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)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Scott C. Goebel, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-563-7000
Date of fiscal year end: |
October 31 |
|
|
Date of reporting period: |
January 31, 2015 |
Item 1. Schedule of Investments
Quarterly Holdings Report
for
Fidelity ® Canada Fund
January 31, 2015
1.813011.110
CAN-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 97.9% |
|||
Shares |
Value |
||
CONSUMER DISCRETIONARY - 2.6% |
|||
Hotels, Restaurants & Leisure - 0.1% |
|||
Pizza Pizza Royalty Corp. |
179,600 |
$ 2,063,556 |
|
Media - 0.6% |
|||
ITE Group PLC |
976,800 |
1,923,667 |
|
Quebecor, Inc. Class B (sub. vtg.) |
371,700 |
9,316,633 |
|
|
11,240,300 |
||
Specialty Retail - 0.8% |
|||
AutoCanada, Inc. |
192,800 |
4,912,933 |
|
RONA, Inc. |
1,072,700 |
10,797,067 |
|
|
15,710,000 |
||
Textiles, Apparel & Luxury Goods - 1.1% |
|||
Gildan Activewear, Inc. |
347,095 |
20,262,459 |
|
TOTAL CONSUMER DISCRETIONARY |
49,276,315 |
||
CONSUMER STAPLES - 8.1% |
|||
Food & Staples Retailing - 6.5% |
|||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) |
1,055,500 |
41,357,791 |
|
George Weston Ltd. |
357,300 |
28,320,812 |
|
Jean Coutu Group, Inc. Class A (sub. vtg.) |
1,200,800 |
24,087,819 |
|
Metro, Inc. Class A (sub. vtg.) |
215,965 |
17,090,927 |
|
North West Co., Inc. |
580,000 |
12,123,082 |
|
|
122,980,431 |
||
Food Products - 0.9% |
|||
Aryzta AG |
52,110 |
3,924,424 |
|
Mead Johnson Nutrition Co. Class A |
142,200 |
14,005,278 |
|
|
17,929,702 |
||
Tobacco - 0.7% |
|||
British American Tobacco PLC (United Kingdom) |
218,300 |
12,315,618 |
|
TOTAL CONSUMER STAPLES |
153,225,751 |
||
ENERGY - 22.1% |
|||
Energy Equipment & Services - 1.0% |
|||
Pason Systems, Inc. |
656,100 |
9,247,463 |
|
ZCL Composites, Inc. (e) |
1,955,400 |
9,048,361 |
|
|
18,295,824 |
||
Oil, Gas & Consumable Fuels - 21.1% |
|||
ARC Resources Ltd. (d) |
1,329,400 |
24,062,485 |
|
Canadian Natural Resources Ltd. |
921,398 |
26,713,073 |
|
Enbridge, Inc. |
1,883,100 |
91,213,351 |
|
Imperial Oil Ltd. |
1,421,900 |
52,861,066 |
|
Keyera Corp. |
459,102 |
27,097,387 |
|
Painted Pony Petroleum Ltd. (a) |
972,700 |
5,258,872 |
|
Parkland Fuel Corp. |
619,700 |
10,675,402 |
|
Peyto Exploration & Development Corp. |
462,000 |
11,670,890 |
|
PrairieSky Royalty Ltd. (d) |
311,863 |
6,717,314 |
|
|
|||
Shares |
Value |
||
Spartan Energy Corp. (a) |
4,020,500 |
$ 8,258,051 |
|
Suncor Energy, Inc. |
3,448,500 |
102,855,237 |
|
Vermilion Energy, Inc. (d) |
383,400 |
16,887,462 |
|
Whitecap Resources, Inc. |
1,687,800 |
16,483,511 |
|
|
400,754,101 |
||
TOTAL ENERGY |
419,049,925 |
||
FINANCIALS - 29.5% |
|||
Banks - 17.9% |
|||
Bank of Montreal (d) |
77,100 |
4,425,044 |
|
Bank of Nova Scotia |
669,400 |
32,166,179 |
|
National Bank of Canada |
1,092,900 |
38,024,010 |
|
Royal Bank of Canada |
2,413,800 |
136,276,074 |
|
The Toronto-Dominion Bank |
3,240,100 |
129,022,633 |
|
|
339,913,940 |
||
Capital Markets - 0.4% |
|||
Gluskin Sheff + Associates, Inc. |
315,900 |
6,583,011 |
|
Insurance - 9.7% |
|||
Fairfax Financial Holdings Ltd. (sub. vtg.) |
66,700 |
35,431,258 |
|
Intact Financial Corp. |
680,225 |
45,458,965 |
|
Manulife Financial Corp. |
4,458,300 |
71,504,017 |
|
Power Corp. of Canada (sub. vtg.) |
1,335,200 |
32,195,269 |
|
|
184,589,509 |
||
Real Estate Investment Trusts - 1.5% |
|||
Allied Properties (REIT) |
455,700 |
14,344,849 |
|
H&R REIT/H&R Finance Trust |
725,000 |
13,932,872 |
|
|
28,277,721 |
||
TOTAL FINANCIALS |
559,364,181 |
||
HEALTH CARE - 4.0% |
|||
Health Care Equipment & Supplies - 0.1% |
|||
Novadaq Technologies, Inc. (a) |
93,587 |
1,331,743 |
|
Pharmaceuticals - 3.9% |
|||
Actavis PLC (a) |
32,427 |
8,643,093 |
|
Valeant Pharmaceuticals International (Canada) (a) |
410,471 |
65,629,490 |
|
|
74,272,583 |
||
TOTAL HEALTH CARE |
75,604,326 |
||
INDUSTRIALS - 8.5% |
|||
Aerospace & Defense - 0.4% |
|||
Bombardier, Inc. Class B (sub. vtg.) |
2,746,600 |
6,268,309 |
|
Airlines - 0.8% |
|||
WestJet Airlines Ltd. |
653,300 |
15,691,128 |
|
Professional Services - 0.7% |
|||
Stantec, Inc. |
527,500 |
12,972,673 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
INDUSTRIALS - continued |
|||
Road & Rail - 6.6% |
|||
Canadian National Railway Co. |
1,573,400 |
$ 103,663,373 |
|
TransForce, Inc. |
960,600 |
21,801,923 |
|
|
125,465,296 |
||
TOTAL INDUSTRIALS |
160,397,406 |
||
INFORMATION TECHNOLOGY - 5.3% |
|||
Electronic Equipment & Components - 0.6% |
|||
Avigilon Corp. (a)(d) |
724,700 |
11,035,606 |
|
IT Services - 1.9% |
|||
Cap Gemini SA |
69,600 |
5,078,301 |
|
CGI Group, Inc. Class A (sub. vtg.) (a) |
791,800 |
31,374,148 |
|
|
36,452,449 |
||
Software - 2.8% |
|||
Constellation Software, Inc. |
99,200 |
27,486,683 |
|
Open Text Corp. |
458,614 |
26,007,496 |
|
|
53,494,179 |
||
TOTAL INFORMATION TECHNOLOGY |
100,982,234 |
||
MATERIALS - 11.5% |
|||
Chemicals - 1.8% |
|||
Agrium, Inc. |
103,500 |
11,042,335 |
|
Potash Corp. of Saskatchewan, Inc. |
601,600 |
21,901,327 |
|
|
32,943,662 |
||
Containers & Packaging - 1.7% |
|||
CCL Industries, Inc. Class B |
231,600 |
23,940,080 |
|
Winpak Ltd. |
290,000 |
8,626,741 |
|
|
32,566,821 |
||
Metals & Mining - 6.0% |
|||
Agnico Eagle Mines Ltd. (Canada) |
474,700 |
16,003,894 |
|
B2Gold Corp. (a) |
3,605,027 |
7,092,601 |
|
Eldorado Gold Corp. |
2,761,300 |
13,255,631 |
|
Freeport-McMoRan, Inc. |
357,200 |
6,004,532 |
|
Labrador Iron Ore Royalty Corp. |
437,200 |
5,966,041 |
|
Lundin Mining Corp. (a) |
2,595,200 |
9,231,372 |
|
Randgold Resources Ltd. |
167,000 |
14,333,549 |
|
Royal Gold, Inc. |
316,200 |
22,911,852 |
|
Silver Wheaton Corp. |
253,700 |
5,827,893 |
|
Tahoe Resources, Inc. |
580,600 |
7,922,880 |
|
Torex Gold Resources, Inc. (a) |
4,895,000 |
5,585,701 |
|
|
114,135,946 |
||
|
|||
Shares |
Value |
||
Paper & Forest Products - 2.0% |
|||
Stella-Jones, Inc. |
343,900 |
$ 9,818,755 |
|
West Fraser Timber Co. Ltd. |
494,300 |
28,389,088 |
|
|
38,207,843 |
||
TOTAL MATERIALS |
217,854,272 |
||
TELECOMMUNICATION SERVICES - 6.3% |
|||
Diversified Telecommunication Services - 3.4% |
|||
TELUS Corp. |
801,500 |
27,494,597 |
|
TELUS Corp. |
1,100,000 |
37,734,320 |
|
|
65,228,917 |
||
Wireless Telecommunication Services - 2.9% |
|||
Rogers Communications, Inc. Class B (non-vtg.) (d) |
1,537,300 |
54,659,018 |
|
TOTAL TELECOMMUNICATION SERVICES |
119,887,935 |
||
TOTAL COMMON STOCKS (Cost $1,619,786,275) |
|
||
Money Market Funds - 4.2% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
34,736,699 |
34,736,699 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
43,925,494 |
43,925,494 |
|
TOTAL MONEY MARKET FUNDS (Cost $78,662,193) |
|
||
TOTAL INVESTMENT PORTFOLIO - 102.1% (Cost $1,698,448,468) |
1,934,304,538 |
||
NET OTHER ASSETS (LIABILITIES) - (2.1)% |
(39,761,501) |
||
NET ASSETS - 100% |
$ 1,894,543,037 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 9,991 |
Fidelity Securities Lending Cash Central Fund |
622,541 |
Total |
$ 632,532 |
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, |
ZCL Composites, Inc. |
$ 5,395,486 |
$ 6,554,081 |
$ - |
$ 57,166 |
$ 9,048,361 |
Total |
$ 5,395,486 |
$ 6,554,081 |
$ 0 |
$ 57,166 |
$ 9,048,361 |
Other Information |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 49,276,315 |
$ 49,276,315 |
$ - |
$ - |
Consumer Staples |
153,225,751 |
140,910,133 |
12,315,618 |
- |
Energy |
419,049,925 |
419,049,925 |
- |
- |
Financials |
559,364,181 |
559,364,181 |
- |
- |
Health Care |
75,604,326 |
75,604,326 |
- |
- |
Industrials |
160,397,406 |
160,397,406 |
- |
- |
Information Technology |
100,982,234 |
100,982,234 |
- |
- |
Materials |
217,854,272 |
203,520,723 |
14,333,549 |
- |
Telecommunication Services |
119,887,935 |
119,887,935 |
- |
- |
Money Market Funds |
78,662,193 |
78,662,193 |
- |
- |
Total Investments in Securities: |
$ 1,934,304,538 |
$ 1,907,655,371 |
$ 26,649,167 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,699,395,504. Net unrealized appreciation aggregated $234,909,034, of which $374,655,401 related to appreciated investment securities and $139,746,367 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® China Region Fund
January 31, 2015
1.813032.110
HKC-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 97.9% |
|||
Shares |
Value |
||
CONSUMER DISCRETIONARY - 15.7% |
|||
Auto Components - 2.1% |
|||
Fuyao Group Glass Industries Co. Ltd. |
7,571,859 |
$ 15,927,945 |
|
Weifu High-Technology Co. Ltd. (B Shares) |
3,749,838 |
13,702,111 |
|
|
29,630,056 |
||
Automobiles - 2.4% |
|||
Chongqing Changan Automobile Co. Ltd. (B Shares) |
9,233,786 |
23,096,825 |
|
Geely Automobile Holdings Ltd. |
28,135,000 |
11,526,597 |
|
|
34,623,422 |
||
Diversified Consumer Services - 0.8% |
|||
Perfect Shape (PRC) Holdings Ltd. |
43,616,000 |
11,938,118 |
|
Hotels, Restaurants & Leisure - 1.5% |
|||
500.com Ltd. sponsored ADR |
529,350 |
9,062,472 |
|
Melco International Development Ltd. |
323,000 |
643,117 |
|
Sands China Ltd. |
2,527,400 |
12,304,264 |
|
|
22,009,853 |
||
Household Durables - 2.2% |
|||
Haier Electronics Group Co. Ltd. |
681,000 |
1,828,819 |
|
Qingdao Haier Co. Ltd. |
1,549,911 |
4,912,685 |
|
Techtronic Industries Co. Ltd. |
7,628,000 |
24,911,276 |
|
|
31,652,780 |
||
Internet & Catalog Retail - 2.4% |
|||
Ctrip.com International Ltd. sponsored ADR (a) |
155,500 |
7,394,803 |
|
Jumei International Holding Ltd. sponsored ADR (d) |
562,000 |
7,289,140 |
|
Qunar Cayman Islands Ltd. sponsored ADR (a)(d) |
506,768 |
14,868,573 |
|
Vipshop Holdings Ltd. ADR (a) |
200,000 |
4,478,000 |
|
|
34,030,516 |
||
Media - 2.5% |
|||
Naspers Ltd. Class N |
191,000 |
27,554,024 |
|
Poly Culture Group Corp. Ltd. (H Shares) |
2,978,200 |
9,009,324 |
|
|
36,563,348 |
||
Specialty Retail - 0.5% |
|||
International Housewares Retail Co. Ltd. |
11,516,000 |
2,902,757 |
|
Oriental Watch Holdings Ltd. |
22,471,000 |
3,992,577 |
|
|
6,895,334 |
||
Textiles, Apparel & Luxury Goods - 1.3% |
|||
Best Pacific International Holdings Ltd. |
23,958,000 |
11,885,941 |
|
Sitoy Group Holdings Ltd. |
9,500,000 |
6,270,053 |
|
|
18,155,994 |
||
TOTAL CONSUMER DISCRETIONARY |
225,499,421 |
||
CONSUMER STAPLES - 1.0% |
|||
Food Products - 1.0% |
|||
Inner Mongoli Yili Industries Co. Ltd. |
3,499,971 |
15,180,858 |
|
|
|||
Shares |
Value |
||
FINANCIALS - 41.1% |
|||
Banks - 16.1% |
|||
Bank of China Ltd. (H Shares) |
102,018,000 |
$ 56,952,443 |
|
BNP Paribas Arbitrage Issuance BV ELS warrants 10/8/15 (a)(f) |
3,090,600 |
14,745,767 |
|
China Construction Bank Corp. |
72,378,000 |
57,937,204 |
|
China Merchants Bank Co. Ltd. |
10,000,000 |
22,319,994 |
|
Hangzhou Hikvision Digital Technology Co. Ltd. ELS (BNP Paribas Warrant Program) warrants 11/27/17 (a)(f) |
1,772,000 |
7,505,733 |
|
Industrial & Commercial Bank of China Ltd. (H Shares) |
92,224,000 |
65,767,464 |
|
Kweichow Moutai Co. Ltd. (A Shares) ELS (BNP Paribas Warrant Program) warrants 7/9/15 (a)(f) |
223,520 |
6,292,168 |
|
|
231,520,773 |
||
Capital Markets - 1.6% |
|||
Kweichow Moutai Co. Ltd. (A Shares) ELS (UBS Warrant Programme) warrants 7/9/15 (a)(f) |
305,690 |
8,605,283 |
|
SAIC Motor Corp. Ltd. ELS (UBS Warrant Programme) warrants 9/16/15 (a)(f) |
2,014,600 |
7,249,804 |
|
Shanghai Bestway Marine Engineering Design Co. Ltd. ELS warrants 7/13/17 (a)(f) |
2,008,500 |
7,227,852 |
|
|
23,082,939 |
||
Diversified Financial Services - 2.9% |
|||
Far East Horizon Ltd. |
14,500,000 |
12,354,016 |
|
Hong Kong Exchanges and Clearing Ltd. |
1,275,000 |
29,344,313 |
|
|
41,698,329 |
||
Insurance - 14.4% |
|||
AIA Group Ltd. |
11,077,400 |
64,303,636 |
|
China Life Insurance Co. Ltd. |
4,937,017 |
28,300,909 |
|
China Pacific Insurance Group Co. Ltd. (H Shares) |
7,999,200 |
38,442,257 |
|
New China Life Insurance Co. Ltd. (H Shares) |
3,497,000 |
20,141,255 |
|
People's Insurance Co. of China Group (H Shares) |
50,176,000 |
24,431,192 |
|
Ping An Insurance (Group) Co. of China Ltd. (H Shares) |
3,000,000 |
31,796,800 |
|
|
207,416,049 |
||
Real Estate Management & Development - 6.1% |
|||
China Overseas Land and Investment Ltd. |
4,936,000 |
14,232,903 |
|
Greenland Hong Kong Holdings Ltd. |
10,310,000 |
4,020,382 |
|
Hopson Development Holdings Ltd. (a) |
15,652,000 |
13,876,594 |
|
Longfor Properties Co. Ltd. |
10,000,000 |
13,137,428 |
|
Shimao Property Holdings Ltd. |
6,908,500 |
14,500,949 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
FINANCIALS - continued |
|||
Real Estate Management & Development - continued |
|||
Sunac China Holdings Ltd. |
12,500,000 |
$ 11,190,227 |
|
Wharf Holdings Ltd. |
1,961,000 |
15,886,515 |
|
|
86,844,998 |
||
TOTAL FINANCIALS |
590,563,088 |
||
HEALTH CARE - 8.2% |
|||
Health Care Equipment & Supplies - 1.2% |
|||
Intai Technology Corp. |
1,000,000 |
5,242,475 |
|
Lifetech Scientific Corp. (a) |
58,768,000 |
11,338,429 |
|
|
16,580,904 |
||
Health Care Providers & Services - 1.3% |
|||
Phoenix Healthcare Group Ltd. (d) |
11,342,000 |
19,267,718 |
|
Life Sciences Tools & Services - 1.2% |
|||
WuXi PharmaTech Cayman, Inc. sponsored ADR (a) |
425,700 |
17,070,570 |
|
Pharmaceuticals - 4.5% |
|||
Jiangsu Hengrui Medicine Co. Ltd. |
2,299,908 |
14,875,816 |
|
Lee's Pharmaceutical Holdings Ltd. |
8,290,000 |
12,411,421 |
|
Luye Pharma Group Ltd. |
13,498,500 |
16,110,869 |
|
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H |
1,300,000 |
4,692,280 |
|
Sino Biopharmaceutical Ltd. |
16,312,000 |
16,295,538 |
|
|
64,385,924 |
||
TOTAL HEALTH CARE |
117,305,116 |
||
INDUSTRIALS - 11.5% |
|||
Airlines - 3.3% |
|||
Air China Ltd. (H Shares) |
17,584,000 |
16,870,269 |
|
China Eastern Airlines Corp. Ltd. |
29,780,000 |
15,103,128 |
|
China Southern Airlines Ltd. (H Shares) |
30,048,000 |
16,000,076 |
|
|
47,973,473 |
||
Building Products - 0.6% |
|||
Sunspring Metal Corp. |
4,350,000 |
8,260,017 |
|
Electrical Equipment - 1.7% |
|||
Harbin Electric Machinery Co. Ltd. |
17,000,000 |
12,178,219 |
|
Zhuzhou CSR Times Electric Co. Ltd. |
2,200,000 |
12,272,612 |
|
|
24,450,831 |
||
Machinery - 2.2% |
|||
China CNR Corp. Ltd. (H Shares) (a) |
7,000,000 |
8,964,169 |
|
CSR Corp. Ltd. (H Shares) |
11,689,000 |
14,140,087 |
|
King Slide Works Co. Ltd. |
600,000 |
8,584,387 |
|
|
31,688,643 |
||
|
|||
Shares |
Value |
||
Marine - 1.1% |
|||
China Shipping Development Co. Ltd. |
22,444,000 |
$ 15,968,959 |
|
Road & Rail - 0.5% |
|||
Daqin Railway Co. Ltd. (A Shares) |
4,499,962 |
7,592,811 |
|
Trading Companies & Distributors - 2.1% |
|||
China Aircraft Leasing Group Holdings Ltd. (a) |
5,000,000 |
7,013,301 |
|
Summit Ascent Holdings Ltd. (a)(d) |
41,044,000 |
22,835,193 |
|
|
29,848,494 |
||
TOTAL INDUSTRIALS |
165,783,228 |
||
INFORMATION TECHNOLOGY - 14.3% |
|||
Electronic Equipment & Components - 2.0% |
|||
Largan Precision Co. Ltd. |
176,000 |
14,530,371 |
|
PAX Global Technology Ltd. (a)(d) |
7,500,000 |
7,022,475 |
|
Sunny Optical Technology Group Co. Ltd. (d) |
4,500,000 |
6,825,918 |
|
|
28,378,764 |
||
Internet Software & Services - 3.2% |
|||
58.com, Inc. ADR (a) |
480,000 |
18,465,600 |
|
Alibaba Group Holding Ltd. sponsored ADR |
45,000 |
4,008,600 |
|
Baidu.com, Inc. sponsored ADR (a) |
75,000 |
16,344,000 |
|
Yahoo!, Inc. (a) |
107,700 |
4,737,723 |
|
YY, Inc. ADR (a)(d) |
45,000 |
3,239,100 |
|
|
46,795,023 |
||
Semiconductors & Semiconductor Equipment - 8.1% |
|||
eMemory Technology, Inc. |
390,000 |
4,015,054 |
|
Novatek Microelectronics Corp. |
2,674,000 |
14,602,494 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
17,840,796 |
77,892,421 |
|
Vanguard International Semiconductor Corp. |
11,900,000 |
20,011,554 |
|
|
116,521,523 |
||
Software - 0.6% |
|||
China City Railway Transportation Technology Holdings Co. Ltd. (a) |
32,000,000 |
8,754,981 |
|
Technology Hardware, Storage & Peripherals - 0.4% |
|||
ADLINK Technology, Inc. |
577,000 |
1,401,379 |
|
Advantech Co. Ltd. |
535,000 |
3,966,020 |
|
Axiomtek Co. Ltd. |
148,000 |
326,562 |
|
|
5,693,961 |
||
TOTAL INFORMATION TECHNOLOGY |
206,144,252 |
||
MATERIALS - 4.8% |
|||
Chemicals - 0.3% |
|||
Jintex Corp. Ltd. (e) |
5,000,000 |
4,266,446 |
|
Construction Materials - 3.4% |
|||
Asia Cement (China) Holdings Corp. |
6,409,500 |
3,271,285 |
|
BBMG Corp. (H Shares) |
20,000,000 |
17,502,719 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
MATERIALS - continued |
|||
Construction Materials - continued |
|||
China Shanshui Cement Group Ltd. (d) |
20,656,000 |
$ 9,071,207 |
|
West China Cement Ltd. |
169,600,000 |
18,949,087 |
|
|
48,794,298 |
||
Containers & Packaging - 1.1% |
|||
Greatview Aseptic Pack Co. Ltd. (d) |
36,177,000 |
16,491,187 |
|
TOTAL MATERIALS |
69,551,931 |
||
UTILITIES - 1.3% |
|||
Independent Power Producers & Renewable Electricity Producers - 1.3% |
|||
Beijing Jingneng Clean Energy Co. Ltd. (H Shares) (d) |
18,500,000 |
7,397,805 |
|
China Resources Power Holdings Co. Ltd. |
3,904,000 |
10,931,075 |
|
|
18,328,880 |
||
TOTAL COMMON STOCKS (Cost $1,210,375,634) |
|
||
Convertible Preferred Stocks - 0.4% |
|||
|
|
|
|
INDUSTRIALS - 0.4% |
|||
Professional Services - 0.4% |
|||
Meituan Corp. Series D (g)(h) (Cost $6,268,244) |
991,544 |
|
|
Money Market Funds - 4.1% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
24,683,290 |
24,683,290 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
33,917,710 |
33,917,710 |
|
TOTAL MONEY MARKET FUNDS (Cost $58,601,000) |
|
TOTAL INVESTMENT PORTFOLIO - 102.4% (Cost $1,275,244,878) |
|
NET OTHER ASSETS (LIABILITIES) - (2.4)% |
(34,920,362) |
||
NET ASSETS - 100% |
$ 1,438,305,656 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $51,626,607 or 3.6% of net assets. |
(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(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 $6,268,244 or 0.4% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost |
Meituan Corp. Series D |
1/26/15 |
$ 6,268,244 |
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 |
$ 10,843 |
Fidelity Securities Lending Cash Central Fund |
204,175 |
Total |
$ 215,018 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Jintex Corp. Ltd. |
$ 4,548,561 |
$ - |
$ - |
$ - |
$ 4,266,446 |
Perfect Shape (PRC) Holdings Ltd. |
11,817,466 |
- |
5,065,904 |
406,080 |
- |
Total |
$ 16,366,027 |
$ - |
$ 5,065,904 |
$ 406,080 |
$ 4,266,446 |
Other Information |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 225,499,421 |
$ 43,092,988 |
$ 182,406,433 |
$ - |
Consumer Staples |
15,180,858 |
- |
15,180,858 |
- |
Financials |
590,563,088 |
- |
570,421,833 |
20,141,255 |
Health Care |
117,305,116 |
17,070,570 |
100,234,546 |
- |
Industrials |
172,051,472 |
- |
165,783,228 |
6,268,244 |
Information Technology |
206,144,252 |
46,795,023 |
159,349,229 |
- |
Materials |
69,551,931 |
- |
69,551,931 |
- |
Utilities |
18,328,880 |
- |
10,931,075 |
7,397,805 |
Money Market Funds |
58,601,000 |
58,601,000 |
- |
- |
Total Investments in Securities: |
$ 1,473,226,018 |
$ 165,559,581 |
$ 1,273,859,133 |
$ 33,807,304 |
Valuation Inputs at Reporting Date: |
The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value: |
Investments in Securities: |
|
Equities - Financials |
|
Beginning Balance |
$ - |
Net Realized Gain (Loss) on Investment Securities |
707,455 |
Net Unrealized Gain (Loss) on Investment Securities |
4,982,790 |
Cost of Purchases |
23,709,039 |
Proceeds of Sales |
(9,258,029) |
Amortization/Accretion |
- |
Transfers into Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ 20,141,255 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2015 |
$ 4,982,790 |
Equities - Industrials |
|
Beginning Balance |
$ 28,267,179 |
Net Realized Gain (Loss) on Investment Securities |
- |
Net Unrealized Gain (Loss) on Investment Securities |
- |
Cost of Purchases |
6,268,244 |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers into Level 3 |
- |
Transfers out of Level 3 |
(28,267,179) |
Ending Balance |
$ 6,268,244 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2015 |
$ - |
Other Investments in Securities |
|
Beginning Balance |
$ - |
Net Realized Gain (Loss) on Investment Securities |
- |
Net Unrealized Gain (Loss) on Investment Securities |
(911,157) |
Cost of Purchases |
- |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers into Level 3 |
8,308,962 |
Transfers out of Level 3 |
- |
Ending Balance |
$ 7,397,805 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2015 |
$ (911,157) |
The information used in the above reconciliations 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 into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,280,027,902. Net unrealized appreciation aggregated $193,198,116, of which $236,088,154 related to appreciated investment securities and $42,890,038 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
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. |
The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker. |
Asset Type |
Fair Value |
Valuation |
Unobservable |
Amount or Range/ |
Impact to Valuation |
Equities |
$ 33,807,304 |
Last transaction price |
Transaction price |
$3.10 - $44.65/$28.45 |
Increase |
|
*Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Diversified International Fund
January 31, 2015
1.813063.110
DIF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 93.6% |
|||
Shares |
Value |
||
Argentina - 0.1% |
|||
YPF SA Class D sponsored ADR |
1,482,500 |
$ 34,764,625 |
|
Australia - 1.9% |
|||
Ansell Ltd. |
3,176,450 |
55,755,357 |
|
Australia & New Zealand Banking Group Ltd. |
7,938,541 |
202,651,035 |
|
BHP Billiton Ltd. sponsored ADR (e) |
913,064 |
42,302,255 |
|
CSL Ltd. |
1,716,330 |
116,802,349 |
|
Woodside Petroleum Ltd. |
1,598,725 |
42,460,533 |
|
TOTAL AUSTRALIA |
459,971,529 |
||
Austria - 0.1% |
|||
Andritz AG |
639,500 |
34,686,480 |
|
Bailiwick of Guernsey - 0.1% |
|||
Amdocs Ltd. |
526,800 |
25,381,224 |
|
Bailiwick of Jersey - 2.4% |
|||
Experian PLC |
4,691,072 |
82,880,575 |
|
Shire PLC |
3,288,600 |
240,027,897 |
|
Wolseley PLC |
2,084,162 |
121,234,545 |
|
WPP PLC |
5,644,709 |
124,130,357 |
|
TOTAL BAILIWICK OF JERSEY |
568,273,374 |
||
Belgium - 2.9% |
|||
Anheuser-Busch InBev SA NV |
3,542,330 |
432,044,409 |
|
Arseus NV |
767,400 |
31,365,250 |
|
KBC Groupe SA (a) |
3,522,647 |
189,933,905 |
|
UCB SA |
445,100 |
34,689,358 |
|
TOTAL BELGIUM |
688,032,922 |
||
Bermuda - 0.5% |
|||
BW LPG Ltd. |
3,268,299 |
20,301,281 |
|
Golar LNG Ltd. |
747,100 |
21,187,756 |
|
Noble Group Ltd. |
56,838,000 |
44,461,274 |
|
Travelport Worldwide Ltd. (e) |
2,776,500 |
43,285,635 |
|
TOTAL BERMUDA |
129,235,946 |
||
Canada - 3.4% |
|||
Agrium, Inc. |
513,500 |
54,784,918 |
|
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) |
5,545,181 |
217,277,534 |
|
AutoCanada, Inc. |
405,675 |
10,337,418 |
|
Canadian Natural Resources Ltd. |
775,500 |
22,483,214 |
|
CGI Group, Inc. Class A (sub. vtg.) (a) |
4,284,100 |
169,752,447 |
|
Constellation Software, Inc. |
58,838 |
16,303,039 |
|
Fairfax India Holdings Corp. (a)(f) |
6,426,500 |
62,979,700 |
|
Imperial Oil Ltd. |
1,214,900 |
45,165,559 |
|
Keyera Corp. |
632,200 |
37,314,079 |
|
Painted Pony Petroleum Ltd. (a) |
3,292,770 |
17,802,259 |
|
PrairieSky Royalty Ltd. (e) |
483,800 |
10,420,718 |
|
Suncor Energy, Inc. |
3,180,800 |
94,870,796 |
|
Tourmaline Oil Corp. (a) |
1,320,600 |
36,312,083 |
|
TransForce, Inc. |
1,002,400 |
22,750,622 |
|
TOTAL CANADA |
818,554,386 |
||
|
|||
Shares |
Value |
||
Cayman Islands - 1.8% |
|||
58.com, Inc. ADR (a) |
267,100 |
$ 10,275,337 |
|
Alibaba Group Holding Ltd. sponsored ADR |
734,300 |
65,411,444 |
|
Baidu.com, Inc. sponsored ADR (a) |
238,100 |
51,886,752 |
|
China Modern Dairy Holdings Ltd. (a)(e) |
112,883,000 |
36,444,030 |
|
Melco Crown Entertainment Ltd. sponsored ADR |
3,429,500 |
82,308,000 |
|
PW Medtech Group Ltd. (a) |
74,883,000 |
32,714,326 |
|
Sands China Ltd. |
19,998,800 |
97,361,125 |
|
Tencent Holdings Ltd. |
2,493,100 |
42,050,012 |
|
TOTAL CAYMAN ISLANDS |
418,451,026 |
||
China - 0.3% |
|||
Daqin Railway Co. Ltd. (A Shares) |
24,292,100 |
40,988,196 |
|
Kweichow Moutai Co. Ltd. |
1,397,100 |
39,328,866 |
|
TOTAL CHINA |
80,317,062 |
||
Curacao - 0.2% |
|||
Schlumberger Ltd. |
438,225 |
36,105,358 |
|
Denmark - 2.4% |
|||
A.P. Moller - Maersk A/S Series B |
10,132 |
20,587,585 |
|
Genmab A/S (a) |
1,655,576 |
111,329,651 |
|
Novo Nordisk A/S Series B |
9,148,395 |
407,750,443 |
|
Vestas Wind Systems A/S (a) |
755,822 |
29,671,137 |
|
TOTAL DENMARK |
569,338,816 |
||
Finland - 0.5% |
|||
Nokia Corp. |
8,170,600 |
62,836,378 |
|
Sampo Oyj (A Shares) |
1,371,100 |
66,497,802 |
|
TOTAL FINLAND |
129,334,180 |
||
France - 4.4% |
|||
Air Liquide SA |
776,070 |
98,219,419 |
|
Atos Origin SA |
521,535 |
38,648,560 |
|
AXA SA |
5,983,200 |
141,000,989 |
|
BNP Paribas SA |
2,192,176 |
115,869,107 |
|
Bureau Veritas SA |
1,558,600 |
33,154,929 |
|
Danone SA |
888,400 |
59,621,281 |
|
Dassault Aviation SA (e) |
27,965 |
33,716,100 |
|
LVMH Moet Hennessy - Louis Vuitton SA |
210,805 |
34,183,085 |
|
Numericable Group SA (a) |
1,705,068 |
89,014,780 |
|
Publicis Groupe SA |
1,680,616 |
126,156,953 |
|
Rexel SA |
1,376,400 |
25,818,511 |
|
Sanofi SA |
2,685,061 |
247,401,276 |
|
Tarkett SA |
87,998 |
1,807,778 |
|
TOTAL FRANCE |
1,044,612,768 |
||
Germany - 5.6% |
|||
adidas AG |
418,300 |
28,923,228 |
|
Bayer AG |
2,761,262 |
399,544,948 |
|
Brenntag AG |
929,100 |
50,730,347 |
|
Continental AG |
536,000 |
121,559,976 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - continued |
|||
Deutsche Boerse AG |
157,600 |
$ 12,115,327 |
|
Drillisch AG |
639,100 |
24,915,314 |
|
Fresenius SE & Co. KGaA |
3,835,300 |
219,988,206 |
|
Gerry Weber International AG (Bearer) |
746,100 |
28,880,151 |
|
GfK AG |
583,800 |
23,260,811 |
|
Linde AG |
672,229 |
129,059,229 |
|
OSRAM Licht AG |
986,553 |
45,573,224 |
|
ProSiebenSat.1 Media AG |
1,803,790 |
80,186,042 |
|
SAP AG (e) |
1,941,541 |
126,720,072 |
|
SMA Solar Technology AG (a)(e) |
155,528 |
1,931,456 |
|
Symrise AG |
613,200 |
40,272,278 |
|
TOTAL GERMANY |
1,333,660,609 |
||
Hong Kong - 1.6% |
|||
AIA Group Ltd. |
52,705,600 |
305,952,815 |
|
Galaxy Entertainment Group Ltd. |
13,315,000 |
69,546,642 |
|
Melco International Development Ltd. |
8,627,000 |
17,177,008 |
|
TOTAL HONG KONG |
392,676,465 |
||
India - 2.6% |
|||
Apollo Hospitals Enterprise Ltd. (a) |
2,227,126 |
47,076,068 |
|
Axis Bank Ltd. (a) |
6,699,871 |
63,903,172 |
|
Grasim Industries Ltd. |
90,293 |
6,030,267 |
|
HDFC Bank Ltd. |
10,181,856 |
194,239,585 |
|
Housing Development Finance Corp. Ltd. |
8,291,778 |
168,264,070 |
|
ITC Ltd. (a) |
13,515,862 |
80,049,618 |
|
LIC Housing Finance Ltd. |
3,455,701 |
26,602,742 |
|
Lupin Ltd. |
1,690,873 |
44,247,837 |
|
TOTAL INDIA |
630,413,359 |
||
Indonesia - 0.6% |
|||
PT Bank Central Asia Tbk |
79,833,000 |
83,821,418 |
|
PT Bank Rakyat Indonesia Tbk |
65,258,700 |
59,710,466 |
|
TOTAL INDONESIA |
143,531,884 |
||
Ireland - 2.1% |
|||
Actavis PLC (a) |
629,400 |
167,760,276 |
|
DCC PLC (United Kingdom) |
877,089 |
46,607,401 |
|
Greencore Group PLC |
13,158,900 |
61,085,041 |
|
Perrigo Co. PLC |
560,300 |
85,019,922 |
|
Ryanair Holdings PLC sponsored ADR |
2,052,600 |
135,430,548 |
|
TOTAL IRELAND |
495,903,188 |
||
Israel - 1.4% |
|||
Check Point Software Technologies Ltd. (a) |
1,550,100 |
119,621,217 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
3,793,700 |
215,709,782 |
|
TOTAL ISRAEL |
335,330,999 |
||
Italy - 1.0% |
|||
Intesa Sanpaolo SpA |
24,254,700 |
70,927,101 |
|
|
|||
Shares |
Value |
||
UniCredit SpA |
16,938,567 |
$ 100,200,940 |
|
World Duty Free SpA (a) |
6,188,738 |
68,324,287 |
|
TOTAL ITALY |
239,452,328 |
||
Japan - 15.1% |
|||
ACOM Co. Ltd. (a)(e) |
5,833,000 |
15,868,285 |
|
Astellas Pharma, Inc. |
17,416,700 |
269,007,354 |
|
Coca-Cola Central Japan Co. Ltd. |
667,800 |
11,118,855 |
|
Don Quijote Holdings Co. Ltd. |
2,167,500 |
157,810,387 |
|
Fast Retailing Co. Ltd. |
251,500 |
93,300,452 |
|
Fuji Heavy Industries Ltd. |
985,900 |
35,558,766 |
|
GMO Internet, Inc. |
3,955,700 |
32,660,922 |
|
Hoya Corp. |
8,368,400 |
324,297,228 |
|
Japan Exchange Group, Inc. |
4,633,100 |
107,814,382 |
|
Japan Tobacco, Inc. |
7,284,000 |
198,391,793 |
|
KDDI Corp. |
2,728,900 |
192,630,217 |
|
Keyence Corp. |
517,510 |
241,903,188 |
|
Komatsu Ltd. |
5,016,000 |
98,360,946 |
|
Misumi Group, Inc. |
440,500 |
16,454,179 |
|
Mitsubishi Electric Corp. |
5,347,000 |
61,841,976 |
|
Mitsubishi UFJ Financial Group, Inc. |
41,889,700 |
222,613,183 |
|
NEC Corp. |
47,707,000 |
134,755,831 |
|
NGK Spark Plug Co. Ltd. |
1,337,900 |
39,661,902 |
|
Nippon Telegraph & Telephone Corp. |
844,900 |
50,006,919 |
|
Nitori Holdings Co. Ltd. |
1,087,600 |
61,492,381 |
|
Olympus Corp. (a) |
1,288,700 |
44,568,467 |
|
OMRON Corp. |
2,001,400 |
80,013,293 |
|
ORIX Corp. |
31,283,700 |
359,475,349 |
|
Rakuten, Inc. |
16,165,700 |
223,802,417 |
|
Seven & i Holdings Co., Ltd. |
1,651,700 |
60,442,466 |
|
SHIMANO, Inc. |
662,200 |
87,538,560 |
|
Shinsei Bank Ltd. |
23,933,000 |
43,379,132 |
|
SoftBank Corp. |
3,120,700 |
183,658,498 |
|
Suzuki Motor Corp. |
2,123,400 |
67,142,294 |
|
Tsuruha Holdings, Inc. |
1,469,000 |
98,710,888 |
|
TOTAL JAPAN |
3,614,280,510 |
||
Korea (South) - 1.3% |
|||
NAVER Corp. |
119,469 |
76,817,328 |
|
Orion Corp. |
82,708 |
78,292,405 |
|
Samsung Electronics Co. Ltd. |
120,511 |
148,408,005 |
|
TOTAL KOREA (SOUTH) |
303,517,738 |
||
Luxembourg - 1.3% |
|||
Altice SA |
3,048,986 |
255,300,745 |
|
Eurofins Scientific SA |
178,400 |
46,063,772 |
|
TOTAL LUXEMBOURG |
301,364,517 |
||
Netherlands - 3.3% |
|||
AEGON NV |
27,297,200 |
194,543,521 |
|
AerCap Holdings NV (a) |
490,800 |
19,401,324 |
|
Core Laboratories NV |
80,200 |
7,438,550 |
|
IMCD Group BV |
1,564,100 |
49,664,867 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Netherlands - continued |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
10,361,800 |
$ 128,822,169 |
|
LyondellBasell Industries NV Class A |
692,000 |
54,730,280 |
|
Reed Elsevier NV |
3,050,309 |
74,575,692 |
|
Unilever NV (Certificaten Van Aandelen) (Bearer) |
6,076,157 |
263,490,357 |
|
TOTAL NETHERLANDS |
792,666,760 |
||
Norway - 0.2% |
|||
Telenor ASA |
2,371,800 |
51,052,996 |
|
Philippines - 0.4% |
|||
Alliance Global Group, Inc. |
162,324,756 |
91,529,798 |
|
Singapore - 0.3% |
|||
United Overseas Bank Ltd. |
4,826,000 |
82,528,361 |
|
South Africa - 1.0% |
|||
Naspers Ltd. Class N |
1,709,499 |
246,615,581 |
|
Spain - 1.9% |
|||
Amadeus IT Holding SA Class A |
3,749,100 |
150,776,430 |
|
Criteria CaixaCorp SA |
6,978,016 |
30,468,251 |
|
Inditex SA |
8,409,019 |
248,339,775 |
|
Prosegur Compania de Seguridad SA (Reg.) |
5,005,595 |
27,885,669 |
|
TOTAL SPAIN |
457,470,125 |
||
Sweden - 2.3% |
|||
ASSA ABLOY AB (B Shares) |
1,184,800 |
64,765,783 |
|
HEXPOL AB (B Shares) |
212,700 |
21,374,882 |
|
Nordea Bank AB |
12,726,600 |
161,962,604 |
|
Svenska Cellulosa AB (SCA) (B Shares) |
7,692,400 |
186,122,946 |
|
Svenska Handelsbanken AB (A Shares) |
2,569,800 |
121,995,775 |
|
TOTAL SWEDEN |
556,221,990 |
||
Switzerland - 5.0% |
|||
Actelion Ltd. |
683,389 |
75,915,572 |
|
Compagnie Financiere Richemont SA Series A |
1,360,752 |
113,048,703 |
|
Credit Suisse Group AG |
3,483,021 |
73,337,973 |
|
Nestle SA |
1,476,137 |
112,734,024 |
|
Roche Holding AG (participation certificate) |
1,154,908 |
311,267,841 |
|
Sika AG (Bearer) |
14,528 |
49,871,767 |
|
Syngenta AG (Switzerland) |
734,259 |
239,173,008 |
|
UBS Group AG |
13,829,957 |
231,804,659 |
|
TOTAL SWITZERLAND |
1,207,153,547 |
||
Taiwan - 1.1% |
|||
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR (e) |
11,311,700 |
256,888,707 |
|
Thailand - 0.4% |
|||
Kasikornbank PCL (For. Reg.) |
12,225,200 |
83,367,345 |
|
|
|||
Shares |
Value |
||
United Arab Emirates - 0.0% |
|||
Emaar Malls Group PJSC (a) |
3,353,336 |
$ 2,538,020 |
|
United Kingdom - 16.6% |
|||
Al Noor Hospitals Group PLC |
3,609,200 |
49,360,488 |
|
Amec Foster Wheeler PLC |
1,401,001 |
16,828,747 |
|
Associated British Foods PLC |
2,244,000 |
104,878,695 |
|
B&M European Value Retail S.A. |
19,431,138 |
92,411,122 |
|
Babcock International Group PLC |
3,740,100 |
56,671,387 |
|
BG Group PLC |
12,700,602 |
169,398,932 |
|
British American Tobacco PLC sponsored ADR |
1,757,000 |
197,926,050 |
|
BT Group PLC |
23,703,400 |
148,706,767 |
|
Bunzl PLC |
1,473,470 |
42,100,890 |
|
Capita Group PLC |
2,217,000 |
37,332,764 |
|
Compass Group PLC |
4,934,176 |
85,540,662 |
|
easyJet PLC |
2,072,200 |
58,115,769 |
|
Essentra PLC |
12,073,112 |
150,931,528 |
|
Exova Group Ltd. PLC (a) |
8,095,588 |
18,290,362 |
|
GlaxoSmithKline PLC |
5,419,500 |
119,330,453 |
|
Hikma Pharmaceuticals PLC |
2,927,409 |
104,058,618 |
|
HSBC Holdings PLC sponsored ADR |
3,162,657 |
144,596,678 |
|
IMI PLC |
2,336,535 |
44,906,128 |
|
Imperial Tobacco Group PLC |
1,144,889 |
53,871,250 |
|
Intertek Group PLC |
330,900 |
11,428,348 |
|
ITV PLC |
33,133,900 |
109,793,817 |
|
Johnson Matthey PLC |
1,558,182 |
76,533,509 |
|
Kingfisher PLC |
9,398,231 |
48,346,018 |
|
Liberty Global PLC: |
|
|
|
Class A (a) |
863,200 |
40,328,704 |
|
Class C |
613,100 |
27,951,229 |
|
Lloyds Banking Group PLC (a) |
249,818,400 |
276,752,477 |
|
London Stock Exchange Group PLC |
1,385,000 |
49,335,958 |
|
Meggitt PLC |
11,490,448 |
93,284,260 |
|
Next PLC |
2,190,000 |
238,652,120 |
|
Poundland Group PLC |
5,474,316 |
29,122,805 |
|
Prudential PLC |
12,822,447 |
311,718,723 |
|
Reckitt Benckiser Group PLC |
2,445,687 |
206,990,366 |
|
Rolls-Royce Group PLC |
8,988,500 |
120,695,538 |
|
SABMiller PLC |
2,226,900 |
121,604,955 |
|
Schroders PLC |
940,300 |
41,043,791 |
|
Spectris PLC |
1,787,900 |
56,282,341 |
|
Sports Direct International PLC (a) |
5,832,200 |
62,501,431 |
|
St. James's Place Capital PLC |
11,792,100 |
152,391,620 |
|
Tesco PLC |
1,719,400 |
5,814,430 |
|
Travis Perkins PLC |
677,480 |
19,612,480 |
|
Vodafone Group PLC |
14,072,000 |
49,483,897 |
|
Whitbread PLC |
1,711,130 |
128,994,066 |
|
TOTAL UNITED KINGDOM |
3,973,920,173 |
||
United States of America - 7.5% |
|||
Alexion Pharmaceuticals, Inc. (a) |
593,500 |
108,752,940 |
|
Alliance Data Systems Corp. (a) |
262,900 |
75,933,407 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
Amgen, Inc. |
666,600 |
$ 101,496,516 |
|
Celgene Corp. (a) |
533,900 |
63,619,524 |
|
Celldex Therapeutics, Inc. (a) |
476,613 |
10,209,050 |
|
CF Industries Holdings, Inc. |
189,684 |
57,925,700 |
|
Fidelity National Information Services, Inc. |
1,220,300 |
76,183,329 |
|
FMC Corp. |
858,000 |
49,335,000 |
|
Gilead Sciences, Inc. (a) |
571,800 |
59,941,794 |
|
Google, Inc.: |
|
|
|
Class A (a) |
170,605 |
91,708,718 |
|
Class C (a) |
254,905 |
136,251,821 |
|
Las Vegas Sands Corp. |
1,738,400 |
94,516,808 |
|
MasterCard, Inc. Class A |
1,643,300 |
134,799,899 |
|
McGraw Hill Financial, Inc. |
2,230,600 |
199,504,864 |
|
Mead Johnson Nutrition Co. Class A |
683,100 |
67,278,519 |
|
Mondelez International, Inc. |
976,100 |
34,397,764 |
|
Noble Energy, Inc. |
1,189,556 |
56,789,403 |
|
Qorvo, Inc. (a) |
698,819 |
51,621,760 |
|
QUALCOMM, Inc. |
1,367,700 |
85,426,542 |
|
ResMed, Inc. (e) |
406,700 |
25,406,549 |
|
The Blackstone Group LP |
1,943,200 |
72,559,088 |
|
Visa, Inc. Class A |
557,300 |
142,061,343 |
|
TOTAL UNITED STATES OF AMERICA |
1,795,720,338 |
||
TOTAL COMMON STOCKS (Cost $17,991,780,535) |
|
||
Preferred Stocks - 1.7% |
|||
|
|
|
|
Convertible Preferred Stocks - 0.0% |
|||
United States of America - 0.0% |
|||
NJOY, Inc.: |
|
|
|
Series C (a)(j) |
770,400 |
6,217,128 |
|
Series D (j) |
250,743 |
2,023,496 |
|
TOTAL UNITED STATES OF AMERICA |
8,240,624 |
||
Nonconvertible Preferred Stocks - 1.7% |
|||
Germany - 1.7% |
|||
Henkel AG & Co. KGaA |
1,932,000 |
221,809,057 |
|
Volkswagen AG |
826,626 |
185,229,528 |
|
TOTAL GERMANY |
407,038,585 |
||
TOTAL PREFERRED STOCKS (Cost $314,992,677) |
|
Government Obligations - 0.0% |
||||
|
Principal Amount (d) |
Value |
||
United States of America - 0.0% |
||||
U.S. Treasury Bills, yield at date of purchase 0.01% 3/26/15 (i) |
|
$ 3,150,000 |
$ 3,149,943 |
|
Preferred Securities - 0.1% |
||||
|
||||
Ireland - 0.1% |
||||
Baggot Securities Ltd. 10.24% (g)(h) |
EUR |
20,050,000 |
|
Money Market Funds - 4.7% |
|||
Shares |
|
||
Fidelity Cash Central Fund, 0.13% (b) |
1,023,053,285 |
1,023,053,285 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
88,455,859 |
88,455,859 |
|
TOTAL MONEY MARKET FUNDS (Cost $1,111,509,144) |
|
TOTAL INVESTMENT PORTFOLIO - 100.1% (Cost $19,452,224,236) |
|
NET OTHER ASSETS (LIABILITIES) - (0.1)% |
(23,231,548) |
||
NET ASSETS - 100% |
$ 23,957,595,290 |
Futures Contracts |
|||||
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized
Appreciation/ |
||
Purchased |
|||||
Equity Index Contracts |
|||||
746 CME Nikkei 225 Index Contracts (United States) |
March 2015 |
$ 65,349,600 |
$ (1,850,543) |
|
The face value of futures purchased as a percentage of net assets is 0.3% |
Currency Abbreviations |
||
EUR |
- |
European Monetary Unit |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Amount is stated in United States dollars unless otherwise noted. |
(e) Security or a portion of the security is on loan at period end. |
(f) Affiliated company |
(g) 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 $26,023,508 or 0.1% of net assets. |
(h) Security is perpetual in nature with no stated maturity date. |
(i) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,836,949. |
(j) 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 $8,240,624 or 0.0% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition |
Acquisition |
NJOY, Inc. Series C |
6/7/13 |
$ 6,227,143 |
NJOY, Inc. Series D |
2/14/14 |
$ 4,244,101 |
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 |
$ 267,208 |
Fidelity Securities Lending Cash Central Fund |
699,313 |
Total |
$ 966,521 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Fairfax India Holdings Corp. |
$ - |
$ 61,051,750 |
$ - |
$ - |
$ 62,979,700 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 4,098,843,880 |
$ 2,335,103,178 |
$ 1,755,500,078 |
$ 8,240,624 |
Consumer Staples |
2,751,333,806 |
1,266,251,811 |
1,485,081,995 |
- |
Energy |
669,643,893 |
457,784,428 |
211,859,465 |
- |
Financials |
4,973,092,382 |
1,896,799,078 |
3,076,293,304 |
- |
Health Care |
3,846,181,884 |
1,910,232,216 |
1,935,949,668 |
- |
Industrials |
1,652,776,853 |
1,299,140,484 |
353,636,369 |
- |
Information Technology |
3,027,608,030 |
1,757,145,773 |
1,270,462,257 |
- |
Materials |
1,120,208,907 |
875,005,632 |
245,203,275 |
- |
Telecommunication Services |
700,454,608 |
75,968,310 |
624,486,298 |
- |
Government Obligations |
3,149,943 |
- |
3,149,943 |
- |
Preferred Securities |
26,023,508 |
- |
26,023,508 |
- |
Money Market Funds |
1,111,509,144 |
1,111,509,144 |
- |
- |
Total Investments in Securities: |
$ 23,980,826,838 |
$ 12,984,940,054 |
$ 10,987,646,160 |
$ 8,240,624 |
Derivative Instruments: |
||||
Liabilities |
||||
Futures Contracts |
$ (1,850,543) |
$ (1,850,543) |
$ - |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 872,058,477 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $19,642,070,452. Net unrealized appreciation aggregated $4,338,756,386, of which $5,185,175,182 related to appreciated investment securities and $846,418,796 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
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. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Emerging Asia Fund
January 31, 2015
1.813038.110
SEA-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 98.1% |
|||
Shares |
Value |
||
Bailiwick of Jersey - 0.3% |
|||
West China Cement Ltd. |
28,598,000 |
$ 3,195,200 |
|
Bermuda - 3.0% |
|||
BW LPG Ltd. |
33,694 |
209,293 |
|
BW Offshore Ltd. |
1,195,400 |
1,146,522 |
|
CSI Properties Ltd. |
54,220,000 |
2,089,794 |
|
Great Eagle Holdings Ltd. |
2,315,000 |
7,708,809 |
|
Hongkong Land Holdings Ltd. |
750,000 |
5,553,799 |
|
Kerry Logistics Network Ltd. |
708,000 |
1,079,873 |
|
Luk Fook Holdings International Ltd. |
675,000 |
2,504,898 |
|
Noble Group Ltd. |
3,528,000 |
2,759,762 |
|
Oriental Watch Holdings Ltd. |
4,036,000 |
717,104 |
|
PAX Global Technology Ltd. (a) |
2,582,000 |
2,417,604 |
|
Yue Yuen Industrial (Holdings) Ltd. |
1,822,000 |
6,779,786 |
|
TOTAL BERMUDA |
32,967,244 |
||
British Virgin Islands - 0.1% |
|||
Michael Kors Holdings Ltd. (a) |
22,600 |
1,599,854 |
|
Cayman Islands - 9.2% |
|||
58.com, Inc. ADR (a) |
40,600 |
1,561,882 |
|
AMVIG Holdings Ltd. |
1,270,000 |
627,122 |
|
Baidu.com, Inc. sponsored ADR (a) |
19,500 |
4,249,440 |
|
Belle International Holdings Ltd. |
2,588,000 |
2,929,450 |
|
Best Pacific International Holdings Ltd. |
3,066,000 |
1,521,091 |
|
China Lilang Ltd. |
243,000 |
152,664 |
|
China Lodging Group Ltd. ADR (a)(d) |
163,200 |
3,541,440 |
|
China Modern Dairy Holdings Ltd. (a) |
7,070,000 |
2,282,534 |
|
China Resources Cement Holdings Ltd. |
9,553,706 |
5,669,602 |
|
China Sanjiang Fine Chemicals Ltd. |
7,526,000 |
2,222,956 |
|
China State Construction International Holdings Ltd. |
2,136,000 |
3,274,208 |
|
Greatview Aseptic Pack Co. Ltd. (d) |
5,289,000 |
2,410,976 |
|
Hilong Holding Ltd. |
2,558,000 |
789,718 |
|
Hosa International Ltd. |
1,954,000 |
800,799 |
|
International Housewares Retail Co. Ltd. |
6,982,000 |
1,759,904 |
|
Lee's Pharmaceutical Holdings Ltd. |
629,500 |
942,460 |
|
Lifestyle International Holdings Ltd. |
1,405,500 |
2,751,397 |
|
Lifetech Scientific Corp. (a) |
1,168,000 |
225,349 |
|
Longfor Properties Co. Ltd. |
3,223,000 |
4,234,193 |
|
Pico Far East Holdings Ltd. |
2,384,000 |
534,974 |
|
Qunar Cayman Islands Ltd. sponsored ADR (a)(d) |
79,000 |
2,317,860 |
|
Samson Holding Ltd. |
4,079,000 |
531,520 |
|
Sino Biopharmaceutical Ltd. |
4,372,000 |
4,367,588 |
|
SITC International Holdings Co. Ltd. |
3,001,000 |
1,655,827 |
|
Sitoy Group Holdings Ltd. |
1,108,000 |
731,286 |
|
SOHO China Ltd. |
6,628,000 |
4,603,107 |
|
SPT Energy Group, Inc. |
5,438,000 |
869,381 |
|
Sunny Optical Technology Group Co. Ltd. |
1,807,000 |
2,740,985 |
|
Tencent Holdings Ltd. |
1,875,500 |
31,633,227 |
|
Value Partners Group Ltd. |
4,554,000 |
3,869,859 |
|
Vipshop Holdings Ltd. ADR (a) |
73,000 |
1,634,470 |
|
|
|||
Shares |
Value |
||
WuXi PharmaTech Cayman, Inc. sponsored ADR (a) |
91,400 |
$ 3,665,140 |
|
Xinyi Solar Holdings Ltd. |
1,656,000 |
454,887 |
|
TOTAL CAYMAN ISLANDS |
101,557,296 |
||
China - 19.4% |
|||
Agricultural Bank of China Ltd. (H Shares) |
11,897,000 |
5,809,470 |
|
Aluminum Corp. of China Ltd. (H Shares) (a) |
4,444,000 |
2,006,333 |
|
Anhui Conch Cement Co. Ltd. (H Shares) |
1,081,000 |
3,618,729 |
|
Bank of China Ltd. (H Shares) |
35,697,000 |
19,928,163 |
|
Baoshan Iron & Steel Co. Ltd. |
2,502,314 |
2,361,552 |
|
BBMG Corp. (H Shares) |
1,608,000 |
1,407,219 |
|
Beijing Jingneng Clean Energy Co. Ltd. (H Shares) |
7,356,000 |
2,941,527 |
|
China Communications Construction Co. Ltd. (H Shares) |
5,879,000 |
6,386,850 |
|
China Construction Bank Corp. (H Shares) |
34,007,000 |
27,221,953 |
|
China National Building Materials Co. Ltd. (H Shares) |
2,100,000 |
2,018,793 |
|
China Pacific Insurance Group Co. Ltd. (H Shares) |
2,064,600 |
9,921,978 |
|
China Railway Group Ltd. (H Shares) |
9,683,000 |
7,068,058 |
|
China Shenhua Energy Co. Ltd. (H Shares) |
3,197,000 |
8,775,878 |
|
China Telecom Corp. Ltd. (H Shares) |
18,470,000 |
10,922,901 |
|
China Vanke Co. Ltd. (H Shares) (a) |
1,932,800 |
4,188,120 |
|
Chongqing Changan Automobile Co. Ltd. (B Shares) |
507,086 |
1,268,394 |
|
CSR Corp. Ltd. (H Shares) |
3,136,000 |
3,793,593 |
|
Daqin Railway Co. Ltd. (A Shares) |
868,400 |
1,465,256 |
|
Huadian Fuxin Energy Corp. Ltd. (H Shares) |
10,422,000 |
4,911,903 |
|
Industrial & Commercial Bank of China Ltd. (H Shares) |
32,350,000 |
23,069,672 |
|
Inner Mongoli Yili Industries Co. Ltd. |
830,224 |
3,601,034 |
|
Jiangsu Hengrui Medicine Co. Ltd. |
171,518 |
1,109,379 |
|
Kweichow Moutai Co. Ltd. |
116,800 |
3,287,962 |
|
Maanshan Iron & Steel Ltd. (H Shares) (a) |
7,220,000 |
1,961,322 |
|
People's Insurance Co. of China Group (H Shares) |
17,916,000 |
8,723,478 |
|
PetroChina Co. Ltd. (H Shares) |
14,180,000 |
15,398,081 |
|
PICC Property & Casualty Co. Ltd. (H Shares) |
3,635,120 |
7,089,658 |
|
Ping An Insurance (Group) Co. of China Ltd. (H Shares) |
1,446,000 |
15,326,058 |
|
Qingdao Haier Co. Ltd. |
342,390 |
1,085,259 |
|
SAIC Motor Corp. Ltd. |
281,958 |
1,014,663 |
|
Shenzhen Expressway Co. (H Shares) |
1,450,000 |
1,127,445 |
|
Tong Ren Tang Technologies Co. Ltd. (H Shares) |
805,000 |
999,191 |
|
Weifu High-Technology Co. Ltd. (B Shares) |
282,900 |
1,033,732 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
China - continued |
|||
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares) |
535,100 |
$ 1,754,959 |
|
Zhejiang Expressway Co. Ltd. (H Shares) |
572,000 |
727,909 |
|
TOTAL CHINA |
213,326,472 |
||
Hong Kong - 10.7% |
|||
AIA Group Ltd. |
5,291,800 |
30,718,578 |
|
China Mobile Ltd. |
717,500 |
9,405,340 |
|
China Power International Development Ltd. |
7,455,000 |
4,232,667 |
|
China Resources Power Holdings Co. Ltd. |
1,664,000 |
4,659,147 |
|
Dah Chong Hong Holdings Ltd. (d) |
8,364,000 |
4,897,787 |
|
Dah Sing Banking Group Ltd. |
672,400 |
1,121,788 |
|
Dah Sing Financial Holdings Ltd. |
284,400 |
1,642,989 |
|
Far East Horizon Ltd. |
5,847,000 |
4,981,650 |
|
Fosun International Ltd. |
1,784,000 |
2,491,525 |
|
Franshion Properties China Ltd. |
4,914,000 |
1,442,751 |
|
Henderson Land Development Co. Ltd. |
696,000 |
4,961,657 |
|
HKT Trust/HKT Ltd. unit |
5,006,300 |
6,544,962 |
|
Hysan Development Co. Ltd. |
1,245,000 |
6,017,308 |
|
Lenovo Group Ltd. |
5,752,000 |
7,406,243 |
|
Magnificent Estates Ltd. (a) |
6,930,000 |
303,293 |
|
PCCW Ltd. |
11,488,000 |
7,620,741 |
|
Power Assets Holdings Ltd. |
700,500 |
7,326,670 |
|
Techtronic Industries Co. Ltd. |
1,340,500 |
4,377,762 |
|
Wheelock and Co. Ltd. |
1,375,000 |
7,779,471 |
|
TOTAL HONG KONG |
117,932,329 |
||
India - 10.6% |
|||
Alembic Pharmaceuticals Ltd. (a) |
78,926 |
595,821 |
|
Apollo Tyres Ltd. |
567,772 |
2,212,788 |
|
Axis Bank Ltd. (a) |
276,333 |
2,635,656 |
|
Bajaj Finserv Ltd. (a) |
113,224 |
2,637,417 |
|
Bharat Heavy Electricals Ltd. |
634,969 |
2,974,775 |
|
Bharat Petroleum Corp. Ltd. (a) |
366,147 |
4,406,961 |
|
Bharti Infratel Ltd. |
801,541 |
4,664,086 |
|
Cadila Healthcare Ltd. (a) |
41,789 |
1,104,101 |
|
Cox & Kings India Ltd. |
730,981 |
3,585,177 |
|
Edelweiss Financial Srvs Ltd. |
952,810 |
1,062,715 |
|
Engineers India Ltd. |
166,459 |
579,375 |
|
GAIL India Ltd. |
276,661 |
1,882,752 |
|
Grasim Industries Ltd. |
38,277 |
2,556,350 |
|
HCL Technologies Ltd. |
300,619 |
8,663,535 |
|
Hexaware Technologies Ltd. |
1,050,854 |
3,812,646 |
|
IL&FS Transportation Networks Ltd. (a) |
360,458 |
1,233,215 |
|
Indian Oil Corp. Ltd. (a) |
925,815 |
5,163,716 |
|
JK Tyre & Industries Ltd. (a) |
506,501 |
980,851 |
|
Just Dial Ltd. |
20,788 |
520,808 |
|
LIC Housing Finance Ltd. |
246,031 |
1,894,000 |
|
Mahindra & Mahindra Ltd. (a) |
201,507 |
4,099,820 |
|
Maruti Suzuki India Ltd. (a) |
99,222 |
5,885,623 |
|
McLeod Russel India Ltd. |
344,049 |
1,138,897 |
|
|
|||
Shares |
Value |
||
NIIT Technologies Ltd. (a) |
32,150 |
$ 181,153 |
|
NTPC Ltd. |
2,245,016 |
5,188,920 |
|
Oil & Natural Gas Corp. Ltd. |
481,669 |
2,719,323 |
|
Petronet LNG Ltd. (a) |
1,587,986 |
4,600,892 |
|
Power Finance Corp. Ltd. |
351,269 |
1,684,082 |
|
Power Grid Corp. of India Ltd. |
477,859 |
1,168,436 |
|
Redington India Ltd. (a) |
525,761 |
1,028,984 |
|
Reliance Capital Ltd. (a) |
73,076 |
570,880 |
|
Sesa Sterlite Ltd. |
1,600,457 |
5,187,795 |
|
Shriram City Union Finance Ltd. |
51,853 |
1,764,419 |
|
Sun TV Ltd. |
166,478 |
1,091,440 |
|
Tata Motors Ltd. (a) |
1,122,398 |
10,570,330 |
|
The Jammu & Kashmir Bank Ltd. |
1,573,258 |
3,859,146 |
|
Union Bank of India |
631,071 |
2,121,325 |
|
UPL Ltd. |
500,922 |
2,968,613 |
|
Vakrangee Ltd. |
275,786 |
570,653 |
|
VST Industries Ltd. (a) |
42,310 |
1,278,590 |
|
Yes Bank Ltd. |
452,898 |
6,278,378 |
|
TOTAL INDIA |
117,124,444 |
||
Indonesia - 2.1% |
|||
PT Astra International Tbk |
2,811,000 |
1,730,891 |
|
PT Bank Central Asia Tbk |
9,798,000 |
10,287,503 |
|
PT Bank Rakyat Indonesia Tbk |
9,687,600 |
8,863,969 |
|
PT Media Nusantara Citra Tbk |
3,808,100 |
856,784 |
|
PT United Tractors Tbk |
1,174,000 |
1,652,006 |
|
TOTAL INDONESIA |
23,391,153 |
||
Israel - 0.0% |
|||
Sarine Technologies Ltd. |
290,000 |
558,112 |
|
Japan - 1.7% |
|||
Fuji Media Holdings, Inc. |
282,000 |
3,544,859 |
|
KDDI Corp. |
73,500 |
5,188,289 |
|
NGK Insulators Ltd. |
110,000 |
2,216,636 |
|
SoftBank Corp. |
63,900 |
3,760,624 |
|
Suzuki Motor Corp. |
110,400 |
3,490,868 |
|
TOTAL JAPAN |
18,201,276 |
||
Korea (South) - 15.9% |
|||
AMOREPACIFIC Corp. |
2,407 |
5,754,598 |
|
AMOREPACIFIC Group, Inc. |
6,017 |
6,803,707 |
|
Bgf Retail (a) |
45,071 |
3,297,022 |
|
DGB Financial Group Co. Ltd. |
299,544 |
2,849,735 |
|
Dongbu Insurance Co. Ltd. |
141,230 |
6,758,912 |
|
GS Retail Co. Ltd. |
95,284 |
2,247,324 |
|
Hanjin Shipping Co. Ltd. (a) |
205,007 |
1,103,776 |
|
Hyundai Hysco Co. Ltd. |
114,537 |
7,952,266 |
|
Hyundai Motor Co. |
106,879 |
16,294,481 |
|
Hyundai Steel Co. |
98,456 |
5,859,855 |
|
InterPark INT Corp. |
68,735 |
1,458,366 |
|
KB Financial Group, Inc. |
314,950 |
10,495,732 |
|
Korea Zinc Co. Ltd. |
17,394 |
6,739,975 |
|
KTIS Corp. |
171,423 |
568,576 |
|
LG Household & Health Care Ltd. |
14,112 |
8,770,321 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Korea (South) - continued |
|||
Medy-Tox, Inc. |
1,860 |
$ 619,992 |
|
Samsung Electronics Co. Ltd. |
51,853 |
63,856,413 |
|
Samsung Heavy Industries Co. Ltd. |
321,842 |
5,168,896 |
|
Shinhan Financial Group Co. Ltd. |
325,342 |
13,177,165 |
|
SK Telecom Co. Ltd. |
21,660 |
5,631,036 |
|
TOTAL KOREA (SOUTH) |
175,408,148 |
||
Malaysia - 3.3% |
|||
AEON Credit Service Bhd |
155,400 |
534,251 |
|
AMMB Holdings Bhd |
773,000 |
1,332,680 |
|
Glomac Bhd |
1,592,200 |
431,137 |
|
IJM Corp. Bhd |
1,016,300 |
1,931,231 |
|
Kossan Rubber Industries Bhd |
1,609,100 |
2,307,959 |
|
Media Prima Bhd |
3,540,600 |
1,820,566 |
|
SapuraKencana Petroleum Bhd |
2,943,500 |
2,162,165 |
|
Sunway Bhd |
1,786,400 |
1,635,181 |
|
Tenaga Nasional Bhd |
3,316,900 |
13,220,433 |
|
YTL Corp. Bhd |
14,812,400 |
7,130,515 |
|
YTL Power International Bhd |
8,024,300 |
3,532,446 |
|
TOTAL MALAYSIA |
36,038,564 |
||
Philippines - 1.7% |
|||
ABS CBN Broadcasting Corp. (depositary receipt) |
357,700 |
403,391 |
|
Alliance Global Group, Inc. |
4,793,700 |
2,703,016 |
|
Ayala Land, Inc. |
3,119,700 |
2,534,903 |
|
D&L Industries, Inc. |
1,865,900 |
715,445 |
|
Globe Telecom, Inc. |
69,465 |
2,735,567 |
|
Jollibee Food Corp. |
408,110 |
2,137,646 |
|
Metropolitan Bank & Trust Co. |
2,010,640 |
4,321,364 |
|
Security Bank Corp. |
827,248 |
2,839,668 |
|
TOTAL PHILIPPINES |
18,391,000 |
||
Singapore - 5.1% |
|||
Amtek Engineering Ltd. |
707,000 |
324,351 |
|
Ascendas Real Estate Investment Trust |
1,634,000 |
2,967,484 |
|
Boustead Singapore Ltd. |
410,088 |
545,292 |
|
CWT Ltd. |
422,000 |
524,024 |
|
Ezion Holdings Ltd. |
7,670,600 |
7,191,662 |
|
Frasers Centrepoint Ltd. |
438,000 |
555,763 |
|
Hyflux Ltd. |
1,645,000 |
1,157,421 |
|
Mapletree Industrial (REIT) |
5,331,351 |
6,021,213 |
|
Sheng Siong Group Ltd. |
2,091,000 |
1,118,580 |
|
Singapore Telecommunications Ltd. |
4,479,000 |
13,488,392 |
|
Sound Global Ltd. (a) |
1,008,000 |
1,019,799 |
|
United Overseas Bank Ltd. |
855,000 |
14,621,166 |
|
UOL Group Ltd. |
602,000 |
3,203,762 |
|
Wing Tai Holdings Ltd. |
2,134,000 |
2,883,858 |
|
TOTAL SINGAPORE |
55,622,767 |
||
Taiwan - 11.4% |
|||
ASUSTeK Computer, Inc. |
850,000 |
8,819,919 |
|
|
|||
Shares |
Value |
||
FLEXium Interconnect, Inc. |
416,000 |
$ 980,576 |
|
Fubon Financial Holding Co. Ltd. |
6,929,000 |
10,900,585 |
|
Giant Manufacturing Co. Ltd. |
314,000 |
2,720,865 |
|
Hon Hai Precision Industry Co. Ltd. (Foxconn) |
7,326,200 |
19,958,330 |
|
NAK Sealing Technologies Corp. |
148,000 |
461,975 |
|
Novatek Microelectronics Corp. |
1,175,000 |
6,416,578 |
|
Pegatron Corp. |
2,654,000 |
7,006,398 |
|
Pou Chen Corp. |
2,043,000 |
2,777,744 |
|
Realtek Semiconductor Corp. |
467,000 |
1,405,753 |
|
Richtek Technology Corp. |
435,000 |
2,188,731 |
|
Sinopac Holdings Co. |
16,337,060 |
6,600,804 |
|
Taishin Financial Holdings Co. Ltd. |
11,061,583 |
4,502,744 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
9,804,192 |
42,804,832 |
|
Wistron Corp. |
6,231,000 |
5,639,847 |
|
Wistron NeWeb Corp. |
1,043,000 |
2,221,356 |
|
TOTAL TAIWAN |
125,407,037 |
||
Thailand - 2.5% |
|||
Asian Property Development PCL (For. Reg.) |
5,799,800 |
1,132,066 |
|
Bangkok Expressway PCL (For.Reg.) |
827,200 |
985,982 |
|
CH. Karnchang PCL |
1,369,900 |
1,219,706 |
|
Intouch Holdings PCL NVDR |
2,456,800 |
6,039,908 |
|
Kasikornbank PCL (For. Reg.) |
1,328,400 |
9,058,762 |
|
Preuksa Real Estate PCL (For. Reg.) |
3,899,200 |
3,824,520 |
|
Thai Beverage PCL |
10,309,000 |
5,493,245 |
|
TOTAL THAILAND |
27,754,189 |
||
United Kingdom - 0.4% |
|||
Standard Chartered PLC (United Kingdom) |
301,057 |
4,025,294 |
|
United States of America - 0.7% |
|||
China Biologic Products, Inc. (a) |
8,000 |
545,120 |
|
Cognizant Technology Solutions Corp. Class A (a) |
135,100 |
7,312,963 |
|
TOTAL UNITED STATES OF AMERICA |
7,858,083 |
||
TOTAL COMMON STOCKS (Cost $1,000,762,109) |
|
||
Money Market Funds - 1.8% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
18,058,220 |
$ 18,058,220 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
1,406,595 |
1,406,595 |
|
TOTAL MONEY MARKET FUNDS (Cost $19,464,815) |
|
||
TOTAL INVESTMENT PORTFOLIO - 99.9% (Cost $1,020,226,924) |
1,099,823,277 |
||
NET OTHER ASSETS (LIABILITIES) - 0.1% |
762,313 |
||
NET ASSETS - 100% |
$ 1,100,585,590 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 5,736 |
Fidelity Securities Lending Cash Central Fund |
2,708 |
Total |
$ 8,444 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 110,451,877 |
$ 9,093,624 |
$ 101,358,253 |
$ - |
Consumer Staples |
46,828,773 |
- |
46,828,773 |
- |
Energy |
53,978,884 |
1,355,815 |
52,623,069 |
- |
Financials |
368,872,542 |
4,025,294 |
364,847,248 |
- |
Health Care |
16,482,100 |
4,210,260 |
12,271,840 |
- |
Industrials |
53,544,433 |
- |
53,544,433 |
- |
Information Technology |
233,853,743 |
13,124,285 |
220,729,458 |
- |
Materials |
61,971,628 |
- |
61,971,628 |
- |
Telecommunication Services |
76,001,846 |
- |
76,001,846 |
- |
Utilities |
58,372,636 |
- |
55,431,109 |
2,941,527 |
Money Market Funds |
19,464,815 |
19,464,815 |
- |
- |
Total Investments in Securities: |
$ 1,099,823,277 |
$ 51,274,093 |
$ 1,045,607,657 |
$ 2,941,527 |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 149,335,268 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,020,634,242. Net unrealized appreciation aggregated $79,189,035, of which $133,118,592 related to appreciated investment securities and $53,929,557 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Emerging Europe,
Middle East, Africa (EMEA) Fund
January 31, 2015
1.861978.106
EME-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 96.6% |
|||
Shares |
Value |
||
Austria - 0.9% |
|||
CA Immobilien Anlagen AG |
43,700 |
$ 886,636 |
|
Bermuda - 0.4% |
|||
Aquarius Platinum Ltd. (a) |
1,967,700 |
418,220 |
|
Botswana - 0.3% |
|||
First National Bank of Botswana Ltd. |
814,358 |
308,536 |
|
Canada - 0.8% |
|||
Africa Oil Corp. (a) |
246,600 |
463,818 |
|
SEMAFO, Inc. (a) |
105,000 |
367,711 |
|
TOTAL CANADA |
831,529 |
||
Croatia - 0.5% |
|||
Ledo d.d. |
413 |
494,063 |
|
Czech Republic - 1.5% |
|||
Komercni Banka A/S |
7,705 |
1,571,591 |
|
Estonia - 0.4% |
|||
Tallinna Kaubamaja AS |
70,900 |
436,638 |
|
Greece - 1.7% |
|||
Fourlis Holdings SA (a) |
130,500 |
411,427 |
|
Jumbo SA |
53,036 |
505,216 |
|
Karelia Tobacco Co., Inc. |
1,970 |
467,481 |
|
Sarantis SA |
37,800 |
301,134 |
|
TOTAL GREECE |
1,685,258 |
||
Kenya - 1.5% |
|||
British American Tobacco Kenya Ltd. |
31,700 |
311,293 |
|
Kenya Commercial Bank Ltd. |
756,500 |
482,872 |
|
Safaricom Ltd. |
4,416,544 |
681,878 |
|
TOTAL KENYA |
1,476,043 |
||
Kuwait - 0.9% |
|||
Kuwait Food Co. (Americana) |
95,250 |
877,791 |
|
Lithuania - 0.5% |
|||
Apranga AB (a) |
163,766 |
494,098 |
|
Luxembourg - 0.6% |
|||
Pegas NONWOVENS SA |
20,400 |
559,782 |
|
Nigeria - 0.7% |
|||
FBN Holdings PLC |
3,800,000 |
143,652 |
|
Zenith Bank PLC |
6,384,656 |
545,019 |
|
TOTAL NIGERIA |
688,671 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Oman - 0.8% |
|||
National Bank of Oman (a) |
835,224 |
$ 776,549 |
|
Pakistan - 1.2% |
|||
Indus Motor Co. Ltd. |
37,000 |
376,900 |
|
Pak Suzuki Motors |
116,800 |
496,030 |
|
United Bank Ltd. |
190,000 |
338,327 |
|
TOTAL PAKISTAN |
1,211,257 |
||
Poland - 3.8% |
|||
Bank Handlowy w Warszawie SA |
43,000 |
1,256,767 |
|
Bank Polska Kasa Opieki SA |
42,900 |
2,072,752 |
|
Orbis SA |
50,000 |
576,308 |
|
TOTAL POLAND |
3,905,827 |
||
Qatar - 3.2% |
|||
Al Meera Consumer Goods Co. (a) |
7,996 |
439,099 |
|
Commercial Bank of Qatar (a) |
56,748 |
1,051,755 |
|
Qatar National Bank SAQ (a) |
32,850 |
1,785,914 |
|
TOTAL QATAR |
3,276,768 |
||
Romania - 2.1% |
|||
Banca Transilvania SA (a) |
1,651,868 |
883,667 |
|
Bursa de Valori Bucuresti (a) |
73,404 |
719,904 |
|
SNP Petrom SA |
5,839,899 |
538,081 |
|
TOTAL ROMANIA |
2,141,652 |
||
Russia - 12.0% |
|||
Gazprom OAO sponsored ADR (Reg. S) |
898,200 |
3,637,710 |
|
LUKOIL Oil Co. sponsored ADR (United Kingdom) |
109,895 |
4,329,863 |
|
Megafon OJSC GDR |
81,800 |
1,123,932 |
|
NOVATEK OAO GDR (Reg. S) |
2,425 |
169,750 |
|
Sberbank of Russia sponsored ADR |
661,400 |
2,450,487 |
|
Vozrozhdenie Bank (a) |
90,200 |
478,799 |
|
TOTAL RUSSIA |
12,190,541 |
||
Slovenia - 0.4% |
|||
Krka dd Novo mesto |
6,700 |
439,042 |
|
South Africa - 46.5% |
|||
AngloGold Ashanti Ltd. (a) |
191,000 |
2,316,620 |
|
Ascendis Health Ltd. |
160,000 |
218,518 |
|
Aspen Pharmacare Holdings Ltd. |
63,600 |
2,381,467 |
|
Cashbuild Ltd. |
79,700 |
1,265,372 |
|
Clicks Group Ltd. |
191,220 |
1,477,870 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
South Africa - continued |
|||
DRDGOLD Ltd. |
3,680,214 |
$ 841,799 |
|
FirstRand Ltd. |
720,300 |
3,205,607 |
|
Grand Parade Investments Ltd. |
727,000 |
392,380 |
|
Holdsport Ltd. |
220,400 |
940,651 |
|
Hulamin Ltd. (a) |
896,200 |
677,010 |
|
MTN Group Ltd. |
323,350 |
5,583,838 |
|
Nampak Ltd. |
498,100 |
1,815,841 |
|
Naspers Ltd. Class N |
50,900 |
7,342,931 |
|
Netcare Ltd. |
154,000 |
511,255 |
|
Pioneer Foods Ltd. |
97,500 |
1,270,651 |
|
Raubex Group Ltd. |
484,600 |
841,359 |
|
Remgro Ltd. |
124,500 |
2,880,900 |
|
RMB Holdings Ltd. |
184,600 |
1,042,639 |
|
Sasol Ltd. |
98,100 |
3,543,371 |
|
Shoprite Holdings Ltd. |
120,100 |
1,898,501 |
|
Spar Group Ltd. |
71,500 |
1,127,897 |
|
Standard Bank Group Ltd. |
239,363 |
3,160,843 |
|
Telkom SA Ltd. (a) |
102,800 |
614,327 |
|
Truworths International Ltd. |
129,000 |
893,321 |
|
Zeder Investments Ltd. |
1,390,847 |
934,026 |
|
TOTAL SOUTH AFRICA |
47,178,994 |
||
Turkey - 7.3% |
|||
Aselsan A/S |
244,000 |
1,186,935 |
|
Brisa Bridgestone S.A.B. Las San |
151,000 |
669,726 |
|
Gubre Fabrikalari TAS |
298,000 |
679,737 |
|
Koc Holding A/S |
255,850 |
1,333,478 |
|
Logo Yazilim Sanayi Ve Ticar (a) |
43,328 |
492,384 |
|
Pinar Sut Mamulleri Sanayi A/S |
58,000 |
521,604 |
|
Soda Sanayii AS |
180,000 |
384,826 |
|
Turkiye Garanti Bankasi A/S |
505,000 |
2,123,418 |
|
TOTAL TURKEY |
7,392,108 |
||
United Arab Emirates - 4.0% |
|||
Agthia Group PJSC |
300,000 |
514,559 |
|
Aldar Properties PJSC (a) |
1,409,585 |
909,521 |
|
Emaar Properties PJSC |
272,227 |
496,568 |
|
First Gulf Bank PJSC |
248,138 |
1,148,459 |
|
SHUAA Capital PSC (a) |
5,249,942 |
997,661 |
|
TOTAL UNITED ARAB EMIRATES |
4,066,768 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - 4.6% |
|||
Abdullah Al Othaim Markets Co. ELS (HSBC Warrant Program) warrants 7/31/17 (a)(c) |
17,836 |
$ 523,566 |
|
Al Noor Hospitals Group PLC |
30,100 |
411,657 |
|
Alabama Khaleej Training & Education ELS (HSBC Bank Warrant Program) warrants 7/18/16 (a)(c) |
32,384 |
568,146 |
|
Fawaz Abdulaziz Alhokair Co. ELS (HSBC Warrant Program) warrants 3/20/17 (a)(c) |
10,300 |
248,937 |
|
Halwani Bros. Co. ELS (HSBC Warrant Program) warrants 5/4/15 (a)(c) |
16,262 |
360,119 |
|
NMC Health PLC |
68,700 |
525,140 |
|
Saudia Dairy & Foodstuff Co. ELS (HSBC Warrant Program) warrants 6/26/15 (a)(c) |
19,000 |
610,132 |
|
Savola Group ELS (HSBC Warrant Program) warrants 2/6/17 (a)(c) |
34,200 |
734,705 |
|
United International Transportation Co. ELS (HSBC Warrant Program) warrants 7/31/17 (a)(c) |
30,667 |
636,706 |
|
TOTAL UNITED KINGDOM |
4,619,108 |
||
TOTAL COMMON STOCKS (Cost $93,108,157) |
|
||
Nonconvertible Preferred Stocks - 2.3% |
|||
|
|
|
|
Russia - 2.3% |
|||
Surgutneftegas (a) |
2,448,600 |
1,477,328 |
|
Tatneft OAO (a) |
363,800 |
832,070 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $2,423,687) |
|
||
Money Market Funds - 0.6% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
633,903 |
|
|
TOTAL INVESTMENT PORTFOLIO - 99.5% (Cost $96,165,747) |
100,870,771 |
||
NET OTHER ASSETS (LIABILITIES) - 0.5% |
547,836 |
||
NET ASSETS - 100% |
$ 101,418,607 |
Security Type Abbreviations |
ELS |
- |
Equity-Linked Security |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) 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 $3,682,311 or 3.6% of net assets. |
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 |
$ 207 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 16,370,079 |
$ 4,967,278 |
$ 11,402,801 |
$ - |
Consumer Staples |
10,754,607 |
3,485,871 |
7,268,736 |
- |
Energy |
14,991,991 |
11,448,620 |
3,543,371 |
- |
Financials |
34,273,217 |
19,305,436 |
14,967,781 |
- |
Health Care |
4,487,079 |
1,375,839 |
3,111,240 |
- |
Industrials |
3,361,772 |
2,520,413 |
841,359 |
- |
Information Technology |
492,384 |
492,384 |
- |
- |
Materials |
7,501,764 |
1,432,274 |
6,069,490 |
- |
Telecommunication Services |
8,003,975 |
1,805,810 |
6,198,165 |
- |
Money Market Funds |
633,903 |
633,903 |
- |
- |
Total Investments in Securities: |
$ 100,870,771 |
$ 47,467,828 |
$ 53,402,943 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 43,108,451 |
Level 2 to Level 1 |
$ 0 |
Valuation Inputs at Reporting Date: |
The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value: |
Investments in Securities: |
|
|
|
Beginning Balance |
$ 1,010,924 |
Net Realized Gain (Loss) on Investment Securities |
- |
Net Unrealized Gain (Loss) on Investment Securities |
- |
Cost of Purchases |
- |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers into Level 3 |
- |
Transfers out of Level 3 |
(1,010,924) |
Ending Balance |
$ - |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2015 |
$ - |
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 into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $97,173,002. Net unrealized appreciation aggregated $3,697,769, of which $18,651,163 related to appreciated investment securities and $14,953,394 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Emerging Markets Discovery Fund
January 31, 2015
1.931229.103
EMD-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 93.7% |
|||
Shares |
Value |
||
Bailiwick of Jersey - 0.5% |
|||
West China Cement Ltd. |
3,088,000 |
$ 345,016 |
|
Bangladesh - 0.4% |
|||
Titas Gas Transmission & Distribution Co. Ltd. (a) |
345,704 |
334,660 |
|
Bermuda - 4.4% |
|||
Aquarius Platinum Ltd. (Australia) (a) |
1,441,115 |
308,974 |
|
ChipMOS TECHNOLOGIES (Bermuda) Ltd. |
23,100 |
542,157 |
|
Shangri-La Asia Ltd. |
580,000 |
752,910 |
|
Vtech Holdings Ltd. |
41,200 |
579,962 |
|
Yue Yuen Industrial (Holdings) Ltd. |
295,000 |
1,097,715 |
|
TOTAL BERMUDA |
3,281,718 |
||
Brazil - 2.6% |
|||
Companhia de Saneamento de Minas Gerais |
20,150 |
127,662 |
|
Cosan SA Industria e Comercio |
16,380 |
149,744 |
|
Fibria Celulose SA (a) |
51,300 |
617,531 |
|
Minerva SA (a) |
70,700 |
227,389 |
|
QGEP Participacoes SA |
104,100 |
221,139 |
|
Qualicorp SA (a) |
56,200 |
556,083 |
|
TOTAL BRAZIL |
1,899,548 |
||
British Virgin Islands - 0.7% |
|||
Luxoft Holding, Inc. (a) |
13,400 |
522,868 |
|
Canada - 1.3% |
|||
Pan American Silver Corp. |
49,300 |
574,838 |
|
Torex Gold Resources, Inc. (a) |
318,500 |
363,441 |
|
TOTAL CANADA |
938,279 |
||
Cayman Islands - 10.1% |
|||
58.com, Inc. ADR (a)(d) |
10,900 |
419,323 |
|
China Cord Blood Corp. (a) |
109,500 |
511,365 |
|
China Lodging Group Ltd. ADR (a)(d) |
36,400 |
789,880 |
|
China ZhengTong Auto Services Holdings Ltd. |
837,000 |
418,981 |
|
Cimc Enric Holdings Ltd. |
242,000 |
186,355 |
|
Haitian International Holdings Ltd. |
315,000 |
610,718 |
|
Hilong Holding Ltd. |
1,067,000 |
329,409 |
|
Lee's Pharmaceutical Holdings Ltd. |
377,000 |
564,428 |
|
Pico Far East Holdings Ltd. |
2,320,000 |
520,612 |
|
Semiconductor Manufacturing International Corp. (a) |
5,083,000 |
440,588 |
|
Shenzhou International Group Holdings Ltd. |
152,000 |
552,296 |
|
Silergy Corp. |
46,520 |
337,066 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Cayman Islands - continued |
|||
SITC International Holdings Co. Ltd. |
1,697,000 |
$ 936,334 |
|
Uni-President China Holdings Ltd. |
977,000 |
837,627 |
|
TOTAL CAYMAN ISLANDS |
7,454,982 |
||
Chile - 5.3% |
|||
Aguas Andinas SA |
902,025 |
519,649 |
|
CorpBanca SA |
51,607,944 |
570,182 |
|
Inversiones La Construccion SA |
46,743 |
560,550 |
|
Quinenco SA |
668,809 |
1,372,284 |
|
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR |
21,500 |
512,990 |
|
Vina Concha y Toro SA |
231,088 |
421,267 |
|
TOTAL CHILE |
3,956,922 |
||
China - 4.3% |
|||
BBMG Corp. (H Shares) |
686,500 |
600,781 |
|
China Machinery Engineering Co. (H Shares) |
703,000 |
596,499 |
|
Qingdao Haier Co. Ltd. |
321,443 |
1,018,864 |
|
Tong Ren Tang Technologies Co. Ltd. (H Shares) |
387,000 |
480,357 |
|
Zhuzhou CSR Times Electric Co. Ltd. (H Shares) |
82,500 |
460,223 |
|
TOTAL CHINA |
3,156,724 |
||
Colombia - 0.3% |
|||
Organizacion Terpel SA (a) |
35,099 |
247,419 |
|
Egypt - 0.8% |
|||
Citadel Capital Corp. (a) |
1,411,500 |
598,814 |
|
Greece - 0.7% |
|||
Public Power Corp. of Greece (a) |
20,320 |
110,216 |
|
Titan Cement Co. SA (Reg.) |
20,200 |
450,814 |
|
TOTAL GREECE |
561,030 |
||
Hong Kong - 4.0% |
|||
China Power International Development Ltd. |
568,000 |
322,489 |
|
Far East Horizon Ltd. |
1,174,000 |
1,000,249 |
|
Techtronic Industries Co. Ltd. |
497,000 |
1,623,086 |
|
TOTAL HONG KONG |
2,945,824 |
||
India - 17.5% |
|||
Adani Ports & Special Economic Zone |
167,859 |
921,095 |
|
CMC Ltd. |
22,977 |
689,689 |
|
Edelweiss Financial Srvs Ltd. |
274,728 |
306,417 |
|
Exide Industries Ltd. |
326,672 |
977,949 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
GAIL India Ltd. |
46,973 |
$ 319,664 |
|
Grasim Industries Ltd. |
14,102 |
941,810 |
|
IDFC Ltd. (a) |
425,627 |
1,230,277 |
|
Iifl Holdings Ltd. |
239,330 |
688,592 |
|
IL&FS Investment Managers Ltd. |
186,866 |
54,961 |
|
Ipca Laboratories Ltd. (a) |
43,083 |
442,941 |
|
JK Cement Ltd. |
45,122 |
506,409 |
|
KPIT Cummins Infosystems Ltd. (a) |
189,802 |
632,551 |
|
Lupin Ltd. |
26,013 |
680,725 |
|
Mahindra Lifespace Developers Ltd. |
69,028 |
571,371 |
|
MindTree Consulting Ltd. |
18,193 |
387,301 |
|
Tech Mahindra Ltd. |
19,673 |
908,953 |
|
The Jammu & Kashmir Bank Ltd. |
237,424 |
582,393 |
|
VST Industries Ltd. (a) |
16,823 |
508,384 |
|
Yes Bank Ltd. |
115,343 |
1,598,963 |
|
TOTAL INDIA |
12,950,445 |
||
Israel - 1.5% |
|||
Bezeq The Israel Telecommunication Corp. Ltd. |
354,800 |
566,749 |
|
NICE Systems Ltd. sponsored ADR |
10,500 |
513,975 |
|
TOTAL ISRAEL |
1,080,724 |
||
Korea (South) - 12.4% |
|||
AMOREPACIFIC Group, Inc. |
757 |
855,976 |
|
Bgf Retail (a) |
1,505 |
110,093 |
|
Binggrea Co. Ltd. |
5,066 |
340,749 |
|
Daewoo International Corp. |
36,810 |
912,983 |
|
DGB Financial Group Co. Ltd. |
49,290 |
468,924 |
|
E-Mart Co. Ltd. |
3,366 |
633,569 |
|
Fila Korea Ltd. |
10,039 |
997,077 |
|
Hyundai HCN |
75,056 |
294,981 |
|
Hyundai Industrial Development & Construction Co. |
19,634 |
761,918 |
|
Hyundai Wia Corp. |
4,980 |
689,244 |
|
Kolon Life Science, Inc. |
8,586 |
341,255 |
|
Korean Reinsurance Co. |
100,712 |
929,148 |
|
Leeno Industrial, Inc. |
14,995 |
541,752 |
|
Sansung Life & Science Co. Ltd. (a) |
16,536 |
492,283 |
|
Sungshin Cement Manufacturing Co. Ltd. (a) |
64,867 |
794,797 |
|
TOTAL KOREA (SOUTH) |
9,164,749 |
||
Malaysia - 0.7% |
|||
Top Glove Corp. Bhd |
358,700 |
492,692 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Mexico - 6.0% |
|||
Banregio Grupo Financiero S.A.B. de CV (a) |
157,600 |
$ 815,363 |
|
Credito Real S.A.B. de CV |
212,621 |
428,519 |
|
Grupo Aeroportuario del Pacifico SA de CV Series B |
87,100 |
575,844 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
90,200 |
413,706 |
|
Grupo Comercial Chedraui S.A.B. de CV (a) |
53,900 |
149,372 |
|
Macquarie Mexican (REIT) |
624,800 |
1,028,724 |
|
Megacable Holdings S.A.B. de CV unit (a) |
148,300 |
541,476 |
|
Qualitas Controladora S.A.B. de CV (a) |
238,700 |
473,594 |
|
TOTAL MEXICO |
4,426,598 |
||
Nigeria - 0.8% |
|||
Transnational Corp. of Nigeria PLC |
10,428,137 |
156,797 |
|
Zenith Bank PLC |
4,745,784 |
405,119 |
|
TOTAL NIGERIA |
561,916 |
||
Panama - 1.0% |
|||
Copa Holdings SA Class A |
6,700 |
720,317 |
|
Philippines - 3.9% |
|||
Alliance Global Group, Inc. |
1,795,300 |
1,012,313 |
|
Nickel Asia Corp. |
859,350 |
527,739 |
|
PNOC Energy Development Corp. |
2,149,700 |
414,782 |
|
Robinsons Land Corp. |
1,464,000 |
919,330 |
|
TOTAL PHILIPPINES |
2,874,164 |
||
Poland - 0.0% |
|||
Cyfrowy Polsat SA |
3,400 |
21,866 |
|
Singapore - 0.4% |
|||
First Resources Ltd. |
240,000 |
329,647 |
|
South Africa - 0.6% |
|||
Alexander Forbes Group Holding (a) |
387,017 |
313,834 |
|
Blue Label Telecoms Ltd. |
176,300 |
127,764 |
|
TOTAL SOUTH AFRICA |
441,598 |
||
Sri Lanka - 0.7% |
|||
John Keells Holdings Ltd. |
340,102 |
549,668 |
|
Taiwan - 8.2% |
|||
Advantech Co. Ltd. |
71,000 |
526,332 |
|
ASPEED Tech, Inc. |
5,902 |
53,641 |
|
Chicony Electronics Co. Ltd. |
170,120 |
463,455 |
|
Chroma ATE, Inc. |
296,000 |
732,452 |
|
Cleanaway Co. Ltd. |
126,000 |
611,718 |
|
Cub Elecparts, Inc. |
47,000 |
478,152 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Taiwan - continued |
|||
EPISTAR Corp. |
178,000 |
$ 313,072 |
|
Everlight Electronics Co. Ltd. |
171,000 |
407,232 |
|
GeoVision, Inc. |
8,300 |
30,474 |
|
King's Town Bank |
406,000 |
425,398 |
|
Lextar Electronics Corp. |
296,000 |
279,024 |
|
MJC Probe, Inc. |
142,000 |
480,507 |
|
St.Shine Optical Co. Ltd. |
27,000 |
421,528 |
|
Universal Cement Corp. |
392,000 |
332,549 |
|
Voltronic Power Technology Corp. |
57,000 |
510,539 |
|
TOTAL TAIWAN |
6,066,073 |
||
Thailand - 0.7% |
|||
Thai Union Frozen Products PCL (For. Reg.) |
819,200 |
541,865 |
|
Turkey - 3.1% |
|||
Aksa Akrilik Kimya Sanayii |
234,000 |
908,719 |
|
Aselsan A/S |
130,000 |
632,384 |
|
Aygaz A/S |
89,000 |
378,367 |
|
Tupras Turkiye Petrol Rafinelleri A/S |
17,576 |
381,868 |
|
TOTAL TURKEY |
2,301,338 |
||
Uganda - 0.5% |
|||
Umeme Ltd. |
2,130,383 |
376,082 |
|
Vietnam - 0.3% |
|||
FTP Corp. |
104,000 |
231,740 |
|
TOTAL COMMON STOCKS (Cost $68,578,886) |
|
||
Nonconvertible Preferred Stocks - 2.3% |
|||
|
|
|
|
Brazil - 1.8% |
|||
Banco do Estado Rio Grande do Sul SA |
109,700 |
498,776 |
|
Braskem SA (PN-A) |
95,500 |
443,110 |
|
Marcopolo SA (PN) |
430,900 |
430,378 |
|
TOTAL BRAZIL |
1,372,264 |
||
Korea (South) - 0.5% |
|||
LG Chemical Ltd. |
2,835 |
373,331 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $2,302,531) |
|
Government Obligations - 0.1% |
||||
|
Principal Amount |
Value |
||
United States of America - 0.1% |
||||
U.S. Treasury Bills, yield at date of purchase 0% to 0.03% 2/26/15 to 3/26/15 (e) |
|
$ 70,000 |
$ 69,999 |
Money Market Funds - 5.0% |
|||
Shares |
|
||
Fidelity Cash Central Fund, 0.13% (b) |
2,643,949 |
2,643,949 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
1,027,975 |
1,027,975 |
|
TOTAL MONEY MARKET FUNDS (Cost $3,671,924) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $74,623,340) |
74,862,804 |
||
NET OTHER ASSETS (LIABILITIES) - (1.1)% |
(806,076) |
||
NET ASSETS - 100% |
$ 74,056,728 |
Futures Contracts |
|||||
|
Expiration Date |
Underlying Face Amount at Value |
Unrealized Appreciation/ |
||
Purchased |
|||||
Equity Index Contracts |
|||||
26 NYSE E-mini MSCI Emerging Markets Index Contracts (United States) |
March 2015 |
$ 1,236,950 |
$ (29,775) |
The face value of futures purchased as a percentage of net assets is 1.7% |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements which are not covered by the Fund's are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $50,000. |
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 Cash Central Fund |
$ 798 |
Fidelity Securities Lending Cash Central Fund |
3,276 |
Total |
$ 4,074 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 11,931,227 |
$ 2,509,360 |
$ 9,421,867 |
$ - |
Consumer Staples |
4,955,938 |
798,028 |
4,157,910 |
- |
Energy |
1,416,820 |
1,087,411 |
329,409 |
- |
Financials |
14,626,295 |
5,536,438 |
9,089,857 |
- |
Health Care |
4,491,374 |
1,067,448 |
3,423,926 |
- |
Industrials |
12,343,040 |
4,694,581 |
7,648,459 |
- |
Information Technology |
10,034,114 |
2,230,063 |
7,804,051 |
- |
Materials |
8,186,413 |
2,962,724 |
5,223,689 |
- |
Telecommunication Services |
566,749 |
566,749 |
- |
- |
Utilities |
2,568,911 |
1,511,976 |
1,056,935 |
- |
Government Obligations |
69,999 |
- |
69,999 |
- |
Money Market Funds |
3,671,924 |
3,671,924 |
- |
- |
Total Investments in Securities: |
$ 74,862,804 |
$ 26,636,702 |
$ 48,226,102 |
$ - |
Derivative Instruments: |
||||
Liabilities |
||||
Futures Contracts |
$ (29,775) |
$ (29,775) |
$ - |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 12,012,099 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $74,803,392. Net unrealized appreciation aggregated $59,412, of which $7,187,443 related to appreciated investment securities and $7,128,031 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
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. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Emerging Markets Fund
January 31, 2015
1.813065.110
EMF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.3% |
|||
Shares |
Value |
||
Argentina - 1.0% |
|||
Banco Macro SA sponsored ADR (d) |
238,100 |
$ 9,200,184 |
|
Grupo Financiero Galicia SA sponsored ADR (d) |
467,823 |
7,653,584 |
|
YPF SA Class D sponsored ADR |
464,600 |
10,894,870 |
|
TOTAL ARGENTINA |
27,748,638 |
||
Australia - 1.2% |
|||
Carsales.com Ltd. (d) |
1,350,821 |
10,756,339 |
|
SEEK Ltd. |
780,874 |
10,746,777 |
|
Sydney Airport unit |
2,969,594 |
11,475,167 |
|
TOTAL AUSTRALIA |
32,978,283 |
||
Bailiwick of Jersey - 0.4% |
|||
WPP PLC |
525,400 |
11,553,844 |
|
Bermuda - 2.2% |
|||
China Gas Holdings Ltd. |
8,315,000 |
12,851,229 |
|
China Resources Gas Group Ltd. |
4,516,000 |
10,991,819 |
|
Credicorp Ltd. (United States) |
142,032 |
20,469,652 |
|
Petra Diamonds Ltd. (a) |
4,532,500 |
10,472,390 |
|
Summit Ascent Holdings Ltd. (a) |
14,874,000 |
8,275,282 |
|
TOTAL BERMUDA |
63,060,372 |
||
Brazil - 5.5% |
|||
BB Seguridade Participacoes SA |
1,733,300 |
18,991,529 |
|
CCR SA |
2,774,200 |
15,797,923 |
|
Cetip SA - Mercados Organizado |
1,013,900 |
13,017,369 |
|
Cielo SA |
1,505,360 |
22,440,846 |
|
Iguatemi Empresa de Shopping Centers SA |
1,255,100 |
11,366,414 |
|
Kroton Educacional SA |
4,006,100 |
18,363,936 |
|
Qualicorp SA (a) |
1,426,300 |
14,112,835 |
|
Smiles SA |
698,200 |
10,993,739 |
|
Ultrapar Participacoes SA |
855,300 |
16,894,028 |
|
Weg SA |
1,261,095 |
15,039,612 |
|
TOTAL BRAZIL |
157,018,231 |
||
British Virgin Islands - 0.3% |
|||
Mail.Ru Group Ltd. GDR (a)(e) |
664,700 |
9,571,680 |
|
Cayman Islands - 5.9% |
|||
Alibaba Group Holding Ltd. sponsored ADR |
149,200 |
13,290,736 |
|
Autohome, Inc. ADR Class A (a)(d) |
301,100 |
10,725,182 |
|
Baidu.com, Inc. sponsored ADR (a) |
64,820 |
14,125,574 |
|
Bitauto Holdings Ltd. ADR (a) |
198,335 |
11,864,400 |
|
Sands China Ltd. |
2,626,600 |
12,787,204 |
|
Sino Biopharmaceutical Ltd. |
16,096,000 |
16,079,756 |
|
SouFun Holdings Ltd. ADR (d) |
1,831,100 |
11,188,021 |
|
Tencent Holdings Ltd. |
4,723,400 |
79,667,493 |
|
TOTAL CAYMAN ISLANDS |
169,728,366 |
||
China - 3.5% |
|||
China International Travel Service Corp. Ltd. (A Shares) |
1,706,900 |
12,493,828 |
|
|
|||
Shares |
Value |
||
China Pacific Insurance Group Co. Ltd. (H Shares) |
5,002,800 |
$ 24,042,269 |
|
Daqin Railway Co. Ltd. (A Shares) |
6,865,200 |
11,583,690 |
|
Kweichow Moutai Co. Ltd. |
498,900 |
14,044,214 |
|
PICC Property & Casualty Co. Ltd. (H Shares) |
9,416,783 |
18,365,768 |
|
SAIC Motor Corp. Ltd. |
3,323,000 |
11,958,254 |
|
Weifu High-Technology Co. Ltd. (B Shares) |
2,382,023 |
8,704,041 |
|
TOTAL CHINA |
101,192,064 |
||
Denmark - 0.4% |
|||
Novo Nordisk A/S Series B sponsored ADR |
280,999 |
12,521,315 |
|
Egypt - 0.6% |
|||
Commercial International Bank SAE sponsored GDR |
2,209,100 |
15,817,156 |
|
Finland - 0.4% |
|||
Kone Oyj (B Shares) (d) |
252,640 |
11,405,054 |
|
France - 1.7% |
|||
Ingenico SA |
111,574 |
11,684,967 |
|
LVMH Moet Hennessy - Louis Vuitton SA |
79,761 |
12,933,645 |
|
Safran SA |
179,900 |
12,032,558 |
|
Zodiac Aerospace |
372,100 |
12,391,339 |
|
TOTAL FRANCE |
49,042,509 |
||
Germany - 0.4% |
|||
Bayer AG |
76,400 |
11,054,813 |
|
Greece - 0.5% |
|||
Folli Follie SA |
440,696 |
13,191,662 |
|
Hong Kong - 0.9% |
|||
AIA Group Ltd. |
2,213,000 |
12,846,331 |
|
Galaxy Entertainment Group Ltd. |
2,348,000 |
12,264,027 |
|
TOTAL HONG KONG |
25,110,358 |
||
India - 11.2% |
|||
Adani Ports & Special Economic Zone |
2,658,456 |
14,587,780 |
|
Asian Paints India Ltd. |
424,389 |
5,860,901 |
|
Axis Bank Ltd. (a) |
1,619,289 |
15,444,731 |
|
Exide Industries Ltd. |
4,408,845 |
13,198,636 |
|
Grasim Industries Ltd. |
190,779 |
12,741,279 |
|
HCL Technologies Ltd. |
692,371 |
19,953,431 |
|
HDFC Bank Ltd. |
755,036 |
14,403,845 |
|
Housing Development Finance Corp. Ltd. |
1,763,788 |
35,792,341 |
|
ICICI Bank Ltd. (a) |
3,209,714 |
18,621,483 |
|
ITC Ltd. (a) |
3,759,276 |
22,264,848 |
|
Larsen & Toubro Ltd. (a) |
756,323 |
20,672,038 |
|
LIC Housing Finance Ltd. |
2,132,135 |
16,413,641 |
|
Lupin Ltd. |
574,399 |
15,031,237 |
|
Sun Pharmaceutical Industries Ltd. (a) |
1,450,239 |
21,424,261 |
|
Sun TV Ltd. |
1,966,259 |
12,890,920 |
|
Tata Consultancy Services Ltd. |
661,703 |
26,464,900 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
Tata Motors Ltd. (a) |
2,025,645 |
$ 19,076,776 |
|
Titan Co. Ltd. (a) |
2,202,842 |
15,819,548 |
|
TOTAL INDIA |
320,662,596 |
||
Indonesia - 6.9% |
|||
PT ACE Hardware Indonesia Tbk |
220,768,500 |
12,878,553 |
|
PT Astra International Tbk |
39,384,100 |
24,251,005 |
|
PT Bank Central Asia Tbk |
22,661,700 |
23,793,868 |
|
PT Bank Rakyat Indonesia Tbk |
23,884,200 |
21,853,587 |
|
PT Global Mediacom Tbk |
114,433,200 |
16,690,901 |
|
PT Indocement Tunggal Prakarsa Tbk |
7,832,600 |
14,118,207 |
|
PT Jasa Marga Tbk |
25,546,400 |
14,454,781 |
|
PT Matahari Department Store Tbk |
11,167,500 |
13,639,140 |
|
PT Media Nusantara Citra Tbk |
73,112,700 |
16,449,619 |
|
PT Semen Gresik (Persero) Tbk |
12,199,500 |
13,950,997 |
|
PT Surya Citra Media Tbk |
48,021,800 |
12,890,990 |
|
PT Tower Bersama Infrastructure Tbk |
17,333,400 |
12,978,807 |
|
TOTAL INDONESIA |
197,950,455 |
||
Kenya - 1.3% |
|||
East African Breweries Ltd. |
3,392,953 |
11,513,458 |
|
Kenya Commercial Bank Ltd. |
17,738,000 |
11,322,128 |
|
Safaricom Ltd. |
90,200,500 |
13,926,209 |
|
TOTAL KENYA |
36,761,795 |
||
Korea (South) - 6.3% |
|||
Coway Co. Ltd. |
208,838 |
16,602,876 |
|
KEPCO Plant Service & Engineering Co. Ltd. |
145,846 |
11,652,875 |
|
NAVER Corp. |
42,518 |
27,338,633 |
|
Samsung Electronics Co. Ltd. |
100,868 |
124,217,856 |
|
TOTAL KOREA (SOUTH) |
179,812,240 |
||
Malaysia - 0.7% |
|||
Astro Malaysia Holdings Bhd |
12,474,000 |
10,021,233 |
|
Tune Insurance Holdings Bhd |
22,506,000 |
11,195,562 |
|
TOTAL MALAYSIA |
21,216,795 |
||
Mexico - 5.9% |
|||
Banregio Grupo Financiero S.A.B. de CV (a) |
2,148,293 |
11,114,455 |
|
Compartamos S.A.B. de CV |
493,900 |
933,136 |
|
Fomento Economico Mexicano S.A.B. de CV unit (a) |
2,825,193 |
23,595,578 |
|
Grupo Aeroportuario del Pacifico SA de CV Series B |
2,183,657 |
14,436,800 |
|
Grupo Aeroportuario del Sureste SA de CV Series B (a) |
1,224,300 |
16,007,093 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
2,500,800 |
11,470,029 |
|
Grupo Financiero Banorte S.A.B. de CV Series O |
4,463,300 |
22,650,738 |
|
Grupo Mexico SA de CV Series B |
6,628,600 |
17,507,340 |
|
|
|||
Shares |
Value |
||
Grupo Televisa SA de CV (a) |
3,783,957 |
$ 24,628,096 |
|
Megacable Holdings S.A.B. de CV unit (a) |
3,566,652 |
13,022,640 |
|
Promotora y Operadora de Infraestructura S.A.B. de CV (a) |
1,191,300 |
13,409,129 |
|
TOTAL MEXICO |
168,775,034 |
||
Nigeria - 1.1% |
|||
Guaranty Trust Bank PLC GDR (Reg. S) |
2,070,096 |
10,971,509 |
|
Nestle Foods Nigeria PLC |
2,340,058 |
9,984,705 |
|
Nigerian Breweries PLC |
15,362,243 |
11,632,875 |
|
TOTAL NIGERIA |
32,589,089 |
||
Norway - 0.3% |
|||
Schibsted ASA (B Shares) |
152,300 |
9,856,457 |
|
Philippines - 3.8% |
|||
Alliance Global Group, Inc. |
28,001,200 |
15,788,991 |
|
GT Capital Holdings, Inc. |
578,085 |
15,787,656 |
|
Metropolitan Bank & Trust Co. |
7,191,278 |
15,455,838 |
|
Robinsons Land Corp. |
19,133,600 |
12,015,094 |
|
Robinsons Retail Holdings, Inc. |
7,913,270 |
14,168,729 |
|
SM Investments Corp. |
911,692 |
19,123,945 |
|
SM Prime Holdings, Inc. |
39,104,500 |
16,398,504 |
|
TOTAL PHILIPPINES |
108,738,757 |
||
Russia - 1.6% |
|||
Magnit OJSC GDR (Reg. S) |
473,834 |
18,100,459 |
|
NOVATEK OAO GDR (Reg. S) |
231,800 |
16,226,000 |
|
Sberbank of Russia sponsored ADR |
3,354,800 |
12,429,534 |
|
TOTAL RUSSIA |
46,755,993 |
||
South Africa - 10.6% |
|||
Alexander Forbes Group Holding (a) |
14,245,261 |
11,551,567 |
|
Aspen Pharmacare Holdings Ltd. |
636,890 |
23,847,991 |
|
Bidvest Group Ltd. |
778,698 |
21,490,964 |
|
Coronation Fund Managers Ltd. |
1,339,200 |
11,852,030 |
|
Discovery Ltd. |
1,573,400 |
15,496,937 |
|
FirstRand Ltd. |
4,984,500 |
22,182,905 |
|
Life Healthcare Group Holdings Ltd. |
4,473,464 |
16,647,752 |
|
Mr Price Group Ltd. |
820,288 |
18,579,476 |
|
MTN Group Ltd. |
2,083,800 |
35,984,544 |
|
Nampak Ltd. |
3,990,000 |
14,545,686 |
|
Naspers Ltd. Class N |
394,912 |
56,970,757 |
|
Remgro Ltd. |
805,100 |
18,629,821 |
|
Sanlam Ltd. |
3,356,300 |
20,116,808 |
|
Woolworths Holdings Ltd. |
2,069,100 |
15,358,042 |
|
TOTAL SOUTH AFRICA |
303,255,280 |
||
Spain - 0.5% |
|||
Amadeus IT Holding SA Class A |
332,200 |
13,359,988 |
|
Switzerland - 1.2% |
|||
Compagnie Financiere Richemont SA Series A |
156,353 |
12,989,512 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Switzerland - continued |
|||
Novartis AG |
114,618 |
$ 11,169,845 |
|
Roche Holding AG (participation certificate) |
40,904 |
11,024,341 |
|
TOTAL SWITZERLAND |
35,183,698 |
||
Taiwan - 5.6% |
|||
Delta Electronics, Inc. |
3,734,000 |
22,642,732 |
|
Giant Manufacturing Co. Ltd. |
1,555,000 |
13,474,349 |
|
Largan Precision Co. Ltd. |
192,000 |
15,851,314 |
|
Merida Industry Co. Ltd. |
1,920,600 |
13,170,853 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
21,459,000 |
93,689,403 |
|
TOTAL TAIWAN |
158,828,651 |
||
Thailand - 3.1% |
|||
Airports of Thailand PCL (For. Reg.) |
1,707,500 |
16,829,767 |
|
Bangkok Dusit Medical Services PCL (For. Reg.) |
21,864,600 |
12,383,858 |
|
Bumrungrad Hospital PCL (For. Reg.) |
3,123,900 |
14,844,023 |
|
Central Pattana PCL (For. Reg.) |
7,539,900 |
10,267,125 |
|
Kasikornbank PCL (For. Reg.) |
3,295,100 |
22,470,286 |
|
Thai Beverage PCL |
23,593,000 |
12,571,745 |
|
TOTAL THAILAND |
89,366,804 |
||
Turkey - 1.0% |
|||
Coca-Cola Icecek Sanayi A/S |
645,327 |
13,031,580 |
|
TAV Havalimanlari Holding A/S |
1,930,000 |
14,437,722 |
|
TOTAL TURKEY |
27,469,302 |
||
United Arab Emirates - 1.0% |
|||
DP World Ltd. |
620,039 |
12,183,766 |
|
First Gulf Bank PJSC |
3,390,520 |
15,692,365 |
|
TOTAL UNITED ARAB EMIRATES |
27,876,131 |
||
United Kingdom - 2.5% |
|||
Al Noor Hospitals Group PLC |
909,957 |
12,444,841 |
|
British American Tobacco PLC (United Kingdom) |
202,900 |
11,446,811 |
|
Diageo PLC |
394,093 |
11,665,397 |
|
Intertek Group PLC |
344,418 |
11,895,222 |
|
Johnson Matthey PLC |
231,000 |
11,346,069 |
|
Prudential PLC |
494,366 |
12,018,232 |
|
TOTAL UNITED KINGDOM |
70,816,572 |
||
United States of America - 5.8% |
|||
A.O. Smith Corp. |
212,700 |
12,636,507 |
|
Affiliated Managers Group, Inc. (a) |
57,400 |
11,796,848 |
|
American Tower Corp. |
119,900 |
11,624,305 |
|
Ball Corp. |
178,600 |
11,310,738 |
|
China Biologic Products, Inc. (a) |
173,400 |
11,815,476 |
|
Ecolab, Inc. |
117,000 |
12,141,090 |
|
Google, Inc. Class C (a) |
25,180 |
13,459,214 |
|
|
|||
Shares |
Value |
||
International Flavors & Fragrances, Inc. |
112,000 |
$ 11,884,320 |
|
Kansas City Southern |
101,606 |
11,185,805 |
|
Las Vegas Sands Corp. |
213,800 |
11,624,306 |
|
MasterCard, Inc. Class A |
143,500 |
11,771,305 |
|
Moody's Corp. |
124,700 |
11,388,851 |
|
PPG Industries, Inc. |
56,000 |
12,481,280 |
|
Visa, Inc. Class A |
47,700 |
12,159,207 |
|
TOTAL UNITED STATES OF AMERICA |
167,279,252 |
||
TOTAL COMMON STOCKS (Cost $2,416,964,118) |
|
||
Nonconvertible Preferred Stocks - 3.3% |
|||
|
|
|
|
Brazil - 2.4% |
|||
Ambev SA sponsored ADR |
5,290,670 |
34,812,609 |
|
Itau Unibanco Holding SA sponsored ADR |
2,865,138 |
34,725,473 |
|
TOTAL BRAZIL |
69,538,082 |
||
Colombia - 0.5% |
|||
Grupo Aval Acciones y Valores SA |
24,060,645 |
12,671,282 |
|
Germany - 0.4% |
|||
Henkel AG & Co. KGaA |
101,400 |
11,641,531 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $110,825,169) |
|
||
Money Market Funds - 1.6% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
26,521,236 |
26,521,236 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
19,346,410 |
19,346,410 |
|
TOTAL MONEY MARKET FUNDS (Cost $45,867,646) |
|
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $2,573,656,933) |
|
NET OTHER ASSETS (LIABILITIES) - (0.2)% |
(6,354,261) |
||
NET ASSETS - 100% |
$ 2,860,913,514 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(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 $9,571,680 or 0.3% of net assets. |
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 |
$ 13,933 |
Fidelity Securities Lending Cash Central Fund |
192,705 |
Total |
$ 206,638 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 499,328,865 |
$ 114,614,481 |
$ 384,714,384 |
$ - |
Consumer Staples |
220,474,539 |
134,312,795 |
86,161,744 |
- |
Energy |
44,014,898 |
44,014,898 |
- |
- |
Financials |
680,852,741 |
263,836,512 |
417,016,229 |
- |
Health Care |
204,402,344 |
61,949,280 |
142,453,064 |
- |
Industrials |
361,010,616 |
184,328,559 |
176,682,057 |
- |
Information Technology |
576,223,221 |
155,641,120 |
420,582,101 |
- |
Materials |
148,360,297 |
87,143,227 |
61,217,070 |
- |
Telecommunication Services |
62,889,560 |
13,926,209 |
48,963,351 |
- |
Utilities |
23,843,048 |
- |
23,843,048 |
- |
Money Market Funds |
45,867,646 |
45,867,646 |
- |
- |
Total Investments in Securities: |
$ 2,867,267,775 |
$ 1,105,634,727 |
$ 1,761,633,048 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 458,627,137 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $2,581,870,851. Net unrealized appreciation aggregated $285,396,924 of which $432,274,154 related to appreciated investment securities and $146,877,230 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Europe Fund
January 31, 2015
1.813067.110
EUR-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 94.5% |
|||
Shares |
Value |
||
Austria - 2.2% |
|||
Andritz AG |
275,800 |
$ 14,959,392 |
|
Erste Group Bank AG |
566,700 |
12,311,133 |
|
TOTAL AUSTRIA |
27,270,525 |
||
Bailiwick of Jersey - 2.6% |
|||
Shire PLC |
446,500 |
32,589,082 |
|
Belgium - 2.1% |
|||
Arseus NV |
235,257 |
9,615,448 |
|
KBC Groupe SA (a) |
301,761 |
16,270,335 |
|
TOTAL BELGIUM |
25,885,783 |
||
Canada - 0.9% |
|||
Suncor Energy, Inc. |
372,000 |
11,095,302 |
|
Denmark - 4.4% |
|||
Carlsberg A/S Series B |
150,800 |
11,107,011 |
|
DSV de Sammensluttede Vognmaend A/S |
430,000 |
13,569,633 |
|
Novo Nordisk A/S Series B |
508,700 |
22,673,119 |
|
William Demant Holding A/S (a) |
91,200 |
6,923,602 |
|
TOTAL DENMARK |
54,273,365 |
||
Finland - 4.6% |
|||
Amer Group PLC (A Shares) |
315,100 |
6,010,343 |
|
Huhtamaki Oyj |
462,300 |
12,689,072 |
|
Kesko Oyj |
315,800 |
11,551,364 |
|
Sampo Oyj (A Shares) |
215,700 |
10,461,364 |
|
Tikkurila Oyj |
140,200 |
2,534,816 |
|
Valmet Corp. |
1,116,500 |
14,382,753 |
|
TOTAL FINLAND |
57,629,712 |
||
France - 9.3% |
|||
Atos Origin SA |
110,343 |
8,177,012 |
|
bioMerieux SA |
202,300 |
22,089,521 |
|
Bollore Group (d) |
1,310,000 |
5,653,266 |
|
Christian Dior SA |
106,595 |
18,489,436 |
|
GDF Suez |
716,750 |
15,975,820 |
|
Kering SA (d) |
41,700 |
8,453,507 |
|
Publicis Groupe SA |
230,446 |
17,298,636 |
|
Rexel SA |
692,000 |
12,980,536 |
|
Safran SA |
95,700 |
6,400,866 |
|
TOTAL FRANCE |
115,518,600 |
||
Germany - 10.6% |
|||
adidas AG |
113,000 |
7,813,351 |
|
Bayer AG |
212,400 |
30,733,537 |
|
Brenntag AG |
262,100 |
14,311,079 |
|
CompuGroup Medical AG |
259,600 |
6,720,603 |
|
Continental AG |
83,500 |
18,937,049 |
|
Deutsche Annington Immobilien SE |
101,700 |
3,539,567 |
|
Deutsche Wohnen AG (Bearer) |
426,889 |
11,114,141 |
|
Fresenius SE & Co. KGaA |
359,900 |
20,643,432 |
|
|
|||
Shares |
Value |
||
GEA Group AG |
337,429 |
$ 15,345,208 |
|
MLP AG |
802,104 |
3,190,449 |
|
TOTAL GERMANY |
132,348,416 |
||
Ireland - 3.3% |
|||
Actavis PLC (a) |
33,000 |
8,795,820 |
|
DCC PLC (United Kingdom) |
149,700 |
7,954,869 |
|
Greencore Group PLC |
1,417,530 |
6,580,328 |
|
Ryanair Holdings PLC sponsored ADR |
140,900 |
9,296,582 |
|
United Drug PLC (United Kingdom) |
1,388,741 |
8,176,540 |
|
TOTAL IRELAND |
40,804,139 |
||
Italy - 2.2% |
|||
Amplifon SpA (d) |
2,188,000 |
13,103,932 |
|
World Duty Free SpA (a)(d) |
1,326,815 |
14,648,170 |
|
TOTAL ITALY |
27,752,102 |
||
Luxembourg - 0.4% |
|||
GAGFAH SA (a) |
239,500 |
5,336,922 |
|
Netherlands - 3.5% |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
1,643,700 |
20,435,156 |
|
Reed Elsevier NV |
613,089 |
14,989,149 |
|
Royal DSM NV |
140,300 |
7,486,212 |
|
TOTAL NETHERLANDS |
42,910,517 |
||
Norway - 0.9% |
|||
Telenor ASA |
522,800 |
11,253,270 |
|
Portugal - 0.7% |
|||
CTT Correios de Portugal SA |
757,700 |
8,005,479 |
|
Spain - 2.7% |
|||
Amadeus IT Holding SA Class A |
458,100 |
18,423,270 |
|
Red Electrica Corporacion SA |
173,000 |
14,771,224 |
|
TOTAL SPAIN |
33,194,494 |
||
Sweden - 12.5% |
|||
Elekta AB (B Shares) (d) |
1,328,802 |
14,260,910 |
|
Getinge AB (B Shares) |
809,100 |
19,977,657 |
|
H&M Hennes & Mauritz AB (B Shares) |
490,114 |
20,198,796 |
|
Hemfosa Fastigheter AB (a) |
650,500 |
13,993,981 |
|
Indutrade AB |
304,400 |
12,412,627 |
|
Kungsleden AB |
1,796,500 |
13,787,164 |
|
Lundbergfoeretagen AB |
4,900 |
214,733 |
|
Nordea Bank AB |
1,417,400 |
18,038,266 |
|
SKF AB (B Shares) |
699,400 |
16,525,187 |
|
Svenska Cellulosa AB (SCA) (B Shares) |
568,200 |
13,747,993 |
|
Svenska Handelsbanken AB (A Shares) |
269,100 |
12,774,949 |
|
TOTAL SWEDEN |
155,932,263 |
||
Switzerland - 6.9% |
|||
Julius Baer Group Ltd. |
335,990 |
13,758,684 |
|
Roche Holding AG (participation certificate) |
155,404 |
41,884,085 |
|
Sonova Holding AG Class B |
55,969 |
7,381,666 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Switzerland - continued |
|||
Syngenta AG (Switzerland) |
19,696 |
$ 6,415,654 |
|
Zurich Insurance Group AG |
49,338 |
16,410,178 |
|
TOTAL SWITZERLAND |
85,850,267 |
||
United Kingdom - 24.7% |
|||
Aberdeen Asset Management PLC |
1,907,757 |
12,577,150 |
|
Babcock International Group PLC |
915,800 |
13,876,542 |
|
BG Group PLC |
852,400 |
11,369,197 |
|
British American Tobacco PLC (United Kingdom) |
614,400 |
34,662,004 |
|
British Land Co. PLC |
1,047,800 |
13,091,139 |
|
Bunzl PLC |
564,623 |
16,132,755 |
|
Compass Group PLC |
820,517 |
14,224,780 |
|
Dechra Pharmaceuticals PLC |
515,500 |
6,716,259 |
|
Diageo PLC |
814,495 |
24,109,556 |
|
ITV PLC |
3,571,900 |
11,835,991 |
|
Land Securities Group PLC |
646,582 |
12,407,254 |
|
Lloyds Banking Group PLC (a) |
20,082,700 |
22,247,909 |
|
London Stock Exchange Group PLC |
369,600 |
13,165,755 |
|
Next PLC |
94,200 |
10,265,310 |
|
Prudential PLC |
994,030 |
24,165,260 |
|
Rolls-Royce Group PLC |
1,413,201 |
18,976,142 |
|
Royal & Sun Alliance Insurance Group PLC (a) |
1,269,065 |
8,683,789 |
|
Schroders PLC |
195,100 |
8,516,052 |
|
St. James's Place Capital PLC |
565,900 |
7,313,237 |
|
Standard Chartered PLC (United Kingdom) |
1,737,614 |
23,232,833 |
|
TOTAL UNITED KINGDOM |
307,568,914 |
||
TOTAL COMMON STOCKS (Cost $1,090,969,976) |
|
||
Nonconvertible Preferred Stocks - 1.7% |
|||
|
|
|
|
Germany - 1.7% |
|||
Volkswagen AG |
93,600 |
20,973,794 |
|
|
|||
Shares |
Value |
||
United Kingdom - 0.0% |
|||
Rolls-Royce Group PLC (C Shares) |
396,661,293 |
$ 597,451 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $20,282,816) |
|
||
Money Market Funds - 4.9% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
38,982,710 |
38,982,710 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
21,519,172 |
21,519,172 |
|
TOTAL MONEY MARKET FUNDS (Cost $60,501,882) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $1,171,754,674) |
1,257,292,279 |
||
NET OTHER ASSETS (LIABILITIES) - (1.1)% |
(13,280,889) |
||
NET ASSETS - 100% |
$ 1,244,011,390 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 11,771 |
Fidelity Securities Lending Cash Central Fund |
181,213 |
Total |
$ 192,984 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 184,138,312 |
$ 169,149,163 |
$ 14,989,149 |
$ - |
Consumer Staples |
101,758,256 |
42,986,696 |
58,771,560 |
- |
Energy |
22,464,499 |
11,095,302 |
11,369,197 |
- |
Financials |
317,037,400 |
250,189,075 |
66,848,325 |
- |
Health Care |
272,285,213 |
175,138,927 |
97,146,286 |
- |
Industrials |
201,380,367 |
201,380,367 |
- |
- |
Information Technology |
26,600,282 |
26,600,282 |
- |
- |
Materials |
29,125,754 |
22,710,100 |
6,415,654 |
- |
Telecommunication Services |
11,253,270 |
11,253,270 |
- |
- |
Utilities |
30,747,044 |
30,747,044 |
- |
- |
Money Market Funds |
60,501,882 |
60,501,882 |
- |
- |
Total Investments in Securities: |
$ 1,257,292,279 |
$ 1,001,752,108 |
$ 255,540,171 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 14,109,691 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,174,367,909. Net unrealized appreciation aggregated $82,924,370, of which $142,083,687 related to appreciated investment securities and $59,159,317 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Global Commodity Stock Fund
January 31, 2015
1.879386.105
GCS-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 98.7% |
|||
Shares |
Value |
||
CHEMICALS - 30.7% |
|||
Diversified Chemicals - 0.2% |
|||
Eastman Chemical Co. |
5,500 |
$ 389,895 |
|
FMC Corp. |
5,300 |
304,750 |
|
|
694,645 |
||
Fertilizers & Agricultural Chemicals - 30.5% |
|||
Agrium, Inc. |
101,000 |
10,775,612 |
|
CF Industries Holdings, Inc. |
34,272 |
10,465,983 |
|
China BlueChemical Ltd. (H Shares) |
966,000 |
335,813 |
|
Intrepid Potash, Inc. (a)(d) |
221,500 |
2,948,165 |
|
K&S AG |
62,200 |
1,968,008 |
|
Monsanto Co. |
202,200 |
23,855,555 |
|
Potash Corp. of Saskatchewan, Inc. (d) |
408,000 |
14,853,293 |
|
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR (d) |
90,600 |
2,161,716 |
|
Syngenta AG (Switzerland) |
35,693 |
11,626,418 |
|
The Mosaic Co. |
171,159 |
8,333,732 |
|
Uralkali OJSC GDR (Reg. S) |
30,700 |
382,215 |
|
Yara International ASA |
57,000 |
2,971,033 |
|
|
90,677,543 |
||
TOTAL CHEMICALS |
91,372,188 |
||
CONSTRUCTION & ENGINEERING - 0.1% |
|||
Construction & Engineering - 0.1% |
|||
Chiyoda Corp. |
5,000 |
38,510 |
|
Jacobs Engineering Group, Inc. (a) |
7,500 |
285,750 |
|
|
324,260 |
||
CONSTRUCTION MATERIALS - 0.1% |
|||
Construction Materials - 0.1% |
|||
Eagle Materials, Inc. |
2,600 |
185,172 |
|
West China Cement Ltd. |
1,576,000 |
176,084 |
|
|
361,256 |
||
CONTAINERS & PACKAGING - 0.6% |
|||
Paper Packaging - 0.6% |
|||
Rock-Tenn Co. Class A |
29,400 |
1,908,060 |
|
ELECTRICAL EQUIPMENT - 0.4% |
|||
Electrical Components & Equipment - 0.1% |
|||
OSRAM Licht AG |
7,799 |
360,270 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
ELECTRICAL EQUIPMENT - CONTINUED |
|||
Heavy Electrical Equipment - 0.3% |
|||
Vestas Wind Systems A/S (a) |
18,200 |
$ 714,473 |
|
TOTAL ELECTRICAL EQUIPMENT |
1,074,743 |
||
ENERGY EQUIPMENT & SERVICES - 1.1% |
|||
Oil & Gas Drilling - 0.2% |
|||
Ocean Rig UDW, Inc. (United States) |
21,947 |
179,307 |
|
Odfjell Drilling A/S |
142,532 |
165,668 |
|
Vantage Drilling Co. (a) |
705,782 |
275,255 |
|
|
620,230 |
||
Oil & Gas Equipment & Services - 0.9% |
|||
Dril-Quip, Inc. (a) |
5,326 |
395,349 |
|
Ezion Holdings Ltd. |
321,000 |
300,957 |
|
Halliburton Co. |
27,000 |
1,079,730 |
|
National Oilwell Varco, Inc. |
2,800 |
152,404 |
|
SBM Offshore NV (a)(d) |
62,800 |
687,428 |
|
|
2,615,868 |
||
TOTAL ENERGY EQUIPMENT & SERVICES |
3,236,098 |
||
FOOD & STAPLES RETAILING - 0.2% |
|||
Food Distributors - 0.2% |
|||
Andersons, Inc. |
13,200 |
593,736 |
|
FOOD PRODUCTS - 5.5% |
|||
Agricultural Products - 5.5% |
|||
Archer Daniels Midland Co. |
183,700 |
8,565,931 |
|
Bunge Ltd. |
55,100 |
4,933,103 |
|
China Agri-Industries Holdings Ltd. |
930,300 |
375,761 |
|
First Resources Ltd. |
1,037,300 |
1,424,762 |
|
Golden Agri-Resources Ltd. |
2,532,000 |
785,436 |
|
SLC Agricola SA |
53,100 |
282,989 |
|
|
16,367,982 |
||
HOUSEHOLD PRODUCTS - 0.2% |
|||
Household Products - 0.2% |
|||
Svenska Cellulosa AB (SCA) (B Shares) |
27,100 |
655,703 |
|
INDEPENDENT POWER PRODUCERS & RENEWABLE ELECTRICITY PRODUCERS - 0.2% |
|||
Independent Power Producers & Energy Traders - 0.2% |
|||
Dynegy, Inc. (a) |
26,300 |
718,516 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
MACHINERY - 1.7% |
|||
Agricultural & Farm Machinery - 1.4% |
|||
AGCO Corp. |
19,800 |
$ 858,132 |
|
Deere & Co. |
38,400 |
3,271,296 |
|
|
4,129,428 |
||
Construction Machinery & Heavy Trucks - 0.3% |
|||
Caterpillar, Inc. |
3,800 |
303,886 |
|
Cummins, Inc. |
3,100 |
432,326 |
|
Manitowoc Co., Inc. |
12,000 |
224,400 |
|
|
960,612 |
||
TOTAL MACHINERY |
5,090,040 |
||
METALS & MINING - 27.4% |
|||
Aluminum - 0.5% |
|||
Alcoa, Inc. |
83,900 |
1,313,035 |
|
Norsk Hydro ASA |
49,500 |
292,160 |
|
|
1,605,195 |
||
Diversified Metals & Mining - 15.9% |
|||
Anglo American PLC (United Kingdom) |
237,851 |
3,972,972 |
|
BHP Billiton PLC |
766,764 |
16,654,520 |
|
First Quantum Minerals Ltd. |
195,024 |
1,778,806 |
|
Freeport-McMoRan, Inc. |
200,500 |
3,370,405 |
|
Glencore Xstrata PLC |
1,465,749 |
5,494,993 |
|
Grupo Mexico SA de CV Series B |
485,211 |
1,281,531 |
|
Ivanhoe Mines Ltd. (a) |
709,500 |
424,349 |
|
Ivanhoe Mines Ltd. Class A warrants 12/10/15 (a)(e) |
422,500 |
9,975 |
|
Norilsk Nickel OJSC sponsored ADR |
78,100 |
1,323,795 |
|
Rio Tinto PLC |
257,187 |
11,301,562 |
|
Sesa Sterlite Ltd. |
200,897 |
651,197 |
|
Sumitomo Metal Mining Co. Ltd. |
6,000 |
85,752 |
|
Teck Resources Ltd. Class B (sub. vtg.) |
74,800 |
968,332 |
|
|
47,318,189 |
||
Gold - 6.4% |
|||
Agnico Eagle Mines Ltd. (Canada) |
31,300 |
1,055,239 |
|
AngloGold Ashanti Ltd. sponsored ADR (a) |
49,300 |
610,334 |
|
Argonaut Gold, Inc. (a) |
166,800 |
325,540 |
|
B2Gold Corp. (a) |
1,255,180 |
2,469,466 |
|
Barrick Gold Corp. |
129,000 |
1,649,681 |
|
Compania de Minas Buenaventura SA sponsored ADR |
30,700 |
350,594 |
|
Continental Gold Ltd. (a) |
169,500 |
282,789 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
METALS & MINING - CONTINUED |
|||
Gold - continued |
|||
Detour Gold Corp. (a) |
30,300 |
$ 309,987 |
|
Eldorado Gold Corp. |
155,550 |
746,718 |
|
Franco-Nevada Corp. |
22,900 |
1,321,521 |
|
Gold Fields Ltd. sponsored ADR |
88,200 |
520,380 |
|
Goldcorp, Inc. |
123,610 |
2,985,434 |
|
New Gold, Inc. (a) |
104,000 |
455,875 |
|
Newcrest Mining Ltd. (a) |
108,024 |
1,166,386 |
|
Newmont Mining Corp. |
74,500 |
1,873,675 |
|
Premier Gold Mines Ltd. (a) |
351,600 |
567,231 |
|
Randgold Resources Ltd. sponsored ADR |
15,000 |
1,278,900 |
|
Romarco Minerals, Inc. (a)(f) |
1,080,000 |
484,457 |
|
Royal Gold, Inc. |
2,100 |
152,166 |
|
Torex Gold Resources, Inc. (a) |
280,500 |
320,079 |
|
|
18,926,452 |
||
Precious Metals & Minerals - 0.4% |
|||
Aquarius Platinum Ltd. (United Kingdom) (a) |
1,288,500 |
281,407 |
|
Fresnillo PLC |
33,700 |
456,323 |
|
Impala Platinum Holdings Ltd. (a) |
44,000 |
285,477 |
|
|
1,023,207 |
||
Silver - 0.5% |
|||
Silver Wheaton Corp. |
53,300 |
1,224,386 |
|
Tahoe Resources, Inc. |
21,053 |
287,290 |
|
|
1,511,676 |
||
Steel - 3.7% |
|||
ArcelorMittal SA Class A unit (d) |
159,700 |
1,539,508 |
|
Fortescue Metals Group Ltd. (d) |
228,996 |
415,237 |
|
Hyundai Steel Co. |
8,527 |
507,506 |
|
JFE Holdings, Inc. |
43,300 |
953,785 |
|
Nippon Steel & Sumitomo Metal Corp. |
994,000 |
2,323,271 |
|
Nucor Corp. |
27,800 |
1,213,470 |
|
POSCO |
10,552 |
2,431,614 |
|
Steel Dynamics, Inc. |
60,900 |
1,037,736 |
|
Tata Steel Ltd. |
53,717 |
337,686 |
|
Thyssenkrupp AG |
12,000 |
313,100 |
|
|
11,072,913 |
||
TOTAL METALS & MINING |
81,457,632 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
OIL, GAS & CONSUMABLE FUELS - 26.8% |
|||
Coal & Consumable Fuels - 0.9% |
|||
China Shenhua Energy Co. Ltd. (H Shares) |
99,000 |
$ 271,759 |
|
Cloud Peak Energy, Inc. (a) |
43,900 |
298,081 |
|
CONSOL Energy, Inc. |
12,300 |
356,085 |
|
Peabody Energy Corp. (d) |
297,198 |
1,851,544 |
|
|
2,777,469 |
||
Integrated Oil & Gas - 12.7% |
|||
BG Group PLC |
257,950 |
3,440,503 |
|
BP PLC |
530,700 |
3,409,232 |
|
Cenovus Energy, Inc. |
18,800 |
356,116 |
|
Chevron Corp. |
87,300 |
8,950,869 |
|
Exxon Mobil Corp. |
37,061 |
3,239,873 |
|
Gazprom OAO sponsored ADR |
131,100 |
549,965 |
|
Hess Corp. |
12,700 |
857,123 |
|
Imperial Oil Ltd. |
11,800 |
438,681 |
|
LUKOIL Oil Co. sponsored ADR (United Kingdom) |
7,400 |
291,560 |
|
Occidental Petroleum Corp. |
29,600 |
2,368,000 |
|
PetroChina Co. Ltd. (H Shares) |
824,000 |
894,783 |
|
Statoil ASA |
21,000 |
351,672 |
|
Suncor Energy, Inc. |
222,532 |
6,637,257 |
|
Total SA |
101,600 |
5,215,190 |
|
YPF SA Class D sponsored ADR |
37,900 |
888,755 |
|
|
37,889,579 |
||
Oil & Gas Exploration & Production - 12.9% |
|||
Anadarko Petroleum Corp. |
81,100 |
6,629,925 |
|
Apache Corp. |
36,800 |
2,302,576 |
|
ARC Resources Ltd. |
16,800 |
304,084 |
|
Bonanza Creek Energy, Inc. (a) |
13,000 |
339,040 |
|
Cabot Oil & Gas Corp. |
104,300 |
2,763,950 |
|
Cairn Energy PLC (a) |
124,399 |
359,750 |
|
Canadian Natural Resources Ltd. |
34,700 |
1,006,019 |
|
Chesapeake Energy Corp. |
32,200 |
617,596 |
|
Cimarex Energy Co. |
22,500 |
2,322,000 |
|
Cobalt International Energy, Inc. (a) |
81,100 |
739,632 |
|
Concho Resources, Inc. (a) |
6,400 |
709,440 |
|
ConocoPhillips Co. |
58,200 |
3,665,436 |
|
Continental Resources, Inc. (a) |
7,800 |
354,120 |
|
Denbury Resources, Inc. |
46,200 |
318,780 |
|
Devon Energy Corp. |
18,400 |
1,108,968 |
|
Diamondback Energy, Inc. (a) |
6,600 |
455,334 |
|
Encana Corp. |
34,700 |
424,363 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
OIL, GAS & CONSUMABLE FUELS - CONTINUED |
|||
Oil & Gas Exploration & Production - continued |
|||
Energen Corp. |
6,000 |
$ 380,520 |
|
EOG Resources, Inc. |
57,500 |
5,119,225 |
|
EQT Corp. |
8,300 |
617,852 |
|
Kosmos Energy Ltd. (a) |
73,100 |
641,087 |
|
Marathon Oil Corp. |
30,800 |
819,280 |
|
Murphy Oil Corp. |
9,200 |
413,172 |
|
Noble Energy, Inc. |
45,900 |
2,191,266 |
|
NOVATEK OAO GDR (Reg. S) |
3,900 |
273,000 |
|
Pioneer Natural Resources Co. |
4,360 |
656,311 |
|
QEP Resources, Inc. |
14,900 |
301,278 |
|
Range Resources Corp. |
8,400 |
388,668 |
|
SM Energy Co. |
17,900 |
676,978 |
|
Southwestern Energy Co. (a) |
17,400 |
431,346 |
|
Tullow Oil PLC |
110,400 |
606,938 |
|
Whiting Petroleum Corp. (a) |
10,200 |
306,204 |
|
|
38,244,138 |
||
Oil & Gas Refining & Marketing - 0.1% |
|||
Valero Energy Corp. |
7,700 |
407,176 |
|
Oil & Gas Storage & Transport - 0.2% |
|||
Golar LNG Ltd. |
10,069 |
285,557 |
|
Petronet LNG Ltd. (a) |
56,889 |
164,825 |
|
|
450,382 |
||
TOTAL OIL, GAS & CONSUMABLE FUELS |
79,768,744 |
||
PAPER & FOREST PRODUCTS - 3.5% |
|||
Paper Products - 3.5% |
|||
Domtar Corp. |
7,900 |
302,570 |
|
Empresas CMPC SA |
481,880 |
1,208,541 |
|
International Paper Co. |
129,000 |
6,793,140 |
|
Stora Enso Oyj (R Shares) |
93,800 |
912,608 |
|
UPM-Kymmene Corp. |
62,300 |
1,097,520 |
|
|
10,314,379 |
||
TRADING COMPANIES & DISTRIBUTORS - 0.2% |
|||
Trading Companies & Distributors - 0.2% |
|||
Noble Group Ltd. |
614,700 |
480,846 |
|
TOTAL COMMON STOCKS (Cost $370,968,497) |
|
||
Nonconvertible Preferred Stocks - 1.2% |
|||
Shares |
Value |
||
METALS & MINING - 1.1% |
|||
Steel - 1.1% |
|||
Gerdau SA sponsored ADR (d) |
140,100 |
$ 483,345 |
|
Vale SA (PN-A) sponsored ADR |
448,700 |
2,808,862 |
|
|
3,292,207 |
||
OIL, GAS & CONSUMABLE FUELS - 0.1% |
|||
Integrated Oil & Gas - 0.1% |
|||
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) |
41,000 |
252,150 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $10,912,039) |
|
||
Money Market Funds - 2.2% |
|||
|
|
|
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
6,709,106 |
|
|
TOTAL INVESTMENT PORTFOLIO - 102.1% (Cost $388,589,642) |
303,977,646 |
||
NET OTHER ASSETS (LIABILITIES) - (2.1)% |
(6,387,534) |
||
NET ASSETS - 100% |
$ 297,590,112 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(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 $9,975 or 0.0% of net assets. |
(f) Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
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 |
$ 177 |
Fidelity Securities Lending Cash Central Fund |
22,714 |
Total |
$ 22,891 |
Other Information |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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: |
||||
Common Stocks |
$ 293,724,183 |
$ 223,344,667 |
$ 70,379,516 |
$ - |
Nonconvertible Preferred Stocks |
3,544,357 |
3,544,357 |
- |
- |
Money Market Funds |
6,709,106 |
6,709,106 |
- |
- |
Total Investments in Securities: |
$ 303,977,646 |
$ 233,598,130 |
$ 70,379,516 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $393,496,432. Net unrealized depreciation aggregated $89,518,786, of which $15,124,526 related to appreciated investment securities and $104,643,312 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Global Equity Income Fund
January 31, 2015
1.938168.102
GED-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.1% |
|||
Shares |
Value |
||
Australia - 0.4% |
|||
Woodside Petroleum Ltd. |
8,396 |
$ 222,989 |
|
Bailiwick of Jersey - 1.8% |
|||
Shire PLC |
14,400 |
1,051,025 |
|
Canada - 3.7% |
|||
Constellation Software, Inc. |
500 |
138,542 |
|
Corus Entertainment, Inc. Class B (non-vtg.) (e) |
13,600 |
230,859 |
|
Fairfax Financial Holdings Ltd. (sub. vtg.) |
641 |
340,501 |
|
Potash Corp. of Saskatchewan, Inc. (e) |
20,200 |
735,384 |
|
PrairieSky Royalty Ltd. |
5,200 |
112,004 |
|
Suncor Energy, Inc. |
19,300 |
575,643 |
|
TOTAL CANADA |
2,132,933 |
||
Cayman Islands - 1.1% |
|||
Shenzhou International Group Holdings Ltd. |
39,000 |
141,708 |
|
SITC International Holdings Co. Ltd. |
785,000 |
433,130 |
|
Sitoy Group Holdings Ltd. |
95,000 |
62,701 |
|
TOTAL CAYMAN ISLANDS |
637,539 |
||
Chile - 0.3% |
|||
Quinenco SA |
88,781 |
182,164 |
|
China - 0.6% |
|||
Daqin Railway Co. Ltd. (A Shares) |
160,900 |
271,487 |
|
Kweichow Moutai Co. Ltd. |
2,896 |
81,523 |
|
TOTAL CHINA |
353,010 |
||
Denmark - 0.6% |
|||
Spar Nord Bank A/S |
14,100 |
127,406 |
|
Vestas Wind Systems A/S (a) |
5,700 |
223,764 |
|
TOTAL DENMARK |
351,170 |
||
France - 1.9% |
|||
Renault SA |
4,500 |
346,848 |
|
Sanofi SA |
8,141 |
750,111 |
|
TOTAL FRANCE |
1,096,959 |
||
Germany - 2.8% |
|||
AURELIUS AG |
6,199 |
248,603 |
|
Gerry Weber International AG (Bearer) |
9,500 |
367,727 |
|
Muenchener Rueckversicherungs AG |
1,200 |
241,368 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - continued |
|||
OSRAM Licht AG |
9,655 |
$ 446,007 |
|
Siemens AG |
3,239 |
342,158 |
|
TOTAL GERMANY |
1,645,863 |
||
Greece - 0.2% |
|||
Greek Organization of Football Prognostics SA |
13,400 |
113,565 |
|
Hong Kong - 1.2% |
|||
HKT Trust/HKT Ltd. unit |
214,600 |
280,556 |
|
Techtronic Industries Co. Ltd. |
129,500 |
422,917 |
|
TOTAL HONG KONG |
703,473 |
||
Ireland - 3.5% |
|||
Accenture PLC Class A |
7,440 |
625,183 |
|
C&C Group PLC |
66,200 |
259,577 |
|
Greencore Group PLC |
74,186 |
344,379 |
|
Medtronic PLC |
11,300 |
806,820 |
|
TOTAL IRELAND |
2,035,959 |
||
Israel - 2.4% |
|||
Bezeq The Israel Telecommunication Corp. Ltd. |
251,000 |
400,941 |
|
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. |
4,496 |
177,944 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
14,650 |
832,999 |
|
TOTAL ISRAEL |
1,411,884 |
||
Italy - 0.1% |
|||
Astaldi SpA (e) |
6,905 |
43,929 |
|
Japan - 9.6% |
|||
Astellas Pharma, Inc. |
56,100 |
866,485 |
|
Broadleaf Co. Ltd. |
3,000 |
46,303 |
|
Daiichikosho Co. Ltd. |
10,400 |
301,180 |
|
Fukuda Denshi Co. Ltd. |
2,700 |
134,054 |
|
Hoya Corp. |
20,000 |
775,052 |
|
Japan Tobacco, Inc. |
25,600 |
697,258 |
|
KDDI Corp. |
6,000 |
423,534 |
|
Leopalace21 Corp. (a) |
34,700 |
224,520 |
|
Mitsubishi Electric Corp. |
22,000 |
254,446 |
|
NEC Corp. |
109,000 |
307,887 |
|
Nippon Telegraph & Telephone Corp. |
6,000 |
355,121 |
|
Suzuki Motor Corp. |
6,500 |
205,531 |
|
Tsuruha Holdings, Inc. |
7,100 |
477,091 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
United Arrows Ltd. |
12,700 |
$ 360,975 |
|
Workman Co. Ltd. |
2,500 |
122,853 |
|
TOTAL JAPAN |
5,552,290 |
||
Korea (South) - 1.6% |
|||
Coway Co. Ltd. |
1,493 |
118,695 |
|
Samsung Electronics Co. Ltd. |
655 |
806,625 |
|
TOTAL KOREA (SOUTH) |
925,320 |
||
Luxembourg - 0.9% |
|||
Altice SA |
5,800 |
485,651 |
|
Norway - 0.5% |
|||
Gjensidige Forsikring ASA |
17,400 |
293,908 |
|
Singapore - 0.7% |
|||
United Overseas Bank Ltd. |
23,819 |
407,323 |
|
South Africa - 1.9% |
|||
Lewis Group Ltd. |
94,400 |
735,669 |
|
Reunert Ltd. |
70,300 |
377,290 |
|
TOTAL SOUTH AFRICA |
1,112,959 |
||
Spain - 0.5% |
|||
Atresmedia Corporacion de Medios de Comunicacion SA |
18,315 |
269,461 |
|
Sweden - 2.9% |
|||
Meda AB (A Shares) |
21,010 |
296,327 |
|
Nordea Bank AB |
65,200 |
829,755 |
|
Svenska Handelsbanken AB (A Shares) |
11,580 |
549,736 |
|
TOTAL SWEDEN |
1,675,818 |
||
Switzerland - 3.7% |
|||
Banque Cantonale Vaudoise (Bearer) |
580 |
338,891 |
|
Roche Holding AG (participation certificate) |
3,467 |
934,417 |
|
TE Connectivity Ltd. |
7,000 |
464,730 |
|
UBS Group AG |
24,626 |
412,758 |
|
TOTAL SWITZERLAND |
2,150,796 |
||
Taiwan - 1.4% |
|||
ECLAT Textile Co. Ltd. |
31,000 |
318,612 |
|
King's Town Bank |
120,000 |
125,733 |
|
MediaTek, Inc. |
12,000 |
181,149 |
|
Vanguard International Semiconductor Corp. |
120,000 |
201,797 |
|
TOTAL TAIWAN |
827,291 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - 8.3% |
|||
British American Tobacco PLC (United Kingdom) |
10,700 |
$ 603,651 |
|
GlaxoSmithKline PLC |
35,700 |
786,068 |
|
Hilton Food Group PLC |
56,200 |
332,668 |
|
Indivior PLC (a) |
4,130 |
10,824 |
|
ITV PLC |
121,300 |
401,945 |
|
Lloyds Banking Group PLC (a) |
376,400 |
416,981 |
|
Reckitt Benckiser Group PLC |
4,130 |
349,542 |
|
Standard Chartered PLC (United Kingdom) |
14,398 |
192,509 |
|
Tesco PLC |
115,935 |
392,053 |
|
Vodafone Group PLC |
216,300 |
760,614 |
|
WH Smith PLC |
28,852 |
586,668 |
|
TOTAL UNITED KINGDOM |
4,833,523 |
||
United States of America - 42.5% |
|||
American Tower Corp. |
5,560 |
539,042 |
|
Amgen, Inc. |
6,620 |
1,007,961 |
|
Apple, Inc. |
10,850 |
1,271,191 |
|
ARAMARK Holdings Corp. |
11,204 |
350,909 |
|
Bank of America Corp. |
51,780 |
784,467 |
|
Capital One Financial Corp. |
8,530 |
624,481 |
|
Chevron Corp. |
7,465 |
765,386 |
|
CMS Energy Corp. |
7,900 |
298,067 |
|
Comcast Corp. Class A |
7,600 |
403,902 |
|
Community Trust Bancorp, Inc. |
7,898 |
249,419 |
|
CVB Financial Corp. |
22,310 |
325,949 |
|
CVS Health Corp. |
7,800 |
765,648 |
|
Danaher Corp. |
4,100 |
337,758 |
|
Darden Restaurants, Inc. |
4,920 |
301,990 |
|
Deere & Co. |
3,700 |
315,203 |
|
Dr. Pepper Snapple Group, Inc. |
4,241 |
327,702 |
|
Dun & Bradstreet Corp. |
1,750 |
201,443 |
|
E.I. du Pont de Nemours & Co. |
5,100 |
363,171 |
|
Exxon Mobil Corp. |
13,030 |
1,139,083 |
|
FedEx Corp. |
2,981 |
504,117 |
|
General Electric Co. |
22,900 |
547,081 |
|
H&R Block, Inc. |
11,310 |
387,707 |
|
IBM Corp. |
4,970 |
761,951 |
|
Johnson & Johnson |
9,900 |
991,386 |
|
JPMorgan Chase & Co. |
18,130 |
985,909 |
|
Kellogg Co. |
4,800 |
314,784 |
|
Lakeland Financial Corp. |
7,688 |
290,145 |
|
Lorillard, Inc. |
4,400 |
288,684 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
McDonald's Corp. |
5,200 |
$ 480,688 |
|
McGraw Hill Financial, Inc. |
4,340 |
388,170 |
|
Microsoft Corp. |
16,564 |
669,186 |
|
MPLX LP |
3,890 |
309,411 |
|
NiSource, Inc. |
14,000 |
605,640 |
|
Oracle Corp. |
26,626 |
1,115,363 |
|
PepsiCo, Inc. |
5,000 |
468,900 |
|
Procter & Gamble Co. |
10,100 |
851,329 |
|
SunTrust Banks, Inc. |
9,600 |
368,832 |
|
Target Corp. |
8,400 |
618,324 |
|
The Coca-Cola Co. |
19,300 |
794,581 |
|
Time Warner Cable, Inc. |
2,280 |
310,376 |
|
U.S. Bancorp |
11,880 |
497,891 |
|
United Technologies Corp. |
4,420 |
507,328 |
|
VF Corp. |
5,320 |
369,048 |
|
Wells Fargo & Co. |
17,157 |
890,791 |
|
TOTAL UNITED STATES OF AMERICA |
24,690,394 |
||
TOTAL COMMON STOCKS (Cost $50,894,882) |
|
Nonconvertible Bonds - 0.0% |
||||
|
Principal Amount (d) |
|
||
Canada - 0.0% |
||||
Constellation Software, Inc. 7.4% 3/31/40 (f) |
CAD |
2,400 |
|
Money Market Funds - 5.3% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
2,844,815 |
$ 2,844,815 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
267,700 |
267,700 |
|
TOTAL MONEY MARKET FUNDS (Cost $3,112,515) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.4% (Cost $54,009,457) |
58,321,977 |
||
NET OTHER ASSETS (LIABILITIES) - (0.4)% |
(251,099) |
||
NET ASSETS - 100% |
$ 58,070,878 |
Currency Abbreviations |
||
CAD |
- |
Canadian dollar |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Amount is stated in United States dollars unless otherwise noted. |
(e) Security or a portion of the security is on loan at period end. |
(f) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
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 |
$ 1,115 |
Fidelity Securities Lending Cash Central Fund |
2,558 |
Total |
$ 3,673 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 9,513,767 |
$ 6,025,668 |
$ 3,488,099 |
$ - |
Consumer Staples |
6,830,056 |
4,926,196 |
1,903,860 |
- |
Energy |
3,124,516 |
2,901,527 |
222,989 |
- |
Financials |
10,695,088 |
9,520,531 |
1,174,557 |
- |
Health Care |
8,468,477 |
3,946,317 |
4,522,160 |
- |
Industrials |
4,987,305 |
3,308,794 |
1,678,511 |
- |
Information Technology |
7,364,959 |
5,046,146 |
2,318,813 |
- |
Materials |
1,098,555 |
1,098,555 |
- |
- |
Telecommunication Services |
2,220,766 |
400,941 |
1,819,825 |
- |
Utilities |
903,707 |
903,707 |
- |
- |
Corporate Bonds |
2,266 |
- |
2,266 |
- |
Money Market Funds |
3,112,515 |
3,112,515 |
- |
- |
Total Investments in Securities: |
$ 58,321,977 |
$ 41,190,897 |
$ 17,131,080 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 1,550,130 |
Level 2 to Level 1 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $54,098,444. Net unrealized appreciation aggregated $4,223,533, of which $6,258,514 related to appreciated investment securities and $2,034,981 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International Capital Appreciation Fund
January 31, 2015
1.813010.110
IVF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 99.0% |
|||
Shares |
Value |
||
Australia - 4.4% |
|||
Amcor Ltd. |
541,311 |
$ 5,349,899 |
|
Brambles Ltd. |
617,913 |
5,062,310 |
|
Carsales.com Ltd. |
549,509 |
4,375,639 |
|
CSL Ltd. |
96,539 |
6,569,822 |
|
DuluxGroup Ltd. |
954,674 |
4,422,199 |
|
Flight Centre Travel Group Ltd. |
170,562 |
4,978,917 |
|
Ramsay Health Care Ltd. |
88,110 |
4,054,717 |
|
realestate.com.au Ltd. |
132,663 |
5,074,625 |
|
SEEK Ltd. |
374,503 |
5,154,097 |
|
Sydney Airport unit |
1,240,068 |
4,791,897 |
|
Transurban Group unit |
725,802 |
5,190,651 |
|
TOTAL AUSTRALIA |
55,024,773 |
||
Bailiwick of Jersey - 2.0% |
|||
Experian PLC |
328,768 |
5,808,583 |
|
Shire PLC |
104,300 |
7,612,634 |
|
Wolseley PLC |
91,239 |
5,307,322 |
|
WPP PLC |
299,700 |
6,590,573 |
|
TOTAL BAILIWICK OF JERSEY |
25,319,112 |
||
Belgium - 0.9% |
|||
Anheuser-Busch InBev SA NV |
88,589 |
10,804,861 |
|
Bermuda - 1.2% |
|||
Credicorp Ltd. (United States) |
33,760 |
4,865,491 |
|
Invesco Ltd. |
137,072 |
5,034,655 |
|
Signet Jewelers Ltd. |
40,900 |
4,953,399 |
|
TOTAL BERMUDA |
14,853,545 |
||
Brazil - 1.6% |
|||
BB Seguridade Participacoes SA |
476,200 |
5,217,658 |
|
CCR SA |
897,700 |
5,112,031 |
|
Cielo SA |
366,100 |
5,457,561 |
|
Qualicorp SA (a) |
427,000 |
4,225,044 |
|
TOTAL BRAZIL |
20,012,294 |
||
Canada - 3.7% |
|||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) |
136,200 |
5,336,742 |
|
Canadian National Railway Co. |
129,200 |
8,512,335 |
|
Canadian Pacific Railway Ltd. |
40,807 |
7,112,242 |
|
CI Financial Corp. |
190,200 |
4,849,673 |
|
Constellation Software, Inc. |
15,400 |
4,267,086 |
|
Jean Coutu Group, Inc. Class A (sub. vtg.) (d) |
207,000 |
4,152,381 |
|
Stantec, Inc. |
203,500 |
5,004,623 |
|
Valeant Pharmaceuticals International (Canada) (a) |
48,100 |
7,690,625 |
|
TOTAL CANADA |
46,925,707 |
||
Cayman Islands - 2.1% |
|||
Baidu.com, Inc. sponsored ADR (a) |
22,600 |
4,924,992 |
|
Bitauto Holdings Ltd. ADR (a) |
75,900 |
4,540,338 |
|
|
|||
Shares |
Value |
||
Sands China Ltd. |
1,201,600 |
$ 5,849,807 |
|
Tencent Holdings Ltd. |
640,300 |
10,799,656 |
|
TOTAL CAYMAN ISLANDS |
26,114,793 |
||
Denmark - 1.7% |
|||
Novo Nordisk A/S Series B sponsored ADR |
247,520 |
11,029,491 |
|
Pandora A/S |
80,800 |
5,800,308 |
|
Topdanmark A/S (a) |
125,000 |
4,191,439 |
|
TOTAL DENMARK |
21,021,238 |
||
Finland - 0.9% |
|||
Kone Oyj (B Shares) (d) |
111,100 |
5,015,443 |
|
Sampo Oyj (A Shares) |
135,800 |
6,586,246 |
|
TOTAL FINLAND |
11,601,689 |
||
France - 3.9% |
|||
Air Liquide SA |
56,391 |
7,136,845 |
|
Bureau Veritas SA |
242,290 |
5,154,053 |
|
Christian Dior SA |
30,649 |
5,316,222 |
|
Dassault Systemes SA |
81,234 |
5,041,350 |
|
Ingenico SA |
43,464 |
4,551,915 |
|
Publicis Groupe SA |
71,507 |
5,367,737 |
|
Safran SA |
86,200 |
5,765,461 |
|
Sodexo SA (d) |
49,700 |
4,949,469 |
|
Zodiac Aerospace |
156,180 |
5,200,966 |
|
TOTAL FRANCE |
48,484,018 |
||
Germany - 4.6% |
|||
Axel Springer Verlag AG |
77,630 |
4,786,984 |
|
Bayer AG |
87,200 |
12,617,535 |
|
CTS Eventim AG |
167,085 |
4,795,674 |
|
Deutsche Post AG |
214,956 |
6,988,241 |
|
Fresenius SE & Co. KGaA |
97,100 |
5,569,539 |
|
Henkel AG & Co. KGaA |
59,089 |
6,059,429 |
|
Linde AG |
35,100 |
6,738,744 |
|
ProSiebenSat.1 Media AG |
123,060 |
5,470,534 |
|
United Internet AG |
111,579 |
4,850,462 |
|
TOTAL GERMANY |
57,877,142 |
||
Hong Kong - 1.1% |
|||
AIA Group Ltd. |
1,588,800 |
9,222,888 |
|
Techtronic Industries Co. Ltd. |
1,474,000 |
4,813,742 |
|
TOTAL HONG KONG |
14,036,630 |
||
India - 4.9% |
|||
Amara Raja Batteries Ltd. (a) |
331,977 |
4,598,628 |
|
Axis Bank Ltd. (a) |
579,587 |
5,528,084 |
|
Exide Industries Ltd. |
1,586,502 |
4,749,467 |
|
GlaxoSmithKline Consumer Healthcare Ltd. |
28,559 |
2,588,160 |
|
Grasim Industries Ltd. sponsored GDR |
88,891 |
5,536,131 |
|
HDFC Bank Ltd. |
276,561 |
5,275,963 |
|
Housing Development Finance Corp. Ltd. |
343,394 |
6,968,454 |
|
ICICI Bank Ltd. (a) |
913,168 |
5,297,837 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
ITC Ltd. (a) |
963,652 |
$ 5,707,366 |
|
LIC Housing Finance Ltd. |
610,056 |
4,696,344 |
|
Sun Pharmaceutical Industries Ltd. (a) |
387,873 |
5,730,016 |
|
Titan Co. Ltd. (a) |
733,665 |
5,268,761 |
|
TOTAL INDIA |
61,945,211 |
||
Indonesia - 2.0% |
|||
PT ACE Hardware Indonesia Tbk |
83,329,500 |
4,861,035 |
|
PT Bank Central Asia Tbk |
5,096,400 |
5,351,014 |
|
PT Bank Rakyat Indonesia Tbk |
5,926,700 |
5,422,817 |
|
PT Global Mediacom Tbk |
37,453,200 |
5,462,817 |
|
PT Indocement Tunggal Prakarsa Tbk |
2,444,500 |
4,406,194 |
|
TOTAL INDONESIA |
25,503,877 |
||
Ireland - 3.2% |
|||
Actavis PLC (a) |
18,365 |
4,895,007 |
|
Allegion PLC |
86,700 |
4,682,667 |
|
Ingersoll-Rand PLC |
73,800 |
4,900,320 |
|
James Hardie Industries PLC CDI |
190,943 |
1,914,549 |
|
Jazz Pharmaceuticals PLC (a) |
24,000 |
4,064,160 |
|
Kerry Group PLC Class A |
71,400 |
5,181,398 |
|
Mallinckrodt PLC (a) |
45,600 |
4,833,144 |
|
Medtronic PLC |
67,400 |
4,812,360 |
|
Perrigo Co. PLC |
32,978 |
5,004,082 |
|
TOTAL IRELAND |
40,287,687 |
||
Israel - 1.0% |
|||
Check Point Software Technologies Ltd. (a) |
57,500 |
4,437,275 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
133,000 |
7,562,380 |
|
TOTAL ISRAEL |
11,999,655 |
||
Italy - 0.4% |
|||
Recordati SpA |
276,200 |
4,572,353 |
|
Japan - 6.1% |
|||
Astellas Pharma, Inc. |
439,000 |
6,780,517 |
|
Daikin Industries Ltd. |
82,960 |
5,772,854 |
|
Daito Trust Construction Co. Ltd. |
44,500 |
4,953,508 |
|
Dentsu, Inc. |
126,800 |
5,207,742 |
|
Hoya Corp. |
159,000 |
6,161,663 |
|
Japan Tobacco, Inc. |
245,500 |
6,686,599 |
|
Kansai Paint Co. Ltd. |
328,000 |
5,732,880 |
|
Keyence Corp. |
12,190 |
5,698,054 |
|
Misumi Group, Inc. |
140,000 |
5,229,478 |
|
OBIC Co. Ltd. |
153,900 |
5,162,539 |
|
Olympus Corp. (a) |
144,100 |
4,983,562 |
|
OMRON Corp. |
123,830 |
4,950,558 |
|
SK Kaken Co. Ltd. |
60,870 |
4,679,261 |
|
SMC Corp. |
18,200 |
4,880,638 |
|
TOTAL JAPAN |
76,879,853 |
||
|
|||
Shares |
Value |
||
Kenya - 0.7% |
|||
Kenya Commercial Bank Ltd. |
7,123,500 |
$ 4,546,915 |
|
Safaricom Ltd. |
30,623,400 |
4,727,999 |
|
TOTAL KENYA |
9,274,914 |
||
Korea (South) - 0.8% |
|||
Coway Co. Ltd. |
60,266 |
4,791,220 |
|
NAVER Corp. |
8,501 |
5,466,055 |
|
TOTAL KOREA (SOUTH) |
10,257,275 |
||
Mexico - 1.9% |
|||
Grupo Aeroportuario del Pacifico SA de CV Series B |
725,400 |
4,795,833 |
|
Grupo Aeroportuario del Sureste SA de CV Series B (a) |
353,600 |
4,623,138 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
1,024,700 |
4,699,832 |
|
Grupo Televisa SA de CV (CPO) sponsored ADR |
168,500 |
5,494,785 |
|
Megacable Holdings S.A.B. de CV unit (a) |
1,319,600 |
4,818,153 |
|
TOTAL MEXICO |
24,431,741 |
||
Netherlands - 0.9% |
|||
IMCD Group BV |
147,466 |
4,682,488 |
|
Reed Elsevier NV |
275,793 |
6,742,744 |
|
TOTAL NETHERLANDS |
11,425,232 |
||
New Zealand - 0.3% |
|||
Ryman Healthcare Group Ltd. |
704,218 |
4,226,919 |
|
Norway - 0.8% |
|||
Gjensidige Forsikring ASA |
299,000 |
5,050,480 |
|
Schibsted ASA (B Shares) |
71,190 |
4,607,230 |
|
TOTAL NORWAY |
9,657,710 |
||
Philippines - 1.3% |
|||
GT Capital Holdings, Inc. |
192,345 |
5,252,994 |
|
SM Investments Corp. |
252,553 |
5,297,633 |
|
SM Prime Holdings, Inc. |
13,364,900 |
5,604,582 |
|
TOTAL PHILIPPINES |
16,155,209 |
||
Singapore - 0.4% |
|||
Jardine Cycle & Carriage Ltd. |
161,800 |
5,050,127 |
|
South Africa - 3.2% |
|||
Aspen Pharmacare Holdings Ltd. |
134,600 |
5,040,022 |
|
Discovery Ltd. |
492,000 |
4,845,871 |
|
FirstRand Ltd. |
1,174,900 |
5,228,748 |
|
Life Healthcare Group Holdings Ltd. |
1,279,869 |
4,762,963 |
|
MTN Group Ltd. |
364,800 |
6,299,627 |
|
Naspers Ltd. Class N |
63,100 |
9,102,926 |
|
Sanlam Ltd. |
852,900 |
5,112,065 |
|
TOTAL SOUTH AFRICA |
40,392,222 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Spain - 0.9% |
|||
Amadeus IT Holding SA Class A |
147,100 |
$ 5,915,877 |
|
Grifols SA ADR |
145,860 |
5,026,336 |
|
TOTAL SPAIN |
10,942,213 |
||
Sweden - 1.7% |
|||
ASSA ABLOY AB (B Shares) |
96,324 |
5,265,445 |
|
Atlas Copco AB (A Shares) |
200,800 |
5,952,991 |
|
Hexagon AB (B Shares) |
141,430 |
4,486,884 |
|
HEXPOL AB (B Shares) |
50,500 |
5,074,902 |
|
TOTAL SWEDEN |
20,780,222 |
||
Switzerland - 5.7% |
|||
Compagnie Financiere Richemont SA Series A |
91,975 |
7,641,109 |
|
Geberit AG (Reg.) |
15,430 |
5,296,816 |
|
Novartis AG sponsored ADR |
203,700 |
19,840,376 |
|
Partners Group Holding AG |
19,170 |
5,148,467 |
|
Roche Holding AG (participation certificate) |
64,615 |
17,414,869 |
|
SGS SA (Reg.) |
2,852 |
5,435,635 |
|
Sika AG (Bearer) |
1,570 |
5,389,501 |
|
TE Connectivity Ltd. |
75,400 |
5,005,806 |
|
TOTAL SWITZERLAND |
71,172,579 |
||
Thailand - 0.9% |
|||
Airports of Thailand PCL (For. Reg.) |
536,600 |
5,288,933 |
|
Kasikornbank PCL (For. Reg.) |
822,900 |
5,611,605 |
|
TOTAL THAILAND |
10,900,538 |
||
Turkey - 0.4% |
|||
TAV Havalimanlari Holding A/S |
611,000 |
4,570,699 |
|
United Arab Emirates - 0.4% |
|||
First Gulf Bank PJSC |
1,056,936 |
4,891,823 |
|
United Kingdom - 16.5% |
|||
Al Noor Hospitals Group PLC |
364,300 |
4,982,275 |
|
Aon PLC |
53,830 |
4,847,392 |
|
Ashtead Group PLC |
351,360 |
5,757,897 |
|
Berkeley Group Holdings PLC |
136,200 |
4,970,650 |
|
British American Tobacco PLC (United Kingdom) |
206,567 |
11,653,688 |
|
Bunzl PLC |
173,442 |
4,955,691 |
|
Burberry Group PLC |
193,300 |
5,033,957 |
|
Capita Group PLC |
344,900 |
5,807,880 |
|
Compass Group PLC |
367,776 |
6,375,898 |
|
Diageo PLC sponsored ADR |
81,764 |
9,658,781 |
|
Diploma PLC |
424,059 |
4,831,899 |
|
Elementis PLC |
1,151,700 |
4,794,685 |
|
Essentra PLC |
403,400 |
5,043,089 |
|
Exova Group Ltd. PLC (a) |
2,239,900 |
5,060,606 |
|
Halma PLC |
460,300 |
4,828,861 |
|
Hargreaves Lansdown PLC |
345,100 |
5,255,073 |
|
Howden Joinery Group PLC |
757,590 |
4,848,458 |
|
Imperial Tobacco Group PLC |
164,661 |
7,747,907 |
|
|
|||
Shares |
Value |
||
InterContinental Hotel Group PLC |
120,700 |
$ 4,813,238 |
|
Intertek Group PLC |
156,850 |
5,417,155 |
|
ITV PLC |
1,487,146 |
4,927,867 |
|
Johnson Matthey PLC |
108,494 |
5,328,920 |
|
Legal & General Group PLC |
1,550,398 |
6,256,026 |
|
London Stock Exchange Group PLC |
145,454 |
5,181,309 |
|
Meggitt PLC |
623,400 |
5,061,022 |
|
Melrose PLC |
1,292,400 |
5,158,524 |
|
Persimmon PLC |
217,200 |
5,208,175 |
|
Prudential PLC |
380,362 |
9,246,750 |
|
Reckitt Benckiser Group PLC |
90,730 |
7,678,920 |
|
Rightmove PLC |
143,454 |
5,025,798 |
|
Schroders PLC |
114,404 |
4,993,698 |
|
Spire Healthcare Group PLC |
1,035,195 |
5,005,066 |
|
St. James's Place Capital PLC |
372,076 |
4,808,411 |
|
Standard Life PLC |
974,267 |
5,913,787 |
|
The Restaurant Group PLC |
469,385 |
5,086,776 |
|
Whitbread PLC |
76,818 |
5,790,949 |
|
TOTAL UNITED KINGDOM |
207,357,078 |
||
United States of America - 16.5% |
|||
A.O. Smith Corp. |
79,430 |
4,718,936 |
|
Affiliated Managers Group, Inc. (a) |
24,600 |
5,055,792 |
|
American Tower Corp. |
48,900 |
4,740,855 |
|
Ameriprise Financial, Inc. |
38,400 |
4,797,696 |
|
AMETEK, Inc. |
102,060 |
4,888,674 |
|
Amgen, Inc. |
29,300 |
4,461,218 |
|
Amphenol Corp. Class A |
83,592 |
4,489,726 |
|
AutoZone, Inc. (a) |
7,650 |
4,566,744 |
|
Ball Corp. |
77,400 |
4,901,742 |
|
Biogen Idec, Inc. (a) |
13,100 |
5,097,996 |
|
BlackRock, Inc. Class A |
14,100 |
4,801,191 |
|
Danaher Corp. |
58,761 |
4,840,731 |
|
Ecolab, Inc. |
49,620 |
5,149,067 |
|
Fidelity National Information Services, Inc. |
72,330 |
4,515,562 |
|
Fiserv, Inc. (a) |
60,285 |
4,372,471 |
|
Google, Inc. Class C (a) |
10,153 |
5,426,982 |
|
Home Depot, Inc. |
44,300 |
4,625,806 |
|
International Flavors & Fragrances, Inc. |
41,700 |
4,424,787 |
|
Kansas City Southern |
44,450 |
4,893,501 |
|
Las Vegas Sands Corp. |
93,816 |
5,100,776 |
|
MasterCard, Inc. Class A |
61,130 |
5,014,494 |
|
McGraw Hill Financial, Inc. |
53,815 |
4,813,214 |
|
McKesson Corp. |
22,500 |
4,784,625 |
|
Mettler-Toledo International, Inc. (a) |
15,600 |
4,741,620 |
|
Moody's Corp. |
54,740 |
4,999,404 |
|
NIKE, Inc. Class B |
50,160 |
4,627,260 |
|
Pall Corp. |
46,700 |
4,518,692 |
|
PPG Industries, Inc. |
20,993 |
4,678,920 |
|
Priceline Group, Inc. (a) |
4,863 |
4,909,101 |
|
Roper Industries, Inc. |
30,300 |
4,676,502 |
|
SBA Communications Corp. Class A (a) |
42,900 |
5,006,430 |
|
Sherwin-Williams Co. |
16,060 |
4,356,596 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
The Walt Disney Co. |
49,767 |
$ 4,526,806 |
|
Tiffany & Co., Inc. |
57,300 |
4,964,472 |
|
TransDigm Group, Inc. |
24,400 |
5,014,932 |
|
Union Pacific Corp. |
44,400 |
5,204,124 |
|
United Technologies Corp. |
41,308 |
4,741,332 |
|
Valspar Corp. |
57,600 |
4,805,568 |
|
Verisk Analytics, Inc. (a) |
66,730 |
4,294,076 |
|
Visa, Inc. Class A |
19,930 |
5,080,356 |
|
Williams-Sonoma, Inc. |
57,600 |
4,507,200 |
|
Wyndham Worldwide Corp. |
55,530 |
4,652,859 |
|
Yahoo!, Inc. (a) |
121,700 |
5,353,583 |
|
TOTAL UNITED STATES OF AMERICA |
206,142,419 |
||
TOTAL COMMON STOCKS (Cost $1,106,725,829) |
|
||
Nonconvertible Preferred Stocks - 0.4% |
|||
|
|
|
|
Germany - 0.4% |
|||
Sartorius AG (non-vtg.) |
38,444 |
|
|
Money Market Funds - 2.0% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
17,435,013 |
$ 17,435,013 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
7,206,667 |
7,206,667 |
|
TOTAL MONEY MARKET FUNDS (Cost $24,641,680) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.4% (Cost $1,135,216,611) |
1,270,465,673 |
||
NET OTHER ASSETS (LIABILITIES) - (1.4)% |
(17,323,641) |
||
NET ASSETS - 100% |
$ 1,253,142,032 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 5,903 |
Fidelity Securities Lending Cash Central Fund |
46,016 |
Total |
$ 51,919 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 243,795,496 |
$ 146,110,047 |
$ 97,685,449 |
$ - |
Consumer Staples |
76,569,633 |
38,136,638 |
38,432,995 |
- |
Financials |
210,466,219 |
116,846,695 |
93,619,524 |
- |
Health Care |
202,921,908 |
139,972,786 |
62,949,122 |
- |
Industrials |
256,313,969 |
205,046,850 |
51,267,119 |
- |
Information Technology |
135,175,745 |
92,561,581 |
42,614,164 |
- |
Materials |
104,546,967 |
78,041,985 |
26,504,982 |
- |
Telecommunication Services |
16,034,056 |
9,734,429 |
6,299,627 |
- |
Money Market Funds |
24,641,680 |
24,641,680 |
- |
- |
Total Investments in Securities: |
$ 1,270,465,673 |
$ 851,092,691 |
$ 419,372,982 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 46,510,176 |
Level 2 to Level 1 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,137,248,672. Net unrealized appreciation aggregated $133,217,001, of which $157,957,186 related to appreciated investment securities and $24,740,185 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International Discovery Fund
January 31, 2015
1.813016.110
IGI-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 92.5% |
|||
Shares |
Value (000s) |
||
Australia - 3.4% |
|||
Ansell Ltd. |
2,477,637 |
$ 43,489 |
|
Asaleo Care Ltd. (a) |
16,014,918 |
20,462 |
|
Australia & New Zealand Banking Group Ltd. |
6,436,881 |
164,317 |
|
Flight Centre Travel Group Ltd. |
578,765 |
16,895 |
|
G8 Education Ltd. |
5,872,272 |
19,057 |
|
Greencross Ltd. |
1,142,925 |
7,876 |
|
Ramsay Health Care Ltd. |
1,205,214 |
55,463 |
|
Spotless Group Holdings Ltd. |
18,819,178 |
27,165 |
|
Woodside Petroleum Ltd. |
643,861 |
17,100 |
|
TOTAL AUSTRALIA |
371,824 |
||
Austria - 0.2% |
|||
Andritz AG |
451,400 |
24,484 |
|
Bailiwick of Jersey - 1.8% |
|||
MySale Group PLC (f) |
8,497,500 |
8,159 |
|
Shire PLC |
1,718,300 |
125,415 |
|
Wolseley PLC |
1,116,388 |
64,940 |
|
TOTAL BAILIWICK OF JERSEY |
198,514 |
||
Belgium - 2.7% |
|||
Anheuser-Busch InBev SA NV |
1,497,927 |
182,696 |
|
Arseus NV |
250,764 |
10,249 |
|
KBC Groupe SA (a) |
1,899,208 |
102,401 |
|
TOTAL BELGIUM |
295,346 |
||
Bermuda - 0.9% |
|||
BW Offshore Ltd. |
8,614,100 |
8,262 |
|
PAX Global Technology Ltd. (a)(f) |
66,564,000 |
62,326 |
|
Travelport Worldwide Ltd. (e) |
1,916,100 |
29,872 |
|
TOTAL BERMUDA |
100,460 |
||
Canada - 2.4% |
|||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) |
793,600 |
31,096 |
|
Constellation Software, Inc. |
283,100 |
78,442 |
|
Imperial Oil Ltd. |
948,600 |
35,265 |
|
Potash Corp. of Saskatchewan, Inc. |
806,500 |
29,361 |
|
PrairieSky Royalty Ltd. (e) |
1,517,200 |
32,679 |
|
Suncor Energy, Inc. |
686,700 |
20,482 |
|
TransForce, Inc. |
1,400,200 |
31,779 |
|
TOTAL CANADA |
259,104 |
||
Cayman Islands - 1.3% |
|||
Alibaba Group Holding Ltd. sponsored ADR |
389,200 |
34,670 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
Cayman Islands - continued |
|||
Baidu.com, Inc. sponsored ADR (a) |
196,700 |
$ 42,865 |
|
ENN Energy Holdings Ltd. |
3,238,000 |
19,141 |
|
Greatview Aseptic Pack Co. Ltd. |
26,164,000 |
11,927 |
|
WuXi PharmaTech Cayman, Inc. sponsored ADR (a) |
834,100 |
33,447 |
|
TOTAL CAYMAN ISLANDS |
142,050 |
||
China - 0.3% |
|||
Daqin Railway Co. Ltd. (A Shares) |
7,059,599 |
11,912 |
|
Kweichow Moutai Co. Ltd. |
603,257 |
16,982 |
|
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares) |
677,065 |
2,221 |
|
TOTAL CHINA |
31,115 |
||
Cyprus - 0.0% |
|||
SPDI Secure Property Development & Investment PLC (a) |
525,230 |
253 |
|
Denmark - 1.2% |
|||
ISS Holdings A/S (a) |
380,700 |
11,262 |
|
Novo Nordisk A/S Series B |
2,278,345 |
101,547 |
|
Vestas Wind Systems A/S (a) |
426,800 |
16,755 |
|
TOTAL DENMARK |
129,564 |
||
Finland - 0.8% |
|||
Sampo Oyj (A Shares) |
1,724,800 |
83,652 |
|
France - 7.8% |
|||
Accor SA |
1,174,000 |
58,802 |
|
Air Liquide SA |
348,500 |
44,106 |
|
Atos Origin SA |
526,844 |
39,042 |
|
AXA SA |
5,369,500 |
126,538 |
|
BNP Paribas SA |
829,045 |
43,820 |
|
Havas SA |
5,882,368 |
45,532 |
|
Ingenico SA |
253,975 |
26,598 |
|
Numericable Group SA (a) |
1,507,128 |
78,681 |
|
Rexel SA |
1,277,682 |
23,967 |
|
Schneider Electric SA |
863,300 |
65,360 |
|
Sodexo SA (e) |
437,900 |
43,609 |
|
SR Teleperformance SA |
294,600 |
21,169 |
|
Total SA |
3,560,328 |
182,754 |
|
Unibail-Rodamco |
158,900 |
44,907 |
|
TOTAL FRANCE |
844,885 |
||
Germany - 7.4% |
|||
Aareal Bank AG |
1,035,858 |
39,370 |
|
Allianz SE |
130,682 |
21,548 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
Germany - continued |
|||
Bayer AG |
1,213,400 |
$ 175,575 |
|
Beiersdorf AG |
246,600 |
21,680 |
|
Continental AG |
308,100 |
69,874 |
|
Deutsche Annington Immobilien SE |
811,100 |
28,230 |
|
Deutsche Boerse AG |
447,994 |
34,439 |
|
Drillisch AG |
2,005,100 |
78,169 |
|
Fresenius SE & Co. KGaA |
476,000 |
27,303 |
|
GEA Group AG |
1,621,621 |
73,746 |
|
KION Group AG |
1,417,349 |
55,095 |
|
LEG Immobilien AG |
817,119 |
62,723 |
|
ProSiebenSat.1 Media AG |
601,773 |
26,751 |
|
Siemens AG (e) |
768,388 |
81,170 |
|
TOTAL GERMANY |
795,673 |
||
Hong Kong - 2.6% |
|||
AIA Group Ltd. |
21,862,800 |
126,912 |
|
Hutchison Whampoa Ltd. |
1,867,000 |
24,708 |
|
Techtronic Industries Co. Ltd. |
39,340,000 |
128,475 |
|
TOTAL HONG KONG |
280,095 |
||
India - 4.0% |
|||
Bharti Infratel Ltd. |
11,032,464 |
64,197 |
|
Container Corp. of India Ltd. |
470,441 |
11,094 |
|
Edelweiss Financial Srvs Ltd. |
18,905,503 |
21,086 |
|
Housing Development Finance Corp. Ltd. |
7,555,494 |
153,323 |
|
Info Edge India Ltd. |
1,609,886 |
22,051 |
|
Lupin Ltd. |
2,986,357 |
78,149 |
|
The Jammu & Kashmir Bank Ltd. |
7,127,060 |
17,482 |
|
Titan Co. Ltd. (a) |
2,240,879 |
16,093 |
|
Yes Bank Ltd. |
3,138,775 |
43,512 |
|
TOTAL INDIA |
426,987 |
||
Indonesia - 0.8% |
|||
PT Bank Central Asia Tbk |
41,340,800 |
43,406 |
|
PT Bank Rakyat Indonesia Tbk |
44,283,400 |
40,518 |
|
TOTAL INDONESIA |
83,924 |
||
Ireland - 2.7% |
|||
Actavis PLC (a) |
499,000 |
133,003 |
|
Bank of Ireland (a) |
63,040,200 |
18,929 |
|
Glanbia PLC |
2,403,800 |
38,843 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
Ireland - continued |
|||
James Hardie Industries PLC CDI |
2,202,628 |
$ 22,085 |
|
Kerry Group PLC Class A |
1,026,200 |
74,470 |
|
TOTAL IRELAND |
287,330 |
||
Israel - 0.2% |
|||
Frutarom Industries Ltd. |
735,926 |
23,043 |
|
Italy - 1.8% |
|||
Assicurazioni Generali SpA |
1,321,900 |
27,933 |
|
De Longhi SpA |
2,655,300 |
47,948 |
|
Intesa Sanpaolo SpA |
9,734,800 |
28,467 |
|
Telecom Italia SpA (a)(e) |
52,268,300 |
60,734 |
|
World Duty Free SpA (a) |
2,234,410 |
24,668 |
|
TOTAL ITALY |
189,750 |
||
Japan - 13.5% |
|||
ACOM Co. Ltd. (a) |
10,936,600 |
29,752 |
|
Aozora Bank Ltd. |
11,154,000 |
40,591 |
|
Astellas Pharma, Inc. |
10,179,000 |
157,218 |
|
Coca-Cola Central Japan Co. Ltd. |
1,583,700 |
26,369 |
|
Dentsu, Inc. |
891,700 |
36,623 |
|
Don Quijote Holdings Co. Ltd. |
890,400 |
64,828 |
|
Hitachi Ltd. |
6,601,000 |
49,851 |
|
Hoya Corp. |
2,503,400 |
97,013 |
|
Japan Exchange Group, Inc. |
1,884,900 |
43,862 |
|
Japan Tobacco, Inc. |
762,300 |
20,763 |
|
KDDI Corp. |
1,786,400 |
126,100 |
|
Keyence Corp. |
152,760 |
71,406 |
|
NEC Corp. |
25,937,000 |
73,263 |
|
Nidec Corp. |
238,300 |
16,216 |
|
Nippon Kanzai Co. Ltd. |
7,900 |
172 |
|
Olympus Corp. (a) |
1,488,000 |
51,461 |
|
OMRON Corp. |
1,433,900 |
57,325 |
|
ORIX Corp. |
3,652,900 |
41,975 |
|
Rakuten, Inc. |
5,492,800 |
76,044 |
|
Seven Bank Ltd. |
17,627,500 |
78,897 |
|
Ship Healthcare Holdings, Inc. |
1,067,400 |
26,490 |
|
SoftBank Corp. |
1,138,600 |
67,009 |
|
Sony Corp. |
1,945,700 |
45,765 |
|
Sundrug Co. Ltd. |
818,400 |
34,739 |
|
Toshiba Plant Systems & Services Corp. |
1,756,200 |
26,919 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
Japan - continued |
|||
Tsuruha Holdings, Inc. |
1,202,100 |
$ 80,776 |
|
VT Holdings Co. Ltd. |
3,932,700 |
15,827 |
|
TOTAL JAPAN |
1,457,254 |
||
Korea (South) - 0.8% |
|||
Naturalendo Tech Co. Ltd. |
167,866 |
7,886 |
|
NAVER Corp. |
65,859 |
42,347 |
|
Samsung Electronics Co. Ltd. |
25,699 |
31,648 |
|
TOTAL KOREA (SOUTH) |
81,881 |
||
Luxembourg - 1.2% |
|||
Altice SA |
753,100 |
63,059 |
|
Eurofins Scientific SA |
42,400 |
10,948 |
|
Grand City Properties SA (a) |
3,029,362 |
49,636 |
|
TOTAL LUXEMBOURG |
123,643 |
||
Marshall Islands - 0.2% |
|||
Hoegh LNG Partners LP (f) |
722,555 |
15,867 |
|
Netherlands - 3.6% |
|||
AerCap Holdings NV (a) |
1,657,500 |
65,521 |
|
IMCD Group BV |
1,885,700 |
59,877 |
|
ING Groep NV (Certificaten Van Aandelen) (a) |
5,893,200 |
73,267 |
|
Royal DSM NV |
780,437 |
41,643 |
|
Unilever NV (Certificaten Van Aandelen) (Bearer) |
3,456,200 |
149,877 |
|
TOTAL NETHERLANDS |
390,185 |
||
New Zealand - 0.7% |
|||
EBOS Group Ltd. |
4,530,317 |
31,148 |
|
Ryman Healthcare Group Ltd. |
7,248,326 |
43,507 |
|
TOTAL NEW ZEALAND |
74,655 |
||
Philippines - 0.7% |
|||
Alliance Global Group, Inc. |
77,113,366 |
43,482 |
|
SM Investments Corp. |
1,667,240 |
34,973 |
|
TOTAL PHILIPPINES |
78,455 |
||
Portugal - 0.2% |
|||
CTT Correios de Portugal SA |
2,207,441 |
23,323 |
|
South Africa - 0.7% |
|||
Naspers Ltd. Class N |
536,400 |
77,382 |
|
Spain - 2.3% |
|||
Amadeus IT Holding SA Class A (e) |
2,328,900 |
93,661 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
Spain - continued |
|||
Atresmedia Corporacion de Medios de Comunicacion SA |
1,502,300 |
$ 22,103 |
|
Criteria CaixaCorp SA |
9,453,778 |
41,278 |
|
Inditex SA |
2,387,564 |
70,511 |
|
Mediaset Espana Comunicacion, S.A. (a) |
1,953,553 |
23,830 |
|
TOTAL SPAIN |
251,383 |
||
Sweden - 2.9% |
|||
ASSA ABLOY AB (B Shares) |
1,721,400 |
94,098 |
|
H&M Hennes & Mauritz AB (B Shares) |
523,731 |
21,584 |
|
HEXPOL AB (B Shares) |
301,400 |
30,289 |
|
Lifco AB (a) |
447,800 |
7,344 |
|
Nordea Bank AB |
7,354,600 |
93,597 |
|
Svenska Handelsbanken AB (A Shares) |
1,413,300 |
67,093 |
|
TOTAL SWEDEN |
314,005 |
||
Switzerland - 5.7% |
|||
Clariant AG (Reg.) |
2,337,750 |
37,681 |
|
Compagnie Financiere Richemont SA Series A |
525,923 |
43,693 |
|
Lonza Group AG |
380,428 |
45,244 |
|
Partners Group Holding AG |
228,066 |
61,251 |
|
Roche Holding AG (participation certificate) |
918,221 |
247,479 |
|
Schindler Holding AG (participation certificate) |
184,089 |
27,387 |
|
Sonova Holding AG Class B |
336,488 |
44,379 |
|
UBS Group AG |
6,687,781 |
112,094 |
|
TOTAL SWITZERLAND |
619,208 |
||
Taiwan - 0.3% |
|||
ECLAT Textile Co. Ltd. |
94,607 |
972 |
|
Merida Industry Co. Ltd. |
4,995,900 |
34,260 |
|
TOTAL TAIWAN |
35,232 |
||
Turkey - 0.1% |
|||
Logo Yazilim Sanayi Ve Ticar (a) |
1,115,318 |
12,675 |
|
United Kingdom - 15.0% |
|||
Aberdeen Asset Management PLC |
5,923,432 |
39,051 |
|
Al Noor Hospitals Group PLC |
2,465,900 |
33,724 |
|
Associated British Foods PLC |
784,200 |
36,651 |
|
B&M European Value Retail S.A. |
6,347,595 |
30,188 |
|
BG Group PLC |
4,055,820 |
54,096 |
|
British American Tobacco PLC (United Kingdom) |
1,471,900 |
83,039 |
|
BTG PLC (a) |
1,743,600 |
20,773 |
|
Bunzl PLC |
2,107,500 |
60,217 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
United Kingdom - continued |
|||
Diageo PLC |
3,619,280 |
$ 107,133 |
|
Essentra PLC |
2,165,600 |
27,073 |
|
Exova Group Ltd. PLC (a) |
1,120,177 |
2,531 |
|
Hikma Pharmaceuticals PLC |
2,694,515 |
95,780 |
|
Howden Joinery Group PLC |
5,638,400 |
36,085 |
|
Imperial Tobacco Group PLC |
1,099,350 |
51,728 |
|
ITV PLC |
14,611,200 |
48,416 |
|
Johnson Matthey PLC |
921,200 |
45,247 |
|
Liberty Global PLC Class A (a) |
671,900 |
31,391 |
|
Lloyds Banking Group PLC (a) |
72,164,800 |
79,945 |
|
London Stock Exchange Group PLC |
2,606,936 |
92,863 |
|
Melrose PLC |
11,897,500 |
47,488 |
|
Next PLC |
768,144 |
83,707 |
|
Persimmon PLC |
1,492,600 |
35,791 |
|
Poundland Group PLC |
3,872,251 |
20,600 |
|
Reckitt Benckiser Group PLC |
781,800 |
66,168 |
|
Rex Bionics PLC (a)(f) |
1,317,442 |
1,389 |
|
Rio Tinto PLC |
1,169,300 |
51,383 |
|
SABMiller PLC |
1,097,700 |
59,942 |
|
St. James's Place Capital PLC |
5,626,900 |
72,718 |
|
Taylor Wimpey PLC |
11,898,900 |
24,267 |
|
Tesco PLC |
5,664,800 |
19,156 |
|
The Restaurant Group PLC |
1,974,900 |
21,402 |
|
Virgin Money Holdings Uk PLC (a) |
4,118,000 |
19,398 |
|
Vodafone Group PLC |
32,549,796 |
114,461 |
|
Workspace Group PLC |
659,100 |
7,843 |
|
TOTAL UNITED KINGDOM |
1,621,644 |
||
United States of America - 2.3% |
|||
Chevron Corp. |
605,500 |
62,082 |
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
501,000 |
55,335 |
|
McGraw Hill Financial, Inc. |
632,300 |
56,553 |
|
Visa, Inc. Class A |
299,300 |
76,295 |
|
TOTAL UNITED STATES OF AMERICA |
250,265 |
||
TOTAL COMMON STOCKS (Cost $8,867,069) |
|
||
Preferred Stocks - 1.6% |
|||
Shares |
Value (000s) |
||
Convertible Preferred Stocks - 0.2% |
|||
Cayman Islands - 0.2% |
|||
Meituan Corp. Series D (i)(k) |
2,979,122 |
$ 18,833 |
|
Nonconvertible Preferred Stocks - 1.4% |
|||
Germany - 1.4% |
|||
Henkel AG & Co. KGaA |
97,576 |
11,203 |
|
Volkswagen AG |
629,800 |
141,125 |
|
TOTAL GERMANY |
152,328 |
||
TOTAL PREFERRED STOCKS (Cost $169,737) |
|
Government Obligations - 0.1% |
||||
|
Principal |
|
||
United States of America - 0.1% |
||||
U.S. Treasury Bills, yield at date of purchase 0.01% to 0.03% 2/5/15 to
2/12/15 (j) |
|
$ 11,730 |
|
|
Preferred Securities - 0.1% |
||||
|
||||
Ireland - 0.1% |
||||
Baggot Securities Ltd. 10.24% (g)(h) |
EUR |
9,040 |
|
Money Market Funds - 6.5% |
|||
Shares |
|
||
Fidelity Cash Central Fund, 0.13% (b) |
544,829,191 |
544,829 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
152,950,485 |
152,950 |
|
TOTAL MONEY MARKET FUNDS (Cost $697,779) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.8% (Cost $9,760,198) |
10,887,513 |
||
NET OTHER ASSETS (LIABILITIES) - (0.8)% |
(88,541) |
||
NET ASSETS - 100% |
$ 10,798,972 |
Futures Contracts |
|||||
|
Expiration Date |
Underlying Face Amount at Value (000s) |
Unrealized |
||
Purchased |
|||||
Equity Index Contracts |
|||||
2,033 CME Nikkei 225 Index Contracts (United States) |
March 2015 |
$ 178,091 |
$ (6,594) |
|
The face value of futures purchased as a percentage of net assets is 1.6% |
Currency Abbreviations |
||
EUR |
- |
European Monetary Unit |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Amount is stated in United States dollars unless otherwise noted. |
(e) Security or a portion of the security is on loan at period end. |
(f) Affiliated company |
(g) 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 $11,733,000 or 0.1% of net assets. |
(h) Security is perpetual in nature with no stated maturity date. |
(i) Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(j) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,713,000. |
(k) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $18,833,000 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost (000s) |
Meituan Corp. Series D |
1/26/15 |
$ 18,833 |
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 |
$ 204 |
Fidelity Securities Lending Cash Central Fund |
405 |
Total |
$ 609 |
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, |
Hoegh LNG Partners LP |
$ 12,426 |
$ 2,837 |
$ 130 |
$ 210 |
$ 15,867 |
MySale Group PLC |
26,053 |
- |
61 |
- |
8,159 |
PAX Global Technology Ltd. |
71,203 |
795 |
600 |
- |
62,326 |
Rex Bionics PLC |
3,518 |
- |
12 |
- |
1,389 |
Total |
$ 113,200 |
$ 3,632 |
$ 803 |
$ 210 |
$ 87,741 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 1,704,632 |
$ 1,107,955 |
$ 596,677 |
$ - |
Consumer Staples |
1,170,566 |
380,948 |
789,618 |
- |
Energy |
428,587 |
174,637 |
253,950 |
- |
Financials |
2,375,430 |
1,307,641 |
1,067,789 |
- |
Health Care |
1,616,286 |
713,813 |
902,473 |
- |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Industrials |
$ 1,005,766 |
$ 709,122 |
$ 277,811 |
$ 18,833 |
Information Technology |
911,478 |
404,248 |
507,230 |
- |
Materials |
423,715 |
338,320 |
85,395 |
- |
Telecommunication Services |
510,670 |
78,169 |
432,501 |
- |
Utilities |
19,141 |
- |
19,141 |
- |
Government Obligations |
11,730 |
- |
11,730 |
- |
Preferred Securities |
11,733 |
- |
11,733 |
- |
Money Market Funds |
697,779 |
697,779 |
- |
- |
Total Investments in Securities: |
$ 10,887,513 |
$ 5,912,632 |
$ 4,956,048 |
$ 18,833 |
Derivative Instruments: |
||||
Liabilities |
||||
Futures Contracts |
$ (6,594) |
$ (6,594) |
$ - |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total (000s) |
Level 1 to Level 2 |
$ 211,793 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $9,767,272,000. Net unrealized appreciation aggregated $1,120,241,000, of which $1,603,402,000 related to appreciated investment securities and $483,161,000 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
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. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International Growth Fund
January 31, 2015
1.863101.107
IGF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.9% |
|||
Shares |
Value |
||
Australia - 3.4% |
|||
CSL Ltd. |
304,417 |
$ 20,716,657 |
|
Sydney Airport unit |
1,402,269 |
5,418,677 |
|
Transurban Group unit |
981,375 |
7,018,409 |
|
TOTAL AUSTRALIA |
33,153,743 |
||
Austria - 1.1% |
|||
Andritz AG |
199,197 |
10,804,445 |
|
Bailiwick of Jersey - 1.4% |
|||
Shire PLC |
183,000 |
13,356,780 |
|
Belgium - 4.8% |
|||
Anheuser-Busch InBev SA NV |
263,191 |
32,100,398 |
|
KBC Groupe SA (a) |
277,213 |
14,946,757 |
|
TOTAL BELGIUM |
47,047,155 |
||
Bermuda - 0.5% |
|||
Lazard Ltd. Class A |
104,092 |
4,767,414 |
|
Canada - 0.9% |
|||
Canadian Pacific Railway Ltd. |
34,700 |
6,047,855 |
|
Pason Systems, Inc. |
175,000 |
2,466,554 |
|
TOTAL CANADA |
8,514,409 |
||
Cayman Islands - 1.9% |
|||
Sands China Ltd. |
1,514,800 |
7,374,574 |
|
Tencent Holdings Ltd. |
283,500 |
4,781,669 |
|
Wynn Macau Ltd. |
2,197,600 |
6,085,479 |
|
TOTAL CAYMAN ISLANDS |
18,241,722 |
||
Denmark - 2.6% |
|||
Jyske Bank A/S (Reg.) (a) |
110,600 |
5,020,363 |
|
Novo Nordisk A/S Series B sponsored ADR |
452,400 |
20,158,944 |
|
TOTAL DENMARK |
25,179,307 |
||
Finland - 0.2% |
|||
Tikkurila Oyj |
118,900 |
2,149,712 |
|
France - 1.1% |
|||
Safran SA |
159,500 |
10,668,110 |
|
Germany - 4.8% |
|||
Bayer AG |
143,600 |
20,778,417 |
|
Linde AG |
135,741 |
26,060,507 |
|
TOTAL GERMANY |
46,838,924 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
India - 0.6% |
|||
Housing Development Finance Corp. Ltd. |
288,775 |
$ 5,860,077 |
|
Ireland - 2.3% |
|||
CRH PLC sponsored ADR |
429,466 |
10,367,309 |
|
James Hardie Industries PLC: |
|
|
|
CDI |
494,387 |
4,957,124 |
|
sponsored ADR |
132,300 |
6,690,411 |
|
TOTAL IRELAND |
22,014,844 |
||
Israel - 0.2% |
|||
Azrieli Group |
70,500 |
2,431,622 |
|
Italy - 0.7% |
|||
Azimut Holding SpA |
126,600 |
2,959,870 |
|
Interpump Group SpA |
263,551 |
3,755,417 |
|
TOTAL ITALY |
6,715,287 |
||
Japan - 13.3% |
|||
Aozora Bank Ltd. |
1,228,000 |
4,468,914 |
|
Astellas Pharma, Inc. |
888,500 |
13,723,210 |
|
Coca-Cola Central Japan Co. Ltd. |
189,400 |
3,153,506 |
|
DENSO Corp. |
493,900 |
21,849,307 |
|
East Japan Railway Co. |
71,900 |
5,553,421 |
|
Fanuc Corp. |
51,200 |
8,598,494 |
|
Fast Retailing Co. Ltd. |
28,600 |
10,609,912 |
|
Japan Tobacco, Inc. |
150,800 |
4,107,288 |
|
Keyence Corp. |
43,662 |
20,409,223 |
|
Mitsui Fudosan Co. Ltd. |
409,000 |
10,340,181 |
|
Seven Bank Ltd. |
1,357,900 |
6,077,639 |
|
SHO-BOND Holdings Co. Ltd. |
131,500 |
5,566,664 |
|
USS Co. Ltd. |
706,700 |
11,087,098 |
|
Yamato Kogyo Co. Ltd. |
148,700 |
3,826,928 |
|
TOTAL JAPAN |
129,371,785 |
||
Kenya - 0.4% |
|||
Safaricom Ltd. |
26,739,300 |
4,128,326 |
|
Korea (South) - 0.8% |
|||
Bgf Retail (a) |
53,901 |
3,942,951 |
|
NAVER Corp. |
6,449 |
4,146,640 |
|
TOTAL KOREA (SOUTH) |
8,089,591 |
||
Mexico - 0.4% |
|||
Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a) |
46,855 |
3,915,204 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Netherlands - 1.1% |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
906,364 |
$ 11,268,291 |
|
South Africa - 2.1% |
|||
Clicks Group Ltd. |
649,951 |
5,023,235 |
|
MTN Group Ltd. |
212,400 |
3,667,875 |
|
Naspers Ltd. Class N |
80,000 |
11,540,952 |
|
TOTAL SOUTH AFRICA |
20,232,062 |
||
Spain - 2.1% |
|||
Inditex SA |
606,613 |
17,914,829 |
|
Prosegur Compania de Seguridad SA (Reg.) |
438,049 |
2,440,327 |
|
TOTAL SPAIN |
20,355,156 |
||
Sweden - 5.6% |
|||
ASSA ABLOY AB (B Shares) |
317,561 |
17,359,121 |
|
Atlas Copco AB (A Shares) |
333,509 |
9,887,331 |
|
Fagerhult AB |
245,852 |
4,078,121 |
|
H&M Hennes & Mauritz AB (B Shares) |
254,482 |
10,487,825 |
|
Intrum Justitia AB |
81,700 |
2,177,232 |
|
Svenska Handelsbanken AB (A Shares) |
225,140 |
10,688,041 |
|
TOTAL SWEDEN |
54,677,671 |
||
Switzerland - 13.4% |
|||
Nestle SA |
496,873 |
37,946,676 |
|
Novartis AG |
250,288 |
24,391,266 |
|
Roche Holding AG (participation certificate) |
152,599 |
41,128,090 |
|
Schindler Holding AG: |
|
|
|
(participation certificate) |
52,884 |
7,867,517 |
|
(Reg.) |
8,980 |
1,310,521 |
|
UBS Group AG |
1,073,961 |
17,913,669 |
|
TOTAL SWITZERLAND |
130,557,739 |
||
Taiwan - 0.4% |
|||
Taiwan Semiconductor Manufacturing Co. Ltd. |
923,000 |
4,029,793 |
|
Turkey - 0.5% |
|||
Coca-Cola Icecek Sanayi A/S |
257,534 |
5,200,580 |
|
United Kingdom - 13.9% |
|||
Babcock International Group PLC |
350,784 |
5,315,210 |
|
BAE Systems PLC |
761,600 |
5,821,644 |
|
Berendsen PLC |
252,373 |
4,234,584 |
|
GlaxoSmithKline PLC |
295,100 |
6,497,724 |
|
Informa PLC |
684,291 |
5,277,077 |
|
InterContinental Hotel Group PLC ADR |
426,196 |
16,945,553 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
Johnson Matthey PLC |
182,677 |
$ 8,972,580 |
|
Prudential PLC |
1,293,167 |
31,437,398 |
|
Reckitt Benckiser Group PLC |
253,145 |
21,424,891 |
|
Rolls-Royce Group PLC |
322,037 |
4,324,240 |
|
SABMiller PLC |
354,266 |
19,345,503 |
|
Shaftesbury PLC |
249,233 |
2,920,571 |
|
Unite Group PLC |
394,676 |
2,912,264 |
|
TOTAL UNITED KINGDOM |
135,429,239 |
||
United States of America - 15.4% |
|||
Autoliv, Inc. (d) |
108,469 |
11,504,222 |
|
Berkshire Hathaway, Inc. Class B (a) |
48,484 |
6,977,332 |
|
BorgWarner, Inc. |
182,492 |
9,856,393 |
|
Cummins, Inc. |
49,082 |
6,844,976 |
|
FMC Technologies, Inc. (a) |
82,152 |
3,079,057 |
|
Google, Inc. Class A (a) |
30,036 |
16,145,852 |
|
Martin Marietta Materials, Inc. |
45,700 |
4,923,718 |
|
MasterCard, Inc. Class A |
185,600 |
15,224,768 |
|
McGraw Hill Financial, Inc. |
43,600 |
3,899,584 |
|
Mead Johnson Nutrition Co. Class A |
40,544 |
3,993,179 |
|
Mohawk Industries, Inc. (a) |
56,500 |
9,324,760 |
|
Moody's Corp. |
41,500 |
3,790,195 |
|
National Oilwell Varco, Inc. |
35,172 |
1,914,412 |
|
Oceaneering International, Inc. |
64,813 |
3,393,609 |
|
Philip Morris International, Inc. |
101,408 |
8,136,978 |
|
PriceSmart, Inc. |
45,900 |
3,753,702 |
|
ResMed, Inc. (d) |
66,900 |
4,179,243 |
|
Solera Holdings, Inc. |
71,689 |
3,699,152 |
|
SS&C Technologies Holdings, Inc. |
139,800 |
7,735,134 |
|
Union Pacific Corp. |
43,700 |
5,122,077 |
|
Visa, Inc. Class A |
63,975 |
16,307,867 |
|
TOTAL UNITED STATES OF AMERICA |
149,806,210 |
||
TOTAL COMMON STOCKS (Cost $847,264,735) |
|
||
Money Market Funds - 5.0% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
38,596,631 |
$ 38,596,631 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
9,439,850 |
9,439,850 |
|
TOTAL MONEY MARKET FUNDS (Cost $48,036,481) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.9% (Cost $895,301,216) |
982,841,679 |
||
NET OTHER ASSETS (LIABILITIES) - (0.9)% |
(8,358,565) |
||
NET ASSETS - 100% |
$ 974,483,114 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 8,839 |
Fidelity Securities Lending Cash Central Fund |
29,728 |
Total |
$ 38,567 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 153,965,269 |
$ 81,310,659 |
$ 72,654,610 |
$ - |
Consumer Staples |
147,936,803 |
44,345,146 |
103,591,657 |
- |
Energy |
10,853,632 |
10,853,632 |
- |
- |
Financials |
148,680,182 |
79,227,682 |
69,452,500 |
- |
Health Care |
164,930,331 |
45,116,604 |
119,813,727 |
- |
Industrials |
140,214,393 |
108,058,728 |
32,155,665 |
- |
Information Technology |
92,480,098 |
59,112,773 |
33,367,325 |
- |
Materials |
67,948,289 |
59,164,237 |
8,784,052 |
- |
Telecommunication Services |
7,796,201 |
4,128,326 |
3,667,875 |
- |
Money Market Funds |
48,036,481 |
48,036,481 |
- |
- |
Total Investments in Securities: |
$ 982,841,679 |
$ 539,354,268 |
$ 443,487,411 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 38,872,595 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $896,025,987. Net unrealized appreciation aggregated $86,815,692, of which $115,767,408 related to appreciated investment securities and $28,951,716 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International Small Cap Fund
January 31, 2015
1.813082.110
ISC-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 96.1% |
|||
Shares |
Value |
||
Australia - 4.6% |
|||
Austal Ltd. (a) |
1,995,280 |
$ 2,396,040 |
|
Bradken Ltd. |
853,141 |
1,799,332 |
|
Challenger Ltd. |
845,650 |
4,114,108 |
|
Charter Hall Group unit |
1,090,647 |
4,087,273 |
|
GUD Holdings Ltd. (d) |
864,662 |
5,258,906 |
|
iiNet Ltd. |
455,468 |
2,643,424 |
|
Imdex Ltd. (a) |
7,363,809 |
1,679,316 |
|
Life Healthcare Group Ltd. |
1,826,612 |
3,588,714 |
|
Nanosonics Ltd. (a) |
1,455,582 |
1,527,109 |
|
RCG Corp. Ltd. |
2,518,231 |
1,427,059 |
|
Slater & Gordon Ltd. |
1,013,684 |
5,202,363 |
|
SomnoMed Ltd. (a) |
584,445 |
1,214,251 |
|
Vision Group Holdings Ltd. |
438,372 |
244,142 |
|
TOTAL AUSTRALIA |
35,182,037 |
||
Austria - 1.4% |
|||
Andritz AG |
98,812 |
5,359,563 |
|
RHI AG |
195,100 |
5,136,788 |
|
TOTAL AUSTRIA |
10,496,351 |
||
Bailiwick of Jersey - 1.2% |
|||
Kennedy Wilson Europe Real Estate PLC |
184,085 |
2,883,596 |
|
Regus PLC (d) |
2,000,300 |
6,085,961 |
|
TOTAL BAILIWICK OF JERSEY |
8,969,557 |
||
Belgium - 1.1% |
|||
Barco NV (d) |
58,703 |
3,780,397 |
|
Econocom Group SA (d) |
545,523 |
4,467,964 |
|
TOTAL BELGIUM |
8,248,361 |
||
Bermuda - 2.9% |
|||
APT Satellite Holdings Ltd. |
1,262,500 |
1,717,123 |
|
BW Offshore Ltd. |
4,420,513 |
4,239,765 |
|
Hiscox Ltd. |
604,895 |
6,691,977 |
|
Petra Diamonds Ltd. (a) |
2,085,600 |
4,818,801 |
|
Travelport Worldwide Ltd. (d) |
282,000 |
4,396,380 |
|
TOTAL BERMUDA |
21,864,046 |
||
Brazil - 0.1% |
|||
QGEP Participacoes SA |
248,600 |
528,098 |
|
British Virgin Islands - 0.1% |
|||
Mail.Ru Group Ltd. GDR (Reg. S) (a) |
72,524 |
1,044,346 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Canada - 3.0% |
|||
Constellation Software, Inc. |
10,866 |
$ 3,010,789 |
|
Dorel Industries, Inc. Class B (sub. vtg.) |
104,700 |
3,000,021 |
|
Genesis Land Development Corp. |
886,300 |
2,106,419 |
|
Jean Coutu Group, Inc. Class A (sub. vtg.) |
123,060 |
2,468,560 |
|
Lassonde Industries, Inc. Class A (sub. vtg.) |
26,600 |
2,888,801 |
|
McCoy Global, Inc. |
387,100 |
1,105,826 |
|
ShawCor Ltd. Class A |
118,129 |
3,244,434 |
|
Whitecap Resources, Inc. (d) |
514,481 |
5,024,561 |
|
TOTAL CANADA |
22,849,411 |
||
Cayman Islands - 3.7% |
|||
AMVIG Holdings Ltd. |
11,272,000 |
5,566,075 |
|
Bonjour Holdings Ltd. |
33,882,800 |
3,103,606 |
|
China High Precision Automation Group Ltd. (a) |
712,000 |
27,553 |
|
China Metal Recycling (Holdings) Ltd. (a) |
436,800 |
0 |
|
Greatview Aseptic Pack Co. Ltd. |
4,006,000 |
1,826,124 |
|
Lifestyle International Holdings Ltd. |
3,549,500 |
6,948,475 |
|
Pico Far East Holdings Ltd. |
18,482,000 |
4,147,396 |
|
SITC International Holdings Co. Ltd. |
11,529,000 |
6,361,224 |
|
TOTAL CAYMAN ISLANDS |
27,980,453 |
||
Chile - 0.6% |
|||
Quinenco SA |
2,290,914 |
4,700,572 |
|
Denmark - 1.0% |
|||
Jyske Bank A/S (Reg.) (a) |
161,979 |
7,352,563 |
|
Finland - 1.6% |
|||
Amer Group PLC (A Shares) |
297,916 |
5,682,569 |
|
Rakentajain Konevuokraamo Oyj (B Shares) |
173,356 |
2,675,889 |
|
Tikkurila Oyj |
205,600 |
3,717,248 |
|
TOTAL FINLAND |
12,075,706 |
||
France - 3.4% |
|||
ALTEN |
108,300 |
4,546,380 |
|
Faiveley Transport |
35,921 |
2,183,375 |
|
Sopra Steria Group |
46,000 |
3,591,818 |
|
The Lisi Group |
170,500 |
4,238,630 |
|
The Vicat Group |
76,598 |
5,394,154 |
|
Thermador Groupe SA |
18,900 |
1,517,201 |
|
Wendel SA |
39,952 |
4,489,746 |
|
TOTAL FRANCE |
25,961,304 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - 4.3% |
|||
AURELIUS AG |
145,935 |
$ 5,852,533 |
|
CompuGroup Medical AG |
239,549 |
6,201,516 |
|
GEA Group AG |
152,536 |
6,936,857 |
|
LEG Immobilien AG |
75,836 |
5,821,240 |
|
LEONI AG |
82,747 |
5,186,673 |
|
SHW Group |
49,128 |
2,434,317 |
|
TOTAL GERMANY |
32,433,136 |
||
Greece - 0.9% |
|||
Metka SA |
283,500 |
2,886,399 |
|
Motor Oil (HELLAS) Corinth Refineries SA |
550,786 |
3,734,329 |
|
TOTAL GREECE |
6,620,728 |
||
Hong Kong - 1.9% |
|||
Dah Sing Banking Group Ltd. |
2,591,600 |
4,323,656 |
|
Far East Horizon Ltd. |
3,161,000 |
2,693,175 |
|
Magnificent Estates Ltd. (a) |
94,136,000 |
4,119,886 |
|
Techtronic Industries Co. Ltd. |
968,000 |
3,161,263 |
|
TOTAL HONG KONG |
14,297,980 |
||
India - 0.3% |
|||
McLeod Russel India Ltd. |
748,354 |
2,477,258 |
|
Indonesia - 0.3% |
|||
PT Media Nusantara Citra Tbk |
11,686,400 |
2,629,322 |
|
Ireland - 2.0% |
|||
C&C Group PLC |
990,700 |
3,884,634 |
|
Mincon Group PLC |
4,002,636 |
2,840,431 |
|
United Drug PLC (United Kingdom) |
1,479,749 |
8,712,371 |
|
TOTAL IRELAND |
15,437,436 |
||
Isle of Man - 0.6% |
|||
Lamprell PLC (a) |
1,845,446 |
3,029,776 |
|
NETELLER PLC (a) |
265,500 |
1,377,642 |
|
TOTAL ISLE OF MAN |
4,407,418 |
||
Israel - 0.9% |
|||
Frutarom Industries Ltd. |
231,810 |
7,258,343 |
|
Italy - 1.0% |
|||
Cerved Information Solutions SpA |
541,000 |
2,928,271 |
|
Danieli & C. Officine Meccaniche SpA |
180,697 |
4,434,955 |
|
TOTAL ITALY |
7,363,226 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - 20.7% |
|||
A/S One Corp. |
128,900 |
$ 3,448,681 |
|
ACOM Co. Ltd. (a)(d) |
574,700 |
1,563,433 |
|
Aeon Delight Co. Ltd. |
146,700 |
3,285,521 |
|
Ain Pharmaciez, Inc. |
136,300 |
4,392,788 |
|
Arc Land Sakamoto Co. Ltd. |
164,000 |
3,059,083 |
|
Broadleaf Co. Ltd. |
475,200 |
7,334,428 |
|
Daiwa Industries Ltd. |
446,000 |
2,710,268 |
|
Fuji Corp. |
147,800 |
2,130,193 |
|
Fukuda Denshi Co. Ltd. |
146,700 |
7,283,600 |
|
GMO Internet, Inc. |
382,000 |
3,154,049 |
|
Higashi Nihon House Co. Ltd. |
1,224,500 |
5,347,653 |
|
Hoshizaki Electric Co. Ltd. |
57,400 |
2,910,084 |
|
Iida Group Holdings Co. Ltd. |
325,351 |
4,046,591 |
|
JSR Corp. |
431,800 |
7,610,823 |
|
KAWAI Musical Instruments Manufacturing Co. Ltd. |
234,400 |
4,629,015 |
|
Kinugawa Rubber Industrial Co. Ltd. |
684,000 |
3,065,157 |
|
Kotobuki Spirits Co. Ltd. |
87,700 |
2,022,779 |
|
Leopalace21 Corp. (a) |
890,000 |
5,758,574 |
|
Meitec Corp. |
152,600 |
4,453,120 |
|
Miraca Holdings, Inc. |
103,100 |
4,617,517 |
|
Mitani Shoji Co. Ltd. |
234,300 |
5,389,815 |
|
Nitori Holdings Co. Ltd. |
111,100 |
6,281,541 |
|
Paramount Bed Holdings Co. Ltd. |
182,000 |
5,033,944 |
|
Ricoh Leasing Co. Ltd. |
258,900 |
6,775,675 |
|
San-Ai Oil Co. Ltd. |
603,000 |
4,001,407 |
|
Ship Healthcare Holdings, Inc. |
123,600 |
3,067,418 |
|
TFP Consulting Group Co. Ltd. |
171,500 |
4,701,875 |
|
TKC Corp. |
354,500 |
6,277,185 |
|
Tokyo Ohka Kogyo Co. Ltd. |
81,600 |
2,805,941 |
|
Toshiba Plant Systems & Services Corp. |
251,600 |
3,856,475 |
|
Toyo Suisan Kaisha Ltd. |
112,600 |
3,961,381 |
|
Tsuruha Holdings, Inc. |
170,000 |
11,423,309 |
|
Uchiyama Holdings Co. Ltd. |
402,900 |
2,065,149 |
|
VT Holdings Co. Ltd. |
1,492,500 |
6,006,502 |
|
Welcia Holdings Co. Ltd. |
80,400 |
2,959,441 |
|
TOTAL JAPAN |
157,430,415 |
||
Korea (South) - 2.3% |
|||
Bgf Retail (a) |
61,850 |
4,524,435 |
|
DGB Financial Group Co. Ltd. |
186,915 |
1,778,230 |
|
Fila Korea Ltd. |
22,673 |
2,251,890 |
|
Hy-Lok Corp. |
120,010 |
2,999,608 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Korea (South) - continued |
|||
Koh Young Technology, Inc. |
55,256 |
$ 2,377,275 |
|
Soulbrain Co. Ltd. |
53,065 |
1,745,458 |
|
TK Corp. (a) |
177,678 |
1,696,561 |
|
TOTAL KOREA (SOUTH) |
17,373,457 |
||
Luxembourg - 1.0% |
|||
Grand City Properties SA (a)(d) |
471,873 |
7,731,639 |
|
Malaysia - 0.4% |
|||
Kossan Rubber Industries Bhd |
2,012,100 |
2,885,989 |
|
Netherlands - 1.7% |
|||
Amsterdam Commodities NV |
189,221 |
4,521,218 |
|
BinckBank NV |
375,400 |
3,096,675 |
|
IMCD Group BV |
159,200 |
5,055,078 |
|
TOTAL NETHERLANDS |
12,672,971 |
||
New Zealand - 2.0% |
|||
EBOS Group Ltd. |
1,408,656 |
9,685,000 |
|
Nuplex Industries Ltd. |
2,477,747 |
5,390,028 |
|
TOTAL NEW ZEALAND |
15,075,028 |
||
Norway - 1.8% |
|||
ABG Sundal Collier ASA (a) |
6,803,251 |
4,217,965 |
|
Ekornes A/S |
362,297 |
4,513,531 |
|
Kongsberg Gruppen ASA |
282,200 |
4,784,970 |
|
TOTAL NORWAY |
13,516,466 |
||
Singapore - 2.3% |
|||
Amtek Engineering Ltd. |
5,633,000 |
2,584,255 |
|
Boustead Singapore Ltd. |
2,063,020 |
2,743,186 |
|
Hour Glass Ltd. |
7,362,000 |
3,988,054 |
|
Mapletree Industrial (REIT) |
2,958,847 |
3,341,714 |
|
OSIM International Ltd. |
3,179,000 |
4,547,429 |
|
TOTAL SINGAPORE |
17,204,638 |
||
South Africa - 1.6% |
|||
Capitec Bank Holdings Ltd. |
93,600 |
3,068,784 |
|
Clicks Group Ltd. |
930,231 |
7,189,417 |
|
Pinnacle Technology Holdings Ltd. (a) |
1,900,130 |
1,768,065 |
|
TOTAL SOUTH AFRICA |
12,026,266 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Sweden - 1.1% |
|||
AddTech AB (B Shares) |
182,656 |
$ 2,593,856 |
|
Meda AB (A Shares) |
392,600 |
5,537,263 |
|
TOTAL SWEDEN |
8,131,119 |
||
Switzerland - 4.5% |
|||
Allied World Assurance Co. |
206,900 |
8,000,823 |
|
Clariant AG (Reg.) |
260,352 |
4,196,482 |
|
Daetwyler Holdings AG |
17,381 |
2,076,558 |
|
Pargesa Holding SA |
87,736 |
6,354,219 |
|
Vontobel Holdings AG |
227,903 |
7,632,343 |
|
VZ Holding AG |
36,481 |
6,356,959 |
|
TOTAL SWITZERLAND |
34,617,384 |
||
Taiwan - 1.0% |
|||
King's Town Bank |
2,067,000 |
2,165,756 |
|
Richtek Technology Corp. |
340,000 |
1,710,732 |
|
Tripod Technology Corp. |
1,890,000 |
4,062,760 |
|
TOTAL TAIWAN |
7,939,248 |
||
Thailand - 1.3% |
|||
Delta Electronics PCL (For. Reg.) |
3,395,000 |
7,661,721 |
|
TISCO Financial Group PCL |
1,671,400 |
2,371,440 |
|
TOTAL THAILAND |
10,033,161 |
||
Turkey - 0.5% |
|||
Aygaz A/S |
821,000 |
3,490,332 |
|
United Kingdom - 16.1% |
|||
Aberdeen Asset Management PLC |
612,200 |
4,036,013 |
|
Alent PLC |
520,408 |
2,864,930 |
|
Amec Foster Wheeler PLC |
367,641 |
4,416,084 |
|
Ashmore Group PLC (d) |
910,593 |
3,848,528 |
|
Balfour Beatty PLC |
644,000 |
2,153,384 |
|
BBA Aviation PLC |
1,273,381 |
6,511,496 |
|
Bond International Software PLC |
843,266 |
1,155,816 |
|
Brammer PLC |
646,664 |
3,360,318 |
|
Brewin Dolphin Holding PLC |
763,663 |
3,374,773 |
|
Cairn Energy PLC (a) |
140,055 |
405,026 |
|
Cineworld Group PLC |
1,024,176 |
6,556,109 |
|
Close Brothers Group PLC |
411,300 |
9,422,596 |
|
Countrywide PLC |
951,700 |
6,593,873 |
|
Diploma PLC |
374,452 |
4,266,657 |
|
Informa PLC |
753,906 |
5,813,930 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
ITE Group PLC |
1,169,900 |
$ 2,303,950 |
|
Luxfer Holdings PLC sponsored ADR |
420,500 |
5,659,930 |
|
McColl's Retail Group PLC |
698,300 |
1,840,614 |
|
Mears Group PLC |
873,960 |
5,462,888 |
|
Meggitt PLC |
677,283 |
5,498,467 |
|
Micro Focus International PLC |
233,079 |
3,693,189 |
|
Moneysupermarket.com Group PLC |
1,278,200 |
5,063,341 |
|
Morgan Advanced Materials PLC |
481,508 |
2,208,378 |
|
Provident Financial PLC |
162,378 |
6,449,410 |
|
Pureprofile Media PLC (e) |
2,238,850 |
871,472 |
|
Silverdell PLC (a) |
12,644,400 |
0 |
|
Sinclair Pharma PLC (a)(d) |
6,642,987 |
3,777,139 |
|
Spectris PLC |
184,900 |
5,820,574 |
|
Spirent Communications PLC |
1,513,100 |
2,034,035 |
|
Ultra Electronics Holdings PLC |
261,344 |
6,884,700 |
|
TOTAL UNITED KINGDOM |
122,347,620 |
||
United States of America - 0.9% |
|||
Dillard's, Inc. Class A (d) |
61,071 |
6,937,666 |
|
YOU On Demand Holdings, Inc. warrants 8/30/17 (a)(e) |
27,500 |
6,406 |
|
TOTAL UNITED STATES OF AMERICA |
6,944,072 |
||
TOTAL COMMON STOCKS (Cost $748,482,146) |
|
||
Money Market Funds - 5.9% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
29,389,122 |
29,389,122 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
15,343,546 |
15,343,546 |
|
TOTAL MONEY MARKET FUNDS (Cost $44,732,668) |
|
||
TOTAL INVESTMENT PORTFOLIO - 102.0% (Cost $793,214,814) |
774,330,125 |
||
NET OTHER ASSETS (LIABILITIES) - (2.0)% |
(15,104,429) |
||
NET ASSETS - 100% |
$ 759,225,696 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) 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 $877,878 or 0.1% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost |
Pureprofile Media PLC |
11/6/14 |
$ 958,676 |
YOU On Demand Holdings, Inc. warrants 8/30/17 |
9/14/12 |
$ 0 |
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 |
$ 9,275 |
Fidelity Securities Lending Cash Central Fund |
22,482 |
Total |
$ 31,757 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 128,182,936 |
$ 46,825,146 |
$ 81,357,790 |
$ - |
Consumer Staples |
54,554,635 |
15,603,827 |
38,950,808 |
- |
Energy |
32,472,492 |
25,727,899 |
6,744,593 |
- |
Financials |
157,283,979 |
115,242,161 |
42,041,818 |
- |
Health Care |
68,889,803 |
33,913,289 |
34,976,514 |
- |
Industrials |
140,465,613 |
95,321,435 |
45,144,178 |
- |
Information Technology |
74,831,531 |
39,586,291 |
34,346,215 |
899,025 |
Materials |
65,065,589 |
43,831,852 |
21,233,737 |
- |
Telecommunication Services |
4,360,547 |
- |
4,360,547 |
- |
Utilities |
3,490,332 |
3,490,332 |
- |
- |
Money Market Funds |
44,732,668 |
44,732,668 |
- |
- |
Total Investments in Securities: |
$ 774,330,125 |
$ 464,274,900 |
$ 309,156,200 |
$ 899,025 |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 22,151,059 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $801,104,286. Net unrealized depreciation aggregated $26,774,161, of which $66,974,983 related to appreciated investment securities and $93,749,144 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International Small Cap
Opportunities Fund
January 31, 2015
1.827842.109
ILS-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.9% |
|||
Shares |
Value |
||
Australia - 1.7% |
|||
DuluxGroup Ltd. |
604,841 |
$ 2,801,718 |
|
Imdex Ltd. (a) |
1,779,471 |
405,808 |
|
RCG Corp. Ltd. |
3,726,715 |
2,111,896 |
|
Sydney Airport unit |
795,862 |
3,075,386 |
|
TFS Corp. Ltd. |
1,973,026 |
2,247,865 |
|
TOTAL AUSTRALIA |
10,642,673 |
||
Austria - 1.4% |
|||
Andritz AG |
117,900 |
6,394,896 |
|
Zumtobel AG |
122,581 |
2,821,582 |
|
TOTAL AUSTRIA |
9,216,478 |
||
Belgium - 1.2% |
|||
Gimv NV |
56,688 |
2,565,500 |
|
KBC Ancora (a) |
172,738 |
5,195,087 |
|
TOTAL BELGIUM |
7,760,587 |
||
Bermuda - 1.0% |
|||
Lazard Ltd. Class A |
53,699 |
2,459,414 |
|
Petra Diamonds Ltd. (a) |
1,147,409 |
2,651,101 |
|
Vostok Nafta Investment Ltd. SDR (a) |
316,909 |
1,283,079 |
|
TOTAL BERMUDA |
6,393,594 |
||
British Virgin Islands - 0.2% |
|||
Gem Diamonds Ltd. (a) |
597,996 |
1,269,989 |
|
Canada - 1.1% |
|||
Pason Systems, Inc. |
311,100 |
4,384,828 |
|
ShawCor Ltd. Class A |
97,100 |
2,666,869 |
|
TOTAL CANADA |
7,051,697 |
||
Cayman Islands - 0.2% |
|||
58.com, Inc. ADR (a) |
33,600 |
1,292,592 |
|
Denmark - 1.6% |
|||
Jyske Bank A/S (Reg.) (a) |
115,827 |
5,257,628 |
|
Spar Nord Bank A/S |
521,369 |
4,711,035 |
|
TOTAL DENMARK |
9,968,663 |
||
Finland - 0.5% |
|||
Tikkurila Oyj |
166,850 |
3,016,648 |
|
France - 2.1% |
|||
Coface SA |
141,800 |
1,734,533 |
|
Laurent-Perrier Group SA |
31,163 |
2,461,472 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
France - continued |
|||
Saft Groupe SA |
57,516 |
$ 1,844,504 |
|
Vetoquinol SA |
56,184 |
2,220,173 |
|
Virbac SA |
22,452 |
5,003,114 |
|
TOTAL FRANCE |
13,263,796 |
||
Germany - 4.2% |
|||
alstria office REIT-AG |
224,000 |
2,871,646 |
|
CompuGroup Medical AG |
269,478 |
6,976,327 |
|
CTS Eventim AG |
362,280 |
10,398,161 |
|
Fielmann AG |
96,874 |
6,601,992 |
|
TOTAL GERMANY |
26,848,126 |
||
Greece - 0.4% |
|||
Titan Cement Co. SA (Reg.) |
105,280 |
2,349,586 |
|
India - 0.6% |
|||
Jyothy Laboratories Ltd. (a) |
768,645 |
3,572,659 |
|
Ireland - 1.6% |
|||
FBD Holdings PLC |
240,328 |
2,987,277 |
|
James Hardie Industries PLC: |
|
|
|
CDI |
165,775 |
1,662,194 |
|
sponsored ADR |
112,915 |
5,710,112 |
|
TOTAL IRELAND |
10,359,583 |
||
Israel - 1.6% |
|||
Azrieli Group |
90,005 |
3,104,371 |
|
Ituran Location & Control Ltd. |
84,286 |
1,748,092 |
|
Sarine Technologies Ltd. |
1,108,000 |
2,132,374 |
|
Strauss Group Ltd. (a) |
229,344 |
3,360,721 |
|
TOTAL ISRAEL |
10,345,558 |
||
Italy - 4.3% |
|||
Azimut Holding SpA |
426,997 |
9,983,062 |
|
Beni Stabili SpA SIIQ |
9,945,675 |
7,434,342 |
|
Interpump Group SpA |
677,943 |
9,660,213 |
|
TOTAL ITALY |
27,077,617 |
||
Japan - 28.2% |
|||
Air Water, Inc. |
131,000 |
2,254,021 |
|
Aozora Bank Ltd. |
1,939,000 |
7,056,372 |
|
Artnature, Inc. |
312,600 |
3,268,508 |
|
Asahi Co. Ltd. |
258,500 |
2,529,379 |
|
Autobacs Seven Co. Ltd. |
222,000 |
3,250,213 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Azbil Corp. |
226,100 |
$ 5,617,886 |
|
Broadleaf Co. Ltd. |
52,900 |
816,480 |
|
Coca-Cola Central Japan Co. Ltd. |
254,700 |
4,240,749 |
|
Cosmos Pharmaceutical Corp. |
24,000 |
3,867,207 |
|
Daiichikosho Co. Ltd. |
79,400 |
2,299,395 |
|
Daikokutenbussan Co. Ltd. |
168,700 |
6,538,537 |
|
GCA Savvian Group Corp. |
162,400 |
1,634,801 |
|
Glory Ltd. |
96,800 |
2,536,790 |
|
Goldcrest Co. Ltd. |
283,130 |
4,412,494 |
|
Harmonic Drive Systems, Inc. |
200,700 |
3,180,385 |
|
Iwatsuka Confectionary Co. Ltd. |
63,300 |
3,654,919 |
|
Kobayashi Pharmaceutical Co. Ltd. |
67,500 |
4,514,370 |
|
Koshidaka Holdings Co. Ltd. |
152,900 |
2,779,700 |
|
Kyoto Kimono Yuzen Co. Ltd. |
78,500 |
668,662 |
|
Lasertec Corp. |
181,700 |
2,247,467 |
|
Medikit Co. Ltd. |
73,200 |
2,287,944 |
|
Meiko Network Japan Co. Ltd. |
112,600 |
1,165,065 |
|
Miraial Co. Ltd. |
73,200 |
944,023 |
|
Nabtesco Corp. |
185,800 |
4,796,708 |
|
Nagaileben Co. Ltd. |
307,600 |
5,086,069 |
|
ND Software Co. Ltd. |
35,491 |
748,520 |
|
Nihon M&A Center, Inc. |
68,900 |
2,391,260 |
|
Nihon Parkerizing Co. Ltd. |
324,000 |
7,724,413 |
|
Nippon Seiki Co. Ltd. |
128,000 |
2,894,699 |
|
NS Tool Co. Ltd. |
35,600 |
513,996 |
|
OBIC Co. Ltd. |
189,800 |
6,366,796 |
|
OSG Corp. |
568,100 |
10,459,737 |
|
Paramount Bed Holdings Co. Ltd. |
65,600 |
1,814,432 |
|
San-Ai Oil Co. Ltd. |
381,000 |
2,528,252 |
|
Seven Bank Ltd. |
2,163,800 |
9,684,657 |
|
SHO-BOND Holdings Co. Ltd. |
193,700 |
8,199,718 |
|
Shoei Co. Ltd. |
199,100 |
3,110,255 |
|
SK Kaken Co. Ltd. |
35,000 |
2,690,556 |
|
Software Service, Inc. |
62,900 |
2,133,146 |
|
Techno Medica Co. Ltd. |
79,400 |
1,657,523 |
|
TFP Consulting Group Co. Ltd. |
41,700 |
1,143,255 |
|
The Nippon Synthetic Chemical Industry Co. Ltd. |
406,000 |
2,496,656 |
|
TKC Corp. |
166,900 |
2,955,324 |
|
Tocalo Co. Ltd. |
117,000 |
1,969,667 |
|
Tsutsumi Jewelry Co. Ltd. |
81,000 |
1,729,723 |
|
USS Co. Ltd. |
910,800 |
14,289,136 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Workman Co. Ltd. |
79,400 |
$ 3,901,821 |
|
Yamato Kogyo Co. Ltd. |
202,700 |
5,216,666 |
|
TOTAL JAPAN |
178,268,352 |
||
Korea (South) - 2.7% |
|||
Bgf Retail (a) |
70,508 |
5,157,782 |
|
Coway Co. Ltd. |
106,533 |
8,469,503 |
|
Leeno Industrial, Inc. |
91,751 |
3,314,858 |
|
TOTAL KOREA (SOUTH) |
16,942,143 |
||
Mexico - 0.6% |
|||
Consorcio ARA S.A.B. de CV (a) |
9,235,478 |
3,980,199 |
|
Netherlands - 3.5% |
|||
Aalberts Industries NV |
319,501 |
9,246,135 |
|
ASM International NV (depositary receipt) |
56,400 |
2,357,520 |
|
Heijmans NV (Certificaten Van Aandelen) |
241,692 |
2,316,809 |
|
VastNed Retail NV |
164,729 |
8,180,088 |
|
TOTAL NETHERLANDS |
22,100,552 |
||
Philippines - 0.7% |
|||
Jollibee Food Corp. |
796,090 |
4,169,852 |
|
South Africa - 1.9% |
|||
Alexander Forbes Group Holding (a) |
2,593,721 |
2,103,264 |
|
Clicks Group Ltd. |
878,287 |
6,787,961 |
|
Nampak Ltd. |
795,900 |
2,901,481 |
|
TOTAL SOUTH AFRICA |
11,792,706 |
||
Spain - 1.0% |
|||
Prosegur Compania de Seguridad SA (Reg.) |
1,112,590 |
6,198,128 |
|
Sweden - 2.4% |
|||
Fagerhult AB |
512,812 |
8,506,375 |
|
Intrum Justitia AB |
248,334 |
6,617,878 |
|
TOTAL SWEDEN |
15,124,253 |
||
Taiwan - 0.3% |
|||
Addcn Technology Co. Ltd. |
210,000 |
2,075,663 |
|
Turkey - 1.1% |
|||
Albaraka Turk Katilim Bankasi A/S |
3,859,046 |
2,729,080 |
|
Coca-Cola Icecek Sanayi A/S |
211,362 |
4,268,194 |
|
TOTAL TURKEY |
6,997,274 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - 20.9% |
|||
Babcock International Group PLC |
164,700 |
$ 2,495,596 |
|
Bellway PLC |
277,072 |
7,612,023 |
|
Berendsen PLC |
613,663 |
10,296,693 |
|
Britvic PLC |
511,971 |
5,432,616 |
|
Dechra Pharmaceuticals PLC |
352,050 |
4,586,729 |
|
Derwent London PLC |
91,710 |
4,496,249 |
|
Elementis PLC |
1,482,810 |
6,173,141 |
|
Great Portland Estates PLC |
601,789 |
7,119,887 |
|
H&T Group PLC |
264,353 |
676,886 |
|
Hilton Food Group PLC |
218,188 |
1,291,535 |
|
Howden Joinery Group PLC |
469,500 |
3,004,727 |
|
Informa PLC |
1,001,781 |
7,725,479 |
|
InterContinental Hotel Group PLC ADR |
116,931 |
4,649,177 |
|
ITE Group PLC |
1,033,234 |
2,034,806 |
|
Johnson Matthey PLC |
82,875 |
4,070,586 |
|
Meggitt PLC |
627,090 |
5,090,979 |
|
Rotork PLC |
96,000 |
3,332,919 |
|
Shaftesbury PLC |
637,673 |
7,472,403 |
|
Spectris PLC |
273,478 |
8,608,973 |
|
Spirax-Sarco Engineering PLC |
238,421 |
10,952,846 |
|
Taylor Wimpey PLC |
2,007,600 |
4,094,289 |
|
Ted Baker PLC |
133,700 |
4,778,722 |
|
Ultra Electronics Holdings PLC |
218,058 |
5,744,397 |
|
Unite Group PLC |
1,434,757 |
10,586,891 |
|
TOTAL UNITED KINGDOM |
132,328,549 |
||
United States of America - 8.9% |
|||
ANSYS, Inc. (a) |
21,085 |
1,700,927 |
|
Autoliv, Inc. (d) |
48,200 |
5,112,092 |
|
Broadridge Financial Solutions, Inc. |
48,905 |
2,346,951 |
|
Dril-Quip, Inc. (a) |
36,795 |
2,731,293 |
|
Evercore Partners, Inc. Class A |
56,600 |
2,709,442 |
|
Kennedy-Wilson Holdings, Inc. |
245,429 |
6,525,957 |
|
Martin Marietta Materials, Inc. |
24,420 |
2,631,011 |
|
Mohawk Industries, Inc. (a) |
40,300 |
6,651,112 |
|
Oceaneering International, Inc. |
41,102 |
2,152,101 |
|
PriceSmart, Inc. |
78,099 |
6,386,936 |
|
ResMed, Inc. (d) |
43,300 |
2,704,951 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
Solera Holdings, Inc. |
79,956 |
$ 4,125,730 |
|
SS&C Technologies Holdings, Inc. |
192,058 |
10,626,569 |
|
TOTAL UNITED STATES OF AMERICA |
56,405,072 |
||
TOTAL COMMON STOCKS (Cost $507,635,690) |
|
||
Nonconvertible Preferred Stocks - 1.0% |
|||
|
|
|
|
Germany - 1.0% |
|||
Sartorius AG (non-vtg.) |
50,279 |
|
|
Money Market Funds - 3.4% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
18,299,114 |
18,299,114 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
3,344,200 |
3,344,200 |
|
TOTAL MONEY MARKET FUNDS (Cost $21,643,314) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $534,993,277) |
634,904,436 |
||
NET OTHER ASSETS (LIABILITIES) - (0.3)% |
(1,967,876) |
||
NET ASSETS - 100% |
$ 632,936,560 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 3,871 |
Fidelity Securities Lending Cash Central Fund |
8,943 |
Total |
$ 12,814 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 120,012,078 |
$ 66,642,779 |
$ 53,369,299 |
$ - |
Consumer Staples |
64,804,166 |
23,201,474 |
41,602,692 |
- |
Energy |
14,463,343 |
11,935,091 |
2,528,252 |
- |
Financials |
124,975,445 |
100,083,857 |
24,891,588 |
- |
Health Care |
41,667,461 |
27,939,827 |
13,727,634 |
- |
Industrials |
131,919,226 |
91,519,950 |
40,399,276 |
- |
Information Technology |
57,145,851 |
32,807,354 |
24,338,497 |
- |
Materials |
58,273,552 |
27,872,174 |
30,401,378 |
- |
Money Market Funds |
21,643,314 |
21,643,314 |
- |
- |
Total Investments in Securities: |
$ 634,904,436 |
$ 403,645,820 |
$ 231,258,616 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 27,223,905 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $539,475,727. Net unrealized appreciation aggregated $95,428,709, of which $129,766,704 related to appreciated investment securities and $34,337,995 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® International
Value Fund
January 31, 2015
1.844602.108
FIV-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 96.9% |
|||
Shares |
Value |
||
Australia - 5.0% |
|||
Ansell Ltd. |
52,575 |
$ 922,835 |
|
Australia & New Zealand Banking Group Ltd. |
116,005 |
2,961,317 |
|
Telstra Corp. Ltd. |
215,559 |
1,087,277 |
|
Transurban Group unit |
196,204 |
1,403,174 |
|
Westpac Banking Corp. |
140,895 |
3,765,569 |
|
TOTAL AUSTRALIA |
10,140,172 |
||
Bailiwick of Jersey - 1.7% |
|||
Shire PLC |
24,900 |
1,817,398 |
|
Wolseley PLC |
27,537 |
1,601,812 |
|
TOTAL BAILIWICK OF JERSEY |
3,419,210 |
||
Belgium - 0.7% |
|||
Anheuser-Busch InBev SA NV |
11,070 |
1,350,165 |
|
Bermuda - 0.2% |
|||
Travelport Worldwide Ltd. (d) |
31,200 |
486,408 |
|
Canada - 1.1% |
|||
Imperial Oil Ltd. |
24,200 |
899,668 |
|
Potash Corp. of Saskatchewan, Inc. |
36,500 |
1,328,787 |
|
TOTAL CANADA |
2,228,455 |
||
Denmark - 0.4% |
|||
Topdanmark A/S (a) |
24,900 |
834,935 |
|
Finland - 1.2% |
|||
Sampo Oyj (A Shares) |
49,634 |
2,407,229 |
|
France - 16.2% |
|||
Atos Origin SA |
23,542 |
1,744,589 |
|
AXA SA |
113,621 |
2,677,610 |
|
BNP Paribas SA |
47,447 |
2,507,847 |
|
Cap Gemini SA |
28,693 |
2,093,559 |
|
GDF Suez |
77,278 |
1,722,469 |
|
Havas SA |
159,866 |
1,237,443 |
|
Orange SA |
152,500 |
2,682,946 |
|
Renault SA |
16,345 |
1,259,828 |
|
Sanofi SA |
49,241 |
4,537,061 |
|
Schneider Electric SA |
27,105 |
2,052,120 |
|
Total SA |
107,663 |
5,526,405 |
|
Unibail-Rodamco |
8,000 |
2,260,904 |
|
Vivendi SA |
101,768 |
2,418,980 |
|
TOTAL FRANCE |
32,721,761 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - 7.0% |
|||
Allianz SE |
21,580 |
$ 3,558,358 |
|
BASF AG |
38,557 |
3,463,768 |
|
Bayer AG |
15,003 |
2,170,882 |
|
Continental AG |
6,766 |
1,534,468 |
|
Fresenius SE & Co. KGaA |
32,900 |
1,887,105 |
|
GEA Group AG |
33,279 |
1,513,424 |
|
TOTAL GERMANY |
14,128,005 |
||
Ireland - 1.2% |
|||
Actavis PLC (a) |
8,700 |
2,318,898 |
|
Israel - 1.3% |
|||
Teva Pharmaceutical Industries Ltd. sponsored ADR |
44,599 |
2,535,899 |
|
Italy - 1.8% |
|||
Intesa Sanpaolo SpA |
513,600 |
1,501,901 |
|
Mediaset SpA (a) |
212,400 |
968,208 |
|
Telecom Italia SpA (a) |
1,041,900 |
1,210,654 |
|
TOTAL ITALY |
3,680,763 |
||
Japan - 18.8% |
|||
Astellas Pharma, Inc. |
136,600 |
2,109,837 |
|
Dentsu, Inc. |
31,700 |
1,301,936 |
|
East Japan Railway Co. |
20,900 |
1,614,277 |
|
Fujitsu Ltd. |
201,000 |
1,062,181 |
|
Hitachi Ltd. |
231,000 |
1,744,534 |
|
Hoya Corp. |
56,800 |
2,201,147 |
|
Itochu Corp. |
125,100 |
1,266,695 |
|
Japan Tobacco, Inc. |
78,800 |
2,146,248 |
|
KDDI Corp. |
33,100 |
2,336,495 |
|
Mitsubishi Electric Corp. |
90,000 |
1,040,916 |
|
Mitsubishi UFJ Financial Group, Inc. |
794,700 |
4,223,251 |
|
Nippon Prologis REIT, Inc. |
220 |
517,979 |
|
Nippon Telegraph & Telephone Corp. |
34,800 |
2,059,700 |
|
OMRON Corp. |
27,200 |
1,087,420 |
|
ORIX Corp. |
97,400 |
1,119,206 |
|
Seven & i Holdings Co., Ltd. |
58,100 |
2,126,117 |
|
Seven Bank Ltd. |
271,500 |
1,215,170 |
|
SoftBank Corp. |
11,800 |
694,450 |
|
Sony Financial Holdings, Inc. |
68,400 |
950,624 |
|
Sumitomo Mitsui Trust Holdings, Inc. |
442,000 |
1,554,305 |
|
Toyota Motor Corp. |
85,600 |
5,518,716 |
|
TOTAL JAPAN |
37,891,204 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Korea (South) - 0.5% |
|||
Samsung Electronics Co. Ltd. |
892 |
$ 1,098,488 |
|
Luxembourg - 0.5% |
|||
RTL Group SA |
10,939 |
1,037,094 |
|
Netherlands - 2.3% |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
145,690 |
1,811,278 |
|
Reed Elsevier NV |
117,061 |
2,861,974 |
|
TOTAL NETHERLANDS |
4,673,252 |
||
Singapore - 1.1% |
|||
Singapore Telecommunications Ltd. |
641,000 |
1,930,355 |
|
UOL Group Ltd. |
62,700 |
333,681 |
|
TOTAL SINGAPORE |
2,264,036 |
||
Spain - 2.4% |
|||
Amadeus IT Holding SA Class A |
28,262 |
1,136,604 |
|
Iberdrola SA |
386,724 |
2,677,924 |
|
Mediaset Espana Comunicacion, S.A. (a) |
88,500 |
1,079,554 |
|
TOTAL SPAIN |
4,894,082 |
||
Sweden - 1.4% |
|||
Nordea Bank AB |
222,000 |
2,825,240 |
|
Switzerland - 5.4% |
|||
Nestle SA |
54,537 |
4,165,044 |
|
Novartis AG |
34,240 |
3,336,784 |
|
Roche Holding AG (participation certificate) |
3,854 |
1,038,720 |
|
Syngenta AG (Switzerland) |
3,101 |
1,010,101 |
|
UBS Group AG |
81,958 |
1,367,059 |
|
TOTAL SWITZERLAND |
10,917,708 |
||
United Kingdom - 23.6% |
|||
AstraZeneca PLC (United Kingdom) |
53,282 |
3,792,897 |
|
BAE Systems PLC |
326,429 |
2,495,212 |
|
Barclays PLC |
700,353 |
2,459,660 |
|
BG Group PLC |
72,400 |
965,662 |
|
BP PLC sponsored ADR |
113,000 |
4,387,790 |
|
Bunzl PLC |
73,660 |
2,104,659 |
|
Compass Group PLC |
131,339 |
2,276,940 |
|
HSBC Holdings PLC sponsored ADR (d) |
93,542 |
4,276,740 |
|
Imperial Tobacco Group PLC |
54,405 |
2,559,956 |
|
Informa PLC |
153,772 |
1,185,850 |
|
ITV PLC |
591,696 |
1,960,668 |
|
Johnson Matthey PLC |
21,600 |
1,060,931 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
Liberty Global PLC Class A (a) |
27,100 |
$ 1,266,112 |
|
Lloyds Banking Group PLC (a) |
2,778,100 |
3,077,620 |
|
Meggitt PLC |
27,813 |
225,798 |
|
National Grid PLC |
198,782 |
2,794,675 |
|
Prudential PLC |
67,351 |
1,637,329 |
|
Rio Tinto PLC |
73,800 |
3,242,992 |
|
Standard Chartered PLC (United Kingdom) |
37,125 |
496,381 |
|
Tesco PLC |
245,800 |
831,213 |
|
Vodafone Group PLC sponsored ADR |
127,958 |
4,495,165 |
|
TOTAL UNITED KINGDOM |
47,594,250 |
||
United States of America - 3.1% |
|||
Altria Group, Inc. |
30,600 |
1,624,860 |
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
15,600 |
1,723,020 |
|
Energizer Holdings, Inc. |
1,955 |
250,260 |
|
McGraw Hill Financial, Inc. |
13,100 |
1,171,664 |
|
ResMed, Inc. CDI (d) |
227,814 |
1,419,040 |
|
TOTAL UNITED STATES OF AMERICA |
6,188,844 |
||
TOTAL COMMON STOCKS (Cost $196,419,544) |
|
||
Nonconvertible Preferred Stocks - 1.1% |
|||
|
|
|
|
Germany - 1.1% |
|||
Volkswagen AG |
10,331 |
|
|
Money Market Funds - 2.5% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
2,713,146 |
$ 2,713,146 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
2,397,030 |
2,397,030 |
|
TOTAL MONEY MARKET FUNDS (Cost $5,110,176) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $203,803,405) |
203,061,234 |
||
NET OTHER ASSETS (LIABILITIES) - (0.5)% |
(1,072,653) |
||
NET ASSETS - 100% |
$ 201,988,581 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 580 |
Fidelity Securities Lending Cash Central Fund |
14,556 |
Total |
$ 15,136 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 28,436,407 |
$ 16,607,533 |
$ 11,828,874 |
$ - |
Consumer Staples |
14,630,635 |
6,158,096 |
8,472,539 |
- |
Energy |
11,779,525 |
5,287,458 |
6,492,067 |
- |
Financials |
51,512,857 |
20,825,609 |
30,687,248 |
- |
Health Care |
27,887,356 |
8,912,784 |
18,974,572 |
- |
Industrials |
15,318,087 |
9,993,025 |
5,325,062 |
- |
Information Technology |
12,168,522 |
4,974,752 |
7,193,770 |
- |
Materials |
10,106,579 |
5,853,486 |
4,253,093 |
- |
Telecommunication Services |
18,916,022 |
6,914,145 |
12,001,877 |
- |
Utilities |
7,195,068 |
4,400,393 |
2,794,675 |
- |
Money Market Funds |
5,110,176 |
5,110,176 |
- |
- |
Total Investments in Securities: |
$ 203,061,234 |
$ 95,037,457 |
$ 108,023,777 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 3,667,769 |
Level 2 to Level 1 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $204,514,965. Net unrealized depreciation aggregated $1,453,731, of which $15,439,154 related to appreciated investment securities and $16,892,885 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Japan Fund
January 31, 2015
1.813056.110
JPN-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 99.1% |
|||
Shares |
Value |
||
CONSUMER DISCRETIONARY - 26.3% |
|||
Auto Components - 4.0% |
|||
Bridgestone Corp. |
236,400 |
$ 9,448,280 |
|
NGK Spark Plug Co. Ltd. |
44,000 |
1,304,375 |
|
Sumitomo Electric Industries Ltd. |
505,100 |
6,508,562 |
|
|
17,261,217 |
||
Automobiles - 11.4% |
|||
Honda Motor Co. Ltd. |
542,800 |
16,378,856 |
|
Mazda Motor Corp. |
276,900 |
5,687,656 |
|
Suzuki Motor Corp. |
376,800 |
11,914,484 |
|
Toyota Motor Corp. |
238,600 |
15,382,776 |
|
|
49,363,772 |
||
Household Durables - 2.6% |
|||
Iida Group Holdings Co. Ltd. |
339,400 |
4,221,327 |
|
Rinnai Corp. |
20,100 |
1,345,424 |
|
Sony Corp. |
232,400 |
5,466,301 |
|
|
11,033,052 |
||
Internet & Catalog Retail - 4.0% |
|||
Rakuten, Inc. |
1,245,100 |
17,237,508 |
|
Leisure Products - 0.3% |
|||
Sega Sammy Holdings, Inc. |
83,300 |
1,084,749 |
|
Multiline Retail - 1.6% |
|||
Don Quijote Holdings Co. Ltd. |
65,100 |
4,739,772 |
|
Marui Group Co. Ltd. |
223,700 |
2,325,271 |
|
|
7,065,043 |
||
Textiles, Apparel & Luxury Goods - 2.4% |
|||
Japan Tobacco, Inc. |
387,900 |
10,565,098 |
|
TOTAL CONSUMER DISCRETIONARY |
113,610,439 |
||
CONSUMER STAPLES - 2.7% |
|||
Food & Staples Retailing - 2.7% |
|||
Seven & i Holdings Co., Ltd. |
158,200 |
5,789,186 |
|
Sundrug Co. Ltd. |
56,600 |
2,402,495 |
|
Tsuruha Holdings, Inc. |
24,800 |
1,666,460 |
|
Welcia Holdings Co. Ltd. |
45,700 |
1,682,170 |
|
|
11,540,311 |
||
FINANCIALS - 16.5% |
|||
Banks - 3.7% |
|||
Mitsubishi UFJ Financial Group, Inc. |
2,986,700 |
15,872,131 |
|
Capital Markets - 0.6% |
|||
Monex Group, Inc. |
1,190,400 |
2,443,909 |
|
Consumer Finance - 1.5% |
|||
ACOM Co. Ltd. (a)(d) |
2,413,300 |
6,565,221 |
|
Diversified Financial Services - 4.1% |
|||
Japan Exchange Group, Inc. |
255,300 |
5,940,949 |
|
ORIX Corp. |
1,021,800 |
11,741,319 |
|
|
17,682,268 |
||
|
|||
Shares |
Value |
||
Insurance - 2.2% |
|||
Tokio Marine Holdings, Inc. |
275,100 |
$ 9,604,347 |
|
Real Estate Investment Trusts - 0.4% |
|||
Sekisui House (REIT), Inc. (a) |
1,502 |
1,814,423 |
|
Real Estate Management & Development - 4.0% |
|||
AEON MALL Co. Ltd. |
282,700 |
4,686,485 |
|
Mitsui Fudosan Co. Ltd. |
494,000 |
12,489,118 |
|
|
17,175,603 |
||
TOTAL FINANCIALS |
71,157,902 |
||
HEALTH CARE - 10.6% |
|||
Health Care Equipment & Supplies - 1.0% |
|||
Olympus Corp. (a) |
126,200 |
4,364,507 |
|
Health Care Providers & Services - 3.7% |
|||
Message Co. Ltd. (d) |
243,700 |
6,506,299 |
|
Miraca Holdings, Inc. |
104,100 |
4,662,304 |
|
Ship Healthcare Holdings, Inc. |
191,100 |
4,742,586 |
|
|
15,911,189 |
||
Pharmaceuticals - 5.9% |
|||
Astellas Pharma, Inc. |
1,633,900 |
25,236,190 |
|
TOTAL HEALTH CARE |
45,511,886 |
||
INDUSTRIALS - 12.8% |
|||
Building Products - 0.6% |
|||
Toto Ltd. |
235,000 |
2,594,242 |
|
Construction & Engineering - 1.4% |
|||
Toshiba Plant Systems & Services Corp. |
386,100 |
5,918,065 |
|
Electrical Equipment - 1.7% |
|||
Mitsubishi Electric Corp. |
641,000 |
7,413,635 |
|
Industrial Conglomerates - 1.2% |
|||
Toshiba Corp. |
1,288,000 |
5,150,178 |
|
Machinery - 2.9% |
|||
Komatsu Ltd. |
358,700 |
7,033,906 |
|
Makita Corp. |
117,000 |
5,189,716 |
|
|
12,223,622 |
||
Road & Rail - 4.2% |
|||
East Japan Railway Co. |
234,900 |
18,143,236 |
|
Trading Companies & Distributors - 0.8% |
|||
Misumi Group, Inc. |
96,100 |
3,589,663 |
|
TOTAL INDUSTRIALS |
55,032,641 |
||
INFORMATION TECHNOLOGY - 15.7% |
|||
Electronic Equipment & Components - 10.5% |
|||
Azbil Corp. |
207,200 |
5,148,279 |
|
Hitachi Ltd. |
1,572,000 |
11,871,896 |
|
Hoya Corp. |
452,700 |
17,543,300 |
|
OMRON Corp. |
66,500 |
2,658,581 |
|
Shimadzu Corp. |
792,000 |
8,228,755 |
|
|
45,450,811 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
INFORMATION TECHNOLOGY - continued |
|||
Internet Software & Services - 3.2% |
|||
Kakaku.com, Inc. |
617,000 |
$ 8,728,218 |
|
NAVER Corp. |
7,649 |
4,918,228 |
|
|
13,646,446 |
||
Semiconductors & Semiconductor Equipment - 0.1% |
|||
Sanken Electric Co. Ltd. |
35,000 |
286,272 |
|
Technology Hardware, Storage & Peripherals - 1.9% |
|||
NEC Corp. |
1,365,000 |
3,855,655 |
|
Samsung Electronics Co. Ltd. |
3,718 |
4,578,677 |
|
|
8,434,332 |
||
TOTAL INFORMATION TECHNOLOGY |
67,817,861 |
||
MATERIALS - 3.8% |
|||
Chemicals - 3.2% |
|||
JSR Corp. |
289,800 |
5,107,958 |
|
Shin-Etsu Chemical Co., Ltd. |
132,600 |
8,780,003 |
|
|
13,887,961 |
||
Metals & Mining - 0.6% |
|||
Kobe Steel Ltd. |
806,000 |
1,413,570 |
|
Yamato Kogyo Co. Ltd. |
38,500 |
990,832 |
|
|
2,404,402 |
||
TOTAL MATERIALS |
16,292,363 |
||
TELECOMMUNICATION SERVICES - 8.8% |
|||
Diversified Telecommunication Services - 1.3% |
|||
Nippon Telegraph & Telephone Corp. |
95,800 |
5,670,094 |
|
Wireless Telecommunication Services - 7.5% |
|||
KDDI Corp. |
246,000 |
17,364,885 |
|
SoftBank Corp. |
252,100 |
14,836,513 |
|
|
32,201,398 |
||
TOTAL TELECOMMUNICATION SERVICES |
37,871,492 |
||
|
|||
Shares |
Value |
||
UTILITIES - 1.9% |
|||
Electric Utilities - 1.9% |
|||
Kansai Electric Power Co., Inc. (a) |
867,400 |
$ 8,386,793 |
|
TOTAL COMMON STOCKS (Cost $434,522,015) |
|
||
Money Market Funds - 2.7% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
2,868,665 |
2,868,665 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
8,887,676 |
8,887,676 |
|
TOTAL MONEY MARKET FUNDS (Cost $11,756,341) |
|
TOTAL INVESTMENT PORTFOLIO - 101.8% (Cost $446,278,356) |
|
NET OTHER ASSETS (LIABILITIES) - (1.8)% |
(7,753,239) |
||
NET ASSETS - 100% |
$ 431,224,790 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 669 |
Fidelity Securities Lending Cash Central Fund |
12,055 |
Total |
$ 12,724 |
Other Information |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 113,610,439 |
$ - |
$ 113,610,439 |
$ - |
Consumer Staples |
11,540,311 |
- |
11,540,311 |
- |
Financials |
71,157,902 |
- |
71,157,902 |
- |
Health Care |
45,511,886 |
- |
45,511,886 |
- |
Industrials |
55,032,641 |
- |
55,032,641 |
- |
Information Technology |
67,817,861 |
- |
67,817,861 |
- |
Materials |
16,292,363 |
- |
16,292,363 |
- |
Telecommunication Services |
37,871,492 |
- |
37,871,492 |
- |
Utilities |
8,386,793 |
- |
8,386,793 |
- |
Money Market Funds |
11,756,341 |
11,756,341 |
- |
- |
Total Investments in Securities: |
$ 438,978,029 |
$ 11,756,341 |
$ 427,221,688 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 7,776,927 |
Level 2 to Level 1 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $449,970,332. Net unrealized depreciation aggregated $10,992,303, of which $29,731,703 related to appreciated investment securities and $40,724,006 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Japan Smaller Companies Fund
January 31, 2015
1.813017.110
JSC-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.5% |
|||
Shares |
Value |
||
CONSUMER DISCRETIONARY - 21.4% |
|||
Auto Components - 3.5% |
|||
Bridgestone Corp. |
93,600 |
$ 3,740,943 |
|
Kinugawa Rubber Industrial Co. Ltd. |
1,177,000 |
5,274,400 |
|
NHK Spring Co. Ltd. |
506,300 |
4,566,740 |
|
|
13,582,083 |
||
Automobiles - 1.3% |
|||
Daihatsu Motor Co. Ltd. |
354,300 |
4,940,530 |
|
Distributors - 1.7% |
|||
Central Automotive Products Ltd. |
444,000 |
2,997,681 |
|
Chori Co. Ltd. |
237,500 |
3,846,390 |
|
|
6,844,071 |
||
Diversified Consumer Services - 1.1% |
|||
Asante, Inc. |
398,000 |
4,309,230 |
|
Hotels, Restaurants & Leisure - 2.2% |
|||
Koshidaka Holdings Co. Ltd. |
280,600 |
5,101,269 |
|
St. Marc Holdings Co. Ltd. |
58,100 |
3,736,003 |
|
|
8,837,272 |
||
Household Durables - 1.8% |
|||
Higashi Nihon House Co. Ltd. |
1,159,600 |
5,064,221 |
|
Hoosiers Holdings Co. Ltd. |
513,500 |
2,151,329 |
|
|
7,215,550 |
||
Leisure Products - 0.7% |
|||
KAWAI Musical Instruments Manufacturing Co. Ltd. |
135,800 |
2,681,827 |
|
Media - 2.4% |
|||
Daiichikosho Co. Ltd. |
225,700 |
6,536,184 |
|
Proto Corp. |
173,400 |
2,716,346 |
|
|
9,252,530 |
||
Specialty Retail - 5.7% |
|||
Arc Land Sakamoto Co. Ltd. |
159,500 |
2,975,145 |
|
Asahi Co. Ltd. (d) |
360,400 |
3,526,453 |
|
Fuji Corp. |
224,200 |
3,231,321 |
|
K's Denki Corp. |
162,600 |
4,775,543 |
|
Nitori Holdings Co. Ltd. |
69,900 |
3,952,112 |
|
VT Holdings Co. Ltd. |
986,700 |
3,970,932 |
|
|
22,431,506 |
||
Textiles, Apparel & Luxury Goods - 1.0% |
|||
Hagihara Industries, Inc. |
93,200 |
1,542,070 |
|
Japan Tobacco, Inc. |
83,100 |
2,263,366 |
|
|
3,805,436 |
||
TOTAL CONSUMER DISCRETIONARY |
83,900,035 |
||
CONSUMER STAPLES - 6.2% |
|||
Food & Staples Retailing - 3.7% |
|||
Kato Sangyo |
255,800 |
4,689,989 |
|
Mitsubishi Shokuhin Co. Ltd. |
130,700 |
2,901,162 |
|
|
|||
Shares |
Value |
||
San-A Co. Ltd. |
116,600 |
$ 3,892,756 |
|
Sogo Medical Co. Ltd. |
66,400 |
3,198,958 |
|
|
14,682,865 |
||
Food Products - 2.5% |
|||
Kotobuki Spirits Co. Ltd. |
202,500 |
4,670,613 |
|
Rokko Butter Co. Ltd. |
229,100 |
2,066,687 |
|
Toyo Suisan Kaisha Ltd. |
81,900 |
2,881,324 |
|
|
9,618,624 |
||
TOTAL CONSUMER STAPLES |
24,301,489 |
||
ENERGY - 1.8% |
|||
Energy Equipment & Services - 0.9% |
|||
Shinko Plantech Co. Ltd. |
497,100 |
3,714,127 |
|
Oil, Gas & Consumable Fuels - 0.9% |
|||
San-Ai Oil Co. Ltd. |
532,000 |
3,530,262 |
|
TOTAL ENERGY |
7,244,389 |
||
FINANCIALS - 11.4% |
|||
Banks - 3.3% |
|||
Fukuoka Financial Group, Inc. |
899,000 |
4,486,700 |
|
Shinsei Bank Ltd. |
2,922,000 |
5,296,195 |
|
Sumitomo Mitsui Financial Group, Inc. |
94,600 |
3,174,477 |
|
|
12,957,372 |
||
Capital Markets - 1.6% |
|||
Aizawa Securities Co. Ltd. |
603,800 |
3,021,004 |
|
Kyokuto Securities Co. Ltd. |
210,400 |
3,030,435 |
|
|
6,051,439 |
||
Consumer Finance - 0.8% |
|||
ACOM Co. Ltd. (a) |
1,209,700 |
3,290,908 |
|
Diversified Financial Services - 1.6% |
|||
Fuyo General Lease Co. Ltd. |
151,100 |
4,864,028 |
|
ORIX Corp. |
130,000 |
1,493,807 |
|
|
6,357,835 |
||
Insurance - 1.3% |
|||
Tokio Marine Holdings, Inc. |
141,100 |
4,926,112 |
|
Real Estate Management & Development - 2.8% |
|||
Daito Trust Construction Co. Ltd. |
52,300 |
5,821,763 |
|
Leopalace21 Corp. (a) |
798,100 |
5,163,953 |
|
|
10,985,716 |
||
TOTAL FINANCIALS |
44,569,382 |
||
HEALTH CARE - 5.4% |
|||
Health Care Equipment & Supplies - 2.3% |
|||
Fukuda Denshi Co. Ltd. |
71,600 |
3,554,913 |
|
Medikit Co. Ltd. |
111,000 |
3,469,423 |
|
Paramount Bed Holdings Co. Ltd. |
74,600 |
2,063,364 |
|
|
9,087,700 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
HEALTH CARE - continued |
|||
Health Care Providers & Services - 2.2% |
|||
A/S One Corp. |
126,000 |
$ 3,371,092 |
|
Miraca Holdings, Inc. |
118,100 |
5,289,319 |
|
|
8,660,411 |
||
Pharmaceuticals - 0.9% |
|||
Astellas Pharma, Inc. |
210,700 |
3,254,339 |
|
TOTAL HEALTH CARE |
21,002,450 |
||
INDUSTRIALS - 23.1% |
|||
Building Products - 3.2% |
|||
Bunka Shutter Co. Ltd. |
469,000 |
3,789,470 |
|
Sekisui Jushi Corp. |
341,000 |
4,533,117 |
|
Sinko Industries Ltd. |
362,200 |
4,199,180 |
|
|
12,521,767 |
||
Commercial Services & Supplies - 1.7% |
|||
Aeon Delight Co. Ltd. |
176,500 |
3,952,927 |
|
Asia Securities Printing Co. Ltd. |
435,400 |
2,762,789 |
|
|
6,715,716 |
||
Construction & Engineering - 2.8% |
|||
Hokuriku Electrical Construction Co. Ltd. |
439,000 |
2,996,886 |
|
Nippon Koei Co. Ltd. |
882,000 |
3,545,160 |
|
Toshiba Plant Systems & Services Corp. |
300,700 |
4,609,070 |
|
|
11,151,116 |
||
Electrical Equipment - 1.0% |
|||
Aichi Electric Co. Ltd. |
326,000 |
1,283,052 |
|
Denyo Co. Ltd. |
152,100 |
2,511,887 |
|
|
3,794,939 |
||
Machinery - 4.9% |
|||
Daiwa Industries Ltd. |
409,000 |
2,485,425 |
|
Hitachi Zosen Fukui Corp. |
155,900 |
2,001,632 |
|
Kato Works Co. Ltd. |
315,000 |
2,462,931 |
|
Komatsu Ltd. |
250,400 |
4,910,204 |
|
Oiles Corp. |
272,780 |
5,033,977 |
|
Sakai Heavy Industries Ltd. |
823,000 |
2,152,106 |
|
|
19,046,275 |
||
Professional Services - 3.5% |
|||
Eri Holdings Co. Ltd. (e) |
452,300 |
3,756,036 |
|
Meitec Corp. |
71,900 |
2,098,161 |
|
TFP Consulting Group Co. Ltd. |
141,000 |
3,865,682 |
|
Weathernews, Inc. |
156,600 |
3,966,832 |
|
|
13,686,711 |
||
Trading Companies & Distributors - 4.9% |
|||
Daiichi Jitsugyo Co. Ltd. |
518,000 |
2,675,327 |
|
JK Holdings Co. Ltd. |
425,400 |
2,005,568 |
|
Maruka Machinery Co. Ltd. (d) |
159,900 |
2,280,047 |
|
Mitani Shoji Co. Ltd. |
256,000 |
5,889,000 |
|
|
|||
Shares |
Value |
||
Yamazen Co. Ltd. |
555,400 |
$ 3,904,386 |
|
Yuasa Trading Co. Ltd. |
110,000 |
2,263,516 |
|
|
19,017,844 |
||
Transportation Infrastructure - 1.1% |
|||
Kamigumi Co. Ltd. |
445,000 |
4,446,904 |
|
TOTAL INDUSTRIALS |
90,381,272 |
||
INFORMATION TECHNOLOGY - 12.7% |
|||
Electronic Equipment & Components - 6.4% |
|||
Amano Corp. |
485,000 |
5,154,952 |
|
Kanematsu Electric Ltd. |
196,300 |
2,954,081 |
|
Macnica, Inc. |
173,400 |
5,110,613 |
|
OMRON Corp. |
103,000 |
4,117,802 |
|
Ryoyo Electro Corp. |
358,600 |
3,731,664 |
|
Siix Corp. |
181,300 |
3,892,124 |
|
|
24,961,236 |
||
IT Services - 2.1% |
|||
CAC Corp. |
377,200 |
3,614,036 |
|
Saison Information Systems Co. Ltd. |
187,800 |
1,708,103 |
|
TKC Corp. |
156,400 |
2,769,399 |
|
|
8,091,538 |
||
Software - 3.2% |
|||
Broadleaf Co. Ltd. |
333,900 |
5,153,547 |
|
Oracle Corp. Japan |
79,800 |
3,317,686 |
|
SRA Holdings, Inc. |
329,400 |
4,080,669 |
|
|
12,551,902 |
||
Technology Hardware, Storage & Peripherals - 1.0% |
|||
Elecom Co. Ltd. |
182,900 |
4,164,427 |
|
TOTAL INFORMATION TECHNOLOGY |
49,769,103 |
||
MATERIALS - 9.2% |
|||
Chemicals - 9.2% |
|||
C. Uyemura & Co. Ltd. |
85,600 |
4,338,966 |
|
JSR Corp. |
354,000 |
6,239,535 |
|
Kuraray Co. Ltd. |
505,500 |
6,347,505 |
|
Lintec Corp. |
272,600 |
5,998,634 |
|
Sakata INX Corp. |
409,400 |
4,331,211 |
|
SK Kaken Co. Ltd. |
40,000 |
3,074,921 |
|
Tokyo Ohka Kogyo Co. Ltd. |
166,000 |
5,708,165 |
|
|
36,038,937 |
||
TELECOMMUNICATION SERVICES - 0.6% |
|||
Wireless Telecommunication Services - 0.6% |
|||
KDDI Corp. |
32,900 |
2,322,377 |
|
UTILITIES - 3.7% |
|||
Electric Utilities - 2.0% |
|||
Hokuriku Electric Power Co., Inc. |
253,400 |
3,581,084 |
|
The Okinawa Electric Power Co., Inc. |
128,100 |
4,437,638 |
|
|
8,018,722 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
UTILITIES - continued |
|||
Gas Utilities - 1.7% |
|||
Tokyo Gas Co. Ltd. |
1,089,000 |
$ 6,496,016 |
|
TOTAL UTILITIES |
14,514,738 |
||
TOTAL COMMON STOCKS (Cost $360,494,140) |
|
||
Money Market Funds - 3.8% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
14,562,761 |
14,562,761 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
260,720 |
260,720 |
|
TOTAL MONEY MARKET FUNDS (Cost $14,823,481) |
|
TOTAL INVESTMENT PORTFOLIO - 99.3% (Cost $375,317,621) |
|
NET OTHER ASSETS (LIABILITIES) - 0.7% |
2,636,547 |
||
NET ASSETS - 100% |
$ 391,504,200 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 2,447 |
Fidelity Securities Lending Cash Central Fund |
4,624 |
Total |
$ 7,071 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Eri Holdings Co. Ltd. |
$ 4,702,074 |
$ - |
$ - |
$ 58,783 |
$ 3,756,036 |
Other Information |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 83,900,035 |
$ - |
$ 83,900,035 |
$ - |
Consumer Staples |
24,301,489 |
- |
24,301,489 |
- |
Energy |
7,244,389 |
- |
7,244,389 |
- |
Financials |
44,569,382 |
- |
44,569,382 |
- |
Health Care |
21,002,450 |
- |
21,002,450 |
- |
Industrials |
90,381,272 |
- |
90,381,272 |
- |
Information Technology |
49,769,103 |
- |
49,769,103 |
- |
Materials |
36,038,937 |
- |
36,038,937 |
- |
Telecommunication Services |
2,322,377 |
- |
2,322,377 |
- |
Utilities |
14,514,738 |
- |
14,514,738 |
- |
Money Market Funds |
14,823,481 |
14,823,481 |
- |
- |
Total Investments in Securities: |
$ 388,867,653 |
$ 14,823,481 |
$ 374,044,172 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $378,777,386. Net unrealized appreciation aggregated $10,090,267, of which $28,568,547 related to appreciated investment securities and $18,478,280 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Latin America Fund
January 31, 2015
1.813035.110
LAF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 72.1% |
|||
Shares |
Value |
||
Belgium - 0.4% |
|||
Euronav NV (a) |
152,900 |
$ 1,795,153 |
|
Euronav NV |
128,200 |
1,538,400 |
|
TOTAL BELGIUM |
3,333,553 |
||
Brazil - 20.8% |
|||
Banco Bradesco SA |
292,400 |
3,650,573 |
|
BB Seguridade Participacoes SA |
1,023,500 |
11,214,348 |
|
Brasil Brokers Participacoes SA |
2,325,700 |
2,340,218 |
|
BTG Pactual Participations Ltd. unit |
884,900 |
8,706,367 |
|
CCR SA |
1,880,900 |
10,710,948 |
|
Cielo SA |
844,200 |
12,584,739 |
|
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) |
1,676,200 |
8,308,380 |
|
Cyrela Brazil Realty SA |
478,500 |
1,927,731 |
|
Embraer SA |
395,800 |
3,501,832 |
|
Estacio Participacoes SA |
1,094,700 |
6,809,109 |
|
Fleury SA |
1,169,400 |
6,036,035 |
|
Hypermarcas SA (a) |
1,554,700 |
10,562,632 |
|
Industrias Romi SA |
2,808,900 |
2,093,655 |
|
M. Dias Branco SA |
299,900 |
9,254,345 |
|
MAHLE Metal Leve SA |
196,000 |
1,460,915 |
|
Multiplus SA |
838,600 |
10,860,468 |
|
Petroleo Brasileiro SA - Petrobras (ON) |
2,425,228 |
7,266,872 |
|
QGEP Participacoes SA |
2,268,400 |
4,818,738 |
|
Souza Cruz SA |
1,752,600 |
14,689,639 |
|
Tegma Gestao Logistica SA |
285,800 |
1,475,200 |
|
TIM Participacoes SA |
1,788,795 |
7,893,164 |
|
Tractebel Energia SA |
313,375 |
3,636,820 |
|
Vale SA |
563,900 |
3,910,996 |
|
TOTAL BRAZIL |
153,713,724 |
||
Canada - 0.2% |
|||
Rio Alto Mining Ltd. (a) |
572,400 |
1,635,171 |
|
Chile - 10.7% |
|||
Aguas Andinas SA |
9,816,128 |
5,654,987 |
|
Banco de Chile |
68,264,691 |
7,520,558 |
|
Banco de Chile sponsored ADR (d) |
72,837 |
4,788,304 |
|
CAP SA |
98,863 |
241,860 |
|
Colbun SA |
8,776,754 |
2,403,433 |
|
Compania Cervecerias Unidas SA |
1,655,739 |
15,215,457 |
|
CorpBanca SA |
828,252,911 |
9,150,810 |
|
Empresa Nacional de Telecomunicaciones SA (ENTEL) |
1,318,615 |
12,487,279 |
|
Forus SA |
600,674 |
2,180,735 |
|
Inversiones La Construccion SA |
975,921 |
11,703,412 |
|
LATAM Airlines Group SA (a) |
351,316 |
3,698,472 |
|
LATAM Airlines Group SA sponsored ADR (a)(d) |
26,912 |
279,077 |
|
Sociedad Matriz SAAM SA |
59,433,277 |
4,221,247 |
|
TOTAL CHILE |
79,545,631 |
||
|
|||
Shares |
Value |
||
Colombia - 7.2% |
|||
BanColombia SA |
440,537 |
$ 4,957,847 |
|
BanColombia SA sponsored ADR |
27,700 |
1,281,679 |
|
Bolsa de Valores de Colombia |
640,899,506 |
4,859,279 |
|
Cemex Latam Holdings SA (a) |
707,206 |
4,411,342 |
|
Empresa de Telecomunicaciones de Bogota |
38,213,250 |
7,047,526 |
|
Grupo Aval Acciones y Valores SA |
4,245,295 |
2,166,144 |
|
Grupo de Inversiones Suramerica SA |
996,646 |
14,459,536 |
|
Inversiones Argos SA |
1,878,253 |
14,256,248 |
|
TOTAL COLOMBIA |
53,439,601 |
||
Mexico - 25.7% |
|||
America Movil S.A.B. de CV: |
|
|
|
Series L |
7,064,800 |
7,555,205 |
|
Series L sponsored ADR |
2,321,173 |
49,649,890 |
|
Consorcio ARA S.A.B. de CV (a) |
25,539,905 |
11,006,891 |
|
Corporativo GBM S.A.B. de CV |
106,754 |
105,404 |
|
Embotelladoras Arca S.A.B. de CV (a) |
524,700 |
3,101,399 |
|
Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a) |
328,505 |
27,449,878 |
|
Gruma S.A.B. de CV Series B |
241,109 |
2,611,592 |
|
Grupo Aeroportuario del Pacifico SA de CV: |
|
|
|
Series B |
43,100 |
284,947 |
|
sponsored ADR |
117,200 |
7,783,252 |
|
Grupo Carso SA de CV Series A1 |
740,100 |
3,237,490 |
|
Grupo Financiero Inbursa S.A.B. de CV Series O |
6,976,319 |
17,988,240 |
|
Grupo Financiero Santander Mexico S.A.B. de CV |
4,665,155 |
9,878,383 |
|
Grupo Televisa SA de CV (CPO) sponsored ADR |
283,700 |
9,251,457 |
|
Industrias Penoles SA de CV |
506,693 |
10,001,690 |
|
Medica Sur SA de CV (a) |
1,023,734 |
3,828,715 |
|
Megacable Holdings S.A.B. de CV unit (a) |
1,927,429 |
7,037,472 |
|
Qualitas Controladora S.A.B. de CV (a) |
2,837,000 |
5,628,765 |
|
Wal-Mart de Mexico SA de CV Series V |
7,202,648 |
13,910,848 |
|
TOTAL MEXICO |
190,311,518 |
||
Panama - 1.4% |
|||
Banco Latinoamericano de Comercio Exterior SA Series E |
362,370 |
10,099,252 |
|
Peru - 3.6% |
|||
Alicorp SA Class C |
4,319,086 |
9,800,081 |
|
Compania de Minas Buenaventura SA sponsored ADR |
1,454,936 |
16,615,369 |
|
TOTAL PERU |
26,415,450 |
||
Puerto Rico - 0.3% |
|||
EVERTEC, Inc. |
104,874 |
2,103,772 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Spain - 1.3% |
|||
Prosegur Compania de Seguridad SA (Reg.) |
1,726,154 |
$ 9,616,231 |
|
United States of America - 0.5% |
|||
First Cash Financial Services, Inc. (a) |
68,066 |
3,384,242 |
|
TOTAL COMMON STOCKS (Cost $550,414,536) |
|
||
Nonconvertible Preferred Stocks - 27.1% |
|||
|
|
|
|
Brazil - 26.2% |
|||
Ambev SA sponsored ADR (d) |
7,028,847 |
46,249,813 |
|
Banco Bradesco SA (PN) |
1,737,217 |
21,837,820 |
|
Companhia Brasileira de Distribuicao Grupo Pao de Acucar: |
|
|
|
(PN) |
333,025 |
11,058,428 |
|
sponsored ADR |
169,470 |
5,560,311 |
|
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR |
471,400 |
2,291,004 |
|
Embraer SA sponsored ADR |
278,234 |
9,810,531 |
|
Itau Unibanco Holding SA |
4,208,705 |
51,603,988 |
|
Itausa-Investimentos Itau SA (PN) |
4,064,393 |
13,844,611 |
|
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) |
5,166,571 |
15,750,508 |
|
Telefonica Brasil SA |
201,513 |
3,739,997 |
|
Telefonica Brasil SA sponsored ADR |
114,900 |
2,118,756 |
|
TIM Participacoes SA sponsored ADR |
95,600 |
2,109,892 |
|
Vale SA (PN-A) |
1,222,300 |
7,539,016 |
|
TOTAL BRAZIL |
193,514,675 |
||
Chile - 0.4% |
|||
Embotelladora Andina SA Class A |
1,336,888 |
3,165,081 |
|
|
|||
Shares |
Value |
||
Colombia - 0.5% |
|||
Grupo Aval Acciones y Valores SA |
2,897,449 |
$ 1,525,911 |
|
Grupo de Inversiones Suramerica SA |
163,024 |
2,325,096 |
|
TOTAL COLOMBIA |
3,851,007 |
||
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $137,284,247) |
|
||
Money Market Funds - 1.1% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
2,670,737 |
2,670,737 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
5,218,600 |
5,218,600 |
|
TOTAL MONEY MARKET FUNDS (Cost $7,889,337) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $695,588,120) |
742,018,245 |
||
NET OTHER ASSETS (LIABILITIES) - (0.3)% |
(2,165,821) |
||
NET ASSETS - 100% |
$ 739,852,424 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 1,196 |
Fidelity Securities Lending Cash Central Fund |
16,168 |
Total |
$ 17,364 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
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, 2015, the cost of investment securities for income tax purposes was $696,521,588. Net unrealized appreciation aggregated $45,496,657, of which $195,916,537 related to appreciated investment securities and $150,419,880 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Nordic Fund
January 31, 2015
1.813058.110
NOR-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 98.6% |
|||
Shares |
Value |
||
Bermuda - 1.0% |
|||
Vostok Nafta Investment Ltd. SDR (a)(d) |
1,095,440 |
$ 4,435,141 |
|
Denmark - 21.1% |
|||
Alm Brand A/S (a) |
9,889 |
102,722 |
|
Carlsberg A/S Series B |
259,800 |
19,135,288 |
|
DSV de Sammensluttede Vognmaend A/S |
540,900 |
17,069,336 |
|
Novo Nordisk A/S Series B |
693,705 |
30,918,922 |
|
Topdanmark A/S (a) |
431,700 |
14,475,555 |
|
William Demant Holding A/S (a) |
134,700 |
10,225,978 |
|
TOTAL DENMARK |
91,927,801 |
||
Finland - 19.0% |
|||
Huhtamaki Oyj |
334,800 |
9,189,490 |
|
Kesko Oyj |
510,600 |
18,676,778 |
|
Lassila & Tikahoja Oyj |
580,000 |
11,626,796 |
|
Sampo Oyj (A Shares) |
388,600 |
18,846,945 |
|
Tikkurila Oyj |
129,900 |
2,348,592 |
|
Vaisala Oyj |
256,300 |
6,551,182 |
|
Valmet Corp. |
1,173,785 |
15,120,698 |
|
TOTAL FINLAND |
82,360,481 |
||
Malta - 5.5% |
|||
Kambi Group PLC (a)(d)(e) |
1,492,861 |
14,073,041 |
|
Unibet Group PLC unit |
162,461 |
9,670,064 |
|
TOTAL MALTA |
23,743,105 |
||
Norway - 1.6% |
|||
Zalaris ASA (A Shares) (e) |
1,823,800 |
7,058,287 |
|
Sweden - 47.4% |
|||
AddTech AB (B Shares) |
647,000 |
9,187,897 |
|
CDON Group AB (a)(d) |
1,426,436 |
2,758,330 |
|
East Capital Explorer AB (a) |
1,005,000 |
5,562,955 |
|
Elekta AB (B Shares) (d) |
1,189,800 |
12,769,118 |
|
Getinge AB (B Shares) |
668,300 |
16,501,135 |
|
H&M Hennes & Mauritz AB (B Shares) |
492,576 |
20,300,261 |
|
Hemfosa Fastigheter AB (a) |
910,142 |
19,579,570 |
|
Kungsleden AB |
687,600 |
5,276,957 |
|
Lifco AB (a) |
156,400 |
2,565,019 |
|
Meda AB (A Shares) |
1,119,800 |
15,793,752 |
|
Nordea Bank AB |
1,231,995 |
15,678,745 |
|
|
|||
Shares |
Value |
||
SKF AB (B Shares) |
714,600 |
$ 16,884,327 |
|
Svenska Cellulosa AB (SCA) (B Shares) |
590,300 |
14,282,717 |
|
Svenska Handelsbanken AB (A Shares) |
458,100 |
21,747,321 |
|
Systemair AB (d) |
559,000 |
6,823,500 |
|
Thule Group AB (a) |
685,000 |
7,575,053 |
|
Vitrolife AB |
597,900 |
12,754,025 |
|
TOTAL SWEDEN |
206,040,682 |
||
United Kingdom - 3.0% |
|||
G4S PLC (United Kingdom) |
3,047,700 |
13,091,951 |
|
TOTAL COMMON STOCKS (Cost $418,589,869) |
|
||
Money Market Funds - 3.5% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
2,668,635 |
2,668,635 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
12,753,883 |
12,753,883 |
|
TOTAL MONEY MARKET FUNDS (Cost $15,422,518) |
|
||
TOTAL INVESTMENT PORTFOLIO - 102.3% (Cost $434,012,387) |
444,079,966 |
||
NET OTHER ASSETS (LIABILITIES) - (2.1)% |
(9,174,882) |
||
NET ASSETS - 100% |
$ 434,905,084 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 3,568 |
Fidelity Securities Lending Cash Central Fund |
44,638 |
Total |
$ 48,206 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Kambi Group PLC |
$ 14,369,373 |
$ - |
$ 113,511 |
$ - |
$ 14,073,041 |
Zalaris ASA (A Shares) |
8,355,202 |
- |
- |
- |
7,058,287 |
Total |
$ 22,724,575 |
$ - |
$ 113,511 |
$ - |
$ 21,131,328 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 54,376,749 |
$ 54,376,749 |
$ - |
$ - |
Consumer Staples |
52,094,783 |
52,094,783 |
- |
- |
Financials |
105,705,911 |
105,705,911 |
- |
- |
Health Care |
101,527,949 |
70,609,027 |
30,918,922 |
- |
Industrials |
96,862,792 |
96,862,792 |
- |
- |
Information Technology |
6,551,182 |
6,551,182 |
- |
- |
Materials |
11,538,082 |
11,538,082 |
- |
- |
Money Market Funds |
15,422,518 |
15,422,518 |
- |
- |
Total Investments in Securities: |
$ 444,079,966 |
$ 413,161,044 |
$ 30,918,922 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $436,823,161. Net unrealized appreciation aggregated $7,256,805, of which $39,370,085 related to appreciated investment securities and $32,113,280 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Overseas Fund
January 31, 2015
1.813070.110
OVE-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 95.3% |
|||
Shares |
Value |
||
Australia - 2.7% |
|||
Ansell Ltd. |
516,634 |
$ 9,068,335 |
|
Asaleo Care Ltd. (a) |
6,440,308 |
8,228,569 |
|
Austbrokers Holdings Ltd. |
308,484 |
2,122,850 |
|
Australia & New Zealand Banking Group Ltd. |
1,343,842 |
34,304,915 |
|
Flight Centre Travel Group Ltd. (d) |
576,492 |
16,828,519 |
|
Life Healthcare Group Ltd. |
1,346,638 |
2,645,717 |
|
Spotless Group Holdings Ltd. (d) |
12,024,916 |
17,357,864 |
|
TOTAL AUSTRALIA |
90,556,769 |
||
Austria - 0.4% |
|||
Andritz AG |
285,300 |
15,474,672 |
|
Bailiwick of Jersey - 3.7% |
|||
Delphi Automotive PLC |
228,100 |
15,677,313 |
|
Experian PLC |
1,507,700 |
26,637,631 |
|
Regus PLC |
5,032,870 |
15,312,628 |
|
Shire PLC |
362,200 |
26,436,205 |
|
WPP PLC |
1,795,833 |
39,491,388 |
|
TOTAL BAILIWICK OF JERSEY |
123,555,165 |
||
Belgium - 2.5% |
|||
Anheuser-Busch InBev SA NV |
412,412 |
50,300,311 |
|
KBC Groupe SA (a) |
665,374 |
35,875,602 |
|
TOTAL BELGIUM |
86,175,913 |
||
Canada - 0.9% |
|||
CGI Group, Inc. Class A (sub. vtg.) (a) |
260,300 |
10,314,083 |
|
Constellation Software, Inc. |
70,400 |
19,506,678 |
|
TOTAL CANADA |
29,820,761 |
||
Cayman Islands - 0.8% |
|||
Lifestyle International Holdings Ltd. |
5,203,500 |
10,186,333 |
|
Shenzhou International Group Holdings Ltd. |
4,292,000 |
15,595,093 |
|
TOTAL CAYMAN ISLANDS |
25,781,426 |
||
Denmark - 0.4% |
|||
Vestas Wind Systems A/S (a) |
318,500 |
12,503,284 |
|
France - 6.1% |
|||
ALTEN |
270,300 |
11,347,059 |
|
AXA SA |
1,116,000 |
26,299,823 |
|
BIC SA |
127,000 |
18,082,260 |
|
Christian Dior SA |
118,597 |
20,571,243 |
|
Kering SA (d) |
89,600 |
18,163,891 |
|
Sanofi SA |
557,454 |
51,363,761 |
|
Sodexo SA (d) |
200,900 |
20,007,008 |
|
Total SA |
768,400 |
39,442,439 |
|
TOTAL FRANCE |
205,277,484 |
||
Germany - 6.7% |
|||
adidas AG |
321,700 |
22,243,850 |
|
Bayer AG |
440,197 |
63,694,965 |
|
CompuGroup Medical AG |
462,500 |
11,973,339 |
|
|
|||
Shares |
Value |
||
Continental AG |
99,100 |
$ 22,474,988 |
|
Deutsche Post AG |
986,395 |
32,067,800 |
|
Fresenius SE & Co. KGaA |
656,100 |
37,633,109 |
|
GEA Group AG |
436,410 |
19,846,552 |
|
Gerry Weber International AG (Bearer) |
417,100 |
16,145,169 |
|
TOTAL GERMANY |
226,079,772 |
||
Ireland - 2.8% |
|||
Accenture PLC Class A |
182,900 |
15,369,087 |
|
Actavis PLC (a) |
79,600 |
21,216,584 |
|
DCC PLC (United Kingdom) |
307,600 |
16,345,475 |
|
Kerry Group PLC Class A |
390,664 |
28,349,940 |
|
United Drug PLC (United Kingdom) |
2,088,200 |
12,294,770 |
|
TOTAL IRELAND |
93,575,856 |
||
Israel - 1.2% |
|||
Frutarom Industries Ltd. |
322,272 |
10,090,853 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
526,100 |
29,914,046 |
|
TOTAL ISRAEL |
40,004,899 |
||
Italy - 1.5% |
|||
Mediaset SpA (a) |
3,123,400 |
14,237,769 |
|
Pirelli & C. SpA |
1,333,000 |
18,949,128 |
|
World Duty Free SpA (a)(d) |
1,542,136 |
17,025,336 |
|
TOTAL ITALY |
50,212,233 |
||
Japan - 17.7% |
|||
ACOM Co. Ltd. (a)(d) |
2,790,000 |
7,590,008 |
|
Arc Land Sakamoto Co. Ltd. |
472,300 |
8,809,786 |
|
Astellas Pharma, Inc. |
2,305,400 |
35,607,753 |
|
Broadleaf Co. Ltd. |
550,400 |
8,495,095 |
|
Daikin Industries Ltd. |
296,000 |
20,597,454 |
|
Dentsu, Inc. |
471,900 |
19,381,180 |
|
Don Quijote Holdings Co. Ltd. |
259,200 |
18,871,720 |
|
Fukuda Denshi Co. Ltd. |
131,500 |
6,528,925 |
|
GMO Internet, Inc. |
1,718,900 |
14,192,396 |
|
Honda Motor Co. Ltd. sponsored ADR |
423,600 |
12,801,192 |
|
Hoya Corp. |
850,400 |
32,955,208 |
|
Japan Tobacco, Inc. |
950,400 |
25,885,717 |
|
KDDI Corp. |
427,200 |
30,155,604 |
|
Keyence Corp. |
49,190 |
22,993,213 |
|
Leopalace21 Corp. (a) |
1,237,900 |
8,009,594 |
|
Makita Corp. |
265,800 |
11,789,971 |
|
Meitec Corp. |
382,300 |
11,156,144 |
|
Miraca Holdings, Inc. |
377,700 |
16,915,968 |
|
Misumi Group, Inc. |
462,900 |
17,290,896 |
|
Nakanishi, Inc. |
359,900 |
13,175,962 |
|
NGK Spark Plug Co. Ltd. |
949,300 |
28,141,897 |
|
Nitori Holdings Co. Ltd. |
216,600 |
12,246,460 |
|
OBIC Co. Ltd. |
477,300 |
16,010,915 |
|
Olympus Corp. (a) |
649,000 |
22,445,049 |
|
OMRON Corp. |
576,300 |
23,039,703 |
|
ORIX Corp. |
2,160,500 |
24,825,915 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Seven Bank Ltd. |
4,318,200 |
$ 19,327,242 |
|
Shinsei Bank Ltd. |
8,485,000 |
15,379,264 |
|
Ship Healthcare Holdings, Inc. |
554,600 |
13,763,674 |
|
SoftBank Corp. |
406,100 |
23,899,675 |
|
Software Service, Inc. |
108,400 |
3,676,201 |
|
Sundrug Co. Ltd. |
340,700 |
14,461,661 |
|
Tsuruha Holdings, Inc. |
365,000 |
24,526,531 |
|
VT Holdings Co. Ltd. |
2,992,200 |
12,041,980 |
|
TOTAL JAPAN |
596,989,953 |
||
Luxembourg - 1.5% |
|||
Altice SA |
280,329 |
23,472,788 |
|
Eurofins Scientific SA |
52,159 |
13,467,715 |
|
Grand City Properties SA (a)(d) |
818,700 |
13,414,400 |
|
TOTAL LUXEMBOURG |
50,354,903 |
||
Netherlands - 2.0% |
|||
Arcadis NV |
439,800 |
13,395,934 |
|
IMCD Group BV |
788,100 |
25,024,539 |
|
ING Groep NV (Certificaten Van Aandelen) (a) |
2,253,800 |
28,020,171 |
|
TOTAL NETHERLANDS |
66,440,644 |
||
New Zealand - 0.4% |
|||
EBOS Group Ltd. |
1,913,519 |
13,156,108 |
|
Norway - 0.5% |
|||
Telenor ASA |
821,400 |
17,680,635 |
|
South Africa - 0.2% |
|||
EOH Holdings Ltd. |
715,781 |
7,406,508 |
|
Spain - 1.3% |
|||
Amadeus IT Holding SA Class A |
868,800 |
34,940,269 |
|
Criteria CaixaCorp SA |
2,480,141 |
10,829,089 |
|
TOTAL SPAIN |
45,769,358 |
||
Sweden - 4.6% |
|||
Alfa Laval AB |
762,900 |
14,180,709 |
|
HEXPOL AB (B Shares) |
199,500 |
20,048,373 |
|
Lifco AB (a) |
178,886 |
2,933,798 |
|
Meda AB (A Shares) (d) |
931,330 |
13,135,555 |
|
Nordea Bank AB |
3,192,200 |
40,624,914 |
|
Svenska Cellulosa AB (SCA) (B Shares) |
916,700 |
22,180,191 |
|
Svenska Handelsbanken AB (A Shares) |
451,800 |
21,448,242 |
|
Swedbank AB (A Shares) |
801,900 |
19,441,292 |
|
TOTAL SWEDEN |
153,993,074 |
||
Switzerland - 7.7% |
|||
Aryzta AG |
267,951 |
20,179,494 |
|
Clariant AG (Reg.) |
1,052,180 |
16,959,556 |
|
Nestle SA |
1,123,314 |
85,788,584 |
|
Roche Holding AG (participation certificate) |
274,305 |
73,929,980 |
|
|
|||
Shares |
Value |
||
Syngenta AG (Switzerland) |
83,269 |
$ 27,123,532 |
|
UBS Group AG |
2,115,146 |
35,452,077 |
|
TOTAL SWITZERLAND |
259,433,223 |
||
Taiwan - 0.4% |
|||
King's Town Bank |
1,061,000 |
1,111,692 |
|
St.Shine Optical Co. Ltd. |
853,000 |
13,317,160 |
|
TOTAL TAIWAN |
14,428,852 |
||
United Kingdom - 25.2% |
|||
Aberdeen Asset Management PLC |
2,839,100 |
18,717,157 |
|
Barclays PLC |
7,214,008 |
25,335,803 |
|
BG Group PLC |
1,851,300 |
24,692,392 |
|
Brit PLC |
3,726,900 |
15,358,418 |
|
British American Tobacco PLC (United Kingdom) |
733,500 |
41,381,152 |
|
BT Group PLC |
5,667,700 |
35,557,150 |
|
Capita Group PLC |
1,152,800 |
19,412,364 |
|
Cineworld Group PLC |
2,778,900 |
17,788,712 |
|
Close Brothers Group PLC |
770,600 |
17,653,908 |
|
Dechra Pharmaceuticals PLC |
455,395 |
5,933,173 |
|
Diageo PLC |
1,433,885 |
42,443,883 |
|
Diploma PLC |
1,681,725 |
19,162,253 |
|
Domino Printing Sciences PLC |
1,448,514 |
14,890,456 |
|
Elementis PLC |
3,468,800 |
14,441,089 |
|
Essentra PLC |
1,429,700 |
17,873,337 |
|
Exova Group Ltd. PLC (a) |
5,083,535 |
11,485,231 |
|
Hilton Food Group PLC |
1,120,800 |
6,634,425 |
|
Howden Joinery Group PLC |
3,310,400 |
21,186,043 |
|
IMI PLC |
912,099 |
17,529,733 |
|
Indivior PLC (a) |
442,700 |
1,160,223 |
|
Intertek Group PLC |
508,500 |
17,562,149 |
|
ITV PLC |
6,516,400 |
21,593,004 |
|
Johnson Matthey PLC |
406,400 |
19,961,223 |
|
Lloyds Banking Group PLC (a) |
34,335,100 |
38,036,926 |
|
London Stock Exchange Group PLC |
943,745 |
33,617,735 |
|
Melrose PLC |
4,222,600 |
16,854,212 |
|
Next PLC |
244,900 |
26,687,627 |
|
Provident Financial PLC |
476,700 |
18,933,806 |
|
Prudential PLC |
1,905,048 |
46,312,465 |
|
Reckitt Benckiser Group PLC |
442,700 |
37,467,851 |
|
Rio Tinto PLC |
797,700 |
35,053,312 |
|
Rolls-Royce Group PLC |
1,187,666 |
15,947,710 |
|
Schroders PLC |
509,800 |
22,252,605 |
|
Senior Engineering Group PLC |
3,334,000 |
15,547,093 |
|
Spectris PLC |
466,800 |
14,694,668 |
|
Spirax-Sarco Engineering PLC |
341,807 |
15,702,306 |
|
St. James's Place Capital PLC |
2,571,505 |
33,232,063 |
|
The Restaurant Group PLC |
1,547,700 |
16,772,594 |
|
Vodafone Group PLC |
4,465,432 |
15,702,599 |
|
TOTAL UNITED KINGDOM |
850,568,850 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - 4.1% |
|||
Cognizant Technology Solutions Corp. Class A (a) |
315,100 |
$ 17,056,363 |
|
Fidelity National Information Services, Inc. |
358,300 |
22,368,669 |
|
FMC Corp. |
312,100 |
17,945,750 |
|
Google, Inc. Class C (a) |
34,100 |
18,227,132 |
|
McGraw Hill Financial, Inc. |
280,100 |
25,052,144 |
|
MSCI, Inc. Class A |
309,700 |
16,668,054 |
|
Total System Services, Inc. |
588,600 |
20,818,782 |
|
TOTAL UNITED STATES OF AMERICA |
138,136,894 |
||
TOTAL COMMON STOCKS (Cost $2,854,976,250) |
|
||
Nonconvertible Preferred Stocks - 2.4% |
|||
|
|
|
|
Germany - 2.4% |
|||
Henkel AG & Co. KGaA |
321,800 |
36,945,214 |
|
Sartorius AG (non-vtg.) |
110,094 |
14,120,106 |
|
Volkswagen AG |
137,568 |
30,826,100 |
|
TOTAL GERMANY |
81,891,420 |
||
United Kingdom - 0.0% |
|||
Rolls-Royce Group PLC (C Shares) |
277,614,784 |
418,143 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $65,532,512) |
|
||
Money Market Funds - 4.2% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
74,266,053 |
$ 74,266,053 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
65,427,901 |
65,427,901 |
|
TOTAL MONEY MARKET FUNDS (Cost $139,693,954) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.9% (Cost $3,060,202,716) |
3,435,380,753 |
||
NET OTHER ASSETS (LIABILITIES) - (1.9)% |
(63,825,011) |
||
NET ASSETS - 100% |
$ 3,371,555,742 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 32,951 |
Fidelity Securities Lending Cash Central Fund |
178,677 |
Total |
$ 211,628 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 564,103,828 |
$ 356,623,755 |
$ 207,480,073 |
$ - |
Consumer Staples |
418,887,806 |
114,289,264 |
304,598,542 |
- |
Energy |
64,134,831 |
- |
64,134,831 |
- |
Financials |
655,248,174 |
404,871,329 |
250,376,845 |
- |
Health Care |
529,508,181 |
240,633,491 |
288,874,690 |
- |
Industrials |
411,660,468 |
333,468,139 |
78,192,329 |
- |
Information Technology |
324,626,284 |
199,533,246 |
125,093,038 |
- |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Materials |
$ 204,521,564 |
$ 142,344,720 |
$ 62,176,844 |
$ - |
Telecommunication Services |
122,995,663 |
17,680,635 |
105,315,028 |
- |
Money Market Funds |
139,693,954 |
139,693,954 |
- |
- |
Total Investments in Securities: |
$ 3,435,380,753 |
$ 1,949,138,533 |
$ 1,486,242,220 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 43,457,640 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $3,061,650,042. Net unrealized appreciation aggregated $373,730,711, of which $517,340,256 related to appreciated investment securities and $143,609,545 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Pacific Basin Fund
January 31, 2015
1.813019.110
PAF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 99.2% |
|||
Shares |
Value |
||
Australia - 15.0% |
|||
Amcor Ltd. |
940,139 |
$ 9,291,607 |
|
Ansell Ltd. |
335,997 |
5,897,663 |
|
ARB Corp. Ltd. (d) |
289,695 |
2,596,201 |
|
Australia & New Zealand Banking |
409,926 |
10,464,382 |
|
Commonwealth Bank of Australia |
238,278 |
16,475,753 |
|
CSL Ltd. |
141,339 |
9,618,621 |
|
DuluxGroup Ltd. |
1,359,961 |
6,299,552 |
|
Invocare Ltd. |
319,066 |
3,220,008 |
|
Magellan Financial Group Ltd. (d) |
251,802 |
3,709,391 |
|
Slater & Gordon Ltd. |
771,786 |
3,960,910 |
|
Sydney Airport unit |
1,171,376 |
4,526,455 |
|
Transurban Group unit |
1,075,625 |
7,692,448 |
|
Woodside Petroleum Ltd. (d) |
239,648 |
6,364,811 |
|
Woolworths Ltd. |
327,887 |
8,068,887 |
|
TOTAL AUSTRALIA |
98,186,689 |
||
Bermuda - 3.5% |
|||
Brilliance China Automotive Holdings Ltd. |
1,820,000 |
3,338,284 |
|
Cheung Kong Infrastructure Holdings Ltd. |
1,123,000 |
9,216,763 |
|
Hongkong Land Holdings Ltd. |
686,800 |
5,085,799 |
|
PAX Global Technology Ltd. (a)(d) |
5,262,000 |
4,926,969 |
|
TOTAL BERMUDA |
22,567,815 |
||
Cayman Islands - 5.6% |
|||
21Vianet Group, Inc. ADR (a)(d) |
150,900 |
2,497,395 |
|
Alibaba Group Holding Ltd. sponsored ADR |
55,600 |
4,952,848 |
|
Best Pacific International Holdings Ltd. |
5,884,000 |
2,919,145 |
|
China High Precision Automation Group Ltd. (a) |
1,875,000 |
72,559 |
|
China Metal Recycling (Holdings) Ltd. (a) |
2,572,200 |
3 |
|
ENN Energy Holdings Ltd. |
746,000 |
4,409,801 |
|
Greatview Aseptic Pack Co. Ltd. |
6,257,000 |
2,852,236 |
|
International Housewares Retail Co. Ltd. |
10,816,000 |
2,726,313 |
|
Sands China Ltd. |
911,600 |
4,437,986 |
|
Sino Biopharmaceutical Ltd. |
5,680,000 |
5,674,268 |
|
WuXi PharmaTech Cayman, Inc. sponsored ADR (a) |
156,500 |
6,275,650 |
|
TOTAL CAYMAN ISLANDS |
36,818,204 |
||
China - 3.9% |
|||
Industrial & Commercial Bank of China Ltd. (H Shares) |
14,414,000 |
10,279,019 |
|
Jiangsu Hengrui Medicine Co. Ltd. |
629,001 |
4,068,381 |
|
Kweichow Moutai Co. Ltd. |
68,800 |
1,936,745 |
|
Tsingtao Brewery Co. Ltd. (H Shares) |
814,000 |
5,447,618 |
|
Weifu High-Technology Co. Ltd. (B Shares) |
956,632 |
3,495,585 |
|
TOTAL CHINA |
25,227,348 |
||
|
|||
Shares |
Value |
||
Hong Kong - 5.8% |
|||
AIA Group Ltd. |
2,086,400 |
$ 12,111,426 |
|
Galaxy Entertainment Group Ltd. |
703,000 |
3,671,896 |
|
Hong Kong Exchanges and Clearing Ltd. |
274,600 |
6,319,960 |
|
Lenovo Group Ltd. |
4,242,000 |
5,461,976 |
|
Magnificent Estates Ltd. (a) |
90,048,000 |
3,940,974 |
|
Techtronic Industries Co. Ltd. |
2,025,000 |
6,613,180 |
|
TOTAL HONG KONG |
38,119,412 |
||
India - 6.7% |
|||
Asian Paints India Ltd. |
433,057 |
5,980,608 |
|
Bharti Infratel Ltd. |
1,390,640 |
8,091,993 |
|
Britannia Industries Ltd. (a) |
151,703 |
4,612,387 |
|
Housing Development Finance Corp. Ltd. |
229,506 |
4,657,338 |
|
Lupin Ltd. |
197,296 |
5,162,967 |
|
Page Industries Ltd. |
26,162 |
4,965,113 |
|
Petronet LNG Ltd. (a) |
1,555,135 |
4,505,712 |
|
Sun Pharmaceutical Industries Ltd. (a) |
387,055 |
5,717,932 |
|
TOTAL INDIA |
43,694,050 |
||
Indonesia - 2.4% |
|||
PT Bank Central Asia Tbk |
9,814,800 |
10,305,143 |
|
PT Gudang Garam Tbk |
1,247,400 |
5,671,400 |
|
TOTAL INDONESIA |
15,976,543 |
||
Israel - 0.6% |
|||
Sarine Technologies Ltd. |
2,164,100 |
4,164,865 |
|
Italy - 0.3% |
|||
Prada SpA |
362,500 |
2,128,344 |
|
Japan - 33.0% |
|||
ACOM Co. Ltd. (a)(d) |
813,800 |
2,213,888 |
|
Arcland Service Co. Ltd. |
9,500 |
321,428 |
|
Asahi Group Holdings |
217,200 |
7,125,638 |
|
Astellas Pharma, Inc. |
760,500 |
11,746,203 |
|
Broadleaf Co. Ltd. |
157,200 |
2,426,288 |
|
Calbee, Inc. |
164,700 |
6,431,526 |
|
Century Tokyo Leasing Corp. |
116,600 |
2,756,773 |
|
Coca-Cola Central Japan Co. Ltd. |
114,000 |
1,898,097 |
|
Create SD Holdings Co. Ltd. |
70,600 |
2,398,755 |
|
Daito Trust Construction Co. Ltd. |
43,900 |
4,886,719 |
|
East Japan Railway Co. |
93,800 |
7,244,936 |
|
Fuji Heavy Industries Ltd. |
205,300 |
7,404,620 |
|
Hamakyorex Co. Ltd. |
81,100 |
2,867,137 |
|
Harmonic Drive Systems, Inc. (d) |
392,400 |
6,218,152 |
|
Hitachi Capital Corp. |
134,900 |
2,652,234 |
|
Hoya Corp. |
209,400 |
8,114,794 |
|
Japan Exchange Group, Inc. |
111,000 |
2,583,021 |
|
Japan Tobacco, Inc. |
290,600 |
7,914,972 |
|
KDDI Corp. |
130,700 |
9,225,977 |
|
Keyence Corp. |
16,500 |
7,712,706 |
|
Miraca Holdings, Inc. |
147,500 |
6,606,050 |
|
Misumi Group, Inc. |
100,300 |
3,746,547 |
|
Mitsubishi Pencil Co. Ltd. |
102,800 |
3,036,607 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Mitsui Fudosan Co. Ltd. |
223,000 |
$ 5,637,800 |
|
Nakanishi, Inc. |
123,200 |
4,510,360 |
|
Nihon M&A Center, Inc. |
154,800 |
5,372,526 |
|
Nihon Parkerizing Co. Ltd. |
120,200 |
2,865,662 |
|
Nippon Seiki Co. Ltd. |
214,000 |
4,839,575 |
|
Nitori Holdings Co. Ltd. |
152,900 |
8,644,892 |
|
Obara Group, Inc. |
78,600 |
3,922,851 |
|
OMRON Corp. |
91,800 |
3,670,041 |
|
ORIX Corp. |
527,400 |
6,060,258 |
|
Pigeon Corp. |
82,700 |
5,163,655 |
|
Rakuten, Inc. |
457,800 |
6,337,910 |
|
Seven Bank Ltd. |
2,058,500 |
9,213,359 |
|
Ship Healthcare Holdings, Inc. |
116,600 |
2,893,697 |
|
SK Kaken Co. Ltd. |
51,000 |
3,920,525 |
|
SoftBank Corp. |
181,300 |
10,669,813 |
|
Sony Financial Holdings, Inc. |
253,700 |
3,525,927 |
|
Sundrug Co. Ltd. |
105,000 |
4,456,925 |
|
Toshiba Plant Systems & Services Corp. |
244,000 |
3,739,984 |
|
VT Holdings Co. Ltd. |
572,200 |
2,302,794 |
|
TOTAL JAPAN |
215,281,622 |
||
Korea (South) - 7.3% |
|||
Hyundai Motor Co. |
31,126 |
4,745,385 |
|
KEPCO Plant Service & Engineering Co. Ltd. |
84,765 |
6,772,596 |
|
LG Household & Health Care Ltd. |
7,934 |
4,930,820 |
|
Medy-Tox, Inc. |
16,881 |
5,626,923 |
|
NAVER Corp. |
9,923 |
6,380,386 |
|
Samsung Electronics Co. Ltd. |
15,547 |
19,145,967 |
|
TOTAL KOREA (SOUTH) |
47,602,077 |
||
Malaysia - 0.8% |
|||
Bursa Malaysia Bhd |
1,145,100 |
2,579,855 |
|
Tune Insurance Holdings Bhd |
5,540,300 |
2,756,010 |
|
TOTAL MALAYSIA |
5,335,865 |
||
New Zealand - 0.6% |
|||
EBOS Group Ltd. |
566,591 |
3,895,510 |
|
Singapore - 3.2% |
|||
Ezion Holdings Ltd. |
2,670,000 |
2,503,290 |
|
Global Logistic Properties Ltd. |
2,154,000 |
4,018,913 |
|
Parkway Life REIT |
2,396,000 |
4,273,746 |
|
United Overseas Bank Ltd. |
572,000 |
9,781,646 |
|
TOTAL SINGAPORE |
20,577,595 |
||
South Africa - 2.1% |
|||
Naspers Ltd. Class N |
93,700 |
13,517,340 |
|
Taiwan - 5.6% |
|||
CTCI Corp. |
1,631,000 |
2,558,730 |
|
eMemory Technology, Inc. |
162,000 |
1,667,791 |
|
King Slide Works Co. Ltd. |
402,000 |
5,751,539 |
|
Lung Yen Life Service Co. Ltd. |
1,305,000 |
3,460,350 |
|
|
|||
Shares |
Value |
||
Merida Industry Co. Ltd. |
855,750 |
$ 5,868,456 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
4,007,000 |
17,494,452 |
|
TOTAL TAIWAN |
36,801,318 |
||
Thailand - 0.7% |
|||
Thai Beverage PCL |
8,383,000 |
4,466,958 |
|
United Kingdom - 1.2% |
|||
Kweichow Moutai Co. Ltd. (A Shares) ELS (UBS Warrant Programme) warrants 7/9/15 (a)(e) |
152,127 |
4,282,430 |
|
Standard Chartered PLC (Hong Kong) |
282,000 |
3,792,859 |
|
TOTAL UNITED KINGDOM |
8,075,289 |
||
United States of America - 0.9% |
|||
GI Dynamics, Inc. CDI (a) |
5,561,289 |
1,226,197 |
|
Yum! Brands, Inc. |
59,800 |
4,322,344 |
|
TOTAL UNITED STATES OF AMERICA |
5,548,541 |
||
TOTAL COMMON STOCKS (Cost $564,516,618) |
|
||
Money Market Funds - 2.5% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
4,973,594 |
4,973,594 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
11,401,775 |
11,401,775 |
|
TOTAL MONEY MARKET FUNDS (Cost $16,375,369) |
|
TOTAL INVESTMENT PORTFOLIO - 101.7% (Cost $580,891,987) |
|
NET OTHER ASSETS (LIABILITIES) - (1.7)% |
(11,421,435) |
||
NET ASSETS - 100% |
$ 652,939,319 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(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 $4,282,430 or 0.7% of net assets. |
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 |
$ 1,131 |
Fidelity Securities Lending Cash Central Fund |
35,986 |
Total |
$ 37,117 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 117,694,005 |
$ 4,322,344 |
$ 113,371,661 |
$ - |
Consumer Staples |
62,609,411 |
- |
62,609,411 |
- |
Energy |
13,373,813 |
- |
13,373,813 |
- |
Financials |
150,423,649 |
- |
150,423,649 |
- |
Health Care |
78,920,422 |
10,171,160 |
68,749,262 |
- |
Industrials |
67,615,373 |
- |
67,615,373 |
- |
Information Technology |
84,524,172 |
7,450,243 |
77,001,370 |
72,559 |
Materials |
31,210,193 |
- |
31,210,190 |
3 |
Telecommunication Services |
27,987,783 |
- |
27,987,783 |
- |
Utilities |
13,626,564 |
- |
13,626,564 |
- |
Money Market Funds |
16,375,369 |
16,375,369 |
- |
- |
Total Investments in Securities: |
$ 664,360,754 |
$ 38,319,116 |
$ 625,969,076 |
$ 72,562 |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 46,467,466 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $589,051,679. Net unrealized appreciation aggregated $75,309,075, of which $119,610,777 related to appreciated investment securities and $44,301,702 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Series
Emerging Markets Fund
January 31, 2015
1.873105.106
ILF-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 89.8% |
|||
Shares |
Value |
||
Argentina - 0.5% |
|||
Grupo Financiero Galicia SA sponsored ADR (d) |
1,180,600 |
$ 19,314,616 |
|
YPF SA Class D sponsored ADR |
1,285,400 |
30,142,630 |
|
TOTAL ARGENTINA |
49,457,246 |
||
Bermuda - 1.9% |
|||
Aquarius Platinum Ltd. (Australia) (a)(e) |
79,838,411 |
17,117,320 |
|
Credicorp Ltd. (United States) |
297,900 |
42,933,348 |
|
GP Investments Ltd. Class A (depositary receipt) (a)(e) |
11,529,837 |
23,203,622 |
|
Shangri-La Asia Ltd. |
24,724,000 |
32,094,751 |
|
Yue Yuen Industrial (Holdings) Ltd. |
20,680,500 |
76,953,546 |
|
TOTAL BERMUDA |
192,302,587 |
||
Brazil - 1.8% |
|||
BR Properties SA |
69,600 |
231,114 |
|
Cielo SA |
2,667,049 |
39,758,487 |
|
Companhia de Saneamento de Minas Gerais |
1,248,400 |
7,909,364 |
|
Cosan SA Industria e Comercio |
1,092,500 |
9,987,524 |
|
Fibria Celulose SA (a) |
4,178,800 |
50,302,894 |
|
Minerva SA (a)(e) |
10,535,400 |
33,884,469 |
|
Smiles SA |
2,285,600 |
35,988,670 |
|
T4F Entretenimento SA (a)(e) |
4,134,345 |
3,713,322 |
|
TOTAL BRAZIL |
181,775,844 |
||
British Virgin Islands - 0.1% |
|||
Mail.Ru Group Ltd. GDR (Reg. S) (a) |
409,260 |
5,893,344 |
|
Canada - 0.7% |
|||
Goldcorp, Inc. |
1,532,600 |
37,015,420 |
|
Pan American Silver Corp. |
2,620,500 |
30,555,030 |
|
Torex Gold Resources, Inc. (a) |
8,724,400 |
9,955,442 |
|
TOTAL CANADA |
77,525,892 |
||
Cayman Islands - 6.7% |
|||
58.com, Inc. ADR (a)(d) |
646,207 |
24,859,583 |
|
Alibaba Group Holding Ltd. sponsored ADR |
182,700 |
16,274,916 |
|
China Lodging Group Ltd. ADR (a) |
1,609,700 |
34,930,490 |
|
China ZhengTong Auto Services Holdings Ltd. |
71,378,800 |
35,730,454 |
|
Cimc Enric Holdings Ltd. |
6,894,000 |
5,308,818 |
|
Eurasia Drilling Co. Ltd. GDR (Reg. S) |
1,055,209 |
20,048,971 |
|
Haitian International Holdings Ltd. |
9,538,000 |
18,492,144 |
|
Hengan International Group Co. Ltd. |
4,844,000 |
57,498,855 |
|
Leju Holdings Ltd. ADR (d) |
1,548,459 |
15,763,313 |
|
Shenzhou International Group Holdings Ltd. |
11,311,000 |
41,098,810 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Cayman Islands - continued |
|||
SINA Corp. (a) |
461,800 |
$ 16,726,396 |
|
Tencent Holdings Ltd. |
13,536,600 |
228,315,829 |
|
Tingyi (Cayman Islands) Holding Corp. |
44,076,000 |
108,564,508 |
|
Uni-President China Holdings Ltd. |
62,621,000 |
53,687,836 |
|
Yingde Gases Group Co. Ltd. |
20,831,500 |
14,036,513 |
|
TOTAL CAYMAN ISLANDS |
691,337,436 |
||
Chile - 1.4% |
|||
Empresa Nacional de Electricidad SA |
18,237,513 |
26,145,290 |
|
Enersis SA |
62,307,610 |
19,228,838 |
|
Inversiones La Construccion SA |
2,127,535 |
25,513,765 |
|
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR (d) |
1,226,800 |
29,271,448 |
|
Vina Concha y Toro SA |
24,267,092 |
44,238,283 |
|
TOTAL CHILE |
144,397,624 |
||
China - 10.7% |
|||
Anhui Conch Cement Co. Ltd. (H Shares) |
8,466,500 |
28,342,245 |
|
Baoshan Iron & Steel Co. Ltd. |
22,697,741 |
21,420,930 |
|
BBMG Corp. (H Shares) |
49,447,000 |
43,272,848 |
|
China Life Insurance Co. Ltd. (H Shares) |
41,814,300 |
162,034,298 |
|
China Pacific Insurance Group Co. Ltd. (H Shares) |
20,070,800 |
96,455,501 |
|
China Shenhua Energy Co. Ltd. (H Shares) |
13,389,000 |
36,753,280 |
|
China Suntien Green Energy Corp. Ltd. (H Shares) |
60,526,000 |
13,541,490 |
|
China Telecom Corp. Ltd. (H Shares) |
119,379,582 |
70,599,425 |
|
Daqin Railway Co. Ltd. (A Shares) |
25,458,363 |
42,956,038 |
|
Industrial & Commercial Bank of China Ltd. (H Shares) |
324,338,400 |
231,294,609 |
|
Kweichow Moutai Co. Ltd. |
2,110,200 |
59,402,886 |
|
Maanshan Iron & Steel Ltd. (H Shares) (a) |
56,056,000 |
15,227,680 |
|
PetroChina Co. Ltd. (H Shares) |
96,132,000 |
104,389,870 |
|
PICC Property & Casualty Co. Ltd. (H Shares) |
50,897,861 |
99,267,267 |
|
Qingdao Haier Co. Ltd. |
15,197,044 |
48,169,402 |
|
Zhuzhou CSR Times Electric Co. Ltd. (H Shares) |
4,756,500 |
26,533,945 |
|
TOTAL CHINA |
1,099,661,714 |
||
Colombia - 0.6% |
|||
BanColombia SA sponsored ADR (d) |
1,257,100 |
58,166,017 |
|
Czech Republic - 0.2% |
|||
Komercni Banka A/S |
106,356 |
21,693,465 |
|
Egypt - 0.2% |
|||
Citadel Capital Corp. (a) |
53,201,700 |
22,570,270 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Greece - 0.4% |
|||
National Bank of Greece SA (a) |
11,625,100 |
$ 11,888,375 |
|
Public Power Corp. of Greece (a) |
1,278,120 |
6,932,523 |
|
Titan Cement Co. SA (Reg.) |
1,171,400 |
26,142,720 |
|
TOTAL GREECE |
44,963,618 |
||
Hong Kong - 5.1% |
|||
China Mobile Ltd. |
3,579,260 |
46,918,686 |
|
China Mobile Ltd. sponsored ADR |
2,305,400 |
150,588,728 |
|
China Power International Development Ltd. |
52,563,000 |
29,843,283 |
|
China Resources Power Holdings Co. Ltd. |
15,277,980 |
42,777,854 |
|
CNOOC Ltd. |
66,002,000 |
87,575,711 |
|
CNOOC Ltd. sponsored ADR (d) |
14,300 |
1,904,045 |
|
Far East Horizon Ltd. |
57,328,800 |
48,844,200 |
|
Lenovo Group Ltd. |
28,132,000 |
36,222,606 |
|
Sinotruk Hong Kong Ltd. |
37,181,000 |
20,400,521 |
|
Techtronic Industries Co. Ltd. |
19,645,000 |
64,156,007 |
|
TOTAL HONG KONG |
529,231,641 |
||
India - 12.8% |
|||
Adani Ports & Special Economic Zone |
9,118,993 |
50,038,769 |
|
Axis Bank Ltd. (a) |
17,298,334 |
164,990,999 |
|
Bharti Airtel Ltd. (a) |
4,994,760 |
30,044,223 |
|
Bharti Infratel Ltd. |
15,441,321 |
89,851,481 |
|
Coal India Ltd. |
11,465,831 |
66,425,447 |
|
Eicher Motors Ltd. |
171,768 |
44,983,688 |
|
GAIL India Ltd. |
4,403,329 |
29,965,836 |
|
Grasim Industries Ltd. |
745,696 |
49,801,712 |
|
HCL Technologies Ltd. |
794,840 |
22,906,484 |
|
Infosys Ltd. |
2,948,021 |
101,189,958 |
|
ITC Ltd. (a) |
15,701,292 |
92,993,138 |
|
JK Cement Ltd. |
2,084,810 |
23,398,030 |
|
Larsen & Toubro Ltd. (a) |
1,768,848 |
48,346,664 |
|
LIC Housing Finance Ltd. |
4,694,595 |
36,140,018 |
|
Lupin Ltd. |
2,229,983 |
58,355,609 |
|
Oil & Natural Gas Corp. Ltd. |
6,392,288 |
36,088,473 |
|
Petronet LNG Ltd. (a) |
8,598,146 |
24,911,515 |
|
Phoenix Mills Ltd. (a) |
6,722,237 |
43,719,031 |
|
Power Grid Corp. of India Ltd. |
14,372,444 |
35,142,752 |
|
SREI Infrastructure Finance Ltd. (e) |
47,462,511 |
35,105,429 |
|
State Bank of India |
17,287,402 |
85,857,223 |
|
Sun TV Ltd. |
1,051,464 |
6,893,466 |
|
Tata Consultancy Services Ltd. |
1,231,629 |
49,259,167 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
Wipro Ltd. |
2,476,959 |
$ 24,148,252 |
|
Yes Bank Ltd. |
4,783,849 |
66,316,945 |
|
TOTAL INDIA |
1,316,874,309 |
||
Indonesia - 1.5% |
|||
PT Bakrieland Development Tbk (a) |
1,428,178,200 |
5,597,714 |
|
PT Bank Mandiri (Persero) Tbk |
18,466,700 |
15,907,340 |
|
PT Bank Rakyat Indonesia Tbk |
97,030,700 |
88,781,240 |
|
PT Kalbe Farma Tbk |
285,866,400 |
41,942,702 |
|
TOTAL INDONESIA |
152,228,996 |
||
Israel - 0.4% |
|||
Bezeq The Israel Telecommunication Corp. Ltd. |
27,788,500 |
44,388,656 |
|
Kenya - 0.3% |
|||
Equity Group Holdings Ltd. (a) |
48,409,300 |
28,522,664 |
|
Korea (South) - 14.2% |
|||
AMOREPACIFIC Group, Inc. |
58,483 |
66,129,498 |
|
Bgf Retail (a) |
193,175 |
14,131,086 |
|
Daewoo International Corp. |
3,722,691 |
92,332,370 |
|
E-Mart Co. Ltd. |
339,308 |
63,866,620 |
|
Fila Korea Ltd. |
347,565 |
34,520,275 |
|
Hyundai HCN |
392,650 |
1,543,170 |
|
Hyundai Industrial Development & Construction Co. |
1,106,543 |
42,940,585 |
|
Hyundai Mobis |
746,873 |
167,496,214 |
|
KB Financial Group, Inc. |
1,029,685 |
34,314,329 |
|
Korea Electric Power Corp. |
982,611 |
38,112,368 |
|
Korea Zinc Co. Ltd. |
90,011 |
34,878,226 |
|
Korean Reinsurance Co. (e) |
5,552,080 |
51,222,334 |
|
LG Chemical Ltd. |
299,750 |
53,477,095 |
|
NAVER Corp. |
77,090 |
49,568,070 |
|
POSCO |
312,235 |
71,951,759 |
|
Samsung C&T Corp. |
836,484 |
42,046,489 |
|
Samsung Electronics Co. Ltd. |
350,563 |
431,714,574 |
|
Shinhan Financial Group Co. Ltd. |
2,183,264 |
88,427,655 |
|
SK Hynix, Inc. (a) |
1,539,627 |
65,974,191 |
|
SK Telecom Co. Ltd. sponsored ADR (d) |
804,200 |
23,120,750 |
|
TOTAL KOREA (SOUTH) |
1,467,767,658 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Luxembourg - 0.5% |
|||
Globant SA (a) |
651,683 |
$ 9,045,360 |
|
Tenaris SA sponsored ADR |
1,620,700 |
45,768,568 |
|
TOTAL LUXEMBOURG |
54,813,928 |
||
Mexico - 4.3% |
|||
America Movil S.A.B. de CV Series L sponsored ADR |
3,981,420 |
85,162,574 |
|
Banregio Grupo Financiero S.A.B. de CV (a) |
4,701,750 |
24,325,075 |
|
Credito Real S.A.B. de CV |
6,011,417 |
12,115,475 |
|
Grupo Aeroportuario del Pacifico SA de CV Series B |
4,990,500 |
32,993,666 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
3,241,400 |
14,866,823 |
|
Grupo Comercial Chedraui S.A.B. de CV (a)(d) |
8,309,588 |
23,028,139 |
|
Grupo Financiero Banorte S.A.B. de CV Series O |
15,500,000 |
78,660,729 |
|
Grupo Televisa SA de CV (CPO) sponsored ADR |
3,046,300 |
99,339,843 |
|
Macquarie Mexican (REIT) (e) |
45,050,900 |
74,175,670 |
|
TOTAL MEXICO |
444,667,994 |
||
Netherlands - 0.1% |
|||
Cnova NV (a) |
1,772,300 |
9,747,650 |
|
Nigeria - 0.9% |
|||
Guaranty Trust Bank PLC GDR (Reg. S) |
5,418,077 |
28,715,808 |
|
Transnational Corp. of Nigeria PLC |
532,701,512 |
8,009,695 |
|
Zenith Bank PLC |
602,831,531 |
51,460,052 |
|
TOTAL NIGERIA |
88,185,555 |
||
Panama - 0.4% |
|||
Copa Holdings SA Class A |
361,500 |
38,864,865 |
|
Philippines - 2.9% |
|||
Alliance Global Group, Inc. |
139,931,500 |
78,902,949 |
|
Metropolitan Bank & Trust Co. |
36,721,662 |
78,923,950 |
|
Nickel Asia Corp. |
27,010,800 |
16,587,721 |
|
PNOC Energy Development Corp. |
117,995,000 |
22,766,971 |
|
Robinsons Land Corp. |
158,602,350 |
99,595,584 |
|
TOTAL PHILIPPINES |
296,777,175 |
||
Poland - 0.0% |
|||
Cyfrowy Polsat SA |
166,099 |
1,068,236 |
|
Puerto Rico - 0.1% |
|||
Popular, Inc. (a) |
468,381 |
14,440,186 |
|
Russia - 1.8% |
|||
Bashneft OJSC rights (a) |
23,529 |
0 |
|
E.ON Russia JSC (a) |
306,669,400 |
11,114,818 |
|
LUKOIL Oil Co. sponsored ADR (United Kingdom) |
2,171,100 |
85,541,340 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Russia - continued |
|||
Mobile TeleSystems OJSC (a) |
4,868,700 |
$ 15,382,832 |
|
NOVATEK OAO GDR (Reg. S) |
831,300 |
58,191,000 |
|
Sberbank of Russia sponsored ADR |
3,174,731 |
11,762,378 |
|
TMK OAO GDR (Reg. S) |
1,277,295 |
3,257,102 |
|
TOTAL RUSSIA |
185,249,470 |
||
Singapore - 0.6% |
|||
Ezion Holdings Ltd. |
19,931,640 |
18,687,147 |
|
First Resources Ltd. |
35,406,000 |
48,631,175 |
|
TOTAL SINGAPORE |
67,318,322 |
||
South Africa - 4.9% |
|||
Alexander Forbes Group Holding (a) |
19,187,101 |
15,558,935 |
|
Aspen Pharmacare Holdings Ltd. |
2,481,800 |
92,929,618 |
|
Barclays Africa Group Ltd. |
4,807,340 |
81,726,840 |
|
Bidvest Group Ltd. |
1,938,045 |
53,487,304 |
|
Blue Label Telecoms Ltd. |
22,145,427 |
16,048,655 |
|
JSE Ltd. |
2,713,392 |
28,330,674 |
|
Life Healthcare Group Holdings Ltd. |
11,372,200 |
42,321,021 |
|
Naspers Ltd. Class N |
1,232,400 |
177,788,371 |
|
TOTAL SOUTH AFRICA |
508,191,418 |
||
Taiwan - 9.2% |
|||
Advantech Co. Ltd. |
3,779,000 |
28,014,188 |
|
Catcher Technology Co. Ltd. |
4,019,000 |
34,891,453 |
|
E.SUN Financial Holdings Co. Ltd. |
68,926,287 |
42,096,219 |
|
Hon Hai Precision Industry Co. Ltd. (Foxconn) |
44,870,280 |
122,237,427 |
|
Inotera Memories, Inc. (a) |
16,075,000 |
22,818,252 |
|
King's Town Bank |
20,425,000 |
21,400,859 |
|
Largan Precision Co. Ltd. |
548,000 |
45,242,292 |
|
MediaTek, Inc. |
4,932,100 |
74,453,918 |
|
Pegatron Corp. |
13,153,000 |
34,723,118 |
|
Radiant Opto-Electronics Corp. |
4,932,000 |
15,490,103 |
|
Taiwan Cement Corp. |
21,448,000 |
28,748,792 |
|
Taiwan Fertilizer Co. Ltd. |
19,321,300 |
33,419,988 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
66,496,284 |
290,320,945 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR (d) |
1,331,101 |
30,229,304 |
|
Unified-President Enterprises Corp. |
60,257,637 |
95,324,864 |
|
Universal Cement Corp. |
18,914,980 |
16,046,301 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Taiwan - continued |
|||
Vanguard International Semiconductor Corp. |
10,961,000 |
$ 18,432,491 |
|
Voltronic Power Technology Corp. |
9,250 |
82,851 |
|
TOTAL TAIWAN |
953,973,365 |
||
Thailand - 1.9% |
|||
Intouch Holdings PCL NVDR |
21,052,700 |
51,756,906 |
|
Kasikornbank PCL (For. Reg.) |
10,828,900 |
73,845,552 |
|
PTT Exploration and Production PCL (For. Reg.) |
8,673,100 |
28,884,404 |
|
Thai Union Frozen Products PCL (For. Reg.) |
68,199,800 |
45,111,156 |
|
TOTAL THAILAND |
199,598,018 |
||
Turkey - 1.9% |
|||
Aselsan A/S |
4,026,000 |
19,584,434 |
|
Aygaz A/S |
5,014,111 |
21,316,582 |
|
Tupras Turkiye Petrol Rafinelleri A/S |
1,721,096 |
37,393,718 |
|
Turkcell Iletisim Hizmet A/S sponsored ADR (a) |
1,302,200 |
18,803,768 |
|
Turkiye Garanti Bankasi A/S |
22,945,100 |
96,479,298 |
|
TOTAL TURKEY |
193,577,800 |
||
United Arab Emirates - 0.5% |
|||
DP World Ltd. |
1,370,645 |
26,933,174 |
|
First Gulf Bank PJSC |
5,945,200 |
27,516,206 |
|
TOTAL UNITED ARAB EMIRATES |
54,449,380 |
||
United States of America - 0.3% |
|||
Cognizant Technology Solutions Corp. Class A (a) |
515,172 |
27,886,260 |
|
TOTAL COMMON STOCKS (Cost $8,367,230,270) |
|
||
Preferred Stocks - 5.5% |
|||
|
|
|
|
Convertible Preferred Stocks - 0.2% |
|||
Cayman Islands - 0.2% |
|||
Meituan Corp. Series D (g) |
3,788,641 |
23,950,652 |
|
Nonconvertible Preferred Stocks - 5.3% |
|||
Brazil - 3.2% |
|||
Ambev SA sponsored ADR |
4,100,100 |
26,978,658 |
|
Banco do Estado Rio Grande do Sul SA |
8,718,671 |
39,641,400 |
|
Braskem SA (PN-A) |
6,163,200 |
28,596,605 |
|
Preferred Stocks - continued |
|||
Shares |
Value |
||
Nonconvertible Preferred Stocks - continued |
|||
Brazil - continued |
|||
Companhia Paranaense de Energia-Copel: |
|
|
|
(PN-B) |
137,100 |
$ 1,594,156 |
|
(PN-B) sponsored |
1,076,157 |
12,483,421 |
|
Itau Unibanco Holding SA sponsored ADR (d) |
8,963,306 |
108,635,269 |
|
Marcopolo SA (PN) |
13,544,400 |
13,527,995 |
|
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) |
8,691,300 |
53,451,495 |
|
TIM Participacoes SA sponsored ADR |
256,200 |
5,654,334 |
|
Vale SA (PN-A) sponsored ADR (d) |
6,090,900 |
38,129,034 |
|
TOTAL BRAZIL |
328,692,367 |
||
Korea (South) - 1.7% |
|||
Hyundai Motor Co. Series 2 |
485,910 |
52,649,161 |
|
Samsung Electronics Co. Ltd. |
75,339 |
72,745,495 |
|
Samsung Fire & Marine Insurance Co. Ltd. |
320,355 |
50,375,972 |
|
TOTAL KOREA (SOUTH) |
175,770,628 |
||
Russia - 0.4% |
|||
Surgutneftegas (a) |
70,719,350 |
42,667,512 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS |
547,130,507 |
||
TOTAL PREFERRED STOCKS (Cost $666,365,805) |
|
Government Obligations - 0.1% |
||||
|
Principal Amount |
|
||
United States of America - 0.1% |
||||
U.S. Treasury Bills, yield at date of purchase 0.02% to 0.03% 3/5/15 to 4/16/15 (f) |
|
$ 7,570,000 |
|
Money Market Funds - 5.6% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
501,690,620 |
$ 501,690,620 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
76,854,120 |
76,854,120 |
|
TOTAL MONEY MARKET FUNDS (Cost $578,544,740) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.0% (Cost $9,619,710,609) |
10,424,764,418 |
||
NET OTHER ASSETS (LIABILITIES) - (1.0)% |
(101,785,530) |
||
NET ASSETS - 100% |
$ 10,322,978,888 |
Futures Contracts |
|||||
|
Expiration |
Underlying |
Unrealized |
||
Purchased |
|||||
Equity Index Contracts |
|||||
3,468 NYSE E-mini MSCI Emerging Markets Index Contracts (United States) |
March 2015 |
$ 164,990,100 |
$ 242,692 |
|
The face value of futures purchased as a percentage of net assets is 1.6% |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $6,762,923. |
(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 $23,950,652 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost |
Meituan Corp. Series D |
1/26/15 |
$ 23,950,652 |
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 |
$ 118,022 |
Fidelity Securities Lending Cash Central Fund |
163,230 |
Total |
$ 281,252 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Aquarius Platinum Ltd. (Australia) |
$ 18,498,158 |
$ 2,835,509 |
$ - |
$ - |
$ 17,117,320 |
GP Investments Ltd. Class A (depositary receipt) |
23,311,870 |
- |
- |
- |
23,203,622 |
Korean Reinsurance Co. |
54,409,675 |
4,353,861 |
- |
963,469 |
51,222,334 |
Macquarie Mexican (REIT) |
48,149,486 |
31,895,688 |
- |
718,645 |
74,175,670 |
Minerva SA |
50,188,557 |
3,327,487 |
- |
- |
33,884,469 |
SREI Infrastructure Finance Ltd. |
36,691,182 |
- |
- |
- |
35,105,429 |
T4F Entretenimento SA |
5,103,986 |
- |
392,135 |
- |
3,713,322 |
Total |
$ 236,352,914 |
$ 42,412,545 |
$ 392,135 |
$ 1,682,114 |
$ 238,422,166 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 923,881,838 |
$ 184,788,211 |
$ 739,093,627 |
$ - |
Consumer Staples |
833,471,171 |
128,129,549 |
705,341,622 |
- |
Energy |
805,611,242 |
388,353,905 |
417,257,337 |
- |
Financials |
2,676,105,214 |
721,606,824 |
1,954,498,390 |
- |
Health Care |
235,548,950 |
- |
235,548,950 |
- |
Industrials |
753,623,399 |
146,770,957 |
582,901,790 |
23,950,652 |
Information Technology |
1,955,105,776 |
186,436,963 |
1,768,668,813 |
- |
Materials |
717,695,753 |
249,968,593 |
467,727,160 |
- |
Telecommunication Services |
632,272,363 |
343,101,642 |
289,170,721 |
- |
Utilities |
305,334,056 |
106,724,992 |
198,609,064 |
- |
Government Obligations |
7,569,916 |
- |
7,569,916 |
- |
Money Market Funds |
578,544,740 |
578,544,740 |
- |
- |
Total Investments in Securities: |
$ 10,424,764,418 |
$ 3,034,426,376 |
$ 7,366,387,390 |
$ 23,950,652 |
Derivative Instruments: |
||||
Assets |
||||
Futures Contracts |
$ 242,692 |
$ 242,692 |
$ - |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 1,791,835,836 |
Level 2 to Level 1 |
$ - |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $9,676,258,026. Net unrealized appreciation aggregated $748,506,392, of which $1,547,406,732 related to appreciated investment securities and $798,900,340 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
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. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Series International
Growth Fund
January 31, 2015
1.907948.105
GSV-S-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 98.0% |
|||
Shares |
Value |
||
Australia - 3.6% |
|||
CSL Ltd. |
4,096,100 |
$ 278,754,145 |
|
Sydney Airport unit |
18,304,467 |
70,732,502 |
|
Transurban Group unit |
12,771,255 |
91,335,004 |
|
TOTAL AUSTRALIA |
440,821,651 |
||
Austria - 1.2% |
|||
Andritz AG |
2,622,198 |
142,228,020 |
|
Bailiwick of Jersey - 1.4% |
|||
Shire PLC |
2,325,900 |
169,762,478 |
|
Belgium - 4.8% |
|||
Anheuser-Busch InBev SA NV |
3,313,281 |
404,108,185 |
|
KBC Groupe SA (a) |
3,529,019 |
190,277,470 |
|
TOTAL BELGIUM |
594,385,655 |
||
Bermuda - 0.5% |
|||
Lazard Ltd. Class A |
1,377,548 |
63,091,698 |
|
Canada - 0.7% |
|||
Canadian Pacific Railway Ltd. |
455,600 |
79,406,415 |
|
Pason Systems, Inc. |
335,000 |
4,721,689 |
|
TOTAL CANADA |
84,128,104 |
||
Cayman Islands - 1.9% |
|||
Sands China Ltd. |
19,760,400 |
96,200,511 |
|
Tencent Holdings Ltd. |
3,745,850 |
63,179,591 |
|
Wynn Macau Ltd. |
28,917,800 |
80,077,657 |
|
TOTAL CAYMAN ISLANDS |
239,457,759 |
||
Denmark - 2.7% |
|||
Jyske Bank A/S (Reg.) (a) |
1,401,400 |
63,612,453 |
|
Novo Nordisk A/S Series B sponsored ADR |
5,959,281 |
265,545,561 |
|
TOTAL DENMARK |
329,158,014 |
||
Finland - 0.2% |
|||
Tikkurila Oyj |
1,550,679 |
28,036,276 |
|
France - 1.1% |
|||
Safran SA |
2,039,186 |
136,390,344 |
|
Germany - 4.9% |
|||
Bayer AG |
1,858,900 |
268,976,325 |
|
Linde AG |
1,747,819 |
335,558,527 |
|
TOTAL GERMANY |
604,534,852 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
India - 0.6% |
|||
Housing Development Finance Corp. Ltd. |
3,671,622 |
$ 74,507,791 |
|
Ireland - 2.2% |
|||
CRH PLC sponsored ADR |
5,213,305 |
125,849,183 |
|
James Hardie Industries PLC CDI |
14,466,311 |
145,050,926 |
|
TOTAL IRELAND |
270,900,109 |
||
Israel - 0.3% |
|||
Azrieli Group |
1,019,186 |
35,152,837 |
|
Italy - 0.6% |
|||
Azimut Holding SpA |
1,569,606 |
36,696,917 |
|
Interpump Group SpA |
3,015,349 |
42,966,613 |
|
TOTAL ITALY |
79,663,530 |
||
Japan - 13.9% |
|||
Aozora Bank Ltd. |
16,620,000 |
60,483,186 |
|
Astellas Pharma, Inc. |
11,360,400 |
175,465,567 |
|
Coca-Cola Central Japan Co. Ltd. |
2,423,300 |
40,347,891 |
|
DENSO Corp. |
6,295,500 |
278,502,358 |
|
East Japan Railway Co. |
928,100 |
71,684,707 |
|
Fanuc Corp. |
662,200 |
111,209,427 |
|
Fast Retailing Co. Ltd. |
380,100 |
141,007,960 |
|
Japan Tobacco, Inc. |
1,965,000 |
53,520,026 |
|
Keyence Corp. |
566,500 |
264,802,913 |
|
Mitsui Fudosan Co. Ltd. |
5,370,000 |
135,762,276 |
|
Seven Bank Ltd. |
20,920,700 |
93,636,107 |
|
SHO-BOND Holdings Co. Ltd. (e) |
1,672,600 |
70,804,585 |
|
USS Co. Ltd. |
10,801,900 |
169,466,146 |
|
Yamato Kogyo Co. Ltd. |
1,937,700 |
49,868,448 |
|
TOTAL JAPAN |
1,716,561,597 |
||
Kenya - 0.1% |
|||
Safaricom Ltd. |
46,000,000 |
7,102,019 |
|
Korea (South) - 0.5% |
|||
Bgf Retail (a) |
128,944 |
9,432,477 |
|
NAVER Corp. |
88,261 |
56,750,908 |
|
TOTAL KOREA (SOUTH) |
66,183,385 |
||
Mexico - 0.4% |
|||
Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a) |
618,112 |
51,649,439 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Netherlands - 1.2% |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
12,323,004 |
$ 153,204,665 |
|
South Africa - 2.2% |
|||
Clicks Group Ltd. |
9,027,484 |
69,770,140 |
|
MTN Group Ltd. |
2,767,900 |
47,798,071 |
|
Naspers Ltd. Class N |
1,053,510 |
151,981,359 |
|
TOTAL SOUTH AFRICA |
269,549,570 |
||
Spain - 2.3% |
|||
Inditex SA |
8,325,360 |
245,869,111 |
|
Prosegur Compania de Seguridad SA (Reg.) |
6,021,389 |
33,544,556 |
|
TOTAL SPAIN |
279,413,667 |
||
Sweden - 5.5% |
|||
ASSA ABLOY AB (B Shares) |
4,136,139 |
226,097,468 |
|
Atlas Copco AB (A Shares) |
4,430,932 |
131,361,052 |
|
H&M Hennes & Mauritz AB (B Shares) |
3,487,901 |
143,744,923 |
|
Intrum Justitia AB |
1,349,000 |
35,949,639 |
|
Svenska Handelsbanken AB (A Shares) |
2,969,871 |
140,988,292 |
|
TOTAL SWEDEN |
678,141,374 |
||
Switzerland - 13.8% |
|||
Nestle SA |
6,445,886 |
492,278,608 |
|
Novartis AG |
3,203,342 |
312,174,641 |
|
Roche Holding AG (participation certificate) |
1,939,267 |
522,666,265 |
|
Schindler Holding AG: |
|
|
|
(participation certificate) |
688,219 |
102,385,880 |
|
(Reg.) |
154,309 |
22,519,501 |
|
UBS Group AG |
14,584,413 |
243,268,009 |
|
TOTAL SWITZERLAND |
1,695,292,904 |
||
Taiwan - 0.4% |
|||
Taiwan Semiconductor Manufacturing Co. Ltd. |
12,299,000 |
53,697,095 |
|
Turkey - 0.6% |
|||
Coca-Cola Icecek Sanayi A/S |
3,368,278 |
68,018,204 |
|
United Kingdom - 14.7% |
|||
Babcock International Group PLC |
5,174,861 |
78,411,419 |
|
BAE Systems PLC |
9,901,700 |
75,688,249 |
|
Berendsen PLC |
3,068,600 |
51,488,248 |
|
GlaxoSmithKline PLC |
3,990,400 |
87,863,500 |
|
Informa PLC |
8,919,592 |
68,785,610 |
|
InterContinental Hotel Group PLC ADR |
5,646,727 |
224,513,866 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
Johnson Matthey PLC |
2,329,427 |
$ 114,414,891 |
|
Prudential PLC |
16,844,857 |
409,505,090 |
|
Reckitt Benckiser Group PLC |
3,327,387 |
281,612,918 |
|
Rolls-Royce Group PLC |
4,284,411 |
57,530,099 |
|
Rotork PLC |
537,297 |
18,653,829 |
|
SABMiller PLC |
4,577,736 |
249,977,718 |
|
Shaftesbury PLC |
3,910,400 |
45,822,990 |
|
Unite Group PLC |
5,472,383 |
40,380,024 |
|
TOTAL UNITED KINGDOM |
1,804,648,451 |
||
United States of America - 15.7% |
|||
Autoliv, Inc. (d) |
1,410,127 |
149,558,070 |
|
Berkshire Hathaway, Inc. Class B (a) |
625,850 |
90,066,074 |
|
BorgWarner, Inc. |
2,568,514 |
138,725,441 |
|
Cummins, Inc. |
589,427 |
82,201,489 |
|
FMC Technologies, Inc. (a) |
1,035,345 |
38,804,731 |
|
Google, Inc. Class A (a) |
402,694 |
216,468,160 |
|
Martin Marietta Materials, Inc. (d) |
605,600 |
65,247,344 |
|
MasterCard, Inc. Class A |
2,333,510 |
191,417,825 |
|
McGraw Hill Financial, Inc. |
538,900 |
48,199,216 |
|
Mead Johnson Nutrition Co. Class A |
530,956 |
52,293,856 |
|
Mohawk Industries, Inc. (a) |
734,515 |
121,224,356 |
|
Moody's Corp. |
525,200 |
47,966,516 |
|
National Oilwell Varco, Inc. |
445,141 |
24,229,025 |
|
Oceaneering International, Inc. |
829,819 |
43,449,323 |
|
Philip Morris International, Inc. |
1,274,492 |
102,265,238 |
|
PriceSmart, Inc. |
590,775 |
48,313,580 |
|
ResMed, Inc. (d) |
873,400 |
54,561,298 |
|
Solera Holdings, Inc. |
940,894 |
48,550,130 |
|
SS&C Technologies Holdings, Inc. |
1,757,844 |
97,261,509 |
|
Union Pacific Corp. |
566,800 |
66,434,628 |
|
Visa, Inc. Class A |
823,324 |
209,873,521 |
|
TOTAL UNITED STATES OF AMERICA |
1,937,111,330 |
||
TOTAL COMMON STOCKS (Cost $9,331,539,156) |
|
||
Money Market Funds - 3.1% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
222,705,338 |
$ 222,705,338 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
155,085,437 |
155,085,437 |
|
TOTAL MONEY MARKET FUNDS (Cost $377,790,775) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $9,709,329,931) |
12,450,583,593 |
||
NET OTHER ASSETS (LIABILITIES) - (1.1)% |
(131,987,353) |
||
NET ASSETS - 100% |
$ 12,318,596,240 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 68,929 |
Fidelity Securities Lending Cash Central Fund |
415,670 |
Total |
$ 484,599 |
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, |
Purchases |
Sales |
Dividend |
Value, |
SHO-BOND Holdings Co. Ltd. |
$ 64,629,702 |
$ - |
$ - |
$ 287,434 |
$ 70,804,585 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 2,063,177,394 |
$ 1,092,421,377 |
$ 970,756,017 |
$ - |
Consumer Staples |
1,870,068,254 |
572,518,035 |
1,297,550,219 |
- |
Energy |
111,204,768 |
111,204,768 |
- |
- |
Financials |
1,972,621,611 |
1,045,522,496 |
927,099,115 |
- |
Health Care |
2,135,769,780 |
589,083,184 |
1,546,686,596 |
- |
Industrials |
1,799,023,674 |
1,383,257,449 |
415,766,225 |
- |
Information Technology |
1,202,001,652 |
763,571,145 |
438,430,507 |
- |
Materials |
864,025,595 |
669,106,221 |
194,919,374 |
- |
Telecommunication Services |
54,900,090 |
7,102,019 |
47,798,071 |
- |
Money Market Funds |
377,790,775 |
377,790,775 |
- |
- |
Total Investments in Securities: |
$ 12,450,583,593 |
$ 6,611,577,469 |
$ 5,839,006,124 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 554,643,564 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $9,716,617,502. Net unrealized appreciation aggregated $2,733,966,091, of which $2,956,524,543 related to appreciated investment securities and $222,558,452 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Series International
Small Cap Fund
January 31, 2015
1.907961.105
SCF-S-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 96.2% |
|||
Shares |
Value |
||
Australia - 1.7% |
|||
DuluxGroup Ltd. |
2,611,782 |
$ 12,098,182 |
|
Imdex Ltd. (a) |
6,780,171 |
1,546,217 |
|
RCG Corp. Ltd. (e) |
15,294,331 |
8,667,162 |
|
Sydney Airport unit |
3,717,686 |
14,365,960 |
|
TFS Corp. Ltd. (d) |
8,450,110 |
9,627,195 |
|
TOTAL AUSTRALIA |
46,304,716 |
||
Austria - 1.5% |
|||
Andritz AG |
516,024 |
27,989,142 |
|
Zumtobel AG |
526,819 |
12,126,372 |
|
TOTAL AUSTRIA |
40,115,514 |
||
Belgium - 1.4% |
|||
Gimv NV |
280,309 |
12,685,804 |
|
KBC Ancora (a) |
852,473 |
25,638,083 |
|
TOTAL BELGIUM |
38,323,887 |
||
Bermuda - 1.0% |
|||
Lazard Ltd. Class A |
250,001 |
11,450,046 |
|
Petra Diamonds Ltd. (a) |
5,001,891 |
11,556,923 |
|
Vostok Nafta Investment Ltd. SDR (a) |
1,313,942 |
5,319,796 |
|
TOTAL BERMUDA |
28,326,765 |
||
British Virgin Islands - 0.2% |
|||
Gem Diamonds Ltd. (a) |
3,037,751 |
6,451,399 |
|
Canada - 1.1% |
|||
Pason Systems, Inc. |
1,319,200 |
18,593,588 |
|
ShawCor Ltd. Class A |
415,800 |
11,420,020 |
|
TOTAL CANADA |
30,013,608 |
||
Cayman Islands - 0.2% |
|||
58.com, Inc. ADR (a) |
147,500 |
5,674,325 |
|
Denmark - 1.7% |
|||
Jyske Bank A/S (Reg.) (a) |
493,219 |
22,388,233 |
|
Spar Nord Bank A/S |
2,602,747 |
23,518,143 |
|
TOTAL DENMARK |
45,906,376 |
||
Finland - 0.5% |
|||
Tikkurila Oyj (d) |
729,165 |
13,183,303 |
|
France - 2.0% |
|||
Coface SA |
579,200 |
7,084,919 |
|
Laurent-Perrier Group SA |
132,224 |
10,443,977 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
France - continued |
|||
Saft Groupe SA |
256,617 |
$ 8,229,553 |
|
Vetoquinol SA |
208,127 |
8,224,367 |
|
Virbac SA |
96,600 |
21,525,958 |
|
TOTAL FRANCE |
55,508,774 |
||
Germany - 4.3% |
|||
alstria office REIT-AG |
789,329 |
10,119,079 |
|
CompuGroup Medical AG |
1,323,715 |
34,268,731 |
|
CTS Eventim AG |
1,603,124 |
46,012,865 |
|
Fielmann AG |
423,190 |
28,840,526 |
|
TOTAL GERMANY |
119,241,201 |
||
Greece - 0.4% |
|||
Titan Cement Co. SA (Reg.) |
472,199 |
10,538,301 |
|
India - 0.7% |
|||
Jyothy Laboratories Ltd. (a) |
3,841,337 |
17,854,518 |
|
Ireland - 1.8% |
|||
FBD Holdings PLC |
1,298,400 |
16,139,112 |
|
James Hardie Industries PLC CDI |
3,276,486 |
32,852,697 |
|
TOTAL IRELAND |
48,991,809 |
||
Israel - 1.7% |
|||
Azrieli Group |
414,179 |
14,285,486 |
|
Ituran Location & Control Ltd. |
502,446 |
10,420,730 |
|
Sarine Technologies Ltd. |
4,765,000 |
9,170,363 |
|
Strauss Group Ltd. (a) |
919,855 |
13,479,212 |
|
TOTAL ISRAEL |
47,355,791 |
||
Italy - 4.4% |
|||
Azimut Holding SpA |
1,833,364 |
42,863,500 |
|
Beni Stabili SpA SIIQ (d) |
43,666,820 |
32,640,730 |
|
Interpump Group SpA |
3,218,666 |
45,863,738 |
|
TOTAL ITALY |
121,367,968 |
||
Japan - 26.7% |
|||
Air Water, Inc. |
550,000 |
9,463,449 |
|
Aozora Bank Ltd. |
8,131,000 |
29,590,179 |
|
Artnature, Inc. |
1,306,400 |
13,659,561 |
|
Asahi Co. Ltd. (d) |
1,095,500 |
10,719,283 |
|
Autobacs Seven Co. Ltd. |
1,035,300 |
15,157,414 |
|
Azbil Corp. |
997,700 |
24,789,760 |
|
Broadleaf Co. Ltd. |
224,500 |
3,465,023 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Coca-Cola Central Japan Co. Ltd. (d) |
1,122,200 |
$ 18,684,605 |
|
Cosmos Pharmaceutical Corp. |
107,000 |
17,241,299 |
|
Daiichikosho Co. Ltd. |
334,000 |
9,672,519 |
|
Daikokutenbussan Co. Ltd. |
567,600 |
21,999,249 |
|
GCA Savvian Group Corp. |
689,200 |
6,937,838 |
|
Glory Ltd. |
387,900 |
10,165,506 |
|
Goldcrest Co. Ltd. |
1,371,210 |
21,369,884 |
|
Harmonic Drive Systems, Inc. (d) |
877,600 |
13,906,856 |
|
Iwatsuka Confectionary Co. Ltd. (d) |
162,300 |
9,371,143 |
|
Kobayashi Pharmaceutical Co. Ltd. |
301,400 |
20,157,499 |
|
Koshidaka Holdings Co. Ltd. |
354,200 |
6,439,306 |
|
Kyoto Kimono Yuzen Co. Ltd. |
356,700 |
3,038,368 |
|
Lasertec Corp. |
763,200 |
9,440,103 |
|
Medikit Co. Ltd. |
219,900 |
6,873,209 |
|
Meiko Network Japan Co. Ltd. |
514,400 |
5,322,466 |
|
Miraial Co. Ltd. (d) |
301,300 |
3,885,713 |
|
Nabtesco Corp. |
753,300 |
19,447,578 |
|
Nagaileben Co. Ltd. |
1,235,900 |
20,435,217 |
|
ND Software Co. Ltd. |
111,268 |
2,346,689 |
|
Nihon M&A Center, Inc. |
308,900 |
10,720,758 |
|
Nihon Parkerizing Co. Ltd. |
1,583,000 |
37,739,958 |
|
Nippon Seiki Co. Ltd. |
573,000 |
12,958,301 |
|
NS Tool Co. Ltd. |
2,000 |
28,876 |
|
OBIC Co. Ltd. |
912,200 |
30,599,532 |
|
OSG Corp. |
2,458,600 |
45,267,225 |
|
Paramount Bed Holdings Co. Ltd. |
283,900 |
7,852,399 |
|
San-Ai Oil Co. Ltd. |
1,575,000 |
10,451,435 |
|
Seven Bank Ltd. |
9,356,500 |
41,877,482 |
|
SHO-BOND Holdings Co. Ltd. (d) |
814,000 |
34,458,288 |
|
Shoei Co. Ltd. |
550,100 |
8,593,428 |
|
SK Kaken Co. Ltd. |
81,000 |
6,226,715 |
|
Software Service, Inc. |
175,900 |
5,965,349 |
|
Techno Medica Co. Ltd. |
283,000 |
5,907,797 |
|
The Nippon Synthetic Chemical Industry Co. Ltd. |
2,520,000 |
15,496,483 |
|
TKC Corp. |
684,400 |
12,118,775 |
|
Tocalo Co. Ltd. |
458,400 |
7,717,055 |
|
Tsutsumi Jewelry Co. Ltd. |
273,600 |
5,842,621 |
|
USS Co. Ltd. |
4,383,000 |
68,762,917 |
|
Workman Co. Ltd. |
116,000 |
5,700,393 |
|
Yamato Kogyo Co. Ltd. |
929,000 |
23,908,648 |
|
TOTAL JAPAN |
731,774,151 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Korea (South) - 2.8% |
|||
Bgf Retail (a) |
300,950 |
$ 22,015,014 |
|
Coway Co. Ltd. |
507,047 |
40,310,855 |
|
Leeno Industrial, Inc. |
389,988 |
14,089,819 |
|
TOTAL KOREA (SOUTH) |
76,415,688 |
||
Mexico - 0.7% |
|||
Consorcio ARA S.A.B. de CV (a) |
41,353,427 |
17,822,018 |
|
Netherlands - 3.6% |
|||
Aalberts Industries NV |
1,369,900 |
39,643,947 |
|
ASM International NV (depositary receipt) |
253,800 |
10,608,840 |
|
Heijmans NV (Certificaten Van Aandelen) (d) |
1,206,671 |
11,566,895 |
|
VastNed Retail NV |
746,955 |
37,092,179 |
|
TOTAL NETHERLANDS |
98,911,861 |
||
Philippines - 0.6% |
|||
Jollibee Food Corp. |
3,395,820 |
17,787,018 |
|
South Africa - 1.9% |
|||
Alexander Forbes Group Holding (a) |
9,630,704 |
7,809,595 |
|
Clicks Group Ltd. |
4,217,421 |
32,594,913 |
|
Nampak Ltd. |
3,262,570 |
11,893,814 |
|
TOTAL SOUTH AFRICA |
52,298,322 |
||
Spain - 1.0% |
|||
Prosegur Compania de Seguridad SA (Reg.) |
4,722,986 |
26,311,283 |
|
Sweden - 2.6% |
|||
Fagerhult AB (e) |
2,397,342 |
39,766,405 |
|
Intrum Justitia AB |
1,209,603 |
32,234,834 |
|
TOTAL SWEDEN |
72,001,239 |
||
Taiwan - 0.3% |
|||
Addcn Technology Co. Ltd. |
878,000 |
8,678,250 |
|
Turkey - 1.2% |
|||
Albaraka Turk Katilim Bankasi A/S |
17,045,671 |
12,054,536 |
|
Coca-Cola Icecek Sanayi A/S |
971,544 |
19,619,128 |
|
TOTAL TURKEY |
31,673,664 |
||
United Kingdom - 21.3% |
|||
Babcock International Group PLC |
721,700 |
10,935,467 |
|
Bellway PLC |
1,306,300 |
35,888,095 |
|
Berendsen PLC |
2,572,009 |
43,155,914 |
|
Britvic PLC |
2,243,612 |
23,807,369 |
|
Dechra Pharmaceuticals PLC |
1,636,163 |
21,316,962 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
Derwent London PLC |
392,190 |
$ 19,227,825 |
|
Elementis PLC |
6,296,482 |
26,213,116 |
|
Great Portland Estates PLC |
2,656,000 |
31,423,670 |
|
H&T Group PLC |
1,288,592 |
3,299,491 |
|
Hilton Food Group PLC |
901,038 |
5,333,574 |
|
Howden Joinery Group PLC |
2,070,300 |
13,249,597 |
|
Informa PLC |
4,200,785 |
32,395,379 |
|
InterContinental Hotel Group PLC ADR |
594,546 |
23,639,149 |
|
ITE Group PLC |
4,420,772 |
8,706,076 |
|
Johnson Matthey PLC |
362,170 |
17,788,770 |
|
Meggitt PLC |
2,837,345 |
23,034,753 |
|
Rotork PLC |
443,800 |
15,407,809 |
|
Shaftesbury PLC |
2,990,255 |
35,040,514 |
|
Spectris PLC |
1,158,816 |
36,479,041 |
|
Spirax-Sarco Engineering PLC |
1,014,400 |
46,600,623 |
|
Taylor Wimpey PLC |
8,548,700 |
17,434,174 |
|
Ted Baker PLC |
559,367 |
19,992,966 |
|
Ultra Electronics Holdings PLC |
936,610 |
24,673,528 |
|
Unite Group PLC |
6,853,599 |
50,571,842 |
|
TOTAL UNITED KINGDOM |
585,615,704 |
||
United States of America - 8.9% |
|||
ANSYS, Inc. (a) |
93,715 |
7,559,989 |
|
Autoliv, Inc. |
211,500 |
22,431,690 |
|
Broadridge Financial Solutions, Inc. |
226,895 |
10,888,691 |
|
Dril-Quip, Inc. (a) |
157,105 |
11,661,904 |
|
Evercore Partners, Inc. Class A |
246,100 |
11,780,807 |
|
Kennedy-Wilson Holdings, Inc. |
1,024,888 |
27,251,772 |
|
Martin Marietta Materials, Inc. (d) |
105,280 |
11,342,867 |
|
Mohawk Industries, Inc. (a) |
177,562 |
29,304,832 |
|
Oceaneering International, Inc. |
178,267 |
9,334,060 |
|
PriceSmart, Inc. |
334,361 |
27,344,043 |
|
ResMed, Inc. (d) |
189,700 |
11,850,559 |
|
Solera Holdings, Inc. |
347,290 |
17,920,164 |
|
SS&C Technologies Holdings, Inc. |
841,788 |
46,576,130 |
|
TOTAL UNITED STATES OF AMERICA |
245,247,508 |
||
TOTAL COMMON STOCKS (Cost $2,052,006,407) |
|
||
Nonconvertible Preferred Stocks - 1.0% |
|||
Shares |
Value |
||
Germany - 1.0% |
|||
Sartorius AG (non-vtg.) |
203,746 |
$ 26,131,443 |
|
Money Market Funds - 3.9% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
71,901,780 |
71,901,780 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
36,294,449 |
36,294,449 |
|
TOTAL MONEY MARKET FUNDS (Cost $108,196,229) |
|
||
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $2,183,129,239) |
2,774,022,633 |
||
NET OTHER ASSETS (LIABILITIES) - (1.1)% |
(29,559,476) |
||
NET ASSETS - 100% |
$ 2,744,463,157 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 17,649 |
Fidelity Securities Lending Cash Central Fund |
89,463 |
Total |
$ 107,112 |
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, |
Purchases |
Sales |
Dividend |
Value, |
Fagerhult AB |
$ 44,153,831 |
$ - |
$ - |
$ - |
$ 39,766,405 |
RCG Corp. Ltd. |
8,273,270 |
- |
- |
- |
8,667,162 |
Total |
$ 52,427,101 |
$ - |
$ - |
$ - |
$ 48,433,567 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 514,689,418 |
$ 295,717,367 |
$ 218,972,051 |
$ - |
Consumer Staples |
273,605,104 |
100,027,303 |
173,577,801 |
- |
Energy |
61,461,007 |
51,009,572 |
10,451,435 |
- |
Financials |
559,460,545 |
451,875,567 |
107,584,978 |
- |
Health Care |
172,698,680 |
123,318,020 |
49,380,660 |
- |
Industrials |
572,788,728 |
407,540,263 |
165,248,465 |
- |
Information Technology |
253,194,885 |
146,127,910 |
107,066,975 |
- |
Materials |
257,928,037 |
97,074,679 |
160,853,358 |
- |
Money Market Funds |
108,196,229 |
108,196,229 |
- |
- |
Total Investments in Securities: |
$ 2,774,022,633 |
$ 1,780,886,910 |
$ 993,135,723 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 119,336,123 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $2,198,789,418. Net unrealized appreciation aggregated $575,233,215, of which $695,436,144 related to appreciated investment securities and $120,202,929 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Series International
Value Fund
January 31, 2015
1.907974.105
VSF-S-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 96.4% |
|||
Shares |
Value |
||
Australia - 5.1% |
|||
Ansell Ltd. |
3,467,096 |
$ 60,856,986 |
|
Australia & New Zealand Banking Group Ltd. |
6,849,056 |
174,839,216 |
|
Telstra Corp. Ltd. |
12,951,594 |
65,327,709 |
|
Transurban Group unit |
11,721,408 |
83,826,910 |
|
Westpac Banking Corp. |
8,350,429 |
223,174,136 |
|
TOTAL AUSTRALIA |
608,024,957 |
||
Bailiwick of Jersey - 1.7% |
|||
Shire PLC |
1,470,100 |
107,299,462 |
|
Wolseley PLC |
1,625,813 |
94,572,639 |
|
TOTAL BAILIWICK OF JERSEY |
201,872,101 |
||
Belgium - 0.7% |
|||
Anheuser-Busch InBev SA NV |
653,630 |
79,720,746 |
|
Bermuda - 0.2% |
|||
Travelport Worldwide Ltd. (d) |
1,880,400 |
29,315,436 |
|
Canada - 1.1% |
|||
Imperial Oil Ltd. |
1,445,600 |
53,742,145 |
|
Potash Corp. of Saskatchewan, Inc. |
2,176,400 |
79,232,127 |
|
TOTAL CANADA |
132,974,272 |
||
Denmark - 0.4% |
|||
Topdanmark A/S (a) |
1,485,800 |
49,821,126 |
|
Finland - 1.2% |
|||
Sampo Oyj (A Shares) |
2,930,413 |
142,123,859 |
|
France - 16.1% |
|||
Atos Origin SA |
1,389,944 |
103,002,356 |
|
AXA SA |
6,708,273 |
158,088,168 |
|
BNP Paribas SA |
2,825,018 |
149,318,446 |
|
Cap Gemini SA |
1,694,105 |
123,608,847 |
|
GDF Suez |
4,562,553 |
101,695,885 |
|
Havas SA |
9,438,642 |
73,059,809 |
|
Orange SA |
9,087,000 |
159,868,369 |
|
Renault SA |
975,692 |
75,203,705 |
|
Sanofi SA |
2,918,368 |
268,898,162 |
|
Schneider Electric SA |
1,600,305 |
121,159,092 |
|
Total SA |
6,416,922 |
329,384,505 |
|
Unibail-Rodamco |
477,000 |
134,806,401 |
|
Vivendi SA |
6,008,489 |
142,819,080 |
|
TOTAL FRANCE |
1,940,912,825 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - 6.9% |
|||
Allianz SE |
1,275,393 |
$ 210,301,445 |
|
BASF AG |
2,296,169 |
206,276,343 |
|
Bayer AG |
889,214 |
128,666,154 |
|
Continental AG |
399,433 |
90,587,810 |
|
Fresenius SE & Co. KGaA |
1,942,500 |
111,419,469 |
|
GEA Group AG |
1,964,827 |
89,354,143 |
|
TOTAL GERMANY |
836,605,364 |
||
Ireland - 1.1% |
|||
Actavis PLC (a) |
513,700 |
136,921,598 |
|
Israel - 1.3% |
|||
Teva Pharmaceutical Industries Ltd. sponsored ADR |
2,643,292 |
150,297,583 |
|
Italy - 1.8% |
|||
Intesa Sanpaolo SpA |
30,611,700 |
89,516,636 |
|
Mediaset SpA (a) |
12,669,900 |
57,754,726 |
|
Telecom Italia SpA (a)(d) |
62,140,000 |
72,204,668 |
|
TOTAL ITALY |
219,476,030 |
||
Japan - 18.6% |
|||
Astellas Pharma, Inc. |
8,074,400 |
124,712,085 |
|
Dentsu, Inc. |
1,871,600 |
76,867,590 |
|
East Japan Railway Co. |
1,234,000 |
95,311,850 |
|
Fujitsu Ltd. |
11,867,000 |
62,710,942 |
|
Hitachi Ltd. |
13,734,000 |
103,720,493 |
|
Hoya Corp. |
3,353,500 |
129,956,832 |
|
Itochu Corp. |
7,451,400 |
75,448,872 |
|
Japan Tobacco, Inc. |
4,652,400 |
126,715,812 |
|
KDDI Corp. |
1,954,300 |
137,952,008 |
|
Mitsubishi Electric Corp. |
5,334,000 |
61,691,621 |
|
Mitsubishi UFJ Financial Group, Inc. |
47,099,500 |
250,299,467 |
|
Nippon Prologis REIT, Inc. |
13,041 |
30,704,397 |
|
Nippon Telegraph & Telephone Corp. |
2,054,600 |
121,605,179 |
|
OMRON Corp. |
1,612,100 |
64,449,600 |
|
ORIX Corp. |
5,750,600 |
66,079,106 |
|
Seven & i Holdings Co., Ltd. |
3,433,600 |
125,649,483 |
|
Seven Bank Ltd. |
16,029,600 |
71,744,700 |
|
SoftBank Corp. |
696,700 |
41,001,979 |
|
Sony Financial Holdings, Inc. |
4,102,400 |
57,015,226 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Sumitomo Mitsui Trust Holdings, Inc. |
26,096,000 |
$ 91,767,268 |
|
Toyota Motor Corp. |
5,099,900 |
328,795,562 |
|
TOTAL JAPAN |
2,244,200,072 |
||
Korea (South) - 0.6% |
|||
Samsung Electronics Co. Ltd. |
53,485 |
65,866,204 |
|
Luxembourg - 0.5% |
|||
RTL Group SA |
645,839 |
61,230,058 |
|
Netherlands - 2.3% |
|||
ING Groep NV (Certificaten Van Aandelen) (a) |
8,692,834 |
108,072,896 |
|
Reed Elsevier NV |
6,917,046 |
169,111,881 |
|
TOTAL NETHERLANDS |
277,184,777 |
||
Singapore - 1.1% |
|||
Singapore Telecommunications Ltd. |
37,845,000 |
113,969,233 |
|
UOL Group Ltd. |
3,723,700 |
19,817,024 |
|
TOTAL SINGAPORE |
133,786,257 |
||
Spain - 2.4% |
|||
Amadeus IT Holding SA Class A (d) |
1,696,074 |
68,210,499 |
|
Iberdrola SA |
23,047,257 |
159,593,958 |
|
Mediaset Espana Comunicacion, S.A. (a) |
5,272,900 |
64,320,680 |
|
TOTAL SPAIN |
292,125,137 |
||
Sweden - 1.4% |
|||
Nordea Bank AB |
13,107,133 |
166,805,384 |
|
Switzerland - 5.4% |
|||
Nestle SA |
3,244,369 |
247,775,629 |
|
Novartis AG |
2,036,911 |
198,502,676 |
|
Roche Holding AG (participation certificate) |
229,269 |
61,791,993 |
|
Syngenta AG (Switzerland) |
184,703 |
60,164,019 |
|
UBS Group AG |
4,887,771 |
81,528,020 |
|
TOTAL SWITZERLAND |
649,762,337 |
||
United Kingdom - 23.5% |
|||
AstraZeneca PLC (United Kingdom) |
3,150,672 |
224,281,668 |
|
BAE Systems PLC |
19,432,650 |
148,542,497 |
|
Barclays PLC |
41,663,758 |
146,324,310 |
|
BG Group PLC |
4,313,200 |
57,528,885 |
|
BP PLC sponsored ADR |
6,743,800 |
261,861,754 |
|
Bunzl PLC |
4,349,311 |
124,271,185 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
Compass Group PLC |
7,754,417 |
$ 134,433,381 |
|
HSBC Holdings PLC sponsored ADR (d) |
5,579,188 |
255,080,475 |
|
Imperial Tobacco Group PLC |
3,212,128 |
151,142,470 |
|
Informa PLC |
9,239,163 |
71,250,060 |
|
ITV PLC |
34,934,385 |
115,759,976 |
|
Johnson Matthey PLC |
1,275,300 |
62,639,143 |
|
Liberty Global PLC Class A (a) |
1,616,400 |
75,518,208 |
|
Lloyds Banking Group PLC (a) |
164,649,800 |
182,401,456 |
|
Meggitt PLC |
1,661,035 |
13,484,977 |
|
National Grid PLC |
11,863,600 |
166,790,290 |
|
Prudential PLC |
3,976,473 |
96,669,620 |
|
Rio Tinto PLC |
4,396,500 |
193,195,292 |
|
Standard Chartered PLC (United Kingdom) |
2,191,899 |
29,306,868 |
|
Tesco PLC |
14,805,400 |
50,066,862 |
|
Vodafone Group PLC sponsored ADR |
7,583,666 |
266,414,187 |
|
TOTAL UNITED KINGDOM |
2,826,963,564 |
||
United States of America - 3.0% |
|||
Altria Group, Inc. |
1,825,300 |
96,923,430 |
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
921,000 |
101,724,450 |
|
Energizer Holdings, Inc. |
102,879 |
13,169,541 |
|
McGraw Hill Financial, Inc. |
783,200 |
70,049,408 |
|
ResMed, Inc. CDI |
13,652,880 |
85,042,966 |
|
TOTAL UNITED STATES OF AMERICA |
366,909,795 |
||
TOTAL COMMON STOCKS (Cost $11,011,423,548) |
|
||
Nonconvertible Preferred Stocks - 1.1% |
|||
|
|
|
|
Germany - 1.1% |
|||
Volkswagen AG |
612,290 |
|
|
Money Market Funds - 2.9% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
218,916,046 |
$ 218,916,046 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
126,909,970 |
126,909,970 |
|
TOTAL MONEY MARKET FUNDS (Cost $345,826,016) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.4% (Cost $11,487,620,758) |
12,095,926,829 |
||
NET OTHER ASSETS (LIABILITIES) - (0.4)% |
(48,612,679) |
||
NET ASSETS - 100% |
$ 12,047,314,150 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
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 |
$ 43,087 |
Fidelity Securities Lending Cash Central Fund |
998,249 |
Total |
$ 1,041,336 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 1,687,126,025 |
$ 985,635,180 |
$ 701,490,845 |
$ - |
Consumer Staples |
866,172,611 |
362,959,891 |
503,212,720 |
- |
Energy |
702,517,289 |
315,603,899 |
386,913,390 |
- |
Financials |
3,055,655,058 |
1,236,928,155 |
1,818,726,903 |
- |
Health Care |
1,658,690,802 |
527,304,804 |
1,131,385,998 |
- |
Industrials |
907,663,786 |
591,384,533 |
316,279,253 |
- |
Information Technology |
721,525,773 |
294,821,702 |
426,704,071 |
- |
Materials |
601,506,924 |
348,147,613 |
253,359,311 |
- |
Telecommunication Services |
1,121,162,412 |
409,233,267 |
711,929,145 |
- |
Utilities |
428,080,133 |
261,289,843 |
166,790,290 |
- |
Money Market Funds |
345,826,016 |
345,826,016 |
- |
- |
Total Investments in Securities: |
$ 12,095,926,829 |
$ 5,679,134,903 |
$ 6,416,791,926 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 217,385,600 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $11,517,328,930. Net unrealized appreciation aggregated $578,597,899, of which $1,190,442,154 related to appreciated investment securities and $611,844,255 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Total Emerging Markets Fund
January 31, 2015
1.931232.103
TEK-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 53.9% |
|||
Shares |
Value |
||
Argentina - 0.3% |
|||
Grupo Financiero Galicia SA sponsored ADR |
5,100 |
$ 83,436 |
|
YPF SA Class D sponsored ADR |
5,200 |
121,940 |
|
TOTAL ARGENTINA |
205,376 |
||
Bermuda - 1.2% |
|||
Aquarius Platinum Ltd. (Australia) (a) |
331,675 |
71,111 |
|
Credicorp Ltd. (United States) |
1,292 |
186,203 |
|
GP Investments Ltd. Class A (depositary receipt) (a) |
76,222 |
153,396 |
|
Shangri-La Asia Ltd. |
100,000 |
129,812 |
|
Yue Yuen Industrial (Holdings) Ltd. |
84,500 |
314,430 |
|
TOTAL BERMUDA |
854,952 |
||
Brazil - 1.1% |
|||
BR Properties SA |
330 |
1,096 |
|
Cielo SA |
11,400 |
169,943 |
|
Companhia de Saneamento de Minas Gerais |
5,300 |
33,579 |
|
Cosan SA Industria e Comercio |
4,677 |
42,757 |
|
Fibria Celulose SA (a) |
17,800 |
214,270 |
|
Minerva SA (a) |
44,600 |
143,445 |
|
Smiles SA |
9,800 |
154,309 |
|
T4F Entretenimento SA (a) |
21,700 |
19,490 |
|
TOTAL BRAZIL |
778,889 |
||
British Virgin Islands - 0.0% |
|||
Mail.Ru Group Ltd. GDR (Reg. S) (a) |
1,702 |
24,509 |
|
Canada - 0.4% |
|||
Goldcorp, Inc. |
6,400 |
154,573 |
|
Pan American Silver Corp. |
10,900 |
127,094 |
|
Torex Gold Resources, Inc. (a) |
36,200 |
41,308 |
|
TOTAL CANADA |
322,975 |
||
Cayman Islands - 4.0% |
|||
58.com, Inc. ADR (a) |
2,650 |
101,946 |
|
Alibaba Group Holding Ltd. sponsored ADR |
800 |
71,264 |
|
China Lodging Group Ltd. ADR (a) |
6,600 |
143,220 |
|
China ZhengTong Auto Services Holdings Ltd. |
311,100 |
155,729 |
|
Cimc Enric Holdings Ltd. |
34,000 |
26,182 |
|
Eurasia Drilling Co. Ltd. GDR (Reg. S) |
4,210 |
79,990 |
|
Haitian International Holdings Ltd. |
41,000 |
79,490 |
|
Hengan International Group Co. Ltd. |
20,500 |
243,337 |
|
Leju Holdings Ltd. ADR (e) |
8,151 |
82,977 |
|
Shenzhou International Group Holdings Ltd. |
46,000 |
167,142 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Cayman Islands - continued |
|||
SINA Corp. (a) |
1,901 |
$ 68,854 |
|
Tencent Holdings Ltd. |
57,900 |
976,574 |
|
Tingyi (Cayman Islands) Holding Corp. |
186,000 |
458,140 |
|
Uni-President China Holdings Ltd. |
264,600 |
226,854 |
|
Yingde Gases Group Co. Ltd. |
89,500 |
60,306 |
|
TOTAL CAYMAN ISLANDS |
2,942,005 |
||
Chile - 0.8% |
|||
Empresa Nacional de Electricidad SA |
77,989 |
111,805 |
|
Enersis SA |
279,532 |
86,267 |
|
Inversiones La Construccion SA |
9,279 |
111,275 |
|
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR |
5,100 |
121,686 |
|
Vina Concha y Toro SA |
102,732 |
187,278 |
|
TOTAL CHILE |
618,311 |
||
China - 6.3% |
|||
Anhui Conch Cement Co. Ltd. (H Shares) |
35,000 |
117,165 |
|
Baoshan Iron & Steel Co. Ltd. |
94,800 |
89,467 |
|
BBMG Corp. (H Shares) |
205,500 |
179,840 |
|
China Life Insurance Co. Ltd. (H Shares) |
179,470 |
695,463 |
|
China Pacific Insurance Group Co. Ltd. (H Shares) |
87,580 |
420,889 |
|
China Shenhua Energy Co. Ltd. (H Shares) |
54,000 |
148,232 |
|
China Suntien Green Energy Corp. Ltd. (H Shares) |
258,850 |
57,913 |
|
China Telecom Corp. Ltd. (H Shares) |
494,257 |
292,297 |
|
Daqin Railway Co. Ltd. (A Shares) |
109,400 |
184,591 |
|
Industrial & Commercial Bank of China Ltd. (H Shares) |
1,415,900 |
1,009,717 |
|
Kweichow Moutai Co. Ltd. |
8,900 |
250,538 |
|
Maanshan Iron & Steel Ltd. (H Shares) (a) |
232,000 |
63,023 |
|
PetroChina Co. Ltd. (H Shares) |
388,000 |
421,330 |
|
PICC Property & Casualty Co. Ltd. (H Shares) |
221,955 |
432,884 |
|
Qingdao Haier Co. Ltd. |
61,900 |
196,202 |
|
Zhuzhou CSR Times Electric Co. Ltd. (H Shares) |
20,500 |
114,358 |
|
TOTAL CHINA |
4,673,909 |
||
Colombia - 0.3% |
|||
BanColombia SA sponsored ADR |
5,486 |
253,837 |
|
Czech Republic - 0.1% |
|||
Komercni Banka A/S |
464 |
94,642 |
|
Egypt - 0.1% |
|||
Citadel Capital Corp. (a) |
236,600 |
100,375 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Greece - 0.3% |
|||
National Bank of Greece SA (a) |
50,260 |
$ 51,398 |
|
Public Power Corp. of Greece (a) |
5,492 |
29,789 |
|
Titan Cement Co. SA (Reg.) |
4,900 |
109,356 |
|
TOTAL GREECE |
190,543 |
||
Hong Kong - 3.0% |
|||
China Mobile Ltd. |
13,535 |
177,423 |
|
China Mobile Ltd. sponsored ADR |
9,759 |
637,458 |
|
China Power International Development Ltd. |
228,600 |
129,790 |
|
China Resources Power Holdings Co. Ltd. |
65,315 |
182,880 |
|
CNOOC Ltd. |
266,000 |
352,946 |
|
CNOOC Ltd. sponsored ADR |
70 |
9,321 |
|
Far East Horizon Ltd. |
244,400 |
208,229 |
|
Lenovo Group Ltd. |
120,000 |
154,511 |
|
Sinotruk Hong Kong Ltd. |
151,500 |
83,125 |
|
Techtronic Industries Co. Ltd. |
80,000 |
261,261 |
|
TOTAL HONG KONG |
2,196,944 |
||
India - 7.7% |
|||
Adani Ports & Special Economic Zone |
39,204 |
215,125 |
|
Axis Bank Ltd. (a) |
73,823 |
704,122 |
|
Bharti Airtel Ltd. (a) |
20,668 |
124,321 |
|
Bharti Infratel Ltd. |
65,710 |
382,360 |
|
Coal India Ltd. |
46,231 |
267,832 |
|
Eicher Motors Ltd. |
700 |
183,320 |
|
GAIL India Ltd. |
17,754 |
120,821 |
|
Grasim Industries Ltd. |
3,098 |
206,902 |
|
HCL Technologies Ltd. |
3,398 |
97,927 |
|
Infosys Ltd. |
12,601 |
432,526 |
|
ITC Ltd. (a) |
66,502 |
393,868 |
|
JK Cement Ltd. |
8,661 |
97,203 |
|
Larsen & Toubro Ltd. (a) |
7,605 |
207,862 |
|
LIC Housing Finance Ltd. |
20,035 |
154,234 |
|
Lupin Ltd. |
9,564 |
250,277 |
|
Oil & Natural Gas Corp. Ltd. |
25,774 |
145,510 |
|
Petronet LNG Ltd. (a) |
35,004 |
101,418 |
|
Phoenix Mills Ltd. (a) |
29,330 |
190,752 |
|
Power Grid Corp. of India Ltd. |
61,403 |
150,139 |
|
SREI Infrastructure Finance Ltd. |
313,747 |
232,062 |
|
State Bank of India |
75,389 |
374,417 |
|
Sun TV Ltd. |
7,414 |
48,607 |
|
Tata Consultancy Services Ltd. |
5,265 |
210,574 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
Wipro Ltd. |
10,588 |
$ 103,224 |
|
Yes Bank Ltd. |
20,416 |
283,020 |
|
TOTAL INDIA |
5,678,423 |
||
Indonesia - 1.0% |
|||
PT Bakrieland Development Tbk (a) |
14,219,500 |
55,733 |
|
PT Bank Mandiri (Persero) Tbk |
130,500 |
112,414 |
|
PT Bank Rakyat Indonesia Tbk |
423,400 |
387,403 |
|
PT Kalbe Farma Tbk |
1,226,100 |
179,895 |
|
TOTAL INDONESIA |
735,445 |
||
Israel - 0.3% |
|||
Bezeq The Israel Telecommunication Corp. Ltd. |
115,050 |
183,778 |
|
Kenya - 0.2% |
|||
Equity Group Holdings Ltd. (a) |
220,600 |
129,977 |
|
Korea (South) - 8.4% |
|||
AMOREPACIFIC Group, Inc. |
248 |
280,425 |
|
Bgf Retail (a) |
913 |
66,788 |
|
Daewoo International Corp. |
15,697 |
389,326 |
|
E-Mart Co. Ltd. |
1,436 |
270,293 |
|
Fila Korea Ltd. |
1,416 |
140,638 |
|
Hyundai HCN |
2,781 |
10,930 |
|
Hyundai Industrial Development & Construction Co. |
4,304 |
167,021 |
|
Hyundai Mobis |
3,090 |
692,974 |
|
KB Financial Group, Inc. |
4,481 |
149,330 |
|
Korea Electric Power Corp. |
4,197 |
162,788 |
|
Korea Zinc Co. Ltd. |
374 |
144,921 |
|
Korean Reinsurance Co. |
24,213 |
223,384 |
|
LG Chemical Ltd. |
1,244 |
221,937 |
|
NAVER Corp. |
330 |
212,187 |
|
POSCO |
1,303 |
300,265 |
|
Samsung C&T Corp. |
3,596 |
180,756 |
|
Samsung Electronics Co. Ltd. |
1,499 |
1,845,995 |
|
Shinhan Financial Group Co. Ltd. |
9,521 |
385,624 |
|
SK Hynix, Inc. (a) |
6,581 |
282,001 |
|
SK Telecom Co. Ltd. sponsored ADR |
3,327 |
95,651 |
|
TOTAL KOREA (SOUTH) |
6,223,234 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Luxembourg - 0.3% |
|||
Globant SA (a) |
2,640 |
$ 36,643 |
|
Tenaris SA sponsored ADR |
6,500 |
183,560 |
|
TOTAL LUXEMBOURG |
220,203 |
||
Mexico - 2.6% |
|||
America Movil S.A.B. de CV Series L sponsored ADR |
16,473 |
352,357 |
|
Banregio Grupo Financiero S.A.B. de CV (a) |
28,600 |
147,966 |
|
Credito Real S.A.B. de CV |
26,227 |
52,858 |
|
Grupo Aeroportuario del Pacifico SA de CV Series B |
21,500 |
142,143 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
13,900 |
63,753 |
|
Grupo Comercial Chedraui S.A.B. de CV (a) |
35,176 |
97,482 |
|
Grupo Financiero Banorte S.A.B. de CV Series O |
67,650 |
343,316 |
|
Grupo Televisa SA de CV (CPO) sponsored ADR |
12,400 |
404,364 |
|
Macquarie Mexican (REIT) |
196,670 |
323,814 |
|
TOTAL MEXICO |
1,928,053 |
||
Netherlands - 0.1% |
|||
Cnova NV (a) |
7,500 |
41,250 |
|
Nigeria - 0.5% |
|||
Guaranty Trust Bank PLC GDR (Reg. S) |
27,480 |
145,644 |
|
Transnational Corp. of Nigeria PLC |
2,320,279 |
34,888 |
|
Zenith Bank PLC |
2,625,785 |
224,147 |
|
TOTAL NIGERIA |
404,679 |
||
Panama - 0.3% |
|||
Copa Holdings SA Class A |
2,000 |
215,020 |
|
Philippines - 1.8% |
|||
Alliance Global Group, Inc. |
622,500 |
351,008 |
|
Metropolitan Bank & Trust Co. |
160,634 |
345,242 |
|
Nickel Asia Corp. |
112,250 |
68,934 |
|
PNOC Energy Development Corp. |
513,900 |
99,156 |
|
Robinsons Land Corp. |
676,900 |
425,065 |
|
TOTAL PHILIPPINES |
1,289,405 |
||
Poland - 0.0% |
|||
Cyfrowy Polsat SA |
900 |
5,788 |
|
Puerto Rico - 0.1% |
|||
Popular, Inc. (a) |
2,190 |
67,518 |
|
Russia - 1.1% |
|||
Bashneft OJSC rights (a) |
150 |
0 |
|
E.ON Russia JSC (a) |
1,392,700 |
50,477 |
|
LUKOIL Oil Co. sponsored ADR (United Kingdom) |
8,800 |
346,720 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Russia - continued |
|||
Mobile TeleSystems OJSC (a) |
22,881 |
$ 72,293 |
|
NOVATEK OAO GDR (Reg. S) |
3,500 |
245,000 |
|
Sberbank of Russia sponsored ADR |
13,864 |
51,366 |
|
TMK OAO GDR (Reg. S) |
7,498 |
19,120 |
|
TOTAL RUSSIA |
784,976 |
||
Singapore - 0.4% |
|||
Ezion Holdings Ltd. |
80,040 |
75,042 |
|
First Resources Ltd. |
149,900 |
205,892 |
|
TOTAL SINGAPORE |
280,934 |
||
South Africa - 3.0% |
|||
Alexander Forbes Group Holding (a) |
85,293 |
69,165 |
|
Aspen Pharmacare Holdings Ltd. |
10,644 |
398,559 |
|
Barclays Africa Group Ltd. |
20,956 |
356,261 |
|
Bidvest Group Ltd. |
8,356 |
230,614 |
|
Blue Label Telecoms Ltd. |
124,954 |
90,553 |
|
JSE Ltd. |
12,090 |
126,232 |
|
Life Healthcare Group Holdings Ltd. |
48,800 |
181,607 |
|
Naspers Ltd. Class N |
5,000 |
721,310 |
|
TOTAL SOUTH AFRICA |
2,174,301 |
||
Taiwan - 5.5% |
|||
Advantech Co. Ltd. |
16,000 |
118,610 |
|
Catcher Technology Co. Ltd. |
17,000 |
147,588 |
|
E.SUN Financial Holdings Co. Ltd. |
301,297 |
184,015 |
|
Hon Hai Precision Industry Co. Ltd. (Foxconn) |
191,624 |
522,030 |
|
Inotera Memories, Inc. (a) |
69,000 |
97,945 |
|
King's Town Bank |
100,000 |
104,778 |
|
Largan Precision Co. Ltd. |
2,000 |
165,118 |
|
MediaTek, Inc. |
21,000 |
317,011 |
|
Pegatron Corp. |
56,000 |
147,837 |
|
Radiant Opto-Electronics Corp. |
21,000 |
65,955 |
|
Taiwan Cement Corp. |
90,000 |
120,636 |
|
Taiwan Fertilizer Co. Ltd. |
83,000 |
143,565 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
285,000 |
1,244,302 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR |
5,442 |
123,588 |
|
Unified-President Enterprises Corp. |
255,243 |
403,783 |
|
Universal Cement Corp. |
78,740 |
66,798 |
|
Vanguard International Semiconductor Corp. |
47,000 |
79,037 |
|
Voltronic Power Technology Corp. |
50 |
448 |
|
TOTAL TAIWAN |
4,053,044 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
Thailand - 1.1% |
|||
Intouch Holdings PCL NVDR |
86,800 |
$ 213,393 |
|
Kasikornbank PCL (For. Reg.) |
47,140 |
321,462 |
|
PTT Exploration and Production PCL (For. Reg.) |
35,000 |
116,562 |
|
Thai Union Frozen Products PCL (For. Reg.) |
288,700 |
190,962 |
|
TOTAL THAILAND |
842,379 |
||
Turkey - 1.1% |
|||
Aselsan A/S |
17,000 |
82,696 |
|
Aygaz A/S |
21,427 |
91,093 |
|
Tupras Turkiye Petrol Rafinelleri A/S |
7,100 |
154,259 |
|
Turkcell Iletisim Hizmet A/S sponsored ADR (a) |
5,390 |
77,832 |
|
Turkiye Garanti Bankasi A/S |
100,054 |
420,706 |
|
TOTAL TURKEY |
826,586 |
||
United Arab Emirates - 0.3% |
|||
DP World Ltd. |
5,893 |
115,797 |
|
First Gulf Bank PJSC |
25,994 |
120,308 |
|
TOTAL UNITED ARAB EMIRATES |
236,105 |
||
United States of America - 0.2% |
|||
Cognizant Technology Solutions Corp. Class A (a) |
2,220 |
120,169 |
|
TOTAL COMMON STOCKS (Cost $33,920,981) |
|
||
Nonconvertible Preferred Stocks - 3.2% |
|||
|
|
|
|
Brazil - 1.9% |
|||
Ambev SA sponsored ADR |
17,400 |
114,492 |
|
Banco do Estado Rio Grande do Sul SA |
38,030 |
172,912 |
|
Braskem SA (PN-A) |
26,800 |
124,349 |
|
Companhia Paranaense de Energia-Copel: |
|
|
|
(PN-B) |
615 |
7,151 |
|
(PN-B) sponsored |
4,595 |
53,302 |
|
Itau Unibanco Holding SA sponsored ADR |
39,078 |
473,625 |
|
Marcopolo SA (PN) |
58,200 |
58,130 |
|
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) |
35,006 |
215,287 |
|
TIM Participacoes SA sponsored ADR |
1,037 |
22,887 |
|
Vale SA (PN-A) sponsored ADR |
25,300 |
158,378 |
|
TOTAL BRAZIL |
1,400,513 |
||
Korea (South) - 1.0% |
|||
Hyundai Motor Co. Series 2 |
1,980 |
214,536 |
|
Nonconvertible Preferred Stocks - continued |
|||
Shares |
Value |
||
Korea (South) - continued |
|||
Samsung Electronics Co. Ltd. |
322 |
$ 310,915 |
|
Samsung Fire & Marine Insurance Co. Ltd. |
1,403 |
220,622 |
|
TOTAL KOREA (SOUTH) |
746,073 |
||
Russia - 0.3% |
|||
Surgutneftegas (a) |
376,450 |
227,126 |
|
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $2,659,920) |
|
Nonconvertible Bonds - 11.8% |
||||
|
Principal Amount |
|
||
Argentina - 0.4% |
||||
YPF SA 8.875% 12/19/18 (f) |
|
$ 300,000 |
307,500 |
|
Azerbaijan - 0.2% |
||||
International Bank of Azerbaijan OJSC 5.625% 6/11/19 (Reg. S) |
|
200,000 |
181,220 |
|
Brazil - 0.4% |
||||
Caixa Economica Federal 3.5% 11/7/22 (f) |
|
300,000 |
264,000 |
|
Cayman Islands - 1.5% |
||||
Alibaba Group Holding Ltd. 3.125% 11/28/21 (f) |
|
300,000 |
303,650 |
|
Petrobras International Finance Co. Ltd.: |
|
|
|
|
5.375% 1/27/21 |
|
530,000 |
476,173 |
|
8.375% 12/10/18 |
|
300,000 |
312,000 |
|
TOTAL CAYMAN ISLANDS |
1,091,823 |
|||
Chile - 0.4% |
||||
Empresa Nacional de Petroleo 5.25% 8/10/20 (Reg. S) |
|
300,000 |
318,874 |
|
Georgia - 0.3% |
||||
JSC Georgian Railway 7.75% 7/11/22 (f) |
|
200,000 |
209,280 |
|
Indonesia - 1.1% |
||||
PT Pertamina Persero: |
|
|
|
|
5.625% 5/20/43 (f) |
|
200,000 |
197,500 |
|
6.5% 5/27/41 (f) |
|
550,000 |
596,750 |
|
TOTAL INDONESIA |
794,250 |
|||
Nonconvertible Bonds - continued |
||||
|
Principal Amount |
Value |
||
Ireland - 0.4% |
||||
Vnesheconombank Via VEB Finance PLC: |
|
|
|
|
5.375% 2/13/17 (f) |
|
$ 250,000 |
$ 222,328 |
|
6.8% 11/22/25 (f) |
|
100,000 |
68,428 |
|
TOTAL IRELAND |
290,756 |
|||
Israel - 0.8% |
||||
B Communications Ltd. 7.375% 2/15/21 (f) |
|
300,000 |
313,500 |
|
Israel Electric Corp. Ltd. 7.25% 1/15/19 (Reg. S) |
|
250,000 |
279,350 |
|
TOTAL ISRAEL |
592,850 |
|||
Kazakhstan - 1.4% |
||||
Kazagro National Management Holding JSC 4.625% 5/24/23 (f) |
|
400,000 |
325,176 |
|
KazMunaiGaz Finance Sub BV 6% 11/7/44 (f) |
|
200,000 |
164,000 |
|
KazMunaiGaz National Co. 5.75% 4/30/43 (f) |
|
300,000 |
241,512 |
|
Zhaikmunai International BV 7.125% 11/13/19 (f) |
|
350,000 |
280,700 |
|
TOTAL KAZAKHSTAN |
1,011,388 |
|||
Luxembourg - 0.6% |
||||
RSHB Capital SA: |
|
|
|
|
5.1% 7/25/18 (f) |
|
400,000 |
320,042 |
|
6.299% 5/15/17 (Reg. S) |
|
100,000 |
88,522 |
|
TOTAL LUXEMBOURG |
408,564 |
|||
Mexico - 1.2% |
||||
Pemex Project Funding Master Trust 6.625% 6/15/35 |
|
350,000 |
401,555 |
|
Petroleos Mexicanos: |
|
|
|
|
5.5% 1/21/21 |
|
400,000 |
432,200 |
|
6.625% (f)(g) |
|
70,000 |
70,784 |
|
TOTAL MEXICO |
904,539 |
|||
Netherlands - 0.6% |
||||
Mozambique Ematum Finance 2020 6.305% 9/11/20 (Reg. S) |
|
200,000 |
185,500 |
|
Petrobras Global Finance BV 7.25% 3/17/44 |
|
300,000 |
258,747 |
|
TOTAL NETHERLANDS |
444,247 |
|||
South Africa - 0.4% |
||||
Eskom Holdings Ltd. 6.75% 8/6/23 (f) |
|
300,000 |
303,810 |
|
Trinidad & Tobago - 0.2% |
||||
Petroleum Co. of Trinidad & Tobago Ltd. 9.75% 8/14/19 (f) |
|
150,000 |
174,750 |
|
Nonconvertible Bonds - continued |
||||
|
Principal Amount |
Value |
||
Tunisia - 0.3% |
||||
Banque Centrale de Tunisie 5.75% 1/30/25 (f) |
|
$ 200,000 |
$ 204,500 |
|
Turkey - 0.4% |
||||
Arcelik A/S 5% 4/3/23 (f) |
|
300,000 |
291,000 |
|
Venezuela - 1.2% |
||||
Petroleos de Venezuela SA: |
|
|
|
|
5.5% 4/12/37 |
|
500,000 |
147,975 |
|
6% 11/15/26 (Reg. S) |
|
700,000 |
213,553 |
|
8.5% 11/2/17 (f) |
|
250,000 |
142,875 |
|
9% 11/17/21 (Reg. S) |
|
150,000 |
52,714 |
|
9.75% 5/17/35 (f) |
|
300,000 |
106,860 |
|
12.75% 2/17/22 (f) |
|
600,000 |
252,840 |
|
TOTAL VENEZUELA |
916,817 |
|||
TOTAL NONCONVERTIBLE BONDS (Cost $9,510,679) |
|
|||
Government Obligations - 27.1% |
||||
|
||||
Argentina - 0.4% |
||||
Argentine Republic 7% 10/3/15 |
|
300,000 |
294,500 |
|
Armenia - 0.8% |
||||
Republic of Armenia 6% 9/30/20 (f) |
|
625,000 |
604,688 |
|
Azerbaijan - 0.7% |
||||
Azerbaijan Republic 4.75% 3/18/24 (f) |
|
200,000 |
194,904 |
|
State Oil Co. of Azerbaijan Republic 4.75% 3/13/23 (Reg. S) |
|
325,000 |
294,155 |
|
TOTAL AZERBAIJAN |
489,059 |
|||
Barbados - 0.4% |
||||
Barbados Government 7% 8/4/22 (f) |
|
350,000 |
330,750 |
|
Belarus - 0.4% |
||||
Belarus Republic 8.75% 8/3/15 (Reg. S) |
|
325,000 |
300,326 |
|
Belize - 0.3% |
||||
Belize Government 5% 2/20/38 (d)(f) |
|
332,500 |
241,225 |
|
Bolivia - 0.3% |
||||
Plurinational State of Bolivia 4.875% 10/29/22 (f) |
|
200,000 |
200,500 |
|
Brazil - 1.2% |
||||
Brazilian Federative Republic 4.25% 1/7/25 |
|
850,000 |
847,875 |
|
Government Obligations - continued |
||||
|
Principal Amount |
Value |
||
Colombia - 0.4% |
||||
Colombian Republic 7.375% 9/18/37 |
|
$ 225,000 |
$ 303,750 |
|
Congo - 0.4% |
||||
Congo Republic 3.5% 6/30/29 (d) |
|
305,900 |
272,251 |
|
Costa Rica - 0.8% |
||||
Costa Rican Republic: |
|
|
|
|
4.375% 4/30/25 (f) |
|
225,000 |
203,119 |
|
7% 4/4/44 (f) |
|
400,000 |
389,000 |
|
TOTAL COSTA RICA |
592,119 |
|||
Croatia - 0.4% |
||||
Croatia Republic 6% 1/26/24 (f) |
|
250,000 |
274,188 |
|
Dominican Republic - 0.5% |
||||
Dominican Republic: |
|
|
|
|
5.875% 4/18/24 (f) |
|
150,000 |
158,250 |
|
7.45% 4/30/44 (f) |
|
200,000 |
218,500 |
|
TOTAL DOMINICAN REPUBLIC |
376,750 |
|||
Ecuador - 0.2% |
||||
Ecuador Republic 7.95% 6/20/24 (f) |
|
200,000 |
177,000 |
|
Egypt - 0.2% |
||||
Arab Republic of Egypt 6.875% 4/30/40 (f) |
|
150,000 |
152,625 |
|
El Salvador - 0.2% |
||||
El Salvador Republic 7.625% 2/1/41 (f) |
|
150,000 |
161,250 |
|
Ethiopia - 0.3% |
||||
Federal Democratic Republic of Ethiopia 6.625% 12/11/24 (f) |
|
200,000 |
196,750 |
|
Gabon - 0.3% |
||||
Gabonese Republic 6.375% 12/12/24 (f) |
|
200,000 |
188,000 |
|
Georgia - 0.3% |
||||
Georgia Republic 6.875% 4/12/21 (f) |
|
200,000 |
217,500 |
|
Ghana - 0.5% |
||||
Ghana Republic: |
|
|
|
|
7.875% 8/7/23 (Reg.S) |
|
200,000 |
175,000 |
|
8.125% 1/18/26 (f) |
|
200,000 |
173,000 |
|
TOTAL GHANA |
348,000 |
|||
Guatemala - 0.3% |
||||
Guatemalan Republic 4.875% 2/13/28 (f) |
|
200,000 |
209,000 |
|
Government Obligations - continued |
||||
|
Principal Amount |
Value |
||
Hungary - 1.0% |
||||
Hungarian Republic: |
|
|
|
|
5.75% 11/22/23 |
|
$ 200,000 |
$ 231,906 |
|
7.625% 3/29/41 |
|
350,000 |
518,000 |
|
TOTAL HUNGARY |
749,906 |
|||
Indonesia - 0.4% |
||||
Indonesian Republic 6.75% 1/15/44 (f) |
|
200,000 |
258,000 |
|
Iraq - 0.3% |
||||
Republic of Iraq 5.8% 1/15/28 (Reg. S) |
|
250,000 |
199,653 |
|
Ivory Coast - 0.6% |
||||
Ivory Coast: |
|
|
|
|
5.375% 7/23/24 (f) |
|
200,000 |
188,500 |
|
5.75% 12/31/32 |
|
275,000 |
258,555 |
|
TOTAL IVORY COAST |
447,055 |
|||
Jamaica - 0.2% |
||||
Jamaican Government 8% 6/24/19 |
|
150,000 |
159,750 |
|
Jordan - 0.4% |
||||
Jordanian Kingdom 3.875% 11/12/15 |
|
300,000 |
301,290 |
|
Kazakhstan - 0.2% |
||||
Kazakhstan Republic 4.875% 10/14/44 (f) |
|
200,000 |
175,400 |
|
Kenya - 0.3% |
||||
Republic of Kenya 6.875% 6/24/24 (f) |
|
200,000 |
208,000 |
|
Lebanon - 0.5% |
||||
Lebanese Republic: |
|
|
|
|
5% 10/12/17 |
|
100,000 |
100,120 |
|
11.625% 5/11/16 (Reg. S) |
|
250,000 |
273,005 |
|
TOTAL LEBANON |
373,125 |
|||
Mexico - 1.1% |
||||
Comision Federal de Electricid 4.875% 1/15/24 (f) |
|
200,000 |
211,600 |
|
United Mexican States 5.75% 10/12/2110 |
|
500,000 |
565,000 |
|
TOTAL MEXICO |
776,600 |
|||
Mongolia - 0.2% |
||||
Mongolian People's Republic 5.125% 12/5/22 (Reg. S) |
|
200,000 |
166,000 |
|
Morocco - 0.3% |
||||
Moroccan Kingdom 5.5% 12/11/42 (f) |
|
200,000 |
224,250 |
|
Namibia - 0.3% |
||||
Republic of Namibia 5.5% 11/3/21 (f) |
|
200,000 |
215,000 |
|
Government Obligations - continued |
||||
|
Principal Amount |
Value |
||
Netherlands - 0.3% |
||||
Republic of Angola 7% 8/16/19 (Issued by Northern Lights III BV for Republic of Angola) (Reg. S) |
|
$ 250,000 |
$ 242,500 |
|
Nigeria - 0.3% |
||||
Republic of Nigeria 6.375% 7/12/23 |
|
200,000 |
183,532 |
|
Pakistan - 0.3% |
||||
Islamic Republic of Pakistan 7.25% 4/15/19 (f) |
|
200,000 |
203,750 |
|
Panama - 0.3% |
||||
Panamanian Republic 4.3% 4/29/53 |
|
200,000 |
200,500 |
|
Peru - 0.4% |
||||
Peruvian Republic 8.75% 11/21/33 |
|
200,000 |
317,500 |
|
Philippines - 0.8% |
||||
Philippine Republic 9.5% 2/2/30 |
|
350,000 |
594,125 |
|
Qatar - 0.4% |
||||
State of Qatar 5.75% 1/20/42 (f) |
|
250,000 |
317,188 |
|
Romania - 0.4% |
||||
Romanian Republic 6.125% 1/22/44 (f) |
|
200,000 |
266,750 |
|
Russia - 2.7% |
||||
Russian Federation: |
|
|
|
|
4.875% 9/16/23 (f) |
|
200,000 |
168,600 |
|
5% 4/29/20 (f) |
|
325,000 |
287,755 |
|
5.625% 4/4/42 (f) |
|
200,000 |
160,000 |
|
5.875% 9/16/43 (f) |
|
200,000 |
165,000 |
|
7.5% 3/31/30 (Reg. S) |
|
638,625 |
642,199 |
|
12.75% 6/24/28 (Reg. S) |
|
425,000 |
576,513 |
|
TOTAL RUSSIA |
2,000,067 |
|||
Senegal - 0.3% |
||||
Republic of Senegal 8.75% 5/13/21 (f) |
|
200,000 |
227,000 |
|
Serbia - 0.4% |
||||
Republic of Serbia 7.25% 9/28/21 (f) |
|
260,000 |
297,580 |
|
South Africa - 0.4% |
||||
South African Republic 5.875% 9/16/25 |
|
250,000 |
290,000 |
|
Sri Lanka - 0.4% |
||||
Democratic Socialist Republic of Sri Lanka 6.25% 10/4/20 (f) |
|
300,000 |
316,875 |
|
Tanzania - 0.3% |
||||
United Republic of Tanzania 6.3289% 3/9/20 (i) |
|
200,000 |
202,000 |
|
Government Obligations - continued |
||||
|
Principal Amount |
Value |
||
Turkey - 2.1% |
||||
Turkish Republic: |
|
|
|
|
6.625% 2/17/45 |
|
$ 200,000 |
$ 259,560 |
|
7% 6/5/20 |
|
250,000 |
293,410 |
|
7.25% 3/5/38 |
|
250,000 |
339,625 |
|
7.375% 2/5/25 |
|
300,000 |
382,410 |
|
11.875% 1/15/30 |
|
165,000 |
300,989 |
|
TOTAL TURKEY |
1,575,994 |
|||
Ukraine - 0.6% |
||||
Ukraine Government: |
|
|
|
|
6.58% 11/21/16 (f) |
|
250,000 |
134,750 |
|
6.75% 11/14/17 (f) |
|
200,000 |
103,800 |
|
7.5% 4/17/23 (Reg. S) |
|
250,000 |
124,880 |
|
9.25% 7/24/17 (f) |
|
200,000 |
106,232 |
|
TOTAL UKRAINE |
469,662 |
|||
United States of America - 0.1% |
||||
U.S. Treasury Bills, yield at date of purchase 0.02% to 0.03% 3/12/15 to 4/23/15 (h) |
|
90,000 |
89,999 |
|
Venezuela - 1.0% |
||||
Venezuelan Republic: |
|
|
|
|
7% 3/31/38 |
|
650,000 |
206,375 |
|
8.25% 10/13/24 |
|
300,000 |
98,250 |
|
9% 5/7/23 (Reg. S) |
|
100,000 |
33,250 |
|
9.25% 9/15/27 |
|
650,000 |
240,500 |
|
12.75% 8/23/22 |
|
325,000 |
121,875 |
|
TOTAL VENEZUELA |
700,250 |
|||
Vietnam - 0.3% |
||||
Vietnamese Socialist Republic 6.75% 1/29/20 (f) |
|
200,000 |
225,750 |
|
Zambia - 0.2% |
||||
Republic of Zambia 5.375% 9/20/22 (f) |
|
200,000 |
178,000 |
|
TOTAL GOVERNMENT OBLIGATIONS (Cost $20,404,773) |
|
|||
Preferred Securities - 0.4% |
||||
|
||||
China - 0.4% |
||||
Sinochem Group 5% (f)(g)(i) |
|
300,000 |
|
Money Market Funds - 3.0% |
|||
Shares |
Value |
||
Fidelity Cash Central Fund, 0.13% (b) |
2,164,410 |
$ 2,164,410 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
66,000 |
66,000 |
|
TOTAL MONEY MARKET FUNDS (Cost $2,230,410) |
|
||
TOTAL INVESTMENT PORTFOLIO - 99.4% (Cost $69,039,405) |
73,252,252 |
||
NET OTHER ASSETS (LIABILITIES) - 0.6% |
465,490 |
||
NET ASSETS - 100% |
$ 73,717,742 |
Futures Contracts |
|||||
|
Expiration |
Underlying |
Unrealized |
||
Purchased |
|||||
Equity Index Contracts |
|||||
28 NYSE E-mini MSCI Emerging Markets Index Contracts (United States) |
March 2015 |
$ 1,332,100 |
$ (17,523) |
|
The face value of futures purchased as a percentage of net assets is 1.8% |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(e) Security or a portion of the security is on loan at period end. |
(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $14,600,085 or 19.8% of net assets. |
(g) Security is perpetual in nature with no stated maturity date. |
(h) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $89,999. |
(i) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
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 |
$ 536 |
Fidelity Securities Lending Cash Central Fund |
175 |
Total |
$ 711 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 3,821,992 |
$ 768,421 |
$ 3,053,571 |
$ - |
Consumer Staples |
3,533,577 |
542,697 |
2,990,880 |
- |
Energy |
3,331,865 |
1,645,080 |
1,686,785 |
- |
Financials |
11,917,222 |
3,272,599 |
8,644,623 |
- |
Health Care |
1,010,338 |
- |
1,010,338 |
- |
Industrials |
3,181,318 |
677,539 |
2,503,779 |
- |
Information Technology |
8,331,760 |
799,893 |
7,531,867 |
- |
Materials |
3,003,087 |
1,051,014 |
1,952,073 |
- |
Telecommunication Services |
2,632,050 |
1,442,256 |
1,189,794 |
- |
Utilities |
1,309,037 |
463,463 |
845,574 |
- |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Corporate Bonds |
$ 8,710,168 |
$ - |
$ 8,710,168 |
$ - |
Government Obligations |
19,931,157 |
- |
19,931,157 |
- |
Preferred Securities |
308,271 |
- |
308,271 |
- |
Money Market Funds |
2,230,410 |
2,230,410 |
- |
- |
Total Investments in Securities: |
$ 73,252,252 |
$ 12,893,372 |
$ 60,358,880 |
$ - |
Derivative Instruments: |
||||
Liabilities |
||||
Futures Contracts |
$ (17,523) |
$ (17,523) |
$ - |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing in the accompanying Notes to Financial Statements: |
Transfers |
Total |
Level 1 to Level 2 |
$ 11,420,873 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $69,209,028. Net unrealized appreciation aggregated $4,043,224, of which $9,038,101 related to appreciated investment securities and $4,994,877 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds, foreign government and government agency obligations, preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
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. |
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. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Total International
Equity Fund
January 31, 2015
1.863104.107
TIE-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 97.5% |
|||
Shares |
Value |
||
Argentina - 0.2% |
|||
Banco Macro SA sponsored ADR |
6,700 |
$ 258,888 |
|
Grupo Financiero Galicia SA sponsored ADR |
15,500 |
253,580 |
|
YPF SA Class D sponsored ADR |
12,300 |
288,435 |
|
TOTAL ARGENTINA |
800,903 |
||
Australia - 3.5% |
|||
Ansell Ltd. |
36,338 |
637,831 |
|
Australia & New Zealand Banking Group Ltd. |
73,816 |
1,884,337 |
|
Carsales.com Ltd. |
35,762 |
284,766 |
|
CSL Ltd. |
41,674 |
2,836,064 |
|
DuluxGroup Ltd. |
12,301 |
56,980 |
|
Imdex Ltd. (a) |
42,463 |
9,684 |
|
RCG Corp. Ltd. |
76,989 |
43,629 |
|
SEEK Ltd. |
20,673 |
284,512 |
|
Sydney Airport unit |
279,267 |
1,079,149 |
|
Telstra Corp. Ltd. |
139,586 |
704,070 |
|
TFS Corp. Ltd. |
43,497 |
49,556 |
|
Transurban Group unit |
250,720 |
1,793,051 |
|
Westpac Banking Corp. |
89,997 |
2,405,266 |
|
TOTAL AUSTRALIA |
12,068,895 |
||
Austria - 0.5% |
|||
Andritz AG |
29,961 |
1,625,085 |
|
Zumtobel AG |
2,800 |
64,451 |
|
TOTAL AUSTRIA |
1,689,536 |
||
Bailiwick of Jersey - 1.2% |
|||
Shire PLC |
40,280 |
2,939,951 |
|
Wolseley PLC |
17,089 |
994,058 |
|
WPP PLC |
13,500 |
296,873 |
|
TOTAL BAILIWICK OF JERSEY |
4,230,882 |
||
Belgium - 2.1% |
|||
Anheuser-Busch InBev SA NV |
40,771 |
4,972,683 |
|
Gimv NV |
1,319 |
59,693 |
|
KBC Ancora (a) |
4,181 |
125,743 |
|
KBC Groupe SA (a) |
36,317 |
1,958,138 |
|
TOTAL BELGIUM |
7,116,257 |
||
Bermuda - 0.8% |
|||
China Gas Holdings Ltd. |
220,000 |
340,020 |
|
China Resources Gas Group Ltd. |
120,000 |
292,077 |
|
Credicorp Ltd. (United States) |
3,700 |
533,244 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Bermuda - continued |
|||
Lazard Ltd. Class A |
15,400 |
$ 705,320 |
|
Petra Diamonds Ltd. (a) |
141,500 |
326,937 |
|
Summit Ascent Holdings Ltd. (a) |
518,000 |
288,194 |
|
Travelport Worldwide Ltd. |
19,500 |
304,005 |
|
Vostok Nafta Investment Ltd. SDR (a) |
7,560 |
30,608 |
|
TOTAL BERMUDA |
2,820,405 |
||
Brazil - 1.2% |
|||
BB Seguridade Participacoes SA |
44,900 |
491,963 |
|
CCR SA |
71,800 |
408,871 |
|
Cetip SA - Mercados Organizado |
26,100 |
335,096 |
|
Cielo SA |
39,000 |
581,385 |
|
Iguatemi Empresa de Shopping Centers SA |
32,200 |
291,609 |
|
Kroton Educacional SA |
103,900 |
476,277 |
|
Qualicorp SA (a) |
36,900 |
365,115 |
|
Smiles SA |
18,000 |
283,425 |
|
Ultrapar Participacoes SA |
22,100 |
436,523 |
|
Weg SA |
32,700 |
389,975 |
|
TOTAL BRAZIL |
4,060,239 |
||
British Virgin Islands - 0.1% |
|||
Gem Diamonds Ltd. (a) |
13,773 |
29,250 |
|
Mail.Ru Group Ltd. GDR (a)(e) |
17,000 |
244,800 |
|
TOTAL BRITISH VIRGIN ISLANDS |
274,050 |
||
Canada - 0.8% |
|||
Canadian Pacific Railway Ltd. |
4,766 |
830,665 |
|
Imperial Oil Ltd. |
15,600 |
579,951 |
|
Pason Systems, Inc. |
30,000 |
422,838 |
|
Potash Corp. of Saskatchewan, Inc. |
23,200 |
844,599 |
|
ShawCor Ltd. Class A |
2,100 |
57,677 |
|
TOTAL CANADA |
2,735,730 |
||
Cayman Islands - 2.1% |
|||
58.com, Inc. ADR (a) |
900 |
34,623 |
|
Alibaba Group Holding Ltd. sponsored ADR |
3,800 |
338,504 |
|
Autohome, Inc. ADR Class A (a) |
7,800 |
277,836 |
|
Baidu.com, Inc. sponsored ADR (a) |
1,700 |
370,464 |
|
Bitauto Holdings Ltd. ADR (a) |
5,300 |
317,046 |
|
Sands China Ltd. |
280,800 |
1,367,032 |
|
Sino Biopharmaceutical Ltd. |
504,000 |
503,491 |
|
SouFun Holdings Ltd. ADR (d) |
50,000 |
305,500 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Cayman Islands - continued |
|||
Tencent Holdings Ltd. |
162,600 |
$ 2,742,502 |
|
Wynn Macau Ltd. |
289,600 |
801,945 |
|
TOTAL CAYMAN ISLANDS |
7,058,943 |
||
China - 0.8% |
|||
China International Travel Service Corp. Ltd. (A Shares) |
44,400 |
324,990 |
|
China Pacific Insurance Group Co. Ltd. (H Shares) |
132,400 |
636,283 |
|
Daqin Railway Co. Ltd. (A Shares) |
178,700 |
301,522 |
|
Kweichow Moutai Co. Ltd. |
12,900 |
363,140 |
|
PICC Property & Casualty Co. Ltd. (H Shares) |
246,340 |
480,443 |
|
SAIC Motor Corp. Ltd. |
85,900 |
309,122 |
|
Weifu High-Technology Co. Ltd. (B Shares) |
64,700 |
236,417 |
|
TOTAL CHINA |
2,651,917 |
||
Denmark - 1.3% |
|||
Jyske Bank A/S (Reg.) (a) |
16,654 |
755,960 |
|
Novo Nordisk A/S Series B sponsored ADR |
68,400 |
3,047,904 |
|
Spar Nord Bank A/S |
13,331 |
120,457 |
|
Topdanmark A/S (a) |
15,900 |
533,151 |
|
TOTAL DENMARK |
4,457,472 |
||
Egypt - 0.1% |
|||
Commercial International Bank SAE sponsored GDR |
57,100 |
408,836 |
|
Finland - 0.6% |
|||
Kone Oyj (B Shares) |
6,500 |
293,433 |
|
Sampo Oyj (A Shares) |
30,953 |
1,501,208 |
|
Tikkurila Oyj |
18,980 |
343,158 |
|
TOTAL FINLAND |
2,137,799 |
||
France - 6.9% |
|||
Atos Origin SA |
14,980 |
1,110,099 |
|
AXA SA |
70,906 |
1,670,981 |
|
BNP Paribas SA |
29,854 |
1,577,956 |
|
Cap Gemini SA |
17,902 |
1,306,203 |
|
Coface SA |
3,500 |
42,813 |
|
GDF Suez |
49,169 |
1,095,940 |
|
Havas SA |
99,286 |
768,523 |
|
Ingenico SA |
2,859 |
299,419 |
|
Laurent-Perrier Group SA |
859 |
67,850 |
|
LVMH Moet Hennessy - Louis Vuitton SA |
2,051 |
332,580 |
|
Orange SA |
97,400 |
1,713,567 |
|
Renault SA |
10,511 |
810,160 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
France - continued |
|||
Safran SA |
25,614 |
$ 1,713,185 |
|
Saft Groupe SA |
1,254 |
40,215 |
|
Sanofi SA |
30,847 |
2,842,240 |
|
Schneider Electric SA |
16,790 |
1,271,171 |
|
Total SA |
67,815 |
3,480,985 |
|
Unibail-Rodamco |
5,000 |
1,413,065 |
|
Vetoquinol SA |
1,500 |
59,274 |
|
Virbac SA |
510 |
113,646 |
|
Vivendi SA |
63,509 |
1,509,580 |
|
Zodiac Aerospace (d) |
9,700 |
323,021 |
|
TOTAL FRANCE |
23,562,473 |
||
Germany - 4.6% |
|||
Allianz SE |
13,481 |
2,222,902 |
|
alstria office REIT-AG |
2,900 |
37,178 |
|
BASF AG |
24,270 |
2,180,295 |
|
Bayer AG |
30,212 |
4,371,571 |
|
CompuGroup Medical AG |
6,146 |
159,109 |
|
Continental AG |
4,183 |
948,667 |
|
CTS Eventim AG |
8,266 |
237,251 |
|
Fielmann AG |
2,158 |
147,068 |
|
Fresenius SE & Co. KGaA |
20,900 |
1,198,799 |
|
GEA Group AG |
20,664 |
939,734 |
|
Linde AG |
18,149 |
3,484,372 |
|
TOTAL GERMANY |
15,926,946 |
||
Greece - 0.1% |
|||
Folli Follie SA |
11,400 |
341,244 |
|
Titan Cement Co. SA (Reg.) |
2,144 |
47,849 |
|
TOTAL GREECE |
389,093 |
||
Hong Kong - 0.2% |
|||
AIA Group Ltd. |
58,600 |
340,169 |
|
Galaxy Entertainment Group Ltd. |
62,000 |
323,837 |
|
TOTAL HONG KONG |
664,006 |
||
India - 2.7% |
|||
Adani Ports & Special Economic Zone |
70,381 |
386,203 |
|
Asian Paints India Ltd. |
11,236 |
155,172 |
|
Axis Bank Ltd. (a) |
42,854 |
408,740 |
|
Exide Industries Ltd. |
116,722 |
349,427 |
|
Grasim Industries Ltd. |
5,051 |
337,334 |
|
HCL Technologies Ltd. |
18,330 |
528,252 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
India - continued |
|||
HDFC Bank Ltd. |
19,982 |
$ 381,197 |
|
Housing Development Finance Corp. Ltd. |
82,773 |
1,679,703 |
|
ICICI Bank Ltd. (a) |
84,976 |
492,997 |
|
ITC Ltd. (a) |
99,130 |
587,112 |
|
Jyothy Laboratories Ltd. (a) |
16,584 |
77,082 |
|
Larsen & Toubro Ltd. (a) |
20,016 |
547,083 |
|
LIC Housing Finance Ltd. |
60,567 |
466,258 |
|
Lupin Ltd. |
15,207 |
397,946 |
|
Sun Pharmaceutical Industries Ltd. (a) |
38,394 |
567,191 |
|
Sun TV Ltd. |
52,056 |
341,282 |
|
Tata Consultancy Services Ltd. |
17,504 |
700,075 |
|
Tata Motors Ltd. (a) |
53,628 |
505,049 |
|
Titan Co. Ltd. (a) |
58,319 |
418,814 |
|
TOTAL INDIA |
9,326,917 |
||
Indonesia - 1.5% |
|||
PT ACE Hardware Indonesia Tbk |
6,056,100 |
353,283 |
|
PT Astra International Tbk |
1,042,700 |
642,049 |
|
PT Bank Central Asia Tbk |
600,000 |
629,976 |
|
PT Bank Rakyat Indonesia Tbk |
632,300 |
578,542 |
|
PT Global Mediacom Tbk |
3,029,600 |
441,889 |
|
PT Indocement Tunggal Prakarsa Tbk |
207,400 |
373,837 |
|
PT Jasa Marga Tbk |
676,300 |
382,667 |
|
PT Matahari Department Store Tbk |
295,300 |
360,657 |
|
PT Media Nusantara Citra Tbk |
1,935,600 |
435,490 |
|
PT Semen Gresik (Persero) Tbk |
323,000 |
369,374 |
|
PT Surya Citra Media Tbk |
1,271,400 |
341,295 |
|
PT Tower Bersama Infrastructure Tbk |
458,900 |
343,613 |
|
TOTAL INDONESIA |
5,252,672 |
||
Ireland - 1.3% |
|||
Actavis PLC (a) |
5,400 |
1,439,316 |
|
CRH PLC sponsored ADR |
51,829 |
1,251,152 |
|
FBD Holdings PLC |
5,372 |
66,774 |
|
James Hardie Industries PLC: |
|
|
|
CDI |
15,656 |
156,980 |
|
sponsored ADR |
29,355 |
1,484,482 |
|
TOTAL IRELAND |
4,398,704 |
||
Israel - 0.6% |
|||
Azrieli Group |
13,296 |
458,594 |
|
Ituran Location & Control Ltd. |
1,761 |
36,523 |
|
Sarine Technologies Ltd. |
25,000 |
48,113 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Israel - continued |
|||
Strauss Group Ltd. (a) |
4,759 |
$ 69,737 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
27,909 |
1,586,906 |
|
TOTAL ISRAEL |
2,199,873 |
||
Italy - 1.1% |
|||
Azimut Holding SpA |
26,614 |
622,227 |
|
Beni Stabili SpA SIIQ |
222,926 |
166,636 |
|
Interpump Group SpA |
51,891 |
739,410 |
|
Intesa Sanpaolo SpA |
328,200 |
959,743 |
|
Mediaset SpA (a) |
135,400 |
617,210 |
|
Telecom Italia SpA (a) |
663,200 |
770,617 |
|
TOTAL ITALY |
3,875,843 |
||
Japan - 13.5% |
|||
Air Water, Inc. |
3,000 |
51,619 |
|
Aozora Bank Ltd. |
204,000 |
742,393 |
|
Artnature, Inc. |
8,000 |
83,647 |
|
Asahi Co. Ltd. |
6,000 |
58,709 |
|
Astellas Pharma, Inc. |
206,400 |
3,187,924 |
|
Autobacs Seven Co. Ltd. |
4,400 |
64,419 |
|
Azbil Corp. |
5,000 |
124,235 |
|
Broadleaf Co. Ltd. |
3,200 |
49,390 |
|
Coca-Cola Central Japan Co. Ltd. |
31,800 |
529,469 |
|
Cosmos Pharmaceutical Corp. |
500 |
80,567 |
|
Daiichikosho Co. Ltd. |
1,600 |
46,335 |
|
Daikokutenbussan Co. Ltd. |
5,000 |
193,792 |
|
DENSO Corp. |
64,800 |
2,866,643 |
|
Dentsu, Inc. |
20,200 |
829,625 |
|
East Japan Railway Co. |
22,800 |
1,761,029 |
|
Fanuc Corp. |
6,800 |
1,141,987 |
|
Fast Retailing Co. Ltd. |
3,900 |
1,446,806 |
|
Fujitsu Ltd. |
125,000 |
660,560 |
|
GCA Savvian Group Corp. |
3,400 |
34,226 |
|
Glory Ltd. |
2,100 |
55,034 |
|
Goldcrest Co. Ltd. |
6,560 |
102,236 |
|
Harmonic Drive Systems, Inc. |
4,700 |
74,478 |
|
Hitachi Ltd. |
147,000 |
1,110,158 |
|
Hoya Corp. |
36,100 |
1,398,969 |
|
Itochu Corp. |
79,900 |
809,024 |
|
Iwatsuka Confectionary Co. Ltd. |
1,400 |
80,835 |
|
Japan Tobacco, Inc. |
70,600 |
1,922,908 |
|
KDDI Corp. |
21,100 |
1,489,427 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
Keyence Corp. |
5,921 |
$ 2,767,693 |
|
Kobayashi Pharmaceutical Co. Ltd. |
1,500 |
100,319 |
|
Koshidaka Holdings Co. Ltd. |
4,000 |
72,719 |
|
Kyoto Kimono Yuzen Co. Ltd. |
2,600 |
22,147 |
|
Lasertec Corp. |
3,900 |
48,240 |
|
Medikit Co. Ltd. |
1,700 |
53,135 |
|
Meiko Network Japan Co. Ltd. |
2,700 |
27,937 |
|
Miraial Co. Ltd. |
2,400 |
30,952 |
|
Mitsubishi Electric Corp. |
60,000 |
693,944 |
|
Mitsubishi UFJ Financial Group, Inc. |
507,600 |
2,697,524 |
|
Mitsui Fudosan Co. Ltd. |
54,000 |
1,365,207 |
|
Nabtesco Corp. |
3,800 |
98,103 |
|
Nagaileben Co. Ltd. |
6,600 |
109,129 |
|
ND Software Co. Ltd. |
3,000 |
63,271 |
|
Nihon M&A Center, Inc. |
1,500 |
52,059 |
|
Nihon Parkerizing Co. Ltd. |
7,400 |
176,422 |
|
Nippon Prologis REIT, Inc. |
227 |
534,460 |
|
Nippon Seiki Co. Ltd. |
3,000 |
67,845 |
|
Nippon Telegraph & Telephone Corp. |
22,100 |
1,308,028 |
|
NS Tool Co. Ltd. |
3,800 |
54,865 |
|
OBIC Co. Ltd. |
4,000 |
134,179 |
|
OMRON Corp. |
16,900 |
675,639 |
|
ORIX Corp. |
60,500 |
695,195 |
|
OSG Corp. |
12,400 |
228,306 |
|
Paramount Bed Holdings Co. Ltd. |
1,400 |
38,723 |
|
San-Ai Oil Co. Ltd. |
8,000 |
53,087 |
|
Seven & i Holdings Co., Ltd. |
37,000 |
1,353,982 |
|
Seven Bank Ltd. |
432,300 |
1,934,873 |
|
SHO-BOND Holdings Co. Ltd. |
22,900 |
969,404 |
|
Shoei Co. Ltd. |
3,900 |
60,924 |
|
SK Kaken Co. Ltd. |
1,000 |
76,873 |
|
SoftBank Corp. |
7,500 |
441,388 |
|
Software Service, Inc. |
1,600 |
54,261 |
|
Sony Financial Holdings, Inc. |
42,500 |
590,666 |
|
Sumitomo Mitsui Trust Holdings, Inc. |
280,920 |
987,863 |
|
Techno Medica Co. Ltd. |
1,800 |
37,576 |
|
TFP Consulting Group Co. Ltd. |
2,000 |
54,832 |
|
The Nippon Synthetic Chemical Industry Co. Ltd. |
10,000 |
61,494 |
|
TKC Corp. |
3,800 |
67,287 |
|
Tocalo Co. Ltd. |
2,800 |
47,137 |
|
Toyota Motor Corp. |
54,700 |
3,526,563 |
|
Tsutsumi Jewelry Co. Ltd. |
2,000 |
42,709 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Japan - continued |
|||
USS Co. Ltd. |
128,000 |
$ 2,008,134 |
|
Workman Co. Ltd. |
2,000 |
98,283 |
|
Yamato Kogyo Co. Ltd. |
24,300 |
625,382 |
|
TOTAL JAPAN |
46,205,203 |
||
Kenya - 0.5% |
|||
East African Breweries Ltd. |
89,800 |
304,722 |
|
Kenya Commercial Bank Ltd. |
469,600 |
299,745 |
|
Safaricom Ltd. |
6,201,700 |
957,491 |
|
TOTAL KENYA |
1,561,958 |
||
Korea (South) - 2.0% |
|||
Bgf Retail (a) |
8,387 |
613,524 |
|
Coway Co. Ltd. |
7,926 |
630,127 |
|
KEPCO Plant Service & Engineering Co. Ltd. |
3,861 |
308,488 |
|
Leeno Industrial, Inc. |
1,964 |
70,957 |
|
NAVER Corp. |
1,955 |
1,257,045 |
|
Samsung Electronics Co. Ltd. |
3,171 |
3,905,053 |
|
TOTAL KOREA (SOUTH) |
6,785,194 |
||
Luxembourg - 0.2% |
|||
RTL Group SA |
6,827 |
647,247 |
|
Malaysia - 0.2% |
|||
Astro Malaysia Holdings Bhd |
330,200 |
265,273 |
|
Tune Insurance Holdings Bhd |
586,600 |
291,803 |
|
TOTAL MALAYSIA |
557,076 |
||
Mexico - 1.5% |
|||
Banregio Grupo Financiero S.A.B. de CV (a) |
56,900 |
294,379 |
|
Compartamos S.A.B. de CV |
59,000 |
111,470 |
|
Consorcio ARA S.A.B. de CV (a) |
230,655 |
99,405 |
|
Fomento Economico Mexicano S.A.B. de CV: |
|
|
|
unit (a) |
73,600 |
614,696 |
|
sponsored ADR (a) |
5,833 |
487,405 |
|
Grupo Aeroportuario del Pacifico SA de CV Series B |
56,400 |
372,877 |
|
Grupo Aeroportuario del Sureste SA de CV Series B (a) |
31,600 |
413,154 |
|
Grupo Aeroportuario Norte S.A.B. de CV |
64,100 |
293,997 |
|
Grupo Financiero Banorte S.A.B. de CV Series O |
115,500 |
586,149 |
|
Grupo Mexico SA de CV Series B |
171,400 |
452,699 |
|
Grupo Televisa SA de CV (a) |
97,100 |
631,981 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Mexico - continued |
|||
Megacable Holdings S.A.B. de CV unit (a) |
91,500 |
$ 334,087 |
|
Promotora y Operadora de Infraestructura S.A.B. de CV (a) |
30,700 |
345,555 |
|
TOTAL MEXICO |
5,037,854 |
||
Netherlands - 1.4% |
|||
Aalberts Industries NV |
7,600 |
219,939 |
|
ASM International NV (depositary receipt) |
1,050 |
43,890 |
|
Heijmans NV (Certificaten Van Aandelen) |
5,281 |
50,623 |
|
ING Groep NV (Certificaten Van Aandelen) (a) |
215,223 |
2,675,741 |
|
Reed Elsevier NV |
73,112 |
1,787,484 |
|
VastNed Retail NV |
3,438 |
170,724 |
|
TOTAL NETHERLANDS |
4,948,401 |
||
Nigeria - 0.3% |
|||
Guaranty Trust Bank PLC GDR (Reg. S) |
62,000 |
328,600 |
|
Nestle Foods Nigeria PLC |
64,097 |
273,493 |
|
Nigerian Breweries PLC |
406,262 |
307,637 |
|
TOTAL NIGERIA |
909,730 |
||
Norway - 0.1% |
|||
Schibsted ASA (B Shares) |
3,900 |
252,398 |
|
Philippines - 0.9% |
|||
Alliance Global Group, Inc. |
741,000 |
417,826 |
|
GT Capital Holdings, Inc. |
15,300 |
417,847 |
|
Jollibee Food Corp. |
16,970 |
88,887 |
|
Metropolitan Bank & Trust Co. |
189,630 |
407,562 |
|
Robinsons Land Corp. |
506,600 |
318,123 |
|
Robinsons Retail Holdings, Inc. |
209,240 |
374,645 |
|
SM Investments Corp. |
23,900 |
501,334 |
|
SM Prime Holdings, Inc. |
1,034,900 |
433,986 |
|
TOTAL PHILIPPINES |
2,960,210 |
||
Russia - 0.3% |
|||
Magnit OJSC GDR (Reg. S) |
12,100 |
462,220 |
|
NOVATEK OAO GDR (Reg. S) |
5,900 |
413,000 |
|
Sberbank of Russia sponsored ADR |
86,100 |
319,001 |
|
TOTAL RUSSIA |
1,194,221 |
||
Singapore - 0.5% |
|||
Singapore Telecommunications Ltd. |
408,000 |
1,228,681 |
|
UOL Group Ltd. |
97,000 |
516,221 |
|
TOTAL SINGAPORE |
1,744,902 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
South Africa - 3.2% |
|||
Alexander Forbes Group Holding (a) |
415,047 |
$ 336,564 |
|
Aspen Pharmacare Holdings Ltd. |
16,400 |
614,089 |
|
Bidvest Group Ltd. |
20,132 |
555,615 |
|
Clicks Group Ltd. |
116,095 |
897,256 |
|
Coronation Fund Managers Ltd. |
34,400 |
304,443 |
|
Discovery Ltd. |
40,700 |
400,868 |
|
FirstRand Ltd. |
128,500 |
571,873 |
|
Life Healthcare Group Holdings Ltd. |
115,800 |
430,943 |
|
Mr Price Group Ltd. |
21,300 |
482,444 |
|
MTN Group Ltd. |
82,100 |
1,417,761 |
|
Nampak Ltd. |
119,130 |
434,293 |
|
Naspers Ltd. Class N |
20,900 |
3,015,074 |
|
Remgro Ltd. |
20,800 |
481,307 |
|
Sanlam Ltd. |
87,300 |
523,254 |
|
Woolworths Holdings Ltd. |
53,500 |
397,108 |
|
TOTAL SOUTH AFRICA |
10,862,892 |
||
Spain - 1.8% |
|||
Amadeus IT Holding SA Class A |
26,864 |
1,080,381 |
|
Iberdrola SA |
247,120 |
1,711,217 |
|
Inditex SA |
78,310 |
2,312,694 |
|
Mediaset Espana Comunicacion, S.A. (a) |
56,500 |
689,207 |
|
Prosegur Compania de Seguridad SA (Reg.) |
84,576 |
471,164 |
|
TOTAL SPAIN |
6,264,663 |
||
Sweden - 2.7% |
|||
ASSA ABLOY AB (B Shares) |
38,500 |
2,104,560 |
|
Atlas Copco AB (A Shares) |
46,059 |
1,365,482 |
|
Fagerhult AB |
47,155 |
782,193 |
|
H&M Hennes & Mauritz AB (B Shares) |
34,138 |
1,406,910 |
|
Intrum Justitia AB |
18,563 |
494,687 |
|
Nordea Bank AB |
138,467 |
1,762,173 |
|
Svenska Handelsbanken AB (A Shares) |
30,315 |
1,439,140 |
|
TOTAL SWEDEN |
9,355,145 |
||
Switzerland - 7.3% |
|||
Compagnie Financiere Richemont SA Series A |
4,020 |
333,974 |
|
Nestle SA |
97,813 |
7,470,074 |
|
Novartis AG |
57,234 |
5,577,613 |
|
Roche Holding AG (participation certificate) |
23,782 |
6,409,664 |
|
Schindler Holding AG: |
|
|
|
(participation certificate) |
6,511 |
968,637 |
|
(Reg.) |
2,251 |
328,506 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Switzerland - continued |
|||
Syngenta AG (Switzerland) |
1,982 |
$ 645,604 |
|
UBS Group AG |
202,597 |
3,379,318 |
|
TOTAL SWITZERLAND |
25,113,390 |
||
Taiwan - 1.4% |
|||
Addcn Technology Co. Ltd. |
4,000 |
39,536 |
|
Delta Electronics, Inc. |
99,000 |
600,330 |
|
Giant Manufacturing Co. Ltd. |
41,000 |
355,272 |
|
Largan Precision Co. Ltd. |
5,000 |
412,795 |
|
Merida Industry Co. Ltd. |
50,500 |
346,313 |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
680,035 |
2,969,014 |
|
TOTAL TAIWAN |
4,723,260 |
||
Thailand - 0.7% |
|||
Airports of Thailand PCL (For. Reg.) |
45,200 |
445,508 |
|
Bangkok Dusit Medical Services PCL (For. Reg.) |
578,900 |
327,882 |
|
Bumrungrad Hospital PCL (For. Reg.) |
82,700 |
392,971 |
|
Central Pattana PCL (For. Reg.) |
199,300 |
271,388 |
|
Kasikornbank PCL (For. Reg.) |
86,200 |
587,824 |
|
Thai Beverage PCL |
625,000 |
333,037 |
|
TOTAL THAILAND |
2,358,610 |
||
Turkey - 0.4% |
|||
Albaraka Turk Katilim Bankasi A/S |
83,907 |
59,338 |
|
Coca-Cola Icecek Sanayi A/S |
55,189 |
1,114,474 |
|
TAV Havalimanlari Holding A/S |
50,000 |
374,034 |
|
TOTAL TURKEY |
1,547,846 |
||
United Arab Emirates - 0.2% |
|||
DP World Ltd. |
16,415 |
322,555 |
|
First Gulf Bank PJSC |
89,762 |
415,446 |
|
TOTAL UNITED ARAB EMIRATES |
738,001 |
||
United Kingdom - 15.5% |
|||
Al Noor Hospitals Group PLC |
23,400 |
320,025 |
|
AstraZeneca PLC (United Kingdom) |
33,302 |
2,370,614 |
|
Babcock International Group PLC |
50,723 |
768,574 |
|
BAE Systems PLC |
307,321 |
2,349,151 |
|
Barclays PLC |
446,735 |
1,568,946 |
|
Bellway PLC |
6,528 |
179,344 |
|
Berendsen PLC |
45,355 |
761,015 |
|
BG Group PLC |
46,200 |
616,209 |
|
BP PLC sponsored ADR |
72,000 |
2,795,760 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United Kingdom - continued |
|||
British American Tobacco PLC (United Kingdom) |
5,300 |
$ 299,005 |
|
Britvic PLC |
11,317 |
120,087 |
|
Bunzl PLC |
46,832 |
1,338,113 |
|
Compass Group PLC |
82,007 |
1,421,703 |
|
Dechra Pharmaceuticals PLC |
9,000 |
117,258 |
|
Derwent London PLC |
2,000 |
98,054 |
|
Diageo PLC |
10,099 |
298,937 |
|
Elementis PLC |
33,108 |
137,833 |
|
GlaxoSmithKline PLC |
41,800 |
920,382 |
|
Great Portland Estates PLC |
13,372 |
158,207 |
|
H&T Group PLC |
10,000 |
25,605 |
|
Hilton Food Group PLC |
5,400 |
31,965 |
|
Howden Joinery Group PLC |
11,200 |
71,678 |
|
HSBC Holdings PLC sponsored ADR |
58,966 |
2,695,926 |
|
Imperial Tobacco Group PLC |
33,791 |
1,589,991 |
|
Informa PLC |
211,718 |
1,632,715 |
|
InterContinental Hotel Group PLC ADR |
57,596 |
2,290,017 |
|
Intertek Group PLC |
8,900 |
307,381 |
|
ITE Group PLC |
23,200 |
45,689 |
|
ITV PLC |
376,519 |
1,247,648 |
|
Johnson Matthey PLC |
45,477 |
2,233,702 |
|
Liberty Global PLC Class A (a) |
17,400 |
812,928 |
|
Lloyds Banking Group PLC (a) |
1,740,300 |
1,927,930 |
|
Meggitt PLC |
61,449 |
498,869 |
|
National Grid PLC |
126,680 |
1,780,993 |
|
Prudential PLC |
223,672 |
5,437,554 |
|
Reckitt Benckiser Group PLC |
33,751 |
2,856,511 |
|
Rio Tinto PLC |
46,500 |
2,043,348 |
|
Rolls-Royce Group PLC |
45,152 |
606,291 |
|
Rotork PLC |
2,100 |
72,908 |
|
SABMiller PLC |
50,863 |
2,777,490 |
|
Shaftesbury PLC |
56,637 |
663,686 |
|
Spectris PLC |
5,870 |
184,785 |
|
Spirax-Sarco Engineering PLC |
5,107 |
234,611 |
|
Standard Chartered PLC (United Kingdom) |
23,349 |
312,189 |
|
Taylor Wimpey PLC |
43,700 |
89,122 |
|
Ted Baker PLC |
2,775 |
99,184 |
|
Tesco PLC |
152,300 |
515,027 |
|
Ultra Electronics Holdings PLC |
4,501 |
118,572 |
|
Unite Group PLC |
82,677 |
610,063 |
|
Vodafone Group PLC sponsored ADR |
80,126 |
2,814,826 |
|
TOTAL UNITED KINGDOM |
53,268,421 |
||
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - 8.6% |
|||
A.O. Smith Corp. |
5,500 |
$ 326,755 |
|
Affiliated Managers Group, Inc. (a) |
1,500 |
308,280 |
|
Altria Group, Inc. |
19,600 |
1,040,760 |
|
American Tower Corp. |
3,000 |
290,850 |
|
ANSYS, Inc. (a) |
400 |
32,268 |
|
Autoliv, Inc. |
15,754 |
1,670,869 |
|
Ball Corp. |
4,600 |
291,318 |
|
Berkshire Hathaway, Inc. Class B (a) |
6,316 |
908,936 |
|
BorgWarner, Inc. |
24,394 |
1,317,520 |
|
Broadridge Financial Solutions, Inc. |
1,140 |
54,709 |
|
China Biologic Products, Inc. (a) |
4,600 |
313,444 |
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
9,700 |
1,071,365 |
|
Cummins, Inc. |
6,091 |
849,451 |
|
Dril-Quip, Inc. (a) |
770 |
57,157 |
|
Ecolab, Inc. |
3,000 |
311,310 |
|
Energizer Holdings, Inc. |
3,000 |
384,030 |
|
Evercore Partners, Inc. Class A |
1,160 |
55,529 |
|
FMC Technologies, Inc. (a) |
10,903 |
408,644 |
|
Google, Inc.: |
|
|
|
Class A (a) |
4,180 |
2,246,959 |
|
Class C (a) |
648 |
346,369 |
|
International Flavors & Fragrances, Inc. |
3,000 |
318,330 |
|
Kansas City Southern |
2,600 |
286,234 |
|
Kennedy-Wilson Holdings, Inc. |
5,183 |
137,816 |
|
Las Vegas Sands Corp. |
5,600 |
304,472 |
|
Martin Marietta Materials, Inc. |
7,080 |
762,799 |
|
MasterCard, Inc. Class A |
28,390 |
2,328,832 |
|
McGraw Hill Financial, Inc. |
14,000 |
1,252,160 |
|
Mead Johnson Nutrition Co. Class A |
5,700 |
561,393 |
|
Mohawk Industries, Inc. (a) |
7,835 |
1,293,088 |
|
Moody's Corp. |
8,500 |
776,305 |
|
National Oilwell Varco, Inc. |
4,446 |
241,996 |
|
Oceaneering International, Inc. |
9,638 |
504,646 |
|
Philip Morris International, Inc. |
13,300 |
1,067,192 |
|
PPG Industries, Inc. |
1,500 |
334,320 |
|
PriceSmart, Inc. |
8,085 |
661,191 |
|
ResMed, Inc. (d) |
10,120 |
632,196 |
|
ResMed, Inc. CDI |
147,144 |
916,551 |
|
Solera Holdings, Inc. |
11,485 |
592,626 |
|
SS&C Technologies Holdings, Inc. |
23,054 |
1,275,578 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
Union Pacific Corp. |
6,000 |
$ 703,260 |
|
Visa, Inc. Class A |
9,631 |
2,455,038 |
|
TOTAL UNITED STATES OF AMERICA |
29,692,546 |
||
TOTAL COMMON STOCKS (Cost $288,830,126) |
|
||
Nonconvertible Preferred Stocks - 1.2% |
|||
|
|
|
|
Brazil - 0.5% |
|||
Ambev SA sponsored ADR |
135,000 |
888,300 |
|
Itau Unibanco Holding SA sponsored ADR |
74,000 |
896,880 |
|
TOTAL BRAZIL |
1,785,180 |
||
Colombia - 0.1% |
|||
Grupo Aval Acciones y Valores SA |
636,001 |
334,943 |
|
Germany - 0.6% |
|||
Henkel AG & Co. KGaA |
2,700 |
309,982 |
|
Sartorius AG (non-vtg.) |
1,050 |
134,668 |
|
Volkswagen AG |
6,390 |
1,431,865 |
|
TOTAL GERMANY |
1,876,515 |
||
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $4,116,238) |
|
||
Money Market Funds - 1.5% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.13% (b) |
4,542,847 |
4,542,847 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
640,625 |
640,625 |
|
TOTAL MONEY MARKET FUNDS (Cost $5,183,472) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $298,129,836) |
344,017,669 |
||
NET OTHER ASSETS (LIABILITIES) - (0.2)% |
(669,149) |
||
NET ASSETS - 100% |
$ 343,348,520 |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(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 $244,800 or 0.1% of net assets. |
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 |
$ 1,578 |
Fidelity Securities Lending Cash Central Fund |
9,357 |
Total |
$ 10,935 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the 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 |
$ 54,305,923 |
$ 25,548,181 |
$ 28,757,742 |
$ - |
Consumer Staples |
36,286,624 |
14,205,980 |
22,080,644 |
- |
Energy |
10,356,908 |
6,206,627 |
4,150,281 |
- |
Financials |
73,835,063 |
33,110,630 |
40,724,433 |
- |
Health Care |
46,088,673 |
13,859,231 |
32,229,442 |
- |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Industrials |
41,141,889 |
27,762,422 |
13,379,467 |
- |
Information Technology |
36,441,464 |
15,863,837 |
20,577,627 |
- |
Materials |
20,458,357 |
14,834,405 |
5,623,952 |
- |
Telecommunication Services |
14,699,049 |
5,281,897 |
9,417,152 |
- |
Utilities |
5,220,247 |
2,807,157 |
2,413,090 |
- |
Money Market Funds |
5,183,472 |
5,183,472 |
- |
- |
Total Investments in Securities: |
$ 344,017,669 |
$ 164,663,839 |
$ 179,353,830 |
$ - |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 20,212,755 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $298,907,163. Net unrealized appreciation aggregated $45,110,506, of which $57,726,038 related to appreciated investment securities and $12,615,532 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Worldwide Fund
January 31, 2015
1.813085.110
WLD-QTLY-0315
Showing Percentage of Net Assets
Common Stocks - 94.7% |
|||
Shares |
Value |
||
Australia - 1.5% |
|||
Ansell Ltd. |
174,223 |
$ 3,058,089 |
|
Asaleo Care Ltd. (a) |
1,040,279 |
1,329,130 |
|
Australia & New Zealand Banking Group Ltd. |
363,547 |
9,280,443 |
|
Flight Centre Travel Group Ltd. |
41,365 |
1,207,496 |
|
G8 Education Ltd. |
377,605 |
1,225,402 |
|
Greencross Ltd. (e) |
73,412 |
505,911 |
|
Ramsay Health Care Ltd. |
80,656 |
3,711,693 |
|
Spotless Group Holdings Ltd. |
1,248,598 |
1,802,341 |
|
Woodside Petroleum Ltd. |
44,635 |
1,185,461 |
|
TOTAL AUSTRALIA |
23,305,966 |
||
Austria - 0.1% |
|||
Andritz AG |
28,200 |
1,529,568 |
|
Bailiwick of Jersey - 0.9% |
|||
MySale Group PLC (e) |
608,400 |
584,187 |
|
Randgold Resources Ltd. sponsored ADR |
24,000 |
2,046,240 |
|
Shire PLC |
110,200 |
8,043,263 |
|
Wolseley PLC |
66,164 |
3,848,723 |
|
TOTAL BAILIWICK OF JERSEY |
14,522,413 |
||
Belgium - 1.6% |
|||
Anheuser-Busch InBev SA NV |
86,511 |
10,551,415 |
|
Anheuser-Busch InBev SA NV ADR |
54,000 |
6,591,780 |
|
Arseus NV |
16,100 |
658,041 |
|
KBC Groupe SA (a) |
120,727 |
6,509,352 |
|
TOTAL BELGIUM |
24,310,588 |
||
Bermuda - 0.5% |
|||
BW Offshore Ltd. |
560,800 |
537,870 |
|
Freescale Semiconductor, Inc. (a) |
39,000 |
1,251,510 |
|
PAX Global Technology Ltd. (a) |
4,249,000 |
3,978,466 |
|
Travelport Worldwide Ltd. |
122,900 |
1,916,011 |
|
TOTAL BERMUDA |
7,683,857 |
||
Canada - 1.1% |
|||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) |
52,000 |
2,037,523 |
|
Constellation Software, Inc. |
17,300 |
4,793,545 |
|
Imperial Oil Ltd. |
59,200 |
2,200,840 |
|
Potash Corp. of Saskatchewan, Inc. |
52,600 |
1,914,910 |
|
PrairieSky Royalty Ltd. (e) |
97,200 |
2,093,621 |
|
Suncor Energy, Inc. |
39,400 |
1,175,148 |
|
TransForce, Inc. |
90,200 |
2,047,193 |
|
TOTAL CANADA |
16,262,780 |
||
Cayman Islands - 0.8% |
|||
Alibaba Group Holding Ltd. sponsored ADR |
30,900 |
2,752,572 |
|
Baidu.com, Inc. sponsored ADR (a) |
12,700 |
2,767,584 |
|
ENN Energy Holdings Ltd. |
198,000 |
1,170,430 |
|
Greatview Aseptic Pack Co. Ltd. |
1,799,000 |
820,069 |
|
International Housewares Retail Co. Ltd. |
3,317,000 |
836,093 |
|
|
|||
Shares |
Value |
||
Vipshop Holdings Ltd. ADR (a) |
87,000 |
$ 1,947,930 |
|
WuXi PharmaTech Cayman, Inc. sponsored ADR (a) |
53,700 |
2,153,370 |
|
TOTAL CAYMAN ISLANDS |
12,448,048 |
||
China - 0.1% |
|||
Daqin Railway Co. Ltd. (A Shares) |
445,000 |
750,851 |
|
Kweichow Moutai Co. Ltd. |
38,000 |
1,069,714 |
|
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares) |
48,959 |
160,570 |
|
TOTAL CHINA |
1,981,135 |
||
Cyprus - 0.0% |
|||
SPDI Secure Property Development & Investment PLC (a) |
31,822 |
15,338 |
|
Denmark - 0.5% |
|||
ISS Holdings A/S (a) |
45,600 |
1,348,987 |
|
Novo Nordisk A/S Series B |
120,580 |
5,374,336 |
|
Vestas Wind Systems A/S (a) |
25,300 |
993,197 |
|
TOTAL DENMARK |
7,716,520 |
||
Finland - 0.3% |
|||
Sampo Oyj (A Shares) |
99,200 |
4,811,160 |
|
France - 3.4% |
|||
Accor SA |
72,900 |
3,651,361 |
|
Air Liquide SA |
21,800 |
2,759,008 |
|
Atos Origin SA |
33,157 |
2,457,113 |
|
AXA SA |
322,600 |
7,602,440 |
|
BNP Paribas SA |
45,930 |
2,427,665 |
|
Havas SA |
390,700 |
3,024,213 |
|
Ingenico SA |
18,261 |
1,912,445 |
|
Numericable Group SA (a) |
119,465 |
6,236,790 |
|
Rexel SA |
80,110 |
1,502,703 |
|
Schneider Electric SA |
45,700 |
3,459,947 |
|
Sodexo SA |
27,200 |
2,708,764 |
|
SR Teleperformance SA |
18,900 |
1,358,092 |
|
Total SA |
213,415 |
10,954,722 |
|
Unibail-Rodamco |
9,900 |
2,797,869 |
|
TOTAL FRANCE |
52,853,132 |
||
Germany - 3.2% |
|||
Aareal Bank AG |
63,891 |
2,428,340 |
|
Allianz SE |
8,120 |
1,338,919 |
|
Bayer AG |
69,000 |
9,984,059 |
|
Beiersdorf AG |
15,300 |
1,345,084 |
|
Continental AG |
18,900 |
4,286,350 |
|
Deutsche Annington Immobilien SE |
50,700 |
1,764,563 |
|
Deutsche Boerse AG |
28,600 |
2,198,594 |
|
Drillisch AG |
127,100 |
4,954,994 |
|
Fresenius SE & Co. KGaA |
29,600 |
1,697,820 |
|
GEA Group AG |
92,994 |
4,229,074 |
|
KION Group AG |
95,589 |
3,715,736 |
|
LEG Immobilien AG |
59,550 |
4,571,112 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Germany - continued |
|||
ProSiebenSat.1 Media AG |
43,542 |
$ 1,935,625 |
|
Siemens AG |
42,151 |
4,452,700 |
|
TOTAL GERMANY |
48,902,970 |
||
Greece - 0.1% |
|||
Folli Follie SA |
59,300 |
1,775,068 |
|
Hong Kong - 1.2% |
|||
AIA Group Ltd. |
1,627,400 |
9,446,958 |
|
Hutchison Whampoa Ltd. |
117,000 |
1,548,398 |
|
Techtronic Industries Co. Ltd. |
2,162,500 |
7,062,223 |
|
TOTAL HONG KONG |
18,057,579 |
||
India - 1.8% |
|||
Bharti Infratel Ltd. |
702,057 |
4,085,199 |
|
Container Corp. of India Ltd. |
33,567 |
791,546 |
|
Edelweiss Financial Srvs Ltd. |
1,168,424 |
1,303,200 |
|
Housing Development Finance Corp. Ltd. |
454,567 |
9,224,474 |
|
Info Edge India Ltd. |
114,845 |
1,573,032 |
|
Lupin Ltd. |
189,814 |
4,967,173 |
|
The Jammu & Kashmir Bank Ltd. |
460,230 |
1,128,928 |
|
Titan Co. Ltd. (a) |
144,739 |
1,039,433 |
|
Yes Bank Ltd. |
202,552 |
2,807,913 |
|
TOTAL INDIA |
26,920,898 |
||
Indonesia - 0.4% |
|||
PT Bank Central Asia Tbk |
2,635,200 |
2,766,853 |
|
PT Bank Rakyat Indonesia Tbk |
2,837,700 |
2,596,441 |
|
TOTAL INDONESIA |
5,363,294 |
||
Ireland - 5.0% |
|||
Actavis PLC (a) |
145,800 |
38,861,532 |
|
Alkermes PLC (a) |
120,610 |
8,714,073 |
|
Bank of Ireland (a) |
3,692,100 |
1,108,614 |
|
Glanbia PLC |
156,100 |
2,522,420 |
|
Greencore Group PLC |
2,008,941 |
9,325,722 |
|
James Hardie Industries PLC CDI |
110,525 |
1,108,213 |
|
Kerry Group PLC Class A |
59,000 |
4,281,547 |
|
Medtronic PLC |
160,000 |
11,424,000 |
|
TOTAL IRELAND |
77,346,121 |
||
Israel - 0.4% |
|||
Bezeq The Israel Telecommunication Corp. Ltd. |
1,579,900 |
2,523,693 |
|
Frutarom Industries Ltd. |
53,593 |
1,678,083 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
32,000 |
1,819,520 |
|
TOTAL ISRAEL |
6,021,296 |
||
Italy - 0.8% |
|||
Assicurazioni Generali SpA |
82,100 |
1,734,855 |
|
De Longhi SpA |
168,300 |
3,039,060 |
|
Intesa Sanpaolo SpA |
607,800 |
1,777,367 |
|
|
|||
Shares |
Value |
||
Telecom Italia SpA (a)(e) |
2,866,200 |
$ 3,330,432 |
|
World Duty Free SpA (a) |
159,397 |
1,759,759 |
|
TOTAL ITALY |
11,641,473 |
||
Japan - 5.9% |
|||
A/S One Corp. |
67,300 |
1,800,591 |
|
ACOM Co. Ltd. (a)(e) |
678,600 |
1,846,086 |
|
Aozora Bank Ltd. |
678,000 |
2,467,365 |
|
Astellas Pharma, Inc. |
616,500 |
9,522,070 |
|
Broadleaf Co. Ltd. |
112,100 |
1,730,196 |
|
Coca-Cola Central Japan Co. Ltd. |
98,800 |
1,645,018 |
|
Daiichikosho Co. Ltd. |
23,800 |
689,239 |
|
Dentsu, Inc. |
57,100 |
2,345,127 |
|
Don Quijote Holdings Co. Ltd. |
48,500 |
3,531,167 |
|
Hitachi Ltd. |
409,000 |
3,088,807 |
|
Hoya Corp. |
147,000 |
5,696,632 |
|
Japan Exchange Group, Inc. |
116,500 |
2,711,009 |
|
Japan Tobacco, Inc. |
24,100 |
656,403 |
|
KDDI Corp. |
108,000 |
7,623,608 |
|
Keyence Corp. |
7,660 |
3,580,565 |
|
NEC Corp. |
1,525,000 |
4,307,599 |
|
Nidec Corp. |
14,700 |
1,000,305 |
|
Nippon Kanzai Co. Ltd. |
53,500 |
1,163,620 |
|
Olympus Corp. (a) |
95,600 |
3,306,235 |
|
OMRON Corp. |
80,100 |
3,202,291 |
|
ORIX Corp. |
185,400 |
2,130,398 |
|
Rakuten, Inc. |
309,300 |
4,282,035 |
|
Seven Bank Ltd. |
1,032,700 |
4,622,121 |
|
Ship Healthcare Holdings, Inc. |
67,000 |
1,662,759 |
|
SoftBank Corp. |
61,200 |
3,601,724 |
|
Sony Corp. |
120,300 |
2,829,587 |
|
Sundrug Co. Ltd. |
53,300 |
2,262,420 |
|
Toshiba Plant Systems & Services Corp. |
112,200 |
1,719,779 |
|
Tsuruha Holdings, Inc. |
70,100 |
4,710,438 |
|
VT Holdings Co. Ltd. |
280,200 |
1,127,653 |
|
TOTAL JAPAN |
90,862,847 |
||
Kenya - 0.2% |
|||
Safaricom Ltd. |
18,905,500 |
2,918,852 |
|
Korea (South) - 0.5% |
|||
Medy-Tox, Inc. |
8,652 |
2,883,960 |
|
Naturalendo Tech Co. Ltd. |
11,955 |
561,618 |
|
NAVER Corp. |
3,720 |
2,391,921 |
|
Samsung Electronics Co. Ltd. |
1,619 |
1,993,781 |
|
TOTAL KOREA (SOUTH) |
7,831,280 |
||
Luxembourg - 0.6% |
|||
Altice SA |
69,600 |
5,827,817 |
|
Eurofins Scientific SA |
2,600 |
671,333 |
|
Grand City Properties SA (a) |
196,600 |
3,221,291 |
|
TOTAL LUXEMBOURG |
9,720,441 |
||
Marshall Islands - 0.1% |
|||
Hoegh LNG Partners LP |
49,800 |
1,093,608 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
Netherlands - 2.2% |
|||
AerCap Holdings NV (a) |
100,300 |
$ 3,964,859 |
|
IMCD Group BV |
122,100 |
3,877,041 |
|
ING Groep NV (Certificaten Van Aandelen) (a) |
375,000 |
4,662,155 |
|
NXP Semiconductors NV (a) |
128,000 |
10,155,520 |
|
Royal DSM NV |
48,538 |
2,589,920 |
|
Unilever NV (Certificaten Van Aandelen) (Bearer) |
213,100 |
9,241,005 |
|
TOTAL NETHERLANDS |
34,490,500 |
||
New Zealand - 0.3% |
|||
EBOS Group Ltd. |
295,468 |
2,031,445 |
|
Ryman Healthcare Group Ltd. |
459,616 |
2,758,747 |
|
TOTAL NEW ZEALAND |
4,790,192 |
||
Philippines - 0.3% |
|||
Alliance Global Group, Inc. |
4,919,115 |
2,773,733 |
|
SM Investments Corp. |
106,630 |
2,236,705 |
|
TOTAL PHILIPPINES |
5,010,438 |
||
Portugal - 0.1% |
|||
CTT Correios de Portugal SA |
153,154 |
1,618,149 |
|
South Africa - 0.4% |
|||
Distell Group Ltd. |
126,410 |
1,558,399 |
|
Naspers Ltd. Class N |
30,400 |
4,385,562 |
|
TOTAL SOUTH AFRICA |
5,943,961 |
||
Spain - 1.0% |
|||
Amadeus IT Holding SA Class A |
142,500 |
5,730,880 |
|
Atresmedia Corporacion de Medios de Comunicacion SA |
93,500 |
1,375,628 |
|
Criteria CaixaCorp SA |
592,500 |
2,587,045 |
|
Inditex SA |
133,345 |
3,938,018 |
|
Mediaset Espana Comunicacion, S.A. (a) |
140,608 |
1,715,186 |
|
TOTAL SPAIN |
15,346,757 |
||
Sweden - 1.2% |
|||
ASSA ABLOY AB (B Shares) |
103,000 |
5,630,381 |
|
H&M Hennes & Mauritz AB (B Shares) |
33,403 |
1,376,619 |
|
HEXPOL AB (B Shares) |
18,900 |
1,899,320 |
|
Lifco AB (a) |
33,100 |
542,852 |
|
Nordea Bank AB |
416,000 |
5,294,143 |
|
Svenska Handelsbanken AB (A Shares) |
84,400 |
4,006,710 |
|
TOTAL SWEDEN |
18,750,025 |
||
Switzerland - 2.5% |
|||
Clariant AG (Reg.) |
151,250 |
2,437,922 |
|
Compagnie Financiere Richemont SA Series A |
33,134 |
2,752,710 |
|
Lonza Group AG |
38,651 |
4,596,699 |
|
Partners Group Holding AG |
13,818 |
3,711,086 |
|
Roche Holding AG (participation certificate) |
52,236 |
14,078,513 |
|
|
|||
Shares |
Value |
||
Schindler Holding AG (participation certificate) |
10,829 |
$ 1,611,023 |
|
Sonova Holding AG Class B |
21,498 |
2,835,338 |
|
UBS Group AG |
382,875 |
6,417,389 |
|
TOTAL SWITZERLAND |
38,440,680 |
||
Taiwan - 0.1% |
|||
ECLAT Textile Co. Ltd. |
5,757 |
59,169 |
|
Merida Industry Co. Ltd. |
309,750 |
2,124,165 |
|
TOTAL TAIWAN |
2,183,334 |
||
Turkey - 0.1% |
|||
Logo Yazilim Sanayi Ve Ticar (a) |
81,183 |
922,572 |
|
United Kingdom - 6.5% |
|||
Aberdeen Asset Management PLC |
355,842 |
2,345,937 |
|
Al Noor Hospitals Group PLC |
210,800 |
2,882,963 |
|
Associated British Foods PLC |
48,600 |
2,271,437 |
|
B&M European Value Retail S.A. |
406,743 |
1,934,399 |
|
BG Group PLC |
240,300 |
3,205,089 |
|
British American Tobacco PLC (United Kingdom) |
91,900 |
5,184,632 |
|
BTG PLC (a) |
117,300 |
1,397,517 |
|
Bunzl PLC |
134,200 |
3,834,445 |
|
Diageo PLC |
198,357 |
5,871,490 |
|
Essentra PLC |
156,700 |
1,958,979 |
|
Exova Group Ltd. PLC (a) |
148,600 |
335,732 |
|
Hikma Pharmaceuticals PLC |
151,087 |
5,370,587 |
|
Hilton Food Group PLC |
350,100 |
2,072,370 |
|
Howden Joinery Group PLC |
360,800 |
2,309,064 |
|
Imperial Tobacco Group PLC |
68,233 |
3,210,614 |
|
ITV PLC |
907,700 |
3,007,791 |
|
Johnson Matthey PLC |
57,900 |
2,843,885 |
|
Liberty Global PLC Class A (a) |
41,200 |
1,924,864 |
|
Lloyds Banking Group PLC (a) |
4,617,400 |
5,115,223 |
|
London Stock Exchange Group PLC |
149,781 |
5,335,443 |
|
Melrose PLC |
730,400 |
2,915,340 |
|
Next PLC |
56,500 |
6,157,007 |
|
Persimmon PLC |
92,000 |
2,206,041 |
|
Poundland Group PLC |
248,394 |
1,321,431 |
|
Reckitt Benckiser Group PLC |
46,700 |
3,952,448 |
|
Rex Bionics PLC (a) |
100,000 |
105,434 |
|
SABMiller PLC |
68,800 |
3,756,981 |
|
St. James's Place Capital PLC |
335,400 |
4,334,440 |
|
Taylor Wimpey PLC |
761,900 |
1,553,815 |
|
Tesco PLC |
353,700 |
1,196,094 |
|
The Restaurant Group PLC |
123,700 |
1,340,550 |
|
Virgin Money Holdings Uk PLC (a) |
305,900 |
1,440,985 |
|
Vodafone Group PLC |
1,977,009 |
6,952,111 |
|
Workspace Group PLC |
48,900 |
581,860 |
|
TOTAL UNITED KINGDOM |
100,226,998 |
||
United States of America - 49.0% |
|||
Adobe Systems, Inc. (a) |
625,200 |
43,845,276 |
|
Agios Pharmaceuticals, Inc. (a) |
10,000 |
1,159,200 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
Alaska Air Group, Inc. |
48,000 |
$ 3,257,760 |
|
Alexion Pharmaceuticals, Inc. (a) |
9,000 |
1,649,160 |
|
Allegiant Travel Co. |
5,000 |
906,350 |
|
Alnylam Pharmaceuticals, Inc. (a) |
4,400 |
412,852 |
|
Amazon.com, Inc. (a) |
5,000 |
1,772,650 |
|
American Airlines Group, Inc. |
123,500 |
6,061,380 |
|
American Electric Power Co., Inc. |
13,000 |
816,530 |
|
Ameriprise Financial, Inc. |
255,400 |
31,909,676 |
|
Amgen, Inc. |
123,000 |
18,727,980 |
|
Anthem, Inc. |
49,300 |
6,653,528 |
|
Auspex Pharmaceuticals, Inc. |
3,400 |
208,930 |
|
Autodesk, Inc. (a) |
23,000 |
1,242,115 |
|
Avalanche Biotechnologies, Inc. (a) |
1,800 |
71,424 |
|
Bank of America Corp. |
679,400 |
10,292,910 |
|
Becton, Dickinson & Co. |
12,000 |
1,656,960 |
|
Biogen Idec, Inc. (a) |
13,000 |
5,059,080 |
|
BioMarin Pharmaceutical, Inc. (a) |
21,000 |
2,040,360 |
|
bluebird bio, Inc. (a) |
6,300 |
585,333 |
|
Booz Allen Hamilton Holding Corp. Class A |
51,000 |
1,484,610 |
|
Bristol-Myers Squibb Co. |
84,000 |
5,062,680 |
|
Cabela's, Inc. Class A (a) |
19,000 |
1,044,050 |
|
Cabot Oil & Gas Corp. |
538,140 |
14,260,710 |
|
Celgene Corp. (a) |
128,000 |
15,252,480 |
|
Chevron Corp. |
37,900 |
3,885,887 |
|
Chimerix, Inc. (a) |
3,900 |
156,429 |
|
Chipotle Mexican Grill, Inc. (a) |
3,000 |
2,129,520 |
|
Church & Dwight Co., Inc. |
21,000 |
1,699,320 |
|
CMS Energy Corp. |
24,000 |
905,520 |
|
Comcast Corp. Class A |
127,000 |
6,749,415 |
|
Constellation Brands, Inc. Class A (sub. vtg.) (a) |
151,300 |
16,711,085 |
|
Cummins, Inc. |
60,700 |
8,465,222 |
|
CVS Health Corp. |
426,000 |
41,816,160 |
|
Cypress Semiconductor Corp. (e) |
85,000 |
1,252,050 |
|
Delta Air Lines, Inc. |
94,000 |
4,447,140 |
|
Denbury Resources, Inc. (e) |
479,000 |
3,305,100 |
|
Domino's Pizza, Inc. |
28,000 |
2,773,400 |
|
Dr. Pepper Snapple Group, Inc. |
13,000 |
1,004,510 |
|
Dynegy, Inc. (a) |
253,500 |
6,925,620 |
|
Ecolab, Inc. |
64,000 |
6,641,280 |
|
Edison International |
38,000 |
2,589,700 |
|
Entellus Medical, Inc. |
3,100 |
66,929 |
|
Exelon Corp. |
107,000 |
3,856,280 |
|
Express Scripts Holding Co. (a) |
42,000 |
3,389,820 |
|
Facebook, Inc. Class A (a) |
142,500 |
10,817,175 |
|
FedEx Corp. |
87,000 |
14,712,570 |
|
Fidelity National Information Services, Inc. |
20,000 |
1,248,600 |
|
Gilead Sciences, Inc. (a) |
379,000 |
39,730,570 |
|
Google, Inc. Class A (a) |
36,900 |
19,835,595 |
|
Humana, Inc. |
46,000 |
6,736,240 |
|
Illumina, Inc. (a) |
3,400 |
663,646 |
|
|
|||
Shares |
Value |
||
inContact, Inc. (a) |
167,000 |
$ 1,431,190 |
|
Intel Corp. |
7,000 |
231,280 |
|
Intercept Pharmaceuticals, Inc. (a) |
40,500 |
8,141,715 |
|
Intuit, Inc. |
203,000 |
17,624,460 |
|
Isis Pharmaceuticals, Inc. (a) |
10,900 |
746,759 |
|
Juno Therapeutics, Inc. (e) |
18,000 |
769,500 |
|
Level 3 Communications, Inc. (a) |
62,000 |
3,083,880 |
|
Lithia Motors, Inc. Class A (sub. vtg.) |
16,000 |
1,355,200 |
|
lululemon athletica, Inc. (a) |
41,000 |
2,715,840 |
|
M/A-COM Technology Solutions Holdings, Inc. (a) |
82,000 |
2,665,820 |
|
MarketAxess Holdings, Inc. |
21,000 |
1,595,370 |
|
Marriott International, Inc. Class A |
43,200 |
3,218,400 |
|
MasterCard, Inc. Class A |
174,000 |
14,273,220 |
|
McGraw Hill Financial, Inc. |
600,400 |
53,699,772 |
|
Moody's Corp. |
124,000 |
11,324,920 |
|
Neurocrine Biosciences, Inc. (a) |
41,600 |
1,400,256 |
|
Newmont Mining Corp. |
34,000 |
855,100 |
|
NextEra Energy Partners LP |
35,664 |
1,429,770 |
|
NiSource, Inc. |
134,000 |
5,796,840 |
|
Oracle Corp. |
50,000 |
2,094,500 |
|
Pacira Pharmaceuticals, Inc. (a) |
7,000 |
751,450 |
|
Palo Alto Networks, Inc. (a) |
10,000 |
1,263,900 |
|
Papa John's International, Inc. |
23,000 |
1,459,580 |
|
Pharmacyclics, Inc. (a) |
26,000 |
4,387,500 |
|
Piedmont Office Realty Trust, Inc. Class A |
93,000 |
1,816,290 |
|
Prestige Brands Holdings, Inc. (a) |
435,000 |
14,903,100 |
|
Procter & Gamble Co. |
148,000 |
12,474,920 |
|
PulteGroup, Inc. |
405,000 |
8,338,950 |
|
Puma Biotechnology, Inc. (a) |
7,000 |
1,477,560 |
|
Ralph Lauren Corp. |
33,000 |
5,507,370 |
|
Realogy Holdings Corp. (a) |
17,000 |
790,500 |
|
Regeneron Pharmaceuticals, Inc. (a) |
1,500 |
624,990 |
|
Rock-Tenn Co. Class A |
26,000 |
1,687,400 |
|
Ross Stores, Inc. |
126,000 |
11,555,460 |
|
salesforce.com, Inc. (a) |
17,300 |
976,585 |
|
Shake Shack, Inc. Class A |
500 |
22,950 |
|
Southwest Airlines Co. |
115,000 |
5,195,700 |
|
Southwestern Energy Co. (a) |
248,000 |
6,147,920 |
|
Spark Therapeutics, Inc. |
1,500 |
75,000 |
|
Spirit Airlines, Inc. (a) |
121,500 |
9,008,010 |
|
Synageva BioPharma Corp. (a) |
11,000 |
1,267,420 |
|
T-Mobile U.S., Inc. (a) |
69,000 |
2,082,420 |
|
Target Corp. |
114,000 |
8,391,540 |
|
The Cooper Companies, Inc. |
13,800 |
2,175,570 |
|
The Hain Celestial Group, Inc. (a) |
29,000 |
1,530,330 |
|
The Walt Disney Co. |
84,000 |
7,640,640 |
|
TJX Companies, Inc. |
33,900 |
2,235,366 |
|
Twitter, Inc. (a) |
12,000 |
450,360 |
|
Ultragenyx Pharmaceutical, Inc. |
2,700 |
156,870 |
|
Union Pacific Corp. |
243,800 |
28,575,798 |
|
United Continental Holdings, Inc. (a) |
56,000 |
3,884,720 |
|
UnitedHealth Group, Inc. |
119,000 |
12,643,750 |
|
Vertex Pharmaceuticals, Inc. (a) |
30,000 |
3,304,200 |
|
Common Stocks - continued |
|||
Shares |
Value |
||
United States of America - continued |
|||
Visa, Inc. Class A |
51,500 |
$ 13,127,865 |
|
Wal-Mart Stores, Inc. |
103,000 |
8,752,940 |
|
Wells Fargo & Co. |
230,000 |
11,941,600 |
|
Whirlpool Corp. |
14,000 |
2,787,120 |
|
Workday, Inc. Class A (a) |
1,100 |
87,406 |
|
Xcel Energy, Inc. |
151,000 |
5,667,030 |
|
XenoPort, Inc. (a) |
35,000 |
291,550 |
|
Zebra Technologies Corp. Class A (a) |
261,000 |
21,783,060 |
|
Zimmer Holdings, Inc. |
35,000 |
3,923,500 |
|
TOTAL UNITED STATES OF AMERICA |
753,568,749 |
||
TOTAL COMMON STOCKS (Cost $1,254,214,474) |
|
||
Preferred Stocks - 0.9% |
|||
|
|
|
|
Convertible Preferred Stocks - 0.3% |
|||
Cayman Islands - 0.1% |
|||
Meituan Corp. Series D (h)(i) |
184,583 |
1,166,878 |
|
United States of America - 0.2% |
|||
Dynegy, Inc. 5.375% |
10,000 |
1,035,000 |
|
Southwestern Energy Co. Series B 6.25% (a) |
51,600 |
2,799,300 |
|
TOTAL UNITED STATES OF AMERICA |
3,834,300 |
||
TOTAL CONVERTIBLE PREFERRED STOCKS |
5,001,178 |
||
Nonconvertible Preferred Stocks - 0.6% |
|||
Germany - 0.6% |
|||
Henkel AG & Co. KGaA |
7,100 |
815,137 |
|
Volkswagen AG |
35,700 |
7,999,620 |
|
TOTAL GERMANY |
8,814,757 |
||
TOTAL PREFERRED STOCKS (Cost $12,162,704) |
|
Government Obligations - 0.1% |
||||
|
Principal Amount (d) |
Value |
||
United States of America - 0.1% |
||||
U.S. Treasury Bills, yield at date of purchase 0.02% to 0.03% 2/5/15 to 2/12/15 |
|
$ 900,000 |
$ 899,998 |
|
Preferred Securities - 0.1% |
||||
|
||||
Ireland - 0.1% |
||||
Baggot Securities Ltd. 10.24% (f)(g) |
EUR |
1,260,000 |
|
Money Market Funds - 3.8% |
|||
Shares |
|
||
Fidelity Cash Central Fund, 0.13% (b) |
51,927,827 |
51,927,827 |
|
Fidelity Securities Lending Cash Central Fund, 0.14% (b)(c) |
7,307,395 |
7,307,395 |
|
TOTAL MONEY MARKET FUNDS (Cost $59,235,222) |
|
||
TOTAL INVESTMENT PORTFOLIO - 99.6% (Cost $1,328,447,448) |
1,532,775,135 |
||
NET OTHER ASSETS (LIABILITIES) - 0.4% |
6,554,454 |
||
NET ASSETS - 100% |
$ 1,539,329,589 |
Currency Abbreviations |
||
EUR |
- |
European Monetary Unit |
Legend |
(a) Non-income producing |
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Amount is stated in United States dollars unless otherwise noted. |
(e) Security or a portion of the security is on loan at period end. |
(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,635,393 or 0.1% of net assets. |
(g) Security is perpetual in nature with no stated maturity date. |
(h) Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(i) 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 $1,166,878 or 0.1% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition |
Acquisition |
Meituan Corp. Series D |
1/26/15 |
$ 1,166,878 |
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 |
$ 12,303 |
Fidelity Securities Lending Cash Central Fund |
31,133 |
Total |
$ 43,436 |
Other Information |
Categorizations in the Schedule of Investments are based on country or territory of incorporation. |
The following is a summary of the inputs used, as of January 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing. |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 182,703,883 |
$ 146,550,419 |
$ 36,153,464 |
$ - |
Consumer Staples |
170,952,653 |
122,219,880 |
48,732,773 |
- |
Energy |
52,845,276 |
37,500,004 |
15,345,272 |
- |
Financials |
265,843,122 |
199,508,655 |
66,334,467 |
- |
Health Care |
324,305,832 |
264,829,621 |
59,476,211 |
- |
Industrials |
147,864,655 |
128,457,799 |
18,239,978 |
1,166,878 |
Information Technology |
218,590,908 |
187,047,618 |
31,543,290 |
- |
Materials |
35,117,370 |
33,189,088 |
1,928,282 |
- |
Telecommunication Services |
42,588,103 |
16,995,029 |
25,593,074 |
- |
Utilities |
30,192,720 |
29,022,290 |
1,170,430 |
- |
Government Obligations |
899,998 |
- |
899,998 |
- |
Preferred Securities |
1,635,393 |
- |
1,635,393 |
- |
Money Market Funds |
59,235,222 |
59,235,222 |
- |
- |
Total Investments in Securities: |
$ 1,532,775,135 |
$ 1,224,555,625 |
$ 307,052,632 |
$ 1,166,878 |
The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing: |
Transfers |
Total |
Level 1 to Level 2 |
$ 15,936,096 |
Level 2 to Level 1 |
$ 0 |
Income Tax Information |
At January 31, 2015, the cost of investment securities for income tax purposes was $1,333,694,574. Net unrealized appreciation aggregated $199,080,561, of which $238,996,528 related to appreciated investment securities and $39,915,967 related to depreciated investment securities. |
Investment Valuation |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows: |
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. |
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. |
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly Report
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general
information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent
prospectus and annual report. |
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, 2015 |
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, 2015 |
By: |
/s/Howard J. Galligan III |
|
Howard J. Galligan III |
|
Chief Financial Officer |
|
|
Date: |
April 1, 2015 |
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, 2015
/s/Kenneth B. Robins |
Kenneth B. Robins |
President and Treasurer |
I, Howard J. Galligan III, 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, 2015
/s/Howard J. Galligan III |
Howard J. Galligan III |
Chief Financial Officer |