyres PLC (c)	8,300		200,663
Outotec OYJ	3,800		127,456
TOTAL FINLAND			459,004
France - 2.7%
Alstom SA	353		23,569
Danone	5,252		300,315
GDF Suez	1,365		51,529
Pernod-Ricard SA	918		73,839
Remy Cointreau SA	2,656		133,117
Veolia Environnement sponsored ADR (c)	2,800		91,784
TOTAL FRANCE			674,153
Germany - 3.7%
Aixtron AG	5,400		162,442
Bayer AG	2,687		183,024
Colonia Real Estate AG (a)	8,119		48,199
E.ON AG	3,637		133,493
Linde AG	2,260		247,049
Siemens AG sponsored ADR	1,900		169,309
TOTAL GERMANY			943,516
Hong Kong - 1.2%
Hong Kong Exchanges and Clearing Ltd.	17,100		291,389
Ireland - 0.7%
CRH PLC sponsored ADR (c)	6,900		169,671
Common Stocks - continued
	Shares		Value
Italy - 1.1%
Azimut Holdings SpA	9,800		$ 120,448
Fiat SpA (a)	12,900		161,656
TOTAL ITALY			282,104
Japan - 9.6%
Autobacs Seven Co. Ltd.	3,100		93,924
Daikokutenbussan Co. Ltd.	1,900		57,461
Denso Corp.	8,700		256,846
East Japan Railway Co.	2,700		181,555
Fanuc Ltd.	2,300		220,649
Japan Steel Works Ltd.	9,000		110,867
Keyence Corp.	720		166,142
Kirin Holdings Co. Ltd.	6,000		91,658
Kobayashi Pharmaceutical Co. Ltd.	2,900		115,814
Mitsubishi UFJ Financial Group, Inc.	8,800		45,283
Mitsui Sumitomo Insurance Group Holdings, Inc.	3,800		95,347
Nippon Thompson Co. Ltd.	20,000		113,881
Osaka Securities Exchange Co. Ltd.	24		133,466
Shin-Etsu Chemical Co., Ltd.	5,000		261,992
Shiseido Co. Ltd.	7,000		144,079
SHO-BOND Holdings Co. Ltd.	2,800		47,303
Sumitomo Mitsui Financial Group, Inc.	1,500		48,770
USS Co. Ltd.	1,670		101,380
Yamato Kogyo Co. Ltd.	4,600		145,537
TOTAL JAPAN			2,431,954
Korea (South) - 0.6%
NHN Corp. (a)	1,073		160,177
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A	3,100		119,908
Mexico - 1.6%
Cemex SA de CV sponsored ADR	13,328		122,484
Desarrolladora Homex SAB de CV sponsored ADR (a)(c)	2,800		85,820
Wal-Mart de Mexico SA de CV Series V	41,900		185,792
TOTAL MEXICO			394,096
Netherlands - 2.7%
Akzo Nobel NV	812		48,334
ASM International NV (NASDAQ) (a)	4,000		91,760
ASML Holding NV (NY Shares)	4,200		131,250
James Hardie Industries NV sponsored ADR (a)	3,100		102,889
Common Stocks - continued
	Shares		Value
Netherlands - continued
Koninklijke KPN NV	11,797		$ 195,334
QIAGEN NV (a)	5,800		126,208
TOTAL NETHERLANDS			695,775
Papua New Guinea - 0.4%
Lihir Gold Ltd. sponsored ADR	3,700		89,725
Peru - 0.3%
Compania de Minas Buenaventura SA sponsored ADR	2,100		66,108
Singapore - 1.6%
CapitaLand Ltd.	24,000		65,877
City Developments Ltd.	10,000		76,231
Singapore Exchange Ltd.	36,000		204,544
Wing Tai Holdings Ltd.	35,000		49,031
TOTAL SINGAPORE			395,683
South Africa - 2.5%
African Rainbow Minerals Ltd.	8,839		194,809
Clicks Group Ltd.	27,142		94,359
JSE Ltd.	12,900		95,617
Mr. Price Group Ltd.	23,500		108,489
MTN Group Ltd.	9,900		142,150
TOTAL SOUTH AFRICA			635,424
Spain - 3.4%
Inditex SA	3,102		195,253
Prosegur Compania de Seguridad SA (Reg.)	2,500		113,212
Telefonica SA sponsored ADR	7,800		558,480
TOTAL SPAIN			866,945
Sweden - 1.4%
H&M Hennes & Mauritz AB (B Shares)	4,958		291,757
Swedish Match Co.	3,600		75,381
TOTAL SWEDEN			367,138
Switzerland - 13.8%
ABB Ltd. sponsored ADR	15,000		270,450
Actelion Ltd. (Reg.) (a)	2,070		109,512
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	2,594		88,570
Credit Suisse Group sponsored ADR	8,900		384,302
Nestle SA (Reg.)	21,569		1,022,357
Novartis AG sponsored ADR (c)	4,400		235,532
Roche Holding AG (participation certificate)	5,161		865,825
Common Stocks - continued
	Shares		Value
Switzerland - continued
Sonova Holding AG Class B	1,836		$ 227,230
The Swatch Group AG (Bearer)	550		143,769
UBS AG:
(For. Reg.) (a)	4,123		53,770
(NY Shares) (a)	7,400		96,274
TOTAL SWITZERLAND			3,497,591
Turkey - 2.5%
Anadolu Efes Biracilik ve Malt Sanyii AS	10,800		112,549
Asya Katilim Bankasi AS (a)	49,000		129,624
Coca-Cola Icecek AS	15,000		125,255
Turkiye Garanti Bankasi AS	62,500		265,122
TOTAL TURKEY			632,550
United Kingdom - 18.9%
Babcock International Group PLC	22,300		199,126
BAE Systems PLC	25,000		140,206
Bellway PLC	6,200		73,044
BG Group PLC	27,079		497,800
BHP Billiton PLC ADR	14,300		837,694
Bovis Homes Group PLC (a)	6,900		43,612
Cobham PLC	20,200		74,740
GlaxoSmithKline PLC sponsored ADR	4,600		179,446
Great Portland Estates PLC	9,963		44,503
HSBC Holdings PLC (United Kingdom) (Reg.)	13,901		148,813
InterContinental Hotel Group PLC ADR	9,900		141,273
Johnson Matthey PLC	5,024		116,795
Reckitt Benckiser Group PLC	5,745		297,810
Rio Tinto PLC:
(Reg.)	3,435		167,503
sponsored ADR	2,350		455,947
Rolls-Royce Group PLC	16,369		124,720
Serco Group PLC	27,138		215,710
Shaftesbury PLC	17,933		108,581
Standard Chartered PLC (United Kingdom)	16,328		376,083
Tesco PLC	60,353		408,446
Unite Group PLC (a)	19,000		87,036
Victrex PLC	3,600		46,644
TOTAL UNITED KINGDOM			4,785,532
United States of America - 8.2%
Advanced Energy Industries, Inc. (a)	6,400		83,968
Allergan, Inc.	2,000		115,000
Common Stocks - continued
	Shares		Value
United States of America - continued
Autoliv, Inc.	3,700		$ 158,397
Berkshire Hathaway, Inc. Class B (a)	1,700		129,931
Cymer, Inc. (a)	1,500		47,055
ION Geophysical Corp. (a)	10,800		51,300
Juniper Networks, Inc. (a)	11,100		275,613
Mead Johnson Nutrition Co. Class A	2,300		104,029
Mohawk Industries, Inc. (a)	2,200		91,102
Monsanto Co.	1,200		91,056
Philip Morris International, Inc.	2,900		131,979
ResMed, Inc. (a)	2,300		117,622
Union Pacific Corp.	2,200		133,100
Visa, Inc. Class A	6,600		541,398
TOTAL UNITED STATES OF AMERICA			2,071,550
TOTAL COMMON STOCKS (Cost $23,680,499)		24,956,704
Money Market Funds - 5.0%
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) (Cost $1,276,600)	1,276,600		1,276,600
Cash Equivalents - 1.7%
	Maturity Amount
Investments in repurchase agreements in a joint trading account at 0.1%, dated 1/29/10 due 2/1/10 (Collateralized by U.S. Treasury Obligations) # (Cost $433,000)	$ 433,000		433,000
TOTAL INVESTMENT PORTFOLIO - 105.4% (Cost $25,390,099)			26,666,304
NET OTHER ASSETS - (5.4)%			(1,376,083)
NET ASSETS - 100%		$ 25,290,221

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$433,000 due 2/01/10 at 0.10%
BNP Paribas Securities Corp.	$ 64,181
Banc of America Securities LLC	47,026
Bank of America, NA	30,220
Barclays Capital, Inc.	63,310
Citigroup Global Markets, Inc.	47,026
Credit Suisse Securities (USA) LLC	87,184
ING Financial Markets LLC	31,351
J.P. Morgan Securities, Inc.	31,351
Mizuho Securities USA, Inc.	31,351
	$ 433,000

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 Securities Lending Cash Central Fund	$ 2,298

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 4,785,532	$ 1,614,360	$ 3,171,172	$ -
Switzerland	3,497,591	986,558	2,511,033	-
Japan	2,431,954	2,386,671	45,283	-
United States of America	2,071,550	2,071,550	-	-
Brazil	1,107,587	1,107,587	-	-
Australia	1,081,140	1,081,140	-	-
Germany	943,516	169,309	774,207	-
Belgium	872,493	-	872,493	-
Spain	866,945	558,480	308,465	-
Other	7,298,396	4,903,664	2,394,732	-
Money Market Funds	1,276,600	1,276,600	-	-
Cash Equivalents	433,000	-	433,000	-
Total Investments in Securities:	$ 26,666,304	$ 16,155,919	$ 10,510,385	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $25,983,439. Net unrealized appreciation aggregated $682,865, of which $2,364,535 related to appreciated investment securities and $1,681,670 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor
International Growth Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity ®
International Growth Fund

1.863093.102

AIGF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%
	Shares		Value
Australia - 4.3%
CSL Ltd.	5,354		$ 147,615
Leighton Holdings Ltd.	6,919		233,712
MAp Group unit	44,815		110,165
OZ Minerals Ltd. (a)	100,235		94,394
QBE Insurance Group Ltd.	4,174		84,595
Woolworths Ltd.	14,808		338,610
Worleyparsons Ltd.	3,454		72,049
TOTAL AUSTRALIA			1,081,140
Austria - 0.4%
Andritz AG	1,800		100,529
Bailiwick of Jersey - 0.4%
Informa PLC	19,932		104,446
Belgium - 3.4%
Anheuser-Busch InBev SA NV	15,203		758,633
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,400		44
Umicore SA	3,693		113,816
TOTAL BELGIUM			872,493
Bermuda - 1.7%
Credicorp Ltd. (NY Shares)	700		52,241
Lazard Ltd. Class A	1,400		53,956
Ports Design Ltd.	65,500		176,743
Seadrill Ltd.	6,100		138,414
TOTAL BERMUDA			421,354
Brazil - 4.4%
Banco ABC Brasil SA	17,000		108,223
BM&F BOVESPA SA	31,200		209,710
BR Malls Participacoes SA (a)	6,000		65,220
Braskem SA Class A sponsored ADR (a)(c)	11,400		158,574
Fibria Celulose SA sponsored ADR (a)(c)	5,803		106,079
Iguatemi Empresa de Shopping Centers SA	2,100		31,728
Itau Unibanco Banco Multiplo SA ADR	4,430		84,879
MRV Engenharia e Participacoes SA	8,000		51,141
Multiplan Empreendimentos Imobiliarios SA	2,900		46,154
Petroleo Brasileiro SA - Petrobras sponsored ADR	3,200		129,824
Vale SA sponsored ADR	4,500		116,055
TOTAL BRAZIL			1,107,587
Canada - 3.0%
Agnico-Eagle Mines Ltd. (Canada)	4,200		212,298
Common Stocks - continued
	Shares		Value
Canada - continued
Fairfax Financial Holdings Ltd. (sub. vtg.)	240		$ 81,431
Goldcorp, Inc.	1,400		47,448
Niko Resources Ltd.	2,400		221,618
Open Text Corp. (a)	2,200		86,679
Petrobank Energy & Resources Ltd. (a)	2,000		98,812
TOTAL CANADA			748,286
Cayman Islands - 0.2%
Wynn Macau Ltd. (c)	44,800		56,895
Denmark - 1.7%
Novo Nordisk AS Series B sponsored ADR (c)	4,700		316,921
William Demant Holding AS (a)	1,500		117,060
TOTAL DENMARK			433,981
Finland - 1.8%
Metso Corp.	3,900		130,885
Nokian Tyres PLC (c)	8,300		200,663
Outotec OYJ	3,800		127,456
TOTAL FINLAND			459,004
France - 2.7%
Alstom SA	353		23,569
Danone	5,252		300,315
GDF Suez	1,365		51,529
Pernod-Ricard SA	918		73,839
Remy Cointreau SA	2,656		133,117
Veolia Environnement sponsored ADR (c)	2,800		91,784
TOTAL FRANCE			674,153
Germany - 3.7%
Aixtron AG	5,400		162,442
Bayer AG	2,687		183,024
Colonia Real Estate AG (a)	8,119		48,199
E.ON AG	3,637		133,493
Linde AG	2,260		247,049
Siemens AG sponsored ADR	1,900		169,309
TOTAL GERMANY			943,516
Hong Kong - 1.2%
Hong Kong Exchanges and Clearing Ltd.	17,100		291,389
Ireland - 0.7%
CRH PLC sponsored ADR (c)	6,900		169,671
Common Stocks - continued
	Shares		Value
Italy - 1.1%
Azimut Holdings SpA	9,800		$ 120,448
Fiat SpA (a)	12,900		161,656
TOTAL ITALY			282,104
Japan - 9.6%
Autobacs Seven Co. Ltd.	3,100		93,924
Daikokutenbussan Co. Ltd.	1,900		57,461
Denso Corp.	8,700		256,846
East Japan Railway Co.	2,700		181,555
Fanuc Ltd.	2,300		220,649
Japan Steel Works Ltd.	9,000		110,867
Keyence Corp.	720		166,142
Kirin Holdings Co. Ltd.	6,000		91,658
Kobayashi Pharmaceutical Co. Ltd.	2,900		115,814
Mitsubishi UFJ Financial Group, Inc.	8,800		45,283
Mitsui Sumitomo Insurance Group Holdings, Inc.	3,800		95,347
Nippon Thompson Co. Ltd.	20,000		113,881
Osaka Securities Exchange Co. Ltd.	24		133,466
Shin-Etsu Chemical Co., Ltd.	5,000		261,992
Shiseido Co. Ltd.	7,000		144,079
SHO-BOND Holdings Co. Ltd.	2,800		47,303
Sumitomo Mitsui Financial Group, Inc.	1,500		48,770
USS Co. Ltd.	1,670		101,380
Yamato Kogyo Co. Ltd.	4,600		145,537
TOTAL JAPAN			2,431,954
Korea (South) - 0.6%
NHN Corp. (a)	1,073		160,177
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A	3,100		119,908
Mexico - 1.6%
Cemex SA de CV sponsored ADR	13,328		122,484
Desarrolladora Homex SAB de CV sponsored ADR (a)(c)	2,800		85,820
Wal-Mart de Mexico SA de CV Series V	41,900		185,792
TOTAL MEXICO			394,096
Netherlands - 2.7%
Akzo Nobel NV	812		48,334
ASM International NV (NASDAQ) (a)	4,000		91,760
ASML Holding NV (NY Shares)	4,200		131,250
James Hardie Industries NV sponsored ADR (a)	3,100		102,889
Common Stocks - continued
	Shares		Value
Netherlands - continued
Koninklijke KPN NV	11,797		$ 195,334
QIAGEN NV (a)	5,800		126,208
TOTAL NETHERLANDS			695,775
Papua New Guinea - 0.4%
Lihir Gold Ltd. sponsored ADR	3,700		89,725
Peru - 0.3%
Compania de Minas Buenaventura SA sponsored ADR	2,100		66,108
Singapore - 1.6%
CapitaLand Ltd.	24,000		65,877
City Developments Ltd.	10,000		76,231
Singapore Exchange Ltd.	36,000		204,544
Wing Tai Holdings Ltd.	35,000		49,031
TOTAL SINGAPORE			395,683
South Africa - 2.5%
African Rainbow Minerals Ltd.	8,839		194,809
Clicks Group Ltd.	27,142		94,359
JSE Ltd.	12,900		95,617
Mr. Price Group Ltd.	23,500		108,489
MTN Group Ltd.	9,900		142,150
TOTAL SOUTH AFRICA			635,424
Spain - 3.4%
Inditex SA	3,102		195,253
Prosegur Compania de Seguridad SA (Reg.)	2,500		113,212
Telefonica SA sponsored ADR	7,800		558,480
TOTAL SPAIN			866,945
Sweden - 1.4%
H&M Hennes & Mauritz AB (B Shares)	4,958		291,757
Swedish Match Co.	3,600		75,381
TOTAL SWEDEN			367,138
Switzerland - 13.8%
ABB Ltd. sponsored ADR	15,000		270,450
Actelion Ltd. (Reg.) (a)	2,070		109,512
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	2,594		88,570
Credit Suisse Group sponsored ADR	8,900		384,302
Nestle SA (Reg.)	21,569		1,022,357
Novartis AG sponsored ADR (c)	4,400		235,532
Roche Holding AG (participation certificate)	5,161		865,825
Common Stocks - continued
	Shares		Value
Switzerland - continued
Sonova Holding AG Class B	1,836		$ 227,230
The Swatch Group AG (Bearer)	550		143,769
UBS AG:
(For. Reg.) (a)	4,123		53,770
(NY Shares) (a)	7,400		96,274
TOTAL SWITZERLAND			3,497,591
Turkey - 2.5%
Anadolu Efes Biracilik ve Malt Sanyii AS	10,800		112,549
Asya Katilim Bankasi AS (a)	49,000		129,624
Coca-Cola Icecek AS	15,000		125,255
Turkiye Garanti Bankasi AS	62,500		265,122
TOTAL TURKEY			632,550
United Kingdom - 18.9%
Babcock International Group PLC	22,300		199,126
BAE Systems PLC	25,000		140,206
Bellway PLC	6,200		73,044
BG Group PLC	27,079		497,800
BHP Billiton PLC ADR	14,300		837,694
Bovis Homes Group PLC (a)	6,900		43,612
Cobham PLC	20,200		74,740
GlaxoSmithKline PLC sponsored ADR	4,600		179,446
Great Portland Estates PLC	9,963		44,503
HSBC Holdings PLC (United Kingdom) (Reg.)	13,901		148,813
InterContinental Hotel Group PLC ADR	9,900		141,273
Johnson Matthey PLC	5,024		116,795
Reckitt Benckiser Group PLC	5,745		297,810
Rio Tinto PLC:
(Reg.)	3,435		167,503
sponsored ADR	2,350		455,947
Rolls-Royce Group PLC	16,369		124,720
Serco Group PLC	27,138		215,710
Shaftesbury PLC	17,933		108,581
Standard Chartered PLC (United Kingdom)	16,328		376,083
Tesco PLC	60,353		408,446
Unite Group PLC (a)	19,000		87,036
Victrex PLC	3,600		46,644
TOTAL UNITED KINGDOM			4,785,532
United States of America - 8.2%
Advanced Energy Industries, Inc. (a)	6,400		83,968
Allergan, Inc.	2,000		115,000
Common Stocks - continued
	Shares		Value
United States of America - continued
Autoliv, Inc.	3,700		$ 158,397
Berkshire Hathaway, Inc. Class B (a)	1,700		129,931
Cymer, Inc. (a)	1,500		47,055
ION Geophysical Corp. (a)	10,800		51,300
Juniper Networks, Inc. (a)	11,100		275,613
Mead Johnson Nutrition Co. Class A	2,300		104,029
Mohawk Industries, Inc. (a)	2,200		91,102
Monsanto Co.	1,200		91,056
Philip Morris International, Inc.	2,900		131,979
ResMed, Inc. (a)	2,300		117,622
Union Pacific Corp.	2,200		133,100
Visa, Inc. Class A	6,600		541,398
TOTAL UNITED STATES OF AMERICA			2,071,550
TOTAL COMMON STOCKS (Cost $23,680,499)		24,956,704
Money Market Funds - 5.0%
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d) (Cost $1,276,600)	1,276,600		1,276,600
Cash Equivalents - 1.7%
	Maturity Amount
Investments in repurchase agreements in a joint trading account at 0.1%, dated 1/29/10 due 2/1/10 (Collateralized by U.S. Treasury Obligations) # (Cost $433,000)	$ 433,000		433,000
TOTAL INVESTMENT PORTFOLIO - 105.4% (Cost $25,390,099)			26,666,304
NET OTHER ASSETS - (5.4)%			(1,376,083)
NET ASSETS - 100%		$ 25,290,221

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$433,000 due 2/01/10 at 0.10%
BNP Paribas Securities Corp.	$ 64,181
Banc of America Securities LLC	47,026
Bank of America, NA	30,220
Barclays Capital, Inc.	63,310
Citigroup Global Markets, Inc.	47,026
Credit Suisse Securities (USA) LLC	87,184
ING Financial Markets LLC	31,351
J.P. Morgan Securities, Inc.	31,351
Mizuho Securities USA, Inc.	31,351
	$ 433,000

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 Securities Lending Cash Central Fund	$ 2,298

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 4,785,532	$ 1,614,360	$ 3,171,172	$ -
Switzerland	3,497,591	986,558	2,511,033	-
Japan	2,431,954	2,386,671	45,283	-
United States of America	2,071,550	2,071,550	-	-
Brazil	1,107,587	1,107,587	-	-
Australia	1,081,140	1,081,140	-	-
Germany	943,516	169,309	774,207	-
Belgium	872,493	-	872,493	-
Spain	866,945	558,480	308,465	-
Other	7,298,396	4,903,664	2,394,732	-
Money Market Funds	1,276,600	1,276,600	-	-
Cash Equivalents	433,000	-	433,000	-
Total Investments in Securities:	$ 26,666,304	$ 16,155,919	$ 10,510,385	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $25,983,439. Net unrealized appreciation aggregated $682,865, of which $2,364,535 related to appreciated investment securities and $1,681,670 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® International Small Cap Fund

January 31, 2010

1.813082.105

ISC-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.7%
	Shares		Value
Australia - 9.2%
Allied Gold Ltd. (a)	12,900,640		$ 3,479,254
Allied Gold Ltd. (United Kingdom) (a)	5,115,200		1,431,155
Aristocrat Leisure Ltd.	258,059		905,909
Austal Ltd.	1,095,023		2,333,541
Australian Worldwide Exploration Ltd.	783,251		1,814,585
BlueScope Steel Ltd.	733,875		1,700,194
carsales.com Ltd.	141,494		564,273
Centamin Egypt Ltd. (a)	2,368,514		4,042,902
Charter Hall Group unit	1,834,707		1,070,744
Coal of Africa Ltd. (a)	2,661,019		5,029,093
David Jones Ltd.	228,220		960,585
Downer Edi Ltd.	542,143		3,983,730
DUET Group	524,820		837,650
Energy Resources of Australia Ltd.	86,246		1,597,710
Goodman Group unit	11,859,128		6,134,564
Incitec Pivot Ltd.	229,712		684,524
Iress Market Technology Ltd. (c)	167,080		1,159,763
JB Hi-Fi Ltd.	89,504		1,596,333
Lynas Corp. Ltd. (a)	658,365		323,098
MacArthur Coal Ltd.	123,950		1,035,746
MAp Group unit	463,775		1,140,059
Mineral Deposits Ltd. (a)	5,680,000		4,568,222
Mineral Resources Ltd.	178,103		1,053,592
Monto Minerals Ltd. (a)	273,551		2,903
Navitas Ltd.	1,322,105		5,237,440
Paladin Energy Ltd. (a)	183,529		590,719
Ramsay Health Care Ltd.	314,643		3,191,219
SAI Global Ltd.	1,368,244		4,706,393
SEEK Ltd.	1,109,183		6,365,360
Tianshan Goldfields Ltd. (a)	944,712		104,420
Wotif.com Holdings Ltd.	220,716		1,299,820
TOTAL AUSTRALIA			68,945,500
Bailiwick of Guernsey - 0.3%
Stobart Group Ltd.	1,196,500		2,429,021
Bailiwick of Jersey - 0.3%
ACP Capital Ltd.	532,925		160,719
Camco International Ltd. (a)	893,402		226,969
Renewable Energy Generation Ltd.	1,646,700		1,651,628
TOTAL BAILIWICK OF JERSEY			2,039,316
Common Stocks - continued
	Shares		Value
Belgium - 0.4%
Barco NV (a)	24,300		$ 995,672
EVS Broadcast Equipment SA	7,700		495,791
Hansen Transmissions International NV (a)	1,314,300		1,864,474
TOTAL BELGIUM			3,355,937
Bermuda - 2.2%
Aquarius Platinum Ltd. (Australia) (a)	445,017		2,628,622
China Animal Healthcare Ltd.	2,911,000		517,511
China LotSynergy Holdings Ltd. (a)	6,120,000		299,538
China Water Affairs Group Ltd.	1,134,000		460,088
Luk Fook Holdings International Ltd.	896,000		722,436
Mingyuan Medicare Development Co. Ltd. (a)	1,640,000		261,929
Noble Group Ltd.	463,000		948,224
Oakley Capital Investments Ltd. (a)	1,210,200		1,932,344
Peace Mark Holdings Ltd. (a)	788,000		1
Seadrill Ltd.	114,300		2,593,558
Vtech Holdings Ltd.	617,000		6,115,206
Zambezi Resources Ltd. CDI (a)	2,184,593		9,659
TOTAL BERMUDA			16,489,116
British Virgin Islands - 0.9%
Albidon Ltd. unit (a)	1,469,000		44,145
Kalahari Energy (a)(h)	1,451,000		253,925
Playtech Ltd. (c)	788,407		6,469,607
TOTAL BRITISH VIRGIN ISLANDS			6,767,677
Canada - 1.9%
AirSea Lines (a)(h)	1,893,338		26
AirSea Lines warrants 8/4/11 (a)(h)	1,862,300		26
Equinox Minerals Ltd. unit (a)	517,196		1,705,843
European Goldfields Ltd. (a)	827,700		4,203,134
Pacific Rubiales Energy Corp. (a)	202,900		2,709,634
Platmin Ltd. (a)	3,524,100		4,526,105
Rock Well Petroleum, Inc. (a)(h)	770,400		7
SouthGobi Energy Resources Ltd.	24,000		346,216
Starfield Resources, Inc. (a)	4,328,075		384,520
TOTAL CANADA			13,875,511
Cayman Islands - 2.5%
Ajisen (China) Holdings Ltd.	205,000		188,261
Bosideng International Holdings Ltd.	2,152,000		426,855
China Dongxiang Group Co. Ltd.	1,163,000		754,966
China High Precision Automation Group Ltd. (a)	504,000		369,369
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
China Shineway Pharmaceutical Group Ltd.	367,000		$ 642,869
CNinsure, Inc. ADR	12,300		228,903
Ctrip.com International Ltd. sponsored ADR (a)	31,600		988,764
Daphne International Holdings Ltd.	2,616,000		1,987,957
Eagle Nice (International) Holdings Ltd.	4,832,000		1,972,893
Hengdeli Holdings Ltd.	740,000		245,906
JA Solar Holdings Co. Ltd. ADR (a)	93,089		400,283
Kingboard Chemical Holdings Ltd.	212,000		909,279
Kingboard Chemical Holdings Ltd. rights (a)	14,058		0
Kingboard Laminates Holdings Ltd.	1,073,500		760,470
Kingdee International Software Group Co. Ltd.	2,774,000		686,001
Marwyn Value Investors II Ltd. (a)	1,846,800		1,802,782
Orchid Developments Group Ltd. (a)	1,211,000		701,593
Pacific Textile Holdings Ltd.	610,000		432,911
Perfect World Co. Ltd. sponsored ADR Class B (a)	11,000		410,190
Regent Pacific Group Ltd.	8,780,000		243,137
Wasion Group Holdings Ltd.	430,000		297,967
Wuxi Pharmatech Cayman, Inc. sponsored ADR (a)	24,400		366,976
Xingda International Holdings Ltd.	3,325,000		1,550,306
Xinyi Glass Holdings Co. Ltd.	1,260,000		1,002,943
Yip's Chemical Holdings Ltd.	2,112,000		1,683,844
TOTAL CAYMAN ISLANDS			19,055,425
China - 1.1%
51job, Inc. sponsored ADR (a)	37,000		591,630
Baidu.com, Inc. sponsored ADR (a)	1,700		699,907
Dalian Port (PDA) Co. Ltd. (H Shares)	1,734,000		699,054
Global Bio-Chem Technology Group Co. Ltd.	1,482,000		414,214
Minth Group Ltd.	1,586,000		2,008,047
Shenzhou International Group Holdings Ltd.	1,219,000		1,544,956
Weiqiao Textile Co. Ltd. (H Shares)	2,766,500		1,856,460
Zhejiang Expressway Co. Ltd. (H Shares)	252,000		220,063
TOTAL CHINA			8,034,331
Cyprus - 0.9%
Buried Hill Energy (Cyprus) PCL (a)(h)	1,947,000		4,380,750
Mirland Development Corp. PLC (a)	758,000		2,193,517
TOTAL CYPRUS			6,574,267
Common Stocks - continued
	Shares		Value
Denmark - 1.0%
DSV de Sammensluttede Vognmaend AS (a)	239,000		$ 4,240,293
Vestas Wind Systems AS (a)	61,909		3,256,077
TOTAL DENMARK			7,496,370
Finland - 1.0%
Nokian Tyres PLC (c)	190,740		4,611,373
Talvivaara Mining Co. PLC (a)(c)	460,800		2,582,089
TOTAL FINLAND			7,193,462
France - 7.1%
Altamir Amboise (a)	532,800		4,182,922
April Group	72,100		2,209,200
Audika SA	85,200		3,121,410
Delachaux SA	59,387		3,140,190
Devoteam SA	40,400		1,040,576
Faiveley SA	48,223		3,866,429
Iliad Group SA	44,967		4,983,721
Ipsos SA	71,200		2,235,807
Laurent-Perrier Group	14,360		1,232,151
LeGuide.com SA (a)	82,800		2,043,635
Maisons France Confort (c)	87,444		3,195,853
Meetic (a)	189,000		5,278,221
Nexity	79,800		2,901,969
Sartorius Stedim Biotech	53,500		2,264,297
SeLoger.com (a)	188,800		6,580,415
Sopra Group SA	29,300		2,166,488
SR Teleperformance SA	93,500		3,051,739
TOTAL FRANCE			53,495,023
Germany - 8.6%
CENTROTEC Sustainable AG (a)	29,966		502,080
CTS Eventim AG	111,318		5,308,038
Delticom AG	136,500		5,478,033
Drillisch AG (a)	663,300		4,278,318
ElringKlinger AG	183,200		4,072,086
Freenet AG (a)	154,200		1,952,893
GEA Group AG	146,680		2,988,726
GFK AG	5,996		221,233
HeidelbergCement AG	129,366		7,795,611
KROMI Logistik AG (a)	114,200		1,165,032
Lanxess AG	117,550		4,448,072
Pfleiderer AG (a)	211,600		1,873,765
Rational AG	18,820		3,057,420
Common Stocks - continued
	Shares		Value
Germany - continued
SMA Solar Technology AG	30,100		$ 3,522,402
Software AG (Bearer)	72,800		8,275,756
STRATEC Biomedical Systems AG	78,110		2,725,001
United Internet AG (a)	221,090		3,243,217
Wacker Chemie AG	24,700		3,230,532
TOTAL GERMANY			64,138,215
Greece - 0.3%
Babis Vovos International Technical SA (a)	149,200		808,595
Jumbo SA	145,300		1,525,390
TOTAL GREECE			2,333,985
Hong Kong - 1.6%
Dah Sing Financial Holdings Ltd. (a)	110,800		537,306
Galaxy Entertainment Group Ltd. (a)	2,253,000		856,053
I.T Ltd. (a)	2,280,000		384,701
Inspur International Ltd. (c)	4,210,000		601,897
REXCAPITAL Financial Holdings Ltd.	12,125,000		1,452,386
Sa Sa International Holdings Ltd.	1,336,000		863,828
Shun Tak Holdings Ltd.	1,690,000		983,881
Singamas Container Holdings Ltd. (a)	6,148,000		958,157
Techtronic Industries Co. Ltd.	3,510,000		2,911,456
Texwinca Holdings Ltd.	2,148,000		1,897,910
Tian An China Investments Co. Ltd.	669,000		419,636
TOTAL HONG KONG			11,867,211
India - 0.2%
Educomp Solutions Ltd.	28,796		439,791
Geodesic Ltd.	256,340		717,474
TOTAL INDIA			1,157,265
Indonesia - 0.2%
PT Ciputra Development Tbk (a)	14,603,500		1,062,074
PT Kalbe Farma Tbk	4,207,500		693,001
TOTAL INDONESIA			1,755,075
Ireland - 0.2%
Petroceltic International PLC (a)	8,825,100		1,681,474
Vimio PLC (a)	867,300		14
TOTAL IRELAND			1,681,488
Isle of Man - 0.9%
Exillon Energy PLC	1,317,000		3,762,761
Common Stocks - continued
	Shares		Value
Isle of Man - continued
IBS Group Holding Ltd. GDR (Reg. S) (a)	317,700		$ 3,087,986
Nviro Cleantech PLC (a)	217,500		212,382
TOTAL ISLE OF MAN			7,063,129
Italy - 0.7%
Seldovia Native Association, Inc. (SNAI) (a)	300,990		1,181,353
Tod's SpA (c)	58,003		3,814,917
TOTAL ITALY			4,996,270
Japan - 24.6%
ABC-Mart, Inc.	60,600		1,872,981
Aioi Insurance Co. Ltd.	263,000		1,252,797
Air Water, Inc.	239,000		2,734,984
Airport Facilities Co. Ltd.	168,800		895,704
Alpine Electronics, Inc. (a)	32,000		368,672
Aozora Bank Ltd. (a)	1,239,000		1,578,431
ARCS Co. Ltd.	116,000		1,581,877
Arnest One Corp.	44,100		465,085
Asahi Intecc Co. Ltd.	140,300		2,514,738
ASKUL Corp.	96,000		1,757,926
Bank of Kyoto Ltd.	184,000		1,524,670
Benesse Corp.	22,500		947,158
Central Glass Co. Ltd.	550,000		2,272,626
Chiba Bank Ltd.	308,000		1,862,944
Chiyoda Corp.	310,000		2,833,167
Create SD Holdings Co. Ltd.	48,200		839,375
Credit Saison Co. Ltd.	166,100		2,068,200
Culture Convenience Club Co. Ltd. (c)	307,100		1,476,475
Dai-ichi Seiko Co. Ltd.	24,100		1,069,242
Daicel Chemical Industries Ltd.	470,000		2,832,392
Daihen Corp.	481,000		1,955,544
Daiseki Co. Ltd. (c)	61,030		1,285,910
Don Quijote Co. Ltd.	80,100		1,800,409
eAccess Ltd.	1,489		1,055,677
Ebara Corp. (a)	253,000		1,065,027
EPS Co. Ltd.	260		973,524
Exedy Corp.	110,500		2,449,435
Ferrotec Corp.	145,900		1,697,075
FOI Corp.	65,600		590,814
FreeBit Co., Ltd.	195		960,203
Fuji Oil Co. Ltd.	174,400		2,496,120
Furukawa Electric Co. Ltd.	422,000		2,052,265
Common Stocks - continued
	Shares		Value
Japan - continued
Furuya Metal Co. Ltd.	16,700		$ 1,850,005
GREE, Inc.	39,300		2,289,997
Hitachi Transport System Ltd.	123,900		1,645,686
Hoshizaki Electric Co. Ltd.	67,500		947,408
Ibiden Co. Ltd.	81,000		2,781,655
Inpex Corp.	200		1,462,280
Isetan Mitsukoshi Holdings Ltd.	119,500		1,126,559
Isuzu Motors Ltd. (a)	266,000		565,769
Itochu Corp.	302,000		2,368,627
Japan Communications, Inc. (a)(c)	3,083		402,665
Japan Wind Development Co. Ltd. (c)	276		721,874
JP-Holdings, Inc.	73,700		1,131,585
JTEKT Corp.	141,100		1,611,544
Kakaku.com, Inc.	423		1,560,419
Kandenko Co. Ltd.	193,000		1,231,505
Kansai Paint Co. Ltd.	117,000		951,346
Kenedix Realty Investment Corp.	602		1,707,234
Kenedix, Inc. (a)	2,223		688,793
Kimoto Co. Ltd.	96,500		970,666
KOMERI Co. Ltd.	86,400		2,210,967
Kuraray Co. Ltd.	191,500		2,235,970
Maeda Corp.	210,000		574,609
Marui Group Co. Ltd.	116,000		719,619
Maruwa Ceramic Co. Ltd.	24,000		549,285
McDonald's Holdings Co. (Japan) Ltd.	92,900		1,889,491
Meiko Electronics Co. Ltd. (c)	102,100		2,499,623
Message Co. Ltd.	923		2,053,156
Mitsubishi Materials Corp. (a)	534,000		1,390,163
Mitsubishi UFJ Lease & Finance Co. Ltd.	79,770		2,757,089
Mitsumi Electric Co. Ltd.	64,600		1,127,119
mixi, Inc. (a)(c)	280		1,885,898
Mobilephone Telecommunications International Ltd. (c)	1,269		2,727,218
Nabtesco Corp.	226,000		2,668,838
NGK Insulators Ltd.	92,000		2,007,754
NHK Spring Co. Ltd.	166,000		1,449,075
Nichicon Corp.	230,300		2,625,221
Nihon M&A Center, Inc. (c)	549		2,159,023
Nihon Nohyaku Co. Ltd. (c)	233,000		1,233,787
Nippon Electric Glass Co. Ltd.	67,000		947,070
Nippon Signal Co. Ltd.	259,000		2,484,701
Nissay Dowa General Insurance Co. Ltd.	243,000		1,162,911
Nissin Kogyo Co. Ltd.	60,900		943,825
Common Stocks - continued
	Shares		Value
Japan - continued
NOF Corp.	237,000		$ 968,794
Nomura Real Estate Residential Fund, Inc.	386		1,481,655
NTT Urban Development Co.	1,171		862,651
Otsuka Corp.	29,900		1,636,269
Park24 Co. Ltd.	121,100		1,277,137
Pigeon Corp.	30,500		1,197,768
Point, Inc.	23,550		1,351,379
Risa Partners, Inc. (c)	1,678		1,001,930
Rohto Pharmaceutical Co. Ltd.	224,000		2,727,107
Roland DG Corp.	13,300		179,750
Sankyu, Inc.	289,000		1,379,849
Santen Pharmaceutical Co. Ltd.	65,900		2,074,021
Sega Sammy Holdings, Inc.	80,200		904,438
Sekisui Chemical Co. Ltd.	338,000		2,287,781
Seven Bank Ltd.	711		1,485,483
Shimadzu Corp.	263,000		1,745,176
Shin Nippon Biomedical Laboratories Ltd. (c)	130,200		879,827
Shin-Kobe Electric Machinery Co. Ltd. (c)	224,000		2,275,485
Shizuoka Gas Co. Ltd.	88,000		584,912
SHO-BOND Holdings Co. Ltd.	128,700		2,174,227
SKY Perfect JSAT Holdings, Inc.	1,759		753,133
So-net M3, Inc. (c)	480		1,591,492
SRI Sports Ltd.	1,028		986,206
Stanley Electric Co. Ltd.	113,400		2,173,280
Start Today Co. Ltd.	602		1,136,377
Sumitomo Trust & Banking Co. Ltd.	344,000		1,916,827
Sysmex Corp.	46,700		2,617,724
Taisho Pharmaceutical Co. Ltd.	54,000		942,173
Takata Corp.	95,800		2,114,031
Takeei Corp.	87,100		1,254,348
The Suruga Bank Ltd.	221,000		1,956,120
Tocalo Co. Ltd.	67,000		1,162,313
Tokyo Ohka Kogyo Co. Ltd.	60,700		1,057,055
Toto Ltd.	277,000		1,690,783
Towa Corp. (a)(c)	243,300		1,991,788
Toyo Suisan Kaisha Ltd.	59,000		1,558,170
Toyo Tanso Co. Ltd. (c)	37,000		1,946,937
Toyota Boshoku Corp.	69,800		1,534,873
Ube Industries Ltd.	664,000		1,721,236
Unicharm Petcare Corp.	76,400		2,551,745
Weathernews, Inc. (c)	34,500		402,060
Works Applications Co. Ltd. (c)	2,043		1,262,871
Common Stocks - continued
	Shares		Value
Japan - continued
Yamatake Corp.	118,700		$ 2,607,534
Yamato Kogyo Co. Ltd.	59,000		1,866,667
TOTAL JAPAN			184,720,858
Korea (South) - 0.9%
Daou Technology, Inc.	197,150		1,272,484
Hyosung Corp.	11,929		836,852
Hyundai Industrial Development & Construction Co.	8,810		273,293
Interpark Corp. (a)	98,412		569,803
Jusung Engineering Co. Ltd. (a)	72,738		950,885
KC Tech Co. Ltd.	60,790		242,604
MNTECH Co. Ltd.	38,900		429,649
Power Logics Co. Ltd. (a)	37,687		279,344
SFA Engineering Corp.	11,363		323,565
Sodiff Advanced Materials Co. Ltd.	6,601		472,761
The Basic House Co. Ltd. (a)	118,950		740,037
TK Corp.	17,649		467,533
TOTAL KOREA (SOUTH)			6,858,810
Luxembourg - 0.3%
GlobeOp Financial Services SA	635,085		2,167,298
Malaysia - 0.1%
JobStreet Corp. Bhd	1,289,000		562,445
Netherlands - 3.4%
Brunel International NV	109,900		4,053,924
Gemalto NV (a)	177,502		7,046,388
James Hardie Industries NV unit (a)	216,564		1,436,225
QIAGEN NV (a)	258,700		5,623,828
SMARTRAC NV (a)	96,200		2,258,151
Wavin NV	2,109,000		4,774,386
TOTAL NETHERLANDS			25,192,902
Norway - 2.1%
IMAREX NOS ASA (a)	145,200		1,395,420
Petroleum Geo-Services ASA (a)	200,300		2,492,512
Renewable Energy Corp. AS (a)(c)	711,695		4,127,050
Schibsted ASA (B Shares) (a)	274,200		6,010,650
Sevan Marine ASA (a)	1,000,000		1,439,368
TOTAL NORWAY			15,465,000
Papua New Guinea - 0.0%
Lihir Gold Ltd.	90,006		220,458
Common Stocks - continued
	Shares		Value
Singapore - 1.0%
Goodpack Ltd.	1,410,000		$ 1,233,280
Hyflux Ltd.	440,000		1,035,662
Oceanus Group Ltd. (a)	2,071,000		530,176
Parkway Holdings Ltd. (a)	726,000		1,393,920
Raffles Medical Group Ltd.	1,096,000		1,075,541
Suntec (REIT)	948,000		876,373
Wing Tai Holdings Ltd.	1,023,000		1,433,109
TOTAL SINGAPORE			7,578,061
Spain - 0.9%
EDP Renovaveis SA (a)	332,408		2,864,723
Vueling Airlines SA (a)	229,100		3,702,427
TOTAL SPAIN			6,567,150
Sweden - 1.1%
Countermine Technologies AB warrants 3/1/10 (a)	1,085,197		1
Elekta AB (B Shares)	244,000		5,723,905
Modern Times Group MTG AB (B Shares)	43,900		2,013,104
XCounter AB (a)	1,108,000		136,298
TOTAL SWEDEN			7,873,308
Switzerland - 1.3%
Basilea Pharmaceutica AG (a)	9,770		651,932
Lonza Group AG	37,493		2,666,197
Panalpina Welttransport Holding AG	50,690		3,524,808
VZ Holding AG	42,040		3,160,747
TOTAL SWITZERLAND			10,003,684
United Kingdom - 16.9%
Abcam PLC	255,600		4,455,991
Aberdeen Asset Management PLC	1,914,844		3,768,237
Afren PLC (a)	1,547,867		2,226,208
Antisoma PLC (a)	2,154,900		1,144,191
Asset Realisation Co. PLC (a)	340,000		5
Aurelian Oil & Gas PLC (a)(e)	4,640,000		2,373,379
Avanti Communications Group PLC (a)	640,000		5,015,752
Blinkx PLC (a)	3,186,900		801,041
Bond International Software PLC	583,666		728,300
Borders & Southern Petroleum PLC (a)	698,500		795,493
Cadogan Petroleum PLC (a)	1,406,300		340,425
Centurion Electronics PLC (a)(d)	748,299		12
Ceres Power Holdings PLC (a)(c)	430,000		1,040,360
Common Stocks - continued
	Shares		Value
United Kingdom - continued
China Goldmines PLC (a)	669,353		$ 204,519
Connaught PLC	436,100		2,222,541
Conygar Investment Co. PLC (a)	2,250,800		4,278,826
Corac Group PLC (a)	937,704		350,836
Cove Energy PLC (a)	3,942,100		1,472,460
Craneware PLC	792,600		4,725,441
CSR PLC (a)	827,772		5,910,900
Datacash Group PLC	1,164,880		3,713,346
DTZ Holdings PLC (a)	518,300		663,250
European Nickel PLC (a)	5,837,800		640,945
Evolution Group PLC	1,201,200		2,433,292
Faroe Petroleum PLC (a)	262,500		554,555
GoIndustry-DoveBid PLC (a)	2,258,900		50,196
Hays PLC	1,999,643		3,514,719
Icap PLC	236,300		1,388,466
Ideal Shopping Direct PLC (a)	234,592		523,164
IG Group Holdings PLC	1,113,751		7,157,052
Inchcape PLC (a)	7,501,506		3,184,036
Jubilee Platinum PLC (a)	1,657,843		1,000,430
Keronite PLC (a)(h)	13,620,267		108,857
Max Petroleum PLC (a)(c)	2,509,220		642,212
Michael Page International PLC	249,992		1,537,172
Mothercare PLC	345,900		3,537,768
NCC Group Ltd.	229,815		1,526,460
Northgate PLC	478,700		1,652,740
Pureprofile Media PLC (a)(h)	1,108,572		442,999
Redhall Group PLC (c)	519,600		1,426,111
Regenersis PLC (a)	1,367,300		970,049
Royalblue Group PLC	186,242		3,691,919
Salamander Energy PLC (a)	673,800		2,843,606
SDL PLC (a)	689,062		5,239,353
Serco Group PLC	411,451		3,270,465
SIG PLC (a)	1,419,500		2,582,150
Silverdell PLC (a)	4,958,000		757,453
Sinclair Pharma PLC (a)	2,909,996		1,527,926
SOCO International PLC (a)	73,800		1,693,792
Sphere Medical Holding PLC (a)(h)	420,000		1,141,293
SR Pharma PLC (a)	5,388,700		1,282,991
Sthree PLC	519,709		2,522,627
Synergy Health PLC	273,830		2,692,231
Ted Baker PLC	301,000		2,370,903
Common Stocks - continued
	Shares		Value
United Kingdom - continued
TMO Biotec (a)(h)	1,000,000		$ 399,613
Travis Perkins PLC (a)	239,500		2,797,004
Valiant Petroleum PLC (a)	146,600		1,337,973
Wellstream Holdings PLC	212,900		1,684,461
William Hill PLC	1,255,035		3,980,551
Xchanging PLC	1,427,100		4,328,074
Zenergy Power PLC (a)	858,720		1,742,031
ZincOx Resources PLC (a)	350,800		281,458
TOTAL UNITED KINGDOM			126,690,610
United States of America - 0.6%
CTC Media, Inc. (a)	357,400		4,824,900
Cyberview Technology, Inc. (a)	996,527		16
TyraTech, Inc. (a)	129,600		17,485
XL TechGroup, Inc. (a)	1,329,250		21
TOTAL UNITED STATES OF AMERICA			4,842,422
TOTAL COMMON STOCKS (Cost $724,075,999)		709,486,600
Investment Companies - 0.1%
Bailiwick of Guernsey - 0.1%
Brookwell Ltd. Class A (d) (Cost $2,059,195)	705,464		653,057

Government Obligations - 0.2%
		Principal Amount
Germany - 0.2%
German Federal Republic 0.3346% 2/17/10 (b)(f) (Cost $2,078,152)	EUR	1,400,000	1,940,836

Money Market Funds - 8.5%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (g)	35,345,450		$ 35,345,450
Fidelity Securities Lending Cash Central Fund, 0.18% (g)(i)	28,238,002		28,238,002
TOTAL MONEY MARKET FUNDS (Cost $63,583,452)		63,583,452
TOTAL INVESTMENT PORTFOLIO - 103.5% (Cost $791,796,798)			775,663,945
NET OTHER ASSETS - (3.5)%			(26,184,690)
NET ASSETS - 100%		$ 749,479,255

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
217 EUREX Dow Jones EURO STOXX 50 Index Contracts (EU)	March 2010	$ 8,342,838	$ (118,780)

The face value of futures purchased as a percentage of net assets - 1.1%

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

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

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

(d) Affiliated company

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

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $1,663,574.

(g) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(h) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $6,727,496 or 0.9% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost
AirSea Lines	8/4/06	$ 1,199,182
AirSea Lines warrants 8/4/11	8/4/06	$ 2
Buried Hill Energy (Cyprus) PCL	8/18/06	$ 2,141,700
Kalahari Energy	9/1/06	$ 1,813,750
Keronite PLC	8/16/06	$ 1,548,992
Pureprofile Media PLC	5/3/05 - 1/11/06	$ 1,173,341
Rock Well Petroleum, Inc.	4/13/06	$ 1,004,171
Sphere Medical Holding PLC	8/27/08	$ 1,310,083
TMO Biotec	10/27/05	$ 535,065

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

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliates	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Brookwell Ltd. Class A	$ 1,078,606	$ -	$ 390,464	$ -	$ 653,057
Centurion Electronics PLC	12	-	-	-	12
Total	$ 1,078,618	$ -	$ 390,464	$ -	$ 653,069

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	$ 13,644
Fidelity Securities Lending Cash Central Fund	171,706
Total	$ 185,350

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Japan	$ 184,720,858	$ 184,720,858	$ -	$ -
United Kingdom	126,690,610	-	124,597,823	2,092,787
Australia	68,945,500	58,442,350	10,503,150	-
Germany	64,138,215	-	64,138,215	-
France	53,495,023	-	53,495,023	-
Netherlands	25,192,902	1,436,225	23,756,677	-
Cayman Islands	19,055,425	16,551,050	2,504,375	-
Bermuda	16,489,116	11,953,554	4,525,902	9,660
Norway	15,465,000	-	15,465,000	-
Canada	13,875,511	9,349,347	4,526,105	59
British Virgin Islands	6,767,677	-	6,469,607	298,070
Cyprus	6,574,267	-	2,193,517	4,380,750
United States of America	4,842,422	4,824,900	17,485	37
Ireland	1,681,488	-	1,681,474	14
Other	101,552,586	38,033,656	63,518,930	-
Investment Companies	653,057	-	653,057	-
Government Obligations	1,940,836	-	1,940,836	-
Money Market Funds	63,583,452	63,583,452	-	-
Total Investments in Securities:	$ 775,663,945	$ 388,895,392	$ 379,987,176	$ 6,781,377
Derivative Instruments:
Liabilities
Futures Contracts	$ (118,780)	$ (118,780)	$ -	$ -

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

Investments in Securities:
Beginning Balance	$ 8,316,240
Total Realized Gain (Loss)	(2,533,321)
Total Unrealized Gain (Loss)	3,538,370
Cost of Purchases	-
Proceeds of Sales	(1,938,332)
Amortization/Accretion	-
Transfers in/out of Level 3	(601,580)
Ending Balance	$ 6,781,377
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ (350,927)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $805,979,091. Net unrealized depreciation aggregated $30,315,146, of which $105,067,457 related to appreciated investment securities and $135,382,603 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. 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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor International
Small Cap Fund:
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2009

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity®
International Small Cap Fund

1.813255.105

AISC-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.7%
	Shares		Value
Australia - 9.2%
Allied Gold Ltd. (a)	12,900,640		$ 3,479,254
Allied Gold Ltd. (United Kingdom) (a)	5,115,200		1,431,155
Aristocrat Leisure Ltd.	258,059		905,909
Austal Ltd.	1,095,023		2,333,541
Australian Worldwide Exploration Ltd.	783,251		1,814,585
BlueScope Steel Ltd.	733,875		1,700,194
carsales.com Ltd.	141,494		564,273
Centamin Egypt Ltd. (a)	2,368,514		4,042,902
Charter Hall Group unit	1,834,707		1,070,744
Coal of Africa Ltd. (a)	2,661,019		5,029,093
David Jones Ltd.	228,220		960,585
Downer Edi Ltd.	542,143		3,983,730
DUET Group	524,820		837,650
Energy Resources of Australia Ltd.	86,246		1,597,710
Goodman Group unit	11,859,128		6,134,564
Incitec Pivot Ltd.	229,712		684,524
Iress Market Technology Ltd. (c)	167,080		1,159,763
JB Hi-Fi Ltd.	89,504		1,596,333
Lynas Corp. Ltd. (a)	658,365		323,098
MacArthur Coal Ltd.	123,950		1,035,746
MAp Group unit	463,775		1,140,059
Mineral Deposits Ltd. (a)	5,680,000		4,568,222
Mineral Resources Ltd.	178,103		1,053,592
Monto Minerals Ltd. (a)	273,551		2,903
Navitas Ltd.	1,322,105		5,237,440
Paladin Energy Ltd. (a)	183,529		590,719
Ramsay Health Care Ltd.	314,643		3,191,219
SAI Global Ltd.	1,368,244		4,706,393
SEEK Ltd.	1,109,183		6,365,360
Tianshan Goldfields Ltd. (a)	944,712		104,420
Wotif.com Holdings Ltd.	220,716		1,299,820
TOTAL AUSTRALIA			68,945,500
Bailiwick of Guernsey - 0.3%
Stobart Group Ltd.	1,196,500		2,429,021
Bailiwick of Jersey - 0.3%
ACP Capital Ltd.	532,925		160,719
Camco International Ltd. (a)	893,402		226,969
Renewable Energy Generation Ltd.	1,646,700		1,651,628
TOTAL BAILIWICK OF JERSEY			2,039,316
Common Stocks - continued
	Shares		Value
Belgium - 0.4%
Barco NV (a)	24,300		$ 995,672
EVS Broadcast Equipment SA	7,700		495,791
Hansen Transmissions International NV (a)	1,314,300		1,864,474
TOTAL BELGIUM			3,355,937
Bermuda - 2.2%
Aquarius Platinum Ltd. (Australia) (a)	445,017		2,628,622
China Animal Healthcare Ltd.	2,911,000		517,511
China LotSynergy Holdings Ltd. (a)	6,120,000		299,538
China Water Affairs Group Ltd.	1,134,000		460,088
Luk Fook Holdings International Ltd.	896,000		722,436
Mingyuan Medicare Development Co. Ltd. (a)	1,640,000		261,929
Noble Group Ltd.	463,000		948,224
Oakley Capital Investments Ltd. (a)	1,210,200		1,932,344
Peace Mark Holdings Ltd. (a)	788,000		1
Seadrill Ltd.	114,300		2,593,558
Vtech Holdings Ltd.	617,000		6,115,206
Zambezi Resources Ltd. CDI (a)	2,184,593		9,659
TOTAL BERMUDA			16,489,116
British Virgin Islands - 0.9%
Albidon Ltd. unit (a)	1,469,000		44,145
Kalahari Energy (a)(h)	1,451,000		253,925
Playtech Ltd. (c)	788,407		6,469,607
TOTAL BRITISH VIRGIN ISLANDS			6,767,677
Canada - 1.9%
AirSea Lines (a)(h)	1,893,338		26
AirSea Lines warrants 8/4/11 (a)(h)	1,862,300		26
Equinox Minerals Ltd. unit (a)	517,196		1,705,843
European Goldfields Ltd. (a)	827,700		4,203,134
Pacific Rubiales Energy Corp. (a)	202,900		2,709,634
Platmin Ltd. (a)	3,524,100		4,526,105
Rock Well Petroleum, Inc. (a)(h)	770,400		7
SouthGobi Energy Resources Ltd.	24,000		346,216
Starfield Resources, Inc. (a)	4,328,075		384,520
TOTAL CANADA			13,875,511
Cayman Islands - 2.5%
Ajisen (China) Holdings Ltd.	205,000		188,261
Bosideng International Holdings Ltd.	2,152,000		426,855
China Dongxiang Group Co. Ltd.	1,163,000		754,966
China High Precision Automation Group Ltd. (a)	504,000		369,369
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
China Shineway Pharmaceutical Group Ltd.	367,000		$ 642,869
CNinsure, Inc. ADR	12,300		228,903
Ctrip.com International Ltd. sponsored ADR (a)	31,600		988,764
Daphne International Holdings Ltd.	2,616,000		1,987,957
Eagle Nice (International) Holdings Ltd.	4,832,000		1,972,893
Hengdeli Holdings Ltd.	740,000		245,906
JA Solar Holdings Co. Ltd. ADR (a)	93,089		400,283
Kingboard Chemical Holdings Ltd.	212,000		909,279
Kingboard Chemical Holdings Ltd. rights (a)	14,058		0
Kingboard Laminates Holdings Ltd.	1,073,500		760,470
Kingdee International Software Group Co. Ltd.	2,774,000		686,001
Marwyn Value Investors II Ltd. (a)	1,846,800		1,802,782
Orchid Developments Group Ltd. (a)	1,211,000		701,593
Pacific Textile Holdings Ltd.	610,000		432,911
Perfect World Co. Ltd. sponsored ADR Class B (a)	11,000		410,190
Regent Pacific Group Ltd.	8,780,000		243,137
Wasion Group Holdings Ltd.	430,000		297,967
Wuxi Pharmatech Cayman, Inc. sponsored ADR (a)	24,400		366,976
Xingda International Holdings Ltd.	3,325,000		1,550,306
Xinyi Glass Holdings Co. Ltd.	1,260,000		1,002,943
Yip's Chemical Holdings Ltd.	2,112,000		1,683,844
TOTAL CAYMAN ISLANDS			19,055,425
China - 1.1%
51job, Inc. sponsored ADR (a)	37,000		591,630
Baidu.com, Inc. sponsored ADR (a)	1,700		699,907
Dalian Port (PDA) Co. Ltd. (H Shares)	1,734,000		699,054
Global Bio-Chem Technology Group Co. Ltd.	1,482,000		414,214
Minth Group Ltd.	1,586,000		2,008,047
Shenzhou International Group Holdings Ltd.	1,219,000		1,544,956
Weiqiao Textile Co. Ltd. (H Shares)	2,766,500		1,856,460
Zhejiang Expressway Co. Ltd. (H Shares)	252,000		220,063
TOTAL CHINA			8,034,331
Cyprus - 0.9%
Buried Hill Energy (Cyprus) PCL (a)(h)	1,947,000		4,380,750
Mirland Development Corp. PLC (a)	758,000		2,193,517
TOTAL CYPRUS			6,574,267
Common Stocks - continued
	Shares		Value
Denmark - 1.0%
DSV de Sammensluttede Vognmaend AS (a)	239,000		$ 4,240,293
Vestas Wind Systems AS (a)	61,909		3,256,077
TOTAL DENMARK			7,496,370
Finland - 1.0%
Nokian Tyres PLC (c)	190,740		4,611,373
Talvivaara Mining Co. PLC (a)(c)	460,800		2,582,089
TOTAL FINLAND			7,193,462
France - 7.1%
Altamir Amboise (a)	532,800		4,182,922
April Group	72,100		2,209,200
Audika SA	85,200		3,121,410
Delachaux SA	59,387		3,140,190
Devoteam SA	40,400		1,040,576
Faiveley SA	48,223		3,866,429
Iliad Group SA	44,967		4,983,721
Ipsos SA	71,200		2,235,807
Laurent-Perrier Group	14,360		1,232,151
LeGuide.com SA (a)	82,800		2,043,635
Maisons France Confort (c)	87,444		3,195,853
Meetic (a)	189,000		5,278,221
Nexity	79,800		2,901,969
Sartorius Stedim Biotech	53,500		2,264,297
SeLoger.com (a)	188,800		6,580,415
Sopra Group SA	29,300		2,166,488
SR Teleperformance SA	93,500		3,051,739
TOTAL FRANCE			53,495,023
Germany - 8.6%
CENTROTEC Sustainable AG (a)	29,966		502,080
CTS Eventim AG	111,318		5,308,038
Delticom AG	136,500		5,478,033
Drillisch AG (a)	663,300		4,278,318
ElringKlinger AG	183,200		4,072,086
Freenet AG (a)	154,200		1,952,893
GEA Group AG	146,680		2,988,726
GFK AG	5,996		221,233
HeidelbergCement AG	129,366		7,795,611
KROMI Logistik AG (a)	114,200		1,165,032
Lanxess AG	117,550		4,448,072
Pfleiderer AG (a)	211,600		1,873,765
Rational AG	18,820		3,057,420
Common Stocks - continued
	Shares		Value
Germany - continued
SMA Solar Technology AG	30,100		$ 3,522,402
Software AG (Bearer)	72,800		8,275,756
STRATEC Biomedical Systems AG	78,110		2,725,001
United Internet AG (a)	221,090		3,243,217
Wacker Chemie AG	24,700		3,230,532
TOTAL GERMANY			64,138,215
Greece - 0.3%
Babis Vovos International Technical SA (a)	149,200		808,595
Jumbo SA	145,300		1,525,390
TOTAL GREECE			2,333,985
Hong Kong - 1.6%
Dah Sing Financial Holdings Ltd. (a)	110,800		537,306
Galaxy Entertainment Group Ltd. (a)	2,253,000		856,053
I.T Ltd. (a)	2,280,000		384,701
Inspur International Ltd. (c)	4,210,000		601,897
REXCAPITAL Financial Holdings Ltd.	12,125,000		1,452,386
Sa Sa International Holdings Ltd.	1,336,000		863,828
Shun Tak Holdings Ltd.	1,690,000		983,881
Singamas Container Holdings Ltd. (a)	6,148,000		958,157
Techtronic Industries Co. Ltd.	3,510,000		2,911,456
Texwinca Holdings Ltd.	2,148,000		1,897,910
Tian An China Investments Co. Ltd.	669,000		419,636
TOTAL HONG KONG			11,867,211
India - 0.2%
Educomp Solutions Ltd.	28,796		439,791
Geodesic Ltd.	256,340		717,474
TOTAL INDIA			1,157,265
Indonesia - 0.2%
PT Ciputra Development Tbk (a)	14,603,500		1,062,074
PT Kalbe Farma Tbk	4,207,500		693,001
TOTAL INDONESIA			1,755,075
Ireland - 0.2%
Petroceltic International PLC (a)	8,825,100		1,681,474
Vimio PLC (a)	867,300		14
TOTAL IRELAND			1,681,488
Isle of Man - 0.9%
Exillon Energy PLC	1,317,000		3,762,761
Common Stocks - continued
	Shares		Value
Isle of Man - continued
IBS Group Holding Ltd. GDR (Reg. S) (a)	317,700		$ 3,087,986
Nviro Cleantech PLC (a)	217,500		212,382
TOTAL ISLE OF MAN			7,063,129
Italy - 0.7%
Seldovia Native Association, Inc. (SNAI) (a)	300,990		1,181,353
Tod's SpA (c)	58,003		3,814,917
TOTAL ITALY			4,996,270
Japan - 24.6%
ABC-Mart, Inc.	60,600		1,872,981
Aioi Insurance Co. Ltd.	263,000		1,252,797
Air Water, Inc.	239,000		2,734,984
Airport Facilities Co. Ltd.	168,800		895,704
Alpine Electronics, Inc. (a)	32,000		368,672
Aozora Bank Ltd. (a)	1,239,000		1,578,431
ARCS Co. Ltd.	116,000		1,581,877
Arnest One Corp.	44,100		465,085
Asahi Intecc Co. Ltd.	140,300		2,514,738
ASKUL Corp.	96,000		1,757,926
Bank of Kyoto Ltd.	184,000		1,524,670
Benesse Corp.	22,500		947,158
Central Glass Co. Ltd.	550,000		2,272,626
Chiba Bank Ltd.	308,000		1,862,944
Chiyoda Corp.	310,000		2,833,167
Create SD Holdings Co. Ltd.	48,200		839,375
Credit Saison Co. Ltd.	166,100		2,068,200
Culture Convenience Club Co. Ltd. (c)	307,100		1,476,475
Dai-ichi Seiko Co. Ltd.	24,100		1,069,242
Daicel Chemical Industries Ltd.	470,000		2,832,392
Daihen Corp.	481,000		1,955,544
Daiseki Co. Ltd. (c)	61,030		1,285,910
Don Quijote Co. Ltd.	80,100		1,800,409
eAccess Ltd.	1,489		1,055,677
Ebara Corp. (a)	253,000		1,065,027
EPS Co. Ltd.	260		973,524
Exedy Corp.	110,500		2,449,435
Ferrotec Corp.	145,900		1,697,075
FOI Corp.	65,600		590,814
FreeBit Co., Ltd.	195		960,203
Fuji Oil Co. Ltd.	174,400		2,496,120
Furukawa Electric Co. Ltd.	422,000		2,052,265
Common Stocks - continued
	Shares		Value
Japan - continued
Furuya Metal Co. Ltd.	16,700		$ 1,850,005
GREE, Inc.	39,300		2,289,997
Hitachi Transport System Ltd.	123,900		1,645,686
Hoshizaki Electric Co. Ltd.	67,500		947,408
Ibiden Co. Ltd.	81,000		2,781,655
Inpex Corp.	200		1,462,280
Isetan Mitsukoshi Holdings Ltd.	119,500		1,126,559
Isuzu Motors Ltd. (a)	266,000		565,769
Itochu Corp.	302,000		2,368,627
Japan Communications, Inc. (a)(c)	3,083		402,665
Japan Wind Development Co. Ltd. (c)	276		721,874
JP-Holdings, Inc.	73,700		1,131,585
JTEKT Corp.	141,100		1,611,544
Kakaku.com, Inc.	423		1,560,419
Kandenko Co. Ltd.	193,000		1,231,505
Kansai Paint Co. Ltd.	117,000		951,346
Kenedix Realty Investment Corp.	602		1,707,234
Kenedix, Inc. (a)	2,223		688,793
Kimoto Co. Ltd.	96,500		970,666
KOMERI Co. Ltd.	86,400		2,210,967
Kuraray Co. Ltd.	191,500		2,235,970
Maeda Corp.	210,000		574,609
Marui Group Co. Ltd.	116,000		719,619
Maruwa Ceramic Co. Ltd.	24,000		549,285
McDonald's Holdings Co. (Japan) Ltd.	92,900		1,889,491
Meiko Electronics Co. Ltd. (c)	102,100		2,499,623
Message Co. Ltd.	923		2,053,156
Mitsubishi Materials Corp. (a)	534,000		1,390,163
Mitsubishi UFJ Lease & Finance Co. Ltd.	79,770		2,757,089
Mitsumi Electric Co. Ltd.	64,600		1,127,119
mixi, Inc. (a)(c)	280		1,885,898
Mobilephone Telecommunications International Ltd. (c)	1,269		2,727,218
Nabtesco Corp.	226,000		2,668,838
NGK Insulators Ltd.	92,000		2,007,754
NHK Spring Co. Ltd.	166,000		1,449,075
Nichicon Corp.	230,300		2,625,221
Nihon M&A Center, Inc. (c)	549		2,159,023
Nihon Nohyaku Co. Ltd. (c)	233,000		1,233,787
Nippon Electric Glass Co. Ltd.	67,000		947,070
Nippon Signal Co. Ltd.	259,000		2,484,701
Nissay Dowa General Insurance Co. Ltd.	243,000		1,162,911
Nissin Kogyo Co. Ltd.	60,900		943,825
Common Stocks - continued
	Shares		Value
Japan - continued
NOF Corp.	237,000		$ 968,794
Nomura Real Estate Residential Fund, Inc.	386		1,481,655
NTT Urban Development Co.	1,171		862,651
Otsuka Corp.	29,900		1,636,269
Park24 Co. Ltd.	121,100		1,277,137
Pigeon Corp.	30,500		1,197,768
Point, Inc.	23,550		1,351,379
Risa Partners, Inc. (c)	1,678		1,001,930
Rohto Pharmaceutical Co. Ltd.	224,000		2,727,107
Roland DG Corp.	13,300		179,750
Sankyu, Inc.	289,000		1,379,849
Santen Pharmaceutical Co. Ltd.	65,900		2,074,021
Sega Sammy Holdings, Inc.	80,200		904,438
Sekisui Chemical Co. Ltd.	338,000		2,287,781
Seven Bank Ltd.	711		1,485,483
Shimadzu Corp.	263,000		1,745,176
Shin Nippon Biomedical Laboratories Ltd. (c)	130,200		879,827
Shin-Kobe Electric Machinery Co. Ltd. (c)	224,000		2,275,485
Shizuoka Gas Co. Ltd.	88,000		584,912
SHO-BOND Holdings Co. Ltd.	128,700		2,174,227
SKY Perfect JSAT Holdings, Inc.	1,759		753,133
So-net M3, Inc. (c)	480		1,591,492
SRI Sports Ltd.	1,028		986,206
Stanley Electric Co. Ltd.	113,400		2,173,280
Start Today Co. Ltd.	602		1,136,377
Sumitomo Trust & Banking Co. Ltd.	344,000		1,916,827
Sysmex Corp.	46,700		2,617,724
Taisho Pharmaceutical Co. Ltd.	54,000		942,173
Takata Corp.	95,800		2,114,031
Takeei Corp.	87,100		1,254,348
The Suruga Bank Ltd.	221,000		1,956,120
Tocalo Co. Ltd.	67,000		1,162,313
Tokyo Ohka Kogyo Co. Ltd.	60,700		1,057,055
Toto Ltd.	277,000		1,690,783
Towa Corp. (a)(c)	243,300		1,991,788
Toyo Suisan Kaisha Ltd.	59,000		1,558,170
Toyo Tanso Co. Ltd. (c)	37,000		1,946,937
Toyota Boshoku Corp.	69,800		1,534,873
Ube Industries Ltd.	664,000		1,721,236
Unicharm Petcare Corp.	76,400		2,551,745
Weathernews, Inc. (c)	34,500		402,060
Works Applications Co. Ltd. (c)	2,043		1,262,871
Common Stocks - continued
	Shares		Value
Japan - continued
Yamatake Corp.	118,700		$ 2,607,534
Yamato Kogyo Co. Ltd.	59,000		1,866,667
TOTAL JAPAN			184,720,858
Korea (South) - 0.9%
Daou Technology, Inc.	197,150		1,272,484
Hyosung Corp.	11,929		836,852
Hyundai Industrial Development & Construction Co.	8,810		273,293
Interpark Corp. (a)	98,412		569,803
Jusung Engineering Co. Ltd. (a)	72,738		950,885
KC Tech Co. Ltd.	60,790		242,604
MNTECH Co. Ltd.	38,900		429,649
Power Logics Co. Ltd. (a)	37,687		279,344
SFA Engineering Corp.	11,363		323,565
Sodiff Advanced Materials Co. Ltd.	6,601		472,761
The Basic House Co. Ltd. (a)	118,950		740,037
TK Corp.	17,649		467,533
TOTAL KOREA (SOUTH)			6,858,810
Luxembourg - 0.3%
GlobeOp Financial Services SA	635,085		2,167,298
Malaysia - 0.1%
JobStreet Corp. Bhd	1,289,000		562,445
Netherlands - 3.4%
Brunel International NV	109,900		4,053,924
Gemalto NV (a)	177,502		7,046,388
James Hardie Industries NV unit (a)	216,564		1,436,225
QIAGEN NV (a)	258,700		5,623,828
SMARTRAC NV (a)	96,200		2,258,151
Wavin NV	2,109,000		4,774,386
TOTAL NETHERLANDS			25,192,902
Norway - 2.1%
IMAREX NOS ASA (a)	145,200		1,395,420
Petroleum Geo-Services ASA (a)	200,300		2,492,512
Renewable Energy Corp. AS (a)(c)	711,695		4,127,050
Schibsted ASA (B Shares) (a)	274,200		6,010,650
Sevan Marine ASA (a)	1,000,000		1,439,368
TOTAL NORWAY			15,465,000
Papua New Guinea - 0.0%
Lihir Gold Ltd.	90,006		220,458
Common Stocks - continued
	Shares		Value
Singapore - 1.0%
Goodpack Ltd.	1,410,000		$ 1,233,280
Hyflux Ltd.	440,000		1,035,662
Oceanus Group Ltd. (a)	2,071,000		530,176
Parkway Holdings Ltd. (a)	726,000		1,393,920
Raffles Medical Group Ltd.	1,096,000		1,075,541
Suntec (REIT)	948,000		876,373
Wing Tai Holdings Ltd.	1,023,000		1,433,109
TOTAL SINGAPORE			7,578,061
Spain - 0.9%
EDP Renovaveis SA (a)	332,408		2,864,723
Vueling Airlines SA (a)	229,100		3,702,427
TOTAL SPAIN			6,567,150
Sweden - 1.1%
Countermine Technologies AB warrants 3/1/10 (a)	1,085,197		1
Elekta AB (B Shares)	244,000		5,723,905
Modern Times Group MTG AB (B Shares)	43,900		2,013,104
XCounter AB (a)	1,108,000		136,298
TOTAL SWEDEN			7,873,308
Switzerland - 1.3%
Basilea Pharmaceutica AG (a)	9,770		651,932
Lonza Group AG	37,493		2,666,197
Panalpina Welttransport Holding AG	50,690		3,524,808
VZ Holding AG	42,040		3,160,747
TOTAL SWITZERLAND			10,003,684
United Kingdom - 16.9%
Abcam PLC	255,600		4,455,991
Aberdeen Asset Management PLC	1,914,844		3,768,237
Afren PLC (a)	1,547,867		2,226,208
Antisoma PLC (a)	2,154,900		1,144,191
Asset Realisation Co. PLC (a)	340,000		5
Aurelian Oil & Gas PLC (a)(e)	4,640,000		2,373,379
Avanti Communications Group PLC (a)	640,000		5,015,752
Blinkx PLC (a)	3,186,900		801,041
Bond International Software PLC	583,666		728,300
Borders & Southern Petroleum PLC (a)	698,500		795,493
Cadogan Petroleum PLC (a)	1,406,300		340,425
Centurion Electronics PLC (a)(d)	748,299		12
Ceres Power Holdings PLC (a)(c)	430,000		1,040,360
Common Stocks - continued
	Shares		Value
United Kingdom - continued
China Goldmines PLC (a)	669,353		$ 204,519
Connaught PLC	436,100		2,222,541
Conygar Investment Co. PLC (a)	2,250,800		4,278,826
Corac Group PLC (a)	937,704		350,836
Cove Energy PLC (a)	3,942,100		1,472,460
Craneware PLC	792,600		4,725,441
CSR PLC (a)	827,772		5,910,900
Datacash Group PLC	1,164,880		3,713,346
DTZ Holdings PLC (a)	518,300		663,250
European Nickel PLC (a)	5,837,800		640,945
Evolution Group PLC	1,201,200		2,433,292
Faroe Petroleum PLC (a)	262,500		554,555
GoIndustry-DoveBid PLC (a)	2,258,900		50,196
Hays PLC	1,999,643		3,514,719
Icap PLC	236,300		1,388,466
Ideal Shopping Direct PLC (a)	234,592		523,164
IG Group Holdings PLC	1,113,751		7,157,052
Inchcape PLC (a)	7,501,506		3,184,036
Jubilee Platinum PLC (a)	1,657,843		1,000,430
Keronite PLC (a)(h)	13,620,267		108,857
Max Petroleum PLC (a)(c)	2,509,220		642,212
Michael Page International PLC	249,992		1,537,172
Mothercare PLC	345,900		3,537,768
NCC Group Ltd.	229,815		1,526,460
Northgate PLC	478,700		1,652,740
Pureprofile Media PLC (a)(h)	1,108,572		442,999
Redhall Group PLC (c)	519,600		1,426,111
Regenersis PLC (a)	1,367,300		970,049
Royalblue Group PLC	186,242		3,691,919
Salamander Energy PLC (a)	673,800		2,843,606
SDL PLC (a)	689,062		5,239,353
Serco Group PLC	411,451		3,270,465
SIG PLC (a)	1,419,500		2,582,150
Silverdell PLC (a)	4,958,000		757,453
Sinclair Pharma PLC (a)	2,909,996		1,527,926
SOCO International PLC (a)	73,800		1,693,792
Sphere Medical Holding PLC (a)(h)	420,000		1,141,293
SR Pharma PLC (a)	5,388,700		1,282,991
Sthree PLC	519,709		2,522,627
Synergy Health PLC	273,830		2,692,231
Ted Baker PLC	301,000		2,370,903
Common Stocks - continued
	Shares		Value
United Kingdom - continued
TMO Biotec (a)(h)	1,000,000		$ 399,613
Travis Perkins PLC (a)	239,500		2,797,004
Valiant Petroleum PLC (a)	146,600		1,337,973
Wellstream Holdings PLC	212,900		1,684,461
William Hill PLC	1,255,035		3,980,551
Xchanging PLC	1,427,100		4,328,074
Zenergy Power PLC (a)	858,720		1,742,031
ZincOx Resources PLC (a)	350,800		281,458
TOTAL UNITED KINGDOM			126,690,610
United States of America - 0.6%
CTC Media, Inc. (a)	357,400		4,824,900
Cyberview Technology, Inc. (a)	996,527		16
TyraTech, Inc. (a)	129,600		17,485
XL TechGroup, Inc. (a)	1,329,250		21
TOTAL UNITED STATES OF AMERICA			4,842,422
TOTAL COMMON STOCKS (Cost $724,075,999)		709,486,600
Investment Companies - 0.1%
Bailiwick of Guernsey - 0.1%
Brookwell Ltd. Class A (d) (Cost $2,059,195)	705,464		653,057

Government Obligations - 0.2%
		Principal Amount
Germany - 0.2%
German Federal Republic 0.3346% 2/17/10 (b)(f) (Cost $2,078,152)	EUR	1,400,000	1,940,836

Money Market Funds - 8.5%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (g)	35,345,450		$ 35,345,450
Fidelity Securities Lending Cash Central Fund, 0.18% (g)(i)	28,238,002		28,238,002
TOTAL MONEY MARKET FUNDS (Cost $63,583,452)		63,583,452
TOTAL INVESTMENT PORTFOLIO - 103.5% (Cost $791,796,798)			775,663,945
NET OTHER ASSETS - (3.5)%			(26,184,690)
NET ASSETS - 100%		$ 749,479,255

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
217 EUREX Dow Jones EURO STOXX 50 Index Contracts (EU)	March 2010	$ 8,342,838	$ (118,780)

The face value of futures purchased as a percentage of net assets - 1.1%

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

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

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

(d) Affiliated company

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

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $1,663,574.

(g) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(h) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $6,727,496 or 0.9% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost
AirSea Lines	8/4/06	$ 1,199,182
AirSea Lines warrants 8/4/11	8/4/06	$ 2
Buried Hill Energy (Cyprus) PCL	8/18/06	$ 2,141,700
Kalahari Energy	9/1/06	$ 1,813,750
Keronite PLC	8/16/06	$ 1,548,992
Pureprofile Media PLC	5/3/05 - 1/11/06	$ 1,173,341
Rock Well Petroleum, Inc.	4/13/06	$ 1,004,171
Sphere Medical Holding PLC	8/27/08	$ 1,310,083
TMO Biotec	10/27/05	$ 535,065

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

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliates	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Brookwell Ltd. Class A	$ 1,078,606	$ -	$ 390,464	$ -	$ 653,057
Centurion Electronics PLC	12	-	-	-	12
Total	$ 1,078,618	$ -	$ 390,464	$ -	$ 653,069

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	$ 13,644
Fidelity Securities Lending Cash Central Fund	171,706
Total	$ 185,350

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Japan	$ 184,720,858	$ 184,720,858	$ -	$ -
United Kingdom	126,690,610	-	124,597,823	2,092,787
Australia	68,945,500	58,442,350	10,503,150	-
Germany	64,138,215	-	64,138,215	-
France	53,495,023	-	53,495,023	-
Netherlands	25,192,902	1,436,225	23,756,677	-
Cayman Islands	19,055,425	16,551,050	2,504,375	-
Bermuda	16,489,116	11,953,554	4,525,902	9,660
Norway	15,465,000	-	15,465,000	-
Canada	13,875,511	9,349,347	4,526,105	59
British Virgin Islands	6,767,677	-	6,469,607	298,070
Cyprus	6,574,267	-	2,193,517	4,380,750
United States of America	4,842,422	4,824,900	17,485	37
Ireland	1,681,488	-	1,681,474	14
Other	101,552,586	38,033,656	63,518,930	-
Investment Companies	653,057	-	653,057	-
Government Obligations	1,940,836	-	1,940,836	-
Money Market Funds	63,583,452	63,583,452	-	-
Total Investments in Securities:	$ 775,663,945	$ 388,895,392	$ 379,987,176	$ 6,781,377
Derivative Instruments:
Liabilities
Futures Contracts	$ (118,780)	$ (118,780)	$ -	$ -

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

Investments in Securities:
Beginning Balance	$ 8,316,240
Total Realized Gain (Loss)	(2,533,321)
Total Unrealized Gain (Loss)	3,538,370
Cost of Purchases	-
Proceeds of Sales	(1,938,332)
Amortization/Accretion	-
Transfers in/out of Level 3	(601,580)
Ending Balance	$ 6,781,377
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ (350,927)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $805,979,091. Net unrealized depreciation aggregated $30,315,146, of which $105,067,457 related to appreciated investment securities and $135,382,603 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. 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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® International Small Cap
Opportunities Fund

January 31, 2010

1.827842.104

ILS-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%
	Shares		Value
Australia - 1.1%
MAp Group unit	1,291,074		$ 3,173,737
OZ Minerals Ltd. (a)	765,933		721,299
TOTAL AUSTRALIA			3,895,036
Austria - 0.7%
Andritz AG	45,100		2,518,813
Bailiwick of Jersey - 1.7%
Informa PLC	933,882		4,893,667
Randgold Resources Ltd. sponsored ADR	20,500		1,413,065
TOTAL BAILIWICK OF JERSEY			6,306,732
Belgium - 1.1%
Gimv NV	32,700		1,674,491
Umicore SA	81,882		2,523,545
TOTAL BELGIUM			4,198,036
Bermuda - 2.5%
Credicorp Ltd. (NY Shares)	10,000		746,300
Northern Offshore Ltd. (a)	595,352		1,029,726
Ports Design Ltd.	1,837,500		4,958,253
Scorpion Offshore Ltd. (a)	193,000		839,186
Seadrill Ltd.	37,398		848,590
Trinity Ltd.	1,784,000		838,697
TOTAL BERMUDA			9,260,752
Brazil - 3.9%
Banco ABC Brasil SA	533,300		3,395,013
BM&F BOVESPA SA	205,800		1,383,282
BR Malls Participacoes SA (a)	86,900		944,605
Braskem SA Class A sponsored ADR (a)(c)	264,900		3,684,759
Fibria Celulose SA sponsored ADR (a)(c)	100,936		1,845,110
Iguatemi Empresa de Shopping Centers SA	64,300		971,493
MRV Engenharia e Participacoes SA	203,100		1,298,332
Multiplan Empreendimentos Imobiliarios SA	41,700		663,660
TOTAL BRAZIL			14,186,254
Canada - 5.1%
Agnico-Eagle Mines Ltd. (Canada)	24,600		1,243,458
Eldorado Gold Corp. (a)	148,800		1,767,287
Fairfax Financial Holdings Ltd. (sub. vtg.)	7,690		2,609,192
Niko Resources Ltd.	46,000		4,247,676
Open Text Corp. (a)	40,800		1,607,504
Common Stocks - continued
	Shares		Value
Canada - continued
Petrobank Energy & Resources Ltd. (a)	127,500		$ 6,299,285
Quadra Mining Ltd. (a)	59,300		793,587
TOTAL CANADA			18,567,989
Cayman Islands - 0.2%
Wynn Macau Ltd.	638,400		810,750
China - 0.5%
Ausnutria Dairy Hunan Co. Ltd. Class H	705,000		508,504
China Nepstar Chain Drugstore Ltd. ADR (c)	234,900		1,418,796
TOTAL CHINA			1,927,300
Denmark - 0.5%
William Demant Holding AS (a)	22,200		1,732,488
Finland - 2.8%
Metso Corp.	71,700		2,406,264
Nokian Tyres PLC (c)	158,900		3,841,602
Outotec OYJ (c)	119,200		3,998,098
TOTAL FINLAND			10,245,964
France - 3.4%
Audika SA	119,784		4,388,439
Laurent-Perrier Group	24,263		2,081,872
Remy Cointreau SA	42,416		2,125,870
Saft Groupe SA	88,096		3,777,589
TOTAL FRANCE			12,373,770
Germany - 3.5%
Aixtron AG	138,700		4,172,356
alstria office REIT-AG	77,078		865,382
Bilfinger Berger AG	33,509		2,417,387
centrotherm photovoltaics AG (a)	16,400		914,434
Colonia Real Estate AG (a)	268,101		1,591,588
Software AG (Bearer)	23,927		2,719,969
TOTAL GERMANY			12,681,116
Greece - 0.7%
Terna Energy SA	299,651		2,418,403
Hong Kong - 0.3%
Champion (REIT)	2,598,936		1,097,960
Common Stocks - continued
	Shares		Value
India - 0.3%
Jyothy Laboratories Ltd.	136,876		$ 463,969
Tata Steel Ltd.	60,989		752,495
TOTAL INDIA			1,216,464
Israel - 0.2%
Partner Communications Co. Ltd. ADR	34,858		722,955
Italy - 1.9%
Azimut Holdings SpA	449,064		5,519,269
Interpump Group SpA (a)	263,175		1,358,175
TOTAL ITALY			6,877,444
Japan - 20.9%
Aioi Insurance Co. Ltd.	174,000		828,847
Aozora Bank Ltd. (a)	732,000		932,536
Asahi Co. Ltd. (c)	52,200		820,558
Autobacs Seven Co. Ltd.	106,300		3,220,677
Daikoku Denki Co. Ltd.	116,400		2,179,196
Daikokutenbussan Co. Ltd.	81,700		2,470,821
FCC Co. Ltd.	92,100		1,822,207
Fukuoka (REIT) Investment Fund	316		1,753,805
GCA Savvian Group Corp. (c)	1,365		1,587,737
Glory Ltd.	47,400		1,041,781
Goldcrest Co. Ltd.	37,280		1,049,390
Gunma Bank Ltd.	318,000		1,641,608
Japan Steel Works Ltd.	159,000		1,958,657
Kamigumi Co. Ltd.	201,000		1,514,124
Kobayashi Pharmaceutical Co. Ltd.	114,100		4,556,669
Kyoto Kimono Yuzen Co. Ltd.	91,900		892,836
Meiko Network Japan Co. Ltd.	120,500		720,838
Miraial Co. Ltd.	34,300		921,430
Nabtesco Corp.	153,000		1,806,780
Nachi-Fujikoshi Corp.	720,000		2,033,898
Nagaileben Co. Ltd.	40,700		881,450
Nihon Parkerizing Co. Ltd.	133,000		1,688,468
Nippon Seiki Co. Ltd.	240,000		2,650,714
Nippon Thompson Co. Ltd.	834,000		4,748,820
Nitto Kohki Co. Ltd.	38,000		802,769
Obic Co. Ltd.	11,680		2,184,097
Osaka Securities Exchange Co. Ltd.	1,208		6,717,807
OSG Corp. (c)	139,800		1,533,200
Pal Co. Ltd.	17,850		362,458
SAZABY, Inc.	46,800		598,803
Common Stocks - continued
	Shares		Value
Japan - continued
SHO-BOND Holdings Co. Ltd.	119,500		$ 2,018,805
Shoei Co. Ltd.	45,300		492,795
The Daishi Bank Ltd., Niigata	307,000		1,030,475
The Nippon Synthetic Chemical Industry Co. Ltd. (c)	210,000		1,495,846
THK Co. Ltd.	120,100		2,382,841
Toho Holdings Co. Ltd.	138,500		1,835,006
Tsumura & Co.	61,500		1,948,488
Tsutsumi Jewelry Co. Ltd.	41,100		784,028
USS Co. Ltd.	89,490		5,432,648
Yamato Kogyo Co. Ltd.	101,100		3,198,644
TOTAL JAPAN			76,542,557
Korea (South) - 0.5%
NHN Corp. (a)	11,461		1,710,892
Luxembourg - 0.2%
GlobeOp Financial Services SA	223,700		763,401
Mexico - 0.8%
Cemex SA de CV sponsored ADR	133,643		1,228,179
Desarrolladora Homex SAB de CV sponsored ADR (a)(c)	56,300		1,725,595
TOTAL MEXICO			2,953,774
Netherlands - 3.5%
Aalberts Industries NV	160,400		2,332,821
ASM International NV (NASDAQ) (a)	94,700		2,172,418
Heijmans NV unit (a)	81,690		1,457,644
James Hardie Industries NV sponsored ADR (a)	84,775		2,813,682
QIAGEN NV (a)	184,700		4,019,072
TOTAL NETHERLANDS			12,795,637
Norway - 0.4%
Sevan Marine ASA (a)(c)	1,018,000		1,465,276
Papua New Guinea - 0.6%
Lihir Gold Ltd. sponsored ADR (c)	60,100		1,457,425
Oil Search Ltd.	138,539		644,366
TOTAL PAPUA NEW GUINEA			2,101,791
Philippines - 0.4%
Jollibee Food Corp.	1,473,200		1,663,290
Singapore - 3.0%
Allgreen Properties Ltd.	2,221,000		1,847,872
Keppel Land Ltd.	533,000		1,243,193
Common Stocks - continued
	Shares		Value
Singapore - continued
Singapore Exchange Ltd.	1,011,000		$ 5,744,277
Wing Tai Holdings Ltd.	1,685,000		2,360,498
TOTAL SINGAPORE			11,195,840
South Africa - 2.9%
African Rainbow Minerals Ltd.	209,900		4,626,138
Blue Financial Services Ltd. (a)	2,384,043		121,976
Clicks Group Ltd.	576,072		2,002,717
JSE Ltd.	238,681		1,769,144
Mr. Price Group Ltd.	454,500		2,098,215
TOTAL SOUTH AFRICA			10,618,190
Spain - 1.2%
Grifols SA	31,032		473,022
Prosegur Compania de Seguridad SA (Reg.)	86,609		3,922,081
TOTAL SPAIN			4,395,103
Sweden - 1.1%
Intrum Justitia AB	188,800		2,298,430
Swedish Match Co.	89,800		1,880,332
TOTAL SWEDEN			4,178,762
Switzerland - 2.4%
Actelion Ltd. (Reg.) (a)	13,655		722,412
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	142,537		4,866,823
Sonova Holding AG Class B	25,903		3,205,854
TOTAL SWITZERLAND			8,795,089
Taiwan - 0.2%
Prime View International Co. Ltd. (a)	386,000		707,636
Prime View International Co. Ltd. sponsored GDR (a)(d)	5,900		108,226
TOTAL TAIWAN			815,862
Turkey - 2.4%
Albaraka Turk Katilim Bankasi AS	932,000		1,519,142
Anadolu Efes Biracilik ve Malt Sanyii AS	119,000		1,240,122
Asya Katilim Bankasi AS (a)	1,231,000		3,256,461
Coca-Cola Icecek AS	226,000		1,887,171
Tupras-Turkiye Petrol Rafinerileri AS	37,800		789,105
TOTAL TURKEY			8,692,001
United Kingdom - 17.5%
AMEC PLC	69,123		833,006
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Babcock International Group PLC	367,700		$ 3,283,346
Begbies Traynor Group PLC	1,026,700		1,499,156
Bellway PLC	178,772		2,106,165
BlueBay Asset Management	152,813		802,583
Bovis Homes Group PLC (a)	356,352		2,252,368
Britvic PLC	278,800		1,869,430
Chloride Group PLC	580,443		1,688,260
Cobham PLC	408,800		1,512,565
Derwent London PLC	92,000		1,914,907
Great Portland Estates PLC	547,489		2,445,517
H&T Group PLC	312,874		1,287,664
InterContinental Hotel Group PLC ADR	172,900		2,467,283
Johnson Matthey PLC	114,389		2,659,254
Meggitt PLC	592,400		2,439,962
Mothercare PLC	232,901		2,382,046
Persimmon PLC (a)	193,463		1,328,099
Quintain Estates & Development PLC (a)	1,307,224		1,220,742
Rotork PLC	71,500		1,440,232
Serco Group PLC	570,940		4,538,182
Shaftesbury PLC	381,332		2,308,894
Spectris PLC	178,704		2,170,918
Spirax-Sarco Engineering PLC	212,030		4,232,139
SSL International PLC	438,551		5,434,228
St. Modwen Properties PLC (a)	280,300		840,960
Ted Baker PLC	252,000		1,984,942
Ultra Electronics Holdings PLC	91,869		1,858,215
Unite Group PLC (a)	797,770		3,654,439
Victrex PLC	134,982		1,748,908
TOTAL UNITED KINGDOM			64,204,410
United States of America - 9.2%
Advanced Energy Industries, Inc. (a)	313,719		4,115,993
Airgas, Inc.	41,900		1,770,694
Autoliv, Inc.	83,400		3,570,354
Cymer, Inc. (a)	51,500		1,615,555
Dril-Quip, Inc. (a)	26,500		1,390,985
Evercore Partners, Inc. Class A	42,700		1,275,449
ION Geophysical Corp. (a)	272,289		1,293,373
Juniper Networks, Inc. (a)	77,700		1,929,291
Kansas City Southern (a)	78,500		2,331,450
Lam Research Corp. (a)	25,503		841,854
Martin Marietta Materials, Inc. (c)	15,300		1,211,454
Common Stocks - continued
	Shares		Value
United States of America - continued
Mohawk Industries, Inc. (a)(c)	82,600		$ 3,420,466
PriceSmart, Inc.	310,745		6,218,007
ResMed, Inc. (a)	38,800		1,984,232
Varian Semiconductor Equipment Associates, Inc. (a)	22,200		651,126
TOTAL UNITED STATES OF AMERICA			33,620,283
TOTAL COMMON STOCKS (Cost $283,313,250)		357,550,384
Money Market Funds - 8.1%
Fidelity Cash Central Fund, 0.17% (e)	9,543,261		9,543,261
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	20,138,574		20,138,574
TOTAL MONEY MARKET FUNDS (Cost $29,681,835)		29,681,835
TOTAL INVESTMENT PORTFOLIO - 105.7% (Cost $312,995,085)			387,232,219
NET OTHER ASSETS - (5.7)%			(20,849,722)
NET ASSETS - 100%		$ 366,382,497

Legend

(a) Non-income producing

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

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

(d) 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 $108,226 or 0.0% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,504
Fidelity Securities Lending Cash Central Fund	56,200
Total	$ 57,704

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 76,542,557	$ 76,542,557	$ -	$ -
United Kingdom	64,204,410	2,467,283	61,737,127	-
United States of America	33,620,283	33,620,283	-	-
Canada	18,567,989	18,567,989	-	-
Brazil	14,186,254	14,186,254	-	-
Netherlands	12,795,637	9,005,172	3,790,465	-
Germany	12,681,116	-	12,681,116	-
France	12,373,770	-	12,373,770	-
Singapore	11,195,840	11,195,840	-	-
Other	101,382,528	46,182,580	55,199,948	-
Money Market Funds	29,681,835	29,681,835	-	-
Total Investments in Securities	$ 387,232,219	$ 241,449,793	$ 145,782,426	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $316,482,573. Net unrealized appreciation aggregated $70,749,646, of which $79,565,490 related to appreciated investment securities and $8,815,844 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor International
Small Cap Opportunities Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity® International
Small Cap Opportunities Fund

1.829636.104

AILS-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%
	Shares		Value
Australia - 1.1%
MAp Group unit	1,291,074		$ 3,173,737
OZ Minerals Ltd. (a)	765,933		721,299
TOTAL AUSTRALIA			3,895,036
Austria - 0.7%
Andritz AG	45,100		2,518,813
Bailiwick of Jersey - 1.7%
Informa PLC	933,882		4,893,667
Randgold Resources Ltd. sponsored ADR	20,500		1,413,065
TOTAL BAILIWICK OF JERSEY			6,306,732
Belgium - 1.1%
Gimv NV	32,700		1,674,491
Umicore SA	81,882		2,523,545
TOTAL BELGIUM			4,198,036
Bermuda - 2.5%
Credicorp Ltd. (NY Shares)	10,000		746,300
Northern Offshore Ltd. (a)	595,352		1,029,726
Ports Design Ltd.	1,837,500		4,958,253
Scorpion Offshore Ltd. (a)	193,000		839,186
Seadrill Ltd.	37,398		848,590
Trinity Ltd.	1,784,000		838,697
TOTAL BERMUDA			9,260,752
Brazil - 3.9%
Banco ABC Brasil SA	533,300		3,395,013
BM&F BOVESPA SA	205,800		1,383,282
BR Malls Participacoes SA (a)	86,900		944,605
Braskem SA Class A sponsored ADR (a)(c)	264,900		3,684,759
Fibria Celulose SA sponsored ADR (a)(c)	100,936		1,845,110
Iguatemi Empresa de Shopping Centers SA	64,300		971,493
MRV Engenharia e Participacoes SA	203,100		1,298,332
Multiplan Empreendimentos Imobiliarios SA	41,700		663,660
TOTAL BRAZIL			14,186,254
Canada - 5.1%
Agnico-Eagle Mines Ltd. (Canada)	24,600		1,243,458
Eldorado Gold Corp. (a)	148,800		1,767,287
Fairfax Financial Holdings Ltd. (sub. vtg.)	7,690		2,609,192
Niko Resources Ltd.	46,000		4,247,676
Open Text Corp. (a)	40,800		1,607,504
Common Stocks - continued
	Shares		Value
Canada - continued
Petrobank Energy & Resources Ltd. (a)	127,500		$ 6,299,285
Quadra Mining Ltd. (a)	59,300		793,587
TOTAL CANADA			18,567,989
Cayman Islands - 0.2%
Wynn Macau Ltd.	638,400		810,750
China - 0.5%
Ausnutria Dairy Hunan Co. Ltd. Class H	705,000		508,504
China Nepstar Chain Drugstore Ltd. ADR (c)	234,900		1,418,796
TOTAL CHINA			1,927,300
Denmark - 0.5%
William Demant Holding AS (a)	22,200		1,732,488
Finland - 2.8%
Metso Corp.	71,700		2,406,264
Nokian Tyres PLC (c)	158,900		3,841,602
Outotec OYJ (c)	119,200		3,998,098
TOTAL FINLAND			10,245,964
France - 3.4%
Audika SA	119,784		4,388,439
Laurent-Perrier Group	24,263		2,081,872
Remy Cointreau SA	42,416		2,125,870
Saft Groupe SA	88,096		3,777,589
TOTAL FRANCE			12,373,770
Germany - 3.5%
Aixtron AG	138,700		4,172,356
alstria office REIT-AG	77,078		865,382
Bilfinger Berger AG	33,509		2,417,387
centrotherm photovoltaics AG (a)	16,400		914,434
Colonia Real Estate AG (a)	268,101		1,591,588
Software AG (Bearer)	23,927		2,719,969
TOTAL GERMANY			12,681,116
Greece - 0.7%
Terna Energy SA	299,651		2,418,403
Hong Kong - 0.3%
Champion (REIT)	2,598,936		1,097,960
Common Stocks - continued
	Shares		Value
India - 0.3%
Jyothy Laboratories Ltd.	136,876		$ 463,969
Tata Steel Ltd.	60,989		752,495
TOTAL INDIA			1,216,464
Israel - 0.2%
Partner Communications Co. Ltd. ADR	34,858		722,955
Italy - 1.9%
Azimut Holdings SpA	449,064		5,519,269
Interpump Group SpA (a)	263,175		1,358,175
TOTAL ITALY			6,877,444
Japan - 20.9%
Aioi Insurance Co. Ltd.	174,000		828,847
Aozora Bank Ltd. (a)	732,000		932,536
Asahi Co. Ltd. (c)	52,200		820,558
Autobacs Seven Co. Ltd.	106,300		3,220,677
Daikoku Denki Co. Ltd.	116,400		2,179,196
Daikokutenbussan Co. Ltd.	81,700		2,470,821
FCC Co. Ltd.	92,100		1,822,207
Fukuoka (REIT) Investment Fund	316		1,753,805
GCA Savvian Group Corp. (c)	1,365		1,587,737
Glory Ltd.	47,400		1,041,781
Goldcrest Co. Ltd.	37,280		1,049,390
Gunma Bank Ltd.	318,000		1,641,608
Japan Steel Works Ltd.	159,000		1,958,657
Kamigumi Co. Ltd.	201,000		1,514,124
Kobayashi Pharmaceutical Co. Ltd.	114,100		4,556,669
Kyoto Kimono Yuzen Co. Ltd.	91,900		892,836
Meiko Network Japan Co. Ltd.	120,500		720,838
Miraial Co. Ltd.	34,300		921,430
Nabtesco Corp.	153,000		1,806,780
Nachi-Fujikoshi Corp.	720,000		2,033,898
Nagaileben Co. Ltd.	40,700		881,450
Nihon Parkerizing Co. Ltd.	133,000		1,688,468
Nippon Seiki Co. Ltd.	240,000		2,650,714
Nippon Thompson Co. Ltd.	834,000		4,748,820
Nitto Kohki Co. Ltd.	38,000		802,769
Obic Co. Ltd.	11,680		2,184,097
Osaka Securities Exchange Co. Ltd.	1,208		6,717,807
OSG Corp. (c)	139,800		1,533,200
Pal Co. Ltd.	17,850		362,458
SAZABY, Inc.	46,800		598,803
Common Stocks - continued
	Shares		Value
Japan - continued
SHO-BOND Holdings Co. Ltd.	119,500		$ 2,018,805
Shoei Co. Ltd.	45,300		492,795
The Daishi Bank Ltd., Niigata	307,000		1,030,475
The Nippon Synthetic Chemical Industry Co. Ltd. (c)	210,000		1,495,846
THK Co. Ltd.	120,100		2,382,841
Toho Holdings Co. Ltd.	138,500		1,835,006
Tsumura & Co.	61,500		1,948,488
Tsutsumi Jewelry Co. Ltd.	41,100		784,028
USS Co. Ltd.	89,490		5,432,648
Yamato Kogyo Co. Ltd.	101,100		3,198,644
TOTAL JAPAN			76,542,557
Korea (South) - 0.5%
NHN Corp. (a)	11,461		1,710,892
Luxembourg - 0.2%
GlobeOp Financial Services SA	223,700		763,401
Mexico - 0.8%
Cemex SA de CV sponsored ADR	133,643		1,228,179
Desarrolladora Homex SAB de CV sponsored ADR (a)(c)	56,300		1,725,595
TOTAL MEXICO			2,953,774
Netherlands - 3.5%
Aalberts Industries NV	160,400		2,332,821
ASM International NV (NASDAQ) (a)	94,700		2,172,418
Heijmans NV unit (a)	81,690		1,457,644
James Hardie Industries NV sponsored ADR (a)	84,775		2,813,682
QIAGEN NV (a)	184,700		4,019,072
TOTAL NETHERLANDS			12,795,637
Norway - 0.4%
Sevan Marine ASA (a)(c)	1,018,000		1,465,276
Papua New Guinea - 0.6%
Lihir Gold Ltd. sponsored ADR (c)	60,100		1,457,425
Oil Search Ltd.	138,539		644,366
TOTAL PAPUA NEW GUINEA			2,101,791
Philippines - 0.4%
Jollibee Food Corp.	1,473,200		1,663,290
Singapore - 3.0%
Allgreen Properties Ltd.	2,221,000		1,847,872
Keppel Land Ltd.	533,000		1,243,193
Common Stocks - continued
	Shares		Value
Singapore - continued
Singapore Exchange Ltd.	1,011,000		$ 5,744,277
Wing Tai Holdings Ltd.	1,685,000		2,360,498
TOTAL SINGAPORE			11,195,840
South Africa - 2.9%
African Rainbow Minerals Ltd.	209,900		4,626,138
Blue Financial Services Ltd. (a)	2,384,043		121,976
Clicks Group Ltd.	576,072		2,002,717
JSE Ltd.	238,681		1,769,144
Mr. Price Group Ltd.	454,500		2,098,215
TOTAL SOUTH AFRICA			10,618,190
Spain - 1.2%
Grifols SA	31,032		473,022
Prosegur Compania de Seguridad SA (Reg.)	86,609		3,922,081
TOTAL SPAIN			4,395,103
Sweden - 1.1%
Intrum Justitia AB	188,800		2,298,430
Swedish Match Co.	89,800		1,880,332
TOTAL SWEDEN			4,178,762
Switzerland - 2.4%
Actelion Ltd. (Reg.) (a)	13,655		722,412
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	142,537		4,866,823
Sonova Holding AG Class B	25,903		3,205,854
TOTAL SWITZERLAND			8,795,089
Taiwan - 0.2%
Prime View International Co. Ltd. (a)	386,000		707,636
Prime View International Co. Ltd. sponsored GDR (a)(d)	5,900		108,226
TOTAL TAIWAN			815,862
Turkey - 2.4%
Albaraka Turk Katilim Bankasi AS	932,000		1,519,142
Anadolu Efes Biracilik ve Malt Sanyii AS	119,000		1,240,122
Asya Katilim Bankasi AS (a)	1,231,000		3,256,461
Coca-Cola Icecek AS	226,000		1,887,171
Tupras-Turkiye Petrol Rafinerileri AS	37,800		789,105
TOTAL TURKEY			8,692,001
United Kingdom - 17.5%
AMEC PLC	69,123		833,006
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Babcock International Group PLC	367,700		$ 3,283,346
Begbies Traynor Group PLC	1,026,700		1,499,156
Bellway PLC	178,772		2,106,165
BlueBay Asset Management	152,813		802,583
Bovis Homes Group PLC (a)	356,352		2,252,368
Britvic PLC	278,800		1,869,430
Chloride Group PLC	580,443		1,688,260
Cobham PLC	408,800		1,512,565
Derwent London PLC	92,000		1,914,907
Great Portland Estates PLC	547,489		2,445,517
H&T Group PLC	312,874		1,287,664
InterContinental Hotel Group PLC ADR	172,900		2,467,283
Johnson Matthey PLC	114,389		2,659,254
Meggitt PLC	592,400		2,439,962
Mothercare PLC	232,901		2,382,046
Persimmon PLC (a)	193,463		1,328,099
Quintain Estates & Development PLC (a)	1,307,224		1,220,742
Rotork PLC	71,500		1,440,232
Serco Group PLC	570,940		4,538,182
Shaftesbury PLC	381,332		2,308,894
Spectris PLC	178,704		2,170,918
Spirax-Sarco Engineering PLC	212,030		4,232,139
SSL International PLC	438,551		5,434,228
St. Modwen Properties PLC (a)	280,300		840,960
Ted Baker PLC	252,000		1,984,942
Ultra Electronics Holdings PLC	91,869		1,858,215
Unite Group PLC (a)	797,770		3,654,439
Victrex PLC	134,982		1,748,908
TOTAL UNITED KINGDOM			64,204,410
United States of America - 9.2%
Advanced Energy Industries, Inc. (a)	313,719		4,115,993
Airgas, Inc.	41,900		1,770,694
Autoliv, Inc.	83,400		3,570,354
Cymer, Inc. (a)	51,500		1,615,555
Dril-Quip, Inc. (a)	26,500		1,390,985
Evercore Partners, Inc. Class A	42,700		1,275,449
ION Geophysical Corp. (a)	272,289		1,293,373
Juniper Networks, Inc. (a)	77,700		1,929,291
Kansas City Southern (a)	78,500		2,331,450
Lam Research Corp. (a)	25,503		841,854
Martin Marietta Materials, Inc. (c)	15,300		1,211,454
Common Stocks - continued
	Shares		Value
United States of America - continued
Mohawk Industries, Inc. (a)(c)	82,600		$ 3,420,466
PriceSmart, Inc.	310,745		6,218,007
ResMed, Inc. (a)	38,800		1,984,232
Varian Semiconductor Equipment Associates, Inc. (a)	22,200		651,126
TOTAL UNITED STATES OF AMERICA			33,620,283
TOTAL COMMON STOCKS (Cost $283,313,250)		357,550,384
Money Market Funds - 8.1%
Fidelity Cash Central Fund, 0.17% (e)	9,543,261		9,543,261
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	20,138,574		20,138,574
TOTAL MONEY MARKET FUNDS (Cost $29,681,835)		29,681,835
TOTAL INVESTMENT PORTFOLIO - 105.7% (Cost $312,995,085)			387,232,219
NET OTHER ASSETS - (5.7)%			(20,849,722)
NET ASSETS - 100%		$ 366,382,497

Legend

(a) Non-income producing

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

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

(d) 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 $108,226 or 0.0% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,504
Fidelity Securities Lending Cash Central Fund	56,200
Total	$ 57,704

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 76,542,557	$ 76,542,557	$ -	$ -
United Kingdom	64,204,410	2,467,283	61,737,127	-
United States of America	33,620,283	33,620,283	-	-
Canada	18,567,989	18,567,989	-	-
Brazil	14,186,254	14,186,254	-	-
Netherlands	12,795,637	9,005,172	3,790,465	-
Germany	12,681,116	-	12,681,116	-
France	12,373,770	-	12,373,770	-
Singapore	11,195,840	11,195,840	-	-
Other	101,382,528	46,182,580	55,199,948	-
Money Market Funds	29,681,835	29,681,835	-	-
Total Investments in Securities	$ 387,232,219	$ 241,449,793	$ 145,782,426	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $316,482,573. Net unrealized appreciation aggregated $70,749,646, of which $79,565,490 related to appreciated investment securities and $8,815,844 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® International
Value Fund

January 31, 2010

1.844602.103

FIV-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%
	Shares		Value
Australia - 3.1%
AMP Ltd.	46,791		$ 259,007
Macquarie Group Ltd.	45,136		2,001,961
Macquarie Infrastructure Group unit	593,083		637,187
MAp Group unit	194,275		477,570
Wesfarmers Ltd.	29,540		718,582
Westfield Group unit	135,393		1,513,277
TOTAL AUSTRALIA			5,607,584
Bailiwick of Jersey - 1.2%
Informa PLC	183,400		961,041
United Business Media Ltd.	76,900		522,071
WPP PLC	75,986		701,139
TOTAL BAILIWICK OF JERSEY			2,184,251
Bermuda - 1.0%
Seadrill Ltd.	80,900		1,835,686
Brazil - 1.2%
Banco do Brasil SA	29,100		431,946
Banco Santander (Brasil) SA ADR	75,400		907,816
Itau Unibanco Banco Multiplo SA ADR	22,033		422,152
Petroleo Brasileiro SA - Petrobras sponsored ADR	8,100		328,617
TOTAL BRAZIL			2,090,531
Canada - 3.0%
Open Text Corp. (a)	26,500		1,044,090
Petrobank Energy & Resources Ltd. (a)	13,500		666,983
Power Corp. of Canada (sub. vtg.)	24,600		645,540
Suncor Energy, Inc.	27,400		865,074
Toronto-Dominion Bank	35,900		2,115,122
TOTAL CANADA			5,336,809
China - 1.1%
China Merchants Bank Co. Ltd. (H Shares)	324,400		754,598
Industrial & Commercial Bank of China Ltd. (H Shares)	983,000		721,682
Nine Dragons Paper (Holdings) Ltd.	383,000		542,636
TOTAL CHINA			2,018,916
Denmark - 1.2%
Novo Nordisk AS Series B	11,892		804,558
Vestas Wind Systems AS (a)	24,805		1,304,608
TOTAL DENMARK			2,109,166
Common Stocks - continued
	Shares		Value
France - 11.0%
Accor SA	10,064		$ 507,714
AXA SA sponsored ADR (c)	206,500		4,251,835
BNP Paribas SA	37,902		2,707,506
Compagnie de St. Gobain	18,383		878,133
Pernod-Ricard SA	5,538		445,448
PPR SA	4,300		524,351
Sanofi-Aventis	6,400		473,227
Sanofi-Aventis sponsored ADR	47,700		1,755,837
Schneider Electric SA	6,417		661,984
Societe Generale Series A	37,307		2,158,401
Total SA:
Series B	5,400		312,073
sponsored ADR	53,200		3,063,788
Unibail-Rodamco	9,072		1,965,670
TOTAL FRANCE			19,705,967
Germany - 8.8%
Allianz AG sponsored ADR	161,500		1,766,810
BASF AG	16,700		947,830
Bayerische Motoren Werke AG (BMW)	21,041		896,852
Daimler AG	52,200		2,391,282
Deutsche Boerse AG	11,000		720,106
E.ON AG	151,801		5,571,707
Metro AG	13,300		725,470
Munich Re Group (Reg.)	18,304		2,734,193
TOTAL GERMANY			15,754,250
Greece - 0.5%
Hellenic Telecommunications Organization SA	61,294		839,733
Hong Kong - 3.8%
China Overseas Land & Investment Ltd.	272,038		487,737
China Resources Power Holdings Co. Ltd.	396,000		769,155
CNOOC Ltd.	507,000		710,875
Hutchison Whampoa Ltd.	119,000		814,643
Swire Pacific Ltd. (A Shares)	320,300		3,500,468
Techtronic Industries Co. Ltd.	727,500		603,443
TOTAL HONG KONG			6,886,321
Indonesia - 0.3%
PT Bank Rakyat Indonesia Tbk	741,000		606,273
Ireland - 0.9%
CRH PLC sponsored ADR (c)	68,800		1,691,792
Common Stocks - continued
	Shares		Value
Italy - 2.8%
Intesa Sanpaolo SpA	901,481		$ 3,431,488
UniCredit SpA	550,509		1,518,034
TOTAL ITALY			4,949,522
Japan - 19.6%
Credit Saison Co. Ltd.	47,600		592,693
Denso Corp.	39,800		1,174,997
East Japan Railway Co.	28,900		1,943,314
Honda Motor Co. Ltd.	27,400		928,510
Japan Retail Fund Investment Corp.	156		725,823
JSR Corp.	31,400		620,208
KDDI Corp.	101		533,139
Konica Minolta Holdings, Inc.	67,000		685,809
Miraca Holdings, Inc.	34,000		1,020,716
Mitsubishi Estate Co. Ltd.	25,000		406,558
Mitsubishi UFJ Financial Group, Inc.	574,100		2,954,196
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	65,600		336,528
Mitsui & Co. Ltd.	262,700		3,876,331
Nippon Electric Glass Co. Ltd.	31,000		438,197
Obic Co. Ltd.	3,880		725,539
ORIX Corp.	16,480		1,241,431
Promise Co. Ltd. (a)(c)	72,950		675,598
Seven & i Holdings Co., Ltd.	29,100		637,318
Sumitomo Corp.	149,400		1,686,480
Sumitomo Metal Industries Ltd.	330,000		910,269
Sumitomo Mitsui Financial Group, Inc.	47,600		1,547,646
Tokio Marine Holdings, Inc.	21,000		567,630
Tokuyama Corp.	49,000		260,009
Tokyo Electric Power Co.	49,400		1,332,547
Tokyo Gas Co., Ltd.	366,000		1,483,948
Toyota Motor Corp.	131,900		5,073,057
USS Co. Ltd.	11,900		722,411
Xebio Co. Ltd.	20,100		377,640
Yamada Denki Co. Ltd.	25,360		1,632,232
TOTAL JAPAN			35,110,774
Korea (South) - 0.4%
Shinhan Financial Group Co. Ltd. (a)	15,815		553,574
Shinhan Financial Group Co. Ltd. sponsored ADR	2,600		180,128
TOTAL KOREA (SOUTH)			733,702
Common Stocks - continued
	Shares		Value
Luxembourg - 1.2%
ArcelorMittal SA:
(Netherlands)	17,800		$ 689,064
(NY Shares) Class A (c)	37,300		1,442,764
TOTAL LUXEMBOURG			2,131,828
Mexico - 0.1%
America Movil SAB de CV Series L sponsored ADR	6,200		270,630
Netherlands - 2.3%
Gemalto NV (a)	25,400		1,008,317
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	131,968		1,235,787
sponsored ADR (a)	38,700		363,780
Koninklijke Ahold NV	61,333		770,672
Koninklijke KPN NV	50,100		829,552
TOTAL NETHERLANDS			4,208,108
Norway - 1.1%
Aker Solutions ASA	46,400		619,202
DnB NOR ASA (a)	65,400		738,517
Orkla ASA (A Shares)	62,150		560,454
TOTAL NORWAY			1,918,173
Philippines - 0.3%
Philippine Long Distance Telephone Co. sponsored ADR	10,600		593,282
Portugal - 0.5%
Energias de Portugal SA	221,276		877,060
Russia - 0.3%
OAO Gazprom sponsored ADR	21,900		529,980
Singapore - 1.6%
DBS Group Holdings Ltd.	138,000		1,401,344
United Overseas Bank Ltd.	109,000		1,407,602
TOTAL SINGAPORE			2,808,946
South Africa - 1.3%
Impala Platinum Holdings Ltd.	51,800		1,342,127
MTN Group Ltd.	74,100		1,063,974
TOTAL SOUTH AFRICA			2,406,101
Spain - 3.0%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR (c)	32,816		498,475
Banco Santander SA	45,099		639,525
Banco Santander SA sponsored ADR (c)	103,500		1,457,280
Common Stocks - continued
	Shares		Value
Spain - continued
Iberdrola SA	63,200		$ 538,058
Telefonica SA sponsored ADR	30,600		2,190,960
TOTAL SPAIN			5,324,298
Sweden - 0.5%
Telefonaktiebolaget LM Ericsson (B Shares)	85,435		827,915
Switzerland - 5.9%
Roche Holding AG (participation certificate)	28,353		4,756,586
Transocean Ltd. (a)	24,339		2,062,487
UBS AG (NY Shares) (a)	40,200		523,002
Zurich Financial Services AG (Reg.)	15,415		3,277,262
TOTAL SWITZERLAND			10,619,337
Taiwan - 0.7%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	178,100		749,396
Taiwan Semiconductor Manufacturing Co. Ltd.	294,464		566,543
TOTAL TAIWAN			1,315,939
Thailand - 0.3%
Siam Commercial Bank PCL (For. Reg.)	232,200		557,938
United Kingdom - 18.6%
Aberdeen Asset Management PLC	228,700		450,061
Aegis Group PLC	342,500		651,563
Anglo American PLC (United Kingdom) (a)	50,817		1,864,471
BAE Systems PLC	175,400		983,683
Barclays PLC	205,833		879,705
BP PLC sponsored ADR	47,600		2,671,312
Carphone Warehouse Group PLC	251,500		763,155
Centrica PLC	233,225		1,001,212
easyJet PLC (a)	169,400		1,052,037
HSBC Holdings PLC:
(United Kingdom) (Reg.)	164,239		1,758,216
sponsored ADR	38,500		2,060,135
Imperial Tobacco Group PLC	6,300		203,155
International Power PLC	106,057		541,451
Man Group PLC	235,340		881,991
Misys PLC (a)	225,200		769,110
National Grid PLC	64,100		643,784
Prudential PLC	253,551		2,322,130
Rio Tinto PLC (Reg.)	36,402		1,775,093
Royal Dutch Shell PLC Class A sponsored ADR	106,400		5,893,493
Vodafone Group PLC	272,400		581,940
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Vodafone Group PLC sponsored ADR	214,312		$ 4,599,136
Wolseley PLC (a)	48,662		1,070,574
TOTAL UNITED KINGDOM			33,417,407
TOTAL COMMON STOCKS (Cost $199,816,978)		175,268,219
Nonconvertible Preferred Stocks - 1.0%
Italy - 1.0%
Fiat SpA (Risparmio Shares)	64,000		515,130
Telecom Italia SpA (Risparmio Shares)	1,172,100		1,361,441
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $2,184,296)		1,876,571
Money Market Funds - 2.6%
Fidelity Cash Central Fund, 0.17% (d)	837,400		837,400
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	3,766,133		3,766,133
TOTAL MONEY MARKET FUNDS (Cost $4,603,533)		4,603,533
TOTAL INVESTMENT PORTFOLIO - 101.2% (Cost $206,604,807)			181,748,323
NET OTHER ASSETS - (1.2)%			(2,184,389)
NET ASSETS - 100%		$ 179,563,934

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 609
Fidelity Securities Lending Cash Central Fund	15,544
Total	$ 16,153

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 35,110,774	$ 26,155,011	$ 8,955,763	$ -
United Kingdom	33,417,407	15,224,076	18,193,331	-
France	19,705,967	9,071,460	10,634,507	-
Germany	15,754,250	4,158,092	11,596,158	-
Switzerland	10,619,337	2,585,489	8,033,848	-
Hong Kong	6,886,321	6,175,446	710,875	-
Italy	6,826,093	-	6,826,093	-
Australia	5,607,584	5,607,584	-	-
Canada	5,336,809	5,336,809	-	-
Other	37,880,248	21,023,715	16,856,533	-
Money Market Funds	4,603,533	4,603,533	-	-
Total Investments in Securities:	$ 181,748,323	$ 99,941,215	$ 81,807,108	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $207,436,040. Net unrealized depreciation aggregated $25,687,717, of which $12,134,702 related to appreciated investment securities and $37,822,419 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity Advisor International
Value Fund:
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity®
International Value Fund

1.844600.103

AFIV-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%
	Shares		Value
Australia - 3.1%
AMP Ltd.	46,791		$ 259,007
Macquarie Group Ltd.	45,136		2,001,961
Macquarie Infrastructure Group unit	593,083		637,187
MAp Group unit	194,275		477,570
Wesfarmers Ltd.	29,540		718,582
Westfield Group unit	135,393		1,513,277
TOTAL AUSTRALIA			5,607,584
Bailiwick of Jersey - 1.2%
Informa PLC	183,400		961,041
United Business Media Ltd.	76,900		522,071
WPP PLC	75,986		701,139
TOTAL BAILIWICK OF JERSEY			2,184,251
Bermuda - 1.0%
Seadrill Ltd.	80,900		1,835,686
Brazil - 1.2%
Banco do Brasil SA	29,100		431,946
Banco Santander (Brasil) SA ADR	75,400		907,816
Itau Unibanco Banco Multiplo SA ADR	22,033		422,152
Petroleo Brasileiro SA - Petrobras sponsored ADR	8,100		328,617
TOTAL BRAZIL			2,090,531
Canada - 3.0%
Open Text Corp. (a)	26,500		1,044,090
Petrobank Energy & Resources Ltd. (a)	13,500		666,983
Power Corp. of Canada (sub. vtg.)	24,600		645,540
Suncor Energy, Inc.	27,400		865,074
Toronto-Dominion Bank	35,900		2,115,122
TOTAL CANADA			5,336,809
China - 1.1%
China Merchants Bank Co. Ltd. (H Shares)	324,400		754,598
Industrial & Commercial Bank of China Ltd. (H Shares)	983,000		721,682
Nine Dragons Paper (Holdings) Ltd.	383,000		542,636
TOTAL CHINA			2,018,916
Denmark - 1.2%
Novo Nordisk AS Series B	11,892		804,558
Vestas Wind Systems AS (a)	24,805		1,304,608
TOTAL DENMARK			2,109,166
Common Stocks - continued
	Shares		Value
France - 11.0%
Accor SA	10,064		$ 507,714
AXA SA sponsored ADR (c)	206,500		4,251,835
BNP Paribas SA	37,902		2,707,506
Compagnie de St. Gobain	18,383		878,133
Pernod-Ricard SA	5,538		445,448
PPR SA	4,300		524,351
Sanofi-Aventis	6,400		473,227
Sanofi-Aventis sponsored ADR	47,700		1,755,837
Schneider Electric SA	6,417		661,984
Societe Generale Series A	37,307		2,158,401
Total SA:
Series B	5,400		312,073
sponsored ADR	53,200		3,063,788
Unibail-Rodamco	9,072		1,965,670
TOTAL FRANCE			19,705,967
Germany - 8.8%
Allianz AG sponsored ADR	161,500		1,766,810
BASF AG	16,700		947,830
Bayerische Motoren Werke AG (BMW)	21,041		896,852
Daimler AG	52,200		2,391,282
Deutsche Boerse AG	11,000		720,106
E.ON AG	151,801		5,571,707
Metro AG	13,300		725,470
Munich Re Group (Reg.)	18,304		2,734,193
TOTAL GERMANY			15,754,250
Greece - 0.5%
Hellenic Telecommunications Organization SA	61,294		839,733
Hong Kong - 3.8%
China Overseas Land & Investment Ltd.	272,038		487,737
China Resources Power Holdings Co. Ltd.	396,000		769,155
CNOOC Ltd.	507,000		710,875
Hutchison Whampoa Ltd.	119,000		814,643
Swire Pacific Ltd. (A Shares)	320,300		3,500,468
Techtronic Industries Co. Ltd.	727,500		603,443
TOTAL HONG KONG			6,886,321
Indonesia - 0.3%
PT Bank Rakyat Indonesia Tbk	741,000		606,273
Ireland - 0.9%
CRH PLC sponsored ADR (c)	68,800		1,691,792
Common Stocks - continued
	Shares		Value
Italy - 2.8%
Intesa Sanpaolo SpA	901,481		$ 3,431,488
UniCredit SpA	550,509		1,518,034
TOTAL ITALY			4,949,522
Japan - 19.6%
Credit Saison Co. Ltd.	47,600		592,693
Denso Corp.	39,800		1,174,997
East Japan Railway Co.	28,900		1,943,314
Honda Motor Co. Ltd.	27,400		928,510
Japan Retail Fund Investment Corp.	156		725,823
JSR Corp.	31,400		620,208
KDDI Corp.	101		533,139
Konica Minolta Holdings, Inc.	67,000		685,809
Miraca Holdings, Inc.	34,000		1,020,716
Mitsubishi Estate Co. Ltd.	25,000		406,558
Mitsubishi UFJ Financial Group, Inc.	574,100		2,954,196
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	65,600		336,528
Mitsui & Co. Ltd.	262,700		3,876,331
Nippon Electric Glass Co. Ltd.	31,000		438,197
Obic Co. Ltd.	3,880		725,539
ORIX Corp.	16,480		1,241,431
Promise Co. Ltd. (a)(c)	72,950		675,598
Seven & i Holdings Co., Ltd.	29,100		637,318
Sumitomo Corp.	149,400		1,686,480
Sumitomo Metal Industries Ltd.	330,000		910,269
Sumitomo Mitsui Financial Group, Inc.	47,600		1,547,646
Tokio Marine Holdings, Inc.	21,000		567,630
Tokuyama Corp.	49,000		260,009
Tokyo Electric Power Co.	49,400		1,332,547
Tokyo Gas Co., Ltd.	366,000		1,483,948
Toyota Motor Corp.	131,900		5,073,057
USS Co. Ltd.	11,900		722,411
Xebio Co. Ltd.	20,100		377,640
Yamada Denki Co. Ltd.	25,360		1,632,232
TOTAL JAPAN			35,110,774
Korea (South) - 0.4%
Shinhan Financial Group Co. Ltd. (a)	15,815		553,574
Shinhan Financial Group Co. Ltd. sponsored ADR	2,600		180,128
TOTAL KOREA (SOUTH)			733,702
Common Stocks - continued
	Shares		Value
Luxembourg - 1.2%
ArcelorMittal SA:
(Netherlands)	17,800		$ 689,064
(NY Shares) Class A (c)	37,300		1,442,764
TOTAL LUXEMBOURG			2,131,828
Mexico - 0.1%
America Movil SAB de CV Series L sponsored ADR	6,200		270,630
Netherlands - 2.3%
Gemalto NV (a)	25,400		1,008,317
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	131,968		1,235,787
sponsored ADR (a)	38,700		363,780
Koninklijke Ahold NV	61,333		770,672
Koninklijke KPN NV	50,100		829,552
TOTAL NETHERLANDS			4,208,108
Norway - 1.1%
Aker Solutions ASA	46,400		619,202
DnB NOR ASA (a)	65,400		738,517
Orkla ASA (A Shares)	62,150		560,454
TOTAL NORWAY			1,918,173
Philippines - 0.3%
Philippine Long Distance Telephone Co. sponsored ADR	10,600		593,282
Portugal - 0.5%
Energias de Portugal SA	221,276		877,060
Russia - 0.3%
OAO Gazprom sponsored ADR	21,900		529,980
Singapore - 1.6%
DBS Group Holdings Ltd.	138,000		1,401,344
United Overseas Bank Ltd.	109,000		1,407,602
TOTAL SINGAPORE			2,808,946
South Africa - 1.3%
Impala Platinum Holdings Ltd.	51,800		1,342,127
MTN Group Ltd.	74,100		1,063,974
TOTAL SOUTH AFRICA			2,406,101
Spain - 3.0%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR (c)	32,816		498,475
Banco Santander SA	45,099		639,525
Banco Santander SA sponsored ADR (c)	103,500		1,457,280
Common Stocks - continued
	Shares		Value
Spain - continued
Iberdrola SA	63,200		$ 538,058
Telefonica SA sponsored ADR	30,600		2,190,960
TOTAL SPAIN			5,324,298
Sweden - 0.5%
Telefonaktiebolaget LM Ericsson (B Shares)	85,435		827,915
Switzerland - 5.9%
Roche Holding AG (participation certificate)	28,353		4,756,586
Transocean Ltd. (a)	24,339		2,062,487
UBS AG (NY Shares) (a)	40,200		523,002
Zurich Financial Services AG (Reg.)	15,415		3,277,262
TOTAL SWITZERLAND			10,619,337
Taiwan - 0.7%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	178,100		749,396
Taiwan Semiconductor Manufacturing Co. Ltd.	294,464		566,543
TOTAL TAIWAN			1,315,939
Thailand - 0.3%
Siam Commercial Bank PCL (For. Reg.)	232,200		557,938
United Kingdom - 18.6%
Aberdeen Asset Management PLC	228,700		450,061
Aegis Group PLC	342,500		651,563
Anglo American PLC (United Kingdom) (a)	50,817		1,864,471
BAE Systems PLC	175,400		983,683
Barclays PLC	205,833		879,705
BP PLC sponsored ADR	47,600		2,671,312
Carphone Warehouse Group PLC	251,500		763,155
Centrica PLC	233,225		1,001,212
easyJet PLC (a)	169,400		1,052,037
HSBC Holdings PLC:
(United Kingdom) (Reg.)	164,239		1,758,216
sponsored ADR	38,500		2,060,135
Imperial Tobacco Group PLC	6,300		203,155
International Power PLC	106,057		541,451
Man Group PLC	235,340		881,991
Misys PLC (a)	225,200		769,110
National Grid PLC	64,100		643,784
Prudential PLC	253,551		2,322,130
Rio Tinto PLC (Reg.)	36,402		1,775,093
Royal Dutch Shell PLC Class A sponsored ADR	106,400		5,893,493
Vodafone Group PLC	272,400		581,940
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Vodafone Group PLC sponsored ADR	214,312		$ 4,599,136
Wolseley PLC (a)	48,662		1,070,574
TOTAL UNITED KINGDOM			33,417,407
TOTAL COMMON STOCKS (Cost $199,816,978)		175,268,219
Nonconvertible Preferred Stocks - 1.0%
Italy - 1.0%
Fiat SpA (Risparmio Shares)	64,000		515,130
Telecom Italia SpA (Risparmio Shares)	1,172,100		1,361,441
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $2,184,296)		1,876,571
Money Market Funds - 2.6%
Fidelity Cash Central Fund, 0.17% (d)	837,400		837,400
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	3,766,133		3,766,133
TOTAL MONEY MARKET FUNDS (Cost $4,603,533)		4,603,533
TOTAL INVESTMENT PORTFOLIO - 101.2% (Cost $206,604,807)			181,748,323
NET OTHER ASSETS - (1.2)%			(2,184,389)
NET ASSETS - 100%		$ 179,563,934

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 609
Fidelity Securities Lending Cash Central Fund	15,544
Total	$ 16,153

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 35,110,774	$ 26,155,011	$ 8,955,763	$ -
United Kingdom	33,417,407	15,224,076	18,193,331	-
France	19,705,967	9,071,460	10,634,507	-
Germany	15,754,250	4,158,092	11,596,158	-
Switzerland	10,619,337	2,585,489	8,033,848	-
Hong Kong	6,886,321	6,175,446	710,875	-
Italy	6,826,093	-	6,826,093	-
Australia	5,607,584	5,607,584	-	-
Canada	5,336,809	5,336,809	-	-
Other	37,880,248	21,023,715	16,856,533	-
Money Market Funds	4,603,533	4,603,533	-	-
Total Investments in Securities:	$ 181,748,323	$ 99,941,215	$ 81,807,108	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $207,436,040. Net unrealized depreciation aggregated $25,687,717, of which $12,134,702 related to appreciated investment securities and $37,822,419 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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® Japan Fund -
Japan Fund
Class F

January 31, 2010

1.813056.105

JPN-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 91.2%
	Shares		Value
CONSUMER DISCRETIONARY - 19.2%
Auto Components - 4.9%
Bridgestone Corp.	231,600		$ 3,712,476
Denso Corp.	553,100		16,328,918
NGK Spark Plug Co. Ltd.	204,000		2,375,141
NOK Corp.	364,400		5,433,504
Stanley Electric Co. Ltd.	1,034,200		19,820,161
Toyoda Gosei Co. Ltd.	150,500		4,168,051
			51,838,251
Automobiles - 5.5%
Honda Motor Co. Ltd.	832,100		28,197,571
Toyota Motor Corp.	571,000		21,961,450
Yamaha Motor Co. Ltd.	575,400		7,872,150
			58,031,171
Household Durables - 2.5%
Sekisui House Ltd.	2,253,000		21,339,481
Sony Corp.	144,300		4,812,376
			26,151,857
Leisure Equipment & Products - 1.4%
Nikon Corp.	732,400		15,099,106
Media - 1.8%
Fuji Media Holdings, Inc.	12,375		18,616,649
Multiline Retail - 1.0%
Isetan Mitsukoshi Holdings Ltd.	596,840		5,626,574
Takashimaya Co. Ltd. (c)	670,000		4,898,637
			10,525,211
Specialty Retail - 2.1%
Nishimatsuya Chain Co. Ltd. (c)	576,300		4,979,661
Shimachu Co. Ltd.	150,000		3,062,479
Yamada Denki Co. Ltd.	215,220		13,852,090
			21,894,230
TOTAL CONSUMER DISCRETIONARY			202,156,475
CONSUMER STAPLES - 1.6%
Beverages - 0.2%
Coca-Cola West Co. Ltd.	101,400		1,690,562
Food & Staples Retailing - 1.2%
FamilyMart Co. Ltd.	289,500		9,156,115
Seven & i Holdings Co., Ltd.	181,600		3,977,215
			13,133,330
Personal Products - 0.2%
Kose Corp.	101,100		2,043,951
TOTAL CONSUMER STAPLES			16,867,843
	Shares		Value
FINANCIALS - 24.5%
Capital Markets - 1.5%
Matsui Securities Co. Ltd. (c)	563,000		$ 3,848,133
Nomura Holdings, Inc.	1,559,900		11,661,609
			15,509,742
Commercial Banks - 9.1%
Chiba Bank Ltd.	1,299,000		7,857,029
Mitsubishi UFJ Financial Group, Inc.	6,716,400		34,561,161
Seven Bank Ltd.	1,656		3,459,860
Sumitomo Mitsui Financial Group, Inc.	915,100		29,753,167
Sumitomo Trust & Banking Co. Ltd.	3,585,000		19,976,237
			95,607,454
Consumer Finance - 3.2%
Credit Saison Co. Ltd.	863,400		10,750,654
ORIX Corp.	306,920		23,120,150
			33,870,804
Insurance - 6.9%
Mitsui Sumitomo Insurance Group Holdings, Inc.	230,300		5,778,547
Sompo Japan Insurance, Inc.	3,772,000		24,695,379
Sony Financial Holdings, Inc.	1,963		5,382,103
T&D Holdings, Inc.	1,789,100		37,121,792
			72,977,821
Real Estate Investment Trusts - 1.6%
Japan Real Estate Investment Corp.	1,060		8,889,110
Nomura Real Estate Office Fund, Inc.	1,412		8,165,104
			17,054,214
Real Estate Management & Development - 2.2%
Mitsubishi Estate Co. Ltd.	1,396,000		22,702,204
TOTAL FINANCIALS			257,722,239
HEALTH CARE - 1.5%
Health Care Providers & Services - 0.6%
Alfresa Holdings Corp.	159,600		6,585,909
Pharmaceuticals - 0.9%
Astellas Pharma, Inc.	137,400		5,083,815
Daiichi Sankyo Kabushiki Kaisha	202,500		4,221,834
			9,305,649
TOTAL HEALTH CARE			15,891,558
INDUSTRIALS - 17.4%
Air Freight & Logistics - 0.5%
Yamato Holdings Co. Ltd.	420,000		5,783,316
Building Products - 1.9%
Asahi Glass Co. Ltd.	868,000		8,711,731
Daikin Industries Ltd.	296,900		11,034,668
			19,746,399
Construction & Engineering - 0.2%
Kandenko Co. Ltd.	280,000		1,786,640
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - 2.3%
Mitsubishi Electric Corp. (a)	1,586,000		$ 12,421,646
Sumitomo Electric Industries Ltd.	888,700		11,705,597
			24,127,243
Machinery - 3.5%
Fanuc Ltd.	58,300		5,592,976
JTEKT Corp.	475,700		5,433,108
Kubota Corp.	977,000		8,799,169
NGK Insulators Ltd.	390,000		8,511,133
NSK Ltd.	1,095,000		7,969,591
			36,305,977
Marine - 0.2%
Mitsui O.S.K. Lines Ltd.	369,000		2,313,659
Road & Rail - 1.8%
East Japan Railway Co.	261,300		17,570,521
Nippon Express Co. Ltd.	277,000		1,166,057
			18,736,578
Trading Companies & Distributors - 5.8%
Itochu Corp.	1,338,000		10,494,117
Mitsubishi Corp.	681,700		16,515,762
Mitsui & Co. Ltd.	1,473,000		21,735,193
Sumitomo Corp.	1,079,900		12,190,296
			60,935,368
Transportation Infrastructure - 1.2%
The Sumitomo Warehouse Co. Ltd.	2,944,000		12,947,468
TOTAL INDUSTRIALS			182,682,648
INFORMATION TECHNOLOGY - 14.5%
Computers & Peripherals - 0.7%
Fujitsu Ltd.	1,223,000		7,532,823
Electronic Equipment & Components - 6.0%
Fujifilm Holdings Corp.	30,500		976,819
Horiba Ltd.	197,200		4,729,567
Ibiden Co. Ltd.	214,100		7,352,498
Kyocera Corp.	17,900		1,619,975
Nippon Electric Glass Co. Ltd.	747,000		10,559,122
Yamatake Corp.	835,400		18,351,591
Yaskawa Electric Corp.	1,427,000		11,840,290
Yokogawa Electric Corp.	893,000		7,221,557
			62,651,419
Internet Software & Services - 0.3%
Yahoo! Japan Corp.	7,758		2,943,519
IT Services - 0.5%
NTT Data Corp.	1,701		5,295,015
Office Electronics - 5.8%
Canon, Inc.	1,106,000		43,229,008
	Shares		Value
Konica Minolta Holdings, Inc.	1,313,000		$ 13,439,813
Ricoh Co. Ltd.	286,000		4,099,745
			60,768,566
Semiconductors & Semiconductor Equipment - 1.2%
ROHM Co. Ltd.	83,300		5,619,774
Tokyo Electron Ltd.	117,100		7,160,651
			12,780,425
TOTAL INFORMATION TECHNOLOGY			151,971,767
MATERIALS - 6.3%
Chemicals - 4.7%
JSR Corp.	754,700		14,906,725
Nissan Chemical Industries Co. Ltd.	588,000		7,764,440
Nitto Denko Corp.	311,600		11,995,236
Shin-Etsu Chemical Co., Ltd.	164,300		8,609,050
Ube Industries Ltd.	950,000		2,462,612
Zeon Corp.	695,000		3,433,810
			49,171,873
Metals & Mining - 1.6%
Nippon Steel Corp.	1,036,000		3,775,828
Sumitomo Metal Industries Ltd.	4,927,000		13,590,594
			17,366,422
TOTAL MATERIALS			66,538,295
TELECOMMUNICATION SERVICES - 5.5%
Wireless Telecommunication Services - 5.5%
NTT DoCoMo, Inc.	38,348		57,400,219
UTILITIES - 0.7%
Gas Utilities - 0.7%
Tokyo Gas Co., Ltd.	1,784,000		7,233,233
TOTAL COMMON STOCKS (Cost $1,073,719,953)		958,464,277
Money Market Funds - 9.5%
Fidelity Cash Central Fund, 0.17% (d)	93,813,862		93,813,862
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	6,281,675		6,281,675
TOTAL MONEY MARKET FUNDS (Cost $100,095,537)		100,095,537

TOTAL INVESTMENT PORTFOLIO - 100.7% (Cost $1,173,815,490) 1,058,559,814

NET OTHER ASSETS - (0.7)%		(7,636,231)
NET ASSETS - 100%	$ 1,050,923,583

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 31,279
Fidelity Securities Lending Cash Central Fund	10,944
Total	$ 42,223

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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	$ 202,156,475	$ 147,185,078	$ 54,971,397	$ -
Consumer Staples	16,867,843	16,867,843	-	-
Financials	257,722,239	211,499,469	46,222,770	-
Health Care	15,891,558	15,891,558	-	-
Industrials	182,682,648	182,682,648	-	-
Information Technology	151,971,767	106,145,965	45,825,802	-
Materials	66,538,295	66,538,295	-	-
Telecommunication Services	57,400,219	-	57,400,219	-
Utilities	7,233,233	7,233,233	-	-
Money Market Funds	100,095,537	100,095,537	-	-
Total Investments in Securities:	$ 1,058,559,814	$ 854,139,626	$ 204,420,188	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $1,202,364,100. Net unrealized depreciation aggregated $143,804,286, of which $46,753,437 related to appreciated investment securities and $190,557,723 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Japan Smaller Companies Fund

January 31, 2010

1.813017.105

JSC-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value
CONSUMER DISCRETIONARY - 32.5%
Auto Components - 8.3%
Koito Manufacturing Co. Ltd.	264,000		$ 4,638,351
Nippon Seiki Co. Ltd.	50,000		552,232
Nissin Kogyo Co. Ltd.	51,900		804,344
Stanley Electric Co. Ltd.	1,004,100		19,243,303
Toyoda Gosei Co. Ltd.	169,400		4,691,481
Yachiyo Industry Co. Ltd.	97,000		722,100
			30,651,811
Automobiles - 5.0%
Fuji Heavy Industries Ltd. (a)	340,000		1,600,753
Honda Motor Co. Ltd.	445,200		15,086,598
Mazda Motor Corp. (a)	645,000		1,750,582
			18,437,933
Hotels, Restaurants & Leisure - 0.3%
Kappa Create Co. Ltd. (c)	67,200		1,359,335
Household Durables - 6.7%
Arnest One Corp. (c)	857,300		9,041,205
Haseko Corp. (a)	4,388,500		3,694,760
Hitachi Koki Co. Ltd. (c)	258,500		2,766,268
Sanyo Electric Co. Ltd. (a)	911,000		1,533,976
Sony Corp.	231,900		7,733,819
			24,770,028
Internet & Catalog Retail - 4.2%
DeNA Co. Ltd. (c)	1,132		6,545,962
Rakuten, Inc.	2,165		1,772,388
Start Today Co. Ltd. (c)	3,784		7,142,944
			15,461,294
Leisure Equipment & Products - 0.7%
Kimoto Co. Ltd.	203,300		2,044,936
SHIMANO, Inc.	14,600		599,236
			2,644,172
Media - 1.3%
CyberAgent, Inc. (c)	2,284		3,997,696
Opt, Inc.	664		915,786
			4,913,482
Multiline Retail - 0.9%
Ryohin Keikaku Co. Ltd.	71,500		3,045,502
Zakkaya Bulldog Co. Ltd.	61,300		188,782
			3,234,284
Specialty Retail - 4.9%
ABC-Mart, Inc.	6,400		197,807
Megane TOP Co. Ltd. (c)	722,190		7,448,309
Point, Inc.	184,850		10,607,322
			18,253,438
Textiles, Apparel & Luxury Goods - 0.2%
Japan Vilene Co. Ltd.	162,000		744,766
TOTAL CONSUMER DISCRETIONARY			120,470,543
	Shares		Value
CONSUMER STAPLES - 5.5%
Food & Staples Retailing - 0.1%
Aeon Co. Ltd.	60,300		$ 602,532
Household Products - 5.4%
Pigeon Corp.	305,400		11,993,386
Uni-Charm Corp.	83,100		7,898,504
			19,891,890
TOTAL CONSUMER STAPLES			20,494,422
FINANCIALS - 21.3%
Capital Markets - 2.2%
Nomura Holdings, Inc.	1,107,300		8,278,030
Commercial Banks - 2.8%
Mitsubishi UFJ Financial Group, Inc.	210,300		1,082,159
Sumitomo Mitsui Financial Group, Inc.	288,300		9,373,662
			10,455,821
Consumer Finance - 5.7%
ORIX Corp.	266,400		20,067,803
Promise Co. Ltd. (a)(c)	116,200		1,076,140
			21,143,943
Diversified Financial Services - 5.1%
Japan Securities Finance Co. Ltd.	481,100		3,975,857
Osaka Securities Exchange Co. Ltd.	2,651		14,742,461
			18,718,318
Insurance - 3.0%
Aioi Insurance Co. Ltd.	672,000		3,201,063
Fuji Fire & Marine Insurance Co. Ltd. (a)	3,149,000		3,488,423
T&D Holdings, Inc.	218,300		4,529,477
			11,218,963
Real Estate Management & Development - 2.5%
Airport Facilities Co. Ltd.	182,700		969,462
Nisshin Fudosan Co. Ltd.	67,700		285,739
Nomura Real Estate Holdings, Inc.	71,400		1,074,124
Shoei Co.	309,300		2,412,177
Takara Leben Co. Ltd. (a)	336,300		2,525,882
Toc Co. Ltd.	115,500		458,059
Toho Real Estate Co. Ltd.	35,300		192,005
Tokyo Tatemono Co. Ltd.	309,000		1,225,457
			9,142,905
TOTAL FINANCIALS			78,957,980
HEALTH CARE - 1.9%
Biotechnology - 1.0%
Sosei Group Corp. (a)	3,606		3,719,049
Health Care Equipment & Supplies - 0.7%
Sysmex Corp.	42,700		2,393,508
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - 0.2%
Mitsubishi Tanabe Pharma Corp.	56,000		$ 795,303
TOTAL HEALTH CARE			6,907,860
INDUSTRIALS - 14.5%
Building Products - 6.9%
Central Glass Co. Ltd.	190,000		785,089
Daikin Industries Ltd.	523,700		19,463,979
Nichias Corp. (a)	1,133,000		4,192,112
Nippon Sheet Glass Co. Ltd.	211,000		546,959
Shinko Kogyo Co. Ltd.	232,000		783,870
			25,772,009
Construction & Engineering - 0.1%
Yahagi Construction Co. Ltd.	53,000		315,287
Electrical Equipment - 4.2%
Mitsubishi Electric Corp. (a)	418,000		3,273,801
Nippon Carbon Co. Ltd.	344,000		979,373
NPC, Inc. (c)	105,500		2,640,130
Panasonic Electric Works Co., Ltd.	793,000		8,714,478
			15,607,782
Machinery - 2.4%
HIRANO TECSEED Co. Ltd.	172,000		1,857,760
Kubota Corp.	229,000		2,062,446
Miura Co. Ltd.	60,600		1,566,188
Nitta Corp.	228,100		3,350,621
			8,837,015
Professional Services - 0.0%
Outsourcing, Inc.	390		154,453
Road & Rail - 0.6%
West Japan Railway Co.	654		2,256,796
Trading Companies & Distributors - 0.3%
Itochu Corp.	132,000		1,035,294
TOTAL INDUSTRIALS			53,978,636
INFORMATION TECHNOLOGY - 14.9%
Computers & Peripherals - 2.4%
Mutoh Holdings Co. Ltd. (a)	270,000		424,726
Toshiba Corp. (a)	1,535,000		8,451,257
			8,875,983
Electronic Equipment & Components - 1.5%
Horiba Ltd.	87,100		2,088,972
	Shares		Value
Nippon Chemi-con Corp. (a)	397,000		$ 1,468,904
Origin Electric Co. Ltd.	489,000		2,150,581
			5,708,457
Internet Software & Services - 4.4%
GREE, Inc.	81,000		4,719,840
Kakaku.com, Inc. (c)	2,077		7,661,914
mixi, Inc. (a)(c)	607		4,088,357
			16,470,111
IT Services - 0.2%
CAC Corp.	72,700		505,767
SBI VeriTrans Co., Ltd.	562		273,000
			778,767
Office Electronics - 0.8%
Ricoh Co. Ltd.	196,000		2,809,615
Semiconductors & Semiconductor Equipment - 5.2%
Elpida Memory, Inc. (a)	727,000		12,893,840
Ferrotec Corp. (c)	325,300		3,783,815
Samco, Inc.	20,300		483,494
Sumco Corp.	132,900		2,293,765
			19,454,914
Software - 0.4%
Nintendo Co. Ltd.	4,700		1,310,298
TOTAL INFORMATION TECHNOLOGY			55,408,145
MATERIALS - 7.3%
Chemicals - 5.2%
Ishihara Sangyo Kaisha Ltd. (a)	2,467,000		1,885,709
JSR Corp.	140,300		2,771,185
Kanto Denka Kogyo Co. Ltd. (c)	586,000		4,044,289
Stella Chemifa Corp. (c)	104,400		5,424,127
Tanaka Chemical Corp. (c)	92,000		1,811,056
Toda Kogyo Corp. (c)	364,000		2,447,635
Ube Industries Ltd.	373,000		966,899
			19,350,900
Metals & Mining - 2.1%
Chuo Denki Kogyo Co. Ltd.	71,200		513,473
Sumitomo Metal Mining Co. Ltd.	56,000		782,896
Tokyo Rope Manufacturing Co. Ltd. (c)	748,000		1,889,265
Toyo Kohan Co. Ltd.	388,000		1,977,179
Yamato Kogyo Co. Ltd.	77,700		2,458,305
			7,621,118
TOTAL MATERIALS			26,972,018
TELECOMMUNICATION SERVICES - 1.4%
Wireless Telecommunication Services - 1.4%
SOFTBANK CORP.	198,500		5,059,804
TOTAL COMMON STOCKS (Cost $331,601,046)		368,249,408
Money Market Funds - 8.5%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (d)	3,443,743		$ 3,443,743
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	27,924,464		27,924,464
TOTAL MONEY MARKET FUNDS (Cost $31,368,207)		31,368,207

TOTAL INVESTMENT PORTFOLIO - 107.8% (Cost $362,969,253) 399,617,615

NET OTHER ASSETS - (7.8)%		(28,862,092)
NET ASSETS - 100%	$ 370,755,523

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 538
Fidelity Securities Lending Cash Central Fund	236,379
Total	$ 236,917

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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	$ 120,470,543	$ 97,650,126	$ 22,820,417	$ -
Consumer Staples	20,494,422	20,494,422	-	-
Financials	78,957,980	69,597,791	9,360,189	-
Health Care	6,907,860	6,907,860	-	-
Industrials	53,978,636	53,978,636	-	-
Information Technology	55,408,145	54,097,847	1,310,298	-
Materials	26,972,018	26,972,018	-	-
Telecommunication Services	5,059,804	5,059,804	-	-
Money Market Funds	31,368,207	31,368,207	-	-
Total Investments in Securities:	$ 399,617,615	$ 366,126,711	$ 33,490,904	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $371,611,458. Net unrealized appreciation aggregated $28,006,157, of which $54,355,836 related to appreciated investment securities and $26,349,679 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Latin America Fund

January 31, 2010

1.813035.105

LAF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.5%
	Shares		Value
Bermuda - 1.0%
Dufry South America Ltd. unit	1,588,954		$ 30,936,134
GP Investments, Ltd. unit (a)	2,604,977		12,990,336
TOTAL BERMUDA			43,926,470
Brazil - 64.2%
AES Tiete SA (PN) (non-vtg.)	6,179,500		61,631,088
Banco Bradesco SA:
(PN)	3,038,420		50,242,733
(PN) sponsored ADR	5,602,410		92,775,910
Brascan Residential Properties SA	4,585,300		19,946,663
Centrais Eletricas Brasileiras SA (Electrobras):
(PN-B) sponsored ADR (c)	1,977,000		36,040,710
sponsored ADR	1,729,300		36,799,504
Companhia de Bebidas das Americas (AmBev):
(PN) sponsored ADR (c)	1,602,626		148,339,063
sponsored ADR	66,745		5,232,808
Companhia de Concessoes Rodoviarias	1,824,400		38,239,811
Companhia de Saneamento de Minas Gerais	61,112		829,956
Companhia Energetica de Minas Gerais (CEMIG):
(PN)	450,800		7,463,909
(PN) sponsored ADR (non-vtg.) (c)	5,183,774		86,413,513
CPFL Energia SA sponsored ADR (c)	418,033		24,701,570
Eletropaulo Metropolitana SA (PN-B)	810,560		15,437,190
Equatorial Energia SA	4,563,223		41,153,735
Gerdau SA sponsored ADR	884,400		11,895,180
Itau Unibanco Banco Multiplo SA	4,381,137		83,532,129
Itau Unibanco Banco Multiplo SA ADR	11,472,462		219,812,372
Light SA	736,900		9,788,847
Lojas Americanas SA (PN)	5,500,000		38,602,122
Net Servicos de Comunicacao SA:
sponsored ADR	549,700		6,502,951
(PN) (a)	8,256,300		95,703,000
Odontoprev SA	375,100		11,340,556
OGX Petroleo e Gas Participacoes SA	4,758,500		42,536,194
Petroleo Brasileiro SA - Petrobras:
(ON)	388,200		7,823,723
(PN) (non-vtg.)	7,321,360		132,056,361
(PN) sponsored ADR (non-vtg.)	5,302,950		191,330,436
sponsored ADR (c)	6,174,720		250,508,390
Souza Cruz Industria Comerico	2,026,100		65,060,919
TAM SA (PN) sponsored ADR (ltd. vtg.)	4,357,900		79,488,096
Tele Norte Leste Participacoes SA:
(ON)	796,500		16,770,867
sponsored ADR (non-vtg.) (c)	2,258,700		40,250,034
TIM Participacoes SA	6,966,500		18,293,992
TIM Participacoes SA sponsored ADR (non-vtg.) (c)	1,070,000		28,108,900
	Shares		Value
Usinas Siderurgicas de Minas Gerais SA - Usiminas:
(ON)	603,375		$ 15,883,007
(PN-A) (non-vtg.)	1,885,750		49,389,643
Vale SA:
(PN-A)	1,842,200		41,095,231
(PN-A) sponsored ADR (c)	14,851,500		335,346,871
sponsored ADR (c)	5,490,600		141,602,574
Vivo Participacoes SA:
(PN)	819,986		23,059,659
sponsored ADR (c)	3,115,900		87,214,041
TOTAL BRAZIL			2,708,244,258
Canada - 0.5%
Jaguar Mining, Inc. (a)	1,506,700		14,780,962
Silver Standard Resources, Inc. (a)	209,200		3,640,080
Silver Wheaton Corp. (a)	279,000		3,848,546
TOTAL CANADA			22,269,588
Chile - 10.1%
Banco de Credito e Inversiones	232,542		8,632,015
Banco Santander Chile sponsored ADR (c)	1,270,275		78,541,103
CAP SA	3,761,744		120,653,387
Cencosud SA	3,441,067		12,143,827
Compania Cervecerias Unidas SA	2,342,923		18,152,171
Compania Cervecerias Unidas SA sponsored ADR	232,257		8,953,507
Empresa Nacional de Electricidad SA	16,797,039		28,649,810
Empresa Nacional de Electricidad SA sponsored ADR (c)	200,699		10,225,614
Empresas La Polar SA	825,361		4,619,207
Enersis SA	46,479,968		21,367,765
Enersis SA sponsored ADR (c)	2,919,600		67,034,016
SACI Falabella	1,794,174		10,126,641
Vina Concha y Toro SA	6,539,741		15,001,122
Vina Concha y Toro SA sponsored ADR	424,250		19,579,138
TOTAL CHILE			423,679,323
Colombia - 0.2%
BanColombia SA sponsored ADR (c)	162,672		7,011,163
Luxembourg - 0.9%
Millicom International Cellular SA	466,250		33,252,950
Ternium SA sponsored ADR (a)(c)	139,500		4,151,520
TOTAL LUXEMBOURG			37,404,470
Mexico - 18.5%
America Movil SAB de CV:
Series L	2,463,900		5,392,039
Series L sponsored ADR	6,573,156		286,918,259
Bolsa Mexicana de Valores SA de CV (a)	3,720,100		4,696,367
Cemex SA de CV sponsored ADR	1,859,900		17,092,481
Coca-Cola FEMSA SAB de CV sponsored ADR	409,115		25,328,310
Common Stocks - continued
	Shares		Value
Mexico - continued
Fomento Economico Mexicano SAB de CV sponsored ADR	1,916,995		$ 80,820,509
Grupo Aeroportuario del Pacifico SA de CV sponsored ADR	2,865,543		90,006,706
Grupo Bimbo SAB de CV Series A	3,626,200		22,805,941
Grupo Modelo SAB de CV Series C (a)	6,744,400		33,288,935
Grupo Televisa SA de CV (CPO) sponsored ADR	1,856,200		36,270,148
Industrias Penoles SA de CV	842,655		15,589,628
Telefonos de Mexico SA de CV:
Series L	7,622,000		6,171,990
Series L sponsored ADR	1,288,746		20,813,248
Wal-Mart de Mexico SA de CV Series V (c)	30,387,216		134,742,423
TOTAL MEXICO			779,936,984
Panama - 0.8%
Copa Holdings SA Class A	663,400		34,483,532
Peru - 2.6%
Compania de Minas Buenaventura SA sponsored ADR	3,457,352		108,837,441
United States of America - 0.7%
NII Holdings, Inc. (a)	721,600		23,625,184
Southern Copper Corp.	279,000		7,429,770
TOTAL UNITED STATES OF AMERICA			31,054,954
TOTAL COMMON STOCKS (Cost $2,819,399,529)		4,196,848,183
Money Market Funds - 6.1%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (d)	13,955,618		$ 13,955,618
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	244,255,850		244,255,850
TOTAL MONEY MARKET FUNDS (Cost $258,211,468)		258,211,468

TOTAL INVESTMENT PORTFOLIO - 105.6% (Cost $3,077,610,997) 4,455,059,651

NET OTHER ASSETS - (5.6)%		(236,750,452)
NET ASSETS - 100%	$ 4,218,309,199

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 31,752
Fidelity Securities Lending Cash Central Fund	122,467
Total	$ 154,219

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Brazil	$ 2,708,244,258	$ 2,707,414,302	$ 829,956	$ -
Mexico	779,936,984	779,936,984	-	-
Chile	423,679,323	423,679,323	-	-
Peru	108,837,441	108,837,441	-	-
Bermuda	43,926,470	43,926,470	-	-
Luxembourg	37,404,470	37,404,470	-	-
Panama	34,483,532	34,483,532	-	-
United States of America	31,054,954	31,054,954	-	-
Canada	22,269,588	22,269,588	-	-
Other	7,011,163	7,011,163	-	-
Money Market Funds	258,211,468	258,211,468	-	-
Total Investments in Securities:	$ 4,455,059,651	$ 4,454,229,695	$ 829,956	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $3,107,950,226. Net unrealized appreciation aggregated $1,347,109,425, of which $1,480,727,269 related to appreciated investment securities and $133,617,844 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Nordic Fund

January 31, 2010

1.813058.105

NOR-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.1%
	Shares		Value
Bermuda - 3.2%
Northern Offshore Ltd. (a)	1,155,000		$ 1,997,698
Scorpion Offshore Ltd. (a)	319,500		1,389,222
Seadrill Ltd. (c)	328,300		7,449,389
TOTAL BERMUDA			10,836,309
Denmark - 20.5%
A.P. Moller - Maersk AS:
Series A	513		3,841,226
Series B	881		6,874,801
Carlsberg AS Series B	99,600		7,427,954
Coloplast AS Series B	35,600		3,860,728
Danske Bank AS (a)	374,453		8,893,863
Flsmidth & Co. A/S	84,300		5,371,459
Novo Nordisk AS Series B	268,804		18,186,029
Novozymes AS Series B	45,700		4,679,401
Vestas Wind Systems AS (a)	82,400		4,333,792
William Demant Holding AS (a)	64,900		5,064,796
TOTAL DENMARK			68,534,049
Finland - 13.5%
Fortum Corp.	295,463		7,497,587
Kone Oyj (B Shares)	107,660		4,335,980
Neste Oil Oyj	83,400		1,364,372
Nokia Corp.	1,088,713		14,938,886
Nokian Tyres PLC (c)	141,900		3,430,607
Outokumpu Oyj (A Shares)	192,115		3,467,209
Sampo OYJ (A Shares)	278,700		6,732,082
Wartsila Corp.	74,400		3,501,669
TOTAL FINLAND			45,268,392
Iceland - 0.2%
Ossur hf (a)	441,370		559,047
Norway - 17.9%
DnB NOR ASA (a)	872,500		9,852,543
Norsk Hydro ASA (a)	755,200		5,476,919
Orkla ASA (A Shares)	534,400		4,819,093
Pronova BioPharma ASA (a)	466,300		1,372,014
Schibsted ASA (B Shares) (a)	80,000		1,753,654
Sevan Marine ASA (a)(c)	851,000		1,224,902
StatoilHydro ASA	645,496		14,485,654
Storebrand ASA (A Shares) (a)	701,500		4,904,199
Telenor ASA (a)	716,500		9,311,970
Yara International ASA	164,400		6,863,569
TOTAL NORWAY			60,064,517
Sweden - 43.8%
Assa Abloy AB (B Shares)	130,200		2,246,493
Atlas Copco AB (A Shares)	394,900		5,353,590
Bilia AB (A Shares) (a)	181,000		1,771,048
Electrolux AB (B Shares) (a)	198,000		4,664,509
Elekta AB (B Shares)	89,000		2,087,818
H&M Hennes & Mauritz AB (B Shares)	178,807		10,522,027
	Shares		Value
Intrum Justitia AB	100,600		$ 1,224,693
Investor AB (B Shares)	340,598		5,995,557
Lundin Petroleum AB (a)	162,200		1,232,545
Modern Times Group MTG AB (B Shares)	57,450		2,634,460
Nordea Bank AB (c)	1,680,100		15,408,278
Rezidor Hotel Group AB (a)	628,900		2,242,301
Sandvik AB	967,100		10,508,254
Scania AB (B Shares)	422,000		5,184,481
Skandinaviska Enskilda Banken AB (A Shares) (a)	863,300		5,112,621
Skanska AB (B Shares)	399,674		6,184,308
SKF AB (B Shares)	454,100		7,015,778
SSAB Svenskt Stal AB:
(A Shares)	263,100		4,252,377
(B Shares)	53,400		790,413
Svenska Cellulosa AB (SCA) (B Shares)	166,000		2,236,366
Svenska Handelsbanken AB (A Shares)	389,700		10,153,877
Swedbank AB (A Shares)	777,958		6,693,666
Swedish Match Co.	85,800		1,796,576
TELE2 AB (B Shares)	142,050		2,001,122
Telefonaktiebolaget LM Ericsson (B Shares)	1,374,286		13,317,629
TeliaSonera AB	1,197,000		8,051,489
Volvo AB (B Shares)	973,900		8,202,934
TOTAL SWEDEN			146,885,210
TOTAL COMMON STOCKS (Cost $288,635,807)		332,147,524
Money Market Funds - 5.1%
Fidelity Cash Central Fund, 0.17% (d)	5,001,935		5,001,935
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	12,030,630		12,030,630
TOTAL MONEY MARKET FUNDS (Cost $17,032,565)		17,032,565

TOTAL INVESTMENT PORTFOLIO - 104.2% (Cost $305,668,372) 349,180,089

NET OTHER ASSETS - (4.2)%		(14,111,113)
NET ASSETS - 100%	$ 335,068,976

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,149
Fidelity Securities Lending Cash Central Fund	7,267
Total	$ 8,416

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Sweden	$ 146,885,210	$ -	$ 146,885,210	$ -
Denmark	68,534,049	-	68,534,049	-
Norway	60,064,517	-	60,064,517	-
Finland	45,268,392	-	45,268,392	-
Bermuda	10,836,309	-	10,836,309	-
Iceland	559,047	-	559,047	-
Money Market Funds	17,032,565	17,032,565	-	-
Total Investments in Securities:	$ 349,180,089	$ 17,032,565	$ 332,147,524	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $309,641,936. Net unrealized appreciation aggregated $39,538,153, of which $61,538,083 related to appreciated investment securities and $21,999,930 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Overseas Fund -
Overseas
Class K
Class F

January 31, 2010

1.813070.105

OVE-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.0%
	Shares		Value
Australia - 2.0%
Macquarie Group Ltd.	475,663		$ 21,097,547
National Australia Bank Ltd.	1,888,338		44,031,647
Qantas Airways Ltd.	10,974,903		27,560,945
Westfield Group unit	4,096,322		45,784,263
TOTAL AUSTRALIA			138,474,402
Austria - 0.6%
Wienerberger AG (a)	2,175,918		40,691,747
Bailiwick of Jersey - 1.1%
Shire PLC	1,533,858		30,377,310
WPP PLC	4,825,683		44,527,574
TOTAL BAILIWICK OF JERSEY			74,904,884
Belgium - 1.0%
Anheuser-Busch InBev SA NV	1,467,654		73,236,258
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,312,640		43,454
TOTAL BELGIUM			73,279,712
Canada - 0.6%
Harry Winston Diamond Corp. (d)	4,282,574		39,369,403
Cayman Islands - 0.4%
Shanda Games Ltd. sponsored ADR (c)	3,226,600		27,426,100
France - 13.8%
Accor SA	776,876		39,192,230
Alstom SA	632,700		42,243,864
Atos Origin SA (a)	742,044		34,509,339
AXA SA	2,184,537		44,979,811
BNP Paribas SA	708,726		50,627,409
Carrefour SA	991,435		48,369,702
Compagnie de St. Gobain	947,517		45,261,724
Danone	1,624,466		92,888,567
LVMH Moet Hennessy - Louis Vuitton	401,637		43,758,786
Pernod-Ricard SA (c)	2,126,367		171,034,072
Sanofi-Aventis	1,142,068		84,446,524
Schneider Electric SA	449,277		46,347,826
Societe Generale Series A	539,408		31,207,520
Total SA Series B	1,805,001		104,313,285
Veolia Environnement	2,182,400		71,652,670
Wendel (c)	398,000		21,614,202
TOTAL FRANCE			972,447,531
Germany - 10.7%
Bayer AG	507,713		34,582,593
Daimler AG	758,200		34,733,142
Deutsche Bank AG (NY Shares)	537,300		32,759,181
Deutsche Boerse AG	1,492,392		97,698,275
Deutsche Postbank AG (a)	1,003,500		30,553,276
E.ON AG	1,460,957		53,622,992
Fresenius Medical Care AG & Co. KGaA	1,089,900		54,971,338
HeidelbergCement AG	1,924,829		115,990,431
Linde AG	341,697		37,352,109
Munich Re Group (Reg.)	342,314		51,133,776
	Shares		Value
SAP AG	2,669,782		$ 120,994,523
Siemens AG (Reg.) (c)	680,607		60,648,891
Software AG (Bearer)	275,300		31,295,505
TOTAL GERMANY			756,336,032
Greece - 1.0%
Greek Organization of Football Prognostics S.A.	1,079,300		23,545,594
Hellenic Telecommunications Organization SA	3,248,025		44,498,231
TOTAL GREECE			68,043,825
Hong Kong - 1.8%
China Unicom (Hong Kong) Ltd. sponsored ADR (c)	6,471,000		72,475,200
Hutchison Whampoa Ltd.	8,144,000		55,751,724
TOTAL HONG KONG			128,226,924
India - 0.4%
Reliance Industries Ltd.	1,328,781		30,139,202
Ireland - 0.6%
Covidien PLC	775,200		39,194,112
CRH PLC	7,092		170,302
TOTAL IRELAND			39,364,414
Italy - 3.5%
Bulgari SpA (c)	11,834,481		96,802,066
ENI SpA	1,317,674		30,623,405
Intesa Sanpaolo SpA	21,122,301		80,402,051
Saipem SpA	430,855		13,948,848
UniCredit SpA	9,824,524		27,091,221
TOTAL ITALY			248,867,591
Japan - 20.8%
Aeon Co. Ltd.	1,425,600		14,244,945
Bridgestone Corp.	1,312,100		21,032,554
Canon, Inc. sponsored ADR (c)	1,173,400		45,891,674
East Japan Railway Co.	1,229,600		82,681,640
Inpex Corp.	2,771		20,259,886
Japan Tobacco, Inc.	10,107		36,612,262
JFE Holdings, Inc.	1,299,000		45,472,913
Kawasaki Kisen Kaisha Ltd. (a)	7,395,000		26,296,609
Kenedix, Inc. (a)(c)	50,975		15,794,513
Keyence Corp.	110,000		25,382,740
Kose Corp.	692,300		13,996,316
Kyocera Corp.	161,900		14,652,176
Marui Group Co. Ltd.	3,072,000		19,057,493
Mazda Motor Corp. (a)	48,159,000		130,707,372
Mitsubishi Corp.	1,439,800		34,882,491
Mitsubishi UFJ Financial Group, Inc.	12,389,800		63,755,266
Mitsui & Co. Ltd.	1,863,000		27,489,929
Mitsui Chemicals, Inc.	8,094,000		21,698,769
Mizuho Financial Group, Inc.	11,887,600		23,045,640
Nomura Holdings, Inc.	2,595,300		19,402,124
Common Stocks - continued
	Shares		Value
Japan - continued
Nomura Real Estate Office Fund, Inc.	1,700		$ 9,830,508
NTT DoCoMo, Inc.	28,727		42,999,271
Omron Corp.	5,076,500		101,170,080
Promise Co. Ltd. (a)(c)	2,466,350		22,841,127
Ricoh Co. Ltd.	8,576,000		122,935,012
SKY Perfect JSAT Holdings, Inc.	28,697		12,286,906
SOFTBANK CORP.	630,300		16,066,470
Sompo Japan Insurance, Inc.	4,997,000		32,715,485
Sony Corp.	638,700		21,300,518
Sony Financial Holdings, Inc.	7,256		19,894,316
Sumitomo Mitsui Financial Group, Inc.	2,047,800		66,581,287
Tokio Marine Holdings, Inc.	801,600		21,667,264
Tokyo Broadcasting System Holding	1,351,600		20,243,305
Tokyo Electron Ltd.	298,000		18,222,665
Tokyo Gas Co., Ltd.	12,760,000		51,735,458
Toshiba Corp. (a)	9,049,000		49,821,123
Toyota Motor Corp. sponsored ADR (c)	1,535,298		118,217,946
Yahoo! Japan Corp.	47,450		18,003,350
TOTAL JAPAN			1,468,889,403
Luxembourg - 1.2%
ArcelorMittal SA (NY Shares) Class A (c)	1,364,200		52,767,256
Millicom International Cellular SA	455,300		32,471,996
TOTAL LUXEMBOURG			85,239,252
Marshall Islands - 0.9%
Teekay Corp.	2,633,600		65,734,656
Netherlands - 0.8%
Akzo Nobel NV	538,463		32,051,804
ING Groep NV (Certificaten Van Aandelen) unit (a)	2,731,800		25,581,384
TOTAL NETHERLANDS			57,633,188
Norway - 0.7%
Aker Solutions ASA	2,646,000		35,310,508
Sevan Marine ASA (a)(c)	11,358,803		16,349,492
TOTAL NORWAY			51,660,000
Russia - 0.5%
Vimpel Communications sponsored ADR	1,833,700		33,263,318
Spain - 2.4%
Banco Santander SA	1,662,300		23,572,199
Gas Natural SDG SA Series E	2,646,100		52,554,996
Indra Sistemas SA	1,215,000		26,371,799
	Shares		Value
Repsol YPF SA sponsored ADR	686,700		$ 16,199,253
Telefonica SA sponsored ADR	742,400		53,155,840
TOTAL SPAIN			171,854,087
Switzerland - 4.2%
Actelion Ltd. (Reg.) (a)	625,980		33,117,186
Givaudan SA	17,366		14,155,481
Nobel Biocare Holding AG (Switzerland)	751,710		22,109,709
Roche Holding AG (participation certificate)	734,077		123,151,015
Swiss Reinsurance Co. (Reg.)	466,189		20,152,337
UBS AG (For. Reg.) (a)	4,775,043		62,273,141
Zurich Financial Services AG (Reg.)	112,038		23,819,520
TOTAL SWITZERLAND			298,778,389
United Kingdom - 25.0%
Anglo American PLC (United Kingdom) (a)	2,589,800		95,019,508
BAE Systems PLC	13,579,700		76,158,032
Barclays PLC	26,924,249		115,070,918
BG Group PLC	5,435,166		99,915,913
British Land Co. PLC	5,532,370		38,387,596
British Sky Broadcasting Group PLC	4,304,500		36,451,240
Centrica PLC	24,028,243		103,150,865
GKN PLC (a)	21,790,043		39,798,191
GlaxoSmithKline PLC	5,383,498		104,770,702
HSBC Holdings PLC sponsored ADR	2,772,671		148,365,625
Imperial Tobacco Group PLC	3,899,548		125,747,958
ITV PLC	41,009,530		36,773,917
Kesa Electricals PLC	15,811,600		32,401,400
Lloyds TSB Group PLC	30,271,410		24,335,689
Man Group PLC	14,486,541		54,291,644
Misys PLC (a)	11,818,200		40,361,879
National Grid PLC	3,339,300		33,538,018
Rexam PLC	4,498,100		21,416,121
Rio Tinto PLC (Reg.)	2,088,310		101,833,525
Royal Dutch Shell PLC Class B ADR	2,512,300		134,106,574
Schroders PLC	361,900		7,151,765
Segro PLC	6,506,400		32,317,023
SIG PLC (a)	13,726,900		24,969,996
Smith & Nephew PLC	5,674,900		57,087,747
Tesco PLC	8,357,644		56,561,332
The Game Group PLC	4,036,100		5,923,312
William Hill PLC (d)	35,584,632		112,862,541
TOTAL UNITED KINGDOM			1,758,769,031
United States of America - 3.0%
Fluor Corp.	1,077,100		48,835,714
NII Holdings, Inc. (a)	2,254,900		73,825,426
Procter & Gamble Co.	1,374,100		84,575,855
TOTAL UNITED STATES OF AMERICA			207,236,995
TOTAL COMMON STOCKS (Cost $6,911,780,482)		6,836,630,086
Money Market Funds - 8.4%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (e)	288,533,847		$ 288,533,847
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	308,190,380		308,190,380
TOTAL MONEY MARKET FUNDS (Cost $596,724,227)		596,724,227

TOTAL INVESTMENT PORTFOLIO - 105.4% (Cost $7,508,504,709)	7,433,354,313
NET OTHER ASSETS - (5.4)%	(383,845,591)
NET ASSETS - 100%	$ 7,049,508,722

Legend

(a) Non-income producing

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

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

(d) Affiliated company

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Harry Winston Diamond Corp.	$ 35,080,049	$ -	$ -	$ -	$ 39,369,403
Kenedix, Inc.	28,504,228	-	6,563,323	-	-
William Hill PLC	71,632,544	29,169,053	-	-	112,862,541
Total	$ 135,216,821	$ 29,169,053	$ 6,563,323	$ -	$ 152,231,944

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	$ 102,271
Fidelity Securities Lending Cash Central Fund	1,074,156
Total	$ 1,176,427

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 1,758,769,031	$ 282,472,199	$ 1,476,296,832	$ -
Japan	1,468,889,403	1,306,780,048	162,109,355	-
France	972,447,531	-	972,447,531	-
Germany	756,336,032	67,492,323	688,843,709	-
Switzerland	298,778,389	-	298,778,389	-
Italy	248,867,591	-	248,867,591	-
United States of America	207,236,995	207,236,995	-	-
Spain	171,854,087	69,355,093	102,498,994	-
Australia	138,474,402	138,474,402	-	-
Other	814,976,625	448,592,967	366,383,658	-
Money Market Funds	596,724,227	596,724,227	-	-
Total Investments in Securities:	$ 7,433,354,313	$ 3,117,128,254	$ 4,316,226,059	$ -

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

Investments in Securities:
Beginning Balance	$ 35
Total Realized Gain (Loss)	-
Total Unrealized Gain (Loss)	(35)
Cost of Purchases	-
Proceeds of Sales	-
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $7,593,905,135. Net unrealized depreciation aggregated $160,550,822, of which $569,330,148 related to appreciated investment securities and $729,880,970 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Pacific Basin Fund

January 31, 2010

1.813019.105

PAF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.1%
	Shares		Value
Australia - 13.2%
Aristocrat Leisure Ltd.	345,866		$ 1,214,153
Austal Ltd.	1,964,580		4,186,604
Brambles Ltd.	561,427		3,251,694
Energy Resources of Australia Ltd.	134,852		2,498,138
Goodman Group unit	23,842,992		12,333,652
Incitec Pivot Ltd.	1,325,671		3,950,397
Iress Market Technology Ltd.	260,098		1,805,435
Lynas Corp. Ltd. (a)	1,683,862		826,370
Macquarie Group Ltd.	87,727		3,891,042
MAp Group unit	4,745,745		11,666,062
Mineral Resources Ltd.	203,609		1,204,476
Navitas Ltd.	1,755,729		6,955,215
Origin Energy Ltd.	913,986		12,947,238
Rio Tinto Ltd.	119,572		7,189,745
SEEK Ltd.	640,303		3,674,560
Wesfarmers Ltd.	210,543		5,121,610
TOTAL AUSTRALIA			82,716,391
Bermuda - 4.1%
AGTech Holdings Ltd. (a)	7,432,000		201,021
China LotSynergy Holdings Ltd. (a)	18,280,000		894,699
China Water Affairs Group Ltd.	5,808,000		2,356,429
Huabao International Holdings Ltd.	3,730,000		3,795,362
Mingyuan Medicare Development Co. Ltd. (a)	21,170,000		3,381,114
Noble Group Ltd.	3,122,400		6,394,675
Paradise Entertainment Ltd. (a)	10,258,200		323,709
Peace Mark Holdings Ltd. (a)	18,955,750		24
Ports Design Ltd.	460,500		1,242,599
Vtech Holdings Ltd.	722,000		7,155,881
TOTAL BERMUDA			25,745,513
Canada - 0.0%
SouthGobi Energy Resources Ltd.	20,000		288,513
Cayman Islands - 7.3%
Ajisen (China) Holdings Ltd.	1,058,000		971,611
Bosideng International Holdings Ltd.	7,610,000		1,509,464
China Dongxiang Group Co. Ltd.	4,758,000		3,088,675
China High Precision Automation Group Ltd. (a)	2,035,000		1,491,399
CNinsure, Inc. ADR	83,600		1,555,796
Ctrip.com International Ltd. sponsored ADR (a)	164,600		5,150,334
Daphne International Holdings Ltd.	3,308,000		2,513,823
Hengan International Group Co. Ltd.	343,000		2,297,284
Hengdeli Holdings Ltd.	3,580,000		1,189,652
JA Solar Holdings Co. Ltd. ADR (a)	453,961		1,952,032
Kingboard Chemical Holdings Ltd.	1,013,400		4,346,527
Kingboard Chemical Holdings Ltd. rights 1/27/10 (a)	59,611		0
Kingdee International Software Group Co. Ltd.	24,090,928		5,957,609
Pacific Textile Holdings Ltd.	801,000		568,462
	Shares		Value
Perfect World Co. Ltd. sponsored ADR Class B (a)(c)	182,575		$ 6,808,222
Regent Pacific Group Ltd.	34,954,000		967,949
SinoCom Software Group Ltd.	15,226,000		1,980,726
Wasion Group Holdings Ltd. (c)	2,788,000		1,931,934
Wuxi Pharmatech Cayman, Inc. sponsored ADR (a)	117,100		1,761,184
TOTAL CAYMAN ISLANDS			46,042,683
China - 8.5%
51job, Inc. sponsored ADR (a)	194,600		3,111,654
AMVIG Holdings Ltd.	5,316,000		2,191,050
Baidu.com, Inc. sponsored ADR (a)	8,700		3,581,877
China Metal Recycling (Holdings) Ltd.	1,294,200		1,326,880
China Yurun Food Group Ltd.	885,000		2,484,946
Dalian Port (PDA) Co. Ltd. (H Shares)	3,718,000		1,498,894
Global Bio-Chem Technology Group Co. Ltd.	11,554,000		3,229,307
Lianhua Supermarket Holdings Co. (H Shares)	93,000		241,964
Minth Group Ltd.	4,668,000		5,910,193
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	1,912,000		14,972,997
Royale Furniture Holdings Ltd.	12,247,962		1,924,602
Sinotrans Ltd. (H Shares)	8,895,000		2,371,557
Tencent Holdings Ltd.	343,600		6,425,946
Yantai Changyu Pioneer Wine Co. (B Shares)	312,700		2,722,650
Zhejiang Expressway Co. Ltd. (H Shares)	1,418,000		1,238,292
TOTAL CHINA			53,232,809
Hong Kong - 5.0%
BOC Hong Kong Holdings Ltd.	882,000		1,851,712
China Resources Power Holdings Co. Ltd.	1,212,000		2,354,080
China State Construction International Holdings Ltd.	7,402,752		2,583,924
Inspur International Ltd. (c)	22,985,000		3,286,130
PYI Corp. Ltd. (a)	28,483,617		1,320,733
REXCAPITAL Financial Holdings Ltd.	55,511,967		6,649,467
Shanghai Industrial Holdings Ltd.	304,000		1,419,381
Singamas Container Holdings Ltd. (a)	9,014,000		1,404,818
Sino-Ocean Land Holdings Ltd.	1,618,500		1,323,743
Techtronic Industries Co. Ltd.	6,140,500		5,093,389
Texwinca Holdings Ltd.	1,660,000		1,466,728
Tian An China Investments Co. Ltd.	4,527,800		2,840,099
TOTAL HONG KONG			31,594,204
India - 3.6%
Coromandel International Ltd.	269,038		1,636,684
Educomp Solutions Ltd.	158,035		2,413,610
Financial Technologies India Ltd.	81,800		2,706,183
Gateway Distriparks Ltd.	541,338		1,504,597
Geodesic Ltd.	1,222,870		3,422,710
INFO Edge India Ltd.	109,339		2,015,867
Common Stocks - continued
	Shares		Value
India - continued
Lupin Ltd.	71,161		$ 2,194,844
Max India Ltd. (a)	287,700		1,303,928
NIIT Ltd.	1,940,580		2,934,536
Rural Electrification Corp. Ltd. (a)	445,489		2,314,611
TOTAL INDIA			22,447,570
Indonesia - 2.2%
PT Ciputra Development Tbk (a)	59,428,500		4,322,078
PT Kalbe Farma Tbk	23,357,500		3,847,122
PT Perusahaan Gas Negara Tbk Series B	13,611,740		5,495,656
TOTAL INDONESIA			13,664,856
Japan - 33.6%
Ai Holdings Corp.	626,100		1,886,554
Chiyoda Corp. (c)	535,000		4,889,498
Credit Saison Co. Ltd.	350,900		4,369,243
Digital Garage, Inc.	8,229		18,186,390
FreeBit Co., Ltd. (c)	440		2,166,611
Fuji Fire & Marine Insurance Co. Ltd. (a)	2,612,000		2,893,541
Fujifilm Holdings Corp.	140,100		4,486,963
Fujitsu Ltd.	639,000		3,935,792
GREE, Inc.	36,200		2,109,361
H.I.S. Co. Ltd.	82,200		1,589,910
Hamakyorex Co. Ltd.	91,100		2,108,208
Haseko Corp. (a)	1,681,500		1,415,686
Hikari Tsushin, Inc.	61,100		1,052,515
Internet Initiative Japan, Inc. (c)	2,129		3,726,398
ISE Chemical Corp. (c)	456,000		2,384,314
Itochu Corp.	315,000		2,470,588
Japan Excellent, Inc.	1,143		5,064,805
Kenedix Realty Investment Corp.	1,951		5,532,912
Kirin Holdings Co. Ltd.	263,000		4,017,691
Micronics Japan Co. Ltd.	141,200		2,519,920
Mitsubishi UFJ Financial Group, Inc.	953,700		4,907,537
Mitsui Sumitomo Insurance Group Holdings, Inc.	357,700		8,975,191
New City Residence Investment Corp. (a)	1,766		1,808,169
Nippon Seiki Co. Ltd.	620,000		6,847,679
Nishimatsu Construction Co. Ltd.	1,899,000		2,208,873
Nitta Corp.	381,800		5,608,361
Nittoku Engineering Co. Ltd.	506,900		3,402,918
Nomura Holdings, Inc.	707,800		5,291,421
NTT Urban Development Co.	3,259		2,400,836
ORIX Corp.	298,090		22,454,994
Promise Co. Ltd. (a)(c)	744,150		6,891,651
Rakuten, Inc.	4,356		3,566,062
Rohto Pharmaceutical Co. Ltd.	188,000		2,288,822
Sankyo Seiko Co. Ltd.	613,300		1,800,426
Sega Sammy Holdings, Inc.	106,600		1,202,158
SHO-BOND Holdings Co. Ltd.	128,800		2,175,917
SOFTBANK CORP.	643,900		16,413,137
Start Today Co. Ltd.	1,110		2,095,314
Sumitomo Mitsui Financial Group, Inc.	279,900		9,100,548
	Shares		Value
Take & Give Needs Co. Ltd. (a)(c)	21,443		$ 2,349,299
Tokyo Ohka Kogyo Co. Ltd.	139,700		2,432,795
Tokyo Tatemono Co. Ltd.	629,000		2,494,539
Toridoll Corp.	377		701,211
Toshiba Corp. (a)	755,000		4,156,807
Tosoh Corp.	530,000		1,362,136
Toyo Seikan Kaisha Ltd.	103,400		1,453,579
Toyo Tanso Co. Ltd. (c)	39,600		2,083,749
Ube Industries Ltd.	825,000		2,138,584
Yamato Kogyo Co. Ltd.	165,600		5,239,322
TOTAL JAPAN			210,658,935
Korea (South) - 11.4%
Daewoo International Corp.	116,987		3,533,130
Daou Technology, Inc.	930,350		6,004,846
DC Chemical Co. Ltd.	9,655		1,449,624
eSang Networks Co. Ltd. (a)	130,755		836,047
Hyosung Corp.	53,755		3,771,059
Hyundai Industrial Development & Construction Co.	50,880		1,578,338
Hyundai Motor Co.	33,017		3,219,363
Infopia Co. Ltd.	208,686		2,070,833
Interpark Corp. (a)	467,633		2,707,582
Jinsung T.E.C. Co. Ltd.	473,599		2,533,707
Jusung Engineering Co. Ltd. (a)	355,225		4,643,763
LG Corp.	38,130		2,069,528
MNTECH Co. Ltd.	157,110		1,735,273
NHN Corp. (a)	42,430		6,333,927
Plantynet Co. Ltd.	320,785		1,107,205
Power Logics Co. Ltd. (a)	196,421		1,455,912
Samsung Electronics Co. Ltd.	17,285		11,693,361
Samsung SDI Co. Ltd.	15,341		1,800,307
SFA Engineering Corp.	84,925		2,418,262
Sodiff Advanced Materials Co. Ltd.	31,336		2,244,272
The Basic House Co. Ltd. (a)	653,761		4,067,319
TK Corp.	157,650		4,176,248
TOTAL KOREA (SOUTH)			71,449,906
Malaysia - 1.0%
IJM Corp. Bhd	1,637,580		2,205,979
IJM Land Bhd warrants 9/11/13 (a)	116,970		39,050
JobStreet Corp. Bhd	6,606,750		2,882,805
Parkson Holdings Bhd	755,695		1,228,233
TOTAL MALAYSIA			6,356,067
Netherlands - 0.4%
James Hardie Industries NV unit (a)	393,540		2,609,908
Papua New Guinea - 0.2%
Lihir Gold Ltd.	428,987		1,050,749
Philippines - 1.3%
Alliance Global Group, Inc. (a)	27,720,542		2,801,861
Common Stocks - continued
	Shares		Value
Philippines - continued
DMCI Holdings, Inc.	13,219,500		$ 2,587,042
PNOC Energy Development Corp.	26,317,500		2,688,347
TOTAL PHILIPPINES			8,077,250
Singapore - 2.7%
CSE Global Ltd.	7,480,500		4,654,533
Goodpack Ltd.	10,308,000		9,016,064
Goodpack Ltd. warrants 11/30/12 (a)	2,233,800		889,549
Pertama Holdings Ltd.	9,990,000		2,592,960
Tat Hong Holdings Ltd. warrants 8/2/13 (a)	125,700		5,363
TOTAL SINGAPORE			17,158,469
Taiwan - 3.7%
104 Corp.	479,000		1,291,719
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,756,243		7,389,791
Lite-On Technology Corp.	2,570,000		3,272,298
MediaTek, Inc.	274,000		4,457,375
Powertech Technology, Inc.	547,865		1,756,802
Taiwan Fertilizer Co. Ltd.	554,000		1,811,137
Taiwan Semiconductor Manufacturing Co. Ltd.	1,584,484		3,048,514
TOTAL TAIWAN			23,027,636
Thailand - 0.9%
Central Pattana PCL (For. Reg.)	3,319,500		1,880,283
	Shares		Value
Minor International PCL (For. Reg.)	4,519,200		$ 1,470,544
Siam Commercial Bank PCL (For. Reg.)	922,152		2,215,776
TOTAL THAILAND			5,566,603
TOTAL COMMON STOCKS (Cost $557,111,797)		621,688,062
Money Market Funds - 2.5%
Fidelity Cash Central Fund, 0.17% (d)	567,989		567,989
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	14,983,724		14,983,724
TOTAL MONEY MARKET FUNDS (Cost $15,551,713)		15,551,713

TOTAL INVESTMENT PORTFOLIO - 101.6% (Cost $572,663,510)		637,239,775
NET OTHER ASSETS - (1.6)%		(10,107,239)
NET ASSETS - 100%	$ 627,132,536

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,650
Fidelity Securities Lending Cash Central Fund	64,455
Total	$ 66,105

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Japan	$ 210,658,935	$ 194,164,845	$ 14,685,921	$ 1,808,169
Australia	82,716,391	82,716,391	-	-
Korea (South)	71,449,906	71,449,906	-	-
China	53,232,809	53,232,809	-	-
Cayman Islands	46,042,683	46,042,683	-	-
Hong Kong	31,594,204	31,594,204	-	-
Bermuda	25,745,513	25,745,489	-	24
Taiwan	23,027,636	23,027,636	-	-
India	22,447,570	22,447,570	-	-
Other	54,772,415	54,772,415	-	-
Money Market Funds	15,551,713	15,551,713	-	-
Total Investments in Securities:	$ 637,239,775	$ 620,745,661	$ 14,685,921	$ 1,808,193

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

Investments in Securities:
Beginning Balance	$ 3,415,954
Total Realized Gain (Loss)	1,617,701
Total Unrealized Gain (Loss)	(222,113)
Cost of Purchases	-
Proceeds of Sales	(3,003,349)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ 1,808,193
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ 312,239

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $592,345,204. Net unrealized appreciation aggregated $44,894,571, of which $136,235,103 related to appreciated investment securities and $91,340,532 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Series
Emerging Markets Fund -
Emerging Markets Fund
Class F

January 31, 2010

1.873105.101

ILF-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.2%
	Shares		Value
Argentina - 0.4%
Banco Macro SA sponsored ADR	161,100		$ 4,592,961
Bailiwick of Jersey - 0.2%
Randgold Resources Ltd. sponsored ADR	41,300		2,846,809
Bermuda - 0.6%
Aquarius Platinum Ltd. (Australia) (a)(c)	1,110,621		6,560,205
Brazil - 18.0%
Anhanguera Educacional Participacoes SA unit (a)	182,911		2,522,910
Banco do Brasil SA	503,000		7,466,281
BM&F BOVESPA SA	1,194,800		8,030,830
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	511,900		9,447,746
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	377,300		6,289,591
Companhia Siderurgica Nacional SA (CSN) sponsored ADR (c)	300,200		8,741,824
Cosan SA Industria e Comercio (a)	413,300		4,714,032
Fibria Celulose SA sponsored ADR (a)(c)	215,525		3,939,797
Gerdau SA	532,000		5,455,470
Gerdau SA (PN)	99,100		1,331,147
Iguatemi Empresa de Shopping Centers SA	286,900		4,334,701
Itau Unibanco Banco Multiplo SA ADR	1,133,960		21,726,674
Localiza Rent A Car SA	396,300		4,152,215
Natura Cosmeticos SA	280,600		5,079,083
Net Servicos de Comunicacao SA sponsored ADR	499,700		5,911,451
OGX Petroleo e Gas Participacoes SA	971,600		8,685,125
PDG Realty S.A. Empreendimentos e Participacoes	471,900		3,722,628
Petroleo Brasileiro SA - Petrobras:
(PN) sponsored ADR (non-vtg.)	511,400		18,451,312
sponsored ADR	697,300		28,289,461
Tele Norte Leste Participacoes SA sponsored ADR (non-vtg.)	433,000		7,716,060
Tivit Terc de Tec E Servico SA	333,910		2,745,679
Vale SA (PN-A) sponsored ADR	1,757,700		39,688,869
Vivo Participacoes SA sponsored ADR	176,300		4,934,637
TOTAL BRAZIL			213,377,523
Canada - 1.5%
Eldorado Gold Corp. (a)	384,160		4,562,641
First Quantum Minerals Ltd.	56,200		4,075,853
Niko Resources Ltd.	32,500		3,001,075
Sherritt International Corp.	423,300		2,430,620
Uranium One, Inc. (a)(c)	1,021,400		3,161,726
TOTAL CANADA			17,231,915
Common Stocks - continued
	Shares		Value
Cayman Islands - 2.3%
China Shanshui Cement Group Ltd.	4,332,000		$ 2,527,574
Eurasia Drilling Co. Ltd. GDR (Reg. S)	216,400		2,965,416
Geely Automobile Holdings Ltd. (c)	7,425,000		3,299,384
Hengan International Group Co. Ltd.	936,000		6,268,974
Hidili Industry International Development Ltd. (a)	3,723,000		3,936,892
Integra Group Holdings unit (a)	850,000		2,911,972
Xinao Gas Holdings Ltd.	2,058,000		4,893,215
TOTAL CAYMAN ISLANDS			26,803,427
China - 8.7%
Baidu.com, Inc. sponsored ADR (a)	9,900		4,075,929
China Construction Bank Corp. (H Shares)	25,069,000		19,308,808
China Merchants Bank Co. Ltd. (H Shares)	3,514,450		8,175,087
China Yurun Food Group Ltd.	2,108,000		5,918,946
Golden Eagle Retail Group Ltd. (H Shares)	1,678,000		3,030,102
Industrial & Commercial Bank of China Ltd. (H Shares)	26,353,000		19,347,381
Jiangsu Expressway Co. Ltd. (H Shares)	5,196,000		4,651,266
Minth Group Ltd.	2,398,000		3,036,127
Parkson Retail Group Ltd.	1,896,000		3,252,818
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	1,329,000		10,407,486
Tencent Holdings Ltd.	600,600		11,232,313
Weichai Power Co. Ltd. (H Shares)	649,000		4,702,020
ZTE Corp. (H Shares)	937,460		5,505,983
TOTAL CHINA			102,644,266
Czech Republic - 0.5%
Ceske Energeticke Zavody AS	124,900		6,078,502
Egypt - 1.0%
Commercial International Bank Ltd.	700,500		7,677,941
Orascom Telecom Holding SAE	786,500		851,982
Orascom Telecom Holding SAE rights 3/1/10 (a)	3,853,850		3,469,523
TOTAL EGYPT			11,999,446
Hong Kong - 6.4%
China Agri-Industries Holding Ltd.	3,932,000		5,398,685
China Mobile (Hong Kong) Ltd. sponsored ADR	382,800		17,972,460
China Overseas Land & Investment Ltd.	3,486,000		6,250,056
China Resources Power Holdings Co. Ltd.	3,089,600		6,000,962
CNOOC Ltd. sponsored ADR (c)	92,200		12,892,326
CNPC (Hong Kong) Ltd.	4,560,000		5,691,227
Cosco Pacific Ltd.	3,728,000		5,454,708
Hong Kong Exchanges and Clearing Ltd.	28,300		482,240
Common Stocks - continued
	Shares		Value
Hong Kong - continued
Lenovo Group Ltd.	9,478,000		$ 6,555,537
Shanghai Industrial Holdings Ltd.	1,058,000		4,939,818
Sino-Ocean Land Holdings Ltd.	4,397,500		3,596,639
TOTAL HONG KONG			75,234,658
Hungary - 0.5%
OTP Bank Ltd. (a)	213,200		6,372,246
India - 8.9%
Bank of Baroda	522,633		6,520,874
Bharat Heavy Electricals Ltd.	130,429		6,801,254
Dabur India Ltd.	1,303,216		4,543,244
Housing Development and Infrastructure Ltd. (a)	524,698		3,760,762
Housing Development Finance Corp. Ltd.	134,572		6,955,002
Indiabulls Real Estate Ltd. (a)	743,750		2,824,234
Infosys Technologies Ltd. sponsored ADR	263,000		13,652,330
Jain Irrigation Systems Ltd.	213,407		3,350,663
JSW Steel Ltd.	297,870		6,364,247
Pantaloon Retail India Ltd.	330,973		3,151,183
Power Finance Corp. Ltd.	668,470		3,509,377
Reliance Industries Ltd.	769,447		17,452,476
Tata Consultancy Services Ltd.	425,024		6,783,798
Tata Power Co. Ltd.	274,076		7,753,751
Tata Steel Ltd.	407,651		5,029,684
Union Bank of India	534,037		2,951,242
Unitech Ltd.	2,508,341		4,040,536
TOTAL INDIA			105,444,657
Indonesia - 2.4%
PT Bank Central Asia Tbk	10,208,000		5,458,830
PT Bank Rakyat Indonesia Tbk	5,395,500		4,414,505
PT Indocement Tunggal Prakarsa Tbk	3,790,500		5,472,921
PT International Nickel Indonesia Tbk	8,928,500		3,413,842
PT Telkomunikasi Indonesia Tbk Series B	9,736,500		9,736,512
TOTAL INDONESIA			28,496,610
Ireland - 0.3%
Dragon Oil PLC (a)	586,100		3,781,265
Israel - 0.9%
Teva Pharmaceutical Industries Ltd. sponsored ADR	195,900		11,111,448
Common Stocks - continued
	Shares		Value
Kazakhstan - 0.7%
JSC Halyk Bank of Kazakhstan unit (a)	523,300		$ 4,884,587
KazMunaiGas Exploration & Production JSC (Reg. S) GDR	133,200		3,359,597
TOTAL KAZAKHSTAN			8,244,184
Korea (South) - 9.8%
Doosan Heavy Industries & Construction Co. Ltd.	111,166		7,913,705
GS Engineering & Construction Corp.	80,458		6,171,986
Hana Financial Group, Inc.	186,100		5,347,423
Hynix Semiconductor, Inc. (a)	392,620		7,707,397
Hyundai Engineering & Construction Co. Ltd.	118,791		6,601,207
Hyundai Mobis	61,959		7,912,615
KB Financial Group, Inc. (a)	284,290		12,412,693
KT&G Corp.	119,658		6,990,115
LG Innotek Co. Ltd.	34,216		2,642,446
Samsung Electronics Co. Ltd.	55,046		37,238,807
Shinhan Financial Group Co. Ltd. (a)	16,940		592,952
Shinhan Financial Group Co. Ltd. sponsored ADR (c)	170,800		11,833,024
Tong Yang Life Insurance Co. Ltd.	191,820		2,358,646
TOTAL KOREA (SOUTH)			115,723,016
Luxembourg - 0.8%
ArcelorMittal SA (NY Shares) Class A (c)	120,500		4,660,940
Evraz Group SA GDR (a)	144,700		4,770,412
TOTAL LUXEMBOURG			9,431,352
Malaysia - 1.3%
Axiata Group Bhd	5,710,700		5,468,626
Bumiputra-Commerce Holdings Bhd	1,482,400		5,495,917
IJM Corp. Bhd	3,610,200		4,863,290
TOTAL MALAYSIA			15,827,833
Mexico - 4.7%
America Movil SAB de CV Series L sponsored ADR	484,500		21,148,425
Corporacion Geo SA de CV Series B (a)	1,180,500		3,134,051
Empresas ICA Sociedad Controladora SA de CV sponsored ADR (a)	709,300		6,880,210
Fomento Economico Mexicano SAB de CV sponsored ADR	177,600		7,487,616
Grupo Financiero Banorte SAB de CV Series O	918,500		3,020,709
Grupo Televisa SA de CV (CPO) sponsored ADR	383,100		7,485,774
Telmex Internacional SAB de CV Series L ADR (c)	344,700		6,087,402
TOTAL MEXICO			55,244,187
Common Stocks - continued
	Shares		Value
Nigeria - 0.4%
Guaranty Trust Bank PLC GDR (Reg. S)	651,450		$ 4,916,363
Papua New Guinea - 0.2%
Oil Search Ltd.	605,942		2,818,330
Peru - 0.6%
Compania de Minas Buenaventura SA sponsored ADR	211,900		6,670,612
Philippines - 0.4%
Philippine Long Distance Telephone Co. sponsored ADR	85,900		4,807,823
Russia - 7.7%
Magnit OJSC GDR (Reg. S)	302,300		4,547,786
Mechel Steel Group OAO sponsored ADR	343,100		6,789,949
Novorossiysk Commercial Sea Port JSC GDR (Reg. S)	355,400		4,076,026
OAO Gazprom sponsored ADR	1,027,400		24,863,080
OAO NOVATEK GDR	124,900		8,847,447
OAO Tatneft sponsored ADR	199,300		6,131,887
OJSC MMC Norilsk Nickel sponsored ADR (a)	560,500		8,575,650
OJSC Oil Company Rosneft GDR (Reg. S)	1,089,000		8,375,521
Polymetal JSC GDR (Reg. S) (a)	466,800		4,334,028
Sberbank (Savings Bank of the Russian Federation) GDR	47,500		14,293,402
TOTAL RUSSIA			90,834,776
Singapore - 0.3%
Straits Asia Resources Ltd.	2,243,000		3,445,248
South Africa - 6.2%
African Bank Investments Ltd.	1,149,900		4,478,856
Aspen Pharmacare Holdings Ltd. (a)	737,500		6,521,069
Aveng Ltd.	1,019,200		4,746,622
Blue Label Telecoms Ltd. (a)	4,876,600		3,166,790
Clicks Group Ltd.	1,233,399		4,287,917
Mr. Price Group Ltd.	767,000		3,540,882
MTN Group Ltd.	843,000		12,104,315
Mvelaphanda Resources Ltd. (a)	787,514		5,243,137
Naspers Ltd. Class N	227,400		8,054,732
Shoprite Holdings Ltd.	673,600		6,172,561
Standard Bank Group Ltd.	817,300		11,670,966
Truworths International Ltd.	566,500		3,151,103
TOTAL SOUTH AFRICA			73,138,950
Taiwan - 8.2%
Acer, Inc.	2,712,980		7,613,148
Cathay Financial Holding Co. Ltd. (a)	3,753,000		6,363,604
China Steel Corp.	4,017,000		4,084,233
Common Stocks - continued
	Shares		Value
Taiwan - continued
Delta Electronics, Inc.	1,706,000		$ 5,176,975
Epistar Corp.	1,325,000		4,207,336
EVA Airways Corp. (a)	11,060,000		4,359,643
Hon Hai Precision Industry Co. Ltd. (Foxconn)	3,354,200		14,113,559
MediaTek, Inc.	608,856		9,904,743
Prime View International Co. Ltd. (a)	1,408,000		2,581,223
Prime View International Co. Ltd. sponsored GDR (a)(d)	15,300		280,655
Synnex Technology International Corp.	1,943,000		3,999,668
Taiwan Mobile Co. Ltd.	2,896,000		5,608,084
Taiwan Semiconductor Manufacturing Co. Ltd.	3,618,284		6,961,504
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	1,199,451		12,186,422
Wintek Corp. (a)	5,574,000		4,342,018
Yuanta Financial Holding Co. Ltd.	7,171,000		4,576,518
TOTAL TAIWAN			96,359,333
Thailand - 0.9%
Advanced Info Service PCL (For. Reg.)	1,757,800		4,395,824
Siam Commercial Bank PCL (For. Reg.)	2,583,300		6,207,236
TOTAL THAILAND			10,603,060
Turkey - 1.2%
Asya Katilim Bankasi AS (a)	1,876,000		4,962,731
Turkiye Garanti Bankasi AS	2,297,000		9,743,779
TOTAL TURKEY			14,706,510
United Kingdom - 1.3%
Hikma Pharmaceuticals PLC	704,619		6,151,860
Tullow Oil PLC	185,280		3,393,655
Xstrata PLC (a)	367,988		5,970,918
TOTAL UNITED KINGDOM			15,516,433
United States of America - 0.9%
Central European Distribution Corp. (a)	174,200		5,583,110
Freeport-McMoRan Copper & Gold, Inc.	71,700		4,781,673
TOTAL UNITED STATES OF AMERICA			10,364,783
TOTAL COMMON STOCKS (Cost $945,988,828)		1,161,228,731
Money Market Funds - 4.7%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (e)	21,072,945		$ 21,072,945
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	34,878,425		34,878,425
TOTAL MONEY MARKET FUNDS (Cost $55,951,370)		55,951,370
TOTAL INVESTMENT PORTFOLIO - 102.9% (Cost $1,001,940,198)			1,217,180,101
NET OTHER ASSETS - (2.9)%			(33,814,673)
NET ASSETS - 100%		$ 1,183,365,428

Legend

(a) Non-income producing

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

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

(d) 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 $280,655 or 0.0% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 6,926
Fidelity Securities Lending Cash Central Fund	30,188
Total	$ 37,114

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Brazil	$ 213,377,523	$ 213,377,523	$ -	$ -
Korea (South)	115,723,016	115,130,064	592,952	-
India	105,444,657	102,293,474	3,151,183	-
China	102,644,266	102,644,266	-	-
Taiwan	96,359,333	96,359,333	-	-
Russia	90,834,776	40,228,679	50,606,097	-
Hong Kong	75,234,658	75,234,658	-	-
South Africa	73,138,950	73,138,950	-	-
Mexico	55,244,187	55,244,187	-	-
Other	233,227,365	186,651,797	46,575,568	-
Money Market Funds	55,951,370	55,951,370	-	-
Total Investments in Securities:	$ 1,217,180,101	$ 1,116,254,301	$ 100,925,800	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $1,008,315,823. Net unrealized appreciation aggregated $208,864,278, of which $241,554,859 related to appreciated investment securities and $32,690,581 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Series International
Growth Fund

January 31, 2010

1.907948.100

GSV-S-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value
Australia - 4.3%
CSL Ltd.	84,401		$ 2,327,013
Leighton Holdings Ltd.	114,729		3,875,356
MAp Group unit	706,530		1,736,803
OZ Minerals Ltd. (a)	1,580,237		1,488,151
QBE Insurance Group Ltd.	69,212		1,402,720
Woolworths Ltd.	233,454		5,338,324
Worleyparsons Ltd.	57,273		1,194,684
TOTAL AUSTRALIA			17,363,051
Austria - 0.4%
Andritz AG	28,200		1,574,956
Bailiwick of Jersey - 0.4%
Informa PLC	330,507		1,731,901
Belgium - 3.4%
Anheuser-Busch InBev SA NV	244,414		12,196,312
Umicore SA	58,218		1,794,237
TOTAL BELGIUM			13,990,549
Bermuda - 1.7%
Credicorp Ltd. (NY Shares)	11,600		865,708
Lazard Ltd. Class A	23,200		894,128
Ports Design Ltd.	1,036,500		2,796,859
Seadrill Ltd.	94,600		2,146,550
TOTAL BERMUDA			6,703,245
Brazil - 4.7%
Banco ABC Brasil SA	265,000		1,687,003
BM&F BOVESPA SA	492,500		3,310,332
BR Malls Participacoes SA (a)	99,500		1,081,568
Braskem SA Class A sponsored ADR (a)	238,800		3,321,708
Fibria Celulose SA sponsored ADR (a)	91,200		1,667,136
Iguatemi Empresa de Shopping Centers SA	41,500		627,013
Itau Unibanco Banco Multiplo SA ADR	73,500		1,408,260
MRV Engenharia e Participacoes SA	132,700		848,294
Multiplan Empreendimentos Imobiliarios SA	48,100		765,517
Petroleo Brasileiro SA - Petrobras sponsored ADR	58,000		2,353,060
Vale SA sponsored ADR	74,100		1,911,039
TOTAL BRAZIL			18,980,930
Canada - 3.1%
Agnico-Eagle Mines Ltd. (Canada)	66,300		3,351,272
Fairfax Financial Holdings Ltd. (sub. vtg.)	4,500		1,526,835
Common Stocks - continued
	Shares		Value
Canada - continued
Goldcorp, Inc.	23,200		$ 786,279
Niko Resources Ltd.	39,800		3,675,163
Open Text Corp. (a)	36,500		1,438,086
Petrobank Energy & Resources Ltd. (a)	35,600		1,758,859
TOTAL CANADA			12,536,494
Cayman Islands - 0.2%
Wynn Macau Ltd.	742,800		943,335
Denmark - 1.7%
Novo Nordisk AS Series B sponsored ADR	76,700		5,171,881
William Demant Holding AS (a)	23,200		1,810,528
TOTAL DENMARK			6,982,409
Finland - 1.9%
Metso Corp.	62,200		2,087,443
Nokian Tyres PLC	133,500		3,227,526
Outotec OYJ	66,300		2,223,774
TOTAL FINLAND			7,538,743
France - 2.9%
Alstom SA	5,853		390,791
Danone	82,792		4,734,128
GDF Suez	19,000		717,257
Laurent-Perrier Group	9,608		824,409
Pernod-Ricard SA	15,200		1,222,610
Remy Cointreau SA	45,700		2,290,463
Veolia Environnement sponsored ADR	46,400		1,520,992
TOTAL FRANCE			11,700,650
Germany - 3.7%
Aixtron AG	84,600		2,544,927
Bayer AG	42,366		2,885,737
Colonia Real Estate AG (a)	134,627		799,216
E.ON AG	57,340		2,104,608
Linde AG	35,634		3,895,279
Siemens AG sponsored ADR	29,800		2,655,478
TOTAL GERMANY			14,885,245
Hong Kong - 1.1%
Hong Kong Exchanges and Clearing Ltd.	270,300		4,605,992
Ireland - 0.7%
CRH PLC sponsored ADR	109,400		2,690,146
Common Stocks - continued
	Shares		Value
Italy - 1.1%
Azimut Holdings SpA	154,200		$ 1,895,211
Fiat SpA (a)	208,300		2,610,311
TOTAL ITALY			4,505,522
Japan - 9.6%
Autobacs Seven Co. Ltd.	51,400		1,557,317
Daikokutenbussan Co. Ltd.	31,500		952,642
Denso Corp.	137,600		4,062,302
East Japan Railway Co.	43,100		2,898,161
Fanuc Ltd.	36,500		3,501,606
Japan Steel Works Ltd.	149,000		1,835,471
Keyence Corp.	11,900		2,745,951
Kirin Holdings Co. Ltd.	99,000		1,512,363
Kobayashi Pharmaceutical Co. Ltd.	44,800		1,789,121
Mitsubishi UFJ Financial Group, Inc.	145,900		750,770
Mitsui Sumitomo Insurance Group Holdings, Inc.	63,000		1,580,758
Nippon Thompson Co. Ltd.	315,000		1,793,619
Osaka Securities Exchange Co. Ltd.	381		2,118,777
Shin-Etsu Chemical Co., Ltd.	73,900		3,872,239
Shiseido Co. Ltd.	111,900		2,303,204
SHO-BOND Holdings Co. Ltd.	46,400		783,871
Sumitomo Mitsui Financial Group, Inc.	23,500		764,069
USS Co. Ltd.	26,990		1,638,476
Yamato Kogyo Co. Ltd.	73,000		2,309,604
TOTAL JAPAN			38,770,321
Korea (South) - 0.6%
NHN Corp. (a)	17,272		2,578,355
Luxembourg - 0.4%
ArcelorMittal SA (NY Shares) Class A	47,400		1,833,432
Mexico - 1.6%
Cemex SA de CV sponsored ADR	213,600		1,962,984
Desarrolladora Homex SAB de CV sponsored ADR (a)	46,400		1,422,160
Wal-Mart de Mexico SA de CV Series V	660,000		2,926,560
TOTAL MEXICO			6,311,704
Netherlands - 2.7%
Akzo Nobel NV	13,464		801,439
ASM International NV (NASDAQ) (a)	66,300		1,520,922
ASML Holding NV (NY Shares)	66,300		2,071,875
James Hardie Industries NV unit (a)	225,569		1,495,945
Common Stocks - continued
	Shares		Value
Netherlands - continued
Koninklijke KPN NV	189,903		$ 3,144,399
QIAGEN NV (a)	91,200		1,984,512
TOTAL NETHERLANDS			11,019,092
Papua New Guinea - 0.4%
Lihir Gold Ltd. sponsored ADR	59,300		1,438,025
Peru - 0.3%
Compania de Minas Buenaventura SA sponsored ADR	34,800		1,095,504
Philippines - 0.0%
Jollibee Food Corp.	192,000		216,774
Singapore - 1.6%
CapitaLand Ltd.	398,000		1,092,466
City Developments Ltd.	160,000		1,219,698
Singapore Exchange Ltd.	564,000		3,204,523
Wing Tai Holdings Ltd.	580,000		812,516
TOTAL SINGAPORE			6,329,203
South Africa - 2.5%
African Rainbow Minerals Ltd.	139,900		3,083,357
Clicks Group Ltd.	436,945		1,519,041
JSE Ltd.	207,900		1,540,990
Mr. Price Group Ltd.	369,800		1,707,195
MTN Group Ltd.	154,000		2,211,227
TOTAL SOUTH AFRICA			10,061,810
Spain - 3.5%
Inditex SA	55,217		3,475,590
Prosegur Compania de Seguridad SA (Reg.)	38,100		1,725,355
Telefonica SA sponsored ADR	126,000		9,021,600
TOTAL SPAIN			14,222,545
Sweden - 1.5%
H&M Hennes & Mauritz AB (B Shares)	81,317		4,785,158
Swedish Match Co.	59,600		1,247,971
TOTAL SWEDEN			6,033,129
Switzerland - 13.7%
ABB Ltd. sponsored ADR	248,700		4,484,061
Actelion Ltd. (Reg.) (a)	32,633		1,726,434
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	43,013		1,468,648
Credit Suisse Group sponsored ADR	140,900		6,084,062
Nestle SA (Reg.)	340,041		16,117,772
Common Stocks - continued
	Shares		Value
Switzerland - continued
Novartis AG sponsored ADR	69,600		$ 3,725,688
Roche Holding AG (participation certificate)	81,366		13,650,210
Sonova Holding AG Class B	28,952		3,583,209
The Swatch Group AG (Bearer)	8,620		2,253,251
UBS AG:
(For. Reg.) (a)	68,370		891,639
(NY Shares) (a)	122,700		1,596,327
TOTAL SWITZERLAND			55,581,301
Turkey - 2.5%
Anadolu Efes Biracilik ve Malt Sanyii AS	160,000		1,667,390
Asya Katilim Bankasi AS (a)	779,000		2,060,750
Coca-Cola Icecek AS	232,000		1,937,272
Turkiye Garanti Bankasi AS	1,086,000		4,606,767
TOTAL TURKEY			10,272,179
United Kingdom - 18.6%
Babcock International Group PLC	351,500		3,138,690
BAE Systems PLC	394,600		2,213,006
Bellway PLC	102,800		1,211,117
BG Group PLC	426,913		7,848,040
BHP Billiton PLC ADR	225,500		13,209,790
Bovis Homes Group PLC (a)	114,400		723,080
Cobham PLC	335,000		1,239,504
GlaxoSmithKline PLC sponsored ADR	73,000		2,847,730
Great Portland Estates PLC	165,200		737,913
HSBC Holdings PLC (United Kingdom) (Reg.)	183,700		1,966,551
InterContinental Hotel Group PLC ADR	155,900		2,224,693
Johnson Matthey PLC	78,300		1,820,276
Reckitt Benckiser Group PLC	90,300		4,680,983
Rio Tinto PLC:
(Reg.)	53,600		2,613,729
sponsored ADR	37,300		7,236,946
Rolls-Royce Group PLC	258,200		1,967,298
Serco Group PLC	427,841		3,400,743
Shaftesbury PLC	282,400		1,709,879
Standard Chartered PLC (United Kingdom)	261,895		6,032,227
Tesco PLC	951,492		6,439,333
Unite Group PLC (a)	315,100		1,443,416
Victrex PLC	59,700		773,509
TOTAL UNITED KINGDOM			75,478,453
Common Stocks - continued
	Shares		Value
United States of America - 8.5%
Advanced Energy Industries, Inc. (a)	121,800		$ 1,598,016
Allergan, Inc.	33,200		1,909,000
Autoliv, Inc.	63,000		2,697,030
Berkshire Hathaway, Inc. Class B (a)	26,500		2,025,395
Cymer, Inc. (a)	28,100		881,497
ION Geophysical Corp. (a)	179,100		850,725
Juniper Networks, Inc. (a)	175,800		4,365,114
Mead Johnson Nutrition Co. Class A	36,900		1,668,987
Mohawk Industries, Inc. (a)	36,500		1,511,465
Monsanto Co.	18,800		1,426,544
Philip Morris International, Inc.	44,800		2,038,848
PriceSmart, Inc.	53,800		1,076,538
ResMed, Inc. (a)	36,500		1,866,610
Union Pacific Corp.	31,500		1,905,750
Visa, Inc. Class A	104,500		8,572,135
TOTAL UNITED STATES OF AMERICA			34,393,654
TOTAL COMMON STOCKS (Cost $419,882,985)		402,368,649
Money Market Funds - 1.9%
Fidelity Cash Central Fund, 0.17% (b) (Cost $7,671,041)	7,671,041		7,671,041
TOTAL INVESTMENT PORTFOLIO - 101.2% (Cost $427,554,026)		410,039,690
NET OTHER ASSETS - (1.2)%		(4,735,137)
NET ASSETS - 100%		$ 405,304,553

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 3,589

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 75,478,453	$ 25,519,159	$ 49,959,294	$ -
Switzerland	55,581,301	15,890,138	39,691,163	-
Japan	38,770,321	38,019,551	750,770	-
United States of America	34,393,654	34,393,654	-	-
Brazil	18,980,930	18,980,930	-	-
Australia	17,363,051	17,363,051	-	-
Germany	14,885,245	2,655,478	12,229,767	-
Spain	14,222,545	9,021,600	5,200,945	-
Belgium	13,990,549	-	13,990,549	-
Other	118,702,600	79,235,775	39,466,825	-
Money Market Funds	7,671,041	7,671,041	-	-
Total Investments in Securities:	$ 410,039,690	$ 248,750,377	$ 161,289,313	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $428,170,307. Net unrealized depreciation aggregated $18,130,617, of which $3,801,806 related to appreciated investment securities and $21,932,423 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Series International
Small Cap Fund

January 31, 2010

1.907961.100

SCF-S-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.5%
	Shares		Value
Australia - 1.1%
MAp Group unit	295,536		$ 726,491
OZ Minerals Ltd. (a)	193,767		182,475
TOTAL AUSTRALIA			908,966
Austria - 0.7%
Andritz AG	10,700		597,590
Bailiwick of Jersey - 1.4%
Informa PLC	222,437		1,165,600
Belgium - 1.2%
Gimv NV	7,700		394,299
Umicore SA	19,109		588,926
TOTAL BELGIUM			983,225
Bermuda - 2.8%
Credicorp Ltd. (NY Shares)	2,700		201,501
Lazard Ltd. Class A	4,500		173,430
Northern Offshore Ltd. (a)	115,000		198,905
Ports Design Ltd.	448,000		1,208,869
Scorpion Offshore Ltd. (a)	47,500		206,535
Seadrill Ltd.	7,202		163,419
Trinity Ltd.	404,000		189,929
TOTAL BERMUDA			2,342,588
Brazil - 4.3%
Banco ABC Brasil SA	128,000		814,854
BM&F BOVESPA SA	53,700		360,944
BR Malls Participacoes SA (a)	23,100		251,098
Braskem SA Class A sponsored ADR (a)	70,500		980,655
Fibria Celulose SA sponsored ADR (a)	22,500		411,300
Iguatemi Empresa de Shopping Centers SA	19,700		297,642
MRV Engenharia e Participacoes SA	43,600		278,716
Multiplan Empreendimentos Imobiliarios SA	11,400		181,432
TOTAL BRAZIL			3,576,641
Canada - 5.5%
Agnico-Eagle Mines Ltd. (Canada)	6,500		328,556
Eldorado Gold Corp. (a)	33,700		400,253
Fairfax Financial Holdings Ltd. (sub. vtg.)	2,200		746,453
Niko Resources Ltd.	11,000		1,015,749
Open Text Corp. (a)	9,300		366,416
Common Stocks - continued
	Shares		Value
Canada - continued
Petrobank Energy & Resources Ltd. (a)	30,300		$ 1,497,006
Quadra Mining Ltd. (a)	13,700		183,341
TOTAL CANADA			4,537,774
Cayman Islands - 0.2%
Wynn Macau Ltd.	154,000		195,576
China - 0.6%
Ausnutria Dairy Hunan Co. Ltd. Class H	176,000		126,946
China Nepstar Chain Drugstore Ltd. ADR	55,900		337,636
TOTAL CHINA			464,582
Denmark - 0.6%
William Demant Holding AS (a)	6,300		491,652
Finland - 2.9%
Metso Corp.	16,800		563,811
Nokian Tyres PLC	35,800		865,509
Outotec OYJ	28,400		952,567
TOTAL FINLAND			2,381,887
France - 2.8%
Audika SA	12,873		471,619
Laurent-Perrier Group	4,955		425,161
Remy Cointreau SA	11,000		551,315
Saft Groupe SA	21,400		917,640
TOTAL FRANCE			2,365,735
Germany - 3.7%
Aixtron AG	34,900		1,049,857
alstria office REIT-AG	15,600		175,147
Bilfinger Berger AG	7,930		572,082
centrotherm photovoltaics AG (a)	4,200		234,184
Colonia Real Estate AG (a)	73,334		435,349
Software AG (Bearer)	5,700		647,964
TOTAL GERMANY			3,114,583
Greece - 0.7%
Terna Energy SA	69,300		559,302
Hong Kong - 0.3%
Champion (REIT)	622,000		262,773
Israel - 0.6%
Partner Communications Co. Ltd. ADR	22,400		464,576
Common Stocks - continued
	Shares		Value
Italy - 1.9%
Azimut Holdings SpA	102,800		$ 1,263,474
Interpump Group SpA (a)	66,600		343,705
TOTAL ITALY			1,607,179
Japan - 20.8%
Aioi Insurance Co. Ltd.	41,000		195,303
Aozora Bank Ltd. (a)	141,000		179,628
Asahi Co. Ltd.	12,600		198,066
Autobacs Seven Co. Ltd.	23,800		721,092
Daikoku Denki Co. Ltd.	26,400		494,251
Daikokutenbussan Co. Ltd.	17,200		520,173
FCC Co. Ltd.	20,800		411,530
Fukuoka (REIT) Investment Fund	72		399,601
GCA Savvian Group Corp.	343		398,970
Glory Ltd.	12,700		279,127
Goldcrest Co. Ltd.	8,010		225,473
Gunma Bank Ltd.	69,000		356,198
Japan Steel Works Ltd.	36,000		443,470
Kamigumi Co. Ltd.	49,000		369,115
Kobayashi Pharmaceutical Co. Ltd.	25,900		1,034,336
Kyoto Kimono Yuzen Co. Ltd.	20,900		203,050
Meiko Network Japan Co. Ltd.	19,400		116,052
Miraial Co. Ltd.	8,200		220,284
Nabtesco Corp.	35,000		413,316
Nachi-Fujikoshi Corp.	149,000		420,904
Nagaileben Co. Ltd.	9,700		210,075
Nihon Parkerizing Co. Ltd.	34,000		431,638
Nippon Seiki Co. Ltd.	44,000		485,964
Nippon Thompson Co. Ltd.	168,000		956,597
Nitto Kohki Co. Ltd.	11,000		232,381
Obic Co. Ltd.	2,790		521,715
Osaka Securities Exchange Co. Ltd.	271		1,507,052
OSG Corp.	31,600		346,560
Pal Co. Ltd.	3,900		79,192
SHO-BOND Holdings Co. Ltd.	28,200		476,404
Shoei Co. Ltd.	9,500		103,346
The Daishi Bank Ltd., Niigata	82,000		275,241
The Nippon Synthetic Chemical Industry Co. Ltd.	51,000		363,277
THK Co. Ltd.	23,500		466,251
Toho Holdings Co. Ltd.	35,000		463,720
Tsumura & Co.	13,400		424,549
Tsutsumi Jewelry Co. Ltd.	10,100		192,669
Common Stocks - continued
	Shares		Value
Japan - continued
USS Co. Ltd.	20,320		$ 1,233,562
Yamato Kogyo Co. Ltd.	27,700		876,384
TOTAL JAPAN			17,246,516
Korea (South) - 0.5%
NHN Corp. (a)	2,935		438,135
Luxembourg - 0.2%
GlobeOp Financial Services SA	42,300		144,353
Mexico - 0.9%
Cemex SA de CV sponsored ADR	33,500		307,865
Desarrolladora Homex SAB de CV sponsored ADR (a)	13,300		407,645
TOTAL MEXICO			715,510
Netherlands - 3.5%
Aalberts Industries NV	35,300		513,395
ASM International NV (NASDAQ) (a)	20,800		477,152
Heijmans NV unit (a)	18,900		337,244
James Hardie Industries NV unit (a)	102,869		682,214
QIAGEN NV (a)	40,100		872,576
TOTAL NETHERLANDS			2,882,581
Papua New Guinea - 0.7%
Lihir Gold Ltd. sponsored ADR	16,100		390,425
Oil Search Ltd.	38,097		177,195
TOTAL PAPUA NEW GUINEA			567,620
Philippines - 0.5%
Jollibee Food Corp.	359,400		405,774
Singapore - 3.1%
Allgreen Properties Ltd.	506,000		420,992
Keppel Land Ltd.	150,000		349,867
Singapore Exchange Ltd.	233,000		1,323,854
Wing Tai Holdings Ltd.	355,000		497,316
TOTAL SINGAPORE			2,592,029
South Africa - 2.9%
African Rainbow Minerals Ltd.	45,827		1,010,014
Clicks Group Ltd.	136,085		473,100
JSE Ltd.	60,100		445,471
Mr. Price Group Ltd.	101,200		467,193
TOTAL SOUTH AFRICA			2,395,778
Common Stocks - continued
	Shares		Value
Spain - 1.3%
Grifols SA	6,400		$ 97,555
Prosegur Compania de Seguridad SA (Reg.)	21,000		950,983
TOTAL SPAIN			1,048,538
Sweden - 1.2%
Intrum Justitia AB	43,400		528,347
Swedish Match Co.	21,400		448,097
TOTAL SWEDEN			976,444
Switzerland - 2.6%
Actelion Ltd. (Reg.) (a)	3,627		191,885
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	33,135		1,131,371
Sonova Holding AG Class B	6,991		865,233
TOTAL SWITZERLAND			2,188,489
Taiwan - 0.2%
Prime View International Co. Ltd. (a)	87,000		159,493
Turkey - 2.6%
Albaraka Turk Katilim Bankasi AS	223,000		363,486
Anadolu Efes Biracilik ve Malt Sanyii AS	32,000		333,478
Asya Katilim Bankasi AS (a)	279,000		738,061
Coca-Cola Icecek AS	65,000		542,770
Tupras-Turkiye Petrol Rafinerileri AS	9,000		187,882
TOTAL TURKEY			2,165,677
United Kingdom - 17.5%
AMEC PLC	20,399		245,830
Babcock International Group PLC	81,700		729,533
Bellway PLC	44,600		525,446
BlueBay Asset Management	34,700		182,247
Bovis Homes Group PLC (a)	84,400		533,461
Britvic PLC	69,700		467,357
Chloride Group PLC	124,200		361,245
Cobham PLC	99,300		367,411
Derwent London PLC	21,600		449,587
Great Portland Estates PLC	120,900		540,035
H&T Group PLC	75,923		312,469
InterContinental Hotel Group PLC ADR	39,600		565,092
Johnson Matthey PLC	26,600		618,383
Meggitt PLC	136,700		563,036
Mothercare PLC	51,700		528,773
Persimmon PLC (a)	43,900		301,368
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Quintain Estates & Development PLC (a)	195,900		$ 182,940
Rotork PLC	16,600		334,376
Serco Group PLC	131,322		1,043,828
Shaftesbury PLC	87,000		526,769
Spectris PLC	39,179		475,951
Spirax-Sarco Engineering PLC	48,100		960,081
SSL International PLC	108,047		1,338,846
St. Modwen Properties PLC (a)	66,200		198,614
Ted Baker PLC	57,000		448,975
Ultra Electronics Holdings PLC	22,300		451,057
Unite Group PLC (a)	208,500		955,100
Victrex PLC	27,300		353,715
TOTAL UNITED KINGDOM			14,561,525
United States of America - 8.7%
Advanced Energy Industries, Inc. (a)	72,200		947,264
Airgas, Inc.	9,600		405,696
Autoliv, Inc.	21,600		924,696
Cymer, Inc. (a)	13,200		414,084
Dril-Quip, Inc. (a)	6,800		356,932
ION Geophysical Corp. (a)	64,700		307,325
Juniper Networks, Inc. (a)	18,400		456,872
Kansas City Southern (a)	18,200		540,540
Lam Research Corp. (a)	5,700		188,157
Martin Marietta Materials, Inc.	3,800		300,884
Mohawk Industries, Inc. (a)	20,200		836,482
PriceSmart, Inc.	42,800		856,428
ResMed, Inc. (a)	9,000		460,260
Varian Semiconductor Equipment Associates, Inc. (a)	8,400		246,372
TOTAL UNITED STATES OF AMERICA			7,241,992
TOTAL COMMON STOCKS (Cost $84,865,976)		81,750,683
Money Market Funds - 1.9%
	Shares		Value
Fidelity Cash Central Fund, 0.17% (b) (Cost $1,558,786)	1,558,786		$ 1,558,786
TOTAL INVESTMENT PORTFOLIO - 100.4% (Cost $86,424,762)			83,309,469
NET OTHER ASSETS - (0.4)%			(298,276)
NET ASSETS - 100%		$ 83,011,193

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 1,073

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 17,246,516	$ 17,246,516	$ -	$ -
United Kingdom	14,561,525	565,092	13,996,433	-
United States of America	7,241,992	7,241,992	-	-
Canada	4,537,774	4,537,774	-	-
Brazil	3,576,641	3,576,641	-	-
Germany	3,114,583	-	3,114,583	-
Netherlands	2,882,581	2,031,942	850,639	-
Singapore	2,592,029	2,592,029	-	-
South Africa	2,395,778	2,395,778	-	-
Other	23,601,264	8,522,411	15,078,853	-
Money Market Funds	1,558,786	1,558,786	-	-
Total Investments in Securities	$ 83,309,469	$ 50,268,961	$ 33,040,508	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $86,426,406. Net unrealized depreciation aggregated $3,116,937, of which $1,408,236 related to appreciated investment securities and $4,525,173 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Series International
Value Fund

January 31, 2010

1.907974.100

VSF-S-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%
	Shares		Value
Australia - 3.1%
AMP Ltd.	146,746		$ 812,299
Macquarie Group Ltd.	99,168		4,398,496
Macquarie Infrastructure Group unit	1,303,060		1,399,960
MAp Group unit	426,841		1,049,267
Wesfarmers Ltd.	64,902		1,578,788
Westfield Group unit	297,471		3,324,810
TOTAL AUSTRALIA			12,563,620
Bailiwick of Jersey - 1.2%
Informa PLC	402,947		2,111,496
United Business Media Ltd.	169,000		1,147,335
WPP PLC	166,949		1,540,473
TOTAL BAILIWICK OF JERSEY			4,799,304
Bermuda - 1.0%
Seadrill Ltd.	177,800		4,034,424
Brazil - 1.1%
Banco do Brasil SA	63,900		948,500
Banco Santander (Brasil) SA ADR	165,700		1,995,028
Itau Unibanco Banco Multiplo SA ADR	48,400		927,344
Petroleo Brasileiro SA - Petrobras sponsored ADR	17,800		722,146
TOTAL BRAZIL			4,593,018
Canada - 3.0%
Open Text Corp. (a)	58,200		2,293,057
Petrobank Energy & Resources Ltd. (a)	38,300		1,892,256
Power Corp. of Canada (sub. vtg.)	54,000		1,417,039
Suncor Energy, Inc.	60,200		1,900,638
Toronto-Dominion Bank	78,900		4,648,555
TOTAL CANADA			12,151,545
China - 1.1%
China Merchants Bank Co. Ltd. (H Shares)	712,500		1,657,372
Industrial & Commercial Bank of China Ltd. (H Shares)	2,160,000		1,585,791
Nine Dragons Paper (Holdings) Ltd.	841,000		1,191,533
TOTAL CHINA			4,434,696
Denmark - 1.1%
Novo Nordisk AS Series B	26,128		1,767,699
Vestas Wind Systems AS (a)	54,491		2,865,930
TOTAL DENMARK			4,633,629
Common Stocks - continued
	Shares		Value
France - 10.8%
Accor SA	22,112		$ 1,115,517
AXA SA sponsored ADR	453,700		9,341,683
BNP Paribas SA	83,274		5,948,627
Compagnie de St. Gobain	40,389		1,929,333
Pernod-Ricard SA	12,200		981,306
PPR SA	9,400		1,146,256
Sanofi-Aventis	14,061		1,039,695
Sanofi-Aventis sponsored ADR	104,800		3,857,688
Schneider Electric SA	14,099		1,454,466
Societe Generale Series A	81,992		4,743,658
Total SA:
Series B	11,864		685,636
sponsored ADR	116,900		6,732,271
Unibail-Rodamco	20,742		4,494,259
TOTAL FRANCE			43,470,395
Germany - 9.2%
Allianz AG sponsored ADR	361,600		3,955,904
BASF AG	36,692		2,082,502
Bayerische Motoren Werke AG (BMW)	46,229		1,970,466
Daimler AG	114,700		5,254,407
Deutsche Boerse AG	24,700		1,616,966
E.ON AG	333,521		12,241,561
Metro AG	29,200		1,592,762
Munich Re Group (Reg.)	54,945		8,207,509
TOTAL GERMANY			36,922,077
Greece - 0.5%
Hellenic Telecommunications Organization SA	134,669		1,844,977
Hong Kong - 3.8%
China Overseas Land & Investment Ltd.	598,000		1,072,155
China Resources Power Holdings Co. Ltd.	870,000		1,689,810
CNOOC Ltd.	1,114,000		1,561,961
Hutchison Whampoa Ltd.	261,000		1,786,739
Swire Pacific Ltd. (A Shares)	703,500		7,688,351
Techtronic Industries Co. Ltd.	1,598,500		1,325,915
TOTAL HONG KONG			15,124,931
Indonesia - 0.3%
PT Bank Rakyat Indonesia Tbk	1,628,000		1,332,002
Ireland - 0.9%
CRH PLC sponsored ADR	151,200		3,718,008
Common Stocks - continued
	Shares		Value
Italy - 2.8%
Intesa Sanpaolo SpA	1,980,640		$ 7,539,307
UniCredit SpA	1,352,300		3,728,980
TOTAL ITALY			11,268,287
Japan - 19.8%
Credit Saison Co. Ltd.	104,600		1,302,430
Denso Corp.	87,400		2,580,270
East Japan Railway Co.	63,500		4,269,912
Honda Motor Co. Ltd.	60,200		2,040,012
Japan Retail Fund Investment Corp.	343		1,595,879
JSR Corp.	69,000		1,362,878
KDDI Corp.	222		1,171,851
Konica Minolta Holdings, Inc.	147,000		1,504,686
Miraca Holdings, Inc.	90,100		2,704,896
Mitsubishi Estate Co. Ltd.	55,000		894,428
Mitsubishi UFJ Financial Group, Inc.	1,349,200		6,942,695
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	221,000		1,133,730
Mitsui & Co. Ltd.	607,900		8,970,010
Nippon Electric Glass Co. Ltd.	68,000		961,205
Obic Co. Ltd.	8,520		1,593,194
ORIX Corp.	31,340		2,360,829
Promise Co. Ltd. (a)	193,250		1,789,709
Seven & i Holdings Co., Ltd.	64,700		1,416,992
Sumitomo Corp.	328,200		3,704,839
Sumitomo Metal Industries Ltd.	725,000		1,999,834
Sumitomo Mitsui Financial Group, Inc.	104,600		3,400,919
Tokio Marine Holdings, Inc.	46,100		1,246,084
Tokuyama Corp.	108,000		573,081
Tokyo Electric Power Co.	108,500		2,926,747
Tokyo Gas Co., Ltd.	804,000		3,259,820
Toyota Motor Corp.	303,000		11,653,799
USS Co. Ltd.	26,150		1,587,482
Xebio Co. Ltd.	55,100		1,035,223
Yamada Denki Co. Ltd.	55,720		3,586,277
TOTAL JAPAN			79,569,711
Korea (South) - 0.4%
Shinhan Financial Group Co. Ltd. (a)	35,420		1,239,809
Shinhan Financial Group Co. Ltd. sponsored ADR	4,600		318,688
TOTAL KOREA (SOUTH)			1,558,497
Common Stocks - continued
	Shares		Value
Luxembourg - 1.2%
ArcelorMittal SA:
(Netherlands)	39,108		$ 1,513,927
(NY Shares) Class A	82,000		3,171,760
TOTAL LUXEMBOURG			4,685,687
Mexico - 0.2%
America Movil SAB de CV Series L sponsored ADR	19,400		846,810
Netherlands - 2.3%
Gemalto NV (a)	55,806		2,215,360
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	289,952		2,715,196
sponsored ADR (a)	86,700		814,980
Koninklijke Ahold NV	134,754		1,693,235
Koninklijke KPN NV	110,075		1,822,613
TOTAL NETHERLANDS			9,261,384
Norway - 1.2%
Aker Solutions ASA	102,000		1,361,176
DnB NOR ASA (a)	203,000		2,292,340
Orkla ASA (A Shares)	136,600		1,231,826
TOTAL NORWAY			4,885,342
Philippines - 0.3%
Philippine Long Distance Telephone Co. sponsored ADR	24,700		1,382,459
Portugal - 0.5%
Energias de Portugal SA	495,597		1,964,372
Russia - 0.3%
OAO Gazprom sponsored ADR	48,100		1,164,020
Singapore - 1.5%
DBS Group Holdings Ltd.	303,000		3,076,864
United Overseas Bank Ltd.	239,000		3,086,393
TOTAL SINGAPORE			6,163,257
South Africa - 1.3%
Impala Platinum Holdings Ltd.	113,800		2,948,535
MTN Group Ltd.	162,800		2,337,583
TOTAL SOUTH AFRICA			5,286,118
Spain - 2.9%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR	70,400		1,069,376
Banco Santander SA	99,087		1,405,100
Banco Santander SA sponsored ADR	227,400		3,201,792
Common Stocks - continued
	Shares		Value
Spain - continued
Iberdrola SA	141,700		$ 1,206,374
Telefonica SA sponsored ADR	67,200		4,811,520
TOTAL SPAIN			11,694,162
Sweden - 0.5%
Telefonaktiebolaget LM Ericsson (B Shares)	187,709		1,819,009
Switzerland - 5.8%
Roche Holding AG (participation certificate)	62,294		10,450,633
Transocean Ltd. (a)	53,500		4,533,590
UBS AG (NY Shares) (a)	90,000		1,170,900
Zurich Financial Services AG (Reg.)	33,868		7,200,410
TOTAL SWITZERLAND			23,355,533
Taiwan - 0.7%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	391,000		1,645,221
Taiwan Semiconductor Manufacturing Co. Ltd.	647,000		1,244,815
TOTAL TAIWAN			2,890,036
Thailand - 0.3%
Siam Commercial Bank PCL (For. Reg.)	510,200		1,225,925
United Kingdom - 18.3%
Aberdeen Asset Management PLC	502,476		988,827
Aegis Group PLC	752,505		1,431,545
Anglo American PLC (United Kingdom) (a)	111,600		4,094,593
BAE Systems PLC	385,400		2,161,410
Barclays PLC	452,235		1,932,797
BP PLC sponsored ADR	104,600		5,870,152
Carphone Warehouse Group PLC	552,600		1,676,816
Centrica PLC	512,400		2,199,682
easyJet PLC (a)	372,200		2,311,500
HSBC Holdings PLC:
(United Kingdom) (Reg.)	360,800		3,862,447
sponsored ADR	84,600		4,526,946
Imperial Tobacco Group PLC	11,423		368,355
International Power PLC	237,537		1,212,693
Man Group PLC	527,102		1,975,436
Misys PLC (a)	494,800		1,689,856
National Grid PLC	140,800		1,414,115
Prudential PLC	557,076		5,101,943
Rio Tinto PLC (Reg.)	80,000		3,901,088
Royal Dutch Shell PLC Class A sponsored ADR	233,800		12,950,183
Vodafone Group PLC	675,200		1,442,458
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Vodafone Group PLC sponsored ADR	470,900		$ 10,105,514
Wolseley PLC (a)	106,915		2,352,152
TOTAL UNITED KINGDOM			73,570,508
TOTAL COMMON STOCKS (Cost $414,334,764)		392,213,743
Nonconvertible Preferred Stocks - 1.0%
Italy - 1.0%
Fiat SpA (Risparmio Shares)	140,600		1,131,677
Telecom Italia SpA (Risparmio Shares)	2,575,200		2,991,199
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $4,201,045)		4,122,876
Money Market Funds - 1.4%
Fidelity Cash Central Fund, 0.17% (b) (Cost $5,577,108)	5,577,108		5,577,108
TOTAL INVESTMENT PORTFOLIO - 99.8% (Cost $424,112,917)			401,913,727
NET OTHER ASSETS - 0.2%			748,986
NET ASSETS - 100%		$ 402,662,713

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 2,615

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table 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:
Japan	$ 79,569,711	$ 58,933,205	$ 20,636,506	$ -
United Kingdom	73,570,508	33,452,795	40,117,713	-
France	43,470,395	19,931,642	23,538,753	-
Germany	36,922,077	9,210,311	27,711,766	-
Switzerland	23,355,533	5,704,490	17,651,043	-
Italy	15,391,163	-	15,391,163	-
Hong Kong	15,124,931	13,562,970	1,561,961	-
Australia	12,563,620	12,563,620	-	-
Canada	12,151,545	12,151,545	-	-
Other	84,217,136	46,424,465	37,792,671	-
Money Market Funds	5,577,108	5,577,108	-	-
Total Investments in Securities:	$ 401,913,727	$ 217,512,151	$ 184,401,576	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $424,591,923. Net unrealized depreciation aggregated $22,678,196, of which $4,044,106 related to appreciated investment securities and $26,722,302 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Southeast Asia Fund -
Southeast Asia Fund
Class F

January 31, 2010

1.813038.105

SEA-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.2%
	Shares		Value
Bermuda - 1.4%
Beijing Enterprises Water Group Ltd. (a)	6,282,000		$ 2,047,084
Huabao International Holdings Ltd.	7,496,000		7,627,355
Noble Group Ltd.	4,481,000		9,177,088
Orient Overseas International Ltd.	766,000		5,258,638
TOTAL BERMUDA			24,110,165
Canada - 0.2%
Niko Resources Ltd.	37,300		3,444,311
Cayman Islands - 4.1%
AAC Acoustic Technology Holdings, Inc.	2,790,000		4,614,095
Agile Property Holdings Ltd.	5,776,000		7,298,161
Bosideng International Holdings Ltd.	9,210,000		1,826,828
Central China Real Estate Ltd.	11,750,000		2,845,201
Chaoda Modern Agriculture (Holdings) Ltd.	8,198,000		8,067,120
China Shineway Pharmaceutical Group Ltd.	831,000		1,455,651
Daphne International Holdings Ltd.	6,780,000		5,152,274
Hengan International Group Co. Ltd.	1,004,000		6,724,412
Hengdeli Holdings Ltd.	12,388,000		4,116,595
JA Solar Holdings Co. Ltd. ADR (a)	506,690		2,178,767
Kingboard Chemical Holdings Ltd.	1,462,500		6,272,741
Kingboard Chemical Holdings Ltd. rights 1/27/10 (a)	86,029		0
Mindray Medical International Ltd. sponsored ADR (c)	138,200		4,819,034
Perfect World Co. Ltd. sponsored ADR Class B (a)	104,100		3,881,889
Sany Heavy Equipment International Holdings Co. Ltd.	84,000		87,095
TCC International Holdings Ltd. (a)	5,352,000		2,074,913
Trina Solar Ltd. ADR (a)(c)	132,200		2,899,146
Xinao Gas Holdings Ltd.	2,624,000		6,238,969
TOTAL CAYMAN ISLANDS			70,552,891
China - 16.1%
Bank of China (H Shares)	21,721,000		10,491,277
Bank of Communications Co. Ltd. (H Shares)	10,854,000		11,030,218
China Citic Bank Corp. Ltd. Class H	14,054,000		9,467,142
China Communications Services Corp. Ltd. (H Shares)	18,838,000		9,608,315
China Construction Bank Corp. (H Shares)	50,885,000		39,192,975
China Eastern Airlines Corp. Ltd. (a)	9,056,000		3,044,347
China Life Insurance Co. Ltd. (H Shares)	7,681,000		33,873,546
China Oilfield Services Ltd. (H Shares)	5,648,000		6,750,873
China Petroleum & Chemical Corp. (H Shares)	7,406,000		5,761,586
China Resources Gas Group Ltd.	898,000		1,313,929
China Yurun Food Group Ltd.	3,428,000		9,625,307
Dalian Port (PDA) Co. Ltd. (H Shares)	8,354,000		3,367,876
Dongfeng Motor Group Co. Ltd. (H Shares)	6,870,000		9,007,863
	Shares		Value
Huaneng Power International, Inc. (H Shares)	26,458,000		$ 14,729,193
Industrial & Commercial Bank of China Ltd. (H Shares)	54,952,000		40,343,691
Jiangsu Expressway Co. Ltd. (H Shares)	10,038,000		8,985,645
Minth Group Ltd.	1,258,000		1,592,764
Nine Dragons Paper (Holdings) Ltd.	3,159,000		4,475,686
PetroChina Co. Ltd. (H Shares)	27,148,000		30,319,568
Shenzhou International Group Holdings Ltd.	2,124,000		2,691,949
Solarfun Power Holdings Co. Ltd. ADR (a)	217,728		1,569,819
Tencent Holdings Ltd.	646,700		12,094,467
Yanzhou Coal Mining Co. Ltd. (H Shares)	4,212,000		8,376,314
TOTAL CHINA			277,714,350
Hong Kong - 17.5%
ASM Pacific Technology Ltd.	503,100		4,179,567
BOC Hong Kong Holdings Ltd.	4,684,000		9,833,809
China Agri-Industries Holding Ltd.	3,640,000		4,997,765
China Everbright Ltd.	378,000		895,833
China Mobile (Hong Kong) Ltd.	6,752,800		63,440,736
China Overseas Land & Investment Ltd.	6,854,000		12,288,549
China Resources Power Holdings Co. Ltd.	7,219,116		14,021,763
CLP Holdings Ltd.	2,441,000		16,506,095
CNOOC Ltd.	23,286,000		32,649,757
CNPC (Hong Kong) Ltd.	8,300,000		10,359,031
Guangdong Investment Ltd.	14,070,000		7,212,643
Henderson Land Development Co. Ltd.	1,306,000		8,267,686
Hutchison Whampoa Ltd.	2,518,000		17,237,579
Lenovo Group Ltd.	12,330,000		8,528,146
Li & Fung Ltd.	524,000		2,402,695
Link (REIT)	4,393,550		10,593,481
New World Development Co. Ltd.	7,096,000		11,698,787
PCCW Ltd.	23,651,000		6,244,830
Shanghai Industrial Holdings Ltd.	1,703,000		7,951,333
Shenzhen Investment Ltd.	9,082,000		3,263,645
Singamas Container Holdings Ltd. (a)	12,324,000		1,920,677
Sino Land Co.	2,680,000		4,445,984
Sun Hung Kai Properties Ltd.	339,000		4,379,433
Swire Pacific Ltd. (A Shares)	1,299,500		14,201,866
Tingyi (Cayman Island) Holding Corp.	5,346,000		11,567,926
Wharf Holdings Ltd.	2,619,000		13,020,872
TOTAL HONG KONG			302,110,488
India - 1.0%
Bank of Baroda	226,815		2,829,963
Ess Dee Aluminium Ltd.	188,523		1,444,628
JSW Steel Ltd.	117,325		2,506,749
Patni Computer Systems Ltd.	288,338		2,894,632
Tata Consultancy Services Ltd.	292,215		4,664,037
Tata Steel Ltd.	296,277		3,655,528
TOTAL INDIA			17,995,537
Common Stocks - continued
	Shares		Value
Indonesia - 4.3%
BISI International Tbk PT (a)	15,339,500		$ 2,526,509
PT Astra International Tbk	2,600,000		9,996,803
PT Bank Mandiri Persero Tbk	10,000,000		5,000,006
PT Bank Rakyat Indonesia Tbk	19,447,500		15,911,610
PT Indocement Tunggal Prakarsa Tbk	3,735,500		5,393,509
PT Indofood Sukses Makmur Tbk	7,709,000		2,968,175
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk	3,243,500		2,948,640
PT Telkomunikasi Indonesia Tbk Series B	18,814,000		18,814,023
PT United Tractors Tbk	5,565,000		10,028,916
TOTAL INDONESIA			73,588,191
Korea (South) - 21.4%
Amorepacific Corp.	2,000		1,397,877
Busan Bank	911,460		8,965,952
Cheil Worldwide, Inc.	13,024		2,966,895
CJ CheilJedang Corp.	26,687		4,812,824
CJ Corp.	165,780		9,612,920
Daehan Steel Co. Ltd.	144,840		1,680,988
Duksan Hi-Metal Co. Ltd. (a)	142,060		1,611,950
GS Engineering & Construction Corp.	87,570		6,717,552
Halla Climate Control Co.	376,210		3,863,058
Hana Financial Group, Inc.	299,110		8,594,668
Hanwha Corp.	126,320		5,095,745
Hynix Semiconductor, Inc. (a)	629,030		12,348,286
Hyundai Department Store Co. Ltd.	107,426		9,408,695
Hyundai Engineering & Construction Co. Ltd.	226,708		12,598,146
Hyundai H&S Co. Ltd.	46,912		2,833,583
Hyundai Mobis	88,597		11,314,482
Hyundai Motor Co.	133,571		13,024,005
Hyundai Steel Co.	108,565		7,990,847
Industrial Bank of Korea (a)	865,360		9,819,209
KCC Corp.	14,976		4,406,605
Kia Motors Corp. (a)	419,250		7,072,513
Korea Gas Corp.	111,392		4,998,173
Korea Zinc Co. Ltd.	23,448		3,429,489
LG Corp.	178,695		9,698,777
LG Home Shopping, Inc.	46,890		2,836,300
LG Telecom Ltd.	1,461,670		11,363,917
LIG Non-Life Insurance Co. Ltd.	186,940		3,314,881
NHN Corp. (a)	79,353		11,845,772
Nong Shim Co. Ltd.	21,290		4,179,372
ON*Media Corp. (a)	761,090		2,269,018
POSCO	76,082		35,188,490
Samsung C&T Corp.	163,586		8,130,599
Samsung Electronics Co. Ltd.	113,726		76,936,031
Samsung Engineering Co. Ltd.	82,163		8,046,853
Samsung Fire & Marine Insurance Co. Ltd.	70,479		11,281,259
Shinhan Financial Group Co. Ltd. (a)	749,987		26,251,861
	Shares		Value
STX Pan Ocean Co. Ltd. (Korea)	40,000		$ 407,283
Tong Yang Securities, Inc.	348,700		3,234,553
TOTAL KOREA (SOUTH)			369,549,428
Malaysia - 3.4%
AMMB Holdings Bhd	3,136,200		4,463,557
Bumiputra-Commerce Holdings Bhd	3,255,100		12,068,106
Genting Malaysia Bhd	9,847,200		8,016,756
KLCC Property Holdings Bhd	5,090,200		4,934,054
Lafarge Malayan Cement Bhd	804,500		1,484,252
Malayan Banking Bhd	6,966,900		13,853,211
PLUS Expressways Bhd	10,645,900		10,319,329
Top Glove Corp. Bhd	936,900		3,067,440
TOTAL MALAYSIA			58,206,705
Mauritius - 0.4%
Golden Agri-Resources Ltd. (a)	18,867,000		6,976,597
Philippines - 0.5%
Aboitiz Power Corp.	9,424,000		1,925,333
Ayala Land, Inc.	14,721,300		3,324,164
Bank of the Philippine Islands (BPI)	4,210,500		4,119,952
TOTAL PHILIPPINES			9,369,449
Singapore - 6.4%
Ascendas Real Estate Investment Trust (A-REIT)	5,478,000		7,557,205
City Developments Ltd.	894,000		6,815,061
DBS Group Holdings Ltd.	813,000		8,255,744
Jardine Cycle & Carriage Ltd.	330,000		5,937,067
Keppel Corp. Ltd.	2,989,000		17,790,528
Oversea-Chinese Banking Corp. Ltd.	3,939,406		22,943,101
Parkway Holdings Ltd. (a)	1,958,000		3,759,360
Raffles Medical Group Ltd.	1,669,000		1,637,845
SembCorp Industries Ltd.	3,110,000		7,806,791
United Overseas Bank Ltd.	1,612,000		20,817,010
Wing Tai Holdings Ltd.	2,990,000		4,188,658
Yanlord Land Group Ltd.	1,732,000		2,167,694
TOTAL SINGAPORE			109,676,064
Taiwan - 17.9%
Advanced Semiconductor Engineering, Inc.	8,634,000		6,779,906
ASUSTeK Computer, Inc.	6,451,000		12,512,498
AU Optronics Corp.	17,145,460		19,229,305
Cando Corp. (a)	1,153,956		942,226
China Steel Corp.	16,628,859		16,907,177
Chinatrust Financial Holding Co. Ltd.	20,402,334		11,169,743
Compal Electronics, Inc.	8,532,000		11,904,496
Coretronic Corp.	5,716,000		8,136,337
Delta Electronics, Inc.	4,052,000		12,296,074
Farglory Land Development Co. Ltd.	80,000		170,186
Formosa Plastics Corp.	9,530,000		19,856,030
Foxconn Technology Co. Ltd.	1,793,000		7,095,714
Fubon Financial Holding Co. Ltd. (a)	15,156,000		17,732,970
Common Stocks - continued
	Shares		Value
Taiwan - continued
Hon Hai Precision Industry Co. Ltd. (Foxconn)	9,622,350		$ 40,488,224
Hotai Motor Co. Ltd.	835,000		1,825,950
Huaku Development Co. Ltd.	1,721,500		4,324,619
Hung Poo Real Estate Development Co. Ltd.	1,950,447		2,782,430
Insyde Software Corp.	579,000		2,336,649
Lite-On Technology Corp.	4,586,000		5,839,205
Macronix International Co. Ltd.	14,996,000		8,374,115
MediaTek, Inc.	448,000		7,287,971
Novatek Microelectronics Corp.	1,429,000		4,215,695
Powertech Technology, Inc.	2,116,000		6,785,234
Prime View International Co. Ltd. (a)	966,000		1,770,924
Quanta Computer, Inc.	5,151,000		10,297,166
Silitech Technology Corp.	960,000		3,393,712
Taiwan Mobile Co. Ltd.	8,659,000		16,768,093
Taiwan Semiconductor Manufacturing Co. Ltd.	11,946,192		22,984,227
Tripod Technology Corp.	1,290,000		4,439,230
U-Ming Marine Transport Corp.	1,860,000		3,543,688
Unimicron Technology Corp.	2,849,000		3,480,477
Wistron Corp.	4,093,000		7,798,020
Yuanta Financial Holding Co. Ltd.	9,865,000		6,295,824
TOTAL TAIWAN			309,764,115
Thailand - 3.6%
Bangkok Bank Ltd. PCL:
NVDR	1,525,300		5,193,097
(For. Reg.)	867,100		2,939,101
Banpu PCL:
unit	602,600		9,586,406
(For. Reg.)	77,500		1,232,901
C.P. Seven Eleven PCL	4,246,000		2,942,392
Kasikornbank PCL (For. Reg.)	2,118,100		5,615,932
National Finance PCL (For. Reg.)	8,649,200		5,055,573
	Shares		Value
Preuksa Real Estate PCL (For. Reg.)	3,937,800		$ 1,922,036
Quality Houses PCL	61,308,900		4,100,806
Siam Cement PCL (For. Reg.)	1,220,600		8,164,302
Siam Commercial Bank PCL (For. Reg.)	4,030,500		9,684,615
TICON Industrial Connection PCL (For. Reg.)	6,895,500		1,828,274
Total Access Communication PCL unit	4,431,100		4,305,603
TOTAL THAILAND			62,571,038
United Kingdom - 1.0%
HSBC Holdings PLC (Hong Kong) (Reg.)	1,582,800		16,897,303
TOTAL COMMON STOCKS (Cost $1,666,538,985)		1,712,526,632
Money Market Funds - 0.6%
Fidelity Cash Central Fund, 0.17% (d)	5,039,000		5,039,000
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(d)	4,585,000		4,585,000
TOTAL MONEY MARKET FUNDS (Cost $9,624,000)		9,624,000

TOTAL INVESTMENT PORTFOLIO - 99.8% (Cost $1,676,162,985) 1,722,150,632

NET OTHER ASSETS - 0.2%		3,644,081
NET ASSETS - 100%	$ 1,725,794,713

Legend

(a) Non-income producing

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

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

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 7,675
Fidelity Securities Lending Cash Central Fund	23,099
Total	$ 30,774

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Korea (South)	$ 369,549,428	$ 343,297,567	$ 26,251,861	$ -
Taiwan	309,764,115	302,984,209	6,779,906	-
Hong Kong	302,110,488	206,019,995	96,090,493	-
China	277,714,350	193,030,457	84,683,893	-
Singapore	109,676,064	109,676,064	-	-
Indonesia	73,588,191	73,588,191	-	-
Cayman Islands	70,552,891	70,552,891	-	-
Thailand	62,571,038	62,571,038	-	-
Malaysia	58,206,705	58,206,705	-	-
Other	78,793,362	61,896,059	16,897,303	-
Money Market Funds	9,624,000	9,624,000	-	-
Total Investments in Securities:	$ 1,722,150,632	$ 1,491,447,176	$ 230,703,456	$ -

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

Investments in Securities:
Beginning Balance	$ 1,846,452
Total Realized Gain (Loss)	679,224
Total Unrealized Gain (Loss)	318,852
Cost of Purchases	-
Proceeds of Sales	(1,530,599)
Amortization/Accretion	-
Transfers in/out of Level 3	(1,313,929)
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $1,699,978,966. Net unrealized appreciation aggregated $22,171,666, of which $106,715,835 related to appreciated investment securities and $84,544,169 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Total International
Equity Fund

January 31, 2010

1.863104.102

TIE-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.8%
	Shares		Value
Argentina - 0.1%
Banco Macro SA sponsored ADR	1,100		$ 31,361
Australia - 3.0%
AMP Ltd.	6,966		38,560
CSL Ltd.	4,491		123,821
Leighton Holdings Ltd.	6,104		206,183
Macquarie Group Ltd.	5,332		236,495
Macquarie Infrastructure Group unit	66,523		71,470
MAp Group unit	70,063		172,230
OZ Minerals Ltd. (a)	90,871		85,576
QBE Insurance Group Ltd.	3,683		74,643
Wesfarmers Ltd.	3,313		80,591
Westfield Group unit	15,995		178,775
Woolworths Ltd.	12,632		288,852
Worleyparsons Ltd.	2,886		60,200
TOTAL AUSTRALIA			1,617,396
Austria - 0.2%
Andritz AG	1,790		99,971
Bailiwick of Jersey - 0.7%
Informa PLC	44,088		231,027
Randgold Resources Ltd. sponsored ADR	400		27,572
United Business Media Ltd.	8,700		59,064
WPP PLC	8,096		74,703
TOTAL BAILIWICK OF JERSEY			392,366
Belgium - 1.4%
Anheuser-Busch InBev SA NV	13,025		649,950
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,080		42
Gimv NV	200		10,242
Umicore SA	3,716		114,524
TOTAL BELGIUM			774,758
Bermuda - 1.3%
Aquarius Platinum Ltd. (Australia) (a)	7,447		43,988
Credicorp Ltd. (NY Shares)	700		52,241
Lazard Ltd. Class A	1,200		46,248
Northern Offshore Ltd. (a)	3,000		5,189
Ports Design Ltd.	68,500		184,838
Scorpion Offshore Ltd. (a)	1,500		6,522
Common Stocks - continued
	Shares		Value
Bermuda - continued
Seadrill Ltd.	14,900		$ 338,093
Trinity Ltd.	14,000		6,582
TOTAL BERMUDA			683,701
Brazil - 5.1%
Anhanguera Educacional Participacoes SA unit (a)	1,226		16,910
Banco ABC Brasil SA	18,800		119,682
Banco do Brasil SA	6,500		96,483
Banco Santander (Brasil) SA ADR	8,900		107,156
BM&F BOVESPA SA	36,100		242,646
BR Malls Participacoes SA (a)	5,600		60,872
Braskem SA Class A sponsored ADR (a)(b)	12,200		169,702
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	3,400		62,751
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	2,500		41,675
Companhia Siderurgica Nacional SA (CSN) sponsored ADR (b)	2,000		58,240
Cosan SA Industria e Comercio (a)	2,650		30,225
Fibria Celulose SA sponsored ADR (a)	7,050		128,874
Gerdau SA	3,500		35,891
Gerdau SA (PN)	700		9,403
Iguatemi Empresa de Shopping Centers SA	4,000		60,435
Itau Unibanco Banco Multiplo SA ADR	13,847		265,309
Localiza Rent A Car SA	2,600		27,241
MRV Engenharia e Participacoes SA	7,800		49,862
Multiplan Empreendimentos Imobiliarios SA	2,900		46,154
Natura Cosmeticos SA	1,920		34,754
Net Servicos de Comunicacao SA sponsored ADR	3,400		40,222
OGX Petroleo e Gas Participacoes SA	6,500		58,103
PDG Realty S.A. Empreendimentos e Participacoes	3,200		25,244
Petroleo Brasileiro SA - Petrobras:
(PN) sponsored ADR (non-vtg.)	3,400		122,672
sponsored ADR	8,200		332,674
Tele Norte Leste Participacoes SA sponsored ADR (non-vtg.)	2,900		51,678
Tivit Terc de Tec E Servico SA	2,090		17,186
Vale SA:
(PN-A) sponsored ADR	11,800		266,444
sponsored ADR	4,300		110,897
Vivo Participacoes SA sponsored ADR	1,200		33,588
TOTAL BRAZIL			2,722,973
Canada - 2.9%
Agnico-Eagle Mines Ltd. (Canada)	3,760		190,057
Common Stocks - continued
	Shares		Value
Canada - continued
Eldorado Gold Corp. (a)	3,470		$ 41,213
Eldorado Gold Corp. unit (a)	236		2,832
Fairfax Financial Holdings Ltd. (sub. vtg.)	270		91,610
First Quantum Minerals Ltd.	400		29,010
Goldcorp, Inc.	1,300		44,059
Niko Resources Ltd.	2,630		242,856
Open Text Corp. (a)	5,400		212,758
Petrobank Energy & Resources Ltd. (a)	5,200		256,912
Power Corp. of Canada (sub. vtg.)	2,900		76,100
Quadra Mining Ltd. (a)	500		6,691
Sherritt International Corp.	2,800		16,078
Suncor Energy, Inc.	3,300		104,188
Toronto-Dominion Bank	4,200		247,452
Uranium One, Inc. (a)	6,700		20,740
TOTAL CANADA			1,582,556
Cayman Islands - 0.4%
China Shanshui Cement Group Ltd.	29,000		16,921
Eurasia Drilling Co. Ltd. GDR (Reg. S)	1,500		20,555
Geely Automobile Holdings Ltd.	50,000		22,218
Hengan International Group Co. Ltd.	6,300		42,195
Hidili Industry International Development Ltd. (a)	25,000		26,436
Integra Group Holdings unit (a)	5,500		18,842
Wynn Macau Ltd.	41,400		52,577
Xinao Gas Holdings Ltd.	13,000		30,910
TOTAL CAYMAN ISLANDS			230,654
China - 1.7%
Ausnutria Dairy Hunan Co. Ltd. Class H	5,000		3,606
Baidu.com, Inc. sponsored ADR (a)	50		20,586
China Construction Bank Corp. (H Shares)	168,000		129,398
China Merchants Bank Co. Ltd. (H Shares)	58,800		136,777
China Nepstar Chain Drugstore Ltd. ADR	1,750		10,570
China Yurun Food Group Ltd.	14,000		39,310
Golden Eagle Retail Group Ltd. (H Shares)	12,000		21,669
Industrial & Commercial Bank of China Ltd. (H Shares)	278,000		204,097
Jiangsu Expressway Co. Ltd. (H Shares)	34,000		30,436
Minth Group Ltd.	16,000		20,258
Nine Dragons Paper (Holdings) Ltd.	43,000		60,923
Parkson Retail Group Ltd.	13,500		23,161
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	9,000		70,480
Tencent Holdings Ltd.	4,000		74,807
Common Stocks - continued
	Shares		Value
China - continued
Weichai Power Co. Ltd. (H Shares)	4,000		$ 28,980
ZTE Corp. (H Shares)	6,040		35,475
TOTAL CHINA			910,533
Czech Republic - 0.1%
Ceske Energeticke Zavody AS	800		38,934
Denmark - 1.2%
Novo Nordisk AS:
Series B	1,267		85,719
Series B sponsored ADR	4,100		276,463
Vestas Wind Systems AS (a)	2,795		147,002
William Demant Holding AS (a)	1,440		112,378
TOTAL DENMARK			621,562
Egypt - 0.2%
Commercial International Bank Ltd.	4,700		51,515
Orascom Telecom Holding SAE	5,300		5,741
Orascom Telecom Holding SAE rights 3/1/10 (a)	25,970		23,380
TOTAL EGYPT			80,636
Finland - 0.9%
Metso Corp.	4,100		137,597
Nokian Tyres PLC	8,302		200,711
Outotec OYJ	4,200		140,873
TOTAL FINLAND			479,181
France - 5.6%
Accor SA	1,151		58,066
Alstom SA	295		19,696
Audika SA	900		32,973
AXA SA sponsored ADR	24,300		500,337
BNP Paribas SA	4,478		319,883
Compagnie de St. Gobain	1,959		93,579
Danone	4,480		256,171
GDF Suez	1,214		45,829
Laurent-Perrier Group	209		17,933
Pernod-Ricard SA	1,506		121,135
PPR SA	500		60,971
Remy Cointreau SA	2,619		131,263
Saft Groupe SA	657		28,172
Sanofi-Aventis	756		55,900
Sanofi-Aventis sponsored ADR	5,600		206,136
Common Stocks - continued
	Shares		Value
France - continued
Schneider Electric SA	684		$ 70,562
Societe Generale Series A	4,410		255,141
Total SA:
Series B	500		28,896
sponsored ADR	6,300		362,817
Unibail-Rodamco	1,165		252,426
Veolia Environnement sponsored ADR (b)	2,400		78,672
TOTAL FRANCE			2,996,558
Germany - 5.2%
Aixtron AG	5,500		165,450
Allianz AG sponsored ADR	19,200		210,048
alstria office REIT-AG	538		6,040
BASF AG	1,973		111,980
Bayer AG	2,254		153,530
Bayerische Motoren Werke AG (BMW)	2,486		105,963
Bilfinger Berger AG	250		18,035
centrotherm photovoltaics AG (a)	100		5,576
Colonia Real Estate AG (a)	8,879		52,710
Daimler AG	6,400		293,184
Deutsche Boerse AG	1,300		85,103
E.ON AG	21,549		790,935
Linde AG	1,896		207,258
Metro AG	1,400		76,365
Munich Re Group (Reg.)	2,402		358,803
Siemens AG sponsored ADR	1,600		142,576
Software AG (Bearer)	183		20,803
TOTAL GERMANY			2,804,359
Greece - 0.2%
Hellenic Telecommunications Organization SA	6,531		89,475
Terna Energy SA	2,249		18,151
TOTAL GREECE			107,626
Hong Kong - 2.9%
Champion (REIT)	19,662		8,307
China Agri-Industries Holding Ltd.	26,000		35,698
China Mobile (Hong Kong) Ltd.	10,000		93,947
China Mobile (Hong Kong) Ltd. sponsored ADR	600		28,170
China Overseas Land & Investment Ltd.	55,564		99,621
China Resources Power Holdings Co. Ltd.	62,800		121,977
CNOOC Ltd.	57,000		79,921
CNOOC Ltd. sponsored ADR	660		92,288
Common Stocks - continued
	Shares		Value
Hong Kong - continued
CNPC (Hong Kong) Ltd.	30,000		$ 37,442
Cosco Pacific Ltd.	24,000		35,116
Hong Kong Exchanges and Clearing Ltd.	15,100		257,309
Hutchison Whampoa Ltd.	13,000		88,995
Lenovo Group Ltd.	64,000		44,266
Shanghai Industrial Holdings Ltd.	7,000		32,683
Sino-Ocean Land Holdings Ltd.	29,000		23,719
Swire Pacific Ltd. (A Shares)	38,000		415,291
Techtronic Industries Co. Ltd.	81,500		67,602
TOTAL HONG KONG			1,562,352
Hungary - 0.1%
OTP Bank Ltd. (a)	1,400		41,844
India - 1.3%
Bank of Baroda	3,160		39,427
Bharat Heavy Electricals Ltd.	875		45,627
Dabur India Ltd.	8,738		30,462
Housing Development and Infrastructure Ltd. (a)	3,701		26,527
Housing Development Finance Corp. Ltd.	909		46,979
Indiabulls Real Estate Ltd. (a)	5,474		20,786
Infosys Technologies Ltd.	530		28,445
Infosys Technologies Ltd. sponsored ADR	1,200		62,292
Jain Irrigation Systems Ltd.	1,498		23,520
JSW Steel Ltd.	1,997		42,668
Jyothy Laboratories Ltd.	965		3,271
Pantaloon Retail India Ltd.	2,009		19,128
Pantaloon Retail India Ltd. Class B	341		1,786
Power Finance Corp. Ltd.	4,482		23,530
Reliance Industries Ltd.	1,873		42,483
Reliance Industries Ltd. GDR (Reg. S) (c)	1,648		74,984
Tata Consultancy Services Ltd.	2,850		45,489
Tata Power Co. Ltd.	1,838		51,998
Tata Steel Ltd.	3,220		39,729
Union Bank of India	2,886		15,949
Unitech Ltd.	17,680		28,480
TOTAL INDIA			713,560
Indonesia - 0.5%
PT Bank Central Asia Tbk	68,500		36,631
PT Bank Rakyat Indonesia Tbk	119,000		97,364
PT Indocement Tunggal Prakarsa Tbk	25,500		36,818
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT International Nickel Indonesia Tbk	60,000		$ 22,941
PT Telkomunikasi Indonesia Tbk Series B	65,500		65,500
TOTAL INDONESIA			259,254
Ireland - 0.7%
CRH PLC sponsored ADR (b)	13,500		331,965
Dragon Oil PLC (a)	3,700		23,871
TOTAL IRELAND			355,836
Israel - 0.1%
Partner Communications Co. Ltd. ADR	242		5,019
Teva Pharmaceutical Industries Ltd. sponsored ADR	1,300		73,736
TOTAL ISRAEL			78,755
Italy - 1.7%
Azimut Holdings SpA	11,736		144,243
Fiat SpA (a)	11,000		137,847
Interpump Group SpA (a)	2,025		10,450
Intesa Sanpaolo SpA	106,500		405,392
UniCredit SpA	72,701		200,474
TOTAL ITALY			898,406
Japan - 12.7%
Aioi Insurance Co. Ltd.	1,000		4,763
Aozora Bank Ltd. (a)	5,000		6,370
Asahi Co. Ltd.	400		6,288
Autobacs Seven Co. Ltd.	3,400		103,013
Credit Saison Co. Ltd.	5,300		65,993
Daikoku Denki Co. Ltd.	900		16,849
Daikokutenbussan Co. Ltd.	2,200		66,534
Denso Corp.	12,000		354,270
East Japan Railway Co.	5,700		383,283
Fanuc Ltd.	2,000		191,869
FCC Co. Ltd.	700		13,850
Fukuoka (REIT) Investment Fund	2		11,100
GCA Savvian Group Corp.	10		11,632
Glory Ltd.	400		8,791
Goldcrest Co. Ltd.	260		7,319
Gunma Bank Ltd.	2,000		10,325
Honda Motor Co. Ltd.	3,000		101,662
Japan Retail Fund Investment Corp.	17		79,096
Japan Steel Works Ltd.	9,000		110,867
JSR Corp.	3,600		71,107
Common Stocks - continued
	Shares		Value
Japan - continued
Kamigumi Co. Ltd.	2,000		$ 15,066
KDDI Corp.	11		58,065
Keyence Corp.	610		140,759
Kirin Holdings Co. Ltd.	5,000		76,382
Kobayashi Pharmaceutical Co. Ltd.	3,200		127,794
Konica Minolta Holdings, Inc.	7,000		71,652
Kyoto Kimono Yuzen Co. Ltd.	700		6,801
Meiko Network Japan Co. Ltd.	900		5,384
Miraca Holdings, Inc.	4,700		141,099
Miraial Co. Ltd.	300		8,059
Mitsubishi Estate Co. Ltd.	3,000		48,787
Mitsubishi UFJ Financial Group, Inc.	79,500		409,090
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	11,900		61,047
Mitsui & Co. Ltd.	32,700		482,512
Mitsui Sumitomo Insurance Group Holdings, Inc.	3,400		85,311
Nabtesco Corp.	1,000		11,809
Nachi-Fujikoshi Corp.	5,000		14,124
Nagaileben Co. Ltd.	300		6,497
Nihon Parkerizing Co. Ltd.	1,000		12,695
Nippon Electric Glass Co. Ltd.	4,000		56,541
Nippon Seiki Co. Ltd.	2,000		22,089
Nippon Thompson Co. Ltd.	23,000		130,963
Nitto Kohki Co. Ltd.	300		6,338
Obic Co. Ltd.	530		99,107
ORIX Corp.	1,800		135,593
Osaka Securities Exchange Co. Ltd.	29		161,272
OSG Corp.	1,000		10,967
Pal Co. Ltd.	150		3,046
Promise Co. Ltd. (a)(b)	9,600		88,907
SAZABY, Inc.	300		3,838
Seven & i Holdings Co., Ltd.	3,900		85,414
Shin-Etsu Chemical Co., Ltd.	4,300		225,313
Shiseido Co. Ltd.	5,900		121,438
SHO-BOND Holdings Co. Ltd.	3,400		57,439
Shoei Co. Ltd.	300		3,264
Sumitomo Corp.	17,600		198,675
Sumitomo Metal Industries Ltd.	39,000		107,577
Sumitomo Mitsui Financial Group, Inc.	6,600		214,590
The Daishi Bank Ltd., Niigata	2,000		6,713
The Nippon Synthetic Chemical Industry Co. Ltd.	2,000		14,246
THK Co. Ltd.	900		17,856
Toho Holdings Co. Ltd.	1,000		13,249
Common Stocks - continued
	Shares		Value
Japan - continued
Tokio Marine Holdings, Inc.	2,400		$ 64,872
Tokuyama Corp.	5,000		26,532
Tokyo Electric Power Co.	5,900		159,150
Tokyo Gas Co., Ltd.	43,000		174,344
Toyota Motor Corp.	16,300		626,921
Tsumura & Co.	400		12,673
Tsutsumi Jewelry Co. Ltd.	400		7,630
USS Co. Ltd.	3,340		202,761
Xebio Co. Ltd.	2,400		45,091
Yamada Denki Co. Ltd.	2,900		186,651
Yamato Kogyo Co. Ltd.	4,600		145,537
TOTAL JAPAN			6,844,511
Kazakhstan - 0.1%
JSC Halyk Bank of Kazakhstan unit (a)	3,500		32,670
KazMunaiGas Exploration & Production JSC (Reg. S) GDR	900		22,700
TOTAL KAZAKHSTAN			55,370
Korea (South) - 1.9%
Doosan Heavy Industries & Construction Co. Ltd.	746		53,106
GS Engineering & Construction Corp.	539		41,347
Hana Financial Group, Inc.	1,240		35,630
Hynix Semiconductor, Inc. (a)	2,630		51,629
Hyundai Engineering & Construction Co. Ltd.	796		44,234
Hyundai Mobis	415		52,999
KB Financial Group, Inc. (a)	1,800		78,592
KT&G Corp.	764		44,631
LG Innotek Co. Ltd.	243		18,767
NHN Corp. (a)	1,013		151,220
Samsung Electronics Co. Ltd.	378		255,718
Shinhan Financial Group Co. Ltd. (a)	1,880		65,806
Shinhan Financial Group Co. Ltd. sponsored ADR	1,400		96,992
Tong Yang Life Insurance Co. Ltd.	620		7,624
TOTAL KOREA (SOUTH)			998,295
Luxembourg - 0.8%
ArcelorMittal SA:
(Netherlands)	1,852		71,694
(NY Shares) Class A	7,900		305,572
Evraz Group SA GDR (a)	1,000		32,968
GlobeOp Financial Services SA	2,300		7,849
TOTAL LUXEMBOURG			418,083
Common Stocks - continued
	Shares		Value
Malaysia - 0.2%
Axiata Group Bhd	38,300		$ 36,676
Bumiputra-Commerce Holdings Bhd	11,000		40,782
IJM Corp. Bhd	24,200		32,600
TOTAL MALAYSIA			110,058
Mexico - 1.4%
America Movil SAB de CV Series L sponsored ADR	4,200		183,330
Cemex SA de CV sponsored ADR	12,329		113,304
Corporacion Geo SA de CV Series B (a)	7,900		20,973
Desarrolladora Homex SAB de CV sponsored ADR (a)	2,920		89,498
Empresas ICA Sociedad Controladora SA de CV sponsored ADR (a)	4,800		46,560
Fomento Economico Mexicano SAB de CV sponsored ADR	1,200		50,592
Grupo Financiero Banorte SAB de CV Series O	6,200		20,390
Grupo Televisa SA de CV (CPO) sponsored ADR	2,600		50,804
Telmex Internacional SAB de CV Series L ADR (b)	2,300		40,618
Wal-Mart de Mexico SA de CV Series V	35,100		155,640
TOTAL MEXICO			771,709
Netherlands - 2.2%
Aalberts Industries NV	1,200		17,453
Akzo Nobel NV	688		40,953
ASM International NV (NASDAQ) (a)	4,000		91,760
ASML Holding NV (NY Shares)	3,500		109,375
Gemalto NV (a)	2,849		113,098
Heijmans NV unit (a)	610		10,885
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	14,810		138,685
sponsored ADR (a)	4,600		43,240
James Hardie Industries NV sponsored ADR (a)	3,325		110,357
Koninklijke Ahold NV	6,535		82,115
Koninklijke KPN NV	15,955		264,182
QIAGEN NV (a)	6,300		137,088
TOTAL NETHERLANDS			1,159,191
Nigeria - 0.1%
Guaranty Trust Bank PLC GDR (Reg. S)	4,600		34,715
Norway - 0.5%
Aker Solutions ASA	5,400		72,062
DnB NOR ASA (a)	11,300		127,603
Common Stocks - continued
	Shares		Value
Norway - continued
Orkla ASA (A Shares)	7,000		$ 63,124
Sevan Marine ASA (a)	7,000		10,076
TOTAL NORWAY			272,865
Papua New Guinea - 0.2%
Lihir Gold Ltd. sponsored ADR	3,550		86,088
Oil Search Ltd.	5,018		23,340
TOTAL PAPUA NEW GUINEA			109,428
Peru - 0.2%
Compania de Minas Buenaventura SA sponsored ADR	3,300		103,884
Philippines - 0.2%
Jollibee Food Corp.	10,800		12,194
Philippine Long Distance Telephone Co.	110		6,316
Philippine Long Distance Telephone Co. sponsored ADR	1,900		106,343
TOTAL PHILIPPINES			124,853
Portugal - 0.2%
Energias de Portugal SA	26,265		104,105
Russia - 1.2%
Magnit OJSC GDR (Reg. S)	2,100		31,592
Mechel Steel Group OAO sponsored ADR	2,300		45,517
Novorossiysk Commercial Sea Port JSC GDR (Reg. S)	2,400		27,525
OAO Gazprom sponsored ADR	9,380		226,996
OAO NOVATEK GDR	800		56,669
OAO Tatneft sponsored ADR	1,400		43,074
OJSC MMC Norilsk Nickel sponsored ADR (a)	3,800		58,140
OJSC Oil Company Rosneft GDR (Reg. S)	7,300		56,144
Polymetal JSC GDR (Reg. S) (a)	3,100		28,782
Sberbank (Savings Bank of the Russian Federation) GDR	290		87,265
TOTAL RUSSIA			661,704
Singapore - 1.4%
Allgreen Properties Ltd.	17,000		14,144
CapitaLand Ltd.	20,000		54,898
City Developments Ltd.	8,000		60,985
DBS Group Holdings Ltd.	17,000		172,629
Keppel Land Ltd.	4,000		9,330
Singapore Exchange Ltd.	38,000		215,908
Straits Asia Resources Ltd.	15,000		23,040
Common Stocks - continued
	Shares		Value
Singapore - continued
United Overseas Bank Ltd.	13,000		$ 167,879
Wing Tai Holdings Ltd.	43,000		60,238
TOTAL SINGAPORE			779,051
South Africa - 2.6%
African Bank Investments Ltd.	8,000		31,160
African Rainbow Minerals Ltd.	8,863		195,338
Aspen Pharmacare Holdings Ltd. (a)	4,900		43,326
Aveng Ltd.	6,800		31,669
Blue Financial Services Ltd. (a)	17,405		891
Blue Label Telecoms Ltd. (a)	32,700		21,235
Clicks Group Ltd.	35,507		123,440
Impala Platinum Holdings Ltd.	6,700		173,596
JSE Ltd.	12,800		94,876
Mr. Price Group Ltd.	28,500		131,571
MTN Group Ltd.	22,503		323,112
Mvelaphanda Resources Ltd. (a)	5,322		35,433
Naspers Ltd. Class N	1,500		53,131
Shoprite Holdings Ltd.	4,500		41,236
Standard Bank Group Ltd.	5,500		78,539
Truworths International Ltd.	3,800		21,137
TOTAL SOUTH AFRICA			1,399,690
Spain - 2.6%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR	4,359		66,213
Banco Santander SA	4,932		69,938
Banco Santander SA sponsored ADR	11,600		163,328
Grifols SA	246		3,750
Iberdrola SA	7,500		63,852
Inditex SA	2,538		159,752
Prosegur Compania de Seguridad SA (Reg.)	2,691		121,862
Telefonica SA sponsored ADR	10,240		733,184
TOTAL SPAIN			1,381,879
Sweden - 0.8%
H&M Hennes & Mauritz AB (B Shares)	4,327		254,625
Intrum Justitia AB	1,400		17,043
Swedish Match Co.	3,700		77,475
Telefonaktiebolaget LM Ericsson (B Shares)	9,103		88,213
TOTAL SWEDEN			437,356
Switzerland - 8.0%
ABB Ltd. sponsored ADR	13,200		237,996
Common Stocks - continued
	Shares		Value
Switzerland - continued
Actelion Ltd. (Reg.) (a)	1,861		$ 98,455
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	3,351		114,417
Credit Suisse Group sponsored ADR	7,600		328,168
Nestle SA (Reg.)	18,399		872,103
Novartis AG sponsored ADR (b)	3,800		203,414
Roche Holding AG (participation certificate)	7,753		1,300,661
Sonova Holding AG Class B	1,743		215,720
The Swatch Group AG (Bearer)	470		122,857
Transocean Ltd. (a)	2,820		238,967
UBS AG:
(For. Reg.) (a)	3,373		43,989
(NY Shares) (a)	11,100		144,411
Zurich Financial Services AG (Reg.)	1,821		387,149
TOTAL SWITZERLAND			4,308,307
Taiwan - 1.5%
Acer, Inc.	18,050		50,652
Cathay Financial Holding Co. Ltd. (a)	25,000		42,390
China Steel Corp.	27,000		27,452
Delta Electronics, Inc.	11,000		33,380
Epistar Corp.	9,000		28,578
EVA Airways Corp. (a)	74,000		29,169
Hon Hai Precision Industry Co. Ltd. (Foxconn)	41,965		176,577
MediaTek, Inc.	4,006		65,169
Prime View International Co. Ltd. (a)	7,000		12,833
Prime View International Co. Ltd. sponsored GDR (a)(c)	700		12,840
Synnex Technology International Corp.	13,000		26,761
Taiwan Mobile Co. Ltd.	19,000		36,793
Taiwan Semiconductor Manufacturing Co. Ltd.	59,169		113,840
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	7,710		78,334
Wintek Corp. (a)	37,000		28,822
Yuanta Financial Holding Co. Ltd.	48,000		30,634
TOTAL TAIWAN			794,224
Thailand - 0.3%
Advanced Info Service PCL (For. Reg.)	11,800		29,509
Siam Commercial Bank PCL (For. Reg.)	44,800		107,647
TOTAL THAILAND			137,156
Turkey - 1.3%
Albaraka Turk Katilim Bankasi AS	7,000		11,410
Anadolu Efes Biracilik ve Malt Sanyii AS	10,600		110,465
Asya Katilim Bankasi AS (a)	64,200		169,833
Common Stocks - continued
	Shares		Value
Turkey - continued
Coca-Cola Icecek AS	14,500		$ 121,080
Tupras-Turkiye Petrol Rafinerileri AS	200		4,175
Turkiye Garanti Bankasi AS	67,700		287,181
TOTAL TURKEY			704,144
United Kingdom - 16.0%
Aberdeen Asset Management PLC	27,018		53,169
Aegis Group PLC	38,416		73,082
AMEC PLC	489		5,893
Anglo American PLC (United Kingdom) (a)	5,831		213,939
Babcock International Group PLC	21,400		191,089
BAE Systems PLC	41,700		233,863
Barclays PLC	24,317		103,928
Begbies Traynor Group PLC	7,700		11,243
Bellway PLC	6,528		76,908
BG Group PLC	23,099		424,634
BHP Billiton PLC ADR	12,200		714,676
BlueBay Asset Management	987		5,184
Bovis Homes Group PLC (a)	8,148		51,500
BP PLC sponsored ADR	5,600		314,272
Britvic PLC	2,100		14,081
Carphone Warehouse Group PLC	27,500		83,446
Centrica PLC	27,575		118,377
Chloride Group PLC	4,357		12,673
Cobham PLC	20,700		76,590
Derwent London PLC	700		14,570
easyJet PLC (a)	19,000		117,997
GlaxoSmithKline PLC sponsored ADR	3,900		152,139
Great Portland Estates PLC	12,472		55,710
H&T Group PLC	2,500		10,289
Hikma Pharmaceuticals PLC	4,896		42,746
HSBC Holdings PLC:
(United Kingdom) (Reg.)	31,379		335,919
sponsored ADR	4,600		246,146
Imperial Tobacco Group PLC	700		22,573
InterContinental Hotel Group PLC ADR	9,600		136,992
International Power PLC	12,589		64,270
Johnson Matthey PLC	4,992		116,051
Man Group PLC	27,936		104,697
Meggitt PLC	4,400		18,123
Misys PLC (a)	24,000		81,966
Mothercare PLC	1,599		16,354
Common Stocks - continued
	Shares		Value
United Kingdom - continued
National Grid PLC	7,000		$ 70,304
Persimmon PLC (a)	1,437		9,865
Prudential PLC	29,094		266,455
Quintain Estates & Development PLC (a)	9,776		9,129
Reckitt Benckiser Group PLC	4,938		255,977
Rio Tinto PLC:
(Reg.)	7,396		360,656
sponsored ADR	1,990		386,100
Rolls-Royce Group PLC	13,745		104,727
Rotork PLC	500		10,072
Royal Dutch Shell PLC Class A sponsored ADR	12,600		697,914
Serco Group PLC	27,020		214,772
Shaftesbury PLC	17,833		107,975
Spectris PLC	1,332		16,181
Spirax-Sarco Engineering PLC	1,604		32,016
SSL International PLC	3,269		40,507
St. Modwen Properties PLC (a)	2,000		6,000
Standard Chartered PLC (United Kingdom)	14,093		324,604
Ted Baker PLC	1,875		14,769
Tesco PLC	51,483		348,417
Tullow Oil PLC	1,242		22,749
Ultra Electronics Holdings PLC	700		14,159
Unite Group PLC (a)	23,902		109,491
Victrex PLC	4,018		52,060
Vodafone Group PLC	37,300		79,686
Vodafone Group PLC sponsored ADR	25,300		542,938
Wolseley PLC (a)	5,563		122,387
Xstrata PLC (a)	2,428		39,396
TOTAL UNITED KINGDOM			8,574,395
United States of America - 3.9%
Advanced Energy Industries, Inc. (a)	8,781		115,207
Airgas, Inc.	310		13,101
Allergan, Inc.	1,700		97,750
Autoliv, Inc.	3,800		162,678
Berkshire Hathaway, Inc. Class B (a)	1,450		110,824
Central European Distribution Corp. (a)	1,200		38,460
Cymer, Inc. (a)	1,700		53,329
Dril-Quip, Inc. (a)	200		10,498
Evercore Partners, Inc. Class A	300		8,961
Freeport-McMoRan Copper & Gold, Inc.	500		33,345
ION Geophysical Corp. (a)	11,181		53,110
Common Stocks - continued
	Shares		Value
United States of America - continued
Juniper Networks, Inc. (a)	9,880		$ 245,320
Kansas City Southern (a)	590		17,523
Lam Research Corp. (a)	197		6,503
Martin Marietta Materials, Inc.	110		8,710
Mead Johnson Nutrition Co. Class A	1,900		85,937
Mohawk Industries, Inc. (a)	2,540		105,181
Monsanto Co.	1,000		75,880
Philip Morris International, Inc.	2,500		113,775
PriceSmart, Inc.	2,300		46,023
ResMed, Inc. (a)	2,300		117,622
Union Pacific Corp.	1,900		114,950
Varian Semiconductor Equipment Associates, Inc. (a)	200		5,866
Visa, Inc. Class A	5,600		459,368
TOTAL UNITED STATES OF AMERICA			2,099,921
TOTAL COMMON STOCKS (Cost $55,173,060)		52,470,026
Nonconvertible Preferred Stocks - 0.4%
Italy - 0.4%
Fiat SpA (Risparmio Shares)	7,200		57,952
Telecom Italia SpA (Risparmio Shares)	138,500		160,873
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $236,221)		218,825
Money Market Funds - 1.2%
Fidelity Securities Lending Cash Central Fund, 0.18% (d)(e) (Cost $652,605)	652,605		652,605
Cash Equivalents - 1.8%
	Maturity Amount		Value
Investments in repurchase agreements in a joint trading account at 0.1%, dated 1/29/10 due 2/1/10 (Collateralized by U.S. Treasury Obligations) # (Cost $969,000)	$ 969,008		$ 969,000
TOTAL INVESTMENT PORTFOLIO - 101.2% (Cost $57,030,886)			54,310,456
NET OTHER ASSETS - (1.2)%			(610,815)
NET ASSETS - 100%		$ 53,699,641

Legend

(a) Non-income producing

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

(c) 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 $87,824 or 0.2% of net assets.

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$969,000 due 2/01/10 at 0.10%
BNP Paribas Securities Corp.	$ 143,628
Banc of America Securities LLC	105,239
Bank of America, NA	67,630
Barclays Capital, Inc.	141,681
Citigroup Global Markets, Inc.	105,239
Credit Suisse Securities (USA) LLC	195,106
ING Financial Markets LLC	70,159
J.P. Morgan Securities, Inc.	70,159
Mizuho Securities USA, Inc.	70,159
	$ 969,000

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 Securities Lending Cash Central Fund	$ 1,091

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 8,574,395	$ 3,191,177	$ 5,383,218	$ -
Japan	6,844,511	5,706,838	1,137,673	-
Switzerland	4,308,307	1,152,956	3,155,351	-
France	2,996,558	1,147,962	1,848,596	-
Germany	2,804,359	645,808	2,158,551	-
Brazil	2,722,973	2,722,973	-	-
United States of America	2,099,921	2,099,921	-	-
Australia	1,617,396	1,617,396	-	-
Canada	1,582,556	1,582,556	-	-
Other	19,137,875	12,719,463	6,418,412	-
Money Market Funds	652,605	652,605	-	-
Cash Equivalents	969,000	-	969,000	-
Total Investments in Securities:	$ 54,310,456	$ 33,239,655	$ 21,070,801	$ -

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

Investments in Securities:
Beginning Balance	$ 369
Total Realized Gain (Loss)	(25,822)
Total Unrealized Gain (Loss)	25,854
Cost of Purchases	-
Proceeds of Sales	(401)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $58,003,389. Net unrealized depreciation aggregated $3,692,933, of which $4,194,633 related to appreciated investment securities and $7,887,566 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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

Quarterly Holdings Report

for

Fidelity® Advisor
Total International Equity Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

Class A, Class T, Class B, Class C
and Institutional Class are classes of
Fidelity® Total International Equity Fund

1.863098.102

ATIE-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.8%
	Shares		Value
Argentina - 0.1%
Banco Macro SA sponsored ADR	1,100		$ 31,361
Australia - 3.0%
AMP Ltd.	6,966		38,560
CSL Ltd.	4,491		123,821
Leighton Holdings Ltd.	6,104		206,183
Macquarie Group Ltd.	5,332		236,495
Macquarie Infrastructure Group unit	66,523		71,470
MAp Group unit	70,063		172,230
OZ Minerals Ltd. (a)	90,871		85,576
QBE Insurance Group Ltd.	3,683		74,643
Wesfarmers Ltd.	3,313		80,591
Westfield Group unit	15,995		178,775
Woolworths Ltd.	12,632		288,852
Worleyparsons Ltd.	2,886		60,200
TOTAL AUSTRALIA			1,617,396
Austria - 0.2%
Andritz AG	1,790		99,971
Bailiwick of Jersey - 0.7%
Informa PLC	44,088		231,027
Randgold Resources Ltd. sponsored ADR	400		27,572
United Business Media Ltd.	8,700		59,064
WPP PLC	8,096		74,703
TOTAL BAILIWICK OF JERSEY			392,366
Belgium - 1.4%
Anheuser-Busch InBev SA NV	13,025		649,950
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,080		42
Gimv NV	200		10,242
Umicore SA	3,716		114,524
TOTAL BELGIUM			774,758
Bermuda - 1.3%
Aquarius Platinum Ltd. (Australia) (a)	7,447		43,988
Credicorp Ltd. (NY Shares)	700		52,241
Lazard Ltd. Class A	1,200		46,248
Northern Offshore Ltd. (a)	3,000		5,189
Ports Design Ltd.	68,500		184,838
Scorpion Offshore Ltd. (a)	1,500		6,522
Common Stocks - continued
	Shares		Value
Bermuda - continued
Seadrill Ltd.	14,900		$ 338,093
Trinity Ltd.	14,000		6,582
TOTAL BERMUDA			683,701
Brazil - 5.1%
Anhanguera Educacional Participacoes SA unit (a)	1,226		16,910
Banco ABC Brasil SA	18,800		119,682
Banco do Brasil SA	6,500		96,483
Banco Santander (Brasil) SA ADR	8,900		107,156
BM&F BOVESPA SA	36,100		242,646
BR Malls Participacoes SA (a)	5,600		60,872
Braskem SA Class A sponsored ADR (a)(b)	12,200		169,702
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	3,400		62,751
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	2,500		41,675
Companhia Siderurgica Nacional SA (CSN) sponsored ADR (b)	2,000		58,240
Cosan SA Industria e Comercio (a)	2,650		30,225
Fibria Celulose SA sponsored ADR (a)	7,050		128,874
Gerdau SA	3,500		35,891
Gerdau SA (PN)	700		9,403
Iguatemi Empresa de Shopping Centers SA	4,000		60,435
Itau Unibanco Banco Multiplo SA ADR	13,847		265,309
Localiza Rent A Car SA	2,600		27,241
MRV Engenharia e Participacoes SA	7,800		49,862
Multiplan Empreendimentos Imobiliarios SA	2,900		46,154
Natura Cosmeticos SA	1,920		34,754
Net Servicos de Comunicacao SA sponsored ADR	3,400		40,222
OGX Petroleo e Gas Participacoes SA	6,500		58,103
PDG Realty S.A. Empreendimentos e Participacoes	3,200		25,244
Petroleo Brasileiro SA - Petrobras:
(PN) sponsored ADR (non-vtg.)	3,400		122,672
sponsored ADR	8,200		332,674
Tele Norte Leste Participacoes SA sponsored ADR (non-vtg.)	2,900		51,678
Tivit Terc de Tec E Servico SA	2,090		17,186
Vale SA:
(PN-A) sponsored ADR	11,800		266,444
sponsored ADR	4,300		110,897
Vivo Participacoes SA sponsored ADR	1,200		33,588
TOTAL BRAZIL			2,722,973
Canada - 2.9%
Agnico-Eagle Mines Ltd. (Canada)	3,760		190,057
Common Stocks - continued
	Shares		Value
Canada - continued
Eldorado Gold Corp. (a)	3,470		$ 41,213
Eldorado Gold Corp. unit (a)	236		2,832
Fairfax Financial Holdings Ltd. (sub. vtg.)	270		91,610
First Quantum Minerals Ltd.	400		29,010
Goldcorp, Inc.	1,300		44,059
Niko Resources Ltd.	2,630		242,856
Open Text Corp. (a)	5,400		212,758
Petrobank Energy & Resources Ltd. (a)	5,200		256,912
Power Corp. of Canada (sub. vtg.)	2,900		76,100
Quadra Mining Ltd. (a)	500		6,691
Sherritt International Corp.	2,800		16,078
Suncor Energy, Inc.	3,300		104,188
Toronto-Dominion Bank	4,200		247,452
Uranium One, Inc. (a)	6,700		20,740
TOTAL CANADA			1,582,556
Cayman Islands - 0.4%
China Shanshui Cement Group Ltd.	29,000		16,921
Eurasia Drilling Co. Ltd. GDR (Reg. S)	1,500		20,555
Geely Automobile Holdings Ltd.	50,000		22,218
Hengan International Group Co. Ltd.	6,300		42,195
Hidili Industry International Development Ltd. (a)	25,000		26,436
Integra Group Holdings unit (a)	5,500		18,842
Wynn Macau Ltd.	41,400		52,577
Xinao Gas Holdings Ltd.	13,000		30,910
TOTAL CAYMAN ISLANDS			230,654
China - 1.7%
Ausnutria Dairy Hunan Co. Ltd. Class H	5,000		3,606
Baidu.com, Inc. sponsored ADR (a)	50		20,586
China Construction Bank Corp. (H Shares)	168,000		129,398
China Merchants Bank Co. Ltd. (H Shares)	58,800		136,777
China Nepstar Chain Drugstore Ltd. ADR	1,750		10,570
China Yurun Food Group Ltd.	14,000		39,310
Golden Eagle Retail Group Ltd. (H Shares)	12,000		21,669
Industrial & Commercial Bank of China Ltd. (H Shares)	278,000		204,097
Jiangsu Expressway Co. Ltd. (H Shares)	34,000		30,436
Minth Group Ltd.	16,000		20,258
Nine Dragons Paper (Holdings) Ltd.	43,000		60,923
Parkson Retail Group Ltd.	13,500		23,161
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	9,000		70,480
Tencent Holdings Ltd.	4,000		74,807
Common Stocks - continued
	Shares		Value
China - continued
Weichai Power Co. Ltd. (H Shares)	4,000		$ 28,980
ZTE Corp. (H Shares)	6,040		35,475
TOTAL CHINA			910,533
Czech Republic - 0.1%
Ceske Energeticke Zavody AS	800		38,934
Denmark - 1.2%
Novo Nordisk AS:
Series B	1,267		85,719
Series B sponsored ADR	4,100		276,463
Vestas Wind Systems AS (a)	2,795		147,002
William Demant Holding AS (a)	1,440		112,378
TOTAL DENMARK			621,562
Egypt - 0.2%
Commercial International Bank Ltd.	4,700		51,515
Orascom Telecom Holding SAE	5,300		5,741
Orascom Telecom Holding SAE rights 3/1/10 (a)	25,970		23,380
TOTAL EGYPT			80,636
Finland - 0.9%
Metso Corp.	4,100		137,597
Nokian Tyres PLC	8,302		200,711
Outotec OYJ	4,200		140,873
TOTAL FINLAND			479,181
France - 5.6%
Accor SA	1,151		58,066
Alstom SA	295		19,696
Audika SA	900		32,973
AXA SA sponsored ADR	24,300		500,337
BNP Paribas SA	4,478		319,883
Compagnie de St. Gobain	1,959		93,579
Danone	4,480		256,171
GDF Suez	1,214		45,829
Laurent-Perrier Group	209		17,933
Pernod-Ricard SA	1,506		121,135
PPR SA	500		60,971
Remy Cointreau SA	2,619		131,263
Saft Groupe SA	657		28,172
Sanofi-Aventis	756		55,900
Sanofi-Aventis sponsored ADR	5,600		206,136
Common Stocks - continued
	Shares		Value
France - continued
Schneider Electric SA	684		$ 70,562
Societe Generale Series A	4,410		255,141
Total SA:
Series B	500		28,896
sponsored ADR	6,300		362,817
Unibail-Rodamco	1,165		252,426
Veolia Environnement sponsored ADR (b)	2,400		78,672
TOTAL FRANCE			2,996,558
Germany - 5.2%
Aixtron AG	5,500		165,450
Allianz AG sponsored ADR	19,200		210,048
alstria office REIT-AG	538		6,040
BASF AG	1,973		111,980
Bayer AG	2,254		153,530
Bayerische Motoren Werke AG (BMW)	2,486		105,963
Bilfinger Berger AG	250		18,035
centrotherm photovoltaics AG (a)	100		5,576
Colonia Real Estate AG (a)	8,879		52,710
Daimler AG	6,400		293,184
Deutsche Boerse AG	1,300		85,103
E.ON AG	21,549		790,935
Linde AG	1,896		207,258
Metro AG	1,400		76,365
Munich Re Group (Reg.)	2,402		358,803
Siemens AG sponsored ADR	1,600		142,576
Software AG (Bearer)	183		20,803
TOTAL GERMANY			2,804,359
Greece - 0.2%
Hellenic Telecommunications Organization SA	6,531		89,475
Terna Energy SA	2,249		18,151
TOTAL GREECE			107,626
Hong Kong - 2.9%
Champion (REIT)	19,662		8,307
China Agri-Industries Holding Ltd.	26,000		35,698
China Mobile (Hong Kong) Ltd.	10,000		93,947
China Mobile (Hong Kong) Ltd. sponsored ADR	600		28,170
China Overseas Land & Investment Ltd.	55,564		99,621
China Resources Power Holdings Co. Ltd.	62,800		121,977
CNOOC Ltd.	57,000		79,921
CNOOC Ltd. sponsored ADR	660		92,288
Common Stocks - continued
	Shares		Value
Hong Kong - continued
CNPC (Hong Kong) Ltd.	30,000		$ 37,442
Cosco Pacific Ltd.	24,000		35,116
Hong Kong Exchanges and Clearing Ltd.	15,100		257,309
Hutchison Whampoa Ltd.	13,000		88,995
Lenovo Group Ltd.	64,000		44,266
Shanghai Industrial Holdings Ltd.	7,000		32,683
Sino-Ocean Land Holdings Ltd.	29,000		23,719
Swire Pacific Ltd. (A Shares)	38,000		415,291
Techtronic Industries Co. Ltd.	81,500		67,602
TOTAL HONG KONG			1,562,352
Hungary - 0.1%
OTP Bank Ltd. (a)	1,400		41,844
India - 1.3%
Bank of Baroda	3,160		39,427
Bharat Heavy Electricals Ltd.	875		45,627
Dabur India Ltd.	8,738		30,462
Housing Development and Infrastructure Ltd. (a)	3,701		26,527
Housing Development Finance Corp. Ltd.	909		46,979
Indiabulls Real Estate Ltd. (a)	5,474		20,786
Infosys Technologies Ltd.	530		28,445
Infosys Technologies Ltd. sponsored ADR	1,200		62,292
Jain Irrigation Systems Ltd.	1,498		23,520
JSW Steel Ltd.	1,997		42,668
Jyothy Laboratories Ltd.	965		3,271
Pantaloon Retail India Ltd.	2,009		19,128
Pantaloon Retail India Ltd. Class B	341		1,786
Power Finance Corp. Ltd.	4,482		23,530
Reliance Industries Ltd.	1,873		42,483
Reliance Industries Ltd. GDR (Reg. S) (c)	1,648		74,984
Tata Consultancy Services Ltd.	2,850		45,489
Tata Power Co. Ltd.	1,838		51,998
Tata Steel Ltd.	3,220		39,729
Union Bank of India	2,886		15,949
Unitech Ltd.	17,680		28,480
TOTAL INDIA			713,560
Indonesia - 0.5%
PT Bank Central Asia Tbk	68,500		36,631
PT Bank Rakyat Indonesia Tbk	119,000		97,364
PT Indocement Tunggal Prakarsa Tbk	25,500		36,818
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT International Nickel Indonesia Tbk	60,000		$ 22,941
PT Telkomunikasi Indonesia Tbk Series B	65,500		65,500
TOTAL INDONESIA			259,254
Ireland - 0.7%
CRH PLC sponsored ADR (b)	13,500		331,965
Dragon Oil PLC (a)	3,700		23,871
TOTAL IRELAND			355,836
Israel - 0.1%
Partner Communications Co. Ltd. ADR	242		5,019
Teva Pharmaceutical Industries Ltd. sponsored ADR	1,300		73,736
TOTAL ISRAEL			78,755
Italy - 1.7%
Azimut Holdings SpA	11,736		144,243
Fiat SpA (a)	11,000		137,847
Interpump Group SpA (a)	2,025		10,450
Intesa Sanpaolo SpA	106,500		405,392
UniCredit SpA	72,701		200,474
TOTAL ITALY			898,406
Japan - 12.7%
Aioi Insurance Co. Ltd.	1,000		4,763
Aozora Bank Ltd. (a)	5,000		6,370
Asahi Co. Ltd.	400		6,288
Autobacs Seven Co. Ltd.	3,400		103,013
Credit Saison Co. Ltd.	5,300		65,993
Daikoku Denki Co. Ltd.	900		16,849
Daikokutenbussan Co. Ltd.	2,200		66,534
Denso Corp.	12,000		354,270
East Japan Railway Co.	5,700		383,283
Fanuc Ltd.	2,000		191,869
FCC Co. Ltd.	700		13,850
Fukuoka (REIT) Investment Fund	2		11,100
GCA Savvian Group Corp.	10		11,632
Glory Ltd.	400		8,791
Goldcrest Co. Ltd.	260		7,319
Gunma Bank Ltd.	2,000		10,325
Honda Motor Co. Ltd.	3,000		101,662
Japan Retail Fund Investment Corp.	17		79,096
Japan Steel Works Ltd.	9,000		110,867
JSR Corp.	3,600		71,107
Common Stocks - continued
	Shares		Value
Japan - continued
Kamigumi Co. Ltd.	2,000		$ 15,066
KDDI Corp.	11		58,065
Keyence Corp.	610		140,759
Kirin Holdings Co. Ltd.	5,000		76,382
Kobayashi Pharmaceutical Co. Ltd.	3,200		127,794
Konica Minolta Holdings, Inc.	7,000		71,652
Kyoto Kimono Yuzen Co. Ltd.	700		6,801
Meiko Network Japan Co. Ltd.	900		5,384
Miraca Holdings, Inc.	4,700		141,099
Miraial Co. Ltd.	300		8,059
Mitsubishi Estate Co. Ltd.	3,000		48,787
Mitsubishi UFJ Financial Group, Inc.	79,500		409,090
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	11,900		61,047
Mitsui & Co. Ltd.	32,700		482,512
Mitsui Sumitomo Insurance Group Holdings, Inc.	3,400		85,311
Nabtesco Corp.	1,000		11,809
Nachi-Fujikoshi Corp.	5,000		14,124
Nagaileben Co. Ltd.	300		6,497
Nihon Parkerizing Co. Ltd.	1,000		12,695
Nippon Electric Glass Co. Ltd.	4,000		56,541
Nippon Seiki Co. Ltd.	2,000		22,089
Nippon Thompson Co. Ltd.	23,000		130,963
Nitto Kohki Co. Ltd.	300		6,338
Obic Co. Ltd.	530		99,107
ORIX Corp.	1,800		135,593
Osaka Securities Exchange Co. Ltd.	29		161,272
OSG Corp.	1,000		10,967
Pal Co. Ltd.	150		3,046
Promise Co. Ltd. (a)(b)	9,600		88,907
SAZABY, Inc.	300		3,838
Seven & i Holdings Co., Ltd.	3,900		85,414
Shin-Etsu Chemical Co., Ltd.	4,300		225,313
Shiseido Co. Ltd.	5,900		121,438
SHO-BOND Holdings Co. Ltd.	3,400		57,439
Shoei Co. Ltd.	300		3,264
Sumitomo Corp.	17,600		198,675
Sumitomo Metal Industries Ltd.	39,000		107,577
Sumitomo Mitsui Financial Group, Inc.	6,600		214,590
The Daishi Bank Ltd., Niigata	2,000		6,713
The Nippon Synthetic Chemical Industry Co. Ltd.	2,000		14,246
THK Co. Ltd.	900		17,856
Toho Holdings Co. Ltd.	1,000		13,249
Common Stocks - continued
	Shares		Value
Japan - continued
Tokio Marine Holdings, Inc.	2,400		$ 64,872
Tokuyama Corp.	5,000		26,532
Tokyo Electric Power Co.	5,900		159,150
Tokyo Gas Co., Ltd.	43,000		174,344
Toyota Motor Corp.	16,300		626,921
Tsumura & Co.	400		12,673
Tsutsumi Jewelry Co. Ltd.	400		7,630
USS Co. Ltd.	3,340		202,761
Xebio Co. Ltd.	2,400		45,091
Yamada Denki Co. Ltd.	2,900		186,651
Yamato Kogyo Co. Ltd.	4,600		145,537
TOTAL JAPAN			6,844,511
Kazakhstan - 0.1%
JSC Halyk Bank of Kazakhstan unit (a)	3,500		32,670
KazMunaiGas Exploration & Production JSC (Reg. S) GDR	900		22,700
TOTAL KAZAKHSTAN			55,370
Korea (South) - 1.9%
Doosan Heavy Industries & Construction Co. Ltd.	746		53,106
GS Engineering & Construction Corp.	539		41,347
Hana Financial Group, Inc.	1,240		35,630
Hynix Semiconductor, Inc. (a)	2,630		51,629
Hyundai Engineering & Construction Co. Ltd.	796		44,234
Hyundai Mobis	415		52,999
KB Financial Group, Inc. (a)	1,800		78,592
KT&G Corp.	764		44,631
LG Innotek Co. Ltd.	243		18,767
NHN Corp. (a)	1,013		151,220
Samsung Electronics Co. Ltd.	378		255,718
Shinhan Financial Group Co. Ltd. (a)	1,880		65,806
Shinhan Financial Group Co. Ltd. sponsored ADR	1,400		96,992
Tong Yang Life Insurance Co. Ltd.	620		7,624
TOTAL KOREA (SOUTH)			998,295
Luxembourg - 0.8%
ArcelorMittal SA:
(Netherlands)	1,852		71,694
(NY Shares) Class A	7,900		305,572
Evraz Group SA GDR (a)	1,000		32,968
GlobeOp Financial Services SA	2,300		7,849
TOTAL LUXEMBOURG			418,083
Common Stocks - continued
	Shares		Value
Malaysia - 0.2%
Axiata Group Bhd	38,300		$ 36,676
Bumiputra-Commerce Holdings Bhd	11,000		40,782
IJM Corp. Bhd	24,200		32,600
TOTAL MALAYSIA			110,058
Mexico - 1.4%
America Movil SAB de CV Series L sponsored ADR	4,200		183,330
Cemex SA de CV sponsored ADR	12,329		113,304
Corporacion Geo SA de CV Series B (a)	7,900		20,973
Desarrolladora Homex SAB de CV sponsored ADR (a)	2,920		89,498
Empresas ICA Sociedad Controladora SA de CV sponsored ADR (a)	4,800		46,560
Fomento Economico Mexicano SAB de CV sponsored ADR	1,200		50,592
Grupo Financiero Banorte SAB de CV Series O	6,200		20,390
Grupo Televisa SA de CV (CPO) sponsored ADR	2,600		50,804
Telmex Internacional SAB de CV Series L ADR (b)	2,300		40,618
Wal-Mart de Mexico SA de CV Series V	35,100		155,640
TOTAL MEXICO			771,709
Netherlands - 2.2%
Aalberts Industries NV	1,200		17,453
Akzo Nobel NV	688		40,953
ASM International NV (NASDAQ) (a)	4,000		91,760
ASML Holding NV (NY Shares)	3,500		109,375
Gemalto NV (a)	2,849		113,098
Heijmans NV unit (a)	610		10,885
ING Groep NV:
(Certificaten Van Aandelen) unit (a)	14,810		138,685
sponsored ADR (a)	4,600		43,240
James Hardie Industries NV sponsored ADR (a)	3,325		110,357
Koninklijke Ahold NV	6,535		82,115
Koninklijke KPN NV	15,955		264,182
QIAGEN NV (a)	6,300		137,088
TOTAL NETHERLANDS			1,159,191
Nigeria - 0.1%
Guaranty Trust Bank PLC GDR (Reg. S)	4,600		34,715
Norway - 0.5%
Aker Solutions ASA	5,400		72,062
DnB NOR ASA (a)	11,300		127,603
Common Stocks - continued
	Shares		Value
Norway - continued
Orkla ASA (A Shares)	7,000		$ 63,124
Sevan Marine ASA (a)	7,000		10,076
TOTAL NORWAY			272,865
Papua New Guinea - 0.2%
Lihir Gold Ltd. sponsored ADR	3,550		86,088
Oil Search Ltd.	5,018		23,340
TOTAL PAPUA NEW GUINEA			109,428
Peru - 0.2%
Compania de Minas Buenaventura SA sponsored ADR	3,300		103,884
Philippines - 0.2%
Jollibee Food Corp.	10,800		12,194
Philippine Long Distance Telephone Co.	110		6,316
Philippine Long Distance Telephone Co. sponsored ADR	1,900		106,343
TOTAL PHILIPPINES			124,853
Portugal - 0.2%
Energias de Portugal SA	26,265		104,105
Russia - 1.2%
Magnit OJSC GDR (Reg. S)	2,100		31,592
Mechel Steel Group OAO sponsored ADR	2,300		45,517
Novorossiysk Commercial Sea Port JSC GDR (Reg. S)	2,400		27,525
OAO Gazprom sponsored ADR	9,380		226,996
OAO NOVATEK GDR	800		56,669
OAO Tatneft sponsored ADR	1,400		43,074
OJSC MMC Norilsk Nickel sponsored ADR (a)	3,800		58,140
OJSC Oil Company Rosneft GDR (Reg. S)	7,300		56,144
Polymetal JSC GDR (Reg. S) (a)	3,100		28,782
Sberbank (Savings Bank of the Russian Federation) GDR	290		87,265
TOTAL RUSSIA			661,704
Singapore - 1.4%
Allgreen Properties Ltd.	17,000		14,144
CapitaLand Ltd.	20,000		54,898
City Developments Ltd.	8,000		60,985
DBS Group Holdings Ltd.	17,000		172,629
Keppel Land Ltd.	4,000		9,330
Singapore Exchange Ltd.	38,000		215,908
Straits Asia Resources Ltd.	15,000		23,040
Common Stocks - continued
	Shares		Value
Singapore - continued
United Overseas Bank Ltd.	13,000		$ 167,879
Wing Tai Holdings Ltd.	43,000		60,238
TOTAL SINGAPORE			779,051
South Africa - 2.6%
African Bank Investments Ltd.	8,000		31,160
African Rainbow Minerals Ltd.	8,863		195,338
Aspen Pharmacare Holdings Ltd. (a)	4,900		43,326
Aveng Ltd.	6,800		31,669
Blue Financial Services Ltd. (a)	17,405		891
Blue Label Telecoms Ltd. (a)	32,700		21,235
Clicks Group Ltd.	35,507		123,440
Impala Platinum Holdings Ltd.	6,700		173,596
JSE Ltd.	12,800		94,876
Mr. Price Group Ltd.	28,500		131,571
MTN Group Ltd.	22,503		323,112
Mvelaphanda Resources Ltd. (a)	5,322		35,433
Naspers Ltd. Class N	1,500		53,131
Shoprite Holdings Ltd.	4,500		41,236
Standard Bank Group Ltd.	5,500		78,539
Truworths International Ltd.	3,800		21,137
TOTAL SOUTH AFRICA			1,399,690
Spain - 2.6%
Banco Bilbao Vizcaya Argentaria SA sponsored ADR	4,359		66,213
Banco Santander SA	4,932		69,938
Banco Santander SA sponsored ADR	11,600		163,328
Grifols SA	246		3,750
Iberdrola SA	7,500		63,852
Inditex SA	2,538		159,752
Prosegur Compania de Seguridad SA (Reg.)	2,691		121,862
Telefonica SA sponsored ADR	10,240		733,184
TOTAL SPAIN			1,381,879
Sweden - 0.8%
H&M Hennes & Mauritz AB (B Shares)	4,327		254,625
Intrum Justitia AB	1,400		17,043
Swedish Match Co.	3,700		77,475
Telefonaktiebolaget LM Ericsson (B Shares)	9,103		88,213
TOTAL SWEDEN			437,356
Switzerland - 8.0%
ABB Ltd. sponsored ADR	13,200		237,996
Common Stocks - continued
	Shares		Value
Switzerland - continued
Actelion Ltd. (Reg.) (a)	1,861		$ 98,455
Bank Sarasin & Co. Ltd. Series B (Reg.) (a)	3,351		114,417
Credit Suisse Group sponsored ADR	7,600		328,168
Nestle SA (Reg.)	18,399		872,103
Novartis AG sponsored ADR (b)	3,800		203,414
Roche Holding AG (participation certificate)	7,753		1,300,661
Sonova Holding AG Class B	1,743		215,720
The Swatch Group AG (Bearer)	470		122,857
Transocean Ltd. (a)	2,820		238,967
UBS AG:
(For. Reg.) (a)	3,373		43,989
(NY Shares) (a)	11,100		144,411
Zurich Financial Services AG (Reg.)	1,821		387,149
TOTAL SWITZERLAND			4,308,307
Taiwan - 1.5%
Acer, Inc.	18,050		50,652
Cathay Financial Holding Co. Ltd. (a)	25,000		42,390
China Steel Corp.	27,000		27,452
Delta Electronics, Inc.	11,000		33,380
Epistar Corp.	9,000		28,578
EVA Airways Corp. (a)	74,000		29,169
Hon Hai Precision Industry Co. Ltd. (Foxconn)	41,965		176,577
MediaTek, Inc.	4,006		65,169
Prime View International Co. Ltd. (a)	7,000		12,833
Prime View International Co. Ltd. sponsored GDR (a)(c)	700		12,840
Synnex Technology International Corp.	13,000		26,761
Taiwan Mobile Co. Ltd.	19,000		36,793
Taiwan Semiconductor Manufacturing Co. Ltd.	59,169		113,840
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	7,710		78,334
Wintek Corp. (a)	37,000		28,822
Yuanta Financial Holding Co. Ltd.	48,000		30,634
TOTAL TAIWAN			794,224
Thailand - 0.3%
Advanced Info Service PCL (For. Reg.)	11,800		29,509
Siam Commercial Bank PCL (For. Reg.)	44,800		107,647
TOTAL THAILAND			137,156
Turkey - 1.3%
Albaraka Turk Katilim Bankasi AS	7,000		11,410
Anadolu Efes Biracilik ve Malt Sanyii AS	10,600		110,465
Asya Katilim Bankasi AS (a)	64,200		169,833
Common Stocks - continued
	Shares		Value
Turkey - continued
Coca-Cola Icecek AS	14,500		$ 121,080
Tupras-Turkiye Petrol Rafinerileri AS	200		4,175
Turkiye Garanti Bankasi AS	67,700		287,181
TOTAL TURKEY			704,144
United Kingdom - 16.0%
Aberdeen Asset Management PLC	27,018		53,169
Aegis Group PLC	38,416		73,082
AMEC PLC	489		5,893
Anglo American PLC (United Kingdom) (a)	5,831		213,939
Babcock International Group PLC	21,400		191,089
BAE Systems PLC	41,700		233,863
Barclays PLC	24,317		103,928
Begbies Traynor Group PLC	7,700		11,243
Bellway PLC	6,528		76,908
BG Group PLC	23,099		424,634
BHP Billiton PLC ADR	12,200		714,676
BlueBay Asset Management	987		5,184
Bovis Homes Group PLC (a)	8,148		51,500
BP PLC sponsored ADR	5,600		314,272
Britvic PLC	2,100		14,081
Carphone Warehouse Group PLC	27,500		83,446
Centrica PLC	27,575		118,377
Chloride Group PLC	4,357		12,673
Cobham PLC	20,700		76,590
Derwent London PLC	700		14,570
easyJet PLC (a)	19,000		117,997
GlaxoSmithKline PLC sponsored ADR	3,900		152,139
Great Portland Estates PLC	12,472		55,710
H&T Group PLC	2,500		10,289
Hikma Pharmaceuticals PLC	4,896		42,746
HSBC Holdings PLC:
(United Kingdom) (Reg.)	31,379		335,919
sponsored ADR	4,600		246,146
Imperial Tobacco Group PLC	700		22,573
InterContinental Hotel Group PLC ADR	9,600		136,992
International Power PLC	12,589		64,270
Johnson Matthey PLC	4,992		116,051
Man Group PLC	27,936		104,697
Meggitt PLC	4,400		18,123
Misys PLC (a)	24,000		81,966
Mothercare PLC	1,599		16,354
Common Stocks - continued
	Shares		Value
United Kingdom - continued
National Grid PLC	7,000		$ 70,304
Persimmon PLC (a)	1,437		9,865
Prudential PLC	29,094		266,455
Quintain Estates & Development PLC (a)	9,776		9,129
Reckitt Benckiser Group PLC	4,938		255,977
Rio Tinto PLC:
(Reg.)	7,396		360,656
sponsored ADR	1,990		386,100
Rolls-Royce Group PLC	13,745		104,727
Rotork PLC	500		10,072
Royal Dutch Shell PLC Class A sponsored ADR	12,600		697,914
Serco Group PLC	27,020		214,772
Shaftesbury PLC	17,833		107,975
Spectris PLC	1,332		16,181
Spirax-Sarco Engineering PLC	1,604		32,016
SSL International PLC	3,269		40,507
St. Modwen Properties PLC (a)	2,000		6,000
Standard Chartered PLC (United Kingdom)	14,093		324,604
Ted Baker PLC	1,875		14,769
Tesco PLC	51,483		348,417
Tullow Oil PLC	1,242		22,749
Ultra Electronics Holdings PLC	700		14,159
Unite Group PLC (a)	23,902		109,491
Victrex PLC	4,018		52,060
Vodafone Group PLC	37,300		79,686
Vodafone Group PLC sponsored ADR	25,300		542,938
Wolseley PLC (a)	5,563		122,387
Xstrata PLC (a)	2,428		39,396
TOTAL UNITED KINGDOM			8,574,395
United States of America - 3.9%
Advanced Energy Industries, Inc. (a)	8,781		115,207
Airgas, Inc.	310		13,101
Allergan, Inc.	1,700		97,750
Autoliv, Inc.	3,800		162,678
Berkshire Hathaway, Inc. Class B (a)	1,450		110,824
Central European Distribution Corp. (a)	1,200		38,460
Cymer, Inc. (a)	1,700		53,329
Dril-Quip, Inc. (a)	200		10,498
Evercore Partners, Inc. Class A	300		8,961
Freeport-McMoRan Copper & Gold, Inc.	500		33,345
ION Geophysical Corp. (a)	11,181		53,110
Common Stocks - continued
	Shares		Value
United States of America - continued
Juniper Networks, Inc. (a)	9,880		$ 245,320
Kansas City Southern (a)	590		17,523
Lam Research Corp. (a)	197		6,503
Martin Marietta Materials, Inc.	110		8,710
Mead Johnson Nutrition Co. Class A	1,900		85,937
Mohawk Industries, Inc. (a)	2,540		105,181
Monsanto Co.	1,000		75,880
Philip Morris International, Inc.	2,500		113,775
PriceSmart, Inc.	2,300		46,023
ResMed, Inc. (a)	2,300		117,622
Union Pacific Corp.	1,900		114,950
Varian Semiconductor Equipment Associates, Inc. (a)	200		5,866
Visa, Inc. Class A	5,600		459,368
TOTAL UNITED STATES OF AMERICA			2,099,921
TOTAL COMMON STOCKS (Cost $55,173,060)		52,470,026
Nonconvertible Preferred Stocks - 0.4%
Italy - 0.4%
Fiat SpA (Risparmio Shares)	7,200		57,952
Telecom Italia SpA (Risparmio Shares)	138,500		160,873
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $236,221)		218,825
Money Market Funds - 1.2%
Fidelity Securities Lending Cash Central Fund, 0.18% (d)(e) (Cost $652,605)	652,605		652,605
Cash Equivalents - 1.8%
	Maturity Amount		Value
Investments in repurchase agreements in a joint trading account at 0.1%, dated 1/29/10 due 2/1/10 (Collateralized by U.S. Treasury Obligations) # (Cost $969,000)	$ 969,008		$ 969,000
TOTAL INVESTMENT PORTFOLIO - 101.2% (Cost $57,030,886)			54,310,456
NET OTHER ASSETS - (1.2)%			(610,815)
NET ASSETS - 100%		$ 53,699,641

Legend

(a) Non-income producing

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

(c) 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 $87,824 or 0.2% of net assets.

(d) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$969,000 due 2/01/10 at 0.10%
BNP Paribas Securities Corp.	$ 143,628
Banc of America Securities LLC	105,239
Bank of America, NA	67,630
Barclays Capital, Inc.	141,681
Citigroup Global Markets, Inc.	105,239
Credit Suisse Securities (USA) LLC	195,106
ING Financial Markets LLC	70,159
J.P. Morgan Securities, Inc.	70,159
Mizuho Securities USA, Inc.	70,159
	$ 969,000

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 Securities Lending Cash Central Fund	$ 1,091

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 8,574,395	$ 3,191,177	$ 5,383,218	$ -
Japan	6,844,511	5,706,838	1,137,673	-
Switzerland	4,308,307	1,152,956	3,155,351	-
France	2,996,558	1,147,962	1,848,596	-
Germany	2,804,359	645,808	2,158,551	-
Brazil	2,722,973	2,722,973	-	-
United States of America	2,099,921	2,099,921	-	-
Australia	1,617,396	1,617,396	-	-
Canada	1,582,556	1,582,556	-	-
Other	19,137,875	12,719,463	6,418,412	-
Money Market Funds	652,605	652,605	-	-
Cash Equivalents	969,000	-	969,000	-
Total Investments in Securities:	$ 54,310,456	$ 33,239,655	$ 21,070,801	$ -

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

Investments in Securities:
Beginning Balance	$ 369
Total Realized Gain (Loss)	(25,822)
Total Unrealized Gain (Loss)	25,854
Cost of Purchases	-
Proceeds of Sales	(401)
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $58,003,389. Net unrealized depreciation aggregated $3,692,933, of which $4,194,633 related to appreciated investment securities and $7,887,566 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 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.

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Quarterly Report

Quarterly Holdings Report

for

Fidelity® Worldwide Fund

January 31, 2010

1.813085.105

WLD-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%
	Shares		Value
Australia - 1.8%
Billabong International Ltd.	75,451		$ 699,200
Commonwealth Bank of Australia	91,077		4,286,869
Goodman Group unit	1,060,044		548,346
Macquarie Group Ltd.	64,200		2,847,526
National Australia Bank Ltd.	110,912		2,586,210
Newcrest Mining Ltd.	107,396		2,994,244
QBE Insurance Group Ltd.	42,406		859,443
Wesfarmers Ltd.	61,452		1,494,864
Westfield Group unit	128,519		1,436,447
TOTAL AUSTRALIA			17,753,149
Bailiwick of Jersey - 0.7%
Experian PLC	149,600		1,422,382
Informa PLC	705,232		3,695,511
Shire PLC	85,300		1,689,325
TOTAL BAILIWICK OF JERSEY			6,807,218
Belgium - 0.7%
Anheuser-Busch InBev SA NV	130,802		6,527,049
Bermuda - 0.6%
Aquarius Platinum Ltd. (United Kingdom) (a)	81,666		480,209
Bunge Ltd.	26,000		1,528,540
Huabao International Holdings Ltd.	1,996,000		2,030,977
Marvell Technology Group Ltd. (a)	67,000		1,167,810
Noble Group Ltd.	608,000		1,245,184
TOTAL BERMUDA			6,452,720
Brazil - 0.4%
Vivo Participacoes SA sponsored ADR	126,625		3,544,234
British Virgin Islands - 0.2%
Playtech Ltd.	200,359		1,644,130
Canada - 1.4%
InterOil Corp. (a)(c)	13,400		792,074
Keyera Facilities Income Fund	126,899		2,879,051
Niko Resources Ltd.	26,700		2,465,499
Open Text Corp. (a)	67,900		2,675,233
PetroBakken Energy Ltd. Class A	86,602		2,401,337
Petrobank Energy & Resources Ltd. (a)	46,800		2,312,208
TOTAL CANADA			13,525,402
Cayman Islands - 0.6%
BaWang International (Group) Holding Ltd.	2,385,000		1,379,279
Belle International Holdings Ltd.	870,000		989,458
Bosideng International Holdings Ltd.	4,024,000		798,171
Hengdeli Holdings Ltd.	3,588,000		1,192,311
Herbalife Ltd.	13,000		505,050
Peak Sport Products Co. Ltd.	508,000		316,030
Trina Solar Ltd. ADR (a)(c)	47,200		1,035,096
TOTAL CAYMAN ISLANDS			6,215,395
	Shares		Value
Chile - 0.0%
Embotelladora Andina SA sponsored ADR	23,000		$ 457,240
China - 1.1%
Baidu.com, Inc. sponsored ADR (a)	11,300		4,652,323
NetEase.com, Inc. sponsored ADR (a)	15,200		498,560
Tencent Holdings Ltd.	176,200		3,295,261
ZTE Corp. (H Shares)	347,584		2,041,465
TOTAL CHINA			10,487,609
Cyprus - 0.0%
Aisi Realty Public Ltd. (a)	1,232,268		73,347
Denmark - 0.9%
Carlsberg AS Series B	19,000		1,416,979
Novo Nordisk AS Series B	59,653		4,035,845
William Demant Holding AS (a)	49,200		3,839,568
TOTAL DENMARK			9,292,392
Finland - 0.2%
Nokian Tyres PLC	68,200		1,648,819
France - 4.9%
Accor SA	26,560		1,339,912
Air France KLM (Reg.) (a)	145,500		2,370,836
Alstom SA	9,781		653,054
Atos Origin SA (a)	49,550		2,304,362
AXA SA	134,237		2,763,952
BNP Paribas SA	48,735		3,481,355
Cap Gemini SA	13,000		577,229
CFAO SA	14,500		578,921
Compagnie Generale de Geophysique SA (a)	48,500		1,186,126
Credit Agricole SA	133,300		2,089,515
Danone	33,565		1,919,280
Iliad Group SA	27,158		3,009,938
LVMH Moet Hennessy - Louis Vuitton	14,519		1,581,861
Orpea	30,200		1,306,691
Pernod-Ricard SA	21,114		1,698,302
PPR SA	18,950		2,310,803
Sanofi-Aventis	88,596		6,550,945
Schneider Electric SA	40,071		4,133,761
Societe Generale Series A	35,251		2,039,451
Total SA Series B	100,821		5,826,573
Unibail-Rodamco	6,389		1,384,332
TOTAL FRANCE			49,107,199
Germany - 3.5%
Aixtron AG	51,700		1,555,233
BASF AG	42,808		2,429,624
Bayerische Motoren Werke AG (BMW)	15,238		649,505
Daimler AG (Reg.)	32,187		1,474,487
Deutsche Bank AG	30,600		1,865,682
Deutsche Boerse AG	36,623		2,397,496
Deutsche Post AG	58,109		1,011,216
Deutsche Postbank AG (a)	44,600		1,357,923
Common Stocks - continued
	Shares		Value
Germany - continued
E.ON AG	177,716		$ 6,522,891
GEA Group AG	113,972		2,322,273
HeidelbergCement AG	68,666		4,137,822
MAN SE	34,660		2,317,185
Metro AG	13,600		741,834
Munich Re Group (Reg.)	6,307		942,120
Siemens AG (Reg.) (c)	54,772		4,880,733
TOTAL GERMANY			34,606,024
Greece - 0.3%
EFG Eurobank Ergasias SA	66,300		564,845
Hellenic Telecommunications Organization SA	74,802		1,024,794
National Bank of Greece SA (a)	47,200		1,031,712
TOTAL GREECE			2,621,351
Hong Kong - 0.5%
BYD Electronic International Co. Ltd. (a)	1,139,500		964,266
Henderson Land Development Co. Ltd.	203,000		1,285,100
Sinotruk Hong Kong Ltd.	493,000		575,932
Techtronic Industries Co. Ltd.	2,307,500		1,914,013
TOTAL HONG KONG			4,739,311
India - 0.3%
Dr. Reddy's Laboratories Ltd. sponsored ADR (c)	55,000		1,304,050
Reliance Industries Ltd.	49,372		1,119,848
Tata Steel Ltd.	58,865		726,289
TOTAL INDIA			3,150,187
Ireland - 1.0%
Covidien PLC	51,000		2,578,560
CRH PLC	80,819		1,940,731
Ingersoll-Rand Co. Ltd.	77,800		2,525,388
Paddy Power PLC (Ireland)	61,400		2,030,919
Warner Chilcott PLC (a)	37,000		1,011,210
TOTAL IRELAND			10,086,808
Israel - 1.3%
Israel Chemicals Ltd.	81,400		1,077,611
Teva Pharmaceutical Industries Ltd. sponsored ADR	205,200		11,638,944
TOTAL ISRAEL			12,716,555
Italy - 0.8%
Fiat SpA (a)	285,800		3,581,503
Intesa Sanpaolo SpA	304,069		1,157,439
Mediaset SpA	174,800		1,326,826
Saipem SpA	67,244		2,177,012
TOTAL ITALY			8,242,780
Japan - 10.2%
ABC-Mart, Inc.	17,900		553,240
Asics Corp.	155,000		1,535,061
	Shares		Value
Canon, Inc.	102,350		$ 4,000,442
Denso Corp.	86,400		2,550,748
Don Quijote Co. Ltd.	34,200		768,714
Fanuc Ltd.	11,700		1,122,433
Goldcrest Co. Ltd.	23,480		660,936
Honda Motor Co. Ltd.	86,900		2,944,801
Japan Tobacco, Inc.	1,103		3,995,580
JFE Holdings, Inc.	42,500		1,487,759
JSR Corp.	126,300		2,494,659
JTEKT Corp.	139,800		1,596,697
Keyence Corp.	10,700		2,469,048
Kirin Holdings Co. Ltd.	175,000		2,673,369
Konica Minolta Holdings, Inc.	125,000		1,279,495
Kubota Corp.	158,000		1,422,998
Mazda Motor Corp. (a)	741,000		2,011,133
Misumi Group, Inc.	46,300		807,314
Mitsubishi Corp.	107,700		2,609,282
Mitsubishi UFJ Financial Group, Inc.	1,082,000		5,567,741
Mitsui & Co. Ltd.	190,800		2,815,394
Mitsui Sumitomo Insurance Group Holdings, Inc.	31,400		787,870
Mizuho Financial Group, Inc.	312,200		605,240
NHK Spring Co. Ltd.	68,000		593,597
Nichi-iko Pharmaceutical Co. Ltd.	33,000		1,008,973
Nissan Motor Co. Ltd. (a)	161,000		1,308,668
Nitori Co. Ltd.	5,400		409,172
Nomura Holdings, Inc.	227,100		1,697,770
NSK Ltd.	271,000		1,972,383
Omron Corp.	221,200		4,408,317
ORIX Corp.	59,420		4,476,083
Rakuten, Inc.	4,389		3,593,077
Ricoh Co. Ltd.	187,000		2,680,603
Sawai Pharmaceutical Co. Ltd.	9,100		600,820
Shin-Etsu Chemical Co., Ltd.	61,800		3,238,219
SMC Corp.	10,700		1,295,569
SOFTBANK CORP.	165,100		4,208,431
Sony Corp.	68,100		2,271,121
Sumco Corp.	112,200		1,936,497
Sumitomo Mitsui Financial Group, Inc.	116,800		3,797,585
THK Co. Ltd.	95,800		1,900,718
Tokio Marine Holdings, Inc.	96,800		2,616,506
Tokyo Electron Ltd.	74,400		4,549,551
Toshiba Corp. (a)	527,000		2,901,506
Toyota Motor Corp.	99,800		3,838,446
TOTAL JAPAN			102,063,566
Korea (South) - 0.8%
Kia Motors Corp. (a)	79,390		1,339,265
NHN Corp. (a)	8,222		1,227,376
Samsung Electronics Co. Ltd.	4,854		3,283,748
Shinhan Financial Group Co. Ltd. (a)	58,350		2,042,430
TOTAL KOREA (SOUTH)			7,892,819
Common Stocks - continued
	Shares		Value
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A (c)	93,400		$ 3,612,712
Millicom International Cellular SA	15,000		1,069,800
TOTAL LUXEMBOURG			4,682,512
Netherlands - 2.1%
Akzo Nobel NV	19,929		1,186,266
ASML Holding NV:
(Netherlands)	76,700		2,408,767
(NY Shares)	21,800		681,250
Gemalto NV (a)	46,834		1,859,193
ING Groep NV (Certificaten Van Aandelen) unit (a)	149,900		1,403,708
James Hardie Industries NV unit (a)	309,021		2,049,389
Koninklijke Philips Electronics NV	173,000		5,224,091
Randstad Holdings NV (a)	110,075		5,282,589
Royal DSM NV	15,853		738,848
TNT NV	13,000		373,195
TOTAL NETHERLANDS			21,207,296
Netherlands Antilles - 0.1%
Schlumberger Ltd.	16,800		1,066,128
Nigeria - 0.0%
Guaranty Trust Bank PLC GDR (Reg. S)	27,300		206,028
Norway - 0.5%
Aker Solutions ASA	76,600		1,022,217
DnB NOR ASA (a)	201,000		2,269,755
Pronova BioPharma ASA (a)	250,800		737,939
Sevan Marine ASA (a)	426,000		613,171
TOTAL NORWAY			4,643,082
Singapore - 0.3%
Avago Technologies Ltd.	120,000		2,085,600
Keppel Corp. Ltd.	234,000		1,392,768
TOTAL SINGAPORE			3,478,368
South Africa - 0.4%
African Rainbow Minerals Ltd.	67,500		1,487,681
AngloGold Ashanti Ltd. sponsored ADR	40,100		1,431,169
Naspers Ltd. Class N	30,800		1,090,966
TOTAL SOUTH AFRICA			4,009,816
Spain - 1.4%
Banco Bilbao Vizcaya Argentaria SA	146,424		2,231,943
Banco Santander SA	304,037		4,311,388
NH Hoteles SA (a)	79,900		394,243
Telefonica SA	299,667		7,178,426
TOTAL SPAIN			14,116,000
Sweden - 0.6%
Elekta AB (B Shares)	134,000		3,143,456
Intrum Justitia AB	57,100		695,129
	Shares		Value
Modern Times Group MTG AB (B Shares)	34,200		$ 1,568,295
Skandinaviska Enskilda Banken AB (A Shares) (a)	87,000		515,230
TOTAL SWEDEN			5,922,110
Switzerland - 4.2%
Actelion Ltd. (Reg.) (a)	35,748		1,891,232
Adecco SA (Reg.)	27,733		1,494,207
BB BIOTECH AG	19,114		1,313,290
Nestle SA (Reg.)	174,658		8,278,701
Nobel Biocare Holding AG (Switzerland)	75,420		2,218,295
Novartis AG (Reg.)	105,757		5,659,309
Partners Group Holding	9,538		1,183,454
Roche Holding AG (participation certificate)	43,521		7,301,217
Sonova Holding AG Class B	29,611		3,664,770
Swiss Reinsurance Co. (Reg.)	48,328		2,089,114
Syngenta AG (Switzerland)	2,100		537,381
The Swatch Group AG (Bearer)	4,320		1,129,240
UBS AG (For. Reg.) (a)	227,485		2,966,718
Zurich Financial Services AG (Reg.)	9,226		1,961,467
TOTAL SWITZERLAND			41,688,395
Taiwan - 0.3%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	310,350		1,305,868
MediaTek, Inc.	132,000		2,147,349
TOTAL TAIWAN			3,453,217
Thailand - 0.1%
Bangkok Bank Ltd. PCL (For. Reg.)	396,900		1,345,322
United Kingdom - 11.0%
Aberdeen Asset Management PLC	1,000,938		1,969,754
Aegis Group PLC	435,400		828,293
Anglo American PLC (United Kingdom) (a)	74,318		2,726,720
Babcock International Group PLC	145,600		1,300,123
Barclays PLC	1,062,179		4,539,622
BG Group PLC	267,888		4,924,647
BG Group PLC sponsored ADR	10,900		1,003,018
BHP Billiton PLC	232,816		6,829,506
BP PLC	928,300		8,660,809
British American Tobacco PLC sponsored ADR	13,000		865,020
British Land Co. PLC	125,728		872,392
Carphone Warehouse Group PLC	884,358		2,683,507
Cookson Group PLC (a)	82,570		559,715
Hays PLC	468,790		823,980
HSBC Holdings PLC (United Kingdom) (Reg.)	1,081,242		11,574,945
IG Group Holdings PLC	288,329		1,852,825
Imperial Tobacco Group PLC	125,606		4,050,392
InterContinental Hotel Group PLC	115,278		1,648,579
International Personal Finance PLC	517,515		1,810,820
Johnson Matthey PLC	56,210		1,306,740
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Kesa Electricals PLC	352,300		$ 721,939
Lloyds TSB Group PLC	2,279,654		1,832,652
Man Group PLC	567,815		2,128,017
Misys PLC (a)	118,700		405,388
Mothercare PLC	23,700		242,397
National Grid PLC	98,300		987,269
Prudential PLC	273,326		2,503,238
Reckitt Benckiser Group PLC	88,541		4,589,800
Rio Tinto PLC (Reg.)	154,740		7,545,680
Royal Dutch Shell PLC Class B	281,539		7,489,088
Schroders PLC	117,800		2,327,930
Segro PLC	225,300		1,119,056
Serco Group PLC	281,651		2,238,735
SSL International PLC	264,504		3,277,555
Standard Chartered PLC (United Kingdom)	96,936		2,232,727
Taylor Wimpey PLC (a)	2,421,144		1,487,177
Ultra Electronics Holdings PLC	32,400		655,348
Unilever PLC	76,100		2,314,055
Vodafone Group PLC sponsored ADR	47,212		1,013,170
Wolseley PLC (a)	78,760		1,732,736
Xstrata PLC (a)	101,976		1,654,647
TOTAL UNITED KINGDOM			109,330,011
United States of America - 43.7%
3M Co.	27,000		2,173,230
Advanced Micro Devices, Inc. (a)	98,000		731,080
AGA Medical Holdings, Inc.	7,000		100,310
AGCO Corp. (a)	36,000		1,112,760
Agilent Technologies, Inc.	114,000		3,195,420
Allegheny Technologies, Inc.	44,000		1,797,400
Amazon.com, Inc. (a)	47,800		5,994,598
American Express Co.	488,200		18,385,612
Anadarko Petroleum Corp.	131,000		8,355,180
Apple, Inc. (a)	97,600		18,750,912
Applied Micro Circuits Corp. (a)	185,000		1,356,050
Arena Resources, Inc. (a)	51,000		1,955,340
AsiaInfo Holdings, Inc. (a)	27,400		654,860
Baker Hughes, Inc.	67,000		3,033,760
Bank of America Corp.	441,000		6,694,380
Berkshire Hathaway, Inc. Class B (a)	64,000		4,891,520
BioMarin Pharmaceutical, Inc. (a)	49,000		952,070
BMC Software, Inc. (a)	60,000		2,318,400
Bruker BioSciences Corp. (a)	83,000		1,018,410
Bucyrus International, Inc. Class A	18,000		942,840
CareFusion Corp. (a)	133,000		3,424,750
Celanese Corp. Class A	394,460		11,478,786
Central European Distribution Corp. (a)	67,600		2,166,580
Cerner Corp. (a)	20,000		1,513,000
Charles Schwab Corp.	192,000		3,511,680
CIGNA Corp.	241,000		8,138,570
Cisco Systems, Inc. (a)	278,700		6,262,389
Citrix Systems, Inc. (a)	196,000		8,143,800
	Shares		Value
Cliffs Natural Resources, Inc.	5,000		$ 199,750
CME Group, Inc.	5,300		1,520,146
Cognizant Technology Solutions Corp. Class A (a)	38,000		1,659,080
Comerica, Inc.	352,000		12,147,520
CSX Corp.	53,000		2,271,580
Cummins, Inc.	236,800		10,693,888
Deere & Co.	18,000		899,100
Dendreon Corp. (a)	65,000		1,800,500
Diamond Foods, Inc.	37,800		1,357,776
DineEquity, Inc. (a)	40,000		909,600
Dow Chemical Co.	75,000		2,031,750
Drew Industries, Inc. (a)	13,000		241,800
DSW, Inc. Class A (a)	15,000		361,500
Eaton Corp.	32,000		1,959,680
eBay, Inc. (a)	78,000		1,795,560
EMC Corp. (a)	50,000		833,500
Estee Lauder Companies, Inc. Class A	126,000		6,617,520
ev3, Inc. (a)	46,000		670,680
Express Scripts, Inc. (a)	29,000		2,431,940
F5 Networks, Inc. (a)	9,000		444,870
Fiserv, Inc. (a)	13,000		585,520
Fluor Corp.	59,000		2,675,060
Franklin Resources, Inc.	16,000		1,584,480
G-III Apparel Group Ltd. (a)	12,600		219,366
General Electric Co.	163,000		2,621,040
Genworth Financial, Inc. Class A (a)	50,000		692,000
Google, Inc. Class A (a)	18,200		9,635,444
Group 1 Automotive, Inc. (a)	5,000		145,000
Harley-Davidson, Inc.	10,000		227,400
Hewitt Associates, Inc. Class A (a)	28,000		1,105,440
Hewlett-Packard Co.	117,000		5,507,190
ImmunoGen, Inc. (a)	45,523		318,206
Informatica Corp. (a)	112,000		2,653,280
International Coal Group, Inc. (a)	32,000		114,240
iRobot Corp. (a)	156,000		2,464,800
J. Crew Group, Inc. (a)	18,000		705,780
J.B. Hunt Transport Services, Inc.	20,000		613,200
Jacobs Engineering Group, Inc. (a)	57,000		2,154,030
Johnson Controls, Inc.	55,419		1,542,311
JPMorgan Chase & Co.	203,400		7,920,396
King Pharmaceuticals, Inc. (a)	30,000		360,300
Lam Research Corp. (a)	98,000		3,234,980
Life Technologies Corp. (a)	16,000		795,360
Lithia Motors, Inc. Class A (sub. vtg.) (a)	13,000		101,400
Mako Surgical Corp. (a)(c)	146,500		1,681,820
Mariner Energy, Inc. (a)	42,700		617,015
Medco Health Solutions, Inc. (a)	34,000		2,090,320
Merck & Co., Inc.	449,000		17,142,820
Micromet, Inc. (a)	100,000		777,000
Microsoft Corp.	630,000		17,753,400
Micrus Endovascular Corp. (a)	7,000		117,460
Monsanto Co.	62,000		4,704,560
Morgan Stanley	97,400		2,608,372
Common Stocks - continued
	Shares		Value
United States of America - continued
National Oilwell Varco, Inc.	15,000		$ 613,500
NetApp, Inc. (a)	36,000		1,048,680
News Corp. Class B (c)	76,000		1,115,680
NVIDIA Corp. (a)	31,000		477,090
Occidental Petroleum Corp.	172,000		13,474,480
Peabody Energy Corp.	222,000		9,350,640
Pfizer, Inc.	411,000		7,669,260
Philip Morris International, Inc.	56,000		2,548,560
Pioneer Drilling Co. (a)	13,000		103,350
Plains Exploration & Production Co. (a)	65,000		2,167,750
PMC-Sierra, Inc. (a)	71,000		564,450
Polo Ralph Lauren Corp. Class A	16,000		1,312,000
Precision Castparts Corp.	52,000		5,473,000
Prudential Financial, Inc.	25,000		1,249,750
Quanex Building Products Corp.	13,000		209,040
Rackspace Hosting, Inc. (a)	16,000		291,520
RadioShack Corp.	20,000		390,400
Red Hat, Inc. (a)	68,000		1,850,960
Regal-Beloit Corp.	57,200		2,711,280
RSC Holdings, Inc. (a)	43,000		308,740
Salesforce.com, Inc. (a)	7,000		444,850
SanDisk Corp. (a)	13,000		330,460
Schweitzer-Mauduit International, Inc.	27,000		2,031,480
Smith International, Inc.	69,000		2,092,080
Solera Holdings, Inc.	68,000		2,251,480
Starbucks Corp. (a)	203,000		4,423,370
Stoneridge, Inc. (a)	32,000		223,360
Strayer Education, Inc.	9,100		1,890,798
SVB Financial Group (a)	19,000		824,410
Taleo Corp. Class A (a)	39,400		800,214
TECO Energy, Inc.	310,000		4,826,700
Teradyne, Inc. (a)(c)	543,000		5,071,620
Terra Industries, Inc.	101,300		3,201,080
TETRA Technologies, Inc. (a)	110,900		1,160,014
The Coca-Cola Co.	42,600		2,311,050
The Stanley Works	12,000		615,000
The Walt Disney Co.	156,000		4,609,800
Thor Industries, Inc.	27,300		866,775
Titanium Metals Corp. (a)	52,000		604,760
TJX Companies, Inc.	36,000		1,368,360
Unifirst Corp.	7,000		351,680
Union Pacific Corp.	405,500		24,532,733
United Rentals, Inc. (a)	15,000		120,150
Viacom, Inc. Class B (non-vtg.) (a)	214,100		6,238,874
Visa, Inc. Class A	34,700		2,846,441
Walgreen Co.	197,000		7,101,850
Watson Pharmaceuticals, Inc. (a)	33,000		1,266,210
WebMD Health Corp. (a)	71,660		2,793,307
Wells Fargo & Co.	370,700		10,539,001
	Shares		Value
WMS Industries, Inc. (a)	176,000		$ 6,526,080
Wyndham Worldwide Corp.	215,370		4,520,616
TOTAL UNITED STATES OF AMERICA			435,085,150
TOTAL COMMON STOCKS (Cost $918,070,960)		969,888,739
Nonconvertible Preferred Stocks - 0.4%
Germany - 0.2%
ProSiebenSat.1 Media AG	104,500		1,406,472
Italy - 0.2%
Intesa Sanpaolo SpA	809,900		2,375,350
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $4,356,827)		3,781,822

Convertible Bonds - 0.4%
	Principal Amount
Bermuda - 0.2%
Ingersoll-Rand Global Holding Co. Ltd. 4.5% 4/15/12	$ 890,000		1,669,907
United States of America - 0.2%
Hertz Global Holdings, Inc. 5.25% 6/1/14	1,340,000		1,945,835
James River Coal Co. 4.5% 12/1/15 (d)	440,000		389,620
TOTAL UNITED STATES OF AMERICA			2,335,455
TOTAL CONVERTIBLE BONDS (Cost $2,833,792)		4,005,362

Money Market Funds - 2.1%
	Shares
Fidelity Cash Central Fund, 0.17% (e)	8,199,113		8,199,113
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	12,868,650		12,868,650
TOTAL MONEY MARKET FUNDS (Cost $21,067,763)		21,067,763

TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $946,329,342) 998,743,686

NET OTHER ASSETS - (0.3)%		(2,586,266)
NET ASSETS - 100%	$ 996,157,420

Legend

(a) Non-income producing

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

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

(d) 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 $389,620 or 0.0% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 4,703
Fidelity Securities Lending Cash Central Fund	43,693
Total	$ 48,396

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United States of America	$ 435,085,150	$ 435,085,150	$ -	$ -
United Kingdom	109,330,011	2,881,208	106,448,803	-
Japan	102,063,566	80,434,577	21,628,989	-
France	49,107,199	-	49,107,199	-
Switzerland	41,688,395	-	41,688,395	-
Germany	36,012,496	-	36,012,496	-
Netherlands	21,207,296	2,730,639	18,476,657	-
Australia	17,753,149	17,753,149	-	-
Spain	14,116,000	-	14,116,000	-
Other	147,307,299	90,809,354	56,497,945	-
Corporate Bonds	4,005,362	-	4,005,362	-
Money Market Funds	21,067,763	21,067,763	-	-
Total Investments in Securities:	$ 998,743,686	$ 650,761,840	$ 347,981,846	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $963,985,730. Net unrealized appreciation aggregated $34,757,956, of which $102,649,877 related to appreciated investment securities and $67,891,921 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated quotations received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

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

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

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Advisor Worldwide Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2010

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

1.883453.100

AWLD-QTLY-0310

Investments January 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%
	Shares		Value
Australia - 1.8%
Billabong International Ltd.	75,451		$ 699,200
Commonwealth Bank of Australia	91,077		4,286,869
Goodman Group unit	1,060,044		548,346
Macquarie Group Ltd.	64,200		2,847,526
National Australia Bank Ltd.	110,912		2,586,210
Newcrest Mining Ltd.	107,396		2,994,244
QBE Insurance Group Ltd.	42,406		859,443
Wesfarmers Ltd.	61,452		1,494,864
Westfield Group unit	128,519		1,436,447
TOTAL AUSTRALIA			17,753,149
Bailiwick of Jersey - 0.7%
Experian PLC	149,600		1,422,382
Informa PLC	705,232		3,695,511
Shire PLC	85,300		1,689,325
TOTAL BAILIWICK OF JERSEY			6,807,218
Belgium - 0.7%
Anheuser-Busch InBev SA NV	130,802		6,527,049
Bermuda - 0.6%
Aquarius Platinum Ltd. (United Kingdom) (a)	81,666		480,209
Bunge Ltd.	26,000		1,528,540
Huabao International Holdings Ltd.	1,996,000		2,030,977
Marvell Technology Group Ltd. (a)	67,000		1,167,810
Noble Group Ltd.	608,000		1,245,184
TOTAL BERMUDA			6,452,720
Brazil - 0.4%
Vivo Participacoes SA sponsored ADR	126,625		3,544,234
British Virgin Islands - 0.2%
Playtech Ltd.	200,359		1,644,130
Canada - 1.4%
InterOil Corp. (a)(c)	13,400		792,074
Keyera Facilities Income Fund	126,899		2,879,051
Niko Resources Ltd.	26,700		2,465,499
Open Text Corp. (a)	67,900		2,675,233
PetroBakken Energy Ltd. Class A	86,602		2,401,337
Petrobank Energy & Resources Ltd. (a)	46,800		2,312,208
TOTAL CANADA			13,525,402
Cayman Islands - 0.6%
BaWang International (Group) Holding Ltd.	2,385,000		1,379,279
Belle International Holdings Ltd.	870,000		989,458
Bosideng International Holdings Ltd.	4,024,000		798,171
Hengdeli Holdings Ltd.	3,588,000		1,192,311
Herbalife Ltd.	13,000		505,050
Peak Sport Products Co. Ltd.	508,000		316,030
Trina Solar Ltd. ADR (a)(c)	47,200		1,035,096
TOTAL CAYMAN ISLANDS			6,215,395
	Shares		Value
Chile - 0.0%
Embotelladora Andina SA sponsored ADR	23,000		$ 457,240
China - 1.1%
Baidu.com, Inc. sponsored ADR (a)	11,300		4,652,323
NetEase.com, Inc. sponsored ADR (a)	15,200		498,560
Tencent Holdings Ltd.	176,200		3,295,261
ZTE Corp. (H Shares)	347,584		2,041,465
TOTAL CHINA			10,487,609
Cyprus - 0.0%
Aisi Realty Public Ltd. (a)	1,232,268		73,347
Denmark - 0.9%
Carlsberg AS Series B	19,000		1,416,979
Novo Nordisk AS Series B	59,653		4,035,845
William Demant Holding AS (a)	49,200		3,839,568
TOTAL DENMARK			9,292,392
Finland - 0.2%
Nokian Tyres PLC	68,200		1,648,819
France - 4.9%
Accor SA	26,560		1,339,912
Air France KLM (Reg.) (a)	145,500		2,370,836
Alstom SA	9,781		653,054
Atos Origin SA (a)	49,550		2,304,362
AXA SA	134,237		2,763,952
BNP Paribas SA	48,735		3,481,355
Cap Gemini SA	13,000		577,229
CFAO SA	14,500		578,921
Compagnie Generale de Geophysique SA (a)	48,500		1,186,126
Credit Agricole SA	133,300		2,089,515
Danone	33,565		1,919,280
Iliad Group SA	27,158		3,009,938
LVMH Moet Hennessy - Louis Vuitton	14,519		1,581,861
Orpea	30,200		1,306,691
Pernod-Ricard SA	21,114		1,698,302
PPR SA	18,950		2,310,803
Sanofi-Aventis	88,596		6,550,945
Schneider Electric SA	40,071		4,133,761
Societe Generale Series A	35,251		2,039,451
Total SA Series B	100,821		5,826,573
Unibail-Rodamco	6,389		1,384,332
TOTAL FRANCE			49,107,199
Germany - 3.5%
Aixtron AG	51,700		1,555,233
BASF AG	42,808		2,429,624
Bayerische Motoren Werke AG (BMW)	15,238		649,505
Daimler AG (Reg.)	32,187		1,474,487
Deutsche Bank AG	30,600		1,865,682
Deutsche Boerse AG	36,623		2,397,496
Deutsche Post AG	58,109		1,011,216
Deutsche Postbank AG (a)	44,600		1,357,923
Common Stocks - continued
	Shares		Value
Germany - continued
E.ON AG	177,716		$ 6,522,891
GEA Group AG	113,972		2,322,273
HeidelbergCement AG	68,666		4,137,822
MAN SE	34,660		2,317,185
Metro AG	13,600		741,834
Munich Re Group (Reg.)	6,307		942,120
Siemens AG (Reg.) (c)	54,772		4,880,733
TOTAL GERMANY			34,606,024
Greece - 0.3%
EFG Eurobank Ergasias SA	66,300		564,845
Hellenic Telecommunications Organization SA	74,802		1,024,794
National Bank of Greece SA (a)	47,200		1,031,712
TOTAL GREECE			2,621,351
Hong Kong - 0.5%
BYD Electronic International Co. Ltd. (a)	1,139,500		964,266
Henderson Land Development Co. Ltd.	203,000		1,285,100
Sinotruk Hong Kong Ltd.	493,000		575,932
Techtronic Industries Co. Ltd.	2,307,500		1,914,013
TOTAL HONG KONG			4,739,311
India - 0.3%
Dr. Reddy's Laboratories Ltd. sponsored ADR (c)	55,000		1,304,050
Reliance Industries Ltd.	49,372		1,119,848
Tata Steel Ltd.	58,865		726,289
TOTAL INDIA			3,150,187
Ireland - 1.0%
Covidien PLC	51,000		2,578,560
CRH PLC	80,819		1,940,731
Ingersoll-Rand Co. Ltd.	77,800		2,525,388
Paddy Power PLC (Ireland)	61,400		2,030,919
Warner Chilcott PLC (a)	37,000		1,011,210
TOTAL IRELAND			10,086,808
Israel - 1.3%
Israel Chemicals Ltd.	81,400		1,077,611
Teva Pharmaceutical Industries Ltd. sponsored ADR	205,200		11,638,944
TOTAL ISRAEL			12,716,555
Italy - 0.8%
Fiat SpA (a)	285,800		3,581,503
Intesa Sanpaolo SpA	304,069		1,157,439
Mediaset SpA	174,800		1,326,826
Saipem SpA	67,244		2,177,012
TOTAL ITALY			8,242,780
Japan - 10.2%
ABC-Mart, Inc.	17,900		553,240
Asics Corp.	155,000		1,535,061
	Shares		Value
Canon, Inc.	102,350		$ 4,000,442
Denso Corp.	86,400		2,550,748
Don Quijote Co. Ltd.	34,200		768,714
Fanuc Ltd.	11,700		1,122,433
Goldcrest Co. Ltd.	23,480		660,936
Honda Motor Co. Ltd.	86,900		2,944,801
Japan Tobacco, Inc.	1,103		3,995,580
JFE Holdings, Inc.	42,500		1,487,759
JSR Corp.	126,300		2,494,659
JTEKT Corp.	139,800		1,596,697
Keyence Corp.	10,700		2,469,048
Kirin Holdings Co. Ltd.	175,000		2,673,369
Konica Minolta Holdings, Inc.	125,000		1,279,495
Kubota Corp.	158,000		1,422,998
Mazda Motor Corp. (a)	741,000		2,011,133
Misumi Group, Inc.	46,300		807,314
Mitsubishi Corp.	107,700		2,609,282
Mitsubishi UFJ Financial Group, Inc.	1,082,000		5,567,741
Mitsui & Co. Ltd.	190,800		2,815,394
Mitsui Sumitomo Insurance Group Holdings, Inc.	31,400		787,870
Mizuho Financial Group, Inc.	312,200		605,240
NHK Spring Co. Ltd.	68,000		593,597
Nichi-iko Pharmaceutical Co. Ltd.	33,000		1,008,973
Nissan Motor Co. Ltd. (a)	161,000		1,308,668
Nitori Co. Ltd.	5,400		409,172
Nomura Holdings, Inc.	227,100		1,697,770
NSK Ltd.	271,000		1,972,383
Omron Corp.	221,200		4,408,317
ORIX Corp.	59,420		4,476,083
Rakuten, Inc.	4,389		3,593,077
Ricoh Co. Ltd.	187,000		2,680,603
Sawai Pharmaceutical Co. Ltd.	9,100		600,820
Shin-Etsu Chemical Co., Ltd.	61,800		3,238,219
SMC Corp.	10,700		1,295,569
SOFTBANK CORP.	165,100		4,208,431
Sony Corp.	68,100		2,271,121
Sumco Corp.	112,200		1,936,497
Sumitomo Mitsui Financial Group, Inc.	116,800		3,797,585
THK Co. Ltd.	95,800		1,900,718
Tokio Marine Holdings, Inc.	96,800		2,616,506
Tokyo Electron Ltd.	74,400		4,549,551
Toshiba Corp. (a)	527,000		2,901,506
Toyota Motor Corp.	99,800		3,838,446
TOTAL JAPAN			102,063,566
Korea (South) - 0.8%
Kia Motors Corp. (a)	79,390		1,339,265
NHN Corp. (a)	8,222		1,227,376
Samsung Electronics Co. Ltd.	4,854		3,283,748
Shinhan Financial Group Co. Ltd. (a)	58,350		2,042,430
TOTAL KOREA (SOUTH)			7,892,819
Common Stocks - continued
	Shares		Value
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A (c)	93,400		$ 3,612,712
Millicom International Cellular SA	15,000		1,069,800
TOTAL LUXEMBOURG			4,682,512
Netherlands - 2.1%
Akzo Nobel NV	19,929		1,186,266
ASML Holding NV:
(Netherlands)	76,700		2,408,767
(NY Shares)	21,800		681,250
Gemalto NV (a)	46,834		1,859,193
ING Groep NV (Certificaten Van Aandelen) unit (a)	149,900		1,403,708
James Hardie Industries NV unit (a)	309,021		2,049,389
Koninklijke Philips Electronics NV	173,000		5,224,091
Randstad Holdings NV (a)	110,075		5,282,589
Royal DSM NV	15,853		738,848
TNT NV	13,000		373,195
TOTAL NETHERLANDS			21,207,296
Netherlands Antilles - 0.1%
Schlumberger Ltd.	16,800		1,066,128
Nigeria - 0.0%
Guaranty Trust Bank PLC GDR (Reg. S)	27,300		206,028
Norway - 0.5%
Aker Solutions ASA	76,600		1,022,217
DnB NOR ASA (a)	201,000		2,269,755
Pronova BioPharma ASA (a)	250,800		737,939
Sevan Marine ASA (a)	426,000		613,171
TOTAL NORWAY			4,643,082
Singapore - 0.3%
Avago Technologies Ltd.	120,000		2,085,600
Keppel Corp. Ltd.	234,000		1,392,768
TOTAL SINGAPORE			3,478,368
South Africa - 0.4%
African Rainbow Minerals Ltd.	67,500		1,487,681
AngloGold Ashanti Ltd. sponsored ADR	40,100		1,431,169
Naspers Ltd. Class N	30,800		1,090,966
TOTAL SOUTH AFRICA			4,009,816
Spain - 1.4%
Banco Bilbao Vizcaya Argentaria SA	146,424		2,231,943
Banco Santander SA	304,037		4,311,388
NH Hoteles SA (a)	79,900		394,243
Telefonica SA	299,667		7,178,426
TOTAL SPAIN			14,116,000
Sweden - 0.6%
Elekta AB (B Shares)	134,000		3,143,456
Intrum Justitia AB	57,100		695,129
	Shares		Value
Modern Times Group MTG AB (B Shares)	34,200		$ 1,568,295
Skandinaviska Enskilda Banken AB (A Shares) (a)	87,000		515,230
TOTAL SWEDEN			5,922,110
Switzerland - 4.2%
Actelion Ltd. (Reg.) (a)	35,748		1,891,232
Adecco SA (Reg.)	27,733		1,494,207
BB BIOTECH AG	19,114		1,313,290
Nestle SA (Reg.)	174,658		8,278,701
Nobel Biocare Holding AG (Switzerland)	75,420		2,218,295
Novartis AG (Reg.)	105,757		5,659,309
Partners Group Holding	9,538		1,183,454
Roche Holding AG (participation certificate)	43,521		7,301,217
Sonova Holding AG Class B	29,611		3,664,770
Swiss Reinsurance Co. (Reg.)	48,328		2,089,114
Syngenta AG (Switzerland)	2,100		537,381
The Swatch Group AG (Bearer)	4,320		1,129,240
UBS AG (For. Reg.) (a)	227,485		2,966,718
Zurich Financial Services AG (Reg.)	9,226		1,961,467
TOTAL SWITZERLAND			41,688,395
Taiwan - 0.3%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	310,350		1,305,868
MediaTek, Inc.	132,000		2,147,349
TOTAL TAIWAN			3,453,217
Thailand - 0.1%
Bangkok Bank Ltd. PCL (For. Reg.)	396,900		1,345,322
United Kingdom - 11.0%
Aberdeen Asset Management PLC	1,000,938		1,969,754
Aegis Group PLC	435,400		828,293
Anglo American PLC (United Kingdom) (a)	74,318		2,726,720
Babcock International Group PLC	145,600		1,300,123
Barclays PLC	1,062,179		4,539,622
BG Group PLC	267,888		4,924,647
BG Group PLC sponsored ADR	10,900		1,003,018
BHP Billiton PLC	232,816		6,829,506
BP PLC	928,300		8,660,809
British American Tobacco PLC sponsored ADR	13,000		865,020
British Land Co. PLC	125,728		872,392
Carphone Warehouse Group PLC	884,358		2,683,507
Cookson Group PLC (a)	82,570		559,715
Hays PLC	468,790		823,980
HSBC Holdings PLC (United Kingdom) (Reg.)	1,081,242		11,574,945
IG Group Holdings PLC	288,329		1,852,825
Imperial Tobacco Group PLC	125,606		4,050,392
InterContinental Hotel Group PLC	115,278		1,648,579
International Personal Finance PLC	517,515		1,810,820
Johnson Matthey PLC	56,210		1,306,740
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Kesa Electricals PLC	352,300		$ 721,939
Lloyds TSB Group PLC	2,279,654		1,832,652
Man Group PLC	567,815		2,128,017
Misys PLC (a)	118,700		405,388
Mothercare PLC	23,700		242,397
National Grid PLC	98,300		987,269
Prudential PLC	273,326		2,503,238
Reckitt Benckiser Group PLC	88,541		4,589,800
Rio Tinto PLC (Reg.)	154,740		7,545,680
Royal Dutch Shell PLC Class B	281,539		7,489,088
Schroders PLC	117,800		2,327,930
Segro PLC	225,300		1,119,056
Serco Group PLC	281,651		2,238,735
SSL International PLC	264,504		3,277,555
Standard Chartered PLC (United Kingdom)	96,936		2,232,727
Taylor Wimpey PLC (a)	2,421,144		1,487,177
Ultra Electronics Holdings PLC	32,400		655,348
Unilever PLC	76,100		2,314,055
Vodafone Group PLC sponsored ADR	47,212		1,013,170
Wolseley PLC (a)	78,760		1,732,736
Xstrata PLC (a)	101,976		1,654,647
TOTAL UNITED KINGDOM			109,330,011
United States of America - 43.7%
3M Co.	27,000		2,173,230
Advanced Micro Devices, Inc. (a)	98,000		731,080
AGA Medical Holdings, Inc.	7,000		100,310
AGCO Corp. (a)	36,000		1,112,760
Agilent Technologies, Inc.	114,000		3,195,420
Allegheny Technologies, Inc.	44,000		1,797,400
Amazon.com, Inc. (a)	47,800		5,994,598
American Express Co.	488,200		18,385,612
Anadarko Petroleum Corp.	131,000		8,355,180
Apple, Inc. (a)	97,600		18,750,912
Applied Micro Circuits Corp. (a)	185,000		1,356,050
Arena Resources, Inc. (a)	51,000		1,955,340
AsiaInfo Holdings, Inc. (a)	27,400		654,860
Baker Hughes, Inc.	67,000		3,033,760
Bank of America Corp.	441,000		6,694,380
Berkshire Hathaway, Inc. Class B (a)	64,000		4,891,520
BioMarin Pharmaceutical, Inc. (a)	49,000		952,070
BMC Software, Inc. (a)	60,000		2,318,400
Bruker BioSciences Corp. (a)	83,000		1,018,410
Bucyrus International, Inc. Class A	18,000		942,840
CareFusion Corp. (a)	133,000		3,424,750
Celanese Corp. Class A	394,460		11,478,786
Central European Distribution Corp. (a)	67,600		2,166,580
Cerner Corp. (a)	20,000		1,513,000
Charles Schwab Corp.	192,000		3,511,680
CIGNA Corp.	241,000		8,138,570
Cisco Systems, Inc. (a)	278,700		6,262,389
Citrix Systems, Inc. (a)	196,000		8,143,800
	Shares		Value
Cliffs Natural Resources, Inc.	5,000		$ 199,750
CME Group, Inc.	5,300		1,520,146
Cognizant Technology Solutions Corp. Class A (a)	38,000		1,659,080
Comerica, Inc.	352,000		12,147,520
CSX Corp.	53,000		2,271,580
Cummins, Inc.	236,800		10,693,888
Deere & Co.	18,000		899,100
Dendreon Corp. (a)	65,000		1,800,500
Diamond Foods, Inc.	37,800		1,357,776
DineEquity, Inc. (a)	40,000		909,600
Dow Chemical Co.	75,000		2,031,750
Drew Industries, Inc. (a)	13,000		241,800
DSW, Inc. Class A (a)	15,000		361,500
Eaton Corp.	32,000		1,959,680
eBay, Inc. (a)	78,000		1,795,560
EMC Corp. (a)	50,000		833,500
Estee Lauder Companies, Inc. Class A	126,000		6,617,520
ev3, Inc. (a)	46,000		670,680
Express Scripts, Inc. (a)	29,000		2,431,940
F5 Networks, Inc. (a)	9,000		444,870
Fiserv, Inc. (a)	13,000		585,520
Fluor Corp.	59,000		2,675,060
Franklin Resources, Inc.	16,000		1,584,480
G-III Apparel Group Ltd. (a)	12,600		219,366
General Electric Co.	163,000		2,621,040
Genworth Financial, Inc. Class A (a)	50,000		692,000
Google, Inc. Class A (a)	18,200		9,635,444
Group 1 Automotive, Inc. (a)	5,000		145,000
Harley-Davidson, Inc.	10,000		227,400
Hewitt Associates, Inc. Class A (a)	28,000		1,105,440
Hewlett-Packard Co.	117,000		5,507,190
ImmunoGen, Inc. (a)	45,523		318,206
Informatica Corp. (a)	112,000		2,653,280
International Coal Group, Inc. (a)	32,000		114,240
iRobot Corp. (a)	156,000		2,464,800
J. Crew Group, Inc. (a)	18,000		705,780
J.B. Hunt Transport Services, Inc.	20,000		613,200
Jacobs Engineering Group, Inc. (a)	57,000		2,154,030
Johnson Controls, Inc.	55,419		1,542,311
JPMorgan Chase & Co.	203,400		7,920,396
King Pharmaceuticals, Inc. (a)	30,000		360,300
Lam Research Corp. (a)	98,000		3,234,980
Life Technologies Corp. (a)	16,000		795,360
Lithia Motors, Inc. Class A (sub. vtg.) (a)	13,000		101,400
Mako Surgical Corp. (a)(c)	146,500		1,681,820
Mariner Energy, Inc. (a)	42,700		617,015
Medco Health Solutions, Inc. (a)	34,000		2,090,320
Merck & Co., Inc.	449,000		17,142,820
Micromet, Inc. (a)	100,000		777,000
Microsoft Corp.	630,000		17,753,400
Micrus Endovascular Corp. (a)	7,000		117,460
Monsanto Co.	62,000		4,704,560
Morgan Stanley	97,400		2,608,372
Common Stocks - continued
	Shares		Value
United States of America - continued
National Oilwell Varco, Inc.	15,000		$ 613,500
NetApp, Inc. (a)	36,000		1,048,680
News Corp. Class B (c)	76,000		1,115,680
NVIDIA Corp. (a)	31,000		477,090
Occidental Petroleum Corp.	172,000		13,474,480
Peabody Energy Corp.	222,000		9,350,640
Pfizer, Inc.	411,000		7,669,260
Philip Morris International, Inc.	56,000		2,548,560
Pioneer Drilling Co. (a)	13,000		103,350
Plains Exploration & Production Co. (a)	65,000		2,167,750
PMC-Sierra, Inc. (a)	71,000		564,450
Polo Ralph Lauren Corp. Class A	16,000		1,312,000
Precision Castparts Corp.	52,000		5,473,000
Prudential Financial, Inc.	25,000		1,249,750
Quanex Building Products Corp.	13,000		209,040
Rackspace Hosting, Inc. (a)	16,000		291,520
RadioShack Corp.	20,000		390,400
Red Hat, Inc. (a)	68,000		1,850,960
Regal-Beloit Corp.	57,200		2,711,280
RSC Holdings, Inc. (a)	43,000		308,740
Salesforce.com, Inc. (a)	7,000		444,850
SanDisk Corp. (a)	13,000		330,460
Schweitzer-Mauduit International, Inc.	27,000		2,031,480
Smith International, Inc.	69,000		2,092,080
Solera Holdings, Inc.	68,000		2,251,480
Starbucks Corp. (a)	203,000		4,423,370
Stoneridge, Inc. (a)	32,000		223,360
Strayer Education, Inc.	9,100		1,890,798
SVB Financial Group (a)	19,000		824,410
Taleo Corp. Class A (a)	39,400		800,214
TECO Energy, Inc.	310,000		4,826,700
Teradyne, Inc. (a)(c)	543,000		5,071,620
Terra Industries, Inc.	101,300		3,201,080
TETRA Technologies, Inc. (a)	110,900		1,160,014
The Coca-Cola Co.	42,600		2,311,050
The Stanley Works	12,000		615,000
The Walt Disney Co.	156,000		4,609,800
Thor Industries, Inc.	27,300		866,775
Titanium Metals Corp. (a)	52,000		604,760
TJX Companies, Inc.	36,000		1,368,360
Unifirst Corp.	7,000		351,680
Union Pacific Corp.	405,500		24,532,733
United Rentals, Inc. (a)	15,000		120,150
Viacom, Inc. Class B (non-vtg.) (a)	214,100		6,238,874
Visa, Inc. Class A	34,700		2,846,441
Walgreen Co.	197,000		7,101,850
Watson Pharmaceuticals, Inc. (a)	33,000		1,266,210
WebMD Health Corp. (a)	71,660		2,793,307
Wells Fargo & Co.	370,700		10,539,001
	Shares		Value
WMS Industries, Inc. (a)	176,000		$ 6,526,080
Wyndham Worldwide Corp.	215,370		4,520,616
TOTAL UNITED STATES OF AMERICA			435,085,150
TOTAL COMMON STOCKS (Cost $918,070,960)		969,888,739
Nonconvertible Preferred Stocks - 0.4%
Germany - 0.2%
ProSiebenSat.1 Media AG	104,500		1,406,472
Italy - 0.2%
Intesa Sanpaolo SpA	809,900		2,375,350
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $4,356,827)		3,781,822

Convertible Bonds - 0.4%
	Principal Amount
Bermuda - 0.2%
Ingersoll-Rand Global Holding Co. Ltd. 4.5% 4/15/12	$ 890,000		1,669,907
United States of America - 0.2%
Hertz Global Holdings, Inc. 5.25% 6/1/14	1,340,000		1,945,835
James River Coal Co. 4.5% 12/1/15 (d)	440,000		389,620
TOTAL UNITED STATES OF AMERICA			2,335,455
TOTAL CONVERTIBLE BONDS (Cost $2,833,792)		4,005,362

Money Market Funds - 2.1%
	Shares
Fidelity Cash Central Fund, 0.17% (e)	8,199,113		8,199,113
Fidelity Securities Lending Cash Central Fund, 0.18% (b)(e)	12,868,650		12,868,650
TOTAL MONEY MARKET FUNDS (Cost $21,067,763)		21,067,763

TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $946,329,342) 998,743,686

NET OTHER ASSETS - (0.3)%		(2,586,266)
NET ASSETS - 100%	$ 996,157,420

Legend

(a) Non-income producing

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

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

(d) 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 $389,620 or 0.0% of net assets.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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	$ 4,703
Fidelity Securities Lending Cash Central Fund	43,693
Total	$ 48,396

Other Information

The following is a summary of the inputs used, as of January 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United States of America	$ 435,085,150	$ 435,085,150	$ -	$ -
United Kingdom	109,330,011	2,881,208	106,448,803	-
Japan	102,063,566	80,434,577	21,628,989	-
France	49,107,199	-	49,107,199	-
Switzerland	41,688,395	-	41,688,395	-
Germany	36,012,496	-	36,012,496	-
Netherlands	21,207,296	2,730,639	18,476,657	-
Australia	17,753,149	17,753,149	-	-
Spain	14,116,000	-	14,116,000	-
Other	147,307,299	90,809,354	56,497,945	-
Corporate Bonds	4,005,362	-	4,005,362	-
Money Market Funds	21,067,763	21,067,763	-	-
Total Investments in Securities:	$ 998,743,686	$ 650,761,840	$ 347,981,846	$ -

Income Tax Information

At January 31, 2010, the cost of investment securities for income tax purposes was $963,985,730. Net unrealized appreciation aggregated $34,757,956, of which $102,649,877 related to appreciated investment securities and $67,891,921 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security events arise, comparisons to the valuation of American Depository Receipts, futures contracts, Exchange traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated quotations received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

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

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

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Investment 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 Investment Trust

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer
Date:	April 1, 2010

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/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer
Date:	April 1, 2010

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer
Date:	April 1, 2010

EX-99.CERT

Exhibit EX-99.CERT

I, Kenneth B. Robins, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 1, 2010

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Christine Reynolds, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 1, 2010

/s/Christine Reynolds

Christine Reynolds

Chief Financial Officer