0001379491-17-001856.txt : 20170331 0001379491-17-001856.hdr.sgml : 20170331 20170331084626 ACCESSION NUMBER: 0001379491-17-001856 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170131 FILED AS OF DATE: 20170331 DATE AS OF CHANGE: 20170331 EFFECTIVENESS DATE: 20170331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04008 FILM NUMBER: 17728136 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228 0000744822 S000007093 Fidelity International Discovery Fund C000019407 Fidelity International Discovery Fund FIGRX C000019408 Fidelity Advisor International Discovery Fund: Class A FAIDX C000019410 Fidelity Advisor International Discovery Fund: Class C FCADX C000019411 Fidelity Advisor International Discovery Fund: Class M FTADX C000019412 Fidelity Advisor International Discovery Fund: Class I FIADX C000064259 Class K FIDKX C000130141 Fidelity Advisor International Discovery Fund: Class Z FZAIX 0000744822 S000007094 Fidelity Europe Fund C000019413 Fidelity Europe Fund FIEUX C000136832 Fidelity Advisor Europe Fund: Class A FHJUX C000136834 Fidelity Advisor Europe Fund: Class C FHJTX C000136835 Fidelity Advisor Europe Fund: Class M FHJVX C000136836 Fidelity Advisor Europe Fund: Class I FHJMX 0000744822 S000007096 Fidelity Japan Fund C000019415 Fidelity Japan Fund FJPNX C000093326 Fidelity Advisor Japan Fund: Class A FPJAX C000093328 Fidelity Advisor Japan Fund: Class C FJPCX C000093329 Fidelity Advisor Japan Fund: Class M FJPTX C000093330 Fidelity Advisor Japan Fund: Class I FJPIX 0000744822 S000007097 Fidelity Japan Smaller Companies Fund C000019416 Fidelity Japan Smaller Companies Fund FJSCX 0000744822 S000007098 Fidelity Latin America Fund C000019417 Fidelity Latin America Fund FLATX C000092709 Fidelity Advisor Latin America Fund: Class A FLFAX C000092711 Fidelity Advisor Latin America Fund: Class C FLFCX C000092712 Fidelity Advisor Latin America Fund: Class M FLFTX C000092713 Fidelity Advisor Latin America Fund: Class I FLFIX 0000744822 S000007099 Fidelity Nordic Fund C000019418 Fidelity Nordic Fund FNORX 0000744822 S000007100 Fidelity Overseas Fund C000019419 Fidelity Overseas Fund FOSFX C000064260 Class K FOSKX 0000744822 S000007101 Fidelity Pacific Basin Fund C000019420 Fidelity Pacific Basin Fund FPBFX 0000744822 S000007102 Fidelity Emerging Asia Fund C000019421 Fidelity Emerging Asia Fund FSEAX 0000744822 S000007103 Fidelity Worldwide Fund C000019422 Fidelity Worldwide Fund FWWFX C000074282 Fidelity Advisor Worldwide Fund: Class A FWAFX C000074284 Fidelity Advisor Worldwide Fund: Class C FWCFX C000074285 Fidelity Advisor Worldwide Fund: Class M FWTFX C000074286 Fidelity Advisor Worldwide Fund: Class I FWIFX 0000744822 S000007104 Fidelity International Small Cap Fund C000019423 Fidelity International Small Cap Fund FISMX C000019424 Fidelity Advisor International Small Cap Fund: Class A FIASX C000019426 Fidelity Advisor International Small Cap Fund: Class C FICSX C000019427 Fidelity Advisor International Small Cap Fund: Class M FTISX C000019428 Fidelity Advisor International Small Cap Fund: Class I FIXIX 0000744822 S000007105 Fidelity International Small Cap Opportunities Fund C000019429 Fidelity International Small Cap Opportunities Fund FSCOX C000019430 Fidelity Advisor International Small Cap Opportunities Fund: Class A FOPAX C000019432 Fidelity Advisor International Small Cap Opportunities Fund: Class C FOPCX C000019433 Fidelity Advisor International Small Cap Opportunities Fund: Class M FOPTX C000019434 Fidelity Advisor International Small Cap Opportunities Fund: Class I FOPIX 0000744822 S000007106 Fidelity International Capital Appreciation Fund C000019435 Fidelity International Capital Appreciation Fund FIVFX 0000744822 S000007107 Fidelity Canada Fund C000019436 Fidelity Canada Fund FICDX C000047986 Fidelity Advisor Canada Fund: Class A FACNX C000047988 Fidelity Advisor Canada Fund: Class C FCCNX C000047989 Fidelity Advisor Canada Fund: Class M FTCNX C000047990 Fidelity Advisor Canada Fund: Class I FICCX 0000744822 S000007108 Fidelity China Region Fund C000019437 Fidelity China Region Fund FHKCX C000064261 Fidelity Advisor China Region Fund: Class A FHKAX C000064263 Fidelity Advisor China Region Fund: Class C FCHKX C000064264 Fidelity Advisor China Region Fund: Class M FHKTX C000064265 Fidelity Advisor China Region Fund: Class I FHKIX 0000744822 S000007109 Fidelity Diversified International Fund C000019438 Fidelity Diversified International Fund FDIVX C000064266 Class K FDIKX 0000744822 S000007110 Fidelity Emerging Markets Fund C000019439 Fidelity Emerging Markets Fund FEMKX C000064267 Class K FKEMX 0000744822 S000012165 Fidelity International Value Fund C000033179 Fidelity International Value Fund FIVLX C000033180 Fidelity Advisor International Value Fund: Class A FIVMX C000033182 Fidelity Advisor International Value Fund: Class C FIVOX C000033183 Fidelity Advisor International Value Fund: Class M FIVPX C000033184 Fidelity Advisor International Value Fund: Class I FIVQX 0000744822 S000019397 Fidelity International Growth Fund C000053902 Fidelity International Growth Fund FIGFX C000053903 Fidelity Advisor International Growth Fund: Class A FIAGX C000053905 Fidelity Advisor International Growth Fund: Class C FIGCX C000053906 Fidelity Advisor International Growth Fund: Class M FITGX C000053907 Fidelity Advisor International Growth Fund: Class I FIIIX C000130142 Fidelity Advisor International Growth Fund: Class Z FZAJX 0000744822 S000019398 Fidelity Total International Equity Fund C000053908 Fidelity Advisor Total International Equity Fund: Class C FTCEX C000053909 Fidelity Advisor Total International Equity Fund: Class M FTTEX C000053910 Fidelity Advisor Total International Equity Fund: Class I FTEIX C000053911 Fidelity Total International Equity Fund FTIEX C000053912 Fidelity Advisor Total International Equity Fund: Class A FTAEX 0000744822 S000022100 Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund C000063412 Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund FEMEX C000063413 Fidelity Advisor Emerging Europe, Middle East, Africa (EMEA) Fund: Class A FMEAX C000063415 Fidelity Advisor Emerging Europe, Middle East, Africa (EMEA) Fund: Class C FEMCX C000063416 Fidelity Advisor Emerging Europe, Middle East, Africa (EMEA) Fund: Class M FEMTX C000063417 Fidelity Advisor Emerging Europe, Middle East, Africa (EMEA) Fund: Class I FIEMX 0000744822 S000023605 Fidelity Series Emerging Markets Fund C000069437 Fidelity Series Emerging Markets Fund FEMSX C000076784 Class F FEMFX 0000744822 S000024314 Fidelity Global Commodity Stock Fund C000071913 Fidelity Global Commodity Stock Fund FFGCX C000071914 Fidelity Advisor Global Commodity Stock Fund: Class A FFGAX C000071916 Fidelity Advisor Global Commodity Stock Fund: Class C FCGCX C000071917 Fidelity Advisor Global Commodity Stock Fund: Class M FFGTX C000071918 Fidelity Advisor Global Commodity Stock Fund: Class I FFGIX 0000744822 S000026866 Fidelity Series International Growth Fund C000080862 Fidelity Series International Growth Fund FIGSX C000080863 Class F FFIGX 0000744822 S000026867 Fidelity Series International Value Fund C000080864 Fidelity Series International Value Fund FINVX C000080865 Class F FFVNX 0000744822 S000026868 Fidelity Series International Small Cap Fund C000080866 Fidelity Series International Small Cap Fund FSTSX C000080867 Class F FFSTX 0000744822 S000034264 Fidelity Emerging Markets Discovery Fund C000105577 Fidelity Emerging Markets Discovery Fund FEDDX C000105578 Fidelity Advisor Emerging Markets Discovery Fund: Class A FEDAX C000105579 Fidelity Advisor Emerging Markets Discovery Fund: Class C FEDGX C000105580 Fidelity Advisor Emerging Markets Discovery Fund: Class M FEDTX C000105581 Fidelity Advisor Emerging Markets Discovery Fund: Class I FEDIX 0000744822 S000034265 Fidelity Total Emerging Markets Fund C000105582 Fidelity Advisor Total Emerging Markets Fund: Class I FTEJX C000105583 Fidelity Total Emerging Markets Fund FTEMX C000105584 Fidelity Advisor Total Emerging Markets Fund: Class A FTEDX C000105585 Fidelity Advisor Total Emerging Markets Fund: Class C FTEFX C000105586 Fidelity Advisor Total Emerging Markets Fund: Class M FTEHX 0000744822 S000036874 Fidelity Global Equity Income Fund C000112814 Fidelity Global Equity Income Fund FGILX N-Q 1 filing918.htm PRIMARY DOCUMENT

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)


Marc Bryant, 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, 2017


Item 1.

Schedule of Investments




Quarterly Holdings Report
for

Fidelity® Total Emerging Markets Fund

January 31, 2017







TEK-QTLY-0317
1.931232.105





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 57.5%   
 Shares Value 
Argentina - 0.3%   
Grupo Superveille SA sponsored ADR 6,300 $92,799 
Telecom Argentina SA Class B sponsored ADR 12,934 249,626 
YPF SA Class D sponsored ADR 17,100 370,557 
TOTAL ARGENTINA  712,982 
Australia - 0.0%   
Frontier Digital Ventures Ltd. 113,377 38,693 
Austria - 0.3%   
Erste Group Bank AG 21,275 646,273 
Bermuda - 0.8%   
AGTech Holdings Ltd. (a) 728,000 134,228 
Credicorp Ltd. (United States) 2,460 402,653 
GP Investments Ltd. Class A (depositary receipt) (a) 22,922 47,428 
PAX Global Technology Ltd. 327,460 228,201 
Shangri-La Asia Ltd. 724,000 805,298 
VimpelCom Ltd. sponsored ADR 52,760 223,175 
TOTAL BERMUDA  1,840,983 
Brazil - 2.4%   
B2W Companhia Global do Varejo (a) 151,540 577,094 
BB Seguridade Participacoes SA 66,170 586,083 
BR Malls Participacoes SA 118,360 551,027 
Cielo SA 41,028 344,906 
Companhia de Saneamento de Minas Gerais 37,896 519,054 
Cosan SA Industria e Comercio 19,935 254,763 
Direcional Engenharia SA 95,000 178,176 
FPC Par Corretora de Seguros 123,300 551,722 
Localiza Rent A Car SA 32,000 374,219 
Minerva SA (a) 126,600 482,519 
Smiles SA 69,600 1,148,551 
TOTAL BRAZIL  5,568,114 
British Virgin Islands - 0.1%   
Mail.Ru Group Ltd. GDR (Reg. S) (a) 18,116 328,805 
Canada - 0.4%   
Pacific Exploration and Production Corp. 551 23,776 
Pacific Exploration and Production Corp. Class D 450 19,418 
Pan American Silver Corp. 35,900 701,127 
Torex Gold Resources, Inc. (a) 12,130 257,282 
TOTAL CANADA  1,001,603 
Cayman Islands - 8.5%   
51job, Inc. sponsored ADR (a) 8,800 309,584 
58.com, Inc. ADR (a) 34,050 993,579 
Airtac International Group 21,000 174,717 
Alibaba Group Holding Ltd. sponsored ADR (a) 26,500 2,684,715 
Bitauto Holdings Ltd. ADR (a) 24,500 477,750 
BizLink Holding, Inc. 27,294 144,387 
China State Construction International Holdings Ltd. 216,000 350,990 
CK Hutchison Holdings Ltd. 16,710 200,272 
Ctrip.com International Ltd. ADR (a) 31,600 1,365,436 
Fang Holdings Ltd. ADR 47,200 179,832 
Haitian International Holdings Ltd. 138,000 280,725 
JD.com, Inc. sponsored ADR (a) 118,200 3,356,880 
Momo, Inc. ADR (a) 11,200 254,576 
NetEase, Inc. ADR 2,900 736,310 
Sino Biopharmaceutical Ltd. 714,000 560,403 
Sunny Optical Technology Group Co. Ltd. 68,000 398,447 
Tencent Holdings Ltd. 201,450 5,266,980 
Uni-President China Holdings Ltd. 1,004,600 767,579 
Vipshop Holdings Ltd. ADR (a) 79,500 899,940 
TOTAL CAYMAN ISLANDS  19,403,102 
Chile - 1.2%   
Compania Cervecerias Unidas SA sponsored ADR 26,800 605,412 
CorpBanca SA 44,292,750 362,701 
Enersis SA 2,509,827 448,892 
Inversiones La Construccion SA 26,839 349,674 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 16,700 539,744 
Vina Concha y Toro SA 335,968 546,500 
TOTAL CHILE  2,852,923 
China - 4.2%   
Anhui Conch Cement Co. Ltd. (H Shares) 150,500 484,304 
BBMG Corp. (H Shares) 1,519,000 582,931 
China Life Insurance Co. Ltd. (H Shares) 371,834 1,024,249 
China Longyuan Power Grid Corp. Ltd. (H Shares) 366,960 299,740 
China Oilfield Services Ltd. (H Shares) 106,000 113,073 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 280,106 994,939 
China Petroleum & Chemical Corp. (H Shares) 552,000 436,040 
China Telecom Corp. Ltd. (H Shares) 904,449 427,025 
Hangzhou Hikvision Digital Technology Co. Ltd. Class A 21,600 82,016 
Industrial & Commercial Bank of China Ltd. (H Shares) 3,142,160 1,921,070 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 77,371 206,985 
Kweichow Moutai Co. Ltd. (A Shares) 8,552 428,019 
Maanshan Iron & Steel Ltd. (H Shares) (a) 640,000 234,536 
PICC Property & Casualty Co. Ltd. (H Shares) 320,580 484,605 
Qingdao Haier Co. Ltd. 520,282 764,359 
Shanghai International Airport Co. Ltd. (A Shares) 71,486 285,668 
Tsingtao Brewery Co. Ltd. (H Shares) 142,000 567,007 
Zhengzhou Yutong Bus Co. Ltd. 102,854 302,808 
TOTAL CHINA  9,639,374 
Colombia - 0.2%   
Bancolombia SA sponsored ADR 13,535 512,435 
Czech Republic - 0.2%   
MONETA Money Bank A/S 132,000 435,588 
Egypt - 0.1%   
Global Telecom Holding GDR (a) 64,860 117,397 
Greece - 0.2%   
Titan Cement Co. SA (Reg.) 24,000 539,145 
Hong Kong - 3.0%   
AIA Group Ltd. 50,320 311,549 
China Mobile Ltd. 43,950 494,553 
China Mobile Ltd. sponsored ADR 32,728 1,865,496 
China Resources Beer Holdings Co. Ltd. (a) 460,666 935,665 
China Resources Power Holdings Co. Ltd. 161,809 277,905 
China Unicom Ltd. sponsored ADR 18,900 226,233 
CNOOC Ltd. 1,117,000 1,394,859 
Far East Horizon Ltd. 1,092,980 996,392 
Sinotruk Hong Kong Ltd. 412,000 308,916 
TOTAL HONG KONG  6,811,568 
India - 5.0%   
ACC Ltd. 6,130 128,338 
Adani Ports & Special Economic Zone 138,194 600,447 
Axis Bank Ltd. 70,444 486,216 
Bharti Infratel Ltd. 64,336 279,966 
Coal India Ltd. 131,884 603,992 
Edelweiss Financial Services Ltd. 153,596 250,590 
Eicher Motors Ltd. 1,179 402,141 
ICICI Bank Ltd. 71,446 285,174 
ICICI Bank Ltd. sponsored ADR 31,800 246,450 
ITC Ltd. 158,678 606,603 
JK Cement Ltd. 20,686 221,490 
Larsen & Toubro Ltd. 25,907 554,958 
LIC Housing Finance Ltd. 57,615 472,381 
Lupin Ltd. 44,601 971,557 
Petronet LNG Ltd. 77,094 427,006 
Phoenix Mills Ltd. 69,706 357,022 
Power Grid Corp. of India Ltd. 341,502 1,048,052 
Reliance Industries Ltd. 85,432 1,322,573 
SREI Infrastructure Finance Ltd. 116,223 149,851 
State Bank of India 201,973 778,844 
Sun Pharmaceutical Industries Ltd. 98,046 917,071 
Tata Consultancy Services Ltd. 11,125 367,422 
TOTAL INDIA  11,478,144 
Indonesia - 1.1%   
PT Astra International Tbk 1,410,000 839,506 
PT Bank Mandiri (Persero) Tbk 741,050 604,939 
PT Bank Rakyat Indonesia Tbk 862,100 757,021 
PT Kalbe Farma Tbk 1,755,800 190,669 
PT Link Net Tbk 500,500 187,418 
TOTAL INDONESIA  2,579,553 
Israel - 0.3%   
Bezeq The Israel Telecommunication Corp. Ltd. 357,955 624,834 
Japan - 0.8%   
Alps Electric Co. Ltd. 8,300 221,632 
Nexon Co. Ltd. 11,900 181,488 
Nissha Printing Co. Ltd. 7,300 200,425 
Rakuten, Inc. 25,962 259,252 
Sony Corp. 8,600 260,389 
Sumco Corp. 31,700 497,216 
Suzuki Motor Corp. 5,500 212,820 
TOTAL JAPAN  1,833,222 
Korea (South) - 7.2%   
AMOREPACIFIC Group, Inc. 3,207 377,332 
Daou Technology, Inc. 27,259 420,139 
Duk San Neolux Co. Ltd. (a) 3,115 71,679 
EO Technics Co. Ltd. 1,264 93,293 
Fila Korea Ltd. 6,383 381,328 
Hanon Systems 33,927 267,790 
Hyundai Fire & Marine Insurance Co. Ltd. 18,506 483,687 
Hyundai Glovis Co. Ltd. 2,593 350,121 
Hyundai Mobis 6,131 1,288,344 
InterPark INT Corp. 22,128 175,812 
KB Financial Group, Inc. 41,658 1,701,023 
KEPCO Plant Service & Engineering Co. Ltd. 5,009 237,916 
Korea Electric Power Corp. 14,118 520,398 
Korea Express Co. Ltd. (a) 2,115 299,353 
Korean Reinsurance Co. 58,089 547,279 
KT Corp. 4,885 124,752 
KT Corp. sponsored ADR (b) 1,930 28,699 
LG Chemical Ltd. 1,937 440,673 
LG Display Co. Ltd. 4,444 118,306 
Samsung Electronics Co. Ltd. 2,954 5,060,841 
Samsung Fire & Marine Insurance Co. Ltd. 843 196,909 
Samsung Life Insurance Co. Ltd. 5,965 574,935 
Samsung SDI Co. Ltd. 6,639 665,840 
Shinhan Financial Group Co. Ltd. 39,028 1,555,515 
Shinhan Financial Group Co. Ltd. sponsored ADR 400 15,816 
SK Telecom Co. Ltd. 152 29,433 
SK Telecom Co. Ltd. sponsored ADR 16,184 347,956 
Viatron Technologies, Inc. 5,775 113,079 
TOTAL KOREA (SOUTH)  16,488,248 
Mauritius - 0.2%   
MakeMyTrip Ltd. (a) 11,500 384,100 
Mexico - 3.0%   
America Movil S.A.B. de CV Series L sponsored ADR 21,073 265,731 
Banregio Grupo Financiero S.A.B. de CV 34,980 194,262 
CEMEX S.A.B. de CV sponsored ADR 112,088 1,037,935 
El Puerto de Liverpool S.A.B. de CV Class C 10,300 64,990 
Fibra Uno Administracion SA de CV 269,460 385,321 
Gruma S.A.B. de CV Series B 64,840 872,379 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 53,200 412,186 
Grupo Comercial Chedraui S.A.B. de CV 87,376 160,938 
Grupo Financiero Banorte S.A.B. de CV Series O 177,129 848,972 
Infraestructura Energetica Nova S.A.B. de CV 98,900 436,557 
Macquarie Mexican (REIT) 734,170 722,781 
Promotora y Operadora de Infraestructura S.A.B. de CV 30,245 263,689 
Tenedora Nemak SA de CV 544,467 505,995 
Wal-Mart de Mexico SA de CV Series V 460,900 815,557 
TOTAL MEXICO  6,987,293 
Netherlands - 0.6%   
Altice NV Class B (a) 10,746 236,414 
Hangzhou Hikvision Digital Technology Co. Ltd. ELS (BNP Paribas Warrant Program) warrants 9/29/17 (a)(c) 66,550 252,694 
X5 Retail Group NV GDR (Reg. S) (a) 3,100 104,005 
Yandex NV Series A (a) 36,067 834,590 
TOTAL NETHERLANDS  1,427,703 
Nigeria - 0.1%   
Guaranty Trust Bank PLC 476,923 36,999 
Guaranty Trust Bank PLC GDR (Reg. S) 23,480 82,180 
Transnational Corp. of Nigeria PLC 6,036,239 15,807 
Zenith Bank PLC 3,605,933 185,313 
TOTAL NIGERIA  320,299 
Pakistan - 0.3%   
Habib Bank Ltd. 315,000 784,096 
Panama - 0.1%   
Copa Holdings SA Class A 2,449 238,753 
Philippines - 0.5%   
Metropolitan Bank & Trust Co. 370,201 607,321 
Robinsons Land Corp. 843,380 426,108 
TOTAL PHILIPPINES  1,033,429 
Romania - 0.1%   
Banca Transilvania SA 391,013 221,593 
Russia - 3.9%   
Lukoil PJSC sponsored ADR 31,200 1,750,632 
Magnit OJSC GDR (Reg. S) 10,500 384,300 
MegaFon PJSC (a) 14,600 153,585 
MegaFon PJSC GDR 8,020 87,017 
MMC Norilsk Nickel PJSC sponsored ADR 54,900 887,733 
Mobile TeleSystems OJSC 81,882 375,029 
Mobile TeleSystems OJSC sponsored ADR 3,400 35,598 
NOVATEK OAO GDR (Reg. S) 8,500 1,076,100 
Rosneft Oil Co. OJSC 81,300 541,414 
RusHydro PJSC (a) 5,815,700 99,937 
Sberbank of Russia 410,130 1,172,291 
Sberbank of Russia sponsored ADR 154,884 1,805,947 
Sistema JSFC 620,100 246,422 
Sistema JSFC sponsored GDR 7,260 69,478 
Unipro PJSC 6,832,700 320,991 
TOTAL RUSSIA  9,006,474 
Singapore - 0.3%   
Ascendas Real Estate Investment Trust (a) 174,790 305,093 
First Resources Ltd. 260,700 357,009 
TOTAL SINGAPORE  662,102 
South Africa - 4.2%   
Alexander Forbes Group Holdings Ltd. 361,576 191,857 
Aspen Pharmacare Holdings Ltd. 25,169 575,291 
Barclays Africa Group Ltd. 32,275 380,378 
Bidcorp Ltd. 19,256 331,889 
Bidvest Group Ltd. 36,856 433,684 
FirstRand Ltd. 181,000 674,301 
Imperial Holdings Ltd. 45,229 559,900 
JSE Ltd. 17,210 206,060 
Life Healthcare Group Holdings Ltd. 169,400 422,400 
Naspers Ltd. Class N 31,531 5,023,266 
Nedbank Group Ltd. 22,480 387,390 
Telkom SA Ltd. 65,302 356,823 
TOTAL SOUTH AFRICA  9,543,239 
Taiwan - 4.6%   
Advantech Co. Ltd. 69,000 586,236 
Boardtek Electronics Corp. 103,000 99,069 
Chroma ATE, Inc. 68,000 178,554 
E.SUN Financial Holdings Co. Ltd. 737,200 436,073 
eMemory Technology, Inc. 8,995 115,356 
GlobalWafers Co. Ltd. 65,000 298,007 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 131,000 351,540 
King's Town Bank 99,600 91,328 
Largan Precision Co. Ltd. 15,403 2,197,571 
MediaTek, Inc. 66,000 451,772 
Taiwan Cement Corp. 643,000 729,780 
Taiwan Fertilizer Co. Ltd. 147,000 191,818 
Taiwan Semiconductor Manufacturing Co. Ltd. 582,000 3,485,347 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 4,642 143,484 
Universal Cement Corp. 224,320 176,922 
Vanguard International Semiconductor Corp. 111,000 200,359 
Wistron NeWeb Corp. 56,780 162,746 
Yuanta Financial Holding Co. Ltd. 1,489,231 592,054 
TOTAL TAIWAN  10,488,016 
Thailand - 1.2%   
Delta Electronics PCL (For. Reg.) 21,600 52,758 
Kasikornbank PCL (For. Reg.) 187,680 1,002,350 
PTT Global Chemical PCL (For. Reg.) 317,000 611,743 
PTT PCL (For. Reg.) 67,200 773,305 
Star Petroleum Refining PCL 754,400 266,455 
TOTAL THAILAND  2,706,611 
Turkey - 0.7%   
Aselsan A/S 83,000 300,486 
Bim Birlesik Magazalar A/S JSC 34,000 485,244 
Enka Insaat ve Sanayi A/S 139,550 212,294 
Tupras Turkiye Petrol Rafinelleri A/S 32,200 699,360 
TOTAL TURKEY  1,697,384 
United Arab Emirates - 1.0%   
DP World Ltd. 23,441 443,035 
Emaar Properties PJSC 464,773 940,201 
First Gulf Bank PJSC 240,046 846,360 
TOTAL UNITED ARAB EMIRATES  2,229,596 
United Kingdom - 0.4%   
Fresnillo PLC 19,400 354,608 
Mondi PLC 21,200 466,985 
TOTAL UNITED KINGDOM  821,593 
TOTAL COMMON STOCKS   
(Cost $121,884,911)  132,005,267 
Nonconvertible Preferred Stocks - 4.8%   
Brazil - 4.0%   
Ambev SA sponsored ADR 205,200 1,106,028 
Banco do Estado Rio Grande do Sul SA 88,820 443,945 
Companhia Paranaense de Energia-Copel:   
(PN-B) 1,415 14,437 
(PN-B) sponsored ADR 49,352 503,884 
Fibria Celulose SA sponsored ADR 51,100 471,142 
Itau Unibanco Holding SA sponsored ADR 242,241 2,860,866 
Metalurgica Gerdau SA (PN) (a) 334,870 597,242 
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) (a) 134,806 1,282,005 
Telefonica Brasil SA 40,543 600,470 
Vale SA (PN-A) sponsored ADR 122,600 1,187,994 
TOTAL BRAZIL  9,068,013 
Korea (South) - 0.8%   
Hyundai Motor Co. Series 2 5,451 453,921 
Samsung Electronics Co. Ltd. 844 1,151,340 
Samsung Fire & Marine Insurance Co. Ltd. 1,782 287,810 
TOTAL KOREA (SOUTH)  1,893,071 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $8,955,200)  10,961,084 
 Principal Amount(d) Value 
Nonconvertible Bonds - 8.6%   
Azerbaijan - 0.5%   
International Bank of Azerbaijan OJSC 5.625% 6/11/19 (Reg. S) 400,000 400,748 
Southern Gas Corridor CJSC 6.875% 3/24/26 (c) 525,000 567,326 
State Oil Co. of Azerbaijan Republic 6.95% 3/18/30 (Reg. S) 275,000 289,850 
TOTAL AZERBAIJAN  1,257,924 
Canada - 0.2%   
First Quantum Minerals Ltd.:   
7% 2/15/21 (c) 250,000 256,250 
7.25% 10/15/19 (c) 200,000 206,500 
Pacific Exploration and Production Corp. 10% 11/2/21 pay-in-kind (e) 18,000 20,160 
TOTAL CANADA  482,910 
Cayman Islands - 0.1%   
Odebrecht Finance Ltd. 4.375% 4/25/25 (c) 400,000 172,000 
Georgia - 0.5%   
Georgian Oil & Gas Corp. 6.75% 4/26/21 (c) 250,000 262,550 
JSC BGEO Group 6% 7/26/23 (c) 200,000 202,152 
JSC Georgian Railway 7.75% 7/11/22 (c) 600,000 652,740 
TOTAL GEORGIA  1,117,442 
Indonesia - 0.7%   
PT Pertamina Persero:   
4.875% 5/3/22 (c) 275,000 284,543 
5.625% 5/20/43 (c) 200,000 189,534 
6% 5/3/42 (c) 400,000 394,591 
6.5% 5/27/41 (c) 700,000 735,085 
TOTAL INDONESIA  1,603,753 
Ireland - 0.3%   
Vnesheconombank Via VEB Finance PLC:   
6.8% 11/22/25 (c) 425,000 466,438 
6.902% 7/9/20 (c) 200,000 217,500 
TOTAL IRELAND  683,938 
Kazakhstan - 0.4%   
Kazagro National Management Holding JSC 4.625% 5/24/23 (c) 400,000 379,462 
KazMunaiGaz Finance Sub BV:   
6.375% 4/9/21 (c) 250,000 272,355 
7% 5/5/20 (c) 200,000 219,718 
TOTAL KAZAKHSTAN  871,535 
Luxembourg - 0.4%   
Kernel Holding SA 8.75% 1/31/22 (c) 200,000 200,540 
Petrobras International Finance Co. Ltd. 8.375% 12/10/18 300,000 325,260 
RSHB Capital SA 5.1% 7/25/18 (c) 400,000 409,760 
TOTAL LUXEMBOURG  935,560 
Mexico - 1.0%   
Petroleos Mexicanos:   
4.6065% 3/11/22 (c)(e) 260,000 270,075 
5.5% 6/27/44 305,000 250,164 
6.375% 2/4/21 150,000 160,376 
6.375% 1/23/45 20,000 17,900 
6.5% 6/2/41 1,100,000 1,022,450 
6.75% 9/21/47 200,000 188,740 
6.875% 8/4/26 400,000 422,660 
TOTAL MEXICO  2,332,365 
Mongolia - 0.1%   
Trade & Development Bank of Mongolia LLC 9.375% 5/19/20 (Reg. S) 250,000 247,484 
Netherlands - 1.3%   
Petrobras Global Finance BV:   
6.85% 6/5/2115 965,000 810,890 
7.25% 3/17/44 205,000 192,290 
8.375% 5/23/21 325,000 362,375 
8.75% 5/23/26 1,425,000 1,605,120 
TOTAL NETHERLANDS  2,970,675 
South Africa - 0.1%   
Eskom Holdings SOC Ltd. 6.75% 8/6/23 (c) 300,000 303,072 
Trinidad & Tobago - 0.3%   
Petroleum Co. of Trinidad & Tobago Ltd.:   
6% 5/8/22 (c) 313,958 303,755 
9.75% 8/14/19 (c) 300,000 316,500 
TOTAL TRINIDAD & TOBAGO  620,255 
Tunisia - 0.2%   
Banque Centrale de Tunisie 5.75% 1/30/25 (c) 400,000 376,904 
Turkey - 0.1%   
Turkiye Ihracat Kredi Bankasi A/S 5.375% 10/24/23 (c) 200,000 189,904 
United Arab Emirates - 0.1%   
DP World Ltd. 6.85% 7/2/37 (Reg. S) 300,000 330,912 
United Kingdom - 0.3%   
Biz Finance PLC 9.625% 4/27/22 (c) 750,000 738,405 
United States of America - 0.6%   
Pemex Project Funding Master Trust:   
6.625% 6/15/35 1,075,000 1,051,565 
8.625% 2/1/22 300,000 341,250 
TOTAL UNITED STATES OF AMERICA  1,392,815 
Venezuela - 1.4%   
Petroleos de Venezuela SA:   
5.25% 4/12/17 700,000 654,500 
5.5% 4/12/37 500,000 190,000 
6% 11/15/26 (Reg. S) 2,450,000 930,143 
8.5% 11/2/17 (c) 250,000 217,875 
8.5% 10/27/20 (Reg. S) 600,000 465,000 
9% 11/17/21 (Reg. S) 550,000 313,500 
12.75% 2/17/22 (c) 600,000 397,500 
TOTAL VENEZUELA  3,168,518 
TOTAL NONCONVERTIBLE BONDS   
(Cost $19,736,735)  19,796,371 
Government Obligations - 18.9%   
Angola - 0.2%   
Angola Republic 9.5% 11/12/25 (c) 550,000 525,052 
Argentina - 1.2%   
Argentine Republic:   
6.625% 7/6/28 (c) 150,000 144,150 
6.875% 4/22/21 (c) 620,000 659,370 
6.875% 1/26/27 (c) 900,000 891,000 
7.5% 4/22/26 (c) 660,000 689,040 
8.28% 12/31/33 315,459 333,597 
TOTAL ARGENTINA  2,717,157 
Armenia - 0.4%   
Republic of Armenia:   
6% 9/30/20 (c) 325,000 335,992 
7.15% 3/26/25 (c) 600,000 628,524 
TOTAL ARMENIA  964,516 
Bahrain - 0.1%   
Bahrain Kingdom 6% 9/19/44 (Reg. S) 400,000 335,712 
Barbados - 0.3%   
Barbados Government 7% 8/4/22 (c) 650,000 597,714 
Belarus - 0.4%   
Belarus Republic 8.95% 1/26/18 800,000 821,760 
Brazil - 0.6%   
Brazilian Federative Republic:   
5% 1/27/45 200,000 171,000 
5.625% 2/21/47 200,000 186,000 
7.125% 1/20/37 200,000 219,500 
8.25% 1/20/34 500,000 600,000 
12.25% 3/6/30 100,000 157,500 
TOTAL BRAZIL  1,334,000 
Cameroon - 0.5%   
Cameroon Republic 9.5% 11/19/25 (c) 1,100,000 1,184,678 
Colombia - 0.2%   
Colombian Republic:   
6.125% 1/18/41 100,000 110,750 
7.375% 9/18/37 250,000 310,000 
TOTAL COLOMBIA  420,750 
Congo - 0.0%   
Congo Republic 4% 6/30/29 (f) 11,828 7,570 
Costa Rica - 0.5%   
Costa Rican Republic:   
4.375% 4/30/25 (c) 225,000 206,438 
7.158% 3/12/45 (c) 900,000 875,502 
TOTAL COSTA RICA  1,081,940 
Croatia - 0.3%   
Croatia Republic 6% 1/26/24 (c) 650,000 711,373 
Dominican Republic - 0.5%   
Dominican Republic:   
5.95% 1/25/27 (c) 125,000 125,000 
6.6% 1/28/24 (c) 725,000 775,750 
6.85% 1/27/45 (c) 200,000 196,664 
TOTAL DOMINICAN REPUBLIC  1,097,414 
Ecuador - 0.3%   
Ecuador Republic:   
7.95% 6/20/24 (c) 200,000 198,000 
9.65% 12/13/26 (c) 200,000 211,000 
10.75% 3/28/22 (c) 200,000 224,500 
TOTAL ECUADOR  633,500 
Egypt - 0.6%   
Arab Republic 5.875% 6/11/25 (c) 200,000 184,130 
Arab Republic of Egypt:   
6.125% 1/31/22 (c) 400,000 403,596 
7.5% 1/31/27 (c) 200,000 200,282 
8.5% 1/31/47 (c) 500,000 510,680 
TOTAL EGYPT  1,298,688 
El Salvador - 0.3%   
El Salvador Republic:   
6.375% 1/18/27 (c) 400,000 351,000 
7.625% 2/1/41 (c) 450,000 386,438 
TOTAL EL SALVADOR  737,438 
Ethiopia - 0.2%   
Federal Democratic Republic of Ethiopia 6.625% 12/11/24 (c) 600,000 540,000 
Gabon - 0.3%   
Gabonese Republic:   
6.375% 12/12/24 (c) 200,000 183,602 
6.95% 6/16/25 (c) 550,000 509,526 
TOTAL GABON  693,128 
Ghana - 0.7%   
Ghana Republic:   
7.875% 8/7/23 (Reg.S) 400,000 390,520 
9.25% 9/15/22 (c) 550,000 581,064 
10.75% 10/14/30 (c) 600,000 707,100 
TOTAL GHANA  1,678,684 
Indonesia - 0.4%   
Indonesian Republic:   
8.25% 7/15/21 IDR8,000,000,000 616,514 
8.5% 10/12/35 (c) 200,000 277,626 
TOTAL INDONESIA  894,140 
Iraq - 0.3%   
Republic of Iraq 5.8% 1/15/28 (Reg. S) 750,000 622,035 
Ivory Coast - 0.2%   
Ivory Coast 5.375% 7/23/24 (c) 400,000 379,000 
Jamaica - 0.1%   
Jamaican Government 8% 3/15/39 200,000 224,006 
Jordan - 0.2%   
Jordanian Kingdom 5.75% 1/31/27 (c) 600,000 571,884 
Kenya - 0.3%   
Republic of Kenya 6.875% 6/24/24 (c) 700,000 675,535 
Lebanon - 1.7%   
Lebanese Republic:   
4% 12/31/17 197,000 195,779 
5% 10/12/17 275,000 275,985 
5.15% 6/12/18 1,400,000 1,408,820 
5.15% 11/12/18 100,000 100,072 
5.45% 11/28/19 700,000 696,248 
6% 5/20/19 675,000 681,588 
6.1% 10/4/22 300,000 296,904 
6.375% 3/9/20 275,000 279,411 
TOTAL LEBANON  3,934,807 
Mexico - 0.5%   
United Mexican States 10% 12/5/24 MXN21,000,000 1,164,875 
Mongolia - 0.3%   
Mongolian People's Republic:   
4.125% 1/5/18 (Reg. S) 400,000 387,528 
5.125% 12/5/22 (Reg. S) 400,000 346,750 
TOTAL MONGOLIA  734,278 
Netherlands - 0.1%   
Republic of Angola 7% 8/16/19 (Issued by Northern Lights III BV for Republic of Angola) (Reg. S) 343,750 350,467 
Oman - 0.2%   
Sultanate of Oman 4.75% 6/15/26 (c) 400,000 384,000 
Pakistan - 0.2%   
Islamic Republic of Pakistan:   
7.25% 4/15/19 (c) 200,000 213,926 
8.25% 4/15/24 (c) 200,000 221,754 
TOTAL PAKISTAN  435,680 
Qatar - 0.2%   
State of Qatar 9.75% 6/15/30 (Reg. S) 375,000 588,375 
Russia - 0.6%   
Ministry of Finance Russian Federation 4.75% 5/27/26 (c) 200,000 206,544 
Russian Federation:   
5.625% 4/4/42 (c) 200,000 216,716 
6.7% 5/15/19 RUB12,540,000 202,625 
12.75% 6/24/28 (Reg. S) 425,000 729,725 
TOTAL RUSSIA  1,355,610 
Rwanda - 0.4%   
Republic of Rwanda 6.625% 5/2/23 (c) 1,025,000 1,014,463 
Saudi Arabia - 0.5%   
Saudi Arabia Kingdom of:   
2.375% 10/26/21 (c) 415,000 404,210 
4.5% 10/26/46 (c) 760,000 743,443 
TOTAL SAUDI ARABIA  1,147,653 
Senegal - 0.2%   
Republic of Senegal 8.75% 5/13/21 (c) 400,000 442,288 
Serbia - 0.1%   
Republic of Serbia 4.875% 2/25/20 (c) 200,000 205,250 
South Africa - 0.1%   
South African Republic 5.875% 9/16/25 200,000 215,608 
Sri Lanka - 0.2%   
Democratic Socialist Republic of Sri Lanka:   
5.125% 4/11/19 (c) 200,000 202,987 
6.85% 11/3/25 (c) 250,000 249,725 
TOTAL SRI LANKA  452,712 
Suriname - 0.4%   
Republic of Suriname 9.25% 10/26/26 (c) 900,000 908,487 
Tanzania - 0.1%   
United Republic of Tanzania 7.2501% 3/9/20 (e) 155,556 163,663 
Turkey - 1.3%   
Turkish Republic:   
4.875% 10/9/26 400,000 372,752 
6% 3/25/27 300,000 302,461 
6.25% 9/26/22 850,000 888,939 
6.875% 3/17/36 250,000 258,750 
7% 6/5/20 450,000 485,100 
7.375% 2/5/25 100,000 110,212 
8% 2/14/34 250,000 286,875 
11.875% 1/15/30 165,000 247,290 
TOTAL TURKEY  2,952,379 
Ukraine - 0.8%   
Ukraine Government:   
0% 5/31/40 (c)(e) 430,000 127,001 
7.75% 9/1/19 (c) 900,000 895,050 
7.75% 9/1/20 (c) 800,000 782,496 
TOTAL UKRAINE  1,804,547 
United States of America - 0.9%   
U.S. Treasury Bills, yield at date of purchase 0.36% to 0.54% 2/2/17 to 4/27/17 (g) 910,000 909,439 
U.S. Treasury Bonds 2.875% 11/15/46 1,120,000 1,081,413 
TOTAL UNITED STATES OF AMERICA  1,990,852 
Venezuela - 0.8%   
Venezuelan Republic:   
7% 12/1/18 (Reg. S) 200,000 146,540 
7% 3/31/38 650,000 289,250 
7.75% 10/13/19 (Reg. S) 300,000 180,750 
9% 5/7/23 (Reg. S) 300,000 151,890 
9.25% 9/15/27 650,000 344,500 
9.25% 5/7/28 (Reg. S) 1,000,000 480,000 
12.75% 8/23/22 325,000 212,875 
TOTAL VENEZUELA  1,805,805 
Vietnam - 0.1%   
Vietnamese Socialist Republic 4.8% 11/19/24 (c) 300,000 302,277 
Zambia - 0.1%   
Republic of Zambia 8.97% 7/30/27 (c) 200,000 199,760 
TOTAL GOVERNMENT OBLIGATIONS   
(Cost $43,538,710)  43,301,510 
Preferred Securities - 0.0%   
Colombia - 0.0%   
Colombia Telecomunicacines SA 8.5%(c)(e)(h)   
(Cost $90,831) 100,000 93,601 
 Shares Value 
Money Market Funds - 13.5%   
Fidelity Cash Central Fund, 0.62% (i) 30,965,056 30,971,249 
Fidelity Securities Lending Cash Central Fund 0.65% (i)(j) 20,995 21,000 
TOTAL MONEY MARKET FUNDS   
(Cost $30,990,509)  30,992,249 
TOTAL INVESTMENT PORTFOLIO - 103.3%   
(Cost $225,196,896)  237,150,082 
NET OTHER ASSETS (LIABILITIES) - (3.3)%  (7,542,742) 
NET ASSETS - 100%  $229,607,340 

Futures Contracts    
 Expiration Date Underlying Face Amount at Value Unrealized Appreciation/(Depreciation) 
Purchased    
Equity Index Contracts    
228 ICE E-mini MSCI Emerging Markets Index Contracts (United States) March 2017 10,432,140 $423,611 

The face value of futures purchased as a percentage of Net Assets is 4.5%

Currency Abbreviations

IDR – Indonesian rupiah

MXN – Mexican peso

RUB – Russian ruble

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $32,910,916 or 14.3% of net assets.

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

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

 (f) 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.

 (g) 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 $586,694.

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

 (i) 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.

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


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 $25,221 
Fidelity Securities Lending Cash Central Fund 310 
Total $25,531 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $20,048,254 $13,959,301 $6,088,953 $-- 
Consumer Staples 10,140,970 7,870,719 2,270,251 -- 
Energy 11,355,328 9,411,356 1,943,972 -- 
Financials 33,419,230 24,275,244 9,143,986 -- 
Health Care 3,637,391 3,076,988 560,403 -- 
Industrials 7,681,774 6,540,871 1,140,903 -- 
Information Technology 30,158,330 20,526,821 9,631,509 -- 
Materials 10,915,151 9,613,380 1,301,771 -- 
Real Estate 3,687,553 3,687,553 -- -- 
Telecommunication Services 7,416,716 5,995,357 1,421,359 -- 
Utilities 4,505,654 3,928,009 577,645 -- 
Corporate Bonds 19,796,371 -- 19,796,371 -- 
Government Obligations 43,301,510 -- 43,301,510 -- 
Preferred Securities 93,601 -- 93,601 -- 
Money Market Funds 30,992,249 30,992,249 -- -- 
Total Investments in Securities: $237,150,082 $139,877,848 $97,272,234 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $423,611 $423,611 $-- $-- 
Total Assets $423,611 $423,611 $-- $-- 
Total Derivative Instruments: $423,611 $423,611 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $11,109,856 
Level 2 to Level 1 $678,190 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $225,890,682. Net unrealized appreciation aggregated $11,259,400, of which $18,253,939 related to appreciated investment securities and $6,994,539 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Japan Smaller Companies Fund

January 31, 2017







JSC-QTLY-0317
1.813017.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.9%   
 Shares Value 
CONSUMER DISCRETIONARY - 20.0%   
Auto Components - 4.5%   
Bridgestone Corp. 261,900 $9,609,881 
Hi-Lex Corp. 271,100 7,099,838 
Sumitomo Electric Industries Ltd. 644,500 9,404,072 
  26,113,791 
Automobiles - 1.5%   
Fuji Heavy Industries Ltd. 224,000 9,006,820 
Distributors - 3.3%   
Central Automotive Products Ltd. 885,000 9,060,845 
Chori Co. Ltd. 406,100 7,042,280 
PALTAC Corp. 129,400 3,347,599 
  19,450,724 
Diversified Consumer Services - 0.9%   
Asante, Inc. 357,500 5,430,099 
Hotels, Restaurants & Leisure - 1.5%   
KOMEDA Holdings Co. Ltd. 189,500 3,131,760 
Koshidaka Holdings Co. Ltd. 286,600 5,886,329 
  9,018,089 
Media - 1.7%   
Daiichikosho Co. Ltd. 242,900 9,648,450 
Specialty Retail - 5.5%   
Arc Land Sakamoto Co. Ltd. 611,700 7,492,526 
Fuji Corp. 303,300 5,439,576 
Nitori Holdings Co. Ltd. 110,600 12,361,812 
VT Holdings Co. Ltd. 1,487,400 7,232,155 
  32,526,069 
Textiles, Apparel & Luxury Goods - 1.1%   
Hagihara Industries, Inc. 282,800 6,539,640 
TOTAL CONSUMER DISCRETIONARY  117,733,682 
CONSUMER STAPLES - 9.9%   
Food & Staples Retailing - 3.2%   
Mitsubishi Shokuhin Co. Ltd. 342,300 10,201,395 
San-A Co. Ltd. 184,000 8,522,894 
  18,724,289 
Food Products - 5.3%   
Japan Meat Co. Ltd. 487,400 7,813,249 
Kotobuki Spirits Co. Ltd. (a) 444,000 10,739,208 
Morinaga & Co. Ltd. 121,700 5,259,906 
S Foods, Inc. (a) 282,700 7,674,037 
  31,486,400 
Tobacco - 1.4%   
Japan Tobacco, Inc. 253,000 8,156,231 
TOTAL CONSUMER STAPLES  58,366,920 
ENERGY - 2.0%   
Energy Equipment & Services - 0.9%   
Shinko Plantech Co. Ltd. 798,000 5,717,669 
Oil, Gas & Consumable Fuels - 1.1%   
San-Ai Oil Co. Ltd. 820,800 6,309,932 
TOTAL ENERGY  12,027,601 
FINANCIALS - 10.4%   
Banks - 4.0%   
Fukuoka Financial Group, Inc. 1,727,000 7,647,684 
Mitsubishi UFJ Financial Group, Inc. 1,314,600 8,418,070 
Shinsei Bank Ltd. 4,483,000 7,742,317 
  23,808,071 
Consumer Finance - 0.9%   
AEON Financial Service Co. Ltd. 291,600 5,221,993 
Diversified Financial Services - 3.5%   
Fuyo General Lease Co. Ltd. 190,300 9,472,022 
ORIX Corp. 731,800 11,063,525 
  20,535,547 
Insurance - 2.0%   
Tokio Marine Holdings, Inc. 274,500 11,501,723 
TOTAL FINANCIALS  61,067,334 
HEALTH CARE - 6.8%   
Health Care Equipment & Supplies - 2.4%   
Medikit Co. Ltd. 208,200 8,574,351 
Paramount Bed Holdings Co. Ltd. 138,900 5,585,032 
  14,159,383 
Health Care Providers & Services - 3.0%   
A/S One Corp. 241,000 11,099,105 
Miraca Holdings, Inc. 142,800 6,525,976 
  17,625,081 
Pharmaceuticals - 1.4%   
Astellas Pharma, Inc. 593,500 7,965,822 
TOTAL HEALTH CARE  39,750,286 
INDUSTRIALS - 23.6%   
Air Freight & Logistics - 0.9%   
AIT Corp. 525,400 5,076,711 
Airlines - 1.1%   
Japan Airlines Co. Ltd. 204,600 6,527,050 
Building Products - 2.9%   
Sekisui Jushi Corp. 581,300 9,272,175 
Sinko Industries Ltd. 621,300 7,769,689 
  17,041,864 
Commercial Services & Supplies - 2.7%   
Aeon Delight Co. Ltd. 281,300 8,084,479 
ProNexus, Inc. 849,900 7,948,759 
  16,033,238 
Construction & Engineering - 2.7%   
Hokuriku Electrical Construction Co. Ltd. 859,300 6,735,280 
Toshiba Plant Systems & Services Corp. 601,500 9,061,655 
  15,796,935 
Electrical Equipment - 2.0%   
Aichi Electric Co. Ltd. 190,100 4,079,464 
Denyo Co. Ltd. 543,100 7,926,922 
  12,006,386 
Machinery - 1.3%   
NGK Insulators Ltd. 399,000 7,845,009 
Marine - 0.9%   
Nippon Concept Corp. 490,000 5,181,649 
Professional Services - 3.1%   
Funai Soken Holdings, Inc. 414,320 6,425,244 
Meitec Corp. 80,900 3,041,542 
Yamada Consulting Group Co. Ltd. 190,600 8,490,993 
  17,957,779 
Trading Companies & Distributors - 4.5%   
Inaba Denki Sangyo Co. Ltd. 228,800 8,115,703 
Mitani Shoji Co. Ltd. 199,900 5,789,328 
Trusco Nakayama Corp. 288,500 6,556,470 
Yuasa Trading Co. Ltd. 220,800 5,974,174 
  26,435,675 
Transportation Infrastructure - 1.5%   
Kamigumi Co. Ltd. 924,000 8,985,493 
TOTAL INDUSTRIALS  138,887,789 
INFORMATION TECHNOLOGY - 10.5%   
Electronic Equipment & Components - 3.0%   
Amano Corp. 503,200 9,639,727 
Dexerials Corp. 731,500 8,046,435 
  17,686,162 
IT Services - 2.4%   
Otsuka Corp. 131,000 6,740,856 
TKC Corp. 238,200 7,193,889 
  13,934,745 
Software - 3.1%   
Broadleaf Co. Ltd. 624,000 3,879,621 
Oracle Corp. Japan 114,200 6,392,206 
SRA Holdings, Inc. 344,300 7,870,324 
  18,142,151 
Technology Hardware, Storage & Peripherals - 2.0%   
Elecom Co. Ltd. 693,500 11,774,329 
TOTAL INFORMATION TECHNOLOGY  61,537,387 
MATERIALS - 8.7%   
Chemicals - 8.7%   
C. Uyemura & Co. Ltd. 131,400 5,981,720 
Kuraray Co. Ltd. 721,700 11,454,135 
Lintec Corp. 458,000 10,242,228 
Mitsubishi Chemical Holdings Corp. 1,099,800 7,692,074 
Sakata INX Corp. 584,000 7,654,946 
SK Kaken Co. Ltd. 83,000 7,997,874 
  51,022,977 
REAL ESTATE - 1.9%   
Real Estate Management & Development - 1.9%   
Century21 Real Estate Japan Ltd. 275,400 3,763,548 
Daito Trust Construction Co. Ltd. 55,400 7,747,463 
  11,511,011 
TELECOMMUNICATION SERVICES - 0.5%   
Wireless Telecommunication Services - 0.5%   
KDDI Corp. 107,900 2,899,098 
UTILITIES - 3.6%   
Electric Utilities - 1.9%   
Hokuriku Electric Power Co., Inc. 384,600 3,872,909 
The Okinawa Electric Power Co., Inc. 324,175 7,493,550 
  11,366,459 
Gas Utilities - 1.7%   
Tokyo Gas Co. Ltd. 2,211,000 9,787,068 
TOTAL UTILITIES  21,153,527 
TOTAL COMMON STOCKS   
(Cost $470,486,489)  575,957,612 
Money Market Funds - 2.4%   
Fidelity Cash Central Fund, 0.62% (b) 6,323,120 6,324,384 
Fidelity Securities Lending Cash Central Fund 0.65% (b)(c) 7,901,124 7,902,705 
TOTAL MONEY MARKET FUNDS   
(Cost $14,225,360)  14,227,089 
TOTAL INVESTMENT PORTFOLIO - 100.3%   
(Cost $484,711,849)  590,184,701 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (1,948,786) 
NET ASSETS - 100%  $588,235,915 

Legend

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

 (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.


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 $12,506 
Fidelity Securities Lending Cash Central Fund 25,261 
Total $37,767 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $117,733,682 $117,733,682 $-- $-- 
Consumer Staples 58,366,920 58,366,920 -- -- 
Energy 12,027,601 12,027,601 -- -- 
Financials 61,067,334 52,649,264 8,418,070 -- 
Health Care 39,750,286 31,784,464 7,965,822 -- 
Industrials 138,887,789 138,887,789 -- -- 
Information Technology 61,537,387 61,537,387 -- -- 
Materials 51,022,977 51,022,977 -- -- 
Real Estate 11,511,011 11,511,011 -- -- 
Telecommunication Services 2,899,098 -- 2,899,098 -- 
Utilities 21,153,527 21,153,527 -- -- 
Money Market Funds 14,227,089 14,227,089 -- -- 
Total Investments in Securities: $590,184,701 $570,901,711 $19,282,990 $-- 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $497,789,572. Net unrealized appreciation aggregated $92,395,129, of which $103,910,824 related to appreciated investment securities and $11,515,695 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Worldwide Fund

January 31, 2017







WLD-QTLY-0317
1.813085.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.8%   
 Shares Value 
Australia - 0.9%   
Altium Ltd. 99,765 610,591 
Australia & New Zealand Banking Group Ltd. 155,719 3,459,070 
Bapcor Ltd. 591,831 2,459,669 
Magellan Financial Group Ltd. 81,493 1,452,401 
Ramsay Health Care Ltd. 65,163 3,301,231 
Spark Infrastructure Group unit 1,319,449 2,341,568 
TOTAL AUSTRALIA  13,624,530 
Austria - 0.4%   
Erste Group Bank AG 85,200 2,588,131 
Wienerberger AG 142,700 2,751,237 
TOTAL AUSTRIA  5,339,368 
Bailiwick of Jersey - 0.8%   
Glencore Xstrata PLC (a) 1,112,411 4,568,384 
Integrated Diagnostics Holdings PLC 15,400 39,501 
IWG PLC 416,421 1,308,072 
Randgold Resources Ltd. sponsored ADR (b) 13,010 1,105,069 
Shire PLC 38,100 2,121,248 
Wizz Air Holdings PLC (a) 34,000 761,769 
Wolseley PLC 34,027 2,107,302 
TOTAL BAILIWICK OF JERSEY  12,011,345 
Belgium - 0.5%   
Anheuser-Busch InBev SA NV 13,411 1,400,351 
KBC Groep NV 85,826 5,560,803 
TOTAL BELGIUM  6,961,154 
Bermuda - 1.3%   
IHS Markit Ltd. (a) 482,900 19,050,405 
Canada - 3.6%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 51,100 2,340,881 
Cenovus Energy, Inc. 179,000 2,443,066 
Constellation Software, Inc. 5,800 2,619,661 
First Quantum Minerals Ltd. 1,242,000 15,662,801 
Franco-Nevada Corp. 48,000 3,122,167 
Franco-Nevada Corp. 15,400 1,001,616 
PrairieSky Royalty Ltd. 1,030,999 24,165,587 
Suncor Energy, Inc. 39,400 1,222,043 
TOTAL CANADA  52,577,822 
Cayman Islands - 0.9%   
Alibaba Group Holding Ltd. sponsored ADR (a) 30,000 3,039,300 
Ctrip.com International Ltd. ADR (a) 47,600 2,056,796 
Goodbaby International Holdings Ltd. 5,171,000 2,248,011 
JD.com, Inc. sponsored ADR (a) 80,700 2,291,880 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 80,800 3,842,040 
TOTAL CAYMAN ISLANDS  13,478,027 
Chile - 0.2%   
Vina San Pedro SA 306,277,514 3,258,397 
China - 0.3%   
Kweichow Moutai Co. Ltd. (A Shares) 41,800 2,092,050 
Wuliangye Yibin Co. Ltd. Class A 332,300 1,786,650 
TOTAL CHINA  3,878,700 
Cyprus - 0.0%   
SPDI Secure Property Development & Investment PLC (a) 31,822 5,805 
Denmark - 0.6%   
DONG Energy A/S 6,800 257,353 
Nets A/S (c) 103,400 1,823,792 
NNIT A/S 110,402 2,908,922 
Novo Nordisk A/S Series B 73,680 2,662,777 
Novozymes A/S Series B 15,000 584,239 
TOTAL DENMARK  8,237,083 
Finland - 0.2%   
Sampo Oyj (A Shares) 53,500 2,477,506 
France - 3.7%   
ALTEN 31,000 2,309,051 
Altran Technologies SA 200,500 2,966,307 
Amundi SA 49,600 2,719,995 
Atos Origin SA 16,341 1,737,374 
AXA SA 157,800 3,878,292 
BNP Paribas SA 51,300 3,277,291 
Capgemini SA 35,800 2,912,757 
Cegedim SA (a) 35,010 983,004 
Dassault Aviation SA 1,400 1,613,086 
Havas SA 315,012 2,831,302 
Kering SA 3,000 713,118 
Maisons du Monde SA 84,200 2,374,603 
Rexel SA 98,400 1,710,718 
Rubis 20,500 1,724,793 
Societe Generale Series A 97,400 4,761,647 
Sodexo SA (b) 24,700 2,729,025 
SR Teleperformance SA 13,600 1,455,054 
Total SA 205,828 10,413,907 
VINCI SA 51,500 3,608,067 
TOTAL FRANCE  54,719,391 
Germany - 4.2%   
adidas AG 177,300 27,876,733 
Axel Springer Verlag AG 43,237 2,273,974 
Deutsche Borse AG (a) 9,362 861,459 
Deutsche Post AG 114,960 3,841,494 
Deutsche Telekom AG 112,300 1,966,037 
Fresenius SE & Co. KGaA 29,600 2,330,347 
Henkel AG & Co. KGaA 23,400 2,461,364 
KION Group AG 36,489 2,217,650 
Nexus AG 47,000 998,494 
ProSiebenSat.1 Media AG 53,500 2,275,962 
Rational AG 6,400 2,901,696 
SAP AG 94,092 8,604,734 
Scout24 Holding GmbH (a) 35,700 1,271,952 
Wirecard AG (b) 38,000 1,838,151 
TOTAL GERMANY  61,720,047 
Greece - 0.1%   
Ff Group (a) 59,300 1,134,334 
Hong Kong - 0.7%   
AIA Group Ltd. 983,600 6,089,815 
China Resources Beer Holdings Co. Ltd. (a) 880,666 1,788,733 
Techtronic Industries Co. Ltd. 577,000 1,995,618 
TOTAL HONG KONG  9,874,166 
India - 1.0%   
Bharti Infratel Ltd. 567,859 2,471,110 
Dr Lal Pathlabs Ltd. 46,973 776,378 
HDFC Bank Ltd. 65,958 1,419,670 
HDFC Bank Ltd. sponsored ADR 65,393 4,507,539 
Housing Development Finance Corp. Ltd. 245,946 4,975,566 
Lupin Ltd. 1,335 29,081 
TOTAL INDIA  14,179,344 
Indonesia - 0.2%   
PT Bank Central Asia Tbk 1,068,000 1,223,771 
PT Bank Rakyat Indonesia Tbk 2,121,200 1,862,653 
PT Kino Indonesia Tbk 234,500 52,160 
TOTAL INDONESIA  3,138,584 
Ireland - 2.1%   
Accenture PLC Class A 51,661 5,882,638 
Alkermes PLC (a) 167,636 9,070,784 
Cairn Homes PLC (a) 1,347,939 1,844,339 
CRH PLC 138,800 4,814,376 
Dalata Hotel Group PLC (a) 328,100 1,519,449 
Green REIT PLC 621,300 871,901 
Greencore Group PLC 357,541 1,061,496 
James Hardie Industries PLC CDI 119,520 1,874,517 
Kerry Group PLC Class A 29,800 2,094,208 
Ryanair Holdings PLC sponsored ADR (a) 16,770 1,402,978 
TOTAL IRELAND  30,436,686 
Isle of Man - 0.2%   
Paysafe Group PLC (a) 734,888 3,530,624 
Israel - 0.2%   
Frutarom Industries Ltd. 55,500 2,928,453 
Italy - 0.2%   
De Longhi SpA 94,700 2,358,415 
Intesa Sanpaolo SpA 277,400 651,574 
TOTAL ITALY  3,009,989 
Japan - 6.9%   
A/S One Corp. 61,700 2,841,555 
ACOM Co. Ltd. (a) 119,900 517,149 
Ain Holdings, Inc. 37,900 2,779,311 
Aozora Bank Ltd. 577,000 2,105,429 
Broadleaf Co. Ltd. 209,400 1,301,911 
Casio Computer Co. Ltd. 134,100 1,857,518 
Daiichikosho Co. Ltd. 46,200 1,835,152 
Daito Trust Construction Co. Ltd. 15,400 2,153,627 
Dentsu, Inc. 66,900 3,092,888 
Don Quijote Holdings Co. Ltd. 53,200 1,929,448 
Hoya Corp. 88,600 3,862,273 
Japan Tobacco, Inc. 10,800 348,171 
KDDI Corp. 214,000 5,749,834 
Keyence Corp. 10,120 3,932,020 
Komatsu Ltd. 103,400 2,448,369 
Misumi Group, Inc. 169,500 3,167,523 
Mitsubishi UFJ Financial Group, Inc. 693,000 4,437,641 
Monex Group, Inc. 840,700 2,226,280 
Morinaga & Co. Ltd. 37,000 1,599,150 
Nidec Corp. 19,300 1,813,595 
Nintendo Co. Ltd. 11,200 2,292,437 
Nitori Holdings Co. Ltd. 14,500 1,620,671 
Olympus Corp. 122,700 4,232,721 
OMRON Corp. 58,900 2,417,868 
ORIX Corp. 299,500 4,527,912 
Recruit Holdings Co. Ltd. 94,600 4,143,096 
Relo Holdings Corp. 11,400 1,674,006 
Shionogi & Co. Ltd. 55,300 2,657,006 
SMC Corp. 8,900 2,436,445 
SMS Co., Ltd. 73,400 1,759,104 
SoftBank Corp. 55,100 4,244,891 
Sony Corp. 181,700 5,501,467 
Start Today Co. Ltd. 135,900 2,555,271 
Sundrug Co. Ltd. 36,100 2,487,450 
Tsuruha Holdings, Inc. 36,300 3,407,847 
VT Holdings Co. Ltd. 280,200 1,362,411 
Welcia Holdings Co. Ltd. 61,400 3,376,973 
TOTAL JAPAN  100,696,420 
Kenya - 0.1%   
Safaricom Ltd. 6,251,600 1,114,206 
Luxembourg - 0.3%   
Eurofins Scientific SA 9,500 4,255,929 
Malta - 0.0%   
Unibet Group PLC unit 19,200 162,102 
Marshall Islands - 0.1%   
Hoegh LNG Partners LP 49,800 973,590 
Netherlands - 2.2%   
ASML Holding NV 21,000 2,549,400 
ASML Holding NV (Netherlands) 41,800 5,075,518 
Basic-Fit NV 37,100 645,397 
IMCD Group BV 106,500 4,779,168 
ING Groep NV (Certificaten Van Aandelen) 326,400 4,689,047 
Intertrust NV 98,600 1,836,600 
Koninklijke Philips Electronics NV 217,400 6,379,062 
LyondellBasell Industries NV Class A 43,000 4,010,610 
Takeaway.com Holding BV (c) 39,800 1,301,597 
Van Lanschot NV unit 17,200 370,977 
TOTAL NETHERLANDS  31,637,376 
New Zealand - 0.4%   
EBOS Group Ltd. 210,137 2,605,600 
Ryman Healthcare Group Ltd. 436,814 2,791,472 
TOTAL NEW ZEALAND  5,397,072 
Norway - 0.6%   
Statoil ASA 472,900 8,818,259 
Philippines - 0.3%   
D&L Industries, Inc. 8,349,900 2,067,327 
SM Investments Corp. 137,205 1,905,644 
TOTAL PHILIPPINES  3,972,971 
Singapore - 0.6%   
Broadcom Ltd. 48,000 9,576,000 
South Africa - 0.7%   
Aspen Pharmacare Holdings Ltd. 51,600 1,179,429 
Distell Group Ltd. 126,410 1,407,068 
EOH Holdings Ltd. 209,322 2,278,853 
Naspers Ltd. Class N 31,700 5,050,189 
TOTAL SOUTH AFRICA  9,915,539 
Spain - 1.2%   
Amadeus IT Holding SA Class A 87,900 4,055,990 
Atresmedia Corporacion de Medios de Comunicacion SA 108,300 1,228,723 
CaixaBank SA 1,153,884 4,211,434 
Grifols SA ADR 72,900 1,239,300 
Hispania Activos Inmobiliarios SA 99,880 1,229,153 
Inditex SA 104,302 3,438,058 
Mediaset Espana Comunicacion SA 183,300 2,237,936 
TOTAL SPAIN  17,640,594 
Sweden - 1.3%   
ASSA ABLOY AB (B Shares) 176,600 3,341,708 
HEXPOL AB (B Shares) 118,900 1,151,334 
Indutrade AB 87,000 1,763,453 
Nordea Bank AB 253,200 3,059,670 
Saab AB (B Shares) 66,000 2,695,202 
Sandvik AB 173,800 2,344,594 
Svenska Cellulosa AB (SCA) (B Shares) 62,200 1,871,698 
Svenska Handelsbanken AB (A Shares) 154,000 2,299,021 
TOTAL SWEDEN  18,526,680 
Switzerland - 2.6%   
ABB Ltd. (Reg.) 243,380 5,799,950 
Credit Suisse Group AG 191,807 2,927,958 
EDAG Engineering Group AG 77,800 1,326,545 
Julius Baer Group Ltd. 59,790 2,810,774 
Kaba Holding AG (B Shares) (Reg.) 2,620 2,028,114 
Nestle SA 119,288 8,739,581 
Panalpina Welttransport Holding AG 20,730 2,555,768 
Partners Group Holding AG 6,758 3,406,147 
Schindler Holding AG (participation certificate) 10,829 2,057,351 
Syngenta AG (a) 7,621 3,230,771 
UBS Group AG 210,740 3,401,059 
TOTAL SWITZERLAND  38,284,018 
Taiwan - 0.3%   
Largan Precision Co. Ltd. 13,000 1,854,731 
Taiwan Semiconductor Manufacturing Co. Ltd. 477,000 2,856,547 
TOTAL TAIWAN  4,711,278 
United Kingdom - 6.5%   
Antofagasta PLC 50,000 525,215 
BAE Systems PLC 275,100 2,020,526 
Barclays PLC 890,615 2,471,743 
BCA Marketplace PLC 511,600 1,208,345 
BHP Billiton PLC 283,176 5,164,512 
Booker Group PLC 910,700 2,334,856 
British American Tobacco PLC:   
(United Kingdom) 79,900 4,932,062 
sponsored ADR 68,500 8,439,200 
Bunzl PLC 101,900 2,677,893 
Cineworld Group PLC 138,500 1,068,919 
CMC Markets PLC 899,700 1,255,191 
Compass Group PLC 131,200 2,334,974 
Countryside Properties PLC 256,100 752,276 
Dialog Semiconductor PLC (a) 37,200 1,724,760 
Diploma PLC 147,500 1,883,383 
Domino's Pizza UK & IRL PLC 288,100 1,313,083 
GlaxoSmithKline PLC 290,300 5,610,048 
Hilton Food Group PLC 350,100 2,939,842 
Imperial Tobacco Group PLC 42,203 1,950,312 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. ELS (HSBC Warrant Program) warrants 9/19/19 (a)(c) 157,700 1,609,163 
LivaNova PLC (a) 26,600 1,279,593 
LivaNova PLC (a) 12,400 584,660 
London Stock Exchange Group PLC 69,481 2,771,679 
Melrose Industries PLC 1,946,193 4,780,327 
Micro Focus International PLC 252,200 6,805,390 
Moneysupermarket.com Group PLC 393,500 1,631,101 
NCC Group Ltd. 584,200 1,361,446 
Reckitt Benckiser Group PLC 43,500 3,732,545 
Rex Bionics PLC (a) 100,000 24,531 
Rio Tinto PLC 119,700 5,303,069 
Softcat PLC 330,900 1,292,941 
Spirax-Sarco Engineering PLC 33,846 1,832,994 
St. James's Place Capital PLC 123,700 1,666,632 
Standard Chartered PLC (United Kingdom) (a) 609,585 5,936,247 
TechnipFMC PLC (a) 51,200 1,678,009 
Zoopla Property Group PLC 575,600 2,651,672 
TOTAL UNITED KINGDOM  95,549,139 
United States of America - 52.4%   
Activision Blizzard, Inc. 311,000 12,505,310 
Adobe Systems, Inc. (a) 296,124 33,574,539 
Alaska Air Group, Inc. 70,000 6,567,400 
Alcoa Corp. 17,000 619,650 
Alexion Pharmaceuticals, Inc. (a) 56,500 7,383,420 
Allison Transmission Holdings, Inc. 368,700 12,897,126 
Alphabet, Inc. Class A (a) 41,000 33,627,790 
Amazon.com, Inc. (a) 20,500 16,881,340 
American Airlines Group, Inc. 69,000 3,053,250 
American Tower Corp. 46,000 4,761,000 
AMETEK, Inc. 32,000 1,635,200 
Amgen, Inc. 33,300 5,217,444 
Amphenol Corp. Class A 111,000 7,491,390 
Apple, Inc. 247,000 29,973,450 
Arch Coal, Inc. (a) 92,000 6,623,080 
Bank of America Corp. 1,575,000 35,657,996 
Berkshire Hathaway, Inc. Class B (a) 105,000 17,234,700 
Boston Scientific Corp. (a) 594,000 14,291,640 
Cabot Oil & Gas Corp. 25,000 537,000 
CalAtlantic Group, Inc. 79,000 2,754,730 
Caterpillar, Inc. 156,000 14,922,960 
CBOE Holdings, Inc. 211,000 16,799,820 
Celanese Corp. Class A 10,000 844,000 
CF Industries Holdings, Inc. 45,000 1,588,050 
Charles Schwab Corp. 57,000 2,350,680 
Charter Communications, Inc. Class A (a) 51,000 16,521,450 
CME Group, Inc. 187,000 22,641,960 
Colfax Corp. (a) 61,000 2,379,000 
CSX Corp. 173,000 8,025,470 
Cummins, Inc. 76,000 11,172,760 
DeVry, Inc. 25,000 837,500 
DexCom, Inc. (a) 12,000 949,800 
Dollar Tree, Inc. (a) 48,000 3,705,120 
Ecolab, Inc. 15,000 1,801,950 
Electronic Arts, Inc. (a) 42,900 3,579,147 
EOG Resources, Inc. 196,000 19,909,680 
Expeditors International of Washington, Inc. 32,000 1,666,560 
Facebook, Inc. Class A (a) 94,500 12,315,240 
Fastenal Co. 64,000 3,179,520 
First Republic Bank 36,000 3,395,880 
Flowserve Corp. 187,000 9,192,920 
Genesee & Wyoming, Inc. Class A (a) 10,000 753,600 
Global Payments, Inc. 33,400 2,581,152 
Goldman Sachs Group, Inc. 54,000 12,383,280 
Great Western Bancorp, Inc. 12,060 515,565 
HealthSouth Corp. 2 78 
Humana, Inc. 58,000 11,513,000 
Intel Corp. 111,000 4,087,020 
Intercept Pharmaceuticals, Inc. (a) 46,960 5,153,860 
Intuit, Inc. 23,000 2,727,340 
JetBlue Airways Corp. (a) 47,000 921,670 
JPMorgan Chase & Co. 183,000 15,487,290 
KeyCorp 72,000 1,293,840 
KLA-Tencor Corp. 31,000 2,638,410 
Lennar Corp. Class A 62,000 2,768,300 
LKQ Corp. (a) 15,000 478,650 
Microsoft Corp. 414,000 26,765,100 
Molson Coors Brewing Co. Class B 70,300 6,785,356 
Monsanto Co. 19,700 2,133,707 
Morgan Stanley 119,000 5,056,310 
MSC Industrial Direct Co., Inc. Class A 137,000 13,994,550 
MSCI, Inc. 172,500 14,274,375 
National Oilwell Varco, Inc. 15,000 567,150 
Netflix, Inc. (a) 15,000 2,110,650 
Norfolk Southern Corp. 236,000 27,720,560 
Northern Trust Corp. 75,000 6,222,000 
NVIDIA Corp. 30,700 3,351,826 
O'Reilly Automotive, Inc. (a) 3,600 944,172 
Oil States International, Inc. (a) 65,000 2,567,500 
PACCAR, Inc. 59,000 3,971,290 
PayPal Holdings, Inc. (a) 236,000 9,388,080 
Performance Food Group Co. (a) 77,000 1,705,550 
Pioneer Natural Resources Co. 25,000 4,505,750 
Plains All American Pipeline LP 27,000 847,530 
Prestige Brands Holdings, Inc. (a) 71,900 3,793,444 
Range Resources Corp. 222,000 7,179,480 
Regeneron Pharmaceuticals, Inc. (a) 5,000 1,796,450 
Rockwell Automation, Inc. 8,000 1,183,920 
S&P Global, Inc. 133,092 15,994,997 
ServiceNow, Inc. (a) 7,000 634,340 
SLM Corp. (a) 760,000 9,028,800 
Spirit Airlines, Inc. (a) 98,000 5,295,920 
Summit Materials, Inc. 70,000 1,757,000 
SunTrust Banks, Inc. 237,000 13,466,340 
SVB Financial Group (a) 71,000 12,228,330 
T-Mobile U.S., Inc. (a) 95,000 5,915,650 
Texas Instruments, Inc. 23,000 1,737,420 
Titan International, Inc. 110,900 1,473,861 
Twenty-First Century Fox, Inc. Class B 101,000 3,132,010 
U.S. Bancorp 89,000 4,685,850 
U.S. Foods Holding Corp. 102,000 2,774,400 
Union Pacific Corp. 113,000 12,043,540 
United Rentals, Inc. (a) 5,000 632,550 
UnitedHealth Group, Inc. 90,000 14,589,000 
Univar, Inc. (a) 155,700 4,642,974 
Vertex Pharmaceuticals, Inc. (a) 13,000 1,116,310 
Visa, Inc. Class A 136,100 11,256,831 
Wells Fargo & Co. 293,000 16,504,690 
Western Digital Corp. 52,000 4,145,960 
TOTAL UNITED STATES OF AMERICA  764,291,500 
TOTAL COMMON STOCKS   
(Cost $1,240,510,657)  1,441,094,433 
Convertible Preferred Stocks - 0.1%   
Cayman Islands - 0.1%   
China Internet Plus Holdings Ltd. Series A-11 (a)(d)   
(Cost $1,166,878) 369,166 1,166,897 
Money Market Funds - 1.0%   
Fidelity Cash Central Fund, 0.62% (e) 10,382,954 10,385,030 
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f) 4,402,333 4,403,213 
TOTAL MONEY MARKET FUNDS   
(Cost $14,787,706)  14,788,243 
TOTAL INVESTMENT PORTFOLIO - 99.9%   
(Cost $1,256,465,241)  1,457,049,573 
NET OTHER ASSETS (LIABILITIES) - 0.1%  2,164,853 
NET ASSETS - 100%  $1,459,214,426 

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $4,734,552 or 0.3% of net assets.

 (d) 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 $1,166,897 or 0.1% of net assets.

 (e) 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
China Internet Plus Holdings Ltd. Series A-11 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 $23,450 
Fidelity Securities Lending Cash Central Fund 27,131 
Total $50,581 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $158,723,457 $138,150,339 $19,406,221 $1,166,897 
Consumer Staples 77,173,262 54,708,292 22,464,970 -- 
Energy 92,451,631 73,219,465 19,232,166 -- 
Financials 333,691,039 293,167,188 40,523,851 -- 
Health Care 124,190,330 113,796,257 10,394,073 -- 
Industrials 253,995,657 231,898,740 22,096,917 -- 
Information Technology 296,944,966 278,115,730 18,829,236 -- 
Materials 68,610,054 53,328,097 15,281,957 -- 
Real Estate 10,695,492 10,695,492 -- -- 
Telecommunication Services 21,461,728 9,500,966 11,960,762 -- 
Utilities 4,323,714 4,323,714 -- -- 
Money Market Funds 14,788,243 14,788,243 -- -- 
Total Investments in Securities: $1,457,049,573 $1,275,692,523 $180,190,153 $1,166,897 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $40,206,363 
Level 2 to Level 1 $29,861,995 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,264,188,552. Net unrealized appreciation aggregated $192,861,021 of which $224,628,166 related to appreciated investment securities and $31,767,145 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Europe Fund

January 31, 2017







EUR-QTLY-0317
1.813067.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.1%   
 Shares Value 
Bailiwick of Jersey - 4.7%   
Shire PLC 621,100 $34,580,235 
Wolseley PLC 256,375 15,877,377 
TOTAL BAILIWICK OF JERSEY  50,457,612 
Belgium - 0.3%   
KBC Groep NV 49,459 3,204,527 
Bermuda - 3.8%   
Vostok Emerging Finance Ltd. (depository receipt) (a)(b)(c) 53,380,307 10,618,575 
Vostok New Ventures Ltd. SDR (a)(b) 3,821,161 31,016,272 
TOTAL BERMUDA  41,634,847 
Denmark - 3.4%   
Nets A/S (d) 915,900 16,154,846 
Novozymes A/S Series B 286,101 11,143,421 
Scandinavian Tobacco Group A/S 555,357 9,537,521 
TOTAL DENMARK  36,835,788 
Finland - 1.3%   
Valmet Corp. 868,400 13,714,715 
France - 10.6%   
Bollore Group 3,447,549 13,766,306 
Capgemini SA 247,600 20,145,210 
Havas SA 2,547,600 22,897,617 
Rubis 188,200 15,834,439 
Societe Generale Series A 64,900 3,172,802 
Thales SA 223,800 20,965,363 
Wendel SA 152,600 18,038,121 
TOTAL FRANCE  114,819,858 
Germany - 12.6%   
Bertrandt AG (b) 85,400 8,500,775 
Brenntag AG 173,500 10,065,139 
CompuGroup Medical AG 251,400 9,878,461 
CTS Eventim AG 708,609 24,558,508 
Fresenius Medical Care AG & Co. KGaA 139,900 11,419,304 
LEG Immobilien AG 284,010 22,276,742 
SAP AG 539,090 49,299,902 
TOTAL GERMANY  135,998,831 
Ireland - 4.4%   
CRH PLC 320,800 11,127,174 
DCC PLC (United Kingdom) 149,700 12,043,230 
Ryanair Holdings PLC sponsored ADR (a) 152,067 12,721,925 
United Drug PLC (United Kingdom) 1,416,741 11,424,288 
TOTAL IRELAND  47,316,617 
Italy - 2.9%   
Banca Generali SpA 290,200 7,390,061 
Intesa Sanpaolo SpA 4,278,800 10,050,306 
Prada SpA (b) 3,449,900 14,294,195 
TOTAL ITALY  31,734,562 
Malta - 0.8%   
Kambi Group PLC (a) 752,299 8,772,564 
Netherlands - 8.0%   
CSM NV (exchangeable) 578,093 14,786,898 
Intertrust NV 723,825 13,482,524 
Koninklijke Philips Electronics NV 1,112,400 32,640,611 
Koninklijke Wessanen NV 835,900 11,852,421 
Wolters Kluwer NV 374,900 14,308,329 
TOTAL NETHERLANDS  87,070,783 
Norway - 3.6%   
Orkla ASA 1,405,500 13,104,061 
Schibsted ASA (A Shares) 969,200 25,628,181 
TOTAL NORWAY  38,732,242 
Spain - 2.7%   
Amadeus IT Holding SA Class A 317,700 14,659,703 
CaixaBank SA 4,076,200 14,877,272 
TOTAL SPAIN  29,536,975 
Sweden - 14.3%   
AF AB (B Shares) 132,500 2,644,819 
Dometic Group AB (a) 2,907,600 22,853,003 
Getinge AB (B Shares) 1,996,800 32,278,986 
Indutrade AB 1,074,400 21,777,631 
Investor AB (B Shares) 800,931 31,947,140 
Lundbergfoeretagen AB 25,013 1,609,941 
Nobia AB 634,800 5,711,466 
Pandox AB (b) 778,547 12,451,981 
Svenska Cellulosa AB (SCA) (B Shares) 796,700 23,973,981 
TOTAL SWEDEN  155,248,948 
Switzerland - 6.3%   
ABB Ltd. (Reg.) 847,770 20,203,073 
Credit Suisse Group AG 206,603 3,153,821 
EDAG Engineering Group AG (b) 228,300 3,892,675 
Nestle SA 306,422 22,449,867 
Panalpina Welttransport Holding AG 151,620 18,692,982 
TOTAL SWITZERLAND  68,392,418 
United Kingdom - 13.3%   
Bunzl PLC 376,558 9,895,801 
Dechra Pharmaceuticals PLC 879,100 16,102,018 
Diploma PLC 1,201,700 15,344,147 
Essentra PLC 1,990,100 10,249,517 
International Personal Finance PLC 4,916,572 10,792,908 
Micro Focus International PLC 422,900 11,411,576 
NCC Group Ltd. 8,815,900 20,544,970 
Prudential PLC 1,520,137 29,458,369 
Shawbrook Group PLC (a) 2,688,800 8,456,276 
Softcat PLC 3,064,278 11,973,201 
TOTAL UNITED KINGDOM  144,228,783 
United States of America - 3.1%   
Autoliv, Inc. Swedish Depository Receipt (b) 288,900 33,259,286 
TOTAL COMMON STOCKS   
(Cost $1,010,940,412)  1,040,959,356 
Nonconvertible Preferred Stocks - 2.3%   
Italy - 1.1%   
Buzzi Unicem SpA (Risparmio Shares) 889,200 11,806,664 
Spain - 1.2%   
Grifols SA Class B 767,100 13,097,538 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $22,029,700)  24,904,202 
Money Market Funds - 2.7%   
Fidelity Cash Central Fund, 0.62% (e) 17,211,425 17,214,868 
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f) 12,133,892 12,136,318 
TOTAL MONEY MARKET FUNDS   
(Cost $29,351,112)  29,351,186 
TOTAL INVESTMENT PORTFOLIO - 101.1%   
(Cost $1,062,321,224)  1,095,214,744 
NET OTHER ASSETS (LIABILITIES) - (1.1)%  (12,313,274) 
NET ASSETS - 100%  $1,082,901,470 

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

Legend

 (a) Non-income producing

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

 (c) Affiliated company

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $16,154,846 or 1.5% of net assets.

 (e) 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.

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


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 $10,864 
Fidelity Securities Lending Cash Central Fund 20,112 
Total $30,976 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
Vostok Emerging Finance Ltd. (depository receipt) $8,746,849 $-- $-- $-- $10,618,575 
Total $8,746,849 $-- $-- $-- $10,618,575 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $174,319,476 $160,025,281 $14,294,195 $-- 
Consumer Staples 71,380,330 24,956,482 46,423,848 -- 
Financials 193,323,912 147,488,614 45,835,298 -- 
Health Care 128,780,830 69,683,753 59,097,077 -- 
Industrials 256,644,747 187,923,686 68,721,061 -- 
Information Technology 144,189,408 94,889,506 49,299,902 -- 
Materials 59,113,674 47,986,500 11,127,174 -- 
Real Estate 22,276,742 22,276,742 -- -- 
Utilities 15,834,439 15,834,439 -- -- 
Money Market Funds 29,351,186 29,351,186 -- -- 
Total Investments in Securities: $1,095,214,744 $800,416,189 $294,798,555 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $50,541,003 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,070,272,407. Net unrealized appreciation aggregated $24,942,337, of which $100,508,772 related to appreciated investment securities and $75,566,435 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Canada Fund

January 31, 2017







CAN-QTLY-0317
1.813011.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.8%   
 Shares Value 
CONSUMER DISCRETIONARY - 3.2%   
Auto Components - 0.3%   
Magna International, Inc. Class A (sub. vtg.) 105,600 $4,568,088 
Media - 2.1%   
Cogeco Communications, Inc. 189,000 10,312,392 
Corus Entertainment, Inc. Class B (non-vtg.) (a) 588,000 5,838,202 
Quebecor, Inc. Class B (sub. vtg.) 402,500 12,122,171 
  28,272,765 
Specialty Retail - 0.8%   
AutoCanada, Inc. (a) 343,200 6,688,609 
Sleep Country Canada Holdings, Inc. 207,200 4,534,913 
  11,223,522 
TOTAL CONSUMER DISCRETIONARY  44,064,375 
CONSUMER STAPLES - 7.3%   
Beverages - 0.4%   
Molson Coors Brewing Co. Class B 57,000 5,501,640 
Food & Staples Retailing - 6.5%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 658,300 30,156,590 
Empire Co. Ltd. Class A (non-vtg.) 465,600 5,814,409 
George Weston Ltd. 322,600 27,513,658 
Jean Coutu Group, Inc. Class A (sub. vtg.) (a) 395,700 6,218,686 
Metro, Inc. Class A (sub. vtg.) 382,495 11,619,618 
North West Co., Inc. 429,400 9,662,119 
  90,985,080 
Tobacco - 0.4%   
Imperial Tobacco Group PLC 123,551 5,709,617 
TOTAL CONSUMER STAPLES  102,196,337 
ENERGY - 20.7%   
Energy Equipment & Services - 1.7%   
Canadian Energy Services & Technology Corp. 1,773,500 10,508,115 
Pason Systems, Inc. 374,300 5,476,789 
ShawCor Ltd. Class A 283,000 7,905,514 
  23,890,418 
Oil, Gas & Consumable Fuels - 19.0%   
ARC Resources Ltd. 625,400 9,732,450 
Canadian Natural Resources Ltd. 874,498 26,438,233 
Cenovus Energy, Inc. 1,306,700 17,834,384 
Enbridge, Inc. 1,323,200 56,334,509 
Imperial Oil Ltd. 601,600 19,778,250 
Keyera Corp. 114,704 3,367,295 
NuVista Energy Ltd. (b) 831,200 4,158,395 
Painted Pony Petroleum Ltd. (b) 740,200 4,448,310 
Peyto Exploration & Development Corp. 447,400 9,737,074 
PrairieSky Royalty Ltd. (a) 724,518 16,981,978 
Raging River Exploration, Inc. (b) 951,500 6,917,341 
Spartan Energy Corp. (b) 2,923,500 6,403,055 
Suncor Energy, Inc. 2,425,100 75,217,703 
Whitecap Resources, Inc. 821,000 6,536,453 
  263,885,430 
TOTAL ENERGY  287,775,848 
FINANCIALS - 32.5%   
Banks - 22.6%   
Bank of Nova Scotia 753,400 45,021,621 
Royal Bank of Canada (a) 1,950,800 140,262,707 
The Toronto-Dominion Bank 2,499,500 129,484,184 
  314,768,512 
Capital Markets - 1.8%   
Amundi SA 113,000 6,196,762 
CI Financial Corp. 443,200 9,264,200 
TMX Group Ltd. 180,600 9,559,829 
  25,020,791 
Diversified Financial Services - 0.6%   
Element Financial Corp. 778,800 7,571,043 
Insurance - 7.5%   
Fairfax Financial Holdings Ltd. (sub. vtg.) 12,700 5,933,987 
Intact Financial Corp. 259,625 18,956,366 
Manulife Financial Corp. 915,700 17,557,514 
Power Corp. of Canada (sub. vtg.) 1,403,200 32,921,957 
Sun Life Financial, Inc. 746,300 29,456,267 
  104,826,091 
TOTAL FINANCIALS  452,186,437 
HEALTH CARE - 0.5%   
Pharmaceuticals - 0.5%   
Bayer AG 58,400 6,487,022 
INDUSTRIALS - 7.4%   
Airlines - 0.5%   
WestJet Airlines Ltd. 426,100 7,190,898 
Professional Services - 0.5%   
Stantec, Inc. 264,800 7,097,963 
Road & Rail - 5.8%   
Canadian National Railway Co. 570,600 39,658,070 
Canadian Pacific Railway Ltd. 219,700 33,228,939 
TransForce, Inc. 271,100 7,337,669 
  80,224,678 
Trading Companies & Distributors - 0.6%   
Toromont Industries Ltd. 249,000 8,065,591 
TOTAL INDUSTRIALS  102,579,130 
INFORMATION TECHNOLOGY - 4.3%   
IT Services - 1.6%   
CGI Group, Inc. Class A (sub. vtg.) (b) 465,800 22,397,776 
Semiconductors & Semiconductor Equipment - 0.3%   
Dialog Semiconductor PLC (b) 89,400 4,144,989 
Software - 2.4%   
Constellation Software, Inc. 31,900 14,408,136 
Open Text Corp. 543,628 18,607,640 
  33,015,776 
TOTAL INFORMATION TECHNOLOGY  59,558,541 
MATERIALS - 14.2%   
Chemicals - 3.2%   
Agrium, Inc. 368,900 37,994,219 
Monsanto Co. 60,800 6,585,248 
  44,579,467 
Construction Materials - 0.4%   
CRH PLC 180,300 6,253,833 
Containers & Packaging - 0.8%   
CCL Industries, Inc. Class B 52,700 10,845,771 
Metals & Mining - 9.2%   
Agnico Eagle Mines Ltd. (Canada) 410,100 19,561,888 
Barrick Gold Corp. 414,100 7,631,215 
Detour Gold Corp. (b) 474,800 6,440,131 
Franco-Nevada Corp. 299,000 19,448,500 
Goldcorp, Inc. 369,900 5,980,938 
Labrador Iron Ore Royalty Corp. (a) 461,100 6,654,723 
Lundin Mining Corp. (b) 2,376,600 14,538,126 
Randgold Resources Ltd. 126,564 10,773,281 
Silver Wheaton Corp. 739,400 16,347,772 
Tahoe Resources, Inc. 793,700 7,240,130 
Teck Resources Ltd. Class B (sub. vtg.) 266,700 6,536,071 
Torex Gold Resources, Inc. (b) 325,570 6,905,462 
  128,058,237 
Paper & Forest Products - 0.6%   
Western Forest Products, Inc. 5,761,100 8,234,886 
TOTAL MATERIALS  197,972,194 
REAL ESTATE - 0.8%   
Equity Real Estate Investment Trusts (REITs) - 0.8%   
Allied Properties (REIT) 413,000 10,759,424 
TELECOMMUNICATION SERVICES - 6.2%   
Diversified Telecommunication Services - 2.7%   
TELUS Corp. 1,148,700 38,347,380 
Wireless Telecommunication Services - 3.5%   
Rogers Communications, Inc. Class B (non-vtg.) 1,112,500 48,261,768 
TOTAL TELECOMMUNICATION SERVICES  86,609,148 
UTILITIES - 0.7%   
Electric Utilities - 0.7%   
Hydro One Ltd. (a) 526,100 9,723,500 
TOTAL COMMON STOCKS   
(Cost $1,060,318,949)  1,359,911,956 
Money Market Funds - 4.9%   
Fidelity Cash Central Fund, 0.62% (c) 28,967,915 28,973,708 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 38,931,921 38,939,707 
TOTAL MONEY MARKET FUNDS   
(Cost $67,905,147)  67,913,415 
TOTAL INVESTMENT PORTFOLIO - 102.7%   
(Cost $1,128,224,096)  1,427,825,371 
NET OTHER ASSETS (LIABILITIES) - (2.7)%  (37,058,400) 
NET ASSETS - 100%  $1,390,766,971 

Legend

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

 (b) Non-income producing

 (c) 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.

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


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 $40,806 
Fidelity Securities Lending Cash Central Fund 292,288 
Total $333,094 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $44,064,375 $44,064,375 $-- $-- 
Consumer Staples 102,196,337 102,196,337 -- -- 
Energy 287,775,848 287,775,848 -- -- 
Financials 452,186,437 452,186,437 -- -- 
Health Care 6,487,022 -- 6,487,022 -- 
Industrials 102,579,130 102,579,130 -- -- 
Information Technology 59,558,541 59,558,541 -- -- 
Materials 197,972,194 180,945,080 17,027,114 -- 
Real Estate 10,759,424 10,759,424 -- -- 
Telecommunication Services 86,609,148 86,609,148 -- -- 
Utilities 9,723,500 9,723,500 -- -- 
Money Market Funds 67,913,415 67,913,415 -- -- 
Total Investments in Securities: $1,427,825,371 $1,404,311,235 $23,514,136 $-- 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,139,421,779. Net unrealized appreciation aggregated $288,403,592, of which $345,402,911 related to appreciated investment securities and $56,999,319 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Emerging Markets Fund

January 31, 2017







EMF-QTLY-0317
1.813065.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.2%   
 Shares Value 
Australia - 0.5%   
Amcor Ltd. 1,737,803 $18,846,682 
Belgium - 0.5%   
Anheuser-Busch InBev SA NV 188,400 19,672,362 
Bermuda - 0.9%   
Credicorp Ltd. (United States) 188,532 30,858,918 
Brazil - 6.2%   
BB Seguridade Participacoes SA 2,930,320 25,954,502 
Cielo SA 3,073,954 25,841,465 
Drogasil SA 695,100 14,448,621 
Equatorial Energia SA 1,268,400 23,386,767 
Kroton Educacional SA 5,834,160 25,013,329 
Odontoprev SA 5,306,294 18,877,076 
Qualicorp SA 3,093,500 20,233,263 
Smiles SA 1,431,900 23,629,463 
Ultrapar Participacoes SA 1,223,200 25,682,115 
Weg SA 4,400,190 22,216,694 
TOTAL BRAZIL  225,283,295 
Cayman Islands - 13.0%   
Alibaba Group Holding Ltd. sponsored ADR (a) 1,185,600 120,113,136 
Baidu.com, Inc. sponsored ADR (a) 351,700 61,572,119 
Ctrip.com International Ltd. ADR (a) 737,500 31,867,375 
NetEase, Inc. ADR 146,300 37,145,570 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 507,300 24,122,115 
Shenzhou International Group Holdings Ltd. 3,368,000 20,775,170 
TAL Education Group ADR (a)(b) 278,000 22,515,220 
Tencent Holdings Ltd. 5,785,600 151,266,731 
TOTAL CAYMAN ISLANDS  469,377,436 
Chile - 0.6%   
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 671,100 21,689,952 
China - 3.1%   
Gree Electric Appliances, Inc. of Zhuhai Class A 5,006,167 18,754,076 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 7,169,308 19,179,551 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 2,786,768 19,369,063 
Kweichow Moutai Co. Ltd. (A Shares) 368,598 18,447,977 
Shanghai International Airport Co. Ltd. (A Shares) 4,706,400 18,807,408 
Wuliangye Yibin Co. Ltd. Class A 3,397,900 18,269,209 
TOTAL CHINA  112,827,284 
France - 0.5%   
Dassault Systemes SA 236,362 18,289,351 
Germany - 1.1%   
Symrise AG 308,800 18,550,905 
Wirecard AG (b) 431,463 20,870,899 
TOTAL GERMANY  39,421,804 
Greece - 0.5%   
Titan Cement Co. SA (Reg.) 816,300 18,337,686 
Hong Kong - 1.6%   
AIA Group Ltd. 3,280,400 20,310,114 
Guangdong Investment Ltd. 17,005,000 21,101,575 
Techtronic Industries Co. Ltd. 4,895,000 16,929,895 
TOTAL HONG KONG  58,341,584 
India - 10.9%   
Amara Raja Batteries Ltd. 1,446,284 19,235,588 
Asian Paints Ltd. 1,597,328 22,965,656 
Bajaj Auto Ltd. 502,671 21,095,951 
Colgate-Palmolive Ltd. 1,172,862 15,420,143 
Eicher Motors Ltd. 60,789 20,734,303 
Godrej Consumer Products Ltd. 973,957 22,797,792 
HDFC Bank Ltd. 1,126,963 24,256,580 
Hero Motocorp Ltd. 423,252 19,887,484 
Hindustan Unilever Ltd. 1,662,160 21,059,197 
Housing Development Finance Corp. Ltd. 2,410,299 48,761,118 
IndusInd Bank Ltd. 1,213,658 22,507,006 
ITC Ltd. 8,069,922 30,850,135 
LIC Housing Finance Ltd. 2,758,036 22,612,913 
Maruti Suzuki India Ltd. 310,599 27,116,169 
Power Grid Corp. of India Ltd. 6,721,189 20,626,977 
Tata Consultancy Services Ltd. 363,565 12,007,365 
Zee Entertainment Enterprises Ltd. 3,136,577 22,724,678 
TOTAL INDIA  394,659,055 
Indonesia - 3.0%   
PT ACE Hardware Indonesia Tbk 218,951,000 12,216,326 
PT Bank Central Asia Tbk 27,531,300 31,546,818 
PT Bank Rakyat Indonesia Tbk 32,619,600 28,643,685 
PT Kalbe Farma Tbk 161,867,600 17,577,833 
PT Surya Citra Media Tbk 87,749,500 18,532,379 
TOTAL INDONESIA  108,517,041 
Israel - 0.5%   
Frutarom Industries Ltd. 357,500 18,863,459 
Kenya - 0.5%   
Safaricom Ltd. 103,971,000 18,530,477 
Korea (South) - 8.9%   
AMOREPACIFIC Group, Inc. 186,603 21,955,486 
Coway Co. Ltd. 284,888 21,645,487 
KT&G Corp. 323,707 28,249,014 
LG Household & Health Care Ltd. 35,162 26,837,842 
NAVER Corp. 50,641 33,331,635 
Samsung Electronics Co. Ltd. 109,941 188,352,729 
TOTAL KOREA (SOUTH)  320,372,193 
Luxembourg - 0.5%   
Eurofins Scientific SA 38,160 17,095,394 
Mexico - 6.1%   
CEMEX S.A.B. de CV sponsored ADR 3,453,600 31,980,336 
Embotelladoras Arca S.A.B. de CV 3,952,100 21,320,702 
Fomento Economico Mexicano S.A.B. de CV unit 4,113,167 30,939,237 
Gruma S.A.B. de CV Series B 1,772,710 23,850,636 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 2,453,557 19,009,816 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 1,407,295 20,389,193 
Grupo Aeroportuario Norte S.A.B. de CV 4,207,200 17,951,742 
Grupo Mexico SA de CV Series B 9,619,100 28,847,844 
Megacable Holdings S.A.B. de CV unit 1,607,828 5,106,407 
Promotora y Operadora de Infraestructura S.A.B. de CV 2,522,640 21,993,487 
TOTAL MEXICO  221,389,400 
Multi-National - 0.6%   
HKT Trust/HKT Ltd. unit 15,087,000 21,075,272 
Netherlands - 1.0%   
ASML Holding NV (Netherlands) 149,300 18,128,585 
Yandex NV Series A (a) 833,000 19,275,620 
TOTAL NETHERLANDS  37,404,205 
Philippines - 3.1%   
Ayala Corp. 1,510,120 24,317,797 
Ayala Land, Inc. 34,279,700 24,530,105 
D&L Industries, Inc. 76,771,300 19,007,578 
SM Investments Corp. 1,562,173 21,697,066 
SM Prime Holdings, Inc. 38,350,000 22,926,861 
TOTAL PHILIPPINES  112,479,407 
Russia - 2.8%   
Magnit OJSC 166,490 26,708,146 
NOVATEK OAO GDR (Reg. S) 227,900 28,852,140 
Sberbank of Russia 16,272,340 46,511,893 
TOTAL RUSSIA  102,072,179 
South Africa - 7.0%   
Aspen Pharmacare Holdings Ltd. 1,199,890 27,426,057 
Bidcorp Ltd. 1,317,298 22,704,450 
Capitec Bank Holdings Ltd. 421,800 21,974,606 
Discovery Ltd. 2,510,985 21,442,601 
FirstRand Ltd. 8,093,600 30,152,039 
Mondi Ltd. 1,034,066 22,720,291 
Naspers Ltd. Class N 511,512 81,489,981 
Sanlam Ltd. 5,040,800 24,311,806 
TOTAL SOUTH AFRICA  252,221,831 
Spain - 0.5%   
Amadeus IT Holding SA Class A 390,900 18,037,388 
Sweden - 0.5%   
ASSA ABLOY AB (B Shares) 970,600 18,366,146 
Switzerland - 1.1%   
Nestle SA 272,576 19,970,155 
Sika AG 3,710 19,439,493 
TOTAL SWITZERLAND  39,409,648 
Taiwan - 6.9%   
Advantech Co. Ltd. 2,420,000 20,560,748 
Far EasTone Telecommunications Co. Ltd. 9,091,000 21,685,141 
Largan Precision Co. Ltd. 227,000 32,386,464 
Taiwan Mobile Co. Ltd. 6,852,000 22,956,798 
Taiwan Semiconductor Manufacturing Co. Ltd. 25,129,000 150,486,750 
TOTAL TAIWAN  248,075,901 
Thailand - 2.2%   
Airports of Thailand PCL (For. Reg.) 2,113,900 24,927,853 
Bangkok Dusit Medical Services PCL (For. Reg.) 26,267,700 16,610,210 
Minor International PCL (For. Reg.) 18,353,200 18,166,309 
Thai Beverage PCL 33,615,700 20,631,909 
TOTAL THAILAND  80,336,281 
United Kingdom - 2.2%   
British American Tobacco PLC (United Kingdom) 340,500 21,018,362 
InterContinental Hotel Group PLC 391,100 18,105,740 
NMC Health PLC 995,600 20,427,701 
Reckitt Benckiser Group PLC 228,200 19,580,844 
TOTAL UNITED KINGDOM  79,132,647 
United States of America - 8.4%   
A.O. Smith Corp. 347,400 16,935,750 
Alphabet, Inc. Class C (a) 21,845 17,405,878 
Amazon.com, Inc. (a) 20,880 17,194,262 
Amphenol Corp. Class A 278,200 18,775,718 
China Biologic Products, Inc. (a) 178,278 20,312,995 
Facebook, Inc. Class A (a) 151,900 19,795,608 
MasterCard, Inc. Class A 163,500 17,384,955 
MercadoLibre, Inc. 112,300 20,819,297 
Mettler-Toledo International, Inc. (a) 41,380 17,653,949 
Moody's Corp. 191,200 19,821,704 
MSCI, Inc. 225,900 18,693,225 
Philip Morris International, Inc. 207,300 19,927,749 
S&P Global, Inc. 172,800 20,767,104 
Sherwin-Williams Co. 67,700 20,567,937 
TransDigm Group, Inc. 92,000 19,908,800 
Visa, Inc. Class A 227,100 18,783,441 
TOTAL UNITED STATES OF AMERICA  304,748,372 
TOTAL COMMON STOCKS   
(Cost $2,829,913,602)  3,445,732,650 
Preferred Stocks - 4.1%   
Convertible Preferred Stocks - 0.6%   
India - 0.6%   
PC Jeweller Ltd. 13.00% (c) 169,426,966 22,450,033 
Nonconvertible Preferred Stocks - 3.5%   
Brazil - 3.5%   
Ambev SA sponsored ADR 7,731,780 41,674,294 
Itau Unibanco Holding SA 4,562,810 53,923,723 
Itausa-Investimentos Itau SA (PN) 10,320,000 30,392,434 
  125,990,451 
TOTAL PREFERRED STOCKS   
(Cost $138,719,171)  148,440,484 
Money Market Funds - 1.5%   
Fidelity Cash Central Fund, 0.62% (d) 15,515,013 15,518,116 
Fidelity Securities Lending Cash Central Fund 0.65% (d)(e) 38,767,032 38,774,785 
TOTAL MONEY MARKET FUNDS   
(Cost $54,288,189)  54,292,901 
TOTAL INVESTMENT PORTFOLIO - 100.8%   
(Cost $3,022,920,962)  3,648,466,035 
NET OTHER ASSETS (LIABILITIES) - (0.8)%  (27,216,642) 
NET ASSETS - 100%  $3,621,249,393 

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

Legend

 (a) Non-income producing

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

 (c) 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 $22,450,033 or 0.6% of net assets.

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

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
PC Jeweller Ltd. 13.00% 7/28/16 $25,285,041 

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 $40,255 
Fidelity Securities Lending Cash Central Fund 78,074 
Total $118,329 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $489,337,849 $347,692,770 $141,645,079 $-- 
Consumer Staples 525,513,813 445,272,090 80,241,723 -- 
Energy 54,534,255 54,534,255 -- -- 
Financials 567,760,586 476,681,999 91,078,587 -- 
Health Care 195,583,541 195,583,541 -- -- 
Industrials 262,173,846 243,807,700 18,366,146 -- 
Information Technology 1,040,631,452 720,749,386 319,882,066 -- 
Materials 261,817,819 261,817,819 -- -- 
Real Estate 47,456,966 47,456,966 -- -- 
Telecommunication Services 84,247,688 63,172,416 21,075,272 -- 
Utilities 65,115,319 44,013,744 21,101,575 -- 
Money Market Funds 54,292,901 54,292,901 -- -- 
Total Investments in Securities: $3,648,466,035 $2,955,075,587 $693,390,448 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $185,942,753 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $3,037,038,962. Net unrealized appreciation aggregated $611,427,073, of which $691,578,718 related to appreciated investment securities and $80,151,645 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Series Emerging Markets Fund

January 31, 2017







ILF-QTLY-0317
1.873105.108





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 89.9%   
 Shares Value 
Argentina - 0.5%   
Grupo Superveille SA sponsored ADR 633,652 $9,333,694 
Telecom Argentina SA Class B sponsored ADR 1,326,073 25,593,209 
YPF SA Class D sponsored ADR 1,722,000 37,315,740 
TOTAL ARGENTINA  72,242,643 
Australia - 0.0%   
Frontier Digital Ventures Ltd. (a) 15,575,924 5,315,751 
Austria - 0.4%   
Erste Group Bank AG 2,133,540 64,810,822 
Bermuda - 1.4%   
AGTech Holdings Ltd. (b) 74,748,000 13,781,981 
Credicorp Ltd. (United States) 367,840 60,208,051 
GP Investments Ltd. Class A (depositary receipt) (a)(b) 7,634,637 15,796,970 
PAX Global Technology Ltd. (c) 36,288,000 25,288,468 
Shangri-La Asia Ltd. 76,104,000 84,649,757 
VimpelCom Ltd. sponsored ADR 5,404,220 22,859,851 
TOTAL BERMUDA  222,585,078 
Brazil - 3.7%   
B2W Companhia Global do Varejo (b) 15,542,994 59,190,736 
BB Seguridade Participacoes SA 6,623,700 58,667,598 
BR Malls Participacoes SA 11,321,100 52,705,575 
Cielo SA 4,103,440 34,495,930 
Companhia de Saneamento de Minas Gerais 4,055,970 55,553,827 
Cosan SA Industria e Comercio 2,136,800 27,307,587 
Direcional Engenharia SA (a) 14,002,100 26,261,436 
FPC Par Corretora de Seguros (a) 12,340,600 55,219,593 
Localiza Rent A Car SA 3,292,700 38,505,917 
Minerva SA (a)(b) 12,847,500 48,966,543 
Smiles SA (a) 7,270,700 119,982,355 
TOTAL BRAZIL  576,857,097 
British Virgin Islands - 0.2%   
Mail.Ru Group Ltd. GDR (Reg. S) (b) 1,922,301 34,889,763 
Canada - 0.6%   
Pan American Silver Corp. 3,200,800 62,511,624 
Torex Gold Resources, Inc. (b) 1,079,590 22,898,508 
TOTAL CANADA  85,410,132 
Cayman Islands - 12.6%   
51job, Inc. sponsored ADR (b)(c) 900,100 31,665,518 
58.com, Inc. ADR (b)(c) 3,309,322 96,566,016 
Airtac International Group 2,370,000 19,718,023 
Alibaba Group Holding Ltd. sponsored ADR (b) 2,674,306 270,933,941 
Bitauto Holdings Ltd. ADR (b)(c) 2,512,660 48,996,870 
BizLink Holding, Inc. 2,755,277 14,575,615 
China State Construction International Holdings Ltd. 24,896,000 40,454,856 
CK Hutchison Holdings Ltd. 1,852,270 22,199,792 
Ctrip.com International Ltd. ADR (b) 2,858,200 123,502,822 
Fang Holdings Ltd. ADR (c) 4,852,295 18,487,244 
Haitian International Holdings Ltd. 15,980,000 32,507,088 
JD.com, Inc. sponsored ADR (b) 11,526,400 327,349,760 
Momo, Inc. ADR (b) 1,141,700 25,950,841 
NetEase, Inc. ADR 294,000 74,646,600 
Sino Biopharmaceutical Ltd. 76,737,000 60,229,174 
Sunny Optical Technology Group Co. Ltd. 6,523,000 38,221,581 
Tencent Holdings Ltd. 20,727,199 541,920,569 
Uni-President China Holdings Ltd. 110,383,000 84,339,722 
Vipshop Holdings Ltd. ADR (b) 8,128,400 92,013,488 
TOTAL CAYMAN ISLANDS  1,964,279,520 
Chile - 1.8%   
Compania Cervecerias Unidas SA sponsored ADR (c) 2,722,400 61,499,016 
CorpBanca SA 4,433,814,623 36,307,273 
Enersis SA 268,569,624 48,034,655 
Inversiones La Construccion SA 2,686,616 35,002,745 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 1,492,200 48,227,904 
Vina Concha y Toro SA 34,096,719 55,463,190 
TOTAL CHILE  284,534,783 
China - 6.7%   
Anhui Conch Cement Co. Ltd. (H Shares) 15,521,500 49,947,669 
BBMG Corp. (H Shares) 156,886,500 60,206,758 
China Life Insurance Co. Ltd. (H Shares) 41,213,900 113,527,301 
China Longyuan Power Grid Corp. Ltd. (H Shares) 43,460,810 35,499,625 
China Oilfield Services Ltd. (H Shares) 6,654,000 7,098,010 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 31,102,494 110,476,351 
China Petroleum & Chemical Corp. (H Shares) 61,158,000 48,310,359 
China Telecom Corp. Ltd. (H Shares) 103,630,882 48,928,126 
Industrial & Commercial Bank of China Ltd. (H Shares) 348,414,400 213,015,393 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 9,431,079 25,230,310 
Kweichow Moutai Co. Ltd. (A Shares) 944,129 47,252,753 
Maanshan Iron & Steel Ltd. (H Shares) (b) 72,204,000 26,460,003 
PICC Property & Casualty Co. Ltd. (H Shares) 35,454,500 53,594,774 
Qingdao Haier Co. Ltd. 54,663,837 80,307,977 
Shanghai International Airport Co. Ltd. (A Shares) 8,259,398 33,005,667 
Tsingtao Brewery Co. Ltd. (H Shares) 15,550,000 62,091,232 
Zhengzhou Yutong Bus Co. Ltd. 11,884,554 34,988,856 
TOTAL CHINA  1,049,941,164 
Colombia - 0.3%   
Bancolombia SA sponsored ADR 1,359,886 51,485,284 
Czech Republic - 0.3%   
MONETA Money Bank A/S 13,247,575 43,715,780 
Egypt - 0.1%   
Global Telecom Holding GDR (b) 8,124,356 14,705,084 
Greece - 0.4%   
Titan Cement Co. SA (Reg.) 2,474,800 55,594,885 
Hong Kong - 4.7%   
AIA Group Ltd. 5,589,720 34,607,929 
China Mobile Ltd. 5,029,295 56,592,776 
China Mobile Ltd. sponsored ADR 3,385,670 192,983,190 
China Resources Beer Holdings Co. Ltd. (b) 50,634,666 102,844,760 
China Resources Power Holdings Co. Ltd. 19,243,397 33,050,302 
China Unicom Ltd. sponsored ADR 1,055,900 12,639,123 
CNOOC Ltd. 123,839,000 154,644,503 
Far East Horizon Ltd. 121,219,750 110,507,380 
Sinotruk Hong Kong Ltd. 43,262,000 32,437,679 
Techtronic Industries Co. Ltd. 2,798,000 9,677,190 
TOTAL HONG KONG  739,984,832 
India - 7.8%   
ACC Ltd. 581,950 12,183,757 
Adani Ports & Special Economic Zone 14,210,202 61,742,765 
Axis Bank Ltd. 7,051,611 48,671,417 
Bharti Infratel Ltd. 6,580,447 28,635,641 
Coal India Ltd. 13,262,192 60,737,166 
Edelweiss Financial Services Ltd. 17,055,861 27,826,455 
Eicher Motors Ltd. 123,870 42,250,375 
ICICI Bank Ltd. 7,151,963 28,546,781 
ICICI Bank Ltd. sponsored ADR 3,203,800 24,829,450 
ITC Ltd. 17,429,860 66,631,813 
JK Cement Ltd. 3,180,810 34,057,729 
Larsen & Toubro Ltd. 2,663,943 57,064,764 
LIC Housing Finance Ltd. 5,767,451 47,286,862 
Lupin Ltd. 4,362,357 95,026,564 
Petronet LNG Ltd. 7,752,511 42,939,369 
Phoenix Mills Ltd. 6,670,130 34,163,237 
Power Grid Corp. of India Ltd. 36,543,203 112,149,177 
Reliance Industries Ltd. 8,590,998 132,997,276 
SREI Infrastructure Finance Ltd. (a) 41,882,982 54,001,534 
State Bank of India 20,217,995 77,964,230 
Sun Pharmaceutical Industries Ltd. 9,589,718 89,697,207 
Tata Consultancy Services Ltd. 1,142,480 37,732,384 
TOTAL INDIA  1,217,135,953 
Indonesia - 1.7%   
PT Astra International Tbk 148,138,000 88,200,494 
PT Bank Mandiri (Persero) Tbk 74,180,200 60,555,265 
PT Bank Rakyat Indonesia Tbk 86,297,100 75,778,581 
PT Kalbe Farma Tbk 171,731,800 18,649,025 
PT Link Net Tbk 51,291,341 19,206,643 
TOTAL INDONESIA  262,390,008 
Israel - 0.5%   
Bezeq The Israel Telecommunication Corp. Ltd. 44,367,937 77,447,182 
Japan - 1.3%   
Alps Electric Co. Ltd. 857,500 22,897,551 
Nexon Co. Ltd. 1,219,200 18,594,123 
Nissha Printing Co. Ltd. (c) 745,800 20,476,309 
Rakuten, Inc. 2,705,800 27,019,657 
Sony Corp. 878,700 26,605,058 
Sumco Corp. 3,256,300 51,075,257 
Suzuki Motor Corp. 829,400 32,093,248 
TOTAL JAPAN  198,761,203 
Korea (South) - 12.0%   
AMOREPACIFIC Group, Inc. 352,298 41,450,962 
Daou Technology, Inc. (a) 2,905,362 44,779,965 
Duk San Neolux Co. Ltd. (b) 319,937 7,361,994 
EO Technics Co. Ltd. 129,790 9,579,554 
Fila Korea Ltd. (a) 670,598 40,062,296 
Hanon Systems 3,488,604 27,535,990 
Hyundai Fire & Marine Insurance Co. Ltd. 1,852,516 48,418,754 
Hyundai Glovis Co. Ltd. 266,616 35,999,937 
Hyundai Mobis 640,375 134,565,856 
InterPark INT Corp. (a) 3,076,471 24,443,256 
KB Financial Group, Inc. 4,170,080 170,277,083 
KEPCO Plant Service & Engineering Co. Ltd. 515,113 24,466,677 
Korea Electric Power Corp. 1,510,752 55,687,281 
Korea Express Co. Ltd. (b) 217,379 30,767,367 
Korean Reinsurance Co. (a) 6,241,323 58,801,925 
KT Corp. 564,099 14,405,838 
KT Corp. sponsored ADR (c) 193,900 2,883,293 
LG Chemical Ltd. 200,055 45,513,040 
LG Display Co. Ltd. 456,392 12,149,809 
Samsung Electronics Co. Ltd. 405,884 695,367,144 
Samsung Fire & Marine Insurance Co. Ltd. 84,342 19,700,685 
Samsung Life Insurance Co. Ltd. 597,148 57,555,934 
Samsung SDI Co. Ltd. 681,787 68,377,914 
Shinhan Financial Group Co. Ltd. 3,906,850 155,712,891 
Shinhan Financial Group Co. Ltd. sponsored ADR (c) 26,221 1,036,778 
SK Telecom Co. Ltd. 15,595 3,019,781 
SK Telecom Co. Ltd. sponsored ADR (c) 1,660,900 35,709,350 
Viatron Technologies, Inc. 593,068 11,612,780 
TOTAL KOREA (SOUTH)  1,877,244,134 
Mauritius - 0.3%   
MakeMyTrip Ltd. (b)(c) 1,185,696 39,602,246 
Mexico - 4.4%   
America Movil S.A.B. de CV Series L sponsored ADR 2,158,020 27,212,632 
Banregio Grupo Financiero S.A.B. de CV 3,524,971 19,575,941 
CEMEX S.A.B. de CV sponsored ADR 10,003,112 92,628,817 
El Puerto de Liverpool S.A.B. de CV Class C 2,970,519 18,743,179 
Fibra Uno Administracion SA de CV 27,167,400 38,848,724 
Gruma S.A.B. de CV Series B 6,580,510 88,536,394 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 5,470,600 42,385,443 
Grupo Comercial Chedraui S.A.B. de CV 12,170,788 22,417,338 
Grupo Financiero Banorte S.A.B. de CV Series O 18,191,818 87,192,664 
Infraestructura Energetica Nova S.A.B. de CV (c) 9,943,200 43,890,549 
Macquarie Mexican (REIT) (a) 71,871,913 70,756,965 
Promotora y Operadora de Infraestructura S.A.B. de CV 3,110,025 27,114,568 
Tenedora Nemak SA de CV 33,506,079 31,138,553 
Wal-Mart de Mexico SA de CV Series V 43,933,100 77,739,055 
TOTAL MEXICO  688,180,822 
Netherlands - 0.9%   
Altice NV Class B (b) 1,101,190 24,226,411 
Hangzhou Hikvision Digital Technology Co. Ltd. ELS (BNP Paribas Warrant Program) warrants 9/29/17 (b)(d) 10,192,900 38,702,997 
X5 Retail Group NV GDR (Reg. S) (b) 202,300 6,787,165 
Yandex NV Series A (b) 3,364,680 77,858,695 
TOTAL NETHERLANDS  147,575,268 
Nigeria - 0.3%   
Guaranty Trust Bank PLC 101,802,322 7,897,594 
Guaranty Trust Bank PLC GDR (Reg. S) 4,370,504 15,296,764 
Transnational Corp. of Nigeria PLC 1,235,285,783 3,234,791 
Zenith Bank PLC 494,649,406 25,420,608 
TOTAL NIGERIA  51,849,757 
Pakistan - 0.5%   
Habib Bank Ltd. 31,531,700 78,488,525 
Panama - 0.2%   
Copa Holdings SA Class A 383,000 37,338,670 
Philippines - 0.7%   
Alliance Global Group, Inc. 36,632,020 9,246,581 
Metropolitan Bank & Trust Co. 38,172,987 62,623,385 
Robinsons Land Corp. 84,767,270 42,827,695 
TOTAL PHILIPPINES  114,697,661 
Romania - 0.1%   
Banca Transilvania SA 39,141,395 22,182,019 
Russia - 5.9%   
Lukoil PJSC sponsored ADR 3,133,800 175,837,518 
Magnit OJSC GDR (Reg. S) 1,308,300 47,883,780 
MegaFon PJSC (b) 1,493,140 15,707,073 
MegaFon PJSC GDR 820,591 8,903,412 
MMC Norilsk Nickel PJSC sponsored ADR 5,671,700 91,711,389 
Mobile TeleSystems OJSC 8,390,700 38,430,383 
Mobile TeleSystems OJSC sponsored ADR 347,200 3,635,184 
NOVATEK OAO GDR (Reg. S) 858,600 108,698,760 
Rosneft Oil Co. OJSC 8,179,200 54,469,080 
RusHydro PJSC (b) 718,141,700 12,340,505 
Sberbank of Russia 41,054,860 117,348,781 
Sberbank of Russia sponsored ADR 15,509,231 180,837,633 
Sistema JSFC 63,543,900 25,251,715 
Sistema JSFC sponsored GDR 740,200 7,083,714 
Unipro PJSC 769,662,400 36,157,692 
TOTAL RUSSIA  924,296,619 
Singapore - 0.4%   
Ascendas Real Estate Investment Trust (b) 17,168,000 29,966,495 
First Resources Ltd. 28,640,700 39,221,308 
TOTAL SINGAPORE  69,187,803 
South Africa - 6.4%   
Alexander Forbes Group Holdings Ltd. 40,828,199 21,663,942 
Aspen Pharmacare Holdings Ltd. 2,461,782 56,269,303 
Barclays Africa Group Ltd. 3,578,497 42,174,479 
Bidcorp Ltd. 1,979,745 34,122,136 
Bidvest Group Ltd. 3,787,245 44,564,421 
FirstRand Ltd. 18,168,600 67,685,619 
Imperial Holdings Ltd. 5,668,081 70,166,426 
JSE Ltd. 1,872,592 22,421,076 
Life Healthcare Group Holdings Ltd. 16,565,700 41,306,681 
Naspers Ltd. Class N 3,281,360 522,759,905 
Nedbank Group Ltd. 2,246,100 38,706,262 
Telkom SA Ltd. 7,036,557 38,449,105 
TOTAL SOUTH AFRICA  1,000,289,355 
Taiwan - 7.9%   
Advantech Co. Ltd. 7,594,000 64,519,966 
Boardtek Electronics Corp. 10,592,000 10,187,717 
Chroma ATE, Inc. 6,959,000 18,272,939 
E.SUN Financial Holdings Co. Ltd. 81,721,420 48,340,366 
eMemory Technology, Inc. 953,000 12,221,670 
GlobalWafers Co. Ltd. 6,670,000 30,580,145 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 13,486,000 36,189,808 
King's Town Bank 28,696,000 26,312,679 
Largan Precision Co. Ltd. 1,573,900 224,550,905 
MediaTek, Inc. 6,751,000 46,210,817 
Taiwan Cement Corp. 66,350,000 75,304,660 
Taiwan Fertilizer Co. Ltd. 15,211,000 19,848,598 
Taiwan Semiconductor Manufacturing Co. Ltd. 80,084,284 479,590,260 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 469,801 14,521,549 
Universal Cement Corp. 25,285,914 19,943,043 
Vanguard International Semiconductor Corp. 11,379,000 20,539,514 
Wistron NeWeb Corp. 5,829,800 16,709,707 
Yuanta Financial Holding Co. Ltd. 165,121,206 65,645,083 
TOTAL TAIWAN  1,229,489,426 
Thailand - 1.8%   
Delta Electronics PCL (For. Reg.) 1,245,900 3,043,108 
Kasikornbank PCL (For. Reg.) 19,538,404 104,349,519 
PTT Global Chemical PCL (For. Reg.) 32,737,500 63,176,405 
PTT PCL (For. Reg.) 6,757,000 77,756,263 
Star Petroleum Refining PCL 75,862,700 26,794,773 
TOTAL THAILAND  275,120,068 
Turkey - 1.2%   
Aselsan A/S 8,562,000 30,997,156 
Bim Birlesik Magazalar A/S JSC 4,184,000 59,713,608 
Enka Insaat ve Sanayi A/S 14,312,550 21,773,329 
Tupras Turkiye Petrol Rafinelleri A/S 3,349,796 72,755,067 
TOTAL TURKEY  185,239,160 
United Arab Emirates - 1.4%   
DP World Ltd. 2,410,405 45,556,655 
Emaar Properties PJSC 44,531,285 90,083,435 
First Gulf Bank PJSC 24,029,181 84,722,670 
TOTAL UNITED ARAB EMIRATES  220,362,760 
United Kingdom - 0.5%   
Fresnillo PLC 1,999,500 36,548,341 
Mondi PLC 2,184,100 48,110,437 
TOTAL UNITED KINGDOM  84,658,778 
TOTAL COMMON STOCKS   
(Cost $12,259,416,862)  14,067,890,035 
Preferred Stocks - 7.5%   
Convertible Preferred Stocks - 0.1%   
Cayman Islands - 0.1%   
China Internet Plus Holdings Ltd. Series A-11 (b)(e) 7,577,282 23,951,031 
Nonconvertible Preferred Stocks - 7.4%   
Brazil - 6.1%   
Ambev SA sponsored ADR 25,032,200 134,923,558 
Banco do Estado Rio Grande do Sul SA 8,890,636 44,437,662 
Companhia Paranaense de Energia-Copel:   
(PN-B) 150,600 1,536,540 
(PN-B) sponsored ADR (c) 5,280,809 53,917,060 
Fibria Celulose SA sponsored ADR (c) 4,562,900 42,069,938 
Itau Unibanco Holding SA sponsored ADR 24,250,994 286,404,239 
Metalurgica Gerdau SA (PN) (a)(b) 37,824,122 67,459,479 
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) (b) 13,555,600 128,913,756 
Telefonica Brasil SA 4,158,500 61,590,300 
Vale SA (PN-A) sponsored ADR 13,845,000 134,158,050 
  955,410,582 
Korea (South) - 1.3%   
Hyundai Motor Co. Series 2 572,700 47,690,397 
Samsung Electronics Co. Ltd. 86,671 118,232,028 
Samsung Fire & Marine Insurance Co. Ltd. 191,001 30,848,477 
  196,770,902 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  1,152,181,484 
TOTAL PREFERRED STOCKS   
(Cost $865,609,853)  1,176,132,515 
 Principal Amount Value 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 0.35% to 0.48% 2/2/17 to 3/2/17
(Cost $15,684,231)(f) 		15,690,000 15,684,154 
 Shares Value 
Money Market Funds - 3.7%   
Fidelity Cash Central Fund, 0.62% (g) 399,653,470 399,733,401 
Fidelity Securities Lending Cash Central Fund 0.65% (g)(h) 180,839,640 180,875,808 
TOTAL MONEY MARKET FUNDS   
(Cost $580,557,449)  580,609,209 
TOTAL INVESTMENT PORTFOLIO - 101.2%   
(Cost $13,721,268,395)  15,840,315,913 
NET OTHER ASSETS (LIABILITIES) - (1.2)%  (187,371,092) 
NET ASSETS - 100%  $15,652,944,821 

Futures Contracts    
 Expiration Date Underlying Face Amount at Value Unrealized Appreciation/(Depreciation) 
Purchased    
Equity Index Contracts    
1,698 ICE E-mini MSCI Emerging Markets Index Contracts (United States) March 2017 77,691,990 $3,843,004 

The face value of futures purchased as a percentage of Net Assets is 0.5%

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Affiliated company

 (b) Non-income producing

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

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $38,702,997 or 0.2% of net assets.

 (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 $23,951,031 or 0.2% of net assets.

 (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 $2,745,176.

 (g) 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
China Internet Plus Holdings Ltd. Series A-11 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 $405,189 
Fidelity Securities Lending Cash Central Fund 369,943 
Total $775,132 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
Daou Technology, Inc. $44,852,464 $6,333,198 $-- $283,020 $44,779,965 
Direcional Engenharia SA 23,505,135 550,989 -- -- 26,261,436 
Fila Korea Ltd. 51,126,461 -- -- 115,451 40,062,296 
FPC Par Corretora de Seguros 51,039,845 6,095,228 -- 726,228 55,219,593 
Frontier Digital Ventures Ltd. 6,042,789 -- -- -- 5,315,751 
GP Investments Ltd. Class A (depositary receipt) 17,347,037 -- 697,647 -- 15,796,970 
InterPark INT Corp. 30,049,593 76,664 -- 529,647 24,443,256 
Korean Reinsurance Co. 75,492,743 -- 10,678,821 1,391,182 58,801,925 
Macquarie Mexican (REIT) 90,614,570 224,011 289,186 1,697,083 70,756,965 
Metalurgica Gerdau SA (PN) 56,285,896 -- -- -- 67,459,479 
Minerva SA 40,691,800 -- -- -- 48,966,543 
Smiles SA 137,502,361 -- 3,686,548 57,476 119,982,355 
SREI Infrastructure Finance Ltd. 45,678,231 -- -- -- 54,001,534 
Total $670,228,925 $13,280,090 $15,352,202 $4,800,087 $631,848,068 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $2,107,055,275 $1,439,412,334 $643,691,910 $23,951,031 
Consumer Staples 1,107,114,643 857,838,929 249,275,714 -- 
Energy 1,156,575,227 946,522,355 210,052,872 -- 
Financials 3,562,520,547 2,571,915,777 990,604,770 -- 
Health Care 361,177,954 300,948,780 60,229,174 -- 
Industrials 831,804,028 704,204,613 127,599,415 -- 
Information Technology 3,369,575,113 2,258,622,445 1,110,952,668 -- 
Materials 1,115,923,028 979,308,598 136,614,430 -- 
Real Estate 359,352,126 359,352,126 -- -- 
Telecommunication Services 781,872,605 623,515,482 158,357,123 -- 
Utilities 491,052,004 422,502,077 68,549,927 -- 
Government Obligations 15,684,154 -- 15,684,154 -- 
Money Market Funds 580,609,209 580,609,209 -- -- 
Total Investments in Securities: $15,840,315,913 $12,044,752,725 $3,771,612,157 $23,951,031 
Derivative Instruments:     
Assets     
Futures Contracts $3,843,004 $3,843,004 $-- $-- 
Total Assets $3,843,004 $3,843,004 $-- $-- 
Total Derivative Instruments: $3,843,004 $3,843,004 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $1,696,063,207 
Level 2 to Level 1 $106,990,777 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $13,780,757,212. Net unrealized appreciation aggregated $2,059,558,701, of which $2,857,110,016 related to appreciated investment securities and $797,551,315 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Value Fund

January 31, 2017







FIV-QTLY-0317
1.844602.110





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.4%   
 Shares Value 
Australia - 6.0%   
Ansell Ltd. 61,159 $1,102,987 
Australia & New Zealand Banking Group Ltd. 249,120 5,533,836 
Insurance Australia Group Ltd. 513,326 2,246,298 
Macquarie Group Ltd. 36,371 2,333,587 
Magellan Financial Group Ltd. 72,957 1,300,269 
Westpac Banking Corp. 296,759 7,144,023 
TOTAL AUSTRALIA  19,661,000 
Bailiwick of Jersey - 0.7%   
Wolseley PLC 37,157 2,301,144 
Belgium - 1.5%   
KBC Groep NV 72,420 4,692,207 
Canada - 1.0%   
Imperial Oil Ltd. 54,100 1,778,596 
Potash Corp. of Saskatchewan, Inc. 79,300 1,475,391 
TOTAL CANADA  3,253,987 
Finland - 1.1%   
Sampo Oyj (A Shares) 77,234 3,576,592 
France - 14.8%   
Atos Origin SA 36,612 3,892,586 
AXA SA 210,721 5,178,945 
Bouygues SA 40,871 1,484,867 
Capgemini SA 25,793 2,098,568 
Compagnie de St. Gobain 55,200 2,712,291 
Havas SA 220,503 1,981,863 
Natixis SA 300,500 1,779,278 
Sanofi SA 73,681 5,922,221 
Societe Generale Series A 103,400 5,054,973 
SR Teleperformance SA 20,000 2,139,785 
Total SA 194,062 9,818,601 
VINCI SA 59,500 4,168,543 
Vivendi SA 121,992 2,236,854 
TOTAL FRANCE  48,469,375 
Germany - 7.2%   
Axel Springer Verlag AG 31,600 1,661,946 
BASF AG 74,110 7,129,756 
Brenntag AG 11,813 685,300 
Deutsche Telekom AG 282,200 4,940,479 
Fresenius SE & Co. KGaA 33,800 2,661,004 
GEA Group AG 26,784 1,105,646 
HeidelbergCement Finance AG 24,500 2,357,552 
Linde AG 3,201 519,877 
SAP AG 26,460 2,419,773 
TOTAL GERMANY  23,481,333 
Hong Kong - 0.9%   
AIA Group Ltd. 161,000 996,808 
Power Assets Holdings Ltd. 192,000 1,839,718 
TOTAL HONG KONG  2,836,526 
Indonesia - 0.3%   
PT Bank Rakyat Indonesia Tbk 1,176,400 1,033,012 
Ireland - 1.7%   
Allergan PLC 6,880 1,505,963 
CRH PLC 67,371 2,336,811 
Medtronic PLC 21,800 1,657,236 
TOTAL IRELAND  5,500,010 
Israel - 0.5%   
Teva Pharmaceutical Industries Ltd. sponsored ADR 50,699 1,694,868 
Italy - 1.2%   
Intesa Sanpaolo SpA 1,007,100 2,365,538 
Telecom Italia SpA (a) 1,599,400 1,375,351 
TOTAL ITALY  3,740,889 
Japan - 23.1%   
AEON Financial Service Co. Ltd. 72,600 1,300,126 
Astellas Pharma, Inc. 124,100 1,665,642 
Daito Trust Construction Co. Ltd. 7,800 1,090,798 
Dentsu, Inc. 28,100 1,299,105 
East Japan Railway Co. 17,800 1,612,736 
Fuji Heavy Industries Ltd. 62,400 2,509,043 
Hoya Corp. 64,000 2,789,903 
Itochu Corp. 246,800 3,401,123 
Japan Tobacco, Inc. 44,400 1,431,370 
Kao Corp. 31,200 1,542,730 
KDDI Corp. 150,400 4,041,005 
Komatsu Ltd. 102,400 2,424,691 
Makita Corp. 34,500 2,398,592 
Mitsubishi UFJ Financial Group, Inc. 1,281,400 8,205,473 
Nintendo Co. Ltd. 4,400 900,600 
Nippon Telegraph & Telephone Corp. 71,300 3,149,486 
Nomura Holdings, Inc. 433,200 2,685,347 
OBIC Co. Ltd. 42,400 2,035,320 
Olympus Corp. 68,600 2,366,460 
ORIX Corp. 234,500 3,545,226 
Recruit Holdings Co. Ltd. 35,000 1,532,858 
Seven & i Holdings Co. Ltd. 60,200 2,404,055 
Shin-Etsu Chemical Co. Ltd. 32,500 2,805,575 
Shinsei Bank Ltd. 890,000 1,537,065 
Sony Corp. 89,200 2,700,775 
Sony Financial Holdings, Inc. 123,000 2,073,058 
Tokio Marine Holdings, Inc. 70,600 2,958,184 
Toyota Motor Corp. 154,400 8,978,802 
TOTAL JAPAN  75,385,148 
Netherlands - 3.2%   
ING Groep NV (Certificaten Van Aandelen) 348,090 5,000,645 
PostNL NV (a) 173,631 759,860 
RELX NV 172,805 2,918,803 
Wolters Kluwer NV 49,333 1,882,830 
TOTAL NETHERLANDS  10,562,138 
Norway - 1.0%   
Statoil ASA 178,500 3,328,524 
Spain - 3.2%   
Banco Santander SA (Spain) 659,900 3,667,952 
CaixaBank SA 829,697 3,028,219 
Iberdrola SA 597,513 3,773,977 
Iberdrola SA 13,675 86,122 
TOTAL SPAIN  10,556,270 
Sweden - 3.2%   
Investor AB (B Shares) 55,173 2,200,713 
Nordea Bank AB 443,800 5,362,881 
Swedbank AB (A Shares) 117,842 2,978,686 
TOTAL SWEDEN  10,542,280 
Switzerland - 7.4%   
ABB Ltd. (Reg.) 143,480 3,419,249 
Credit Suisse Group AG 112,642 1,719,495 
Lafargeholcim Ltd. (Reg.) 39,380 2,105,201 
Nestle SA 30,071 2,203,138 
Novartis AG 50,430 3,723,123 
Syngenta AG (Switzerland) 2,370 1,007,282 
UBS Group AG 334,458 5,388,118 
Zurich Insurance Group AG 16,415 4,727,088 
TOTAL SWITZERLAND  24,292,694 
United Kingdom - 17.6%   
AstraZeneca PLC (United Kingdom) 78,507 4,166,291 
Aviva PLC 677,941 4,081,804 
BAE Systems PLC 462,029 3,393,463 
BHP Billiton PLC 115,400 2,104,644 
BP PLC 1,094,674 6,537,983 
British American Tobacco PLC (United Kingdom) 30,700 1,895,048 
Bunzl PLC 103,266 2,713,791 
Compass Group PLC 163,839 2,915,852 
HSBC Holdings PLC sponsored ADR (b) 144,443 6,153,272 
Imperial Tobacco Group PLC 63,922 2,954,004 
Informa PLC 350,099 2,871,568 
ITV PLC 522,596 1,335,889 
Lloyds Banking Group PLC 5,968,400 4,895,295 
Micro Focus International PLC 89,200 2,406,982 
Rio Tinto PLC 112,160 4,969,024 
Royal Dutch Shell PLC Class B (United Kingdom) 109,038 3,079,717 
Vodafone Group PLC sponsored ADR 39,858 992,464 
TOTAL UNITED KINGDOM  57,467,091 
United States of America - 2.8%   
ConocoPhillips Co. 59,300 2,891,468 
Constellation Brands, Inc. Class A (sub. vtg.) 8,400 1,257,984 
Edgewell Personal Care Co. (a) 12,500 985,500 
Molson Coors Brewing Co. Class B 17,000 1,640,840 
S&P Global, Inc. 18,400 2,211,312 
TOTAL UNITED STATES OF AMERICA  8,987,104 
TOTAL COMMON STOCKS   
(Cost $329,889,052)  321,362,192 
Nonconvertible Preferred Stocks - 0.5%   
Spain - 0.5%   
Grifols SA Class B   
(Cost $1,436,568) 92,000 1,570,817 
Money Market Funds - 1.1%   
Fidelity Cash Central Fund, 0.62% (c) 1,981,586 1,981,982 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 1,730,304 1,730,650 
TOTAL MONEY MARKET FUNDS   
(Cost $3,712,632)  3,712,632 
TOTAL INVESTMENT PORTFOLIO - 100.0%   
(Cost $335,038,252)  326,645,641 
NET OTHER ASSETS (LIABILITIES) - 0.0%  152,004 
NET ASSETS - 100%  $326,797,645 

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

Legend

 (a) Non-income producing

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

 (c) 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.

 (d) Includes investment made with cash collateral received from securities on loan.


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 $2,331 
Fidelity Securities Lending Cash Central Fund 14,681 
Total $17,012 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $28,491,697 $11,659,414 $16,832,283 $-- 
Consumer Staples 16,314,669 12,216,483 4,098,186 -- 
Energy 27,434,889 4,670,064 22,764,825 -- 
Financials 116,955,325 61,323,299 55,632,026 -- 
Health Care 30,826,515 13,778,421 17,048,094 -- 
Industrials 41,055,572 23,885,931 17,169,641 -- 
Information Technology 13,753,829 10,433,456 3,320,373 -- 
Materials 26,811,113 16,393,352 10,417,761 -- 
Real Estate 1,090,798 1,090,798 -- -- 
Telecommunication Services 14,498,785 992,464 13,506,321 -- 
Utilities 5,699,817 86,122 5,613,695 -- 
Money Market Funds 3,712,632 3,712,632 -- -- 
Total Investments in Securities: $326,645,641 $160,242,436 $166,403,205 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $16,118,755 
Level 2 to Level 1 $4,202,642 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $336,000,644. Net unrealized depreciation aggregated $9,355,003, of which $16,388,348 related to appreciated investment securities and $25,743,351 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Pacific Basin Fund

January 31, 2017







PAF-QTLY-0317
1.813019.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.3%   
 Shares Value 
Australia - 13.2%   
1-Page Ltd. (a)(b) 872,167 122,369 
Aconex Ltd. (a)(b) 1,364,047 3,124,170 
ALS Ltd. 599,406 2,691,170 
Amcor Ltd. 447,130 4,849,179 
Arena (REIT) unit 2,192,142 3,108,913 
Asaleo Care Ltd. 2,957,365 3,386,727 
Australia & New Zealand Banking Group Ltd. 402,514 8,941,259 
Blue Sky Alternative Investments Ltd. 812,543 4,252,005 
Commonwealth Bank of Australia 240,378 14,886,836 
CSL Ltd. 120,544 10,276,376 
Hansen Technologies Ltd. 1,580,243 4,626,041 
HUB24 Ltd. (a) 987,809 3,618,415 
Magellan Financial Group Ltd. 227,615 4,056,646 
NIB Holdings Ltd. 1,269,267 4,437,642 
realestate.com.au Ltd. 150,218 5,987,915 
Reliance Worldwide Corp. Ltd. 1,334,827 2,935,765 
Sydney Airport unit 791,380 3,511,068 
Woodside Petroleum Ltd. 309,417 7,405,928 
TOTAL AUSTRALIA  92,218,424 
Bermuda - 3.1%   
Brilliance China Automotive Holdings Ltd. 2,248,000 3,166,849 
Cheung Kong Infrastructure Holdings Ltd. 1,211,000 9,738,506 
Hongkong Land Holdings Ltd. 875,100 5,906,925 
PAX Global Technology Ltd. (b) 4,667,000 3,252,350 
TOTAL BERMUDA  22,064,630 
Cayman Islands - 4.6%   
Alibaba Group Holding Ltd. sponsored ADR (a) 130,400 13,210,824 
China High Precision Automation Group Ltd. (a) 1,875,000 2 
China Metal Recycling (Holdings) Ltd. (a) 2,572,200 3 
Haitian International Holdings Ltd. 1,933,000 3,932,178 
International Housewares Retail Co. Ltd. 17,378,000 3,822,743 
NetEase, Inc. ADR 21,600 5,484,240 
Silergy Corp. 304,000 4,629,615 
SITC International Holdings Co. Ltd. 1,618,000 1,004,930 
TOTAL CAYMAN ISLANDS  32,084,535 
China - 6.6%   
Hangzhou Hikvision Digital Technology Co. Ltd. Class A 1,186,900 4,506,724 
Industrial & Commercial Bank of China Ltd. (H Shares) 13,110,000 8,015,259 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 1,381,079 9,599,007 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A 357,688 3,649,830 
Kweichow Moutai Co. Ltd. (A Shares) 261,750 13,100,337 
Shenzhen Expressway Co. (H Shares) 4,216,000 3,841,462 
Weifu High-Technology Co. Ltd. (B Shares) 1,382,213 3,263,625 
TOTAL CHINA  45,976,244 
Hong Kong - 5.2%   
AIA Group Ltd. 2,207,800 13,669,269 
China Resources Beer Holdings Co. Ltd. (a) 2,050,666 4,165,136 
Hang Seng Bank Ltd. 394,400 8,039,047 
Magnificent Hotel Investment Ltd. 90,048,000 2,062,337 
Techtronic Industries Co. Ltd. 2,368,500 8,191,717 
TOTAL HONG KONG  36,127,506 
India - 6.6%   
Asian Paints Ltd. 433,057 6,226,297 
Bharti Infratel Ltd. 1,673,826 7,283,864 
CCL Products (India) Ltd. (a) 138,566 615,507 
HDFC Bank Ltd. 377,736 8,130,332 
Housing Development Finance Corp. Ltd. 291,623 5,899,626 
Indraprastha Gas Ltd. 269,883 3,755,537 
Page Industries Ltd. 16,160 3,469,296 
Petronet LNG Ltd. 1,254,516 6,948,475 
Reliance Industries Ltd. 231,375 3,581,917 
TOTAL INDIA  45,910,851 
Indonesia - 3.0%   
PT Bank Central Asia Tbk 8,552,300 9,799,677 
PT Bank Rakyat Indonesia Tbk 8,236,100 7,232,224 
PT Gudang Garam Tbk 886,300 4,098,785 
TOTAL INDONESIA  21,130,686 
Israel - 0.8%   
Sarine Technologies Ltd. 4,391,400 5,764,423 
Japan - 36.8%   
Arcland Service Holdings Co. Ltd. 191,500 5,249,247 
Astellas Pharma, Inc. 655,800 8,801,999 
Broadleaf Co. Ltd. 293,902 1,827,289 
Create SD Holdings Co. Ltd. 211,800 4,667,066 
DaikyoNishikawa Corp. 12,300 160,681 
Daito Trust Construction Co. Ltd. 61,900 8,656,461 
Dentsu, Inc. 102,100 4,720,237 
East Japan Railway Co. 78,300 7,094,225 
Fanuc Corp. 41,400 8,127,929 
Fuji Heavy Industries Ltd. 256,700 10,321,654 
Harmonic Drive Systems, Inc. (b) 115,100 3,471,043 
Hoya Corp. 151,200 6,591,147 
Hulic Co. Ltd. 321,400 3,136,859 
Japan Tobacco, Inc. 233,600 7,530,812 
Kakaku.com, Inc. 304,100 5,505,096 
Kao Corp. 177,400 8,771,802 
KDDI Corp. 355,000 9,538,276 
Keyence Corp. 19,800 7,693,083 
Misumi Group, Inc. 262,700 4,909,193 
Mitsubishi Pencil Co. Ltd. 71,300 3,820,432 
Mitsui Fudosan Co. Ltd. 227,000 5,260,345 
Morinaga & Co. Ltd. 94,600 4,088,637 
Murata Manufacturing Co. Ltd. 42,000 5,674,520 
Nakanishi, Inc. 143,500 5,547,582 
Nidec Corp. 70,700 6,643,583 
Nihon M&A Center, Inc. 113,600 3,305,075 
Nihon Parkerizing Co. Ltd. 426,800 5,227,742 
Nitori Holdings Co. Ltd. 56,500 6,315,030 
Olympus Corp. 116,400 4,015,393 
Open House Co. Ltd. 191,800 4,487,960 
ORIX Corp. 513,500 7,763,214 
PALTAC Corp. 37,500 970,131 
PeptiDream, Inc. (a)(b) 48,600 2,410,415 
ProNexus, Inc. 276,400 2,585,054 
Rakuten, Inc. 432,400 4,317,873 
Shionogi & Co. Ltd. 155,400 7,466,522 
SK Kaken Co. Ltd. 48,000 4,625,277 
SMC Corp. 20,600 5,639,412 
SMS Co., Ltd. 210,300 5,040,048 
SoftBank Corp. 154,600 11,910,348 
Sosei Group Corp. (a)(b) 11,700 1,356,417 
Start Today Co. Ltd. 288,000 5,415,145 
Sundrug Co. Ltd. 72,300 4,981,791 
Sysmex Corp. 65,300 3,909,556 
The Suruga Bank Ltd. 251,900 5,755,930 
Tokyo Century Corp. 111,800 3,807,200 
Toshiba Plant Systems & Services Corp. 355,900 5,361,668 
Welcia Holdings Co. Ltd. 47,900 2,634,479 
TOTAL JAPAN  257,110,878 
Korea (South) - 2.7%   
BGFretail Co. Ltd. 53,240 4,239,284 
KEPCO Plant Service & Engineering Co. Ltd. 88,695 4,212,807 
LG Household & Health Care Ltd. 5,939 4,533,017 
Loen Entertainment, Inc. (a) 30,841 2,078,142 
Medy-Tox, Inc. 10,750 3,864,506 
TOTAL KOREA (SOUTH)  18,927,756 
New Zealand - 1.6%   
EBOS Group Ltd. 408,279 5,062,468 
Ryman Healthcare Group Ltd. 925,540 5,914,688 
TOTAL NEW ZEALAND  10,977,156 
Philippines - 1.1%   
Ayala Land, Inc. 5,832,700 4,173,804 
D&L Industries, Inc. 13,974,600 3,459,930 
TOTAL PHILIPPINES  7,633,734 
South Africa - 2.7%   
Naspers Ltd. Class N 118,300 18,846,605 
Taiwan - 6.8%   
Advantech Co. Ltd. 590,000 5,012,744 
CTCI Corp. 3,474,000 5,435,347 
ECLAT Textile Co. Ltd. 418,000 4,355,493 
Nien Made Enterprise Co. Ltd. 643,000 6,029,961 
Taiwan Semiconductor Manufacturing Co. Ltd. 3,690,000 22,097,823 
Voltronic Power Technology Corp. 329,703 4,487,229 
TOTAL TAIWAN  47,418,597 
Thailand - 1.0%   
Bangkok Bank PCL (For. Reg.) 679,000 3,510,318 
Thai Beverage PCL 6,086,700 3,735,762 
TOTAL THAILAND  7,246,080 
United States of America - 2.5%   
China Biologic Products, Inc. (a) 41,600 4,739,904 
Cognizant Technology Solutions Corp. Class A (a) 118,700 6,242,433 
GI Dynamics, Inc. CDI (a) 5,561,290 101,224 
ResMed, Inc. CDI 923,110 6,251,774 
TOTAL UNITED STATES OF AMERICA  17,335,335 
TOTAL COMMON STOCKS   
(Cost $587,840,366)  686,773,440 
Money Market Funds - 3.3%   
Fidelity Cash Central Fund, 0.62% (c) 15,617,392 15,620,515 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 7,365,060 7,366,533 
TOTAL MONEY MARKET FUNDS   
(Cost $22,985,988)  22,987,048 
TOTAL INVESTMENT PORTFOLIO - 101.6%   
(Cost $610,826,354)  709,760,488 
NET OTHER ASSETS (LIABILITIES) - (1.6)%  (11,376,430) 
NET ASSETS - 100%  $698,384,058 

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

Legend

 (a) Non-income producing

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

 (c) 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.

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


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 $12,216 
Fidelity Securities Lending Cash Central Fund 57,799 
Total $70,015 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $98,744,681 $62,654,430 $36,090,251 $-- 
Consumer Staples 74,198,972 70,033,836 4,165,136 -- 
Energy 17,936,320 17,936,320 -- -- 
Financials 121,814,899 83,960,992 37,853,907 -- 
Health Care 85,908,978 66,830,603 19,078,375 -- 
Industrials 88,773,993 71,867,494 16,906,499 -- 
Information Technology 98,049,371 72,699,196 25,350,173 2 
Materials 24,388,428 24,388,425 -- 3 
Real Estate 34,731,267 34,731,267 -- -- 
Telecommunication Services 28,732,488 7,283,864 21,448,624 -- 
Utilities 13,494,043 3,755,537 9,738,506 -- 
Money Market Funds 22,987,048 22,987,048 -- -- 
Total Investments in Securities: $709,760,488 $539,129,012 $170,631,471 $5 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $87,659,059 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $617,043,505. Net unrealized appreciation aggregated $92,716,983 of which $134,301,165 related to appreciated investment securities and $41,584,182 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Growth Fund

January 31, 2017







IGF-QTLY-0317
1.863101.109





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%   
 Shares Value 
Australia - 3.7%   
CSL Ltd. 595,290 $50,748,470 
Transurban Group unit 1,483,170 11,473,329 
TOTAL AUSTRALIA  62,221,799 
Austria - 1.8%   
Andritz AG 409,121 22,066,848 
Buwog-Gemeinnuetzige Wohnung 335,231 7,990,352 
TOTAL AUSTRIA  30,057,200 
Belgium - 4.0%   
Anheuser-Busch InBev SA NV 554,491 57,898,874 
KBC Groep NV 145,100 9,401,260 
TOTAL BELGIUM  67,300,134 
Canada - 1.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 170,000 7,787,666 
Franco-Nevada Corp. 130,300 8,475,383 
Pason Systems, Inc. 290,500 4,250,621 
PrairieSky Royalty Ltd. 176,000 4,125,264 
TOTAL CANADA  24,638,934 
Cayman Islands - 0.9%   
58.com, Inc. ADR (a)(b) 150,570 4,393,633 
Alibaba Group Holding Ltd. sponsored ADR (a) 101,600 10,293,096 
TOTAL CAYMAN ISLANDS  14,686,729 
Denmark - 1.4%   
Jyske Bank A/S (Reg.) 189,200 9,723,058 
Novo Nordisk A/S Series B sponsored ADR 396,800 14,352,256 
TOTAL DENMARK  24,075,314 
Finland - 0.4%   
Tikkurila Oyj 298,300 6,082,861 
France - 0.8%   
Essilor International SA 122,262 14,306,830 
Germany - 4.5%   
Bayer AG 307,400 34,145,727 
SAP AG 461,261 42,182,420 
TOTAL GERMANY  76,328,147 
Hong Kong - 2.2%   
AIA Group Ltd. 5,948,200 36,827,406 
India - 0.8%   
Housing Development Finance Corp. Ltd. 715,514 14,475,077 
Ireland - 3.5%   
CRH PLC sponsored ADR 986,666 34,059,710 
James Hardie Industries PLC CDI 1,662,985 26,081,778 
TOTAL IRELAND  60,141,488 
Isle of Man - 0.5%   
Playtech Ltd. 748,868 7,809,810 
Israel - 0.3%   
Azrieli Group 107,200 4,891,406 
Italy - 0.9%   
Azimut Holding SpA 234,600 4,203,962 
Interpump Group SpA 589,926 11,074,389 
TOTAL ITALY  15,278,351 
Japan - 12.9%   
Astellas Pharma, Inc. 1,279,200 17,169,132 
DENSO Corp. 472,700 20,518,136 
East Japan Railway Co. 197,800 17,921,300 
Hoya Corp. 397,000 17,306,120 
Japan Tobacco, Inc. 148,700 4,793,800 
Keyence Corp. 93,124 36,182,357 
Komatsu Ltd. 443,200 10,494,365 
Misumi Group, Inc. 666,200 12,449,579 
Mitsui Fudosan Co. Ltd. 698,000 16,174,980 
Nintendo Co. Ltd. 35,900 7,348,078 
Olympus Corp. 468,000 16,144,363 
OSG Corp. 452,100 9,373,537 
SHO-BOND Holdings Co. Ltd. 207,600 8,816,243 
USS Co. Ltd. 1,433,500 25,150,682 
TOTAL JAPAN  219,842,672 
Kenya - 0.4%   
Safaricom Ltd. 41,538,200 7,403,244 
Korea (South) - 0.7%   
BGFretail Co. Ltd. 149,021 11,865,935 
Mexico - 0.4%   
Fomento Economico Mexicano S.A.B. de CV sponsored ADR 93,555 7,038,143 
Netherlands - 1.9%   
ASML Holding NV (Netherlands) 264,200 32,080,189 
New Zealand - 0.4%   
Auckland International Airport Ltd. 1,230,548 6,175,515 
South Africa - 1.9%   
Clicks Group Ltd. 901,850 8,165,173 
Naspers Ltd. Class N 149,100 23,753,414 
TOTAL SOUTH AFRICA  31,918,587 
Spain - 5.1%   
Amadeus IT Holding SA Class A 556,900 25,697,164 
Hispania Activos Inmobiliarios SA 352,024 4,332,113 
Inditex SA 1,348,413 44,447,108 
Merlin Properties Socimi SA 412,400 4,609,899 
Prosegur Compania de Seguridad SA (Reg.) 1,211,149 7,609,274 
TOTAL SPAIN  86,695,558 
Sweden - 5.6%   
ASSA ABLOY AB (B Shares) 1,810,483 34,258,803 
Atlas Copco AB (A Shares) 641,400 20,553,603 
Fagerhult AB 385,544 12,407,613 
Svenska Cellulosa AB (SCA) (B Shares) 470,500 14,158,100 
Svenska Handelsbanken AB (A Shares) 881,120 13,153,982 
TOTAL SWEDEN  94,532,101 
Switzerland - 11.6%   
Nestle SA 1,379,734 101,085,570 
Novartis AG 339,452 25,060,907 
Roche Holding AG (participation certificate) 219,068 51,907,815 
Schindler Holding AG:   
(participation certificate) 85,157 16,178,582 
(Reg.) 18,350 3,449,144 
TOTAL SWITZERLAND  197,682,018 
Taiwan - 0.9%   
Taiwan Semiconductor Manufacturing Co. Ltd. 2,538,000 15,198,988 
Turkey - 0.1%   
Tupras Turkiye Petrol Rafinelleri A/S 75,000 1,628,944 
United Kingdom - 10.8%   
BAE Systems PLC 1,832,400 13,458,424 
Berendsen PLC 674,873 7,067,844 
British American Tobacco PLC (United Kingdom) 405,400 25,024,505 
Elementis PLC 1,253,900 4,225,871 
Howden Joinery Group PLC 775,100 3,679,936 
Informa PLC 1,963,612 16,105,860 
InterContinental Hotel Group PLC ADR (b) 793,746 36,853,627 
Prudential PLC 1,347,845 26,119,564 
Reckitt Benckiser Group PLC 435,145 37,337,889 
Rightmove PLC 89,200 4,510,987 
Shaftesbury PLC 377,933 4,167,229 
Spectris PLC 172,000 5,229,808 
TOTAL UNITED KINGDOM  183,781,544 
United States of America - 18.8%   
Alphabet, Inc. Class A (a) 34,236 28,080,025 
Autoliv, Inc. (b) 140,027 16,195,523 
Berkshire Hathaway, Inc. Class B (a) 129,184 21,204,262 
China Biologic Products, Inc. (a) 88,666 10,102,604 
Domino's Pizza, Inc. 90,490 15,794,125 
Martin Marietta Materials, Inc. 80,700 18,528,720 
MasterCard, Inc. Class A 349,400 37,151,702 
Mohawk Industries, Inc. (a) 89,300 19,274,512 
Molson Coors Brewing Co. Class B 99,500 9,603,740 
Moody's Corp. 108,200 11,217,094 
MSCI, Inc. 126,500 10,467,875 
Philip Morris International, Inc. 260,308 25,023,408 
PPG Industries, Inc. 72,400 7,240,724 
PriceSmart, Inc. 79,500 6,733,650 
ResMed, Inc. (b) 169,700 11,461,538 
S&P Global, Inc. 113,100 13,592,358 
Sherwin-Williams Co. 49,700 15,099,357 
Visa, Inc. Class A 511,660 42,319,399 
TOTAL UNITED STATES OF AMERICA  319,090,616 
TOTAL COMMON STOCKS   
(Cost $1,506,342,460)  1,674,055,540 
Money Market Funds - 4.5%   
Fidelity Cash Central Fund, 0.62% (c) 20,261,463 20,265,515 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 55,569,760 55,580,874 
TOTAL MONEY MARKET FUNDS   
(Cost $75,836,822)  75,846,389 
TOTAL INVESTMENT PORTFOLIO - 103.1%   
(Cost $1,582,179,282)  1,749,901,929 
NET OTHER ASSETS (LIABILITIES) - (3.1)%  (53,058,116) 
NET ASSETS - 100%  $1,696,843,813 

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

Legend

 (a) Non-income producing

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

 (c) 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.

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


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 $58,586 
Fidelity Securities Lending Cash Central Fund 97,378 
Total $155,964 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $218,092,987 $194,339,573 $23,753,414 $-- 
Consumer Staples 316,516,453 81,011,515 235,504,938 -- 
Energy 10,004,829 10,004,829 -- -- 
Financials 170,385,898 94,284,946 76,100,952 -- 
Health Care 262,705,762 83,673,711 179,032,051 -- 
Industrials 228,508,328 170,296,736 58,211,592 -- 
Information Technology 298,477,656 201,667,981 96,809,675 -- 
Materials 119,794,404 119,794,404 -- -- 
Real Estate 42,165,979 42,165,979 -- -- 
Telecommunication Services 7,403,244 7,403,244 -- -- 
Money Market Funds 75,846,389 75,846,389 -- -- 
Total Investments in Securities: $1,749,901,929 $1,080,489,307 $669,412,622 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $182,619,908 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,587,254,311. Net unrealized appreciation aggregated $162,647,618, of which $219,085,354 related to appreciated investment securities and $56,437,736 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Series International Small Cap Fund

January 31, 2017







SCF-S-QTLY-0317
1.907961.107





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 90.4%   
 Shares Value 
Australia - 2.8%   
Austal Ltd. 1,811,336 $2,197,948 
Beacon Lighting Group Ltd. (a) 6,947,387 8,430,237 
Credit Corp. Group Ltd. 79,931 1,062,057 
DuluxGroup Ltd. 4,869,853 22,418,310 
Imdex Ltd. (b) 12,662,412 6,530,158 
John Fairfax Holdings Ltd. 5,764,250 3,715,866 
Nanosonics Ltd. (b) 393,135 858,682 
Pact Group Holdings Ltd. 250,000 1,238,088 
RCG Corp. Ltd. (a) 18,553,658 19,207,044 
Reckon Ltd. 2,155,710 2,632,174 
SomnoMed Ltd. (b) 160,453 435,641 
TFS Corp. Ltd. (a) 15,620,705 18,599,386 
TOTAL AUSTRALIA  87,325,591 
Austria - 1.8%   
Andritz AG 493,024 26,592,343 
Buwog-Gemeinnuetzige Wohnung 792,695 18,894,171 
IMMOFINANZ Immobilien Anlagen AG (a) 1,790,851 3,282,614 
RHI AG 42,500 1,045,806 
Wienerberger AG 116,600 2,248,033 
Zumtobel AG 260,802 4,375,066 
TOTAL AUSTRIA  56,438,033 
Bailiwick of Jersey - 0.4%   
Integrated Diagnostics Holdings PLC 4,260,832 10,929,034 
IWG PLC 780,100 2,450,470 
TOTAL BAILIWICK OF JERSEY  13,379,504 
Belgium - 1.4%   
Econocom Group SA 58,186 877,481 
Gimv NV 140,309 7,823,093 
KBC Ancora (b) 779,573 34,322,578 
TOTAL BELGIUM  43,023,152 
Bermuda - 0.6%   
APT Satellite Holdings Ltd. 595,000 298,885 
BW Offshore Ltd. (b) 240,000 698,347 
Vostok New Ventures Ltd. SDR (b) 2,290,942 18,595,521 
TOTAL BERMUDA  19,592,753 
Brazil - 0.0%   
Banco ABC Brasil SA rights 2/2/17 (b) 36,658 70,440 
Magnesita Refratarios SA (b) 77,200 600,235 
TOTAL BRAZIL  670,675 
Canada - 2.1%   
McCoy Global, Inc. (b) 1,111,450 1,622,866 
New Look Vision Group, Inc. 547,600 12,527,994 
Pason Systems, Inc. 1,105,900 16,181,622 
PrairieSky Royalty Ltd. 289,200 6,778,559 
Savanna Energy Services Corp. (b) 1,100,000 1,690,682 
ShawCor Ltd. Class A 393,300 10,986,709 
Tesco Corp. (b) 1,198,193 10,304,460 
Total Energy Services, Inc. 81,000 920,023 
Whitecap Resources, Inc. 220,000 1,751,547 
ZCL Composites, Inc. 210,000 2,007,608 
TOTAL CANADA  64,772,070 
Cayman Islands - 0.4%   
58.com, Inc. ADR (b) 241,400 7,044,052 
SITC International Holdings Co. Ltd. 4,312,000 2,678,158 
Value Partners Group Ltd. 3,921,000 3,366,181 
TOTAL CAYMAN ISLANDS  13,088,391 
Denmark - 2.3%   
Jyske Bank A/S (Reg.) 551,719 28,353,044 
Royal Unibrew A/S 31,900 1,210,065 
Scandinavian Tobacco Group A/S 952,570 16,359,127 
Spar Nord Bank A/S 2,155,354 25,109,736 
TOTAL DENMARK  71,031,972 
Finland - 0.8%   
Olvi PLC (A Shares) 106,600 3,256,614 
Oriola-KD Oyj 195,100 924,580 
Tikkurila Oyj 977,930 19,941,709 
TOTAL FINLAND  24,122,903 
France - 2.4%   
Elis SA (a) 1,130,000 20,230,964 
Elis SA rights 2/3/17 (a)(b) 1,544,956 1,589,394 
Ipsen SA 15,400 1,191,962 
Laurent-Perrier Group SA 135,868 10,120,196 
Parrot SA (a)(b) 360,018 3,361,731 
Rubis 11,900 1,001,221 
Somfy SA 2,400 1,033,729 
Vetoquinol SA 286,927 15,486,885 
Virbac SA (a)(b) 118,600 21,848,098 
TOTAL FRANCE  75,864,180 
Germany - 4.6%   
CompuGroup Medical AG 1,347,483 52,947,728 
CTS Eventim AG 1,536,196 53,240,479 
Fielmann AG 211,790 14,778,469 
MLP AG 777,245 4,010,592 
Nexus AG 519,508 11,036,719 
Scout24 Holding GmbH (b) 68,600 2,444,142 
SMA Solar Technology AG (a) 134,233 3,442,207 
TOTAL GERMANY  141,900,336 
Greece - 0.2%   
Fourlis Holdings SA (b) 557,400 2,623,470 
Motor Oil (HELLAS) Corinth Refineries SA 175,000 2,512,536 
Mytilineos Holdings SA (b) 310,800 2,160,675 
TOTAL GREECE  7,296,681 
India - 0.6%   
Jyothy Laboratories Ltd. (b) 3,611,337 18,649,080 
Torrent Pharmaceuticals Ltd. 37,035 713,081 
TOTAL INDIA  19,362,161 
Ireland - 1.6%   
FBD Holdings PLC (b) 1,298,400 11,170,934 
James Hardie Industries PLC CDI 2,374,307 37,237,947 
United Drug PLC (United Kingdom) 201,300 1,623,239 
TOTAL IRELAND  50,032,120 
Isle of Man - 0.7%   
Playtech Ltd. 2,162,347 22,550,728 
Israel - 1.9%   
Azrieli Group 345,479 15,763,788 
Ituran Location & Control Ltd. 918,362 25,300,873 
Strauss Group Ltd. 1,209,555 19,451,453 
TOTAL ISRAEL  60,516,114 
Italy - 3.0%   
Astm SpA 67,100 761,286 
Azimut Holding SpA 1,636,764 29,330,320 
Beni Stabili SpA SIIQ 19,947,820 11,219,043 
Cerved Information Solutions SpA 400,105 3,263,105 
Interpump Group SpA 2,688,666 50,472,996 
TOTAL ITALY  95,046,750 
Japan - 26.3%   
Aeon Delight Co. Ltd. 43,000 1,235,807 
Ain Holdings, Inc. 20,300 1,488,655 
Aoki Super Co. Ltd. 108,000 1,345,815 
Arcland Service Holdings Co. Ltd. 46,900 1,285,586 
Artnature, Inc. (c) 1,852,900 12,389,864 
Asahi Co. Ltd. 1,126,600 13,230,640 
Asante, Inc. 188,300 2,860,105 
Autobacs Seven Co. Ltd. 807,500 12,515,499 
Azbil Corp. 1,579,500 47,632,606 
Broadleaf Co. Ltd. 635,400 3,950,499 
Central Automotive Products Ltd. 119,000 1,218,351 
Chugoku Marine Paints Ltd. 215,000 1,567,133 
Coca-Cola Central Japan Co. Ltd. 610,200 13,289,184 
Daiichikosho Co. Ltd. 603,100 23,956,279 
Daikokutenbussan Co. Ltd. 569,400 26,425,082 
Funai Soken Holdings, Inc. 534,000 8,281,233 
GCA Savvian Group Corp. 1,935,687 14,143,493 
GMO Internet, Inc. 253,300 3,676,899 
Goldcrest Co. Ltd. 1,534,110 27,255,555 
Iwatsuka Confectionary Co. Ltd. 158,600 6,229,661 
Kaken Pharmaceutical Co. Ltd. 20,000 1,013,196 
Kamigumi Co. Ltd. 225,700 2,194,833 
Kobayashi Pharmaceutical Co. Ltd. 706,600 31,478,151 
Konoike Transport Co. Ltd. 171,600 2,266,014 
Koshidaka Holdings Co. Ltd. 384,200 7,890,885 
Kusuri No Aoki Holdings Co. Ltd. 200,700 8,576,543 
Lasertec Corp. 942,200 19,660,112 
Leopalace21 Corp. 555,700 3,189,209 
Mandom Corp. 27,000 1,272,164 
Medikit Co. Ltd. 276,400 11,383,048 
Miraca Holdings, Inc. 15,300 699,212 
Miraial Co. Ltd. 173,500 1,484,377 
Mirait Holdings Corp. 151,300 1,380,205 
Misumi Group, Inc. 1,355,900 25,338,314 
Mitsuboshi Belting Ltd. 145,000 1,261,093 
Monex Group, Inc. 1,297,148 3,435,012 
Morinaga & Co. Ltd. 56,300 2,433,301 
Nagaileben Co. Ltd. 1,488,300 33,678,208 
Nakanishi, Inc. 29,700 1,148,176 
Nakano Refrigerators Co. Ltd. 40,000 1,073,421 
ND Software Co. Ltd. 222,536 2,177,861 
Nihon Parkerizing Co. Ltd. 3,428,800 41,998,321 
Nitto Kohki Co. Ltd. 61,600 1,369,374 
NOF Corp. 275,000 2,883,713 
NS Tool Co. Ltd. 4,000 60,969 
OBIC Co. Ltd. 928,400 44,565,831 
OSG Corp. (a) 2,026,500 42,016,088 
PALTAC Corp. 16,000 413,923 
Paramount Bed Holdings Co. Ltd. 631,660 25,398,427 
ProNexus, Inc. 1,241,000 11,606,554 
S Foods, Inc. (a) 78,600 2,133,637 
Sacs Bar Holdings, Inc. 118,300 1,285,573 
Sakai Moving Service Co. Ltd. 13,100 348,645 
San-A Co. Ltd. 49,500 2,292,844 
San-Ai Oil Co. Ltd. 1,952,400 15,009,151 
Sekisui Jushi Corp. 130,000 2,073,598 
Shinko Plantech Co. Ltd. 138,200 990,203 
Shinsei Bank Ltd. 1,905,000 3,290,010 
Ship Healthcare Holdings, Inc. 24,200 641,918 
SHO-BOND Holdings Co. Ltd. 778,800 33,073,652 
Shoei Co. Ltd. (c) 733,100 16,803,319 
SK Kaken Co. Ltd. 197,000 18,982,907 
Software Service, Inc. 168,400 7,859,959 
Techno Medica Co. Ltd. 283,000 5,195,811 
The Monogatari Corp. (a) 219,000 7,942,653 
TKC Corp. 684,400 20,669,595 
Tocalo Co. Ltd. 458,400 10,413,568 
Toshiba Plant Systems & Services Corp. 104,300 1,571,290 
Tsuruha Holdings, Inc. 28,470 2,672,766 
USS Co. Ltd. 3,966,500 69,592,031 
Welcia Holdings Co. Ltd. 221,700 12,193,402 
Workman Co. Ltd. 540,700 16,209,986 
Yamato Kogyo Co. Ltd. 300,100 8,983,598 
Yuasa Trading Co. Ltd. 73,900 1,999,508 
Yusen Logistics Co. Ltd. 187,000 1,856,585 
TOTAL JAPAN  821,410,690 
Korea (South) - 1.7%   
BGFretail Co. Ltd. 556,522 44,313,578 
iMarketKorea, Inc. 86,705 786,766 
Leeno Industrial, Inc. 203,525 6,936,535 
TOTAL KOREA (SOUTH)  52,036,879 
Luxembourg - 0.1%   
B&M European Value Retail S.A. 497,334 1,878,815 
Marshall Islands - 0.0%   
StealthGas, Inc. (b) 65,000 252,850 
Mexico - 0.4%   
Consorcio ARA S.A.B. de CV 38,033,895 12,183,395 
Netherlands - 2.5%   
Aalberts Industries NV 984,900 34,500,826 
Arcadis NV 64,918 880,893 
BinckBank NV 560,793 3,210,915 
Intertrust NV 67,500 1,257,307 
Takeaway.com Holding BV (d) 222,278 7,269,258 
Van Lanschot NV unit 192,384 4,149,417 
VastNed Retail NV 706,428 26,053,854 
TOTAL NETHERLANDS  77,322,470 
New Zealand - 0.1%   
EBOS Group Ltd. 105,894 1,313,036 
Trade Maine Group Ltd. 390,470 1,449,628 
TOTAL NEW ZEALAND  2,762,664 
Norway - 1.0%   
ABG Sundal Collier ASA 4,536,025 2,870,745 
Borregaard ASA 275,000 3,025,715 
Kongsberg Gruppen ASA 919,658 15,164,007 
Schibsted ASA (A Shares) 103,000 2,723,589 
Skandiabanken ASA (b) 427,439 3,744,214 
Spectrum ASA (b) 450,000 2,155,055 
TOTAL NORWAY  29,683,325 
Philippines - 0.5%   
Jollibee Food Corp. 3,646,500 15,091,142 
Singapore - 0.1%   
Boustead Singapore Ltd. 3,504,100 2,013,922 
Hour Glass Ltd. 1,558,300 685,526 
TOTAL SINGAPORE  2,699,448 
South Africa - 0.7%   
Clicks Group Ltd. 2,305,481 20,873,372 
Spain - 2.2%   
Baron de Ley SA (b) 13,178 1,564,822 
Hispania Activos Inmobiliarios SA 1,100,650 13,544,929 
Merlin Properties Socimi SA 1,590,500 17,778,963 
Prosegur Compania de Seguridad SA (Reg.) 5,492,886 34,510,100 
TOTAL SPAIN  67,398,814 
Sweden - 4.3%   
Addlife AB (b) 525,700 8,744,538 
AddTech AB (B Shares) 1,071,383 18,495,139 
Fagerhult AB 1,660,750 53,446,414 
Granges AB 260,000 2,883,241 
Intrum Justitia AB 145,035 4,884,740 
Loomis AB (B Shares) 607,000 17,744,155 
Mekonomen AB 58,400 1,248,505 
Saab AB (B Shares) 662,300 27,045,942 
TOTAL SWEDEN  134,492,674 
Switzerland - 0.2%   
Daetwyler Holdings AG 8,040 1,222,798 
EDAG Engineering Group AG 49,000 835,484 
Tecan Group AG 12,002 1,877,530 
Vontobel Holdings AG 40,883 2,286,771 
TOTAL SWITZERLAND  6,222,583 
Taiwan - 0.3%   
Addcn Technology Co. Ltd. 1,568,570 9,756,258 
United Kingdom - 17.6%   
AA PLC 3,720,588 11,415,739 
Alliance Pharma PLC 13,809,028 8,685,879 
Bellway PLC 280,494 8,765,078 
Berendsen PLC 3,208,109 33,598,044 
Cineworld Group PLC 269,000 2,076,096 
Countrywide PLC 1,676,069 3,695,137 
Dechra Pharmaceuticals PLC 1,831,663 33,549,619 
Dignity PLC 48,107 1,479,680 
Domino's Pizza UK & IRL PLC 4,022,000 18,331,206 
Elementis PLC 9,733,382 32,803,269 
Great Portland Estates PLC 2,704,000 21,073,110 
H&T Group PLC 1,339,680 4,769,448 
Hill & Smith Holdings PLC 66,530 1,009,359 
Hilton Food Group PLC 911,038 7,650,123 
Howden Joinery Group PLC 5,262,300 24,983,780 
Informa PLC 5,100,785 41,837,455 
InterContinental Hotel Group PLC ADR 346,021 16,065,755 
ITE Group PLC 8,334,572 16,356,431 
Just Eat Holding Ltd. (b) 1,757,525 11,928,164 
LivaNova PLC (b) 26,100 1,255,541 
Luxfer Holdings PLC sponsored ADR 250,000 2,730,000 
Mears Group PLC 504,312 3,216,532 
Mitie Group PLC 658,691 1,663,067 
PayPoint PLC 99,400 1,202,310 
Polypipe Group PLC 391,000 1,662,548 
Rightmove PLC 498,000 25,184,657 
Shaftesbury PLC 2,922,755 32,227,378 
Sinclair Pharma PLC (b) 2,315,402 939,370 
Spectris PLC 1,791,116 54,460,422 
Spirax-Sarco Engineering PLC 992,628 53,757,655 
Ted Baker PLC 364,567 13,034,131 
Topps Tiles PLC (c) 9,918,455 10,418,643 
Tullett Prebon PLC 705,016 4,121,471 
Ultra Electronics Holdings PLC 1,039,010 24,141,667 
Unite Group PLC 2,318,563 17,106,752 
Zoopla Property Group PLC 405,923 1,870,004 
TOTAL UNITED KINGDOM  549,065,520 
United States of America - 4.8%   
Autoliv, Inc. 118,401 13,694,260 
China Biologic Products, Inc. (b) 274,308 31,254,654 
Compass Minerals International, Inc. 29,000 2,424,400 
Domino's Pizza, Inc. 125,800 21,957,132 
Energizer Holdings, Inc. 155,232 7,834,559 
Kennedy-Wilson Holdings, Inc. 335,688 6,864,820 
Martin Marietta Materials, Inc. 69,080 15,860,768 
Mohawk Industries, Inc. (b) 53,962 11,647,158 
PriceSmart, Inc. 257,926 21,846,332 
ResMed, Inc. 219,700 14,838,538 
Resources Connection, Inc. 53,500 893,450 
Utah Medical Products, Inc. 10,150 631,330 
TOTAL UNITED STATES OF AMERICA  149,747,401 
TOTAL COMMON STOCKS   
(Cost $2,265,491,079)  2,818,892,414 
Nonconvertible Preferred Stocks - 1.7%   
Brazil - 0.1%   
Banco ABC Brasil SA 639,754 3,360,074 
Germany - 1.6%   
Sartorius AG (non-vtg.) 683,172 47,936,472 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $24,165,532)  51,296,546 
Money Market Funds - 9.0%   
Fidelity Cash Central Fund, 0.62% (e) 236,416,271 236,463,554 
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f) 44,841,090 44,850,059 
TOTAL MONEY MARKET FUNDS   
(Cost $281,284,586)  281,313,613 
TOTAL INVESTMENT PORTFOLIO - 101.1%   
(Cost $2,570,941,197)  3,151,502,573 
NET OTHER ASSETS (LIABILITIES) - (1.1)%  (33,411,982) 
NET ASSETS - 100%  $3,118,090,591 

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

Legend

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

 (b) Non-income producing

 (c) Affiliated company

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $7,269,258 or 0.2% of net assets.

 (e) 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.

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


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 $269,134 
Fidelity Securities Lending Cash Central Fund 265,111 
Total $534,245 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
Artnature, Inc. $12,038,036 $-- $671,551 $-- $12,389,864 
Shoei Co. Ltd. 13,379,931 -- -- 42,608 16,803,319 
Topps Tiles PLC 9,638,880 1,391,565 -- 282,593 10,418,643 
Total $35,056,847 $1,391,565 $671,551 $325,201 $39,611,826 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $520,172,495 $520,172,495 $-- $-- 
Consumer Staples 280,991,263 280,991,263 -- -- 
Energy 75,876,140 75,876,140 -- -- 
Financials 232,218,298 228,781,677 3,436,621 -- 
Health Care 358,217,972 358,217,972 -- -- 
Industrials 621,751,920 619,073,762 2,678,158 -- 
Information Technology 319,429,347 319,429,347 -- -- 
Materials 242,282,096 242,282,096 -- -- 
Real Estate 217,949,323 217,949,323 -- -- 
Telecommunication Services 298,885 -- 298,885 -- 
Utilities 1,001,221 1,001,221 -- -- 
Money Market Funds 281,313,613 281,313,613 -- -- 
Total Investments in Securities: $3,151,502,573 $3,145,088,909 $6,413,664 $-- 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $2,600,496,997. Net unrealized appreciation aggregated $551,005,576, of which $731,020,188 related to appreciated investment securities and $180,014,612 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Series International Growth Fund

January 31, 2017







GSV-S-QTLY-0317
1.907948.107





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.6%   
 Shares Value 
Australia - 3.7%   
CSL Ltd. 4,766,297 $406,326,802 
Transurban Group unit 11,271,639 87,193,792 
TOTAL AUSTRALIA  493,520,594 
Austria - 1.7%   
Andritz AG 3,111,498 167,825,545 
Buwog-Gemeinnuetzige Wohnung 2,568,763 61,227,391 
TOTAL AUSTRIA  229,052,936 
Belgium - 3.9%   
Anheuser-Busch InBev SA NV 4,369,581 456,263,167 
KBC Groep NV 1,128,705 73,130,592 
TOTAL BELGIUM  529,393,759 
Canada - 1.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 1,302,400 59,662,681 
Franco-Nevada Corp. 1,002,400 65,201,257 
Pason Systems, Inc. 2,537,269 37,125,534 
PrairieSky Royalty Ltd. 1,394,300 32,680,999 
TOTAL CANADA  194,670,471 
Cayman Islands - 0.8%   
58.com, Inc. ADR (a)(b) 1,127,100 32,888,778 
Alibaba Group Holding Ltd. sponsored ADR (a) 790,600 80,095,686 
TOTAL CAYMAN ISLANDS  112,984,464 
Denmark - 1.3%   
Jyske Bank A/S (Reg.) 1,326,300 68,159,049 
Novo Nordisk A/S Series B sponsored ADR 3,135,081 113,395,880 
TOTAL DENMARK  181,554,929 
Finland - 0.3%   
Tikkurila Oyj 1,985,479 40,487,402 
France - 0.8%   
Essilor International SA 968,544 113,336,889 
Germany - 4.5%   
Bayer AG 2,418,700 268,667,108 
SAP AG 3,631,926 332,140,432 
TOTAL GERMANY  600,807,540 
Hong Kong - 2.1%   
AIA Group Ltd. 45,615,000 282,418,565 
India - 0.8%   
Housing Development Finance Corp. Ltd. 5,619,297 113,680,172 
Ireland - 3.5%   
CRH PLC sponsored ADR 7,608,805 262,655,949 
James Hardie Industries PLC CDI 12,995,236 203,813,539 
TOTAL IRELAND  466,469,488 
Isle of Man - 0.5%   
Playtech Ltd. 5,940,274 61,950,048 
Israel - 0.3%   
Azrieli Group 919,635 41,961,831 
Italy - 0.8%   
Azimut Holding SpA 1,632,606 29,255,810 
Interpump Group SpA 4,116,049 77,268,551 
TOTAL ITALY  106,524,361 
Japan - 12.7%   
Astellas Pharma, Inc. 10,274,500 137,902,009 
DENSO Corp. 3,693,200 160,307,973 
East Japan Railway Co. 1,524,900 138,160,721 
Hoya Corp. 3,123,100 136,142,930 
Japan Tobacco, Inc. 1,227,800 39,581,897 
Keyence Corp. 741,800 288,218,634 
Komatsu Ltd. 3,414,100 80,841,179 
Misumi Group, Inc. 5,138,500 96,025,463 
Mitsui Fudosan Co. Ltd. 5,299,000 122,795,443 
Nintendo Co. Ltd. 277,100 56,717,339 
Olympus Corp. 3,702,100 127,709,499 
OSG Corp. 3,523,500 73,053,879 
SHO-BOND Holdings Co. Ltd. (c) 1,551,100 65,871,265 
USS Co. Ltd. 11,117,800 195,061,215 
TOTAL JAPAN  1,718,389,446 
Kenya - 0.4%   
Safaricom Ltd. 333,469,400 59,433,371 
Korea (South) - 0.7%   
BGFretail Co. Ltd. 1,214,203 96,682,035 
Mexico - 0.4%   
Fomento Economico Mexicano S.A.B. de CV sponsored ADR 782,412 58,860,855 
Netherlands - 1.9%   
ASML Holding NV (Netherlands) 2,088,300 253,569,485 
New Zealand - 0.1%   
Auckland International Airport Ltd. 3,517,032 17,650,253 
South Africa - 1.8%   
Clicks Group Ltd. 7,052,484 63,851,803 
Naspers Ltd. Class N 1,155,210 184,038,774 
TOTAL SOUTH AFRICA  247,890,577 
Spain - 5.1%   
Amadeus IT Holding SA Class A 4,342,500 200,376,966 
Hispania Activos Inmobiliarios SA 2,597,710 31,968,199 
Inditex SA 10,681,154 352,077,887 
Merlin Properties Socimi SA 3,236,200 36,174,964 
Prosegur Compania de Seguridad SA (Reg.) 9,714,089 61,030,610 
TOTAL SPAIN  681,628,626 
Sweden - 5.1%   
ASSA ABLOY AB (B Shares) 15,029,217 284,389,849 
Atlas Copco AB (A Shares) 5,105,500 163,605,269 
Fagerhult AB 956,732 30,789,640 
Svenska Cellulosa AB (SCA) (B Shares) 3,520,800 105,946,518 
Svenska Handelsbanken AB (A Shares) 6,811,013 101,679,616 
TOTAL SWEDEN  686,410,892 
Switzerland - 11.4%   
Nestle SA 10,648,888 780,185,890 
Novartis AG 2,686,178 198,313,919 
Roche Holding AG (participation certificate) 1,717,448 406,946,581 
Schindler Holding AG:   
(participation certificate) 661,566 125,687,846 
(Reg.) 154,309 29,004,572 
TOTAL SWITZERLAND  1,540,138,808 
Taiwan - 0.9%   
Taiwan Semiconductor Manufacturing Co. Ltd. 19,514,000 116,860,935 
Turkey - 0.1%   
Tupras Turkiye Petrol Rafinelleri A/S 608,624 13,218,859 
United Kingdom - 10.4%   
BAE Systems PLC 14,493,500 106,450,374 
Berendsen PLC 5,439,100 56,962,878 
British American Tobacco PLC (United Kingdom) 3,198,000 197,405,938 
Elementis PLC 4,749,975 16,008,280 
Howden Joinery Group PLC 6,596,900 31,320,049 
Informa PLC 14,695,030 120,530,987 
InterContinental Hotel Group PLC ADR 5,700,052 264,653,414 
Prudential PLC 10,686,830 207,097,508 
Reckitt Benckiser Group PLC 3,413,687 292,913,552 
Rightmove PLC 667,770 33,770,197 
Shaftesbury PLC 3,385,400 37,328,673 
Spectris PLC 1,125,000 34,206,592 
TOTAL UNITED KINGDOM  1,398,648,442 
United States of America - 18.2%   
Alphabet, Inc. Class A (a) 268,294 220,052,056 
Autoliv, Inc. (b) 1,103,637 127,646,655 
Berkshire Hathaway, Inc. Class B (a) 1,022,450 167,824,943 
China Biologic Products, Inc. (a) 675,550 76,972,167 
Domino's Pizza, Inc. 692,040 120,788,662 
Martin Marietta Materials, Inc. 629,700 144,579,120 
MasterCard, Inc. Class A 2,665,010 283,370,513 
Mohawk Industries, Inc. (a) 668,415 144,270,694 
Molson Coors Brewing Co. Class B 768,700 74,194,924 
Moody's Corp. 839,800 87,062,066 
MSCI, Inc. 996,300 82,443,825 
Philip Morris International, Inc. 1,908,892 183,501,788 
PPG Industries, Inc. 575,700 57,575,757 
PriceSmart, Inc. 634,275 53,723,093 
ResMed, Inc. (b) 1,318,200 89,031,228 
S&P Global, Inc. 846,471 101,728,885 
Sherwin-Williams Co. 391,900 119,063,139 
Visa, Inc. Class A 3,864,396 319,624,193 
TOTAL UNITED STATES OF AMERICA  2,453,453,708 
TOTAL COMMON STOCKS   
(Cost $10,363,581,772)  12,911,649,741 
Money Market Funds - 5.3%   
Fidelity Cash Central Fund, 0.62% (d) 624,139,454 624,264,282 
Fidelity Securities Lending Cash Central Fund 0.65% (d)(e) 97,726,734 97,746,279 
TOTAL MONEY MARKET FUNDS   
(Cost $721,927,694)  722,010,561 
TOTAL INVESTMENT PORTFOLIO - 100.9%   
(Cost $11,085,509,466)  13,633,660,302 
NET OTHER ASSETS (LIABILITIES) - (0.9)%  (126,832,351) 
NET ASSETS - 100%  $13,506,827,951 

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

Legend

 (a) Non-income producing

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

 (c) Affiliated company

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

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


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 $938,743 
Fidelity Securities Lending Cash Central Fund 130,103 
Total $1,068,846 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
SHO-BOND Holdings Co. Ltd. $72,329,808 $2,413,584 $-- $476,467 $65,871,265 
Total $72,329,808 $2,413,584 $-- $476,467 $65,871,265 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $1,669,376,261 $1,485,337,487 $184,038,774 $-- 
Consumer Staples 2,462,774,141 630,059,076 1,832,715,065 -- 
Energy 83,025,392 83,025,392 -- -- 
Financials 1,314,481,031 723,285,342 591,195,689 -- 
Health Care 2,074,745,012 656,588,593 1,418,156,419 -- 
Industrials 1,693,131,735 1,221,450,333 471,681,402 -- 
Information Technology 2,313,841,854 1,554,553,663 759,288,191 -- 
Materials 909,384,443 909,384,443 -- -- 
Real Estate 331,456,501 331,456,501 -- -- 
Telecommunication Services 59,433,371 59,433,371 -- -- 
Money Market Funds 722,010,561 722,010,561 -- -- 
Total Investments in Securities: $13,633,660,302 $8,376,584,762 $5,257,075,540 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $1,324,384,415 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $11,103,308,997. Net unrealized appreciation aggregated $2,530,351,305, of which $2,830,693,709 related to appreciated investment securities and $300,342,404 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Capital Appreciation Fund

January 31, 2017







IVF-QTLY-0317
1.813010.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%   
 Shares Value 
Australia - 2.5%   
Amcor Ltd. 1,022,292 $11,086,879 
CSL Ltd. 152,323 12,985,535 
realestate.com.au Ltd. 224,248 8,938,863 
Sydney Airport unit 2,060,263 9,140,645 
TOTAL AUSTRALIA  42,151,922 
Bailiwick of Guernsey - 0.6%   
Burford Capital Ltd. 1,155,600 9,449,341 
Bailiwick of Jersey - 2.0%   
Experian PLC 540,900 10,446,001 
Wolseley PLC 171,581 10,626,061 
WPP PLC 529,200 12,316,662 
TOTAL BAILIWICK OF JERSEY  33,388,724 
Belgium - 1.0%   
Anheuser-Busch InBev SA NV 161,960 16,911,549 
Canada - 4.7%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 255,000 11,681,499 
Canadian National Railway Co. 206,200 14,331,395 
Canadian Pacific Railway Ltd. 76,000 11,494,763 
CCL Industries, Inc. Class B 48,820 10,047,259 
Constellation Software, Inc. 21,220 9,584,346 
Enbridge, Inc. 317,000 13,496,100 
Waste Connection, Inc. (Canada) 118,900 9,535,757 
TOTAL CANADA  80,171,119 
Cayman Islands - 2.6%   
Alibaba Group Holding Ltd. sponsored ADR (a) 200,030 20,265,039 
Tencent Holdings Ltd. 918,300 24,009,306 
TOTAL CAYMAN ISLANDS  44,274,345 
Denmark - 1.8%   
Coloplast A/S Series B 139,100 9,974,216 
DSV de Sammensluttede Vognmaend A/S 202,200 9,815,805 
Pandora A/S 82,300 10,770,703 
TOTAL DENMARK  30,560,724 
Finland - 0.7%   
Sampo Oyj (A Shares) 255,600 11,836,457 
France - 6.0%   
Dassault Systemes SA 130,100 10,066,951 
Essilor International SA 92,446 10,817,828 
L'Oreal SA 69,600 12,648,674 
Legrand SA 175,200 10,171,325 
LVMH Moet Hennessy - Louis Vuitton SA 70,957 14,299,485 
Orpea 120,000 9,767,316 
Sartorius Stedim Biotech 42,662 2,579,003 
Sodexo SA (b) 93,930 10,378,028 
SR Teleperformance SA 85,300 9,126,183 
VINCI SA 182,800 12,806,886 
TOTAL FRANCE  102,661,679 
Germany - 5.4%   
CTS Eventim AG 285,507 9,894,915 
Fresenius SE & Co. KGaA 159,720 12,574,426 
HeidelbergCement Finance AG 111,700 10,748,515 
Henkel AG & Co. KGaA 120,089 12,631,739 
SAP AG 189,282 17,309,881 
Scout24 Holding GmbH (a) 248,916 8,868,603 
Symrise AG 161,600 9,707,987 
Wirecard AG (b) 206,511 9,989,432 
TOTAL GERMANY  91,725,498 
Hong Kong - 1.0%   
AIA Group Ltd. 2,717,400 16,824,383 
India - 5.5%   
Amara Raja Batteries Ltd. 691,048 9,190,944 
Asian Paints Ltd. 672,304 9,666,082 
HDFC Bank Ltd. 499,851 10,758,717 
Housing Development Finance Corp. Ltd. 647,305 13,095,187 
IndusInd Bank Ltd. 555,592 10,303,325 
ITC Ltd. 2,908,185 11,117,567 
LIC Housing Finance Ltd. 1,179,018 9,666,673 
Maruti Suzuki India Ltd. 123,242 10,759,374 
Zee Entertainment Enterprises Ltd. 1,347,789 9,764,808 
TOTAL INDIA  94,322,677 
Indonesia - 1.3%   
PT Bank Central Asia Tbk 9,540,400 10,931,894 
PT Bank Rakyat Indonesia Tbk 11,787,900 10,351,105 
TOTAL INDONESIA  21,282,999 
Ireland - 3.5%   
Accenture PLC Class A 76,900 8,756,603 
Allegion PLC 138,100 9,069,027 
CRH PLC 343,500 11,987,818 
James Hardie Industries PLC CDI 645,967 10,131,160 
Kerry Group PLC Class A 141,400 9,936,949 
Kingspan Group PLC (Ireland) 325,808 9,482,095 
TOTAL IRELAND  59,363,652 
Israel - 0.5%   
Frutarom Industries Ltd. 170,500 8,996,419 
Italy - 1.7%   
Atlantia SpA 448,163 10,183,821 
Buzzi Unicem SpA 367,800 9,052,514 
Recordati SpA 323,821 9,197,049 
TOTAL ITALY  28,433,384 
Japan - 10.0%   
Benefit One, Inc. 362,300 9,221,948 
Daikin Industries Ltd. 107,200 10,657,338 
Daito Trust Construction Co. Ltd. 70,800 9,901,089 
Dentsu, Inc. 205,900 9,519,068 
Hoya Corp. 250,000 10,898,060 
Japan Tobacco, Inc. 375,200 12,095,722 
Kansai Paint Co. Ltd. 505,500 9,822,576 
Keyence Corp. 33,440 12,992,762 
Misumi Group, Inc. 527,900 9,865,105 
Nitori Holdings Co. Ltd. 21,800 2,436,596 
Park24 Co. Ltd. 238,000 6,566,026 
Recruit Holdings Co. Ltd. 241,700 10,585,480 
Relo Holdings Corp. 67,020 9,841,392 
Seria Co. Ltd. 129,300 8,783,376 
Start Today Co. Ltd. 510,100 9,591,199 
Sundrug Co. Ltd. 133,400 9,191,852 
Sysmex Corp. 152,100 9,106,332 
Tsuruha Holdings, Inc. 97,600 9,162,696 
TOTAL JAPAN  170,238,617 
Kenya - 0.5%   
Safaricom Ltd. 51,623,400 9,200,702 
Korea (South) - 0.2%   
AMOREPACIFIC Group, Inc. 28,440 3,346,216 
Luxembourg - 0.5%   
Eurofins Scientific SA 19,900 8,915,051 
Mexico - 1.1%   
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 1,200,900 9,304,405 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 663,095 9,607,063 
TOTAL MEXICO  18,911,468 
Netherlands - 1.5%   
ASML Holding NV (Netherlands) 107,000 12,992,355 
RELX NV 774,276 13,078,089 
TOTAL NETHERLANDS  26,070,444 
New Zealand - 1.4%   
Auckland International Airport Ltd. 2,022,497 10,149,917 
Fisher & Paykel Healthcare Corp. 575,229 3,667,576 
Ryman Healthcare Group Ltd. 1,561,031 9,975,811 
TOTAL NEW ZEALAND  23,793,304 
Philippines - 1.1%   
SM Investments Corp. 697,234 9,683,903 
SM Prime Holdings, Inc. 15,849,900 9,475,579 
TOTAL PHILIPPINES  19,159,482 
South Africa - 1.5%   
Capitec Bank Holdings Ltd. 175,621 9,149,365 
Naspers Ltd. Class N 102,377 16,309,881 
TOTAL SOUTH AFRICA  25,459,246 
Spain - 1.3%   
Aena SA 66,030 9,576,385 
Amadeus IT Holding SA Class A 258,900 11,946,482 
TOTAL SPAIN  21,522,867 
Sweden - 1.8%   
ASSA ABLOY AB (B Shares) 618,562 11,704,718 
Hexagon AB (B Shares) 261,300 10,335,974 
Indutrade AB 444,100 9,001,718 
TOTAL SWEDEN  31,042,410 
Switzerland - 3.7%   
Givaudan SA 5,970 10,732,788 
Kaba Holding AG (B Shares) (Reg.) 12,410 9,606,447 
Nestle SA 430,893 31,569,175 
Sika AG 2,090 10,951,089 
TOTAL SWITZERLAND  62,859,499 
Taiwan - 1.3%   
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 741,100 22,907,401 
Thailand - 0.6%   
Airports of Thailand PCL (For. Reg.) 825,600 9,735,766 
United Kingdom - 12.0%   
Ascential PLC 2,532,214 9,113,788 
Ashtead Group PLC 498,000 10,061,333 
Big Yellow Group PLC 1,040,500 9,005,569 
British American Tobacco PLC (United Kingdom) 342,700 21,154,164 
Bunzl PLC 395,042 10,381,554 
Compass Group PLC 743,176 13,226,344 
Dignity PLC 290,596 8,938,181 
Halma PLC 880,600 10,247,102 
Imperial Tobacco Group PLC 301,853 13,949,421 
InterContinental Hotel Group PLC 203,900 9,439,428 
Intertek Group PLC 225,100 9,605,323 
London Stock Exchange Group PLC 276,600 11,033,900 
Provident Financial PLC 295,100 10,116,176 
Prudential PLC 702,120 13,606,215 
Reckitt Benckiser Group PLC 173,480 14,885,560 
Rightmove PLC 186,954 9,454,563 
Sage Group PLC 1,385,100 10,681,254 
St. James's Place Capital PLC 710,800 9,576,736 
TOTAL UNITED KINGDOM  204,476,611 
United States of America - 18.3%   
A.O. Smith Corp. 181,660 8,855,925 
Adobe Systems, Inc. (a) 85,900 9,739,342 
Alphabet, Inc. Class C (a) 11,503 9,165,475 
Altria Group, Inc. 130,600 9,296,108 
Amazon.com, Inc. (a) 11,397 9,385,202 
Amphenol Corp. Class A 133,978 9,042,175 
AutoZone, Inc. (a) 12,320 8,931,754 
Domino's Pizza, Inc. 49,330 8,610,058 
Equifax, Inc. 80,230 9,409,374 
Facebook, Inc. Class A (a) 75,140 9,792,245 
Fiserv, Inc. (a) 82,505 8,863,512 
FleetCor Technologies, Inc. (a) 63,100 9,306,619 
Henry Schein, Inc. (a) 62,000 9,911,320 
Home Depot, Inc. 63,400 8,722,572 
Masco Corp. 280,100 9,229,295 
MasterCard, Inc. Class A 86,030 9,147,570 
Mettler-Toledo International, Inc. (a) 20,370 8,690,453 
Microsoft Corp. 137,300 8,876,445 
Middleby Corp. (a) 63,635 8,538,544 
Mohawk Industries, Inc. (a) 40,900 8,827,856 
Molson Coors Brewing Co. Class B 95,894 9,255,689 
Moody's Corp. 95,630 9,913,962 
MSCI, Inc. 115,630 9,568,383 
O'Reilly Automotive, Inc. (a) 33,260 8,723,100 
Philip Morris International, Inc. 101,100 9,718,743 
Priceline Group, Inc. (a) 5,910 9,309,018 
Reynolds American, Inc. 154,000 9,260,020 
S&P Global, Inc. 79,493 9,553,469 
Service Corp. International 309,100 9,004,083 
Sherwin-Williams Co. 29,590 8,989,738 
Snap-On, Inc. 48,200 8,749,746 
TransDigm Group, Inc. 44,250 9,575,700 
Vantiv, Inc. (a) 137,300 8,545,552 
Visa, Inc. Class A 112,668 9,318,770 
TOTAL UNITED STATES OF AMERICA  311,827,817 
TOTAL COMMON STOCKS   
(Cost $1,474,036,441)  1,661,821,773 
Nonconvertible Preferred Stocks - 0.8%   
Brazil - 0.8%   
Itau Unibanco Holding SA sponsored ADR   
(Cost $11,806,718) 1,137,200 13,430,332 
Money Market Funds - 2.6%   
Fidelity Cash Central Fund, 0.62% (c) 23,879,177 23,883,953 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 20,621,295 20,625,419 
TOTAL MONEY MARKET FUNDS   
(Cost $44,508,380)  44,509,372 
TOTAL INVESTMENT PORTFOLIO - 101.0%   
(Cost $1,530,351,539)  1,719,761,477 
NET OTHER ASSETS (LIABILITIES) - (1.0)%  (16,184,804) 
NET ASSETS - 100%  $1,703,576,673 

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

Legend

 (a) Non-income producing

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

 (c) 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.

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


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 $10,599 
Fidelity Securities Lending Cash Central Fund 45,661 
Total $56,260 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $245,994,342 $189,841,970 $56,152,372 $-- 
Consumer Staples 227,813,343 143,292,895 84,520,448 -- 
Energy 13,496,100 13,496,100 -- -- 
Financials 199,165,620 146,139,848 53,025,772 -- 
Health Care 129,059,976 106,100,225 22,959,751 -- 
Industrials 378,171,810 332,316,941 45,854,869 -- 
Information Technology 302,205,759 247,894,217 54,311,542 -- 
Materials 131,920,824 119,933,006 11,987,818 -- 
Real Estate 38,223,629 38,223,629 -- -- 
Telecommunication Services 9,200,702 9,200,702 -- -- 
Money Market Funds 44,509,372 44,509,372 -- -- 
Total Investments in Securities: $1,719,761,477 $1,390,948,905 $328,812,572 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $62,145,840 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,539,262,817. Net unrealized appreciation aggregated $180,498,660 of which $211,696,735 related to appreciated investment securities and $31,198,075 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Diversified International Fund

January 31, 2017







DIF-QTLY-0317
1.813063.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.2%   
 Shares Value 
Australia - 1.4%   
Australia & New Zealand Banking Group Ltd. 5,222,554 $116,011,391 
Bapcor Ltd. 876,584 3,643,111 
CSL Ltd. 433,828 36,983,835 
Magellan Financial Group Ltd. 2,759,773 49,185,778 
Ramsay Health Care Ltd. 802,983 40,680,018 
TOTAL AUSTRALIA  246,504,133 
Bailiwick of Jersey - 2.7%   
Shire PLC 2,757,400 153,520,433 
Shire PLC sponsored ADR 175,429 29,438,740 
Wolseley PLC 2,877,375 178,196,661 
WPP PLC 5,109,109 118,909,995 
TOTAL BAILIWICK OF JERSEY  480,065,829 
Belgium - 2.4%   
Anheuser-Busch InBev SA NV 2,359,330 246,356,659 
KBC Groep NV 2,819,141 182,656,629 
TOTAL BELGIUM  429,013,288 
Bermuda - 0.3%   
Credicorp Ltd. (United States) 202,100 33,079,728 
IHS Markit Ltd. (a) 552,800 21,807,960 
TOTAL BERMUDA  54,887,688 
Canada - 4.3%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 4,254,681 194,906,078 
Cenovus Energy, Inc. 4,309,100 58,812,385 
CGI Group, Inc. Class A (sub. vtg.) (a) 1,854,600 89,177,577 
Constellation Software, Inc. 62,938 28,426,936 
Fairfax India Holdings Corp. (a) 5,681,200 63,856,688 
Imperial Oil Ltd. 2,640,200 86,799,428 
Keyera Corp. (b) 524,100 15,385,683 
PrairieSky Royalty Ltd. (b) 858,298 20,117,648 
Suncor Energy, Inc. 6,081,800 188,635,119 
Tourmaline Oil Corp. (a) 1,341,100 31,351,594 
TOTAL CANADA  777,469,136 
Cayman Islands - 0.9%   
Alibaba Group Holding Ltd. sponsored ADR (a) 1,391,300 140,952,603 
JD.com, Inc. sponsored ADR (a) 374,900 10,647,160 
Yihai International Holding Ltd. 30,406,000 11,989,947 
TOTAL CAYMAN ISLANDS  163,589,710 
China - 0.9%   
Kweichow Moutai Co. Ltd. (A Shares) 1,905,410 95,363,948 
Qingdao Haier Co. Ltd. 39,670,978 58,281,602 
TOTAL CHINA  153,645,550 
Curacao - 0.8%   
Schlumberger Ltd. 1,802,625 150,897,739 
Denmark - 1.2%   
A.P. Moller - Maersk A/S Series B 10,796 18,095,487 
Genmab A/S (a) 196,631 37,907,798 
NNIT A/S 707,488 18,641,214 
Novo Nordisk A/S Series B 4,007,595 144,833,471 
TOTAL DENMARK  219,477,970 
Finland - 0.3%   
Sampo Oyj (A Shares) 1,295,400 59,988,053 
France - 4.7%   
Air Liquide SA 404,700 43,692,953 
ALTEN 149,596 11,142,733 
Amundi SA 2,225,100 122,021,369 
AXA SA 4,245,300 104,337,851 
BNP Paribas SA 1,114,300 71,186,844 
Capgemini SA 392,884 31,965,795 
LVMH Moet Hennessy - Louis Vuitton SA 409,148 82,452,835 
Maisons du Monde SA 885,400 24,969,996 
Rubis 208,500 17,542,404 
Sanofi SA 2,230,089 179,246,752 
Societe Generale Series A 1,685,300 82,390,190 
VINCI SA 1,035,200 72,525,646 
Worldline SA (a)(c) 356,875 9,621,533 
TOTAL FRANCE  853,096,901 
Germany - 7.5%   
adidas AG 692,801 108,928,530 
Axel Springer Verlag AG 881,300 46,350,423 
Bayer AG 3,698,562 410,833,078 
Brenntag AG 96,900 5,621,395 
Deutsche Borse AG (a) 217,143 19,980,756 
Deutsche Post AG 1,946,770 65,053,116 
Fresenius Medical Care AG & Co. KGaA 114,000 9,305,223 
Fresenius SE & Co. KGaA 3,165,100 249,181,788 
KION Group AG 435,200 26,449,650 
ProSiebenSat.1 Media AG 2,131,690 90,684,969 
Rational AG 36,016 16,329,294 
SAP AG 2,577,824 235,742,572 
Scout24 Holding GmbH (a) 173,300 6,174,488 
Symrise AG 1,147,000 68,905,079 
TOTAL GERMANY  1,359,540,361 
Hong Kong - 1.5%   
AIA Group Ltd. 37,605,200 232,827,066 
China Resources Beer Holdings Co. Ltd. (a) 3,965,733 8,054,854 
Techtronic Industries Co. Ltd. 10,343,500 35,774,130 
TOTAL HONG KONG  276,656,050 
India - 3.5%   
Axis Bank Ltd. 5,163,062 35,636,331 
Bharti Infratel Ltd. 13,987,949 60,870,316 
Godrej Consumer Products Ltd. 167,651 3,924,273 
HDFC Bank Ltd. 10,018,402 215,634,557 
Housing Development Finance Corp. Ltd. 7,975,370 161,344,281 
ICICI Bank Ltd. 9,817,928 39,187,877 
ITC Ltd. 23,951,717 91,563,921 
LIC Housing Finance Ltd. 3,246,512 26,617,888 
TOTAL INDIA  634,779,444 
Indonesia - 0.7%   
PT Bank Central Asia Tbk 51,189,500 58,655,634 
PT Bank Rakyat Indonesia Tbk 82,728,300 72,644,772 
TOTAL INDONESIA  131,300,406 
Ireland - 3.2%   
Allergan PLC 403,200 88,256,448 
CRH PLC 1,658,600 57,883,537 
DCC PLC (United Kingdom) 775,389 62,379,347 
Kerry Group PLC Class A 932,000 65,496,720 
Kingspan Group PLC (Ireland) 1,185,500 34,501,986 
Medtronic PLC 1,042,500 79,250,850 
Ryanair Holdings PLC sponsored ADR (a) 2,348,032 196,436,357 
TOTAL IRELAND  584,205,245 
Isle of Man - 0.3%   
Paysafe Group PLC (a) 11,324,149 54,404,632 
Israel - 1.7%   
Check Point Software Technologies Ltd. (a) 1,383,300 136,628,541 
Elbit Systems Ltd. (Israel) 175,978 19,350,554 
SodaStream International Ltd. (a) 266,823 11,737,544 
Teva Pharmaceutical Industries Ltd. sponsored ADR 4,309,900 144,079,957 
TOTAL ISRAEL  311,796,596 
Italy - 0.3%   
Buzzi Unicem SpA 74,500 1,833,639 
Intesa Sanpaolo SpA 16,846,000 39,568,910 
Prada SpA (b) 4,535,500 18,792,232 
TOTAL ITALY  60,194,781 
Japan - 15.1%   
Astellas Pharma, Inc. 12,180,500 163,483,909 
Daito Trust Construction Co. Ltd. 365,200 51,071,721 
Dentsu, Inc. 1,300,900 60,142,574 
Don Quijote Holdings Co. Ltd. 1,830,600 66,391,878 
Hoya Corp. 6,840,800 298,205,806 
Japan Exchange Group, Inc. 3,521,100 52,546,750 
Japan Tobacco, Inc. 3,334,000 107,481,711 
Kaken Pharmaceutical Co. Ltd. 321,000 16,261,801 
Kao Corp. 189,000 9,345,381 
KDDI Corp. 6,487,700 174,314,003 
Keyence Corp. 624,920 242,806,132 
Minebea Mitsumi, Inc. 2,974,400 29,635,993 
Misumi Group, Inc. 2,276,900 42,549,455 
Morinaga & Co. Ltd. 803,000 34,705,872 
Murata Manufacturing Co. Ltd. 66,400 8,971,145 
Nabtesco Corp. 610,400 15,931,705 
Nippon Telegraph & Telephone Corp. 1,122,100 49,565,755 
Nitori Holdings Co. Ltd. 1,019,600 113,961,137 
Olympus Corp. 2,390,400 82,460,438 
ORIX Corp. 21,583,300 326,301,418 
Recruit Holdings Co. Ltd. 3,221,100 141,071,114 
Seria Co. Ltd. 27,300 1,854,495 
Seven & i Holdings Co. Ltd. 2,595,900 103,665,868 
Shinsei Bank Ltd. 24,530,000 42,364,272 
Shionogi & Co. Ltd. 713,900 34,300,837 
SMC Corp. 67,600 18,506,031 
SoftBank Corp. 1,759,300 135,536,064 
Sony Corp. 1,805,300 54,660,421 
Start Today Co. Ltd. 1,841,500 34,624,962 
Sundrug Co. Ltd. 170,200 11,727,535 
Tsuruha Holdings, Inc. 1,516,500 142,369,144 
Welcia Holdings Co. Ltd. 1,008,000 55,439,554 
TOTAL JAPAN  2,722,254,881 
Luxembourg - 1.4%   
B&M European Value Retail S.A. 36,331,425 137,251,913 
Eurofins Scientific SA 236,900 106,129,424 
TOTAL LUXEMBOURG  243,381,337 
Netherlands - 6.0%   
AerCap Holdings NV (a) 1,418,500 62,796,995 
Altice NV:   
Class A (a) 7,123,747 155,954,922 
Class B (a) 2,593,209 57,051,143 
ASML Holding NV 389,700 47,309,580 
Gree Electric Appliances, Inc. of Zhuhai ELS (A Shares) (BNP Paribas Warrant Program) warrants 11/14/17 (a)(c) 6,168,200 23,107,277 
IMCD Group BV 1,526,247 68,490,052 
ING Groep NV (Certificaten Van Aandelen) 9,537,500 137,015,284 
Koninklijke Philips Electronics NV 2,370,800 69,565,229 
LyondellBasell Industries NV Class A 473,200 44,135,364 
NXP Semiconductors NV (a) 1,203,300 117,742,905 
RELX NV 7,228,309 122,091,434 
Unilever NV (Certificaten Van Aandelen) (Bearer) (b) 3,761,095 152,556,836 
Wolters Kluwer NV 841,600 32,120,272 
TOTAL NETHERLANDS  1,089,937,293 
New Zealand - 0.1%   
Ryman Healthcare Group Ltd. 3,409,299 21,787,217 
Norway - 0.9%   
Statoil ASA 8,164,000 152,235,700 
Philippines - 0.1%   
Alliance Global Group, Inc. 88,980,756 22,460,344 
Singapore - 0.4%   
Broadcom Ltd. 380,800 75,969,600 
South Africa - 1.3%   
Aspen Pharmacare Holdings Ltd. 1,024,400 23,414,857 
Capitec Bank Holdings Ltd. 318,200 16,577,334 
Naspers Ltd. Class N 1,166,699 185,869,109 
TOTAL SOUTH AFRICA  225,861,300 
Spain - 1.9%   
Amadeus IT Holding SA Class A 3,322,900 153,329,331 
Hispania Activos Inmobiliarios SA 2,576,480 31,706,936 
Inditex SA 4,984,566 164,303,919 
TOTAL SPAIN  349,340,186 
Sweden - 3.2%   
ASSA ABLOY AB (B Shares) 5,393,000 102,048,860 
Coor Service Management Holding AB (d) 5,005,700 31,474,832 
HEXPOL AB (B Shares) 2,178,600 21,095,840 
Nordea Bank AB 14,644,200 176,960,586 
Svenska Cellulosa AB (SCA) (B Shares) 5,763,860 173,443,790 
Svenska Handelsbanken AB (A Shares) 5,414,900 80,837,455 
TOTAL SWEDEN  585,861,363 
Switzerland - 3.0%   
Actelion Ltd. 234,853 61,318,411 
Credit Suisse Group AG 7,956,987 121,464,425 
Dufry AG (a) 14,260 2,027,570 
Julius Baer Group Ltd. 929,700 43,705,921 
Sika AG 26,481 138,753,964 
Syngenta AG (a) 85,136 36,091,710 
UBS Group AG 8,217,947 132,626,561 
TOTAL SWITZERLAND  535,988,562 
Taiwan - 1.1%   
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 6,596,200 203,888,542 
Thailand - 0.3%   
Kasikornbank PCL (For. Reg.) 8,419,200 44,964,751 
United Kingdom - 15.3%   
Booker Group PLC 25,148,900 64,476,850 
British American Tobacco PLC sponsored ADR (b) 1,827,300 225,123,360 
Bunzl PLC 2,054,170 53,982,807 
Coca-Cola European Partners PLC 1,665,300 57,502,809 
Compass Group PLC 6,075,576 108,127,355 
Dialog Semiconductor PLC (a) 1,320,900 61,242,901 
Dignity PLC 938,772 28,874,843 
Domino's Pizza UK & IRL PLC 3,702,300 16,874,099 
Essentra PLC (d) 13,809,220 71,120,963 
Halma PLC 1,709,756 19,895,576 
Howden Joinery Group PLC 6,472,900 30,731,336 
IMI PLC 1,694,635 24,857,381 
Imperial Tobacco Group PLC 2,233,183 103,201,260 
Indivior PLC 9,576,700 35,600,329 
Informa PLC 4,207,236 34,508,423 
ITV PLC 29,009,500 74,155,708 
Just Eat Holding Ltd. (a) 1,323,800 8,984,511 
Liberty Global PLC Class A (a) 1,463,900 53,403,072 
Lloyds Banking Group PLC 326,292,300 267,625,654 
London Stock Exchange Group PLC 2,560,000 102,121,421 
Melrose Industries PLC 47,480,971 116,624,898 
Micro Focus International PLC 4,073,883 109,930,066 
Next PLC 1,782,600 85,888,164 
Polypipe Group PLC 3,853,600 16,385,661 
Prudential PLC 11,150,568 216,084,176 
Reckitt Benckiser Group PLC 2,079,487 178,431,685 
Rio Tinto PLC 4,236,500 187,689,648 
Softcat PLC 5,024,700 19,633,251 
Spectris PLC 2,039,500 62,012,751 
St. James's Place Capital PLC 12,119,300 163,285,510 
Standard Life PLC 9,655,610 41,991,340 
TechnipFMC PLC (a) 1,316,770 43,155,320 
Vodafone Group PLC sponsored ADR 3,120,800 77,707,920 
TOTAL UNITED KINGDOM  2,761,231,048 
United States of America - 7.5%   
Activision Blizzard, Inc. 992,200 39,896,362 
Alexion Pharmaceuticals, Inc. (a) 219,100 28,631,988 
Alphabet, Inc.:   
Class A (a) 95,105 78,004,170 
Class C (a) 193,003 153,782,860 
Amgen, Inc. 574,200 89,965,656 
Bio-Rad Laboratories, Inc. Class A (a) 96,900 18,418,752 
Coty, Inc. Class A 7,834,400 150,420,480 
Fidelity National Information Services, Inc. 618,700 49,137,154 
MasterCard, Inc. Class A 1,276,200 135,698,346 
Molson Coors Brewing Co. Class B 657,900 63,500,508 
MSCI, Inc. 454,700 37,626,425 
NJOY, Inc. (a)(e) 9,361,811 94 
Oceaneering International, Inc. 1,263,300 35,182,905 
Qualcomm, Inc. 1,578,800 84,355,284 
Regeneron Pharmaceuticals, Inc. (a) 128,200 46,060,978 
S&P Global, Inc. 1,170,900 140,718,762 
Spectrum Brands Holdings, Inc. 231,200 30,839,768 
Vertex Pharmaceuticals, Inc. (a) 393,300 33,772,671 
Visa, Inc. Class A 1,655,200 136,901,592 
TOTAL UNITED STATES OF AMERICA  1,352,914,755 
TOTAL COMMON STOCKS   
(Cost $13,947,329,801)  17,389,590,391 
Nonconvertible Preferred Stocks - 1.5%   
Brazil - 0.2%   
Itau Unibanco Holding SA 2,998,650 35,438,331 
Germany - 1.3%   
Henkel AG & Co. KGaA 1,546,100 188,097,986 
Jungheinrich AG 507,200 15,579,750 
Sartorius AG (non-vtg.) 424,084 29,756,914 
TOTAL GERMANY  233,434,650 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $196,594,826)  268,872,981 
Money Market Funds - 3.6%   
Fidelity Cash Central Fund, 0.62% (f) 418,584,294 418,668,011 
Fidelity Securities Lending Cash Central Fund 0.65% (f)(g) 231,313,393 231,359,656 
TOTAL MONEY MARKET FUNDS   
(Cost $649,960,689)  650,027,667 
TOTAL INVESTMENT PORTFOLIO - 101.3%   
(Cost $14,793,885,316)  18,308,491,039 
NET OTHER ASSETS (LIABILITIES) - (1.3)%  (231,667,391) 
NET ASSETS - 100%  $18,076,823,648 

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $32,728,810 or 0.2% of net assets.

 (d) Affiliated company

 (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 $94 or 0.0% of net assets.

 (f) 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
NJOY, Inc. 6/7/13 - 2/14/14 $10,471,242 

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 $614,597 
Fidelity Securities Lending Cash Central Fund 277,251 
Total $891,848 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
Coor Service Management Holding AB $30,536,334 $-- $1,409,662 $-- $31,474,832 
Essentra PLC 88,602,878 1,804,660 3,977,829 -- 71,120,963 
Total $119,139,212 $1,804,660 $5,387,491 $-- $102,595,795 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $2,047,098,328 $1,351,827,188 $695,271,046 $94 
Consumer Staples 2,557,996,850 1,799,153,026 758,843,824 -- 
Energy 782,573,521 630,337,821 152,235,700 -- 
Financials 4,002,166,193 2,326,401,550 1,675,764,643 -- 
Health Care 2,711,729,593 1,552,204,481 1,159,525,112 -- 
Industrials 1,733,651,602 1,243,653,931 489,997,671 -- 
Information Technology 2,553,729,469 2,317,986,897 235,742,572 -- 
Materials 671,202,697 381,936,559 289,266,138 -- 
Real Estate 82,778,657 82,778,657 -- -- 
Telecommunication Services 497,994,058 138,578,236 359,415,822 -- 
Utilities 17,542,404 17,542,404 -- -- 
Money Market Funds 650,027,667 650,027,667 -- -- 
Total Investments in Securities: $18,308,491,039 $12,492,428,417 $5,816,062,528 $94 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $1,567,035,702 
Level 2 to Level 1 $136,971,886 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $15,000,997,637. Net unrealized appreciation aggregated $3,307,493,402, of which $4,080,217,875 related to appreciated investment securities and $772,724,473 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Emerging Markets Discovery Fund

January 31, 2017







EMD-QTLY-0317
1.931229.105





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 84.5%   
 Shares Value 
Argentina - 1.0%   
Grupo Superveille SA sponsored ADR 18,300 $269,559 
Inversiones y Representaciones SA ADR (a)(b) 34,410 738,439 
TOTAL ARGENTINA  1,007,998 
Bailiwick of Jersey - 0.8%   
Atrium European Real Estate Ltd. 186,272 780,193 
Bangladesh - 0.4%   
BRAC Bank Ltd. 449,466 382,753 
Bermuda - 2.0%   
PAX Global Technology Ltd. (b) 921,000 641,829 
Shangri-La Asia Ltd. 1,218,000 1,354,770 
TOTAL BERMUDA  1,996,599 
Brazil - 6.7%   
B2W Companhia Global do Varejo (a) 52,240 198,940 
Banco ABC Brasil SA rights 2/2/17 (a) 4,596 8,831 
BR Malls Participacoes SA 163,800 762,574 
BTG Pactual Participations Ltd. unit 47,700 250,981 
Direcional Engenharia SA 260,300 488,202 
Fibria Celulose SA 54,600 508,902 
FPC Par Corretora de Seguros 63,500 284,139 
Hypermarcas SA 98,038 869,589 
Localiza Rent A Car SA 45,700 534,431 
Minerva SA (a) 132,900 506,531 
QGEP Participacoes SA 399,200 719,576 
Smiles SA 63,400 1,046,238 
Tegma Gestao Logistica SA (a) 148,100 442,265 
TOTAL BRAZIL  6,621,199 
British Virgin Islands - 0.2%   
Dolphin Capital Investors Ltd. (a) 2,042,257 223,517 
Canada - 1.2%   
Pan American Silver Corp. 29,000 566,370 
Torex Gold Resources, Inc. (a) 30,670 650,522 
TOTAL CANADA  1,216,892 
Cayman Islands - 10.0%   
51job, Inc. sponsored ADR (a)(b) 13,600 478,448 
58.com, Inc. ADR (a) 19,600 571,928 
Airtac International Group 47,000 391,033 
ASM Pacific Technology Ltd. 43,500 528,885 
Boyaa Interactive International Ltd. (a) 338,000 171,897 
Casetek Holdings 18,000 55,286 
Changyou.com Ltd. (A Shares) ADR (a) 15,200 366,624 
China State Construction International Holdings Ltd. 434,000 705,230 
Daqo New Energy Corp. ADR (a) 2,500 61,050 
Geely Automobile Holdings Ltd. 510,000 602,781 
Goodbaby International Holdings Ltd. 709,000 308,227 
Haitian International Holdings Ltd. 350,000 711,983 
IGG, Inc. 88,000 65,574 
JinkoSolar Holdings Co. Ltd. ADR (a)(b) 15,300 219,096 
Kingboard Laminates Holdings Ltd. 272,000 299,270 
Lee's Pharmaceutical Holdings Ltd. 447,500 391,676 
Pico Far East Holdings Ltd. 2,320,000 775,750 
Semiconductor Manufacturing International Corp. (a) 62,100 85,155 
Silicon Motion Technology Corp. sponsored ADR 1,200 46,920 
SINA Corp. 3,500 244,020 
SITC International Holdings Co. Ltd. 1,082,000 672,024 
Sunny Optical Technology Group Co. Ltd. 107,000 626,968 
TPK Holding Co. Ltd. (a) 36,000 67,290 
Uni-President China Holdings Ltd. 960,000 733,502 
Vinda International Holdings Ltd. 214,000 424,886 
YY, Inc. ADR (a) 4,700 193,076 
TOTAL CAYMAN ISLANDS  9,798,579 
Chile - 3.1%   
Compania Cervecerias Unidas SA sponsored ADR (b) 23,800 537,642 
CorpBanca SA 27,171,980 222,504 
Empresas CMPC SA 174,458 375,532 
Enersis SA 3,288,313 588,127 
Inversiones La Construccion SA 19,581 255,112 
Quinenco SA 80,906 222,045 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 18,700 604,384 
Vina Concha y Toro SA 168,816 274,603 
TOTAL CHILE  3,079,949 
China - 5.4%   
BBMG Corp. (H Shares) 1,994,000 765,217 
China Longyuan Power Grid Corp. Ltd. (H Shares) 331,200 270,531 
Huangshan Tourism Development Co. Ltd. 567,200 778,198 
Qingdao Haier Co. Ltd. 1,046,986 1,538,152 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 510,000 907,206 
Tsingtao Brewery Co. Ltd. (H Shares) 146,000 582,979 
Zhengzhou Yutong Bus Co. Ltd. 162,134 477,332 
TOTAL CHINA  5,319,615 
Colombia - 0.6%   
Bancolombia SA sponsored ADR 5,600 212,016 
Organizacion Terpel SA 105,202 405,737 
TOTAL COLOMBIA  617,753 
Egypt - 0.2%   
Credit Agricole Egypt 96,000 197,573 
Greece - 0.8%   
Titan Cement Co. SA (Reg.) 35,100 788,500 
Hong Kong - 1.5%   
BYD Electronic International Co. Ltd. 86,000 68,993 
China Resources Beer Holdings Co. Ltd. (a) 434,000 881,503 
Far East Horizon Ltd. 497,584 453,612 
Techtronic Industries Co. Ltd. 10,500 36,315 
TOTAL HONG KONG  1,440,423 
India - 8.8%   
ACC Ltd. 3,322 69,550 
Adani Ports & Special Economic Zone 149,134 647,981 
Alembic Pharmaceuticals Ltd. (a) 87,793 728,520 
Arvind Mills Ltd. 149,203 813,694 
Deccan Cements Ltd. 21,380 322,861 
Edelweiss Financial Services Ltd. 158,870 259,195 
Federal Bank Ltd. (a) 302,931 341,226 
IDFC Ltd. (a) 317,213 258,412 
Iifl Holdings Ltd. 60,955 266,788 
Indraprastha Gas Ltd. 22,533 313,556 
JK Cement Ltd. 37,889 405,687 
LIC Housing Finance Ltd. 47,601 390,277 
Manappuram General Finance & Leasing Ltd. 627,987 734,349 
Phoenix Mills Ltd. 42,919 219,824 
Power Grid Corp. of India Ltd. 252,209 774,016 
Solar Industries India Ltd. (a) 50,194 516,846 
Steel Authority of India Ltd. (a) 451,125 424,631 
Torrent Pharmaceuticals Ltd. 45,070 867,789 
VST Industries Ltd. (a) 9,434 335,790 
TOTAL INDIA  8,690,992 
Indonesia - 1.4%   
PT Bank Danamon Indonesia Tbk Series A 965,300 300,741 
PT Indo Tambangraya Megah Tbk 231,700 260,288 
PT Lippo Karawaci Tbk 3,970,900 218,582 
PT Media Nusantara Citra Tbk 1,310,800 166,396 
PT Panin Life Tbk (a) 28,314,200 379,573 
TOTAL INDONESIA  1,325,580 
Israel - 0.3%   
Bezeq The Israel Telecommunication Corp. Ltd. 152,660 266,478 
Kazakhstan - 0.1%   
JSC Halyk Bank of Kazakhstan GDR unit (a) 23,100 135,135 
Kenya - 0.1%   
Kcb Group Ltd. 632,600 140,171 
Korea (South) - 9.6%   
AMOREPACIFIC Group, Inc. 2,581 303,677 
BS Financial Group, Inc. 52,336 387,645 
Com2uS Corp. (a) 3,324 246,781 
Daou Technology, Inc. 21,665 333,920 
DOUBLEUGAMES Co. Ltd. (a) 10,906 366,016 
Fila Korea Ltd. 20,319 1,213,880 
Hanon Systems 46,734 368,877 
Hyundai Fire & Marine Insurance Co. Ltd. 13,054 341,189 
Hyundai Glovis Co. Ltd. 3,042 410,747 
Hyundai HCN 161,419 549,447 
Hyundai Wia Corp. 6,099 342,118 
KB Financial Group, Inc. 9,680 395,264 
KEPCO Plant Service & Engineering Co. Ltd. 9,913 470,845 
Korea Express Co. Ltd. (a) 3,251 460,140 
Korean Reinsurance Co. 26,088 245,785 
Medy-Tox, Inc. 2,236 803,817 
Minwise Co. Ltd. 7,855 218,264 
MK Electron Co. Ltd. 20,575 184,912 
NCSOFT Corp. 2,749 725,660 
Nice Information & Telecom, Inc. 9,861 238,469 
Samjin Pharmaceutical Co. Ltd. 19,537 543,715 
Silicon Works Co. Ltd. 9,258 256,846 
SundayToz Corp. 4,175 73,774 
TOTAL KOREA (SOUTH)  9,481,788 
Malaysia - 1.0%   
Inari Amertron Bhd 304,800 122,484 
Top Glove Corp. Bhd 687,600 807,206 
TOTAL MALAYSIA  929,690 
Mexico - 3.5%   
Gruma S.A.B. de CV Series B 40,285 542,008 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 69,400 537,701 
Grupo Comercial Chedraui S.A.B. de CV 214,100 394,350 
Industrias Penoles SA de CV 29,810 704,942 
Macquarie Mexican (REIT) 399,272 393,078 
Qualitas Controladora S.A.B. de CV 128,100 192,087 
Tenedora Nemak SA de CV 440,000 408,910 
Terrafina 217,900 301,456 
TOTAL MEXICO  3,474,532 
Netherlands - 1.3%   
X5 Retail Group NV GDR (Reg. S) (a) 1,400 46,970 
Yandex NV Series A (a) 54,600 1,263,444 
TOTAL NETHERLANDS  1,310,414 
Pakistan - 0.4%   
Habib Bank Ltd. 147,700 367,654 
Panama - 0.5%   
Copa Holdings SA Class A 5,100 497,199 
Philippines - 0.3%   
Alliance Global Group, Inc. 180,100 45,460 
Robinsons Land Corp. 445,700 225,185 
TOTAL PHILIPPINES  270,645 
Poland - 0.5%   
Asseco Poland SA 20,700 297,213 
CD Projekt RED SA (a) 3,633 53,206 
Prime Car Management SA 19,300 168,580 
TOTAL POLAND  518,999 
Romania - 0.2%   
Banca Transilvania SA 399,713 226,523 
Russia - 2.0%   
Inter Rao Ues JSC (a) 13,451,004 910,858 
RusHydro PJSC (a) 42,385,300 728,347 
Sistema JSFC 174,100 69,186 
Sistema JSFC sponsored GDR 25,260 241,738 
TOTAL RUSSIA  1,950,129 
Singapore - 0.6%   
First Resources Ltd. 402,300 550,920 
South Africa - 2.7%   
Bidvest Group Ltd. 59,300 697,782 
EOH Holdings Ltd. 30,200 328,782 
Imperial Holdings Ltd. 55,900 691,998 
Pick 'n Pay Stores Ltd. 80,300 407,370 
Reunert Ltd. 109,300 552,462 
TOTAL SOUTH AFRICA  2,678,394 
Sri Lanka - 0.7%   
Dialog Axiata PLC 3,023,372 214,951 
Hatton National Bank PLC 315,296 470,535 
TOTAL SRI LANKA  685,486 
Taiwan - 8.7%   
Advantech Co. Ltd. 119,000 1,011,045 
Chipbond Technology Corp. 110,000 159,937 
Cleanaway Co. Ltd. 85,000 445,568 
CTCI Corp. 324,000 506,924 
Cub Elecparts, Inc. 71,568 566,753 
Elite Advanced Laser Corp. 55,000 219,538 
eMemory Technology, Inc. 28,000 359,084 
Everlight Electronics Co. Ltd. 193,000 302,583 
FLEXium Interconnect, Inc. 105,356 302,991 
Inventec Corp. 512,000 385,758 
Largan Precision Co. Ltd. 1,000 142,672 
Lite-On Technology Corp. 399,220 604,132 
Powertech Technology, Inc. 143,000 391,994 
Radiant Opto-Electronics Corp. 276,000 500,845 
St.Shine Optical Co. Ltd. 32,000 608,390 
Synnex Technology International Corp. 350,100 365,921 
Tong Hsing Electronics Industries Ltd. 109,000 414,116 
Tripod Technology Corp. 117,000 286,212 
Universal Cement Corp. 353,568 278,860 
Vanguard International Semiconductor Corp. 235,000 424,184 
Yuanta Financial Holding Co. Ltd. 657,000 261,195 
TOTAL TAIWAN  8,538,702 
Thailand - 1.8%   
Delta Electronics PCL (For. Reg.) 204,600 499,735 
PTT Global Chemical PCL (For. Reg.) 365,000 704,372 
Star Petroleum Refining PCL 1,464,300 517,192 
TOTAL THAILAND  1,721,299 
Turkey - 3.1%   
Aksa Akrilik Kimya Sanayii 492,000 1,371,756 
Aselsan A/S 166,000 600,973 
Bim Birlesik Magazalar A/S JSC 39,000 556,604 
Tupras Turkiye Petrol Rafinelleri A/S 22,828 495,807 
TOTAL TURKEY  3,025,140 
United Arab Emirates - 1.0%   
Emaar Properties PJSC 389,068 787,055 
National Bank of Ras Al-Khaimah PSC (a) 115,100 151,988 
TOTAL UNITED ARAB EMIRATES  939,043 
United Kingdom - 1.5%   
BGEO Group PLC 7,840 291,937 
Mondi PLC 44,200 973,619 
TBC Bank Group PLC (a) 10,075 189,101 
TOTAL UNITED KINGDOM  1,454,657 
United States of America - 0.2%   
Net 1 UEPS Technologies, Inc. (a) 20,000 230,000 
Vietnam - 0.3%   
FTP Corp. 163,990 327,363 
TOTAL COMMON STOCKS   
(Cost $78,619,852)  83,208,476 
Nonconvertible Preferred Stocks - 3.6%   
Brazil - 1.8%   
Banco ABC Brasil SA 112,300 589,815 
Banco do Estado Rio Grande do Sul SA 91,100 455,341 
Companhia Paranaense de Energia-Copel (PN-B) sponsored ADR (b) 49,000 500,290 
Metalurgica Gerdau SA (PN) (a) 133,000 237,206 
TOTAL BRAZIL  1,782,652 
Korea (South) - 1.8%   
Hyundai Motor Co. Series 2 15,553 1,295,144 
LG Chemical Ltd. 2,759 409,669 
TOTAL KOREA (SOUTH)  1,704,813 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $2,865,261)  3,487,465 
 Principal Amount Value 
Government Obligations - 0.5%   
United States of America - 0.5%   
U.S. Treasury Bills, yield at date of purchase 0.45% to 0.54% 3/2/17 to 4/20/17 (c)   
(Cost $459,650) 460,000 459,673 
 Shares Value 
Money Market Funds - 12.8%   
Fidelity Cash Central Fund, 0.62% (d) 10,875,683 10,877,858 
Fidelity Securities Lending Cash Central Fund 0.65% (d)(e) 1,761,801 1,762,153 
TOTAL MONEY MARKET FUNDS   
(Cost $12,638,746)  12,640,011 
TOTAL INVESTMENT PORTFOLIO - 101.4%   
(Cost $94,583,509)  99,795,625 
NET OTHER ASSETS (LIABILITIES) - (1.4)%  (1,333,503) 
NET ASSETS - 100%  $98,462,122 

Futures Contracts    
 Expiration Date Underlying Face Amount at Value Unrealized Appreciation/(Depreciation) 
Purchased    
Equity Index Contracts    
187 ICE E-mini MSCI Emerging Markets Index Contracts (United States) March 2017 8,556,185 $409,234 

The face value of futures purchased as a percentage of Net Assets is 8.7%

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

Legend

 (a) Non-income producing

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

 (c) 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 $459,673.

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

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


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 $12,172 
Fidelity Securities Lending Cash Central Fund 12,263 
Total $24,435 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $15,322,283 $12,244,440 $3,077,843 $-- 
Consumer Staples 7,079,335 4,456,465 2,622,870 -- 
Energy 1,992,863 1,992,863 -- -- 
Financials 10,309,006 9,451,299 857,707 -- 
Health Care 6,527,908 5,229,026 1,298,882 -- 
Industrials 10,677,153 8,587,916 2,089,237 -- 
Information Technology 15,951,742 13,463,171 2,488,571 -- 
Materials 9,307,670 8,542,453 765,217 -- 
Real Estate 4,649,903 4,649,903 -- -- 
Telecommunication Services 792,353 792,353 -- -- 
Utilities 4,085,725 3,815,194 270,531 -- 
Government Obligations 459,673 -- 459,673 -- 
Money Market Funds 12,640,011 12,640,011 -- -- 
Total Investments in Securities: $99,795,625 $85,865,094 $13,930,531 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $409,234 $409,234 $-- $-- 
Total Assets $409,234 $409,234 $-- $-- 
Total Derivative Instruments: $409,234 $409,234 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $12,175,024 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $95,395,350. Net unrealized appreciation aggregated $4,400,275, of which $11,086,457 related to appreciated investment securities and $6,686,182 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

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

January 31, 2017







EME-QTLY-0317
1.861978.108





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.1%   
 Shares Value 
Austria - 0.4%   
Buwog-Gemeinnuetzige Wohnung 19,299 $459,999 
Bailiwick of Jersey - 0.8%   
Glencore Xstrata PLC (a) 137,200 559,898 
Wizz Air Holdings PLC (a) 13,888 311,160 
TOTAL BAILIWICK OF JERSEY  871,058 
Belgium - 0.3%   
KBC Groep NV 5,512 357,131 
Bermuda - 0.4%   
Central European Media Enterprises Ltd. Class A (a)(b) 181,600 472,160 
Botswana - 0.3%   
First National Bank of Botswana Ltd. 1,042,331 286,624 
British Virgin Islands - 0.5%   
Lenta Ltd. GDR (a) 65,900 517,974 
Canada - 0.4%   
Detour Gold Corp. (a) 37,300 505,933 
Cyprus - 0.5%   
Globaltrans Investment PLC GDR (Reg. S) 98,500 620,550 
Estonia - 0.5%   
Tallinna Kaubamaja AS 57,700 546,881 
Greece - 1.7%   
Fourlis Holdings SA (a) 25,000 117,666 
Hellenic Exchanges Holding SA 90,000 434,283 
Jumbo SA 26,536 372,393 
Motor Oil (HELLAS) Corinth Refineries SA 37,500 538,401 
Sarantis SA 37,800 420,701 
TOTAL GREECE  1,883,444 
Hungary - 1.6%   
OTP Bank PLC 59,700 1,834,755 
Israel - 1.0%   
Bank Hapoalim BM (Reg.) 80,000 482,816 
Elbit Systems Ltd. (Israel) 5,900 648,764 
TOTAL ISRAEL  1,131,580 
Kenya - 1.1%   
British American Tobacco Kenya Ltd. 33,400 288,630 
Kcb Group Ltd. 1,335,600 295,942 
Safaricom Ltd. 3,640,544 648,845 
TOTAL KENYA  1,233,417 
Lithuania - 0.3%   
Apranga AB (a) 110,466 323,162 
Luxembourg - 0.5%   
Tenaris SA 32,000 560,543 
Netherlands - 0.4%   
X5 Retail Group NV GDR (Reg. S) (a) 15,100 506,605 
Nigeria - 1.9%   
Dangote Cement PLC 738,994 401,548 
Guaranty Trust Bank PLC 3,000,000 232,733 
Nigerian Breweries PLC 1,768,869 809,453 
Zenith Bank PLC 13,652,978 701,642 
TOTAL NIGERIA  2,145,376 
Oman - 0.6%   
BankMuscat SAOG (a) 548,000 657,515 
Pakistan - 1.3%   
Engro Corp. Ltd. 180,500 578,933 
Indus Motor Co. Ltd. 20,650 345,546 
K-Electric Ltd. (a) 1,100,000 109,155 
United Bank Ltd. 214,400 481,416 
TOTAL PAKISTAN  1,515,050 
Poland - 2.9%   
AmRest Holdings NV (a) 4,700 384,948 
Globe Trade Centre SA (a) 210,000 445,726 
Kruk SA 9,100 558,539 
NG2 SA 13,800 711,933 
Orbis SA 31,500 576,560 
Pfleiderer Grajewo SA 57,000 636,939 
TOTAL POLAND  3,314,645 
Qatar - 2.1%   
Qatar National Bank SAQ 54,034 2,414,438 
Romania - 2.6%   
Banca Transilvania SA 1,400,508 793,689 
BRD-Groupe Societe Generale 545,088 1,502,662 
Fondul Propietatea SA GDR 43,000 453,650 
MedLife SA 29,938 184,760 
TOTAL ROMANIA  2,934,761 
Russia - 23.1%   
Alrosa Co. Ltd. (a) 827,200 1,453,496 
Gazprom OAO (a) 2,259,173 5,621,030 
Lukoil PJSC 16,600 931,049 
Lukoil PJSC sponsored ADR 79,195 4,443,631 
Magnit OJSC 9,181 1,472,806 
Moscow Exchange MICEX-RTS OAO (a) 516,200 1,151,592 
NOVATEK OAO (a) 223,630 2,824,604 
Novolipetsk Steel OJSC GDR (Reg. S) 38,800 764,360 
Sberbank of Russia 2,174,320 6,214,948 
Tatneft PAO (a) 203,400 1,375,161 
TOTAL RUSSIA  26,252,677 
Slovenia - 0.5%   
Petrol d.d., Ljubljana 1,450 508,949 
South Africa - 39.5%   
African Rainbow Minerals Ltd. 100,900 902,297 
AngloGold Ashanti Ltd. (a) 112,100 1,424,548 
ArcelorMittal South Africa Ltd. (a) 650,000 637,217 
Aveng Ltd. (a) 939,200 508,109 
AVI Ltd. 80,000 543,941 
Barloworld Ltd. 93,400 763,835 
Cashbuild Ltd. 16,000 412,616 
City Lodge Hotels Ltd. 45,300 496,804 
Clicks Group Ltd. 159,954 1,448,192 
Dis-Chem Pharmacies Pty Ltd. 312,000 560,327 
DRDGOLD Ltd. 2,552,814 1,437,671 
Exxaro Resources Ltd. 94,800 747,988 
FirstRand Ltd. 937,100 3,491,089 
Grindrod Ltd. 633,200 664,919 
Holdsport Ltd. 124,700 564,597 
Hulamin Ltd. (a) 1,096,900 568,190 
Imperial Holdings Ltd. 69,000 854,166 
KAP Industrial Holdings Ltd. 1,197,200 692,999 
Kumba Iron Ore Ltd. (a) 31,000 476,215 
Mr Price Group Ltd. 99,500 1,201,089 
MTN Group Ltd. 102,350 954,398 
Murray & Roberts Holdings Ltd. 559,000 464,623 
Nampak Ltd. 1,072,900 1,488,922 
Naspers Ltd. Class N 46,400 7,392,078 
Northam Platinum Ltd. (a) 190,400 722,743 
Pioneer Foods Ltd. 74,400 915,934 
Pretoria Portland Cement Co. Ltd. 1,118,549 568,613 
PSG Group Ltd. 117,400 1,976,676 
Remgro Ltd. 123,700 2,069,255 
RMB Holdings Ltd. 253,300 1,221,291 
Sasol Ltd. 44,100 1,315,590 
Shoprite Holdings Ltd. 108,500 1,441,299 
Spar Group Ltd. 78,800 1,114,019 
Spur Corp. Ltd. 191,500 483,475 
Standard Bank Group Ltd. 277,914 2,968,266 
Super Group Ltd. (a) 161,000 436,701 
Telkom SA Ltd. 153,000 836,022 
TOTAL SOUTH AFRICA  44,766,714 
United Arab Emirates - 5.8%   
Agthia Group PJSC 274,787 508,740 
Aldar Properties PJSC (a) 1,175,871 819,578 
Arabtec Holding Co. (a) 920,000 338,152 
Dubai Financial Market PJSC (a) 2,760,358 969,496 
Dubai Islamic Bank Pakistan Ltd. (a) 742,528 1,202,876 
Dubai Parks and Resorts PJSC (a) 2,038,210 665,918 
Emaar Malls Group PJSC (a) 1,034,766 712,777 
First Gulf Bank PJSC 317,684 1,120,098 
SHUAA Capital PSC (a) 663,913 291,023 
TOTAL UNITED ARAB EMIRATES  6,628,658 
United Kingdom - 4.1%   
ALDREES Petroleum and Transport Services Co. ELS (HSBC Warrant Program) warrants 1/30/20(a)(c) 52,500 512,926 
Bupa Arabia ELS (HSBC Warrant Program) warrants 10/19/18 (a)(c) 13,300 457,490 
Georgia Healthcare Group PLC (a) 107,500 459,799 
Mediclinic International PLC 57,300 560,456 
NMC Health PLC 28,749 589,871 
Saudi Dairy & Foodstuff Co. ELS (HSBC Warrant Program) warrants 6/4/18 (a)(c) 14,000 434,456 
The Savola Group ELS (HSBC Warrant Program) warrants 1/24/20(a)(c) 76,800 775,935 
Tullow Oil PLC (a) 90,600 335,428 
United International Transportation Co. ELS (HSBC Warrant Program) warrants 7/31/17 (a)(c) 66,861 536,992 
TOTAL UNITED KINGDOM  4,663,353 
TOTAL COMMON STOCKS   
(Cost $85,910,324)  107,913,952 
Nonconvertible Preferred Stocks - 3.2%   
Russia - 3.2%   
Surgutneftegas OJSC (a) 3,572,400 2,039,835 
Tatneft PAO (a) 410,800 1,539,945 
TOTAL RUSSIA  3,579,780 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $3,156,715)  3,579,780 
Money Market Funds - 1.3%   
Fidelity Cash Central Fund, 0.62% (d) 1,087,547 1,087,764 
Fidelity Securities Lending Cash Central Fund 0.65%(d)(e) 426,221 426,306 
TOTAL MONEY MARKET FUNDS   
(Cost $1,514,019)  1,514,070 
TOTAL INVESTMENT PORTFOLIO - 99.6%   
(Cost $90,581,058)  113,007,802 
NET OTHER ASSETS (LIABILITIES) - 0.4%  410,778 
NET ASSETS - 100%  $113,418,580 

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,717,799 or 2.4% of net assets.

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

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


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 $965 
Fidelity Securities Lending Cash Central Fund 1797 
Total $2,762 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $16,320,761 $8,928,683 $7,392,078 $-- 
Consumer Staples 11,095,502 11,095,502 -- -- 
Energy 20,957,615 11,805,158 9,152,457 -- 
Financials 36,882,244 27,949,497 8,932,747 -- 
Health Care 1,794,886 1,794,886 -- -- 
Industrials 5,013,111 5,013,111 -- -- 
Materials 14,443,113 10,265,304 4,177,809 -- 
Real Estate 2,438,080 2,438,080 -- -- 
Telecommunication Services 2,439,265 1,484,867 954,398 -- 
Utilities 109,155 109,155 -- -- 
Money Market Funds 1,514,070 1,514,070 -- -- 
Total Investments in Securities: $113,007,802 $82,398,313 $30,609,489 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $8,212,485 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $90,967,295. Net unrealized appreciation aggregated $22,040,507, of which $26,373,367 related to appreciated investment securities and $4,332,860 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Small Cap Opportunities Fund

January 31, 2017







ILS-QTLY-0317
1.827842.111





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.6%   
 Shares Value 
Australia - 2.6%   
Beacon Lighting Group Ltd. 2,695,741 $3,271,120 
DuluxGroup Ltd. 1,736,117 7,992,194 
Imdex Ltd. (a) 3,478,081 1,793,688 
RCG Corp. Ltd. 6,879,148 7,121,404 
TFS Corp. Ltd. (b) 4,654,304 5,541,824 
TOTAL AUSTRALIA  25,720,230 
Austria - 1.7%   
Andritz AG 172,500 9,304,170 
Buwog-Gemeinnuetzige Wohnung 283,444 6,755,990 
TOTAL AUSTRIA  16,060,160 
Bailiwick of Jersey - 0.4%   
Integrated Diagnostics Holdings PLC 1,364,279 3,499,376 
Belgium - 1.5%   
Gimv NV 56,688 3,160,706 
KBC Ancora (a) 254,448 11,202,686 
TOTAL BELGIUM  14,363,392 
Bermuda - 0.7%   
Vostok New Ventures Ltd. SDR (a) 862,589 7,001,614 
Canada - 1.9%   
McCoy Global, Inc. (a) 636,215 928,959 
New Look Vision Group, Inc. 207,200 4,740,322 
Pason Systems, Inc. 287,000 4,199,408 
PrairieSky Royalty Ltd. 98,900 2,318,117 
ShawCor Ltd. Class A 117,500 3,282,325 
Tesco Corp. (a) 351,747 3,025,024 
TOTAL CANADA  18,494,155 
Cayman Islands - 0.3%   
58.com, Inc. ADR (a) 87,900 2,564,922 
Denmark - 2.3%   
Jyske Bank A/S (Reg.) 193,127 9,924,868 
Scandinavian Tobacco Group A/S 264,149 4,536,409 
Spar Nord Bank A/S 696,369 8,112,654 
TOTAL DENMARK  22,573,931 
Finland - 0.8%   
Tikkurila Oyj 382,646 7,802,824 
France - 2.6%   
Elis SA (b) 414,962 7,429,275 
Laurent-Perrier Group SA 51,163 3,810,902 
Vetoquinol SA 116,184 6,271,031 
Virbac SA (a) 41,252 7,599,306 
TOTAL FRANCE  25,110,514 
Germany - 4.8%   
CompuGroup Medical AG 434,478 17,072,292 
CTS Eventim AG 528,280 18,308,784 
Fielmann AG 78,873 5,503,670 
Nexus AG 278,558 5,917,842 
TOTAL GERMANY  46,802,588 
India - 0.6%   
Jyothy Laboratories Ltd. (a) 1,189,354 6,141,869 
Ireland - 1.6%   
FBD Holdings PLC (a) 240,328 2,067,690 
James Hardie Industries PLC CDI 874,067 13,708,615 
TOTAL IRELAND  15,776,305 
Isle of Man - 0.8%   
Playtech Ltd. 743,143 7,750,105 
Israel - 2.2%   
Azrieli Group 113,805 5,192,784 
Ituran Location & Control Ltd. 300,908 8,290,015 
Strauss Group Ltd. 464,244 7,465,738 
TOTAL ISRAEL  20,948,537 
Italy - 3.3%   
Azimut Holding SpA 630,097 11,291,149 
Beni Stabili SpA SIIQ 6,607,875 3,716,398 
Interpump Group SpA 926,943 17,401,042 
TOTAL ITALY  32,408,589 
Japan - 28.7%   
Aoki Super Co. Ltd. 318,000 3,962,678 
Artnature, Inc. 620,800 4,151,129 
Asahi Co. Ltd. 398,900 4,684,628 
Autobacs Seven Co. Ltd. 272,100 4,217,297 
Azbil Corp. 551,900 16,643,517 
Broadleaf Co. Ltd. 193,000 1,199,947 
Central Automotive Products Ltd. 134,000 1,371,925 
Century21 Real Estate Japan Ltd. 86,500 1,182,088 
Coca-Cola Central Japan Co. Ltd. 233,700 5,089,614 
Daiichikosho Co. Ltd. 232,300 9,227,398 
Daikokutenbussan Co. Ltd. 171,100 7,940,519 
Funai Soken Holdings, Inc. 235,700 3,655,218 
GCA Savvian Group Corp. 555,461 4,058,589 
Goldcrest Co. Ltd. 534,130 9,489,547 
Iwatsuka Confectionary Co. Ltd. 31,400 1,233,363 
Kobayashi Pharmaceutical Co. Ltd. 252,000 11,226,286 
Koshidaka Holdings Co. Ltd. 166,900 3,427,873 
Kusuri No Aoki Holdings Co. Ltd. 68,000 2,905,854 
Lasertec Corp. 391,136 8,161,513 
Medikit Co. Ltd. 106,100 4,369,542 
Misumi Group, Inc. 452,400 8,454,202 
Nagaileben Co. Ltd. 465,800 10,540,422 
Nakano Refrigerators Co. Ltd. 145,000 3,891,152 
ND Software Co. Ltd. 87,143 852,830 
Nihon Parkerizing Co. Ltd. 1,195,100 14,638,414 
NS Tool Co. Ltd. (b) 71,200 1,085,247 
OBIC Co. Ltd. 336,500 16,152,954 
OSG Corp. (b) 720,000 14,927,996 
Paramount Bed Holdings Co. Ltd. 234,600 9,433,035 
ProNexus, Inc. 592,800 5,544,210 
San-Ai Oil Co. Ltd. 607,700 4,671,717 
SHO-BOND Holdings Co. Ltd. 238,700 10,136,981 
Shoei Co. Ltd. 309,926 7,103,786 
SK Kaken Co. Ltd. 82,000 7,901,514 
Software Service, Inc. 65,900 3,075,839 
Techno Medica Co. Ltd. 79,491 1,459,435 
The Monogatari Corp. 109,300 3,964,073 
TKC Corp. 247,400 7,471,739 
Tocalo Co. Ltd. 117,000 2,657,913 
USS Co. Ltd. 966,500 16,957,192 
Welcia Holdings Co. Ltd. 57,000 3,134,975 
Workman Co. Ltd. 229,500 6,880,325 
Yamada Consulting Group Co. Ltd. 135,700 6,045,266 
Yamato Kogyo Co. Ltd. 104,100 3,116,270 
TOTAL JAPAN  278,296,012 
Korea (South) - 1.8%   
BGFretail Co. Ltd. 190,044 15,132,429 
Leeno Industrial, Inc. 78,630 2,679,866 
TOTAL KOREA (SOUTH)  17,812,295 
Mexico - 0.4%   
Consorcio ARA S.A.B. de CV 11,546,078 3,698,554 
Netherlands - 2.3%   
Aalberts Industries NV 319,501 11,192,048 
Takeaway.com Holding BV (c) 74,887 2,449,063 
VastNed Retail NV 227,355 8,385,107 
TOTAL NETHERLANDS  22,026,218 
Norway - 0.6%   
Kongsberg Gruppen ASA 324,700 5,353,896 
Philippines - 0.5%   
Jollibee Food Corp. 1,259,030 5,210,531 
South Africa - 0.8%   
Clicks Group Ltd. 884,913 8,011,828 
Spain - 2.3%   
Hispania Activos Inmobiliarios SA 366,631 4,511,871 
Merlin Properties Socimi SA 595,300 6,654,396 
Prosegur Compania de Seguridad SA (Reg.) 1,772,590 11,136,634 
TOTAL SPAIN  22,302,901 
Sweden - 4.7%   
Addlife AB (a) 173,200 2,881,023 
AddTech AB (B Shares) 376,343 6,496,758 
Fagerhult AB 590,203 18,993,972 
Intrum Justitia AB 48,939 1,648,253 
Loomis AB (B Shares) 224,700 6,568,553 
Saab AB (B Shares) 221,100 9,028,926 
TOTAL SWEDEN  45,617,485 
Switzerland - 0.5%   
Tecan Group AG 34,000 5,318,781 
Taiwan - 0.4%   
Addcn Technology Co. Ltd. 588,435 3,659,973 
United Kingdom - 18.5%   
AA PLC 1,241,400 3,808,940 
Alliance Pharma PLC 4,548,400 2,860,944 
Avon Rubber PLC 50,000 646,612 
Bellway PLC 93,072 2,908,381 
Berendsen PLC 1,028,163 10,767,797 
Dechra Pharmaceuticals PLC 609,609 11,165,891 
Domino's Pizza UK & IRL PLC 1,197,100 5,456,063 
DP Poland PLC (a)(d) 8,208,000 5,975,978 
Elementis PLC 3,501,710 11,801,400 
Great Portland Estates PLC 1,015,989 7,917,917 
Hilton Food Group PLC 262,072 2,200,658 
Howden Joinery Group PLC 1,695,300 8,048,762 
Informa PLC 1,569,956 12,877,030 
InterContinental Hotel Group PLC ADR 109,975 5,106,139 
ITE Group PLC 3,080,234 6,044,898 
Just Eat Holding Ltd. (a) 596,170 4,046,152 
Rightmove PLC 182,147 9,211,465 
Shaftesbury PLC 1,059,573 11,683,244 
Spectris PLC 560,078 17,029,653 
Spirax-Sarco Engineering PLC 339,491 18,385,780 
Ted Baker PLC 124,300 4,444,018 
Topps Tiles PLC 3,389,815 3,560,763 
Ultra Electronics Holdings PLC 342,558 7,959,424 
Unite Group PLC 774,123 5,711,611 
TOTAL UNITED KINGDOM  179,619,520 
United States of America - 5.0%   
Autoliv, Inc. (b) 40,197 4,649,185 
China Biologic Products, Inc. (a) 94,280 10,742,263 
Domino's Pizza, Inc. 46,200 8,063,748 
Energizer Holdings, Inc. 57,009 2,877,244 
Martin Marietta Materials, Inc. 24,820 5,698,672 
Mohawk Industries, Inc. (a) 20,300 4,381,552 
PriceSmart, Inc. 84,074 7,121,068 
ResMed, Inc. 72,095 4,869,296 
TOTAL UNITED STATES OF AMERICA  48,403,028 
TOTAL COMMON STOCKS   
(Cost $834,481,999)  918,350,133 
Nonconvertible Preferred Stocks - 1.7%   
Germany - 1.7%   
Sartorius AG (non-vtg.)   
(Cost $8,662,189) 230,080 16,144,138 
Money Market Funds - 4.4%   
Fidelity Cash Central Fund, 0.62% (e) 26,556,694 26,562,005 
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f) 16,359,002 16,362,274 
TOTAL MONEY MARKET FUNDS   
(Cost $42,924,279)  42,924,279 
TOTAL INVESTMENT PORTFOLIO - 100.7%   
(Cost $886,068,467)  977,418,550 
NET OTHER ASSETS (LIABILITIES) - (0.7)%  (7,049,212) 
NET ASSETS - 100%  $970,369,338 

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,449,063 or 0.3% of net assets.

 (d) Affiliated company

 (e) 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.

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


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 $19,741 
Fidelity Securities Lending Cash Central Fund 57,366 
Total $77,107 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
DP Poland PLC $5,450,276 $-- $-- $-- $5,975,978 
Total $5,450,276 $-- $-- $-- $5,975,978 

Investment Valuation

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. Additional information on valuation inputs is provided later in this section.

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $893,147,790. Net unrealized appreciation aggregated $84,270,760, of which $157,925,048 related to appreciated investment securities and $73,654,288 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Series International Value Fund

January 31, 2017







VSF-S-QTLY-0317
1.907974.107





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.0%   
 Shares Value 
Australia - 6.1%   
Ansell Ltd. 2,576,407 $46,464,861 
Australia & New Zealand Banking Group Ltd. 10,494,494 233,119,820 
Insurance Australia Group Ltd. 21,559,956 94,345,678 
Macquarie Group Ltd. 1,529,068 98,105,982 
Magellan Financial Group Ltd. 3,034,346 54,079,328 
Westpac Banking Corp. 12,501,342 300,950,842 
TOTAL AUSTRALIA  827,066,511 
Bailiwick of Jersey - 0.7%   
Wolseley PLC 1,533,479 94,968,795 
Belgium - 1.4%   
KBC Groep NV 2,981,339 193,165,695 
Canada - 1.0%   
Imperial Oil Ltd. 2,210,300 72,666,001 
Potash Corp. of Saskatchewan, Inc. 3,251,100 60,487,325 
TOTAL CANADA  133,153,326 
Finland - 1.1%   
Sampo Oyj (A Shares) 3,251,913 150,591,269 
France - 15.0%   
Atos Origin SA 1,522,715 161,894,991 
AXA SA 8,876,673 218,164,318 
Bouygues SA 1,669,483 60,653,273 
Capgemini SA 1,053,705 85,731,457 
Compagnie de St. Gobain 2,264,400 111,262,887 
Havas SA 9,169,131 82,411,389 
Natixis SA 12,371,500 73,252,363 
Sanofi SA 3,103,904 249,480,945 
Societe Generale Series A 4,357,100 213,007,948 
SR Teleperformance SA 841,800 90,063,547 
Total SA 8,175,382 413,635,018 
VINCI SA 2,475,600 173,439,423 
Vivendi SA 4,989,781 91,492,962 
TOTAL FRANCE  2,024,490,521 
Germany - 7.3%   
Axel Springer Verlag AG 1,299,800 68,360,694 
BASF AG 3,121,989 300,351,078 
Brenntag AG 490,086 28,431,031 
Deutsche Telekom AG 11,738,100 205,499,054 
Fresenius SE & Co. KGaA 1,422,700 112,006,234 
GEA Group AG 1,092,090 45,081,563 
HeidelbergCement Finance AG 1,034,200 99,517,581 
Linde AG 130,352 21,170,569 
SAP AG 1,114,660 101,935,902 
TOTAL GERMANY  982,353,706 
Hong Kong - 0.8%   
AIA Group Ltd. 6,574,400 40,704,431 
Power Assets Holdings Ltd. 7,888,550 75,587,008 
TOTAL HONG KONG  116,291,439 
Indonesia - 0.3%   
PT Bank Rakyat Indonesia Tbk 49,558,500 43,517,949 
Ireland - 1.7%   
Allergan PLC 283,800 62,120,982 
CRH PLC 2,800,481 97,136,657 
Medtronic PLC 901,800 68,554,836 
TOTAL IRELAND  227,812,475 
Israel - 0.5%   
Teva Pharmaceutical Industries Ltd. sponsored ADR 2,070,292 69,209,862 
Italy - 1.1%   
Intesa Sanpaolo SpA 41,563,600 97,627,114 
Telecom Italia SpA (a) 66,520,600 57,202,167 
TOTAL ITALY  154,829,281 
Japan - 23.2%   
AEON Financial Service Co. Ltd. 2,996,900 53,668,690 
Astellas Pharma, Inc. 5,070,600 68,056,443 
Daito Trust Construction Co. Ltd. 321,300 44,932,486 
Dentsu, Inc. 1,149,200 53,129,253 
East Japan Railway Co. 740,200 67,064,441 
Fuji Heavy Industries Ltd. 2,630,700 105,777,858 
Hoya Corp. 2,660,800 115,990,236 
Itochu Corp. 10,060,900 138,648,130 
Japan Tobacco, Inc. 1,812,400 58,428,270 
Kao Corp. 1,312,300 64,888,592 
KDDI Corp. 6,254,200 168,040,235 
Komatsu Ltd. 4,199,400 99,436,000 
Makita Corp. 1,425,100 99,079,222 
Mitsubishi UFJ Financial Group, Inc. 53,978,900 345,655,055 
Nintendo Co. Ltd. 187,400 38,357,378 
Nippon Telegraph & Telephone Corp. 3,002,300 132,618,543 
Nomura Holdings, Inc. 17,835,600 110,560,420 
OBIC Co. Ltd. 1,740,600 83,553,733 
Olympus Corp. 2,850,100 98,318,479 
ORIX Corp. 9,878,900 149,351,539 
Recruit Holdings Co. Ltd. 1,419,600 62,172,722 
Seven & i Holdings Co. Ltd. 2,468,630 98,583,409 
Shin-Etsu Chemical Co. Ltd. 1,347,300 116,306,201 
Shinsei Bank Ltd. 36,902,000 63,731,202 
Sony Corp. 3,759,500 113,829,198 
Sony Financial Holdings, Inc. 5,181,800 87,334,739 
Tokio Marine Holdings, Inc. 2,923,600 122,500,678 
Toyota Motor Corp. 6,505,000 378,284,359 
TOTAL JAPAN  3,138,297,511 
Netherlands - 3.2%   
ING Groep NV (Certificaten Van Aandelen) 14,476,434 207,967,781 
PostNL NV (a) 6,894,649 30,173,004 
RELX NV 7,279,624 122,958,182 
Wolters Kluwer NV 2,015,376 76,918,281 
TOTAL NETHERLANDS  438,017,248 
Norway - 1.0%   
Statoil ASA 7,395,725 137,909,527 
Spain - 3.3%   
Banco Santander SA (Spain) 27,234,100 151,376,538 
CaixaBank SA 34,951,308 127,564,917 
Iberdrola SA 25,171,887 158,989,202 
Iberdrola SA 559,375 3,522,834 
TOTAL SPAIN  441,453,491 
Sweden - 3.3%   
Investor AB (B Shares) 2,249,604 89,731,092 
Nordea Bank AB 18,692,333 225,878,245 
Swedbank AB (A Shares) 4,963,200 125,454,553 
TOTAL SWEDEN  441,063,890 
Switzerland - 7.5%   
ABB Ltd. (Reg.) 6,044,270 144,040,045 
Credit Suisse Group AG 4,668,087 71,258,945 
Lafargeholcim Ltd. (Reg.) 1,658,880 88,681,473 
Nestle SA 1,266,792 92,810,934 
Novartis AG 2,089,939 154,295,059 
Syngenta AG (Switzerland) 99,851 42,438,025 
UBS Group AG 13,769,571 221,827,789 
Zurich Insurance Group AG 682,702 196,600,193 
TOTAL SWITZERLAND  1,011,952,463 
United Kingdom - 17.7%   
AstraZeneca PLC (United Kingdom) 3,253,507 172,660,501 
Aviva PLC 28,195,987 169,764,752 
BAE Systems PLC 19,462,550 142,946,544 
BHP Billiton PLC 4,861,355 88,660,508 
BP PLC 46,114,892 275,422,985 
British American Tobacco PLC (United Kingdom) 1,252,600 77,320,412 
Bunzl PLC 4,292,878 112,815,202 
Compass Group PLC 6,903,617 122,864,046 
HSBC Holdings PLC sponsored ADR (b) 6,084,449 259,197,527 
Imperial Tobacco Group PLC 2,658,574 122,859,697 
Informa PLC 14,748,354 120,968,359 
ITV PLC 21,733,785 55,557,118 
Lloyds Banking Group PLC 251,427,600 206,221,464 
Micro Focus International PLC 3,498,500 94,403,874 
Rio Tinto PLC 4,618,584 204,617,115 
Royal Dutch Shell PLC Class B (United Kingdom) 4,530,392 127,958,366 
Vodafone Group PLC sponsored ADR 1,649,366 41,069,213 
TOTAL UNITED KINGDOM  2,395,307,683 
United States of America - 2.8%   
ConocoPhillips Co. 2,499,500 121,875,620 
Constellation Brands, Inc. Class A (sub. vtg.) 349,100 52,281,216 
Edgewell Personal Care Co. (a) 527,600 41,595,984 
Molson Coors Brewing Co. Class B 707,100 68,249,292 
S&P Global, Inc. 753,500 90,555,630 
TOTAL UNITED STATES OF AMERICA  374,557,742 
TOTAL COMMON STOCKS   
(Cost $12,342,789,865)  13,396,010,384 
Nonconvertible Preferred Stocks - 0.5%   
Spain - 0.5%   
Grifols SA Class B   
(Cost $59,427,015) 3,790,000 64,710,820 
Money Market Funds - 0.7%   
Fidelity Cash Central Fund, 0.62% (c) 92,002,799 92,021,199 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 2,342,195 2,342,663 
TOTAL MONEY MARKET FUNDS   
(Cost $94,363,703)  94,363,862 
TOTAL INVESTMENT PORTFOLIO - 100.2%   
(Cost $12,496,580,583)  13,555,085,066 
NET OTHER ASSETS (LIABILITIES) - (0.2)%  (24,666,244) 
NET ASSETS - 100%  $13,530,418,822 

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

Legend

 (a) Non-income producing

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

 (c) 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.

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


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 $185,393 
Fidelity Securities Lending Cash Central Fund 629,911 
Total $815,304 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $1,192,675,236 $486,204,671 $706,470,565 $-- 
Consumer Staples 677,017,806 506,886,460 170,131,346 -- 
Energy 1,149,467,517 194,541,621 954,925,896 -- 
Financials 4,886,834,486 2,557,759,954 2,329,074,532 -- 
Health Care 1,281,869,258 572,665,490 709,203,768 -- 
Industrials 1,700,152,292 984,539,839 715,612,453 -- 
Information Technology 565,877,335 425,584,055 140,293,280 -- 
Materials 1,119,366,532 686,514,227 432,852,305 -- 
Real Estate 44,932,486 44,932,486 -- -- 
Telecommunication Services 604,429,212 41,069,213 563,359,999 -- 
Utilities 238,099,044 3,522,834 234,576,210 -- 
Money Market Funds 94,363,862 94,363,862 -- -- 
Total Investments in Securities: $13,555,085,066 $6,598,584,712 $6,956,500,354 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $632,871,526 
Level 2 to Level 1 $165,381,138 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $12,573,882,249. Net unrealized appreciation aggregated $981,202,817, of which $1,484,703,336 related to appreciated investment securities and $503,500,519 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Emerging Asia Fund

January 31, 2017







SEA-QTLY-0317
1.813038.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%   
 Shares Value 
Australia - 0.3%   
Beacon Lighting Group Ltd. 438,521 $532,119 
Woodside Petroleum Ltd. 102,898 2,462,874 
TOTAL AUSTRALIA  2,994,993 
Bermuda - 3.8%   
Brilliance China Automotive Holdings Ltd. 2,752,000 3,876,855 
Cheung Kong Infrastructure Holdings Ltd. 1,077,000 8,660,918 
Hongkong Land Holdings Ltd. 1,058,500 7,144,875 
Man Wah Holdings Ltd. 6,192,800 3,960,779 
PAX Global Technology Ltd. 1,980,000 1,379,827 
Tai Cheung Holdings Ltd. 2,373,000 2,161,171 
Vtech Holdings Ltd. 447,800 5,558,478 
TOTAL BERMUDA  32,742,903 
Cayman Islands - 16.7%   
Alibaba Group Holding Ltd. sponsored ADR (a) 351,600 35,620,596 
China State Construction International Holdings Ltd. 3,758,000 6,106,577 
Cogobuy Group (a) 1,181,000 1,603,704 
Ctrip.com International Ltd. ADR (a) 184,900 7,989,529 
Haitian International Holdings Ltd. 1,394,000 2,835,725 
International Housewares Retail Co. Ltd. 10,886,000 2,394,659 
JD.com, Inc. sponsored ADR (a) 302,200 8,582,480 
Lee's Pharmaceutical Holdings Ltd. 1,003,366 878,201 
Longfor Properties Co. Ltd. 4,225,000 6,082,646 
NetEase, Inc. ADR 32,100 8,150,190 
Silergy Corp. 246,000 3,746,333 
SITC International Holdings Co. Ltd. 5,435,000 3,375,646 
TCC International Holdings Ltd. 2,680,000 646,817 
Tencent Holdings Ltd. 1,882,400 49,216,070 
Value Partners Group Ltd. 3,607,000 3,096,612 
Xingda International Holdings Ltd. 6,786,000 3,290,766 
Xinyi Glass Holdings Ltd. 1,748,000 1,572,261 
TOTAL CAYMAN ISLANDS  145,188,812 
China - 13.4%   
BBMG Corp. (H Shares) 15,578,000 5,978,213 
Beijing Jingneng Clean Energy Co. Ltd. (H Shares) 6,062,000 1,803,484 
Beijing Urban Consolidated & Development Group Ltd. (H Shares) 1,574,000 990,926 
China Construction Bank Corp. (H Shares) 26,559,000 19,690,550 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 2,466,800 8,762,097 
China Telecom Corp. Ltd. (H Shares) 17,468,000 8,247,315 
Gree Electric Appliances, Inc. of Zhuhai Class A 1,805,900 6,765,253 
Hangzhou Hikvision Digital Technology Co. Ltd. Class A 1,510,600 5,735,831 
Huaneng Renewables Corp. Ltd. (H Shares) 8,644,000 2,682,562 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 1,740,800 4,657,041 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 1,557,251 10,823,468 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A 660,536 6,740,075 
Kweichow Moutai Co. Ltd. (A Shares) 213,775 10,699,234 
PICC Property & Casualty Co. Ltd. (H Shares) 3,075,120 4,648,503 
Shenzhen Expressway Co. (H Shares) 3,940,000 3,589,981 
Weifu High-Technology Co. Ltd. (B Shares) 1,333,439 3,148,462 
Yunnan Baiyao Group Co. Ltd. 514,100 5,633,573 
Zhengzhou Yutong Bus Co. Ltd. 1,912,399 5,630,220 
TOTAL CHINA  116,226,788 
Hong Kong - 9.3%   
AIA Group Ltd. 3,894,800 24,114,081 
China Resources Beer Holdings Co. Ltd. (a) 2,412,666 4,900,399 
CNOOC Ltd. sponsored ADR 65,800 8,279,614 
CSPC Pharmaceutical Group Ltd. 7,584,000 8,535,483 
Dah Sing Financial Holdings Ltd. 557,600 4,305,592 
Hysan Development Co. Ltd. 1,065,000 4,853,680 
Magnificent Hotel Investment Ltd. 6,930,000 158,715 
Power Assets Holdings Ltd. 1,213,000 11,622,800 
Sino Land Ltd. 2,958,000 4,887,644 
Techtronic Industries Co. Ltd. 2,615,500 9,045,994 
TOTAL HONG KONG  80,704,002 
India - 16.0%   
Adani Ports & Special Economic Zone 729,813 3,171,009 
Amara Raja Batteries Ltd. 322,466 4,288,800 
Asian Paints Ltd. 572,252 8,227,579 
Axis Bank Ltd. 1,146,726 7,914,898 
Bajaj Corp. Ltd. 511,162 2,824,773 
Bharat Petroleum Corp. Ltd. 447,639 4,519,486 
Bharti Infratel Ltd. 984,765 4,285,329 
CCL Products (India) Ltd. (a) 306,095 1,359,667 
Coal India Ltd. 317,484 1,453,989 
Gujarat Gas Ltd. 263,733 2,229,709 
Havells India Ltd. 891,782 5,548,293 
HCL Technologies Ltd. 321,191 3,858,907 
HDFC Bank Ltd. 406,570 8,750,951 
Housing Development Finance Corp. Ltd. 641,207 12,971,822 
Indian Oil Corp. Ltd. 1,164,272 6,318,437 
Indraprastha Gas Ltd. 402,064 5,594,892 
Page Industries Ltd. 17,150 3,681,833 
Petronet LNG Ltd. 1,379,595 7,641,258 
Power Grid Corp. of India Ltd. 1,356,066 4,161,696 
Redington India Ltd. 533,540 808,825 
Reliance Industries Ltd. 808,411 12,515,014 
Sterlite Optical Technologies Ltd. (a) 416,688 770,239 
Sun Pharmaceutical Industries Ltd. 955,617 8,938,342 
Tata Motors Ltd. (a) 881,699 6,837,199 
Torrent Pharmaceuticals Ltd. 164,827 3,173,619 
UPL Ltd. (a) 296,415 3,181,912 
Vakrangee Ltd. (a) 566,046 2,562,151 
VST Industries Ltd. (a) 31,444 1,119,204 
TOTAL INDIA  138,709,833 
Indonesia - 3.5%   
PT Bank Central Asia Tbk 9,294,500 10,650,129 
PT Bank Rakyat Indonesia Tbk 9,459,300 8,306,332 
PT Gudang Garam Tbk 1,535,200 7,099,689 
PT Indofood Sukses Makmur Tbk 7,887,900 4,681,641 
TOTAL INDONESIA  30,737,791 
Israel - 0.5%   
Sarine Technologies Ltd. 3,165,100 4,154,706 
Japan - 1.0%   
KDDI Corp. 139,900 3,758,887 
Olympus Corp. 137,200 4,732,920 
TOTAL JAPAN  8,491,807 
Korea (South) - 13.1%   
AMOREPACIFIC Group, Inc. 46,150 5,429,954 
BGFretail Co. Ltd. 76,220 6,069,088 
Hyundai Fire & Marine Insurance Co. Ltd. 138,187 3,611,760 
Hyundai Motor Co. 71,457 8,655,739 
KB Financial Group, Inc. 71,139 2,904,822 
KEPCO Plant Service & Engineering Co. Ltd. 82,890 3,937,083 
Korea Petro Chemical Industries Co. Ltd. 9,528 2,233,833 
Korea Zinc Co. Ltd. 11,200 4,765,399 
LG Household & Health Care Ltd. 8,807 6,722,054 
Loen Entertainment, Inc. (a) 67,767 4,566,307 
LS Industrial Systems Ltd. 70,383 2,576,028 
Medy-Tox, Inc. 11,371 4,087,748 
Osstem Implant Co. Ltd. (a) 99,210 4,953,457 
Samsung Electronics Co. Ltd. 31,257 53,550,003 
TOTAL KOREA (SOUTH)  114,063,275 
Malaysia - 0.2%   
Bursa Malaysia Bhd 408,400 819,658 
YTL Power International Bhd 1,971,100 636,341 
TOTAL MALAYSIA  1,455,999 
Multi-National - 1.2%   
HKT Trust/HKT Ltd. unit 7,360,300 10,281,721 
Philippines - 1.1%   
Ayala Land, Inc. 5,931,600 4,244,575 
Robinsons Land Corp. 5,896,700 2,979,240 
Security Bank Corp. 467,698 2,007,130 
TOTAL PHILIPPINES  9,230,945 
Singapore - 0.8%   
Sheng Siong Group Ltd. 1,442,600 951,941 
UOL Group Ltd. 1,075,700 4,861,964 
Wing Tai Holdings Ltd. 1,041,800 1,282,522 
TOTAL SINGAPORE  7,096,427 
Taiwan - 14.2%   
Advanced Semiconductor Engineering, Inc. 4,835,000 5,354,701 
CTCI Corp. 2,238,000 3,501,528 
E.SUN Financial Holdings Co. Ltd. 11,935,343 7,060,069 
ECLAT Textile Co. Ltd. 356,000 3,709,463 
Fubon Financial Holding Co. Ltd. 4,389,000 7,120,226 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 5,438,460 14,594,159 
Largan Precision Co. Ltd. 64,000 9,130,985 
Micro-Star International Co. Ltd. 2,020,000 4,896,106 
Nien Made Enterprise Co. Ltd. 676,000 6,339,430 
PChome Online, Inc. 312,963 2,593,768 
Pou Chen Corp. 930,000 1,179,253 
Taiwan Semiconductor Manufacturing Co. Ltd. 8,364,192 50,089,541 
Vanguard International Semiconductor Corp. 1,699,000 3,066,758 
Voltronic Power Technology Corp. 304,000 4,137,414 
TOTAL TAIWAN  122,773,401 
Thailand - 2.6%   
Bangkok Bank PCL (For. Reg.) 878,900 4,543,768 
Delta Electronics PCL (For. Reg.) 454,500 1,110,115 
Kasikornbank PCL (For. Reg.) 1,669,200 8,914,762 
PTT Global Chemical PCL (For. Reg.) 1,577,200 3,043,660 
Thai Beverage PCL 7,650,300 4,695,434 
TOTAL THAILAND  22,307,739 
United States of America - 1.2%   
China Biologic Products, Inc. (a) 50,700 5,776,758 
Cognizant Technology Solutions Corp. Class A (a) 92,500 4,864,575 
TOTAL UNITED STATES OF AMERICA  10,641,333 
TOTAL COMMON STOCKS   
(Cost $787,497,239)  857,802,475 
Money Market Funds - 0.5%   
Fidelity Cash Central Fund, 0.62% (b)   
(Cost $3,917,313) 3,916,212 3,916,996 
TOTAL INVESTMENT PORTFOLIO - 99.4%   
(Cost $791,414,552)  861,719,471 
NET OTHER ASSETS (LIABILITIES) - 0.6%  5,260,512 
NET ASSETS - 100%  $866,979,983 

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

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.


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 $19,381 
Fidelity Securities Lending Cash Central Fund 3,454 
Total $22,835 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $87,890,800 $61,987,067 $25,903,733 $-- 
Consumer Staples 67,950,194 63,049,795 4,900,399 -- 
Energy 43,190,672 43,190,672 -- -- 
Financials 150,193,762 73,920,554 76,273,208 -- 
Health Care 57,533,569 48,119,885 9,413,684 -- 
Industrials 53,843,936 36,945,081 16,898,855 -- 
Information Technology 266,658,158 155,059,541 111,598,617 -- 
Materials 28,077,413 21,452,383 6,625,030 -- 
Real Estate 38,498,317 20,513,176 17,985,141 -- 
Telecommunication Services 26,573,252 4,285,329 22,287,923 -- 
Utilities 37,392,402 12,622,638 24,769,764 -- 
Money Market Funds 3,916,996 3,916,996 -- -- 
Total Investments in Securities: $861,719,471 $545,063,117 $316,656,354 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $186,786,237 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $791,590,722. Net unrealized appreciation aggregated $70,128,749, of which $115,998,345 related to appreciated investment securities and $45,869,596 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Japan Fund

January 31, 2017







JPN-QTLY-0317
1.813056.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
CONSUMER DISCRETIONARY - 21.3%   
Auto Components - 3.9%   
Bridgestone Corp. 143,900 $5,280,114 
DaikyoNishikawa Corp. 125,600 1,640,776 
Hi-Lex Corp. 17,200 450,451 
NGK Spark Plug Co. Ltd. 214,300 4,828,440 
Sumitomo Electric Industries Ltd. 249,000 3,633,226 
  15,833,007 
Automobiles - 5.6%   
Fuji Heavy Industries Ltd. 104,500 4,201,842 
Honda Motor Co. Ltd. 339,100 10,091,241 
Suzuki Motor Corp. 223,300 8,640,490 
  22,933,573 
Hotels, Restaurants & Leisure - 0.8%   
Skylark Co. Ltd. 230,600 3,122,730 
Household Durables - 6.8%   
Casio Computer Co. Ltd. 189,200 2,620,749 
Panasonic Corp. 286,700 2,983,096 
Rinnai Corp. 41,200 3,502,967 
Sekisui House Ltd. 95,600 1,548,176 
Sony Corp. 457,600 13,855,098 
Techtronic Industries Co. Ltd. 938,500 3,245,905 
  27,755,991 
Internet & Direct Marketing Retail - 1.3%   
Rakuten, Inc. 317,600 3,171,499 
Start Today Co. Ltd. 123,900 2,329,640 
  5,501,139 
Media - 1.3%   
Dentsu, Inc. 65,600 3,032,787 
NEXT Co. Ltd. (a) 359,000 2,425,976 
  5,458,763 
Multiline Retail - 0.4%   
Don Quijote Holdings Co. Ltd. 50,700 1,838,779 
Specialty Retail - 1.2%   
Nitori Holdings Co. Ltd. 15,600 1,743,619 
USS Co. Ltd. 179,400 3,147,564 
  4,891,183 
TOTAL CONSUMER DISCRETIONARY  87,335,165 
CONSUMER STAPLES - 9.0%   
Food & Staples Retailing - 5.4%   
Ain Holdings, Inc. 39,300 2,881,977 
San-A Co. Ltd. 49,600 2,297,476 
Seven & i Holdings Co. Ltd. 182,500 7,288,039 
Sundrug Co. Ltd. 50,800 3,500,345 
Tsuruha Holdings, Inc. 22,800 2,140,466 
Welcia Holdings Co. Ltd. 74,700 4,108,467 
  22,216,770 
Food Products - 0.1%   
Japan Meat Co. Ltd. 31,900 511,372 
Personal Products - 1.5%   
Kao Corp. 77,400 3,827,156 
Kose Corp. 27,100 2,304,136 
  6,131,292 
Tobacco - 2.0%   
Japan Tobacco, Inc. 249,700 8,049,845 
TOTAL CONSUMER STAPLES  36,909,279 
FINANCIALS - 13.0%   
Banks - 5.1%   
Mitsubishi UFJ Financial Group, Inc. 2,551,400 16,337,945 
Shinsei Bank Ltd. 2,594,000 4,479,940 
  20,817,885 
Capital Markets - 0.5%   
Monex Group, Inc. 833,700 2,207,743 
Consumer Finance - 0.6%   
AEON Financial Service Co. Ltd. 138,700 2,483,849 
Diversified Financial Services - 3.7%   
Kyushu Railway Co. 50,600 1,371,322 
ORIX Corp. 912,300 13,792,366 
  15,163,688 
Insurance - 3.1%   
Sony Financial Holdings, Inc. 201,600 3,397,793 
Tokio Marine Holdings, Inc. 217,800 9,125,957 
  12,523,750 
TOTAL FINANCIALS  53,196,915 
HEALTH CARE - 11.0%   
Biotechnology - 0.6%   
PeptiDream, Inc. (a)(b) 44,300 2,197,148 
Health Care Equipment & Supplies - 6.4%   
Hoya Corp. 310,500 13,535,391 
Nakanishi, Inc. 21,000 811,841 
Olympus Corp. 259,300 8,944,943 
Paramount Bed Holdings Co. Ltd. 73,200 2,943,300 
  26,235,475 
Health Care Providers & Services - 1.1%   
Ship Healthcare Holdings, Inc. 140,300 3,721,535 
Solasto Corp. 64,000 747,640 
  4,469,175 
Pharmaceuticals - 2.9%   
Astellas Pharma, Inc. 739,900 9,930,770 
Shionogi & Co. Ltd. 42,500 2,042,002 
  11,972,772 
TOTAL HEALTH CARE  44,874,570 
INDUSTRIALS - 16.0%   
Building Products - 1.6%   
Daikin Industries Ltd. 64,500 6,412,297 
Construction & Engineering - 1.0%   
Toshiba Plant Systems & Services Corp. 265,900 4,005,809 
Electrical Equipment - 3.7%   
Mitsubishi Electric Corp. 447,000 6,815,256 
Nidec Corp. 88,900 8,353,813 
  15,169,069 
Machinery - 2.8%   
Komatsu Ltd. 78,800 1,865,875 
Kubota Corp. 219,600 3,500,841 
SMC Corp. 22,400 6,132,176 
  11,498,892 
Professional Services - 1.8%   
Benefit One, Inc. 89,500 2,278,124 
Outsourcing, Inc. (a) 65,400 2,198,149 
Recruit Holdings Co. Ltd. 71,700 3,140,169 
  7,616,442 
Road & Rail - 2.8%   
East Japan Railway Co. 127,300 11,533,779 
Trading Companies & Distributors - 2.3%   
Misumi Group, Inc. 321,800 6,013,621 
Mitsui & Co. Ltd. 238,100 3,493,160 
  9,506,781 
TOTAL INDUSTRIALS  65,743,069 
INFORMATION TECHNOLOGY - 13.6%   
Electronic Equipment & Components - 7.3%   
Alps Electric Co. Ltd. 20,600 550,075 
Azbil Corp. 162,900 4,912,537 
Iriso Electronics Co. Ltd. 18,100 1,013,126 
Murata Manufacturing Co. Ltd. 18,700 2,526,512 
OMRON Corp. 60,600 2,487,654 
Shimadzu Corp. 613,000 10,364,157 
TDK Corp. 55,400 3,989,036 
Topcon Corp. 259,500 3,989,833 
  29,832,930 
Internet Software & Services - 3.7%   
Alibaba Group Holding Ltd. sponsored ADR (b) 23,400 2,370,654 
DeNA Co. Ltd. 143,800 3,220,886 
Kakaku.com, Inc. 411,900 7,456,590 
SMS Co., Ltd. 83,700 2,005,953 
  15,054,083 
IT Services - 0.3%   
Otsuka Corp. 25,900 1,332,734 
Semiconductors & Semiconductor Equipment - 1.4%   
Sumco Corp. 367,100 5,757,985 
Software - 0.9%   
Nintendo Co. Ltd. 17,600 3,602,400 
TOTAL INFORMATION TECHNOLOGY  55,580,132 
MATERIALS - 6.0%   
Chemicals - 6.0%   
Daicel Chemical Industries Ltd. 208,300 2,309,730 
Hitachi Chemical Co. Ltd. 134,900 3,835,170 
Kansai Paint Co. Ltd. 172,100 3,344,145 
Shin-Etsu Chemical Co. Ltd. 87,600 7,562,104 
Sumitomo Chemical Co. Ltd. 563,000 3,006,722 
Toray Industries, Inc. 524,000 4,536,909 
  24,594,780 
REAL ESTATE - 0.3%   
Equity Real Estate Investment Trusts (REITs) - 0.3%   
Invincible Investment Corp. 2,530 1,196,546 
TELECOMMUNICATION SERVICES - 9.4%   
Diversified Telecommunication Services - 1.0%   
Nippon Telegraph & Telephone Corp. 95,900 4,236,125 
Wireless Telecommunication Services - 8.4%   
KDDI Corp. 580,800 15,605,156 
SoftBank Corp. 240,400 18,520,364 
  34,125,520 
TOTAL TELECOMMUNICATION SERVICES  38,361,645 
TOTAL COMMON STOCKS   
(Cost $361,842,729)  407,792,101 
Money Market Funds - 1.7%   
Fidelity Cash Central Fund, 0.62% (c) 294,859 294,918 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 6,752,140 6,753,490 
TOTAL MONEY MARKET FUNDS   
(Cost $7,048,267)  7,048,408 
TOTAL INVESTMENT PORTFOLIO - 101.3%   
(Cost $368,890,996)  414,840,509 
NET OTHER ASSETS (LIABILITIES) - (1.3)%  (5,433,744) 
NET ASSETS - 100%  $409,406,765 

Legend

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

 (b) Non-income producing

 (c) 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.

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


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 $3,711 
Fidelity Securities Lending Cash Central Fund 31,440 
Total $35,151 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $87,335,165 $57,159,825 $30,175,340 $-- 
Consumer Staples 36,909,279 36,909,279 -- -- 
Financials 53,196,915 36,858,970 16,337,945 -- 
Health Care 44,874,570 34,943,800 9,930,770 -- 
Industrials 65,743,069 63,877,194 1,865,875 -- 
Information Technology 55,580,132 51,977,732 3,602,400 -- 
Materials 24,594,780 24,594,780 -- -- 
Real Estate 1,196,546 1,196,546 -- -- 
Telecommunication Services 38,361,645 -- 38,361,645 -- 
Money Market Funds 7,048,408 7,048,408 -- -- 
Total Investments in Securities: $414,840,509 $314,566,534 $100,273,975 $-- 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $373,276,184. Net unrealized appreciation aggregated $41,564,325, of which $57,582,586 related to appreciated investment securities and $16,018,261 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® China Region Fund

January 31, 2017







HKC-QTLY-0317
1.813032.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
CONSUMER DISCRETIONARY - 12.8%   
Automobiles - 2.7%   
Chongqing Changan Automobile Co. Ltd. (B Shares) (a) 5,582,978 $7,915,137 
Guangzhou Automobile Group Co. Ltd. (H Shares) 2,324,000 3,169,503 
SAIC Motor Corp. Ltd. 4,035,015 14,869,687 
  25,954,327 
Diversified Consumer Services - 1.3%   
New Oriental Education & Technology Group, Inc. sponsored ADR (b) 263,000 12,505,650 
Hotels, Restaurants & Leisure - 1.2%   
Huangshan Tourism Development Co. Ltd. (a) 3,833,914 5,260,130 
Melco Crown Entertainment Ltd. sponsored ADR (c) 354,300 5,966,412 
  11,226,542 
Household Durables - 3.0%   
Hangzhou Robam Appliances Co. Ltd. Class A 762,963 4,323,899 
Midea Group Co. Ltd. Class A 2,288,400 9,942,842 
Nien Made Enterprise Co. Ltd. 432,000 4,051,234 
Sundart Holdings Ltd. 20,000,000 11,274,058 
  29,592,033 
Internet & Direct Marketing Retail - 3.4%   
Ctrip.com International Ltd. ADR (b) 99,400 4,295,074 
JD.com, Inc. sponsored ADR (b) 1,016,200 28,860,080 
  33,155,154 
Specialty Retail - 0.5%   
Chow Tai Fook Jewellery Group Ltd. 5,333,800 4,534,829 
Textiles, Apparel & Luxury Goods - 0.7%   
JNBY Design Ltd. 6,510,000 5,814,523 
Lao Feng Xiang Co. Ltd. (B Shares) (a) 237,434 834,818 
  6,649,341 
TOTAL CONSUMER DISCRETIONARY  123,617,876 
CONSUMER STAPLES - 7.9%   
Beverages - 5.9%   
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A 1,429,969 14,591,330 
Kweichow Moutai Co. Ltd. (A Shares) 468,532 23,449,578 
Wuliangye Yibin Co. Ltd. Class A 3,595,656 19,332,467 
  57,373,375 
Food & Staples Retailing - 1.3%   
COFCO Meat Holdings Ltd. 38,518,000 7,863,552 
Zhou Hei Ya International Holdings Co. Ltd. 5,918,500 5,218,248 
  13,081,800 
Food Products - 0.7%   
China Modern Dairy Holdings Ltd. (b)(c) 26,241,000 6,470,892 
TOTAL CONSUMER STAPLES  76,926,067 
ENERGY - 6.7%   
Energy Equipment & Services - 2.8%   
China Oilfield Services Ltd. (H Shares) 25,148,000 26,826,084 
Oil, Gas & Consumable Fuels - 3.9%   
CNOOC Ltd. 16,635,000 20,773,030 
PetroChina Co. Ltd. (H Shares) 22,126,000 17,577,583 
  38,350,613 
TOTAL ENERGY  65,176,697 
FINANCIALS - 9.9%   
Banks - 5.3%   
China Construction Bank Corp. (H Shares) 40,879,000 30,307,240 
Industrial & Commercial Bank of China Ltd. (H Shares) 33,821,000 20,677,657 
  50,984,897 
Capital Markets - 0.2%   
CITIC Securities Co. Ltd. (H Shares) 1,156,000 2,352,383 
Diversified Financial Services - 0.2%   
GDS Holdings Ltd. ADR 237,800 1,964,228 
Insurance - 4.2%   
China Pacific Insurance (Group) Co. Ltd. (H Shares) 5,143,600 18,270,116 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 4,377,000 22,453,041 
  40,723,157 
TOTAL FINANCIALS  96,024,665 
HEALTH CARE - 4.6%   
Health Care Providers & Services - 1.0%   
China Resources Phoenix Health 7,070,000 9,511,792 
Life Sciences Tools & Services - 0.9%   
JHL Biotech, Inc. (b) 3,976,696 9,043,364 
Pharmaceuticals - 2.7%   
CSPC Pharmaceutical Group Ltd. 10,938,000 12,310,274 
Livzon Pharmaceutical Group, Inc. 1,260,800 7,220,219 
Yunnan Baiyao Group Co. Ltd. 559,400 6,129,977 
  25,660,470 
TOTAL HEALTH CARE  44,215,626 
INDUSTRIALS - 9.2%   
Commercial Services & Supplies - 0.3%   
Focused Photonics Hangzhou, Inc. 561,697 2,471,527 
Construction & Engineering - 4.8%   
Beijing Urban Consolidated & Development Group Ltd. (H Shares) 20,963,000 13,197,442 
China Communications Construction Co. Ltd. (H Shares) 13,323,000 16,035,414 
China Energy Engineering Corp. Ltd. 27,132,000 4,873,609 
China State Construction International Holdings Ltd. 7,898,000 12,833,887 
  46,940,352 
Electrical Equipment - 1.5%   
Harbin Electric Machinery Co. Ltd.(H Shares) 21,974,000 10,996,898 
Jiangnan Group Ltd. 25,552,000 3,612,670 
  14,609,568 
Machinery - 0.8%   
Sany Heavy Industry Co. Ltd. Class A 7,886,277 7,884,386 
Road & Rail - 0.7%   
Daqin Railway Co. Ltd. (A Shares) 6,192,097 6,424,560 
Trading Companies & Distributors - 1.1%   
Summit Ascent Holdings Ltd. (b)(c) 35,866,000 10,357,847 
TOTAL INDUSTRIALS  88,688,240 
INFORMATION TECHNOLOGY - 36.4%   
Electronic Equipment & Components - 7.8%   
Chroma ATE, Inc. 3,904,000 10,251,121 
Hangzhou Hikvision Digital Technology Co. Ltd. Class A 3,196,700 12,138,044 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 9,550,400 25,628,588 
Largan Precision Co. Ltd. 128,000 18,261,971 
Lens Technology Co. Ltd. Class A 839,047 3,131,041 
Tongda Group Holdings Ltd. 20,390,000 5,697,675 
  75,108,440 
Internet Software & Services - 17.0%   
58.com, Inc. ADR (b) 38,700 1,129,266 
Alibaba Group Holding Ltd. sponsored ADR (b) 534,600 54,160,326 
NetEase, Inc. ADR 91,400 23,206,460 
Tencent Holdings Ltd. 3,262,000 85,286,241 
Weibo Corp. sponsored ADR (b)(c) 9,970 480,753 
  164,263,046 
Semiconductors & Semiconductor Equipment - 9.1%   
Advanced Semiconductor Engineering, Inc. 9,595,000 10,626,341 
Taiwan Semiconductor Manufacturing Co. Ltd. 11,888,000 71,192,108 
Vanguard International Semiconductor Corp. 3,584,000 6,469,252 
  88,287,701 
Software - 1.0%   
China City Railway Transportation Technology Holdings Co. Ltd. (b) 48,540,000 9,700,924 
Technology Hardware, Storage & Peripherals - 1.5%   
ADLINK Technology, Inc. 3,682,844 8,466,037 
Advantech Co. Ltd. 296,000 2,514,868 
Axiomtek Co. Ltd. 2,000,000 3,545,951 
  14,526,856 
TOTAL INFORMATION TECHNOLOGY  351,886,967 
MATERIALS - 8.8%   
Construction Materials - 3.3%   
BBMG Corp. (H Shares) 49,643,000 19,050,996 
China Shanshui Cement Group Ltd. (b)(c) 20,656,000 2,659,571 
TCC International Holdings Ltd. 28,948,000 6,986,588 
West China Cement Ltd. (b) 26,992,000 3,716,954 
  32,414,109 
Metals & Mining - 5.5%   
Angang Steel Co. Ltd.:   
(A Shares) (b) 5,819,352 5,116,081 
(H Shares) (b) 10,712,000 8,200,992 
Baoshan Iron & Steel Co. Ltd. 7,863,359 7,770,061 
Jiangxi Copper Co. Ltd. (H Shares) 4,214,000 7,277,307 
Zhaojin Mining Industry Co. Ltd. (H Shares) 14,065,000 12,646,029 
Zijin Mng Group Co. Ltd. (H Shares) 35,106,000 12,011,964 
  53,022,434 
TOTAL MATERIALS  85,436,543 
REAL ESTATE - 1.4%   
Real Estate Management & Development - 1.4%   
Beijing Capital Land Ltd. (H Shares) 35,170,000 13,903,166 
UTILITIES - 1.9%   
Independent Power and Renewable Electricity Producers - 1.9%   
Canvest Environmental Protection Group Co. Ltd. (c) 16,700,000 8,388,475 
Huaneng Renewables Corp. Ltd. (H Shares) 31,944,000 9,913,440 
  18,301,915 
TOTAL COMMON STOCKS   
(Cost $892,467,394)  964,177,762 
Convertible Preferred Stocks - 0.7%   
CONSUMER DISCRETIONARY - 0.7%   
Internet & Direct Marketing Retail - 0.7%   
China Internet Plus Holdings Ltd. Series A-11 (b)(d)   
(Cost $6,268,244) 1,983,088 6,268,343 
Money Market Funds - 1.4%   
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f)   
(Cost $13,763,039) 13,762,334 13,765,086 
TOTAL INVESTMENT PORTFOLIO - 101.7%   
(Cost $912,498,677)  984,211,191 
NET OTHER ASSETS (LIABILITIES) - (1.7)%  (16,533,355) 
NET ASSETS - 100%  $967,677,836 

Legend

 (a) A portion of the security sold on a delayed delivery basis.

 (b) Non-income producing

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

 (d) 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 $6,268,343 or 0.6% of net assets.

 (e) 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
China Internet Plus Holdings Ltd. Series A-11 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 $28,371 
Fidelity Securities Lending Cash Central Fund 169,423 
Total $197,794 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $129,886,219 $98,824,963 $24,792,913 $6,268,343 
Consumer Staples 76,926,067 57,373,375 19,552,692 -- 
Energy 65,176,697 -- 65,176,697 -- 
Financials 96,024,665 1,964,228 94,060,437 -- 
Health Care 44,215,626 15,173,341 29,042,285 -- 
Industrials 88,688,240 16,780,473 71,907,767 -- 
Information Technology 351,886,967 169,383,678 182,503,289 -- 
Materials 85,436,543 5,116,081 69,890,830 10,429,632 
Real Estate 13,903,166 -- 13,903,166 -- 
Utilities 18,301,915 -- 18,301,915 -- 
Money Market Funds 13,765,086 13,765,086 -- -- 
Total Investments in Securities: $984,211,191 $378,381,225 $589,131,991 $16,697,975 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $263,512,490 
Level 2 to Level 1 $0 

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

Investments in Securities:  
Equities - Materials  
Beginning Balance $2,660,720 
Net Realized Gain (Loss) on Investment Securities -- 
Net Unrealized Gain (Loss) on Investment Securities (50,264) 
Cost of Purchases 7,819,176 
Proceeds of Sales -- 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 -- 
Ending Balance $10,429,632 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2017 $(50,264) 
Other Investments in Securities  
Beginning Balance $13,372,196 
Net Realized Gain (Loss) on Investment Securities (486,394) 
Net Unrealized Gain (Loss) on Investment Securities (717,229) 
Cost of Purchases -- 
Proceeds of Sales (5,900,230) 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 -- 
Ending Balance $6,268,343 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2017 $(1,387,765) 

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 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.

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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. Equity securities, including restricted securities, for which observable inputs are not available, are valued using alternate valuation approaches, including the market approach and the income approach and are categorized as Level 3 in the hierarchy. The market approach generally consists of using comparable market transactions while the income approach generally consists of using the net present value of estimated future cash flows, adjusted as appropriate for liquidity, credit, market and/or other risk factors.

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 at 01/31/17 Valuation Technique (s) Unobservable Input Amount or Range / Weighted Average Impact to Valuation from an Increase in Input(a) 
Equities $16,697,975 Book value Book value multiple 1.0 Increase 
  Market approach Transaction price $3.16 - $6.80 / $5.18 Increase 
   Discount for lack of marketability 10.0% Decrease 

 (a) 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.


Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $914,450,610. Net unrealized appreciation aggregated $69,760,581, of which $120,995,950 related to appreciated investment securities and $51,235,369 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Total International Equity Fund

January 31, 2017







TIE-QTLY-0317
1.863104.109





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.7%   
 Shares Value 
Australia - 3.4%   
Amcor Ltd. 38,844 $421,268 
Ansell Ltd. 20,886 376,674 
Australia & New Zealand Banking Group Ltd. 80,827 1,795,453 
Beacon Lighting Group Ltd. 45,008 54,615 
CSL Ltd. 37,891 3,230,208 
DuluxGroup Ltd. 31,910 146,897 
Imdex Ltd. (a) 134,227 69,222 
Insurance Australia Group Ltd. 157,831 690,663 
Macquarie Group Ltd. 11,190 717,958 
Magellan Financial Group Ltd. 23,701 422,409 
RCG Corp. Ltd. 128,117 132,629 
TFS Corp. Ltd. 89,037 106,015 
Transurban Group unit 93,952 726,783 
Westpac Banking Corp. 96,570 2,324,776 
TOTAL AUSTRALIA  11,215,570 
Austria - 0.7%   
Andritz AG 28,872 1,557,275 
Buwog-Gemeinnuetzige Wohnung 26,449 630,421 
TOTAL AUSTRIA  2,187,696 
Bailiwick of Jersey - 0.2%   
Integrated Diagnostics Holdings PLC 27,500 70,538 
Wolseley PLC 11,958 740,562 
TOTAL BAILIWICK OF JERSEY  811,100 
Belgium - 2.0%   
Anheuser-Busch InBev SA NV 39,371 4,111,043 
Gimv NV 919 51,240 
KBC Ancora (a) 4,781 210,495 
KBC Groep NV 32,916 2,132,680 
TOTAL BELGIUM  6,505,458 
Bermuda - 0.2%   
Credicorp Ltd. (United States) 3,800 621,984 
Vostok New Ventures Ltd. SDR (a) 15,960 129,547 
TOTAL BERMUDA  751,531 
Brazil - 1.6%   
BB Seguridade Participacoes SA 65,500 580,148 
Cielo SA 69,236 582,039 
Drogasil SA 19,400 403,256 
Equatorial Energia SA 28,600 527,327 
Kroton Educacional SA 131,500 563,792 
Odontoprev SA 119,600 425,476 
Qualicorp SA 69,500 454,570 
Smiles SA 32,300 533,020 
Ultrapar Participacoes SA 27,600 579,485 
Weg SA 99,200 500,864 
TOTAL BRAZIL  5,149,977 
Canada - 5.2%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 61,903 2,835,764 
Canadian National Railway Co. 31,059 2,158,675 
Canadian Pacific Railway Ltd. 6,000 907,481 
CCL Industries, Inc. Class B 8,166 1,680,580 
Constellation Software, Inc. 3,762 1,699,166 
Franco-Nevada Corp. 22,200 1,444,002 
Imperial Oil Ltd. 66,126 2,173,964 
McCoy Global, Inc. (a) 15,800 23,070 
New Look Vision Group, Inc. 3,500 80,073 
Pason Systems, Inc. 57,978 848,339 
Potash Corp. of Saskatchewan, Inc. 122,026 2,270,317 
PrairieSky Royalty Ltd. 39,000 914,121 
ShawCor Ltd. Class A 2,000 55,869 
Tesco Corp. (a) 5,700 49,020 
TOTAL CANADA  17,140,441 
Cayman Islands - 3.5%   
58.com, Inc. ADR (a) 10,600 309,308 
Alibaba Group Holding Ltd. sponsored ADR (a) 33,000 3,343,230 
Baidu.com, Inc. sponsored ADR (a) 7,900 1,383,053 
Ctrip.com International Ltd. ADR (a) 16,800 725,928 
International Housewares Retail Co. Ltd. 268,000 58,954 
NetEase, Inc. ADR 3,300 837,870 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 11,600 551,580 
Shenzhou International Group Holdings Ltd. 76,000 468,798 
TAL Education Group ADR (a) 6,300 510,237 
Tencent Holdings Ltd. 129,600 3,388,442 
TOTAL CAYMAN ISLANDS  11,577,400 
Chile - 0.1%   
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 15,100 488,032 
China - 0.7%   
Gree Electric Appliances, Inc. of Zhuhai Class A 103,900 389,230 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 148,700 397,807 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 62,816 436,594 
Kweichow Moutai Co. Ltd. (A Shares) 8,294 415,107 
Shanghai International Airport Co. Ltd. (A Shares) 106,100 423,990 
Wuliangye Yibin Co. Ltd. Class A 70,500 379,052 
TOTAL CHINA  2,441,780 
Denmark - 0.6%   
Jyske Bank A/S (Reg.) 15,454 794,187 
Novo Nordisk A/S Series B sponsored ADR 26,200 947,654 
Scandinavian Tobacco Group A/S 4,598 78,965 
Spar Nord Bank A/S 13,031 151,810 
TOTAL DENMARK  1,972,616 
Finland - 0.5%   
Sampo Oyj (A Shares) 25,053 1,160,167 
Tikkurila Oyj 26,280 535,895 
TOTAL FINLAND  1,696,062 
France - 5.3%   
Atos Origin SA 11,998 1,275,627 
AXA SA 69,006 1,695,979 
Bouygues SA 13,002 472,370 
Capgemini SA 8,202 667,330 
Compagnie de St. Gobain 17,700 869,702 
Dassault Systemes SA 5,300 410,106 
Elis SA 7,300 130,696 
Elis SA rights 2/3/17 (a) 7,300 7,510 
Essilor International SA 7,184 840,656 
Havas SA 73,304 658,850 
Laurent-Perrier Group SA 959 71,432 
Natixis SA 96,500 571,382 
Sanofi SA 24,026 1,931,126 
Societe Generale Series A 33,500 1,637,733 
SR Teleperformance SA 6,600 706,129 
Total SA 63,620 3,218,866 
Vetoquinol SA 1,900 102,553 
VINCI SA 19,500 1,366,161 
Virbac SA (a) 830 152,900 
Vivendi SA 39,952 732,563 
TOTAL FRANCE  17,519,671 
Germany - 4.4%   
Axel Springer Verlag AG 10,100 531,192 
BASF AG 24,286 2,336,436 
Bayer AG 19,100 2,121,612 
Brenntag AG 6,600 382,881 
CompuGroup Medical AG 8,546 335,805 
CTS Eventim AG 9,711 336,558 
Deutsche Telekom AG 92,500 1,619,399 
Fielmann AG 1,358 94,760 
Fresenius SE & Co. KGaA 11,000 866,007 
GEA Group AG 8,525 351,913 
HeidelbergCement Finance AG 8,000 769,813 
Linde AG 900 146,170 
Nexus AG 4,000 84,978 
SAP AG 38,390 3,510,774 
Symrise AG 6,900 414,512 
Wirecard AG 9,700 469,212 
TOTAL GERMANY  14,372,022 
Greece - 0.1%   
Titan Cement Co. SA (Reg.) 18,400 413,345 
Hong Kong - 1.4%   
AIA Group Ltd. 502,000 3,108,059 
Guangdong Investment Ltd. 380,000 471,544 
Power Assets Holdings Ltd. 60,000 574,912 
Techtronic Industries Co. Ltd. 110,500 382,176 
TOTAL HONG KONG  4,536,691 
India - 3.0%   
Amara Raja Batteries Ltd. 32,328 429,963 
Asian Paints Ltd. 36,000 517,592 
Bajaj Auto Ltd. 11,329 475,452 
Colgate-Palmolive Ltd. 26,657 350,472 
Eicher Motors Ltd. 1,370 467,288 
Godrej Consumer Products Ltd. 21,770 509,579 
HDFC Bank Ltd. 23,304 501,592 
Hero Motocorp Ltd. 9,461 444,547 
Hindustan Unilever Ltd. 37,461 474,623 
Housing Development Finance Corp. Ltd. 100,034 2,023,720 
IndusInd Bank Ltd. 27,353 507,255 
ITC Ltd. 181,875 695,282 
Jyothy Laboratories Ltd. (a) 20,604 106,400 
LIC Housing Finance Ltd. 57,351 470,216 
Maruti Suzuki India Ltd. 7,000 611,120 
Power Grid Corp. of India Ltd. 151,478 464,878 
Tata Consultancy Services Ltd. 8,194 270,621 
Zee Entertainment Enterprises Ltd. 70,690 512,153 
TOTAL INDIA  9,832,753 
Indonesia - 0.8%   
PT ACE Hardware Indonesia Tbk 3,126,600 174,448 
PT Bank Central Asia Tbk 625,700 716,960 
PT Bank Rakyat Indonesia Tbk 1,137,500 998,853 
PT Kalbe Farma Tbk 3,648,100 396,161 
PT Surya Citra Media Tbk 1,790,100 378,063 
TOTAL INDONESIA  2,664,485 
Ireland - 1.8%   
Allergan PLC 2,200 481,558 
CRH PLC 22,048 764,750 
CRH PLC sponsored ADR 62,529 2,158,501 
FBD Holdings PLC (a) 5,372 46,219 
James Hardie Industries PLC CDI 120,962 1,897,133 
Medtronic PLC 7,000 532,140 
TOTAL IRELAND  5,880,301 
Isle of Man - 0.2%   
Playtech Ltd. 61,992 646,503 
Israel - 0.5%   
Azrieli Group 9,096 415,039 
Frutarom Industries Ltd. 8,100 427,396 
Ituran Location & Control Ltd. 5,661 155,961 
Strauss Group Ltd. 7,659 123,168 
Teva Pharmaceutical Industries Ltd. sponsored ADR 16,109 538,524 
TOTAL ISRAEL  1,660,088 
Italy - 0.8%   
Azimut Holding SpA 23,314 417,780 
Beni Stabili SpA SIIQ 121,626 68,405 
Interpump Group SpA 55,891 1,049,214 
Intesa Sanpaolo SpA 324,100 761,266 
Telecom Italia SpA (a) 539,900 464,269 
TOTAL ITALY  2,760,934 
Japan - 13.3%   
AEON Financial Service Co. Ltd. 23,400 419,049 
Aoki Super Co. Ltd. 6,000 74,768 
Artnature, Inc. 11,500 76,898 
Asahi Co. Ltd. 7,000 82,207 
Astellas Pharma, Inc. 122,900 1,649,536 
Autobacs Seven Co. Ltd. 4,800 74,396 
Azbil Corp. 10,400 313,630 
Broadleaf Co. Ltd. 5,400 33,574 
Central Automotive Products Ltd. 8,000 81,906 
Century21 Real Estate Japan Ltd. 4,000 54,663 
Coca-Cola Central Japan Co. Ltd. 1,400 30,490 
Daiichikosho Co. Ltd. 4,100 162,860 
Daikokutenbussan Co. Ltd. 4,000 185,635 
Daito Trust Construction Co. Ltd. 2,500 349,615 
DENSO Corp. 29,900 1,297,847 
Dentsu, Inc. 8,700 402,214 
East Japan Railway Co. 18,200 1,648,977 
Fuji Heavy Industries Ltd. 20,500 824,285 
Funai Soken Holdings, Inc. 3,700 57,379 
GCA Savvian Group Corp. 10,100 73,798 
Goldcrest Co. Ltd. 10,060 178,730 
Hokuriku Electrical Construction Co. Ltd. 6,700 52,515 
Hoya Corp. 46,000 2,005,243 
Hub Co. Ltd. 2,500 39,523 
Itochu Corp. 78,500 1,081,800 
Japan Tobacco, Inc. 23,220 748,568 
Kao Corp. 10,400 514,243 
KDDI Corp. 48,300 1,297,743 
Keyence Corp. 5,942 2,308,702 
Kobayashi Pharmaceutical Co. Ltd. 4,700 209,379 
Komatsu Ltd. 59,800 1,415,982 
Koshidaka Holdings Co. Ltd. 4,000 82,154 
Kusuri No Aoki Holdings Co. Ltd. 1,200 51,280 
Lasertec Corp. 6,300 131,457 
Makita Corp. 10,800 750,864 
Medikit Co. Ltd. 1,900 78,248 
Misumi Group, Inc. 51,800 968,010 
Mitsubishi UFJ Financial Group, Inc. 414,200 2,652,339 
Mitsui Fudosan Co. Ltd. 44,000 1,019,626 
Nagaileben Co. Ltd. 9,200 208,184 
Nakano Refrigerators Co. Ltd. 2,200 59,038 
ND Software Co. Ltd. 6,000 58,719 
Nihon Parkerizing Co. Ltd. 23,000 281,720 
Nintendo Co. Ltd. 3,800 777,791 
Nippon Telegraph & Telephone Corp. 23,400 1,033,632 
Nomura Holdings, Inc. 139,100 862,262 
NS Tool Co. Ltd. 7,600 115,841 
OBIC Co. Ltd. 19,200 921,654 
Olympus Corp. 52,000 1,793,818 
ORIX Corp. 77,100 1,165,616 
OSG Corp. 42,000 870,800 
Paramount Bed Holdings Co. Ltd. 4,600 184,961 
ProNexus, Inc. 9,400 87,914 
Recruit Holdings Co. Ltd. 12,300 538,690 
San-Ai Oil Co. Ltd. 11,400 87,638 
Seven & i Holdings Co. Ltd. 18,700 746,774 
Shin-Etsu Chemical Co. Ltd. 10,500 906,417 
Shinsei Bank Ltd. 288,000 497,387 
SHO-BOND Holdings Co. Ltd. 22,100 938,531 
Shoei Co. Ltd. 5,800 132,941 
SK Kaken Co. Ltd. 1,100 105,996 
Software Service, Inc. 1,600 74,679 
Sony Corp. 29,400 890,166 
Sony Financial Holdings, Inc. 40,400 680,907 
Techno Medica Co. Ltd. 1,800 33,048 
The Monogatari Corp. 1,700 61,655 
TKC Corp. 3,700 111,744 
Tocalo Co. Ltd. 2,800 63,608 
Tokio Marine Holdings, Inc. 22,200 930,194 
Toyota Motor Corp. 50,400 2,930,904 
USS Co. Ltd. 115,700 2,029,950 
Welcia Holdings Co. Ltd. 1,200 65,999 
Workman Co. Ltd. 4,300 128,912 
Yamada Consulting Group Co. Ltd. 2,200 98,007 
Yamato Kogyo Co. Ltd. 1,900 56,877 
TOTAL JAPAN  44,013,107 
Kenya - 0.3%   
Safaricom Ltd. 5,080,100 905,413 
Korea (South) - 2.5%   
AMOREPACIFIC Group, Inc. 4,206 494,873 
BGFretail Co. Ltd. 13,367 1,064,360 
Coway Co. Ltd. 6,421 487,861 
KT&G Corp. 7,236 631,466 
Leeno Industrial, Inc. 1,445 49,248 
LG Household & Health Care Ltd. 792 604,504 
NAVER Corp. 1,151 757,582 
Samsung Electronics Co. Ltd. 2,463 4,219,652 
TOTAL KOREA (SOUTH)  8,309,546 
Luxembourg - 0.1%   
Eurofins Scientific SA 900 403,193 
Mexico - 1.7%   
CEMEX S.A.B. de CV sponsored ADR 77,800 720,428 
Consorcio ARA S.A.B. de CV 224,355 71,868 
Embotelladoras Arca S.A.B. de CV 88,300 476,359 
Fomento Economico Mexicano S.A.B. de CV:   
unit 91,900 691,272 
sponsored ADR 6,733 506,524 
Gruma S.A.B. de CV Series B 39,625 533,128 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 55,300 428,457 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 30,530 442,325 
Grupo Aeroportuario Norte S.A.B. de CV 89,300 381,035 
Grupo Mexico SA de CV Series B 216,800 650,187 
Megacable Holdings S.A.B. de CV unit 31,500 100,043 
Promotora y Operadora de Infraestructura S.A.B. de CV 52,195 455,059 
TOTAL MEXICO  5,456,685 
Multi-National - 0.1%   
HKT Trust/HKT Ltd. unit 326,000 455,395 
Netherlands - 2.0%   
Aalberts Industries NV 6,100 213,682 
ASML Holding NV (Netherlands) 19,800 2,404,193 
ING Groep NV (Certificaten Van Aandelen) 113,076 1,624,445 
PostNL NV (a) 55,000 240,696 
RELX NV 56,037 946,506 
Takeaway.com Holding BV (b) 1,800 58,866 
VastNed Retail NV 3,891 143,504 
Wolters Kluwer NV 16,174 617,292 
Yandex NV Series A (a) 17,400 402,636 
TOTAL NETHERLANDS  6,651,820 
New Zealand - 0.1%   
Auckland International Airport Ltd. 77,950 391,193 
Norway - 0.4%   
Kongsberg Gruppen ASA 5,800 95,635 
Statoil ASA 58,500 1,090,861 
TOTAL NORWAY  1,186,496 
Philippines - 0.8%   
Ayala Corp. 34,030 547,993 
Ayala Land, Inc. 766,200 548,283 
D&L Industries, Inc. 1,691,000 418,670 
Jollibee Food Corp. 22,780 94,276 
SM Investments Corp. 35,210 489,033 
SM Prime Holdings, Inc. 864,300 516,706 
TOTAL PHILIPPINES  2,614,961 
Russia - 0.7%   
Magnit OJSC 3,752 601,892 
NOVATEK OAO GDR (Reg. S) 5,100 645,660 
Sberbank of Russia 369,170 1,055,214 
TOTAL RUSSIA  2,302,766 
South Africa - 2.4%   
Aspen Pharmacare Holdings Ltd. 27,000 617,143 
Bidcorp Ltd. 29,732 512,450 
Capitec Bank Holdings Ltd. 9,500 494,924 
Clicks Group Ltd. 72,521 656,591 
Discovery Ltd. 56,567 483,055 
FirstRand Ltd. 184,000 685,477 
Mondi Ltd. 23,300 511,943 
Naspers Ltd. Class N 20,900 3,329,620 
Sanlam Ltd. 113,600 547,893 
TOTAL SOUTH AFRICA  7,839,096 
Spain - 3.0%   
Amadeus IT Holding SA Class A 44,100 2,034,916 
Banco Santander SA (Spain) 216,300 1,202,270 
CaixaBank SA 271,906 992,400 
Hispania Activos Inmobiliarios SA 31,295 385,126 
Iberdrola SA 4,313 27,162 
Iberdrola SA 194,120 1,226,089 
Inditex SA 85,416 2,815,528 
Merlin Properties Socimi SA 36,400 406,887 
Prosegur Compania de Seguridad SA (Reg.) 109,276 686,547 
TOTAL SPAIN  9,776,925 
Sweden - 3.2%   
Addlife AB (a) 3,000 49,902 
AddTech AB (B Shares) 7,000 120,840 
ASSA ABLOY AB (B Shares) 126,500 2,393,692 
Atlas Copco AB (A Shares) 40,600 1,301,023 
Fagerhult AB 34,155 1,099,179 
Intrum Justitia AB 963 32,434 
Investor AB (B Shares) 17,560 700,425 
Loomis AB (B Shares) 3,900 114,007 
Nordea Bank AB 145,467 1,757,824 
Saab AB (B Shares) 4,100 167,429 
Svenska Cellulosa AB (SCA) (B Shares) 29,800 896,730 
Svenska Handelsbanken AB (A Shares) 55,845 833,694 
Swedbank AB (A Shares) 38,600 975,690 
TOTAL SWEDEN  10,442,869 
Switzerland - 6.4%   
ABB Ltd. (Reg.) 47,070 1,121,718 
Credit Suisse Group AG 36,391 555,513 
Lafargeholcim Ltd. (Reg.) 12,950 692,289 
Nestle SA 102,292 7,494,362 
Novartis AG 37,626 2,777,835 
Roche Holding AG (participation certificate) 13,877 3,288,133 
Schindler Holding AG:   
(participation certificate) 5,411 1,028,011 
(Reg.) 1,212 227,813 
Sika AG 70 366,783 
Syngenta AG (Switzerland) 809 343,836 
Tecan Group AG 600 93,861 
UBS Group AG 109,589 1,765,479 
Zurich Insurance Group AG 5,379 1,549,010 
TOTAL SWITZERLAND  21,304,643 
Taiwan - 1.9%   
Addcn Technology Co. Ltd. 10,772 67,000 
Advantech Co. Ltd. 55,000 467,290 
Far EasTone Telecommunications Co. Ltd. 196,000 467,527 
Largan Precision Co. Ltd. 3,870 552,139 
Taiwan Mobile Co. Ltd. 156,000 522,659 
Taiwan Semiconductor Manufacturing Co. Ltd. 723,035 4,329,945 
TOTAL TAIWAN  6,406,560 
Thailand - 0.5%   
Airports of Thailand PCL (For. Reg.) 47,600 561,316 
Bangkok Dusit Medical Services PCL (For. Reg.) 592,000 374,347 
Minor International PCL (For. Reg.) 413,600 409,388 
Thai Beverage PCL 751,400 461,178 
TOTAL THAILAND  1,806,229 
Turkey - 0.1%   
Tupras Turkiye Petrol Rafinelleri A/S 10,000 217,193 
United Kingdom - 10.9%   
AA PLC 18,989 58,263 
Alliance Pharma PLC 68,814 43,284 
AstraZeneca PLC (United Kingdom) 25,364 1,346,043 
Aviva PLC 219,415 1,321,072 
Avon Rubber PLC 4,500 58,195 
BAE Systems PLC 272,821 2,003,788 
Bellway PLC 1,640 51,248 
Berendsen PLC 64,955 680,264 
BHP Billiton PLC 36,726 669,802 
BP PLC 358,745 2,142,618 
British American Tobacco PLC (United Kingdom) 44,100 2,722,202 
Britvic PLC 2,117 16,658 
Bunzl PLC 33,729 886,385 
Compass Group PLC 53,107 945,148 
Dechra Pharmaceuticals PLC 11,300 206,976 
Domino's Pizza UK & IRL PLC 24,600 112,120 
DP Poland PLC (a) 200,000 145,614 
Elementis PLC 148,508 500,499 
Great Portland Estates PLC 17,172 133,827 
Hilton Food Group PLC 5,400 45,345 
Howden Joinery Group PLC 80,700 383,139 
HSBC Holdings PLC sponsored ADR 47,407 2,019,538 
Imperial Tobacco Group PLC 20,948 968,062 
Informa PLC 272,472 2,234,859 
InterContinental Hotel Group PLC 8,800 407,391 
InterContinental Hotel Group PLC ADR 52,412 2,433,489 
ITE Group PLC 49,000 96,162 
ITV PLC 176,219 450,461 
Just Eat Holding Ltd. (a) 11,340 76,964 
Lloyds Banking Group PLC 1,955,900 1,604,233 
Micro Focus International PLC 36,100 974,126 
NMC Health PLC 22,400 459,603 
Prudential PLC 85,380 1,654,558 
Reckitt Benckiser Group PLC 32,651 2,801,640 
Rightmove PLC 9,000 455,144 
Rio Tinto PLC 36,802 1,630,439 
Royal Dutch Shell PLC Class B (United Kingdom) 35,732 1,009,230 
Shaftesbury PLC 43,437 478,952 
Spectris PLC 21,770 661,936 
Spirax-Sarco Engineering PLC 6,499 351,966 
Ted Baker PLC 2,375 84,912 
Topps Tiles PLC 70,300 73,845 
Ultra Electronics Holdings PLC 6,201 144,082 
Unite Group PLC 14,151 104,408 
Vodafone Group PLC sponsored ADR 12,826 319,367 
TOTAL UNITED KINGDOM  35,967,857 
United States of America - 9.3%   
A.O. Smith Corp. 7,800 380,250 
Alphabet, Inc.:   
Class A (a) 2,130 1,747,005 
Class C (a) 494 393,614 
Amazon.com, Inc. (a) 520 428,210 
Amphenol Corp. Class A 6,200 418,438 
Autoliv, Inc. 9,254 1,070,318 
Berkshire Hathaway, Inc. Class B (a) 8,216 1,348,574 
China Biologic Products, Inc. (a) 11,400 1,298,916 
ConocoPhillips Co. 19,200 936,192 
Constellation Brands, Inc. Class A (sub. vtg.) 2,700 404,352 
Domino's Pizza, Inc. 6,590 1,150,219 
Edgewell Personal Care Co. (a) 4,300 339,012 
Energizer Holdings, Inc. 1,010 50,975 
Facebook, Inc. Class A (a) 3,400 443,088 
Kennedy-Wilson Holdings, Inc. 1,573 32,168 
Martin Marietta Materials, Inc. 5,560 1,276,576 
MasterCard, Inc. Class A 25,830 2,746,504 
MercadoLibre, Inc. 2,500 463,475 
Mettler-Toledo International, Inc. (a) 900 383,967 
Mohawk Industries, Inc. (a) 5,995 1,293,961 
Molson Coors Brewing Co. Class B 11,600 1,119,632 
Moody's Corp. 11,200 1,161,104 
MSCI, Inc. 13,100 1,084,025 
Philip Morris International, Inc. 21,200 2,037,956 
PPG Industries, Inc. 4,600 460,046 
PriceSmart, Inc. 6,285 532,340 
ResMed, Inc. 12,160 821,286 
S&P Global, Inc. 17,000 2,043,060 
Sherwin-Williams Co. 4,600 1,397,526 
TransDigm Group, Inc. 2,100 454,440 
Visa, Inc. Class A 37,477 3,099,723 
TOTAL UNITED STATES OF AMERICA  30,816,952 
TOTAL COMMON STOCKS   
(Cost $278,854,426)  319,493,355 
Preferred Stocks - 1.3%   
Convertible Preferred Stocks - 0.2%   
India - 0.2%   
PC Jeweller Ltd. 13.00% (c) 3,557,622 471,405 
Nonconvertible Preferred Stocks - 1.1%   
Brazil - 0.9%   
Ambev SA sponsored ADR 175,600 946,484 
Itau Unibanco Holding SA 103,170 1,219,273 
Itausa-Investimentos Itau SA (PN) 232,600 685,008 
  2,850,765 
Germany - 0.1%   
Sartorius AG (non-vtg.) 4,500 315,754 
Spain - 0.1%   
Grifols SA Class B 28,900 493,441 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  3,659,960 
TOTAL PREFERRED STOCKS   
(Cost $3,709,293)  4,131,365 
Money Market Funds - 2.3%   
Fidelity Cash Central Fund, 0.62% (d)   
(Cost $7,484,254) 7,482,244 7,483,740 
TOTAL INVESTMENT PORTFOLIO - 100.3%   
(Cost $290,047,973)  331,108,460 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (836,265) 
NET ASSETS - 100%  $330,272,195 

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $58,866 or 0.0% of net assets.

 (c) 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 $471,405 or 0.2% of net assets.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
PC Jeweller Ltd. 13.00% 7/28/16 $530,934 

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 $13,702 
Fidelity Securities Lending Cash Central Fund 882 
Total $14,584 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $37,497,733 $27,287,999 $10,209,734 $-- 
Consumer Staples 41,187,366 23,161,389 18,025,977 -- 
Energy 13,992,126 6,530,551 7,461,575 -- 
Financials 62,512,799 37,610,887 24,901,912 -- 
Health Care 33,385,854 16,547,920 16,837,934 -- 
Industrials 40,894,844 31,402,894 9,491,950 -- 
Information Technology 50,312,412 35,901,267 14,411,145 -- 
Materials 27,997,910 24,589,083 3,408,827 -- 
Real Estate 5,466,360 5,466,360 -- -- 
Telecommunication Services 7,085,404 2,214,966 4,870,438 -- 
Utilities 3,291,912 1,019,367 2,272,545 -- 
Money Market Funds 7,483,740 7,483,740 -- -- 
Total Investments in Securities: $331,108,460 $219,216,423 $111,892,037 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $19,697,963 
Level 2 to Level 1 $1,339,890 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $291,696,211. Net unrealized appreciation aggregated $39,412,249, of which $51,071,632 related to appreciated investment securities and $11,659,383 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Latin America Fund

January 31, 2017







LAF-QTLY-0317
1.813035.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 72.1%   
 Shares Value 
Argentina - 1.3%   
Grupo Superveille SA sponsored ADR (a) 475,000 $6,996,750 
Bermuda - 5.7%   
Credicorp Ltd. (United States) 130,711 21,394,776 
PAX Global Technology Ltd. (b) 13,526,721 9,426,533 
TOTAL BERMUDA  30,821,309 
Brazil - 35.4%   
Alliar Medicos a Frente SA 780,403 3,452,387 
BB Seguridade Participacoes SA 1,248,512 11,058,351 
Cielo SA 2,072,187 17,420,023 
CVC Brasil Operadora e Agencia de Viagens SA 1,424,141 11,750,711 
Equatorial Energia SA 790,822 14,581,181 
Estacio Participacoes SA 2,729,012 13,770,204 
FPC Par Corretora de Seguros 1,557,686 6,970,065 
Grendene SA 1,545,786 9,080,162 
Hypermarcas SA 1,053,807 9,347,182 
Kroton Educacional SA 4,457,759 19,112,159 
Localiza Rent A Car SA 744,989 8,712,146 
MAHLE Metal Leve SA 1,023,385 6,907,873 
Multiplus SA 796,822 8,997,152 
Odontoprev SA 1,686,965 6,001,358 
Qualicorp SA 2,300,671 15,047,707 
Smiles SA 1,071,796 17,686,964 
Tegma Gestao Logistica SA (c) 2,562,627 7,652,667 
Valid Solucoes SA 659,175 5,014,257 
TOTAL BRAZIL  192,562,549 
Chile - 1.1%   
Vina San Pedro SA 574,573,084 6,112,715 
Mexico - 19.0%   
Compartamos S.A.B. de CV 9,560,676 13,960,370 
Credito Real S.A.B. de CV 5,729,359 8,148,886 
Genomma Lab Internacional SA de CV (c) 9,816,067 10,299,257 
Gruma S.A.B. de CV Series B 830,661 11,175,992 
Grupo Aeroportuario Norte S.A.B. de CV 1,950,601 8,323,038 
Grupo GICSA SA de CV (c) 12,131,656 6,696,016 
Grupo Mexico SA de CV Series B 4,676,461 14,024,786 
Promotora y Operadora de Infraestructura S.A.B. de CV 2,191,429 14,245,576 
Qualitas Controladora S.A.B. de CV 5,190,845 7,783,716 
Unifin Financiera SAPI de CV 3,708,407 8,793,762 
TOTAL MEXICO  103,451,399 
Panama - 4.6%   
Copa Holdings SA Class A 150,893 14,710,559 
Intergroup Financial Services Corp. 314,911 10,077,152 
TOTAL PANAMA  24,787,711 
Peru - 1.3%   
Cementos Pacasmayo SAA 3,812,245 7,342,447 
United Kingdom - 2.2%   
British American Tobacco PLC (United Kingdom) 195,813 12,087,132 
United States of America - 1.5%   
First Cash Financial Services, Inc. 190,834 8,148,612 
TOTAL COMMON STOCKS   
(Cost $332,111,615)  392,310,624 
Nonconvertible Preferred Stocks - 26.7%   
Brazil - 26.7%   
Alpargatas SA (PN) 2,651,372 8,742,266 
Itau Unibanco Holding SA 5,389,489 63,693,497 
Itausa-Investimentos Itau SA (PN) 13,522,233 39,823,021 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (c) 6,904,708 32,911,908 
(Cost $83,190,403)  145,170,692 
Money Market Funds - 1.2%   
Fidelity Cash Central Fund, 0.62% (d) 5,301,250 5,302,310 
Fidelity Securities Lending Cash Central Fund 0.65% (d)(e) 1,082,754 1,082,971 
TOTAL MONEY MARKET FUNDS   
(Cost $6,385,135)  6,385,281 
TOTAL INVESTMENT PORTFOLIO - 100.0%   
(Cost $421,687,153)  543,866,597 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (224,226) 
NET ASSETS - 100%  $543,642,371 

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

Legend

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

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

 (c) Non-income producing

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

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


Affiliated Central Funds

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

Fund Income earned 
Fidelity Cash Central Fund $6,357 
Fidelity Securities Lending Cash Central Fund 14,907 
Total $21,264 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $96,047,491 $96,047,491 $-- $-- 
Consumer Staples 29,375,839 17,288,707 12,087,132 -- 
Energy 32,911,908 32,911,908 -- -- 
Financials 206,848,958 206,848,958 -- -- 
Health Care 44,147,891 44,147,891 -- -- 
Industrials 58,658,243 58,658,243 -- -- 
Information Technology 26,846,556 17,420,023 9,426,533 -- 
Materials 21,367,233 21,367,233 -- -- 
Real Estate 6,696,016 6,696,016 -- -- 
Utilities 14,581,181 14,581,181 -- -- 
Money Market Funds 6,385,281 6,385,281 -- -- 
Total Investments in Securities: $543,866,597 $522,352,932 $21,513,665 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $7,802,124 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $424,168,100. Net unrealized appreciation aggregated $119,698,497, of which $148,049,570 related to appreciated investment securities and $28,351,073 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Global Equity Income Fund

January 31, 2017







GED-QTLY-0317
1.938168.104





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.7%   
 Shares Value 
Australia - 0.2%   
Asaleo Care Ltd. 125,113 $143,277 
Austria - 0.1%   
Andritz AG 1,100 59,331 
Bailiwick of Jersey - 1.0%   
Wolseley PLC 12,057 746,693 
Belgium - 1.1%   
Anheuser-Busch InBev SA NV 5,800 605,625 
KBC Groep NV 3,275 212,192 
TOTAL BELGIUM  817,817 
Canada - 4.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 7,200 329,831 
Constellation Software, Inc. 1,300 587,165 
Fairfax Financial Holdings Ltd. (sub. vtg.) 541 252,778 
Imperial Oil Ltd. 22,800 749,575 
PrairieSky Royalty Ltd. 5,100 119,539 
Suncor Energy, Inc. 38,600 1,197,230 
TOTAL CANADA  3,236,118 
Cayman Islands - 0.6%   
Goodbaby International Holdings Ltd. 252,000 109,553 
SITC International Holdings Co. Ltd. 551,000 342,223 
TOTAL CAYMAN ISLANDS  451,776 
Chile - 0.5%   
Vina San Pedro SA 37,219,054 395,963 
Denmark - 0.2%   
Pandora A/S 1,300 170,133 
France - 1.0%   
Cegedim SA (a) 6,000 168,467 
Maisons du Monde SA 7,700 217,155 
VINCI SA 4,700 329,280 
TOTAL FRANCE  714,902 
Germany - 2.7%   
adidas AG 4,256 669,167 
AURELIUS AG 8,099 510,147 
SAP AG 8,269 756,202 
TOTAL GERMANY  1,935,516 
Hong Kong - 1.1%   
Techtronic Industries Co. Ltd. 220,500 762,623 
Ireland - 3.5%   
Accenture PLC Class A 7,940 904,128 
Allergan PLC 2,100 459,669 
Greencore Group PLC 46,486 138,011 
Medtronic PLC 13,800 1,049,076 
TOTAL IRELAND  2,550,884 
Isle of Man - 1.3%   
Paysafe Group PLC (a) 124,700 599,096 
Playtech Ltd. 32,778 341,836 
TOTAL ISLE OF MAN  940,932 
Israel - 2.2%   
Bezeq The Israel Telecommunication Corp. Ltd. 279,400 487,711 
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. 4,496 182,724 
Teva Pharmaceutical Industries Ltd. sponsored ADR 26,950 900,939 
TOTAL ISRAEL  1,571,374 
Japan - 11.3%   
A/S One Corp. 11,200 515,809 
Astellas Pharma, Inc. 39,800 534,187 
Broadleaf Co. Ltd. 21,600 134,295 
Daiichikosho Co. Ltd. 21,800 865,937 
Daito Trust Construction Co. Ltd. 4,000 559,384 
Hoya Corp. 19,400 845,689 
Inaba Denki Sangyo Co. Ltd. 5,100 180,901 
Japan Meat Co. Ltd. 18,100 290,151 
Japan Tobacco, Inc. 3,200 103,162 
KDDI Corp. 26,600 714,699 
Morinaga & Co. Ltd. 5,700 246,356 
Nippon Telegraph & Telephone Corp. 13,100 578,657 
Olympus Corp. 13,200 455,354 
ORIX Corp. 17,400 263,057 
Recruit Holdings Co. Ltd. 6,900 302,192 
Shinsei Bank Ltd. 272,000 469,755 
Sony Corp. 21,400 647,944 
Tsuruha Holdings, Inc. 4,500 422,460 
USS Co. Ltd. 6,800 119,306 
TOTAL JAPAN  8,249,295 
Kenya - 0.2%   
Safaricom Ltd. 893,300 159,211 
Korea (South) - 1.3%   
Hyundai Fire & Marine Insurance Co. Ltd. 3,037 79,377 
Samsung Electronics Co. Ltd. 491 841,189 
TOTAL KOREA (SOUTH)  920,566 
Multi-National - 0.4%   
HKT Trust/HKT Ltd. unit 196,600 274,634 
Netherlands - 1.7%   
Koninklijke Philips Electronics NV 14,100 413,729 
LyondellBasell Industries NV Class A 8,700 811,449 
TOTAL NETHERLANDS  1,225,178 
South Africa - 0.9%   
Capitec Bank Holdings Ltd. 8,000 416,778 
EOH Holdings Ltd. 19,400 211,204 
TOTAL SOUTH AFRICA  627,982 
Spain - 0.9%   
Amadeus IT Holding SA Class A 14,700 678,305 
Sweden - 0.5%   
Loomis AB (B Shares) 13,000 380,023 
Switzerland - 2.2%   
Banque Cantonale Vaudoise 570 388,813 
Chubb Ltd. 3,800 499,662 
Nestle SA 10,078 738,360 
TOTAL SWITZERLAND  1,626,835 
Taiwan - 2.7%   
ECLAT Textile Co. Ltd. 45,298 471,998 
King's Town Bank 120,000 110,034 
Taiwan Semiconductor Manufacturing Co. Ltd. 236,000 1,413,302 
TOTAL TAIWAN  1,995,334 
United Kingdom - 9.4%   
BAE Systems PLC 56,200 412,772 
Beijing Yanjing Brewery ELS (UBS Warrant Programme) warrants 10/6/17 (a)(b) 62,500 64,756 
British American Tobacco PLC (United Kingdom) 11,400 703,698 
BT Group PLC 56,530 216,082 
Coca-Cola European Partners PLC 7,600 262,428 
GlaxoSmithKline PLC 37,000 715,025 
Hilton Food Group PLC 56,200 471,920 
Imperial Tobacco Group PLC 7,649 353,480 
ITV PLC 299,000 764,321 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. ELS (UBS Warrant Programme) warrants 10/23/17 (a)(b) 7,672 78,285 
Lloyds Banking Group PLC 348,000 285,430 
Mears Group PLC 16,500 105,238 
Micro Focus International PLC 50,000 1,349,205 
St. James's Place Capital PLC 30,291 408,116 
The Restaurant Group PLC 13,200 48,654 
WH Smith PLC 23,352 478,842 
Wuliangye Yibin Co. Ltd. ELS (A Shares) (UBS Warrant Programme) warrants 3/7/19 (a)(b) 27,300 146,782 
TOTAL UNITED KINGDOM  6,865,034 
United States of America - 44.3%   
American Tower Corp. 8,960 927,360 
AMETEK, Inc. 4,000 204,400 
Amgen, Inc. 4,820 755,198 
Apple, Inc. 20,750 2,518,013 
AutoZone, Inc. (a) 500 362,490 
Ball Corp. 3,900 297,414 
Bank of America Corp. 59,880 1,355,683 
Bristol-Myers Squibb Co. 4,600 226,136 
Capital One Financial Corp. 3,000 262,170 
Caterpillar, Inc. 3,000 286,980 
Cedar Fair LP (depositary unit) 4,100 256,373 
Charter Communications, Inc. Class A (a) 1,000 323,950 
Chevron Corp. 14,465 1,610,678 
Comcast Corp. Class A 20,100 1,515,942 
ConocoPhillips Co. 21,600 1,053,216 
Coty, Inc. Class A 9,324 179,021 
CVS Health Corp. 6,900 543,789 
Danaher Corp. 7,000 587,440 
Dell Technologies, Inc. (a) 2,753 173,411 
Deluxe Corp. 2,700 196,695 
Diamond Hill Investment Group, Inc. 2,900 586,380 
Dr. Pepper Snapple Group, Inc. 6,241 569,179 
E.I. du Pont de Nemours & Co. 8,300 626,650 
Exxon Mobil Corp. 11,030 925,307 
Fortive Corp. 4,200 232,302 
Gilead Sciences, Inc. 5,100 369,495 
H&R Block, Inc. 6,400 137,344 
Johnson & Johnson 11,700 1,325,025 
JPMorgan Chase & Co. 15,630 1,322,767 
L Brands, Inc. 7,200 433,512 
McDonald's Corp. 4,700 576,079 
Microsoft Corp. 21,664 1,400,578 
Molson Coors Brewing Co. Class B 6,400 617,728 
Monsanto Co. 3,200 346,592 
MSCI, Inc. 7,400 612,350 
Oracle Corp. 10,426 418,187 
PepsiCo, Inc. 8,000 830,240 
PPG Industries, Inc. 2,300 230,023 
Procter & Gamble Co. 8,159 714,728 
Qualcomm, Inc. 6,100 325,923 
Roper Technologies, Inc. 1,600 306,960 
S&P Global, Inc. 8,140 978,265 
Sabre Corp. 9,600 235,200 
Stock Yards Bancorp, Inc. 3,000 134,400 
SunTrust Banks, Inc. 14,900 846,618 
The Coca-Cola Co. 16,400 681,748 
Total System Services, Inc. 4,100 207,788 
U.S. Bancorp 18,980 999,297 
VF Corp. 5,800 298,584 
W.R. Grace & Co. 2,800 194,152 
Wells Fargo & Co. 22,157 1,248,104 
TOTAL UNITED STATES OF AMERICA  32,367,864 
TOTAL COMMON STOCKS   
(Cost $61,411,622)  69,867,600 
Nonconvertible Preferred Stocks - 0.2%   
Spain - 0.2%   
Grifols SA Class B   
(Cost $154,494) 10,100 172,448 
 Principal Amount(c) Value 
Nonconvertible Bonds - 0.0%   
Canada - 0.0%   
Constellation Software, Inc. 7.6% 3/31/40
(Cost $2,060)(d) 		CAD2,400 2,130 
 Shares Value 
Money Market Funds - 2.0%   
Fidelity Cash Central Fund, 0.62% (e)   
(Cost $1,468,644) 1,468,503 1,468,797 
TOTAL INVESTMENT PORTFOLIO - 97.9%   
(Cost $63,036,820)  71,510,975 
NET OTHER ASSETS (LIABILITIES) - 2.1%  1,518,700 
NET ASSETS - 100%  $73,029,675 

Currency Abbreviations

CAD – Canadian dollar

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $289,823 or 0.4% of net assets.

 (c) Amount is stated in United States dollars unless otherwise noted.

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

 (e) 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.


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 $2,156 
Fidelity Securities Lending Cash Central Fund 348 
Total $2,504 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $9,229,907 $7,709,787 $1,520,120 $-- 
Consumer Staples 9,523,879 7,476,196 2,047,683 -- 
Energy 5,655,545 5,655,545 -- -- 
Financials 12,531,996 11,956,743 575,253 -- 
Health Care 9,079,957 7,658,297 1,421,660 -- 
Industrials 4,499,719 2,584,302 1,915,417 -- 
Information Technology 13,095,027 10,925,523 2,169,504 -- 
Materials 2,506,280 2,506,280 -- -- 
Real Estate 1,486,744 1,486,744 -- -- 
Telecommunication Services 2,430,994 863,004 1,567,990 -- 
Corporate Bonds 2,130 -- 2,130 -- 
Money Market Funds 1,468,797 1,468,797 -- -- 
Total Investments in Securities: $71,510,975 $60,291,218 $11,219,757 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $2,823,624 
Level 2 to Level 1 $1,097,374 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $63,178,139. Net unrealized appreciation aggregated $8,332,836, of which $10,788,256 related to appreciated investment securities and $2,455,420 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Small Cap Fund

January 31, 2017







ISC-QTLY-0317
1.813082.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.5%   
 Shares Value 
Australia - 4.8%   
Asaleo Care Ltd. 2,139,408 $2,450,016 
Aub Group Ltd. 616,464 4,895,000 
Austal Ltd. 2,621,086 3,180,531 
Challenger Ltd. 560,865 4,687,467 
GUD Holdings Ltd. 1,214,096 8,940,681 
Imdex Ltd. (a) 14,542,724 7,499,857 
Life Healthcare Group Ltd. 2,075,053 3,729,717 
Nanosonics Ltd. (a) 1,532,896 3,348,139 
Pact Group Holdings Ltd. 1,149,285 5,691,664 
Programmed Maintenance Services Ltd. 3,854,679 5,554,438 
Servcorp Ltd. 341,936 1,633,743 
SomnoMed Ltd. (a)(b) 726,815 1,973,355 
TOTAL AUSTRALIA  53,584,608 
Austria - 3.1%   
Andritz AG 132,032 7,121,439 
Buwog-Gemeinnuetzige Wohnung 289,304 6,895,665 
IMMOFINANZ Immobilien Anlagen AG (b) 3,807,043 6,978,276 
Palfinger AG 13,511 453,670 
RHI AG 265,040 6,521,893 
Wienerberger AG 314,200 6,057,735 
TOTAL AUSTRIA  34,028,678 
Bailiwick of Jersey - 0.7%   
IWG PLC 2,602,900 8,176,297 
Belgium - 0.5%   
Barco NV 67,583 5,867,839 
Bermuda - 1.9%   
BW Offshore Ltd. (a) 1,659,938 4,830,052 
Hiscox Ltd. 413,781 5,340,704 
Petra Diamonds Ltd. (a) 3,220,074 6,124,890 
Travelport Worldwide Ltd. 322,200 4,626,792 
TOTAL BERMUDA  20,922,438 
Brazil - 0.4%   
Banco ABC Brasil SA rights 2/2/17 (a) 58,121 111,682 
MAHLE Metal Leve SA 568,100 3,834,689 
TOTAL BRAZIL  3,946,371 
British Virgin Islands - 0.3%   
Gem Diamonds Ltd. 2,447,962 3,772,432 
Canada - 5.5%   
AutoCanada, Inc. (b) 327,584 6,384,269 
Dorel Industries, Inc. Class B (sub. vtg.) 143,903 3,981,178 
Genesis Land Development Corp. 1,707,422 3,687,113 
Lassonde Industries, Inc. Class A (sub. vtg.) 41,169 6,443,087 
McCoy Global, Inc. (a) 1,341,870 1,959,311 
North West Co., Inc. 264,000 5,940,380 
Open Text Corp. 272,096 9,313,472 
ShawCor Ltd. Class A 164,385 4,592,042 
TransForce, Inc. 239,800 6,490,495 
Western Forest Products, Inc. 4,086,600 5,841,365 
Whitecap Resources, Inc. 886,253 7,055,970 
TOTAL CANADA  61,688,682 
Cayman Islands - 3.9%   
AMVIG Holdings Ltd. 17,038,000 5,840,702 
Best Pacific International Holdings Ltd. 4,714,000 3,842,918 
China High Precision Automation Group Ltd. (a) 712,000 1 
China Metal Recycling (Holdings) Ltd. (a) 436,800 1 
Greatview Aseptic Pack Co. Ltd. 6,321,000 2,982,035 
Haitian International Holdings Ltd. 2,703,000 5,498,539 
Lifestyle China Group Ltd. (a) 4,950,500 1,149,623 
Lifestyle International Holdings Ltd. 3,386,000 4,341,632 
Pico Far East Holdings Ltd. 18,482,000 6,179,917 
SITC International Holdings Co. Ltd. 14,044,000 8,722,645 
Value Partners Group Ltd. (b) 6,225,000 5,344,166 
TOTAL CAYMAN ISLANDS  43,902,179 
Chile - 0.9%   
Quinenco SA 2,239,263 6,145,609 
Vina San Pedro SA 394,698,308 4,199,080 
TOTAL CHILE  10,344,689 
China - 0.5%   
Qingdao Port International Co. Ltd. 10,060,000 5,738,055 
Denmark - 0.8%   
Jyske Bank A/S (Reg.) 171,903 8,834,159 
Finland - 2.9%   
Amer Group PLC (A Shares) 254,945 6,761,987 
Asiakastieto Group Oyj 196,923 4,102,763 
Cramo Oyj (B Shares) 186,710 4,645,807 
Olvi PLC (A Shares) 159,338 4,867,752 
Oriola-KD Oyj 1,264,321 5,991,624 
Tikkurila Oyj 285,646 5,824,823 
TOTAL FINLAND  32,194,756 
France - 3.3%   
ALTEN 57,719 4,299,229 
Maisons du Monde SA 172,700 4,870,475 
Rexel SA 316,400 5,500,724 
The Lisi Group 94,909 3,433,242 
The Vicat Group 118,356 7,188,076 
Thermador Groupe SA 42,659 3,816,656 
Wendel SA 60,835 7,191,016 
TOTAL FRANCE  36,299,418 
Germany - 2.3%   
AURELIUS AG 85,335 5,375,151 
Axel Springer Verlag AG 149,100 7,841,652 
CompuGroup Medical AG 133,049 5,228,001 
mutares AG 177,872 2,579,692 
SHW Group 129,839 4,287,531 
TOTAL GERMANY  25,312,027 
Greece - 0.4%   
Metka Industrial-Construction 700,493 4,884,937 
Hong Kong - 1.9%   
Dah Sing Banking Group Ltd. 3,766,400 7,344,907 
Far East Horizon Ltd. 5,537,000 5,047,687 
Magnificent Hotel Investment Ltd. 142,036,000 3,253,000 
Techtronic Industries Co. Ltd. 1,737,500 6,009,334 
TOTAL HONG KONG  21,654,928 
India - 0.8%   
Edelweiss Financial Services Ltd. 3,336,721 5,443,825 
Torrent Pharmaceuticals Ltd. 185,251 3,566,867 
TOTAL INDIA  9,010,692 
Indonesia - 0.6%   
PT ACE Hardware Indonesia Tbk 55,825,100 3,114,750 
PT Media Nusantara Citra Tbk 30,459,100 3,866,555 
TOTAL INDONESIA  6,981,305 
Ireland - 2.0%   
C&C Group PLC 881,012 3,759,510 
Mincon Group PLC 5,972,545 4,964,469 
Origin Enterprises PLC 833,300 5,713,925 
United Drug PLC (United Kingdom) 989,149 7,976,280 
TOTAL IRELAND  22,414,184 
Isle of Man - 0.8%   
Paysafe Group PLC (a) 1,742,000 8,369,094 
Israel - 0.8%   
Frutarom Industries Ltd. 167,089 8,816,438 
Italy - 0.7%   
Banco di Desio e della Brianza SpA 1,347,196 3,251,811 
Recordati SpA 169,661 4,818,652 
TOTAL ITALY  8,070,463 
Japan - 21.0%   
A/S One Corp. 142,500 6,562,749 
Aeon Delight Co. Ltd. 220,400 6,334,231 
Arc Land Sakamoto Co. Ltd. 544,800 6,673,088 
Broadleaf Co. Ltd. 778,900 4,842,687 
Central Automotive Products Ltd. 337,000 3,450,288 
Daiwa Industries Ltd. 495,600 4,301,550 
Dexerials Corp. 726,600 7,992,536 
Fuji Corp. 149,100 2,674,055 
Funai Soken Holdings, Inc. 203,520 3,156,173 
GMO Internet, Inc. 470,800 6,834,126 
Iida Group Holdings Co. Ltd. 317,251 5,942,661 
Japan Meat Co. Ltd. 394,300 6,320,813 
JSR Corp. 537,000 9,226,641 
Kaken Pharmaceutical Co. Ltd. 161,900 8,201,824 
Kotobuki Spirits Co. Ltd. (b) 132,100 3,195,156 
Leopalace21 Corp. 1,185,424 6,803,248 
Meitec Corp. 141,100 5,304,840 
Minebea Mitsumi, Inc. 534,000 5,320,609 
Miraca Holdings, Inc. 153,000 6,992,118 
Mitani Shoji Co. Ltd. 247,700 7,173,669 
Morinaga & Co. Ltd. 152,800 6,604,056 
Nihon Parkerizing Co. Ltd. 676,700 8,288,691 
Nitori Holdings Co. Ltd. 61,200 6,840,351 
Otsuka Corp. 105,700 5,438,996 
PALTAC Corp. 130,900 3,386,404 
Paramount Bed Holdings Co. Ltd. 204,100 8,206,660 
Ricoh Leasing Co. Ltd. 247,100 7,506,448 
S Foods, Inc. (b) 370,300 10,051,984 
San-Ai Oil Co. Ltd. 617,400 4,746,286 
Shinsei Bank Ltd. 4,156,000 7,177,575 
Ship Healthcare Holdings, Inc. 223,200 5,920,503 
TKC Corp. 250,400 7,562,342 
Toshiba Plant Systems & Services Corp. 595,900 8,977,291 
Tsuruha Holdings, Inc. 79,500 7,463,466 
VT Holdings Co. Ltd. 1,312,400 6,381,256 
Welcia Holdings Co. Ltd. 93,700 5,153,459 
Yamada Consulting Group Co. Ltd. 168,200 7,493,101 
TOTAL JAPAN  234,501,931 
Korea (South) - 1.1%   
BGFretail Co. Ltd. 38,025 3,027,776 
Fila Korea Ltd. 54,731 3,269,693 
Hy-Lok Corp. 125,792 2,157,274 
NS Shopping Co. Ltd. (a) 29,286 3,827,205 
TOTAL KOREA (SOUTH)  12,281,948 
Luxembourg - 0.4%   
SAF-Holland SA 318,400 4,827,446 
Netherlands - 2.8%   
Amsterdam Commodities NV 252,255 5,598,679 
Arcadis NV 212,989 2,890,115 
Basic-Fit NV 309,700 5,387,585 
BinckBank NV 1,026,016 5,874,627 
IMCD Group BV 142,000 6,372,224 
Philips Lighting NV 181,300 4,663,849 
TOTAL NETHERLANDS  30,787,079 
New Zealand - 0.8%   
EBOS Group Ltd. 707,802 8,776,412 
Norway - 1.8%   
ABG Sundal Collier ASA 8,137,510 5,150,042 
Ekornes A/S 388,597 5,370,974 
Kongsberg Gruppen ASA 318,133 5,245,614 
Spectrum ASA (a) 885,572 4,241,014 
TOTAL NORWAY  20,007,644 
Philippines - 0.2%   
Century Pacific Food, Inc. 8,344,500 2,751,294 
Romania - 0.4%   
Banca Transilvania SA 7,452,152 4,223,247 
Singapore - 1.5%   
Boustead Projects Pte Ltd. (a) 994,106 518,443 
Boustead Singapore Ltd. 4,382,305 2,518,655 
Hour Glass Ltd. 8,087,500 3,557,846 
Mapletree Industrial (REIT) 4,048,594 4,725,538 
Wing Tai Holdings Ltd. 4,268,200 5,254,427 
TOTAL SINGAPORE  16,574,909 
South Africa - 0.6%   
Clicks Group Ltd. 713,016 6,455,507 
Spain - 0.6%   
Hispania Activos Inmobiliarios SA 550,985 6,780,587 
Sweden - 1.4%   
Addlife AB (a) 98,854 1,644,346 
AddTech AB (B Shares) 274,219 4,733,805 
Coor Service Management Holding AB 515,800 3,243,246 
Granges AB 533,121 5,911,986 
TOTAL SWEDEN  15,533,383 
Switzerland - 2.4%   
Allied World Assurance Co. Holdings AG 172,604 9,170,451 
Daetwyler Holdings AG 35,821 5,447,992 
Vontobel Holdings AG 145,334 8,129,187 
VZ Holding AG 14,911 4,482,868 
TOTAL SWITZERLAND  27,230,498 
Taiwan - 2.4%   
King's Town Bank 4,627,000 4,242,709 
Makalot Industrial Co. Ltd. 1,275,540 4,743,837 
Test Research, Inc. 1,540,000 1,866,338 
Tripod Technology Corp. 2,747,000 6,719,870 
Yageo Corp. 2,196,000 5,350,860 
Yung Chi Paint & Varnish Manufacturing Co. Ltd. 1,393,000 3,613,078 
TOTAL TAIWAN  26,536,692 
Thailand - 1.0%   
Delta Electronics PCL (For. Reg.) 2,654,900 6,484,588 
TISCO Financial Group PCL 2,982,200 5,181,634 
TOTAL THAILAND  11,666,222 
Turkey - 0.3%   
Aygaz A/S 959,000 3,240,595 
United Kingdom - 14.2%   
Aberdeen Asset Management PLC 1,249,449 4,135,002 
AEW UK REIT PLC (b) 2,910,668 3,441,923 
Alliance Pharma PLC 7,754,319 4,877,467 
Amec Foster Wheeler PLC 718,349 3,993,375 
Ashmore Group PLC 1,240,407 4,837,339 
Bond International Software PLC 899,666 9 
Cineworld Group PLC 590,976 4,561,052 
Close Brothers Group PLC 309,480 5,645,225 
Countrywide PLC 2,522,107 5,560,351 
Diploma PLC 295,551 3,773,802 
Elementis PLC 1,348,200 4,543,679 
Empiric Student Property PLC 2,553,772 3,469,657 
Essentra PLC 1,035,700 5,334,116 
Exova Group Ltd. PLC 1,134,869 2,773,240 
Informa PLC 903,828 7,413,342 
ITE Group PLC 2,685,964 5,271,151 
James Fisher and Sons PLC 164,400 3,143,591 
Jardine Lloyd Thompson Group PLC 372,573 4,827,577 
John Wood Group PLC 612,400 6,455,945 
LivaNova PLC (a) 175,200 8,427,996 
Luxfer Holdings PLC sponsored ADR 716,209 7,821,002 
McColl's Retail Group PLC 3,083,652 6,963,225 
Mears Group PLC 1,378,410 8,791,582 
Melrose Industries PLC 2,514,228 6,175,560 
Micro Focus International PLC 459,944 12,411,171 
PayPoint PLC 305,111 3,690,522 
Sinclair Pharma PLC (a)(b) 9,594,565 3,892,563 
Spectris PLC 195,480 5,943,738 
The Restaurant Group PLC 758,287 2,795,000 
Topps Tiles PLC 5,055,100 5,310,029 
Ultra Electronics Holdings PLC 114,125 2,651,724 
TOTAL UNITED KINGDOM  158,931,955 
United States of America - 0.8%   
Dillard's, Inc. Class A 123,994 6,998,221 
Hornbeck Offshore Services, Inc. (a)(b) 236,070 1,711,508 
Wecast Network, Inc. warrants 8/30/17 (a)(c) 27,500 2 
TOTAL UNITED STATES OF AMERICA  8,709,731 
TOTAL COMMON STOCKS   
(Cost $974,189,605)  1,044,631,749 
Preferred Stocks - 1.4%   
Convertible Preferred Stocks - 0.3%   
India - 0.3%   
PC Jeweller Ltd. 13.00% (c) 20,810,176 2,757,466 
Nonconvertible Preferred Stocks - 1.1%   
Brazil - 1.1%   
Alpargatas SA (PN) 1,762,300 5,810,764 
Banco ABC Brasil SA 1,331,405 6,992,718 
  12,803,482 
TOTAL PREFERRED STOCKS   
(Cost $13,502,677)  15,560,948 
Money Market Funds - 6.1%   
Fidelity Cash Central Fund, 0.62% (d) 60,858,837 60,871,009 
Fidelity Securities Lending Cash Central Fund 0.65% (d)(e) 6,983,020 6,984,416 
TOTAL MONEY MARKET FUNDS   
(Cost $67,846,339)  67,855,425 
TOTAL INVESTMENT PORTFOLIO - 101.0%   
(Cost $1,055,538,621)  1,128,048,122 
NET OTHER ASSETS (LIABILITIES) - (1.0)%  (11,278,444) 
NET ASSETS - 100%  $1,116,769,678 

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

Legend

 (a) Non-income producing

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

 (c) 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 $2,757,468 or 0.3% of net assets.

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

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
PC Jeweller Ltd. 13.00% 7/28/16 $3,105,681 
Wecast Network, 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 $69,151 
Fidelity Securities Lending Cash Central Fund 23,779 
Total $92,930 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $185,909,907 $158,376,015 $27,533,892 $-- 
Consumer Staples 96,959,165 96,959,165 -- -- 
Energy 45,247,749 45,247,749 -- -- 
Financials 153,023,916 131,040,472 21,983,444 -- 
Health Care 100,135,273 100,135,273 -- -- 
Industrials 202,777,925 182,818,686 19,959,239 -- 
Information Technology 108,587,537 108,587,527 -- 10 
Materials 109,080,102 100,257,364 8,822,737 1 
Real Estate 55,230,528 55,230,528 -- -- 
Utilities 3,240,595 3,240,595 -- -- 
Money Market Funds 67,855,425 67,855,425 -- -- 
Total Investments in Securities: $1,128,048,122 $1,049,748,799 $78,299,312 $11 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $64,685,063 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $1,063,784,750. Net unrealized appreciation aggregated $64,263,372, of which $165,448,437 related to appreciated investment securities and $101,185,065 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Overseas Fund

January 31, 2017







OVE-QTLY-0317
1.813070.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.3%   
 Shares Value 
Australia - 1.6%   
Amcor Ltd. 4,051,342 $43,937,290 
Aub Group Ltd. 2,948,275 23,410,624 
Life Healthcare Group Ltd. 1,672,012 3,005,288 
Pact Group Holdings Ltd. 2,837,291 14,051,264 
TOTAL AUSTRALIA  84,404,466 
Austria - 0.4%   
Andritz AG 378,900 20,436,812 
Bailiwick of Guernsey - 0.2%   
Burford Capital Ltd. 1,664,300 13,608,981 
Bailiwick of Jersey - 2.4%   
IWG PLC 6,108,781 19,189,062 
Sanne Group PLC 2,711,237 21,214,779 
Wolseley PLC 605,653 37,508,264 
WPP PLC 2,228,133 51,857,826 
TOTAL BAILIWICK OF JERSEY  129,769,931 
Belgium - 2.3%   
Anheuser-Busch InBev SA NV 562,012 58,684,202 
KBC Groep NV 1,002,113 64,928,495 
TOTAL BELGIUM  123,612,697 
Bermuda - 1.0%   
IHS Markit Ltd. (a) 1,321,800 52,145,010 
Canada - 0.5%   
Constellation Software, Inc. 64,400 29,087,271 
Cayman Islands - 0.0%   
Lifestyle China Group Ltd. (a) 1,622,000 376,667 
Denmark - 1.2%   
NNIT A/S (b) 679,549 17,905,065 
Novo Nordisk A/S Series B 1,352,200 48,868,167 
TOTAL DENMARK  66,773,232 
France - 8.8%   
ALTEN 396,500 29,533,501 
Amundi SA 693,600 38,036,053 
AXA SA 1,512,100 37,163,278 
Capgemini SA 455,000 37,019,671 
Christian Dior SA 180,797 38,790,110 
Compagnie de St. Gobain 741,400 36,429,211 
Maisons du Monde SA 994,900 28,058,108 
Publicis Groupe SA 636,400 43,665,326 
Sanofi SA 945,019 75,957,321 
Sodexo SA (b) 273,700 30,240,244 
Total SA 1,618,300 81,878,197 
TOTAL FRANCE  476,771,020 
Germany - 8.2%   
adidas AG 236,400 37,168,977 
Axel Springer Verlag AG 683,000 35,921,183 
Bayer AG 724,497 80,476,501 
CompuGroup Medical AG 466,300 18,322,699 
Deutsche Post AG 1,823,533 60,935,038 
Fresenius Medical Care AG & Co. KGaA 382,000 31,180,660 
Fresenius SE & Co. KGaA 777,800 61,234,588 
mutares AG 422,100 6,121,751 
ProSiebenSat.1 Media AG 770,200 32,765,347 
SAP AG 708,997 64,837,932 
Wirecard AG (b) 389,600 18,845,885 
TOTAL GERMANY  447,810,561 
Hong Kong - 1.4%   
AIA Group Ltd. 9,619,800 59,559,577 
Techtronic Industries Co. Ltd. 5,442,500 18,823,483 
TOTAL HONG KONG  78,383,060 
India - 0.3%   
Axis Bank Ltd. 2,283,929 15,764,066 
Indonesia - 0.5%   
PT Bank Rakyat Indonesia Tbk 32,145,000 28,226,933 
Ireland - 2.5%   
DCC PLC (United Kingdom) 307,600 24,746,143 
Kerry Group PLC Class A 458,764 32,239,847 
Kingspan Group PLC (Ireland) 806,900 23,483,469 
Medtronic PLC 478,500 36,375,570 
United Drug PLC (United Kingdom) 2,710,396 21,856,037 
TOTAL IRELAND  138,701,066 
Isle of Man - 0.2%   
Playtech Ltd. 954,274 9,951,952 
Israel - 0.6%   
Frutarom Industries Ltd. 614,172 32,406,736 
Italy - 2.1%   
Banca Generali SpA 1,178,600 30,013,526 
Intesa Sanpaolo SpA 12,169,300 28,583,993 
OVS 2,787,700 15,543,149 
Recordati SpA 763,800 21,693,177 
Reply SpA 141,998 18,241,134 
TOTAL ITALY  114,074,979 
Japan - 20.1%   
Ai Holdings Corp. 1,372,200 26,396,408 
Arc Land Sakamoto Co. Ltd. 1,049,000 12,848,880 
Astellas Pharma, Inc. 3,555,200 47,717,088 
Bridgestone Corp. 961,800 35,291,271 
Broadleaf Co. Ltd. 1,028,600 6,395,157 
Daiichikosho Co. Ltd. 594,700 23,622,615 
Daito Trust Construction Co. Ltd. 219,500 30,696,174 
Dentsu, Inc. 725,000 33,517,846 
GMO Internet, Inc. 1,509,000 21,904,623 
Hoya Corp. 1,224,700 53,387,418 
Iriso Electronics Co. Ltd. (b) 184,000 10,299,176 
Japan Tobacco, Inc. 1,073,800 34,617,235 
Kaken Pharmaceutical Co. Ltd. 356,400 18,055,159 
KDDI Corp. 1,687,600 45,343,082 
Keyence Corp. 116,980 45,451,356 
KOMEDA Holdings Co. Ltd. 1,033,900 17,086,683 
Leopalace21 Corp. 1,802,900 10,346,995 
Miraca Holdings, Inc. 492,300 22,498,167 
Miroku Jyoho Service Co., Ltd. 610,600 9,128,446 
Misumi Group, Inc. 1,346,600 25,164,520 
Morinaga & Co. Ltd. 396,000 17,115,225 
Nabtesco Corp. 1,226,600 32,014,792 
Nakanishi, Inc. 763,500 29,516,230 
Nippon Paint Holdings Co. Ltd. 888,400 25,965,105 
Nitori Holdings Co. Ltd. 322,200 36,012,435 
NOF Corp. 1,463,000 15,341,352 
OBIC Co. Ltd. 431,900 20,732,424 
Olympus Corp. 1,679,000 57,919,626 
ORIX Corp. 3,355,800 50,733,776 
Otsuka Corp. 356,700 18,354,681 
Outsourcing, Inc. (b) 420,600 14,136,720 
Recruit Holdings Co. Ltd. 869,400 38,076,193 
Shinsei Bank Ltd. 19,582,000 33,818,882 
Ship Healthcare Holdings, Inc. 893,400 23,697,928 
SMC Corp. 117,900 32,276,052 
Software Service, Inc. 108,400 5,059,499 
Sundrug Co. Ltd. 318,100 21,918,501 
The Suruga Bank Ltd. 829,300 18,949,553 
Tsuruha Holdings, Inc. 336,600 31,600,035 
VT Holdings Co. Ltd. 3,332,400 16,203,061 
Welcia Holdings Co. Ltd. 452,700 24,898,300 
TOTAL JAPAN  1,094,108,669 
Luxembourg - 0.5%   
Eurofins Scientific SA 55,959 25,069,212 
Netherlands - 3.2%   
IMCD Group BV 1,012,578 45,439,251 
ING Groep NV (Certificaten Van Aandelen) 4,332,000 62,233,312 
Intertrust NV 959,400 17,870,526 
Koninklijke Philips Electronics NV 1,643,200 48,215,617 
TOTAL NETHERLANDS  173,758,706 
New Zealand - 0.9%   
EBOS Group Ltd. 2,276,701 28,230,022 
Trade Maine Group Ltd. 6,068,914 22,530,977 
TOTAL NEW ZEALAND  50,760,999 
Norway - 0.6%   
Statoil ASA 1,685,800 31,435,441 
Panama - 0.4%   
Copa Holdings SA Class A 219,100 21,360,059 
Portugal - 0.5%   
NOS SGPS SA 5,088,300 28,612,099 
Spain - 1.7%   
Amadeus IT Holding SA Class A 1,159,600 53,507,687 
Grifols SA ADR 2,271,700 38,618,900 
TOTAL SPAIN  92,126,587 
Sweden - 4.5%   
Addlife AB (a) 838,800 13,952,670 
Alfa Laval AB 1,569,900 29,290,585 
HEXPOL AB (B Shares) 3,192,100 30,909,772 
Indutrade AB 845,900 17,146,034 
Nordea Bank AB 5,091,800 61,529,337 
Svenska Cellulosa AB (SCA) (B Shares) 1,690,300 50,863,838 
Swedbank AB (A Shares) 1,582,600 40,003,299 
TOTAL SWEDEN  243,695,535 
Switzerland - 5.7%   
Credit Suisse Group AG 2,960,792 45,196,869 
Julius Baer Group Ltd. 851,990 40,052,713 
Nestle SA 1,681,231 123,174,614 
Sika AG 7,780 40,765,297 
UBS Group AG 3,899,056 62,925,496 
TOTAL SWITZERLAND  312,114,989 
Taiwan - 0.5%   
Taiwan Semiconductor Manufacturing Co. Ltd. 4,310,000 25,810,732 
United Kingdom - 20.7%   
Aon PLC 226,200 25,492,740 
Ascential PLC 4,752,087 17,103,417 
Booker Group PLC 11,835,200 30,343,133 
British American Tobacco PLC (United Kingdom) 1,191,300 73,536,490 
BT Group PLC 9,179,300 35,087,259 
Cineworld Group PLC 4,230,000 32,646,421 
Close Brothers Group PLC 1,445,021 26,358,628 
Coca-Cola European Partners PLC 665,600 22,983,168 
Compass Group PLC 1,932,000 34,383,909 
Cranswick PLC 483,800 14,095,648 
Dechra Pharmaceuticals PLC 474,295 8,687,415 
Diageo PLC 1,880,800 52,244,614 
Diploma PLC 2,151,303 27,469,343 
Equiniti Group PLC 5,530,785 13,045,739 
Essentra PLC 3,528,543 18,172,886 
Exova Group Ltd. PLC 8,490,635 20,748,268 
Halma PLC 1,704,800 19,837,905 
Hikma Pharmaceuticals PLC 940,095 21,571,345 
Hilton Food Group PLC 1,138,579 9,560,819 
Howden Joinery Group PLC 4,019,500 19,083,348 
IMI PLC 1,811,299 26,568,641 
Intertek Group PLC 686,600 29,298,156 
James Fisher and Sons PLC 956,986 18,299,103 
Jardine Lloyd Thompson Group PLC 1,681,799 21,791,742 
John Wood Group PLC 2,228,196 23,489,731 
London Stock Exchange Group PLC 747,345 29,812,474 
Melrose Industries PLC 12,550,005 30,825,887 
Micro Focus International PLC 1,261,900 34,051,236 
Next PLC 236,500 11,394,901 
Prudential PLC 2,801,633 54,292,172 
Reckitt Benckiser Group PLC 548,300 47,047,225 
Rio Tinto PLC 1,347,700 59,707,149 
Rolls-Royce Holdings PLC 2,749,166 23,155,209 
Rotork PLC 5,104,847 16,401,526 
Schroders PLC 835,100 30,823,307 
Shawbrook Group PLC (a) 3,417,086 10,746,735 
Sinclair Pharma PLC (a)(b) 10,370,587 4,207,399 
Spectris PLC 934,900 28,426,439 
St. James's Place Capital PLC 2,706,605 36,466,576 
Standard Life PLC 7,223,449 31,414,101 
Victrex PLC 776,800 18,567,074 
Volution Group PLC 9,121,867 19,967,037 
TOTAL UNITED KINGDOM  1,129,206,315 
United States of America - 3.8%   
Alphabet, Inc. Class C (a) 56,893 45,331,773 
Cognizant Technology Solutions Corp. Class A (a) 289,800 15,240,582 
Fidelity National Information Services, Inc. 489,600 38,884,032 
Moody's Corp. 232,400 24,092,908 
PPG Industries, Inc. 348,000 34,803,480 
S&P Global, Inc. 407,100 48,925,278 
TOTAL UNITED STATES OF AMERICA  207,278,053 
TOTAL COMMON STOCKS   
(Cost $4,846,652,293)  5,297,642,836 
Nonconvertible Preferred Stocks - 1.1%   
Germany - 1.1%   
Henkel AG & Co. KGaA   
(Cost $44,826,786) 468,900 57,046,210 
Money Market Funds - 2.8%   
Fidelity Cash Central Fund, 0.62% (c) 101,861,103 101,881,475 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 51,632,477 51,642,804 
TOTAL MONEY MARKET FUNDS   
(Cost $153,527,137)  153,524,279 
TOTAL INVESTMENT PORTFOLIO - 101.2%   
(Cost $5,045,006,216)  5,508,213,325 
NET OTHER ASSETS (LIABILITIES) - (1.2)%  (62,903,341) 
NET ASSETS - 100%  $5,445,309,984 

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

Legend

 (a) Non-income producing

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

 (c) 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.

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


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 $101,800 
Fidelity Securities Lending Cash Central Fund 313,838 
Total $415,638 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $654,464,935 $516,257,703 $138,207,232 $-- 
Consumer Staples 701,969,104 296,418,121 405,550,983 -- 
Energy 155,102,472 41,788,834 113,313,638 -- 
Financials 1,122,291,954 795,210,040 327,081,914 -- 
Health Care 815,063,151 530,863,414 284,199,737 -- 
Industrials 809,380,773 664,072,472 145,308,301 -- 
Information Technology 640,315,742 549,667,078 90,648,664 -- 
Materials 334,627,405 274,920,256 59,707,149 -- 
Real Estate 41,043,169 41,043,169 -- -- 
Telecommunication Services 80,430,341 35,087,259 45,343,082 -- 
Money Market Funds 153,524,279 153,524,279 -- -- 
Total Investments in Securities: $5,508,213,325 $3,898,852,625 $1,609,360,700 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $234,844,052 
Level 2 to Level 1 $80,972,447 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $5,046,551,774. Net unrealized appreciation aggregated $461,661,551 of which $731,068,070 related to appreciated investment securities and $269,406,519 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® International Discovery Fund

January 31, 2017







IGI-QTLY-0317
1.813016.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%   
 Shares Value (000s) 
Australia - 2.4%   
Altium Ltd. 1,569,213 $9,604 
Australia & New Zealand Banking Group Ltd. 2,658,487 59,054 
Bapcor Ltd. 8,540,156 35,493 
Magellan Financial Group Ltd. 1,204,177 21,461 
Ramsay Health Care Ltd. 1,050,947 53,242 
Spark Infrastructure Group unit 21,505,525 38,165 
TOTAL AUSTRALIA  217,019 
Austria - 0.9%   
Erste Group Bank AG 1,271,400 38,621 
Wienerberger AG 2,092,000 40,333 
TOTAL AUSTRIA  78,954 
Bailiwick of Jersey - 1.9%   
Glencore Xstrata PLC (a) 17,551,041 72,078 
Integrated Diagnostics Holdings PLC 199,300 511 
IWG PLC 6,386,188 20,060 
Randgold Resources Ltd. sponsored ADR (b) 189,614 16,106 
Shire PLC 552,000 30,733 
Wolseley PLC 499,349 30,925 
TOTAL BAILIWICK OF JERSEY  170,413 
Belgium - 1.5%   
Anheuser-Busch InBev SA NV 434,627 45,383 
KBC Groep NV 1,380,352 89,435 
TOTAL BELGIUM  134,818 
Canada - 2.1%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 725,100 33,217 
Cenovus Energy, Inc. 2,637,000 35,991 
Constellation Software, Inc. 97,100 43,857 
Franco-Nevada Corp. 227,700 14,810 
PrairieSky Royalty Ltd. (b) 1,810,573 42,438 
Suncor Energy, Inc. 676,200 20,973 
TOTAL CANADA  191,286 
Cayman Islands - 1.9%   
Alibaba Group Holding Ltd. sponsored ADR (a) 417,200 42,267 
Ctrip.com International Ltd. ADR (a) 720,000 31,111 
JD.com, Inc. sponsored ADR (a) 1,261,000 35,812 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 1,277,100 60,726 
TOTAL CAYMAN ISLANDS  169,916 
China - 0.7%   
Kweichow Moutai Co. Ltd. (A Shares) 623,582 31,210 
Wuliangye Yibin Co. Ltd. Class A 5,202,900 27,974 
TOTAL CHINA  59,184 
Cyprus - 0.0%   
SPDI Secure Property Development & Investment PLC (a) 517,230 94 
Denmark - 1.0%   
DONG Energy A/S 102,703 3,887 
Nets A/S (c) 1,621,800 28,606 
Novo Nordisk A/S Series B 1,396,745 50,478 
Novozymes A/S Series B 184,000 7,167 
TOTAL DENMARK  90,138 
Finland - 0.5%   
Sampo Oyj (A Shares) 955,300 44,239 
France - 9.9%   
ALTEN 457,959 34,111 
Altran Technologies SA 2,923,600 43,253 
Amundi SA 671,847 36,843 
Atos Origin SA 257,190 27,344 
AXA SA 2,889,800 71,023 
BNP Paribas SA 811,200 51,823 
Capgemini SA 621,500 50,566 
Cegedim SA (a) 536,390 15,061 
Dassault Aviation SA 18,200 20,970 
Havas SA 4,615,881 41,487 
Maisons du Monde SA 1,122,200 31,648 
Rexel SA 1,540,100 26,775 
Rubis 321,900 27,083 
Societe Generale Series A 1,588,100 77,638 
Sodexo SA (b) 397,100 43,874 
SR Teleperformance SA 197,100 21,088 
Total SA 3,973,123 201,019 
VINCI SA 1,018,100 71,328 
TOTAL FRANCE  892,934 
Germany - 6.5%   
adidas AG 252,900 39,763 
Axel Springer Verlag AG 604,902 31,814 
Deutsche Borse AG (a) 164,581 15,144 
Deutsche Post AG 1,817,395 60,730 
Deutsche Telekom AG 1,845,500 32,309 
Fresenius SE & Co. KGaA 440,400 34,672 
Henkel AG & Co. KGaA 342,700 36,047 
KION Group AG 569,649 34,621 
Nexus AG 614,500 13,055 
ProSiebenSat.1 Media AG 855,300 36,386 
Rational AG 94,205 42,712 
SAP AG 1,722,813 157,552 
Scout24 Holding GmbH (a) 558,300 19,892 
Wirecard AG (b) 594,600 28,762 
TOTAL GERMANY  583,459 
Hong Kong - 2.3%   
AIA Group Ltd. 20,254,600 125,403 
China Resources Beer Holdings Co. Ltd. (a) 13,127,600 26,664 
Techtronic Industries Co. Ltd. 16,044,000 55,490 
TOTAL HONG KONG  207,557 
India - 2.8%   
Bharti Infratel Ltd. 10,995,919 47,850 
Dr Lal Pathlabs Ltd. 798,016 13,190 
HDFC Bank Ltd. 1,034,409 22,264 
HDFC Bank Ltd. sponsored ADR 1,000,284 68,950 
Housing Development Finance Corp. Ltd. 4,967,095 100,486 
TOTAL INDIA  252,740 
Indonesia - 0.5%   
PT Bank Central Asia Tbk 16,688,600 19,123 
PT Bank Rakyat Indonesia Tbk 32,624,300 28,648 
TOTAL INDONESIA  47,771 
Ireland - 2.6%   
Cairn Homes PLC (a) 17,549,270 24,012 
CRH PLC 2,269,900 78,733 
Dalata Hotel Group PLC (a) 5,126,600 23,742 
Green REIT PLC 9,492,200 13,321 
James Hardie Industries PLC CDI 1,790,532 28,082 
Kerry Group PLC Class A 574,300 40,359 
Ryanair Holdings PLC sponsored ADR (a) 260,966 21,832 
TOTAL IRELAND  230,081 
Isle of Man - 0.6%   
Paysafe Group PLC (a) 11,183,925 53,731 
Israel - 0.5%   
Frutarom Industries Ltd. 931,500 49,151 
Italy - 0.6%   
De Longhi SpA 1,427,100 35,541 
Intesa Sanpaolo SpA 5,941,000 13,955 
TOTAL ITALY  49,496 
Japan - 17.7%   
ACOM Co. Ltd. (a) 2,209,000 9,528 
Aozora Bank Ltd. 8,893,000 32,450 
Casio Computer Co. Ltd. (b) 2,015,200 27,914 
Daito Trust Construction Co. Ltd. 246,600 34,486 
Dentsu, Inc. 1,150,400 53,185 
Don Quijote Holdings Co. Ltd. 996,300 36,134 
Hoya Corp. 1,560,000 68,004 
Japan Tobacco, Inc. 268,400 8,653 
KDDI Corp. 4,156,700 111,684 
Keyence Corp. 209,320 81,329 
Komatsu Ltd. 1,614,100 38,220 
Misumi Group, Inc. 2,871,700 53,665 
Mitsubishi UFJ Financial Group, Inc. 14,176,400 90,779 
Monex Group, Inc. 12,156,649 32,192 
Morinaga & Co. Ltd. 578,200 24,990 
Nidec Corp. 324,300 30,474 
Nintendo Co. Ltd. 159,700 32,688 
Nitori Holdings Co. Ltd. 226,100 25,271 
Olympus Corp. 2,207,500 76,151 
OMRON Corp. 920,100 37,770 
ORIX Corp. 7,418,500 112,155 
Recruit Holdings Co. Ltd. 1,519,400 66,544 
Relo Holdings Corp. 178,400 26,197 
Shionogi & Co. Ltd. 804,600 38,659 
SMC Corp. 139,300 38,134 
SMS Co., Ltd. 1,148,500 27,525 
SoftBank Corp. 868,500 66,909 
Sony Corp. 3,159,700 95,669 
Start Today Co. Ltd. 2,068,200 38,888 
Sundrug Co. Ltd. 573,400 39,510 
Tsuruha Holdings, Inc. 581,500 54,591 
VT Holdings Co. Ltd. 3,872,500 18,829 
Welcia Holdings Co. Ltd. 1,024,100 56,325 
TOTAL JAPAN  1,585,502 
Luxembourg - 0.7%   
Eurofins Scientific SA 144,039 64,528 
Malta - 0.0%   
Unibet Group PLC unit 247,848 2,093 
Marshall Islands - 0.2%   
Hoegh LNG Partners LP 715,655 13,991 
Netherlands - 4.3%   
ASML Holding NV (Netherlands) 654,600 79,484 
Basic-Fit NV 579,100 10,074 
IMCD Group BV 1,603,400 71,952 
ING Groep NV (Certificaten Van Aandelen) 5,172,700 74,311 
Intertrust NV 1,544,800 28,775 
Koninklijke Philips Electronics NV 3,508,200 102,939 
Takeaway.com Holding BV (c) 505,200 16,522 
Van Lanschot NV unit 223,700 4,825 
TOTAL NETHERLANDS  388,882 
New Zealand - 0.9%   
EBOS Group Ltd. 3,154,998 39,120 
Ryman Healthcare Group Ltd. 6,707,285 42,863 
TOTAL NEW ZEALAND  81,983 
Norway - 1.7%   
Statoil ASA 8,048,000 150,073 
Philippines - 0.3%   
SM Investments Corp. 2,042,375 28,367 
Romania - 0.2%   
Banca Transilvania SA 37,524,532 21,266 
South Africa - 1.7%   
Aspen Pharmacare Holdings Ltd. 656,700 15,010 
EOH Holdings Ltd. 3,062,767 33,344 
Naspers Ltd. Class N 633,400 100,908 
TOTAL SOUTH AFRICA  149,262 
Spain - 3.4%   
Amadeus IT Holding SA Class A 1,624,700 74,969 
Atresmedia Corporacion de Medios de Comunicacion SA 1,719,200 19,505 
CaixaBank SA 18,829,633 68,724 
Grifols SA ADR 1,152,800 19,598 
Hispania Activos Inmobiliarios SA 1,424,325 17,528 
Inditex SA 2,036,776 67,137 
Mediaset Espana Comunicacion SA 2,836,600 34,632 
TOTAL SPAIN  302,093 
Sweden - 3.5%   
ASSA ABLOY AB (B Shares) 3,277,200 62,013 
HEXPOL AB (B Shares) 1,872,700 18,134 
Indutrade AB 1,342,200 27,206 
Nordea Bank AB 4,701,800 56,817 
Saab AB (B Shares) 979,400 39,995 
Sandvik AB 2,729,900 36,827 
Svenska Cellulosa AB (SCA) (B Shares) 1,108,200 33,348 
Svenska Handelsbanken AB (A Shares) 2,492,700 37,213 
TOTAL SWEDEN  311,553 
Switzerland - 6.5%   
ABB Ltd. (Reg.) 3,932,270 93,709 
Credit Suisse Group AG 3,002,287 45,830 
Julius Baer Group Ltd. 892,410 41,953 
Kaba Holding AG (B Shares) (Reg.) 41,400 32,047 
Nestle SA 1,872,584 137,194 
Panalpina Welttransport Holding AG 323,340 39,864 
Partners Group Holding AG 114,926 57,925 
Schindler Holding AG (participation certificate) 170,348 32,364 
Syngenta AG (a) 126,126 53,469 
UBS Group AG 3,331,370 53,764 
TOTAL SWITZERLAND  588,119 
Taiwan - 0.7%   
Largan Precision Co. Ltd. 209,000 29,818 
Taiwan Semiconductor Manufacturing Co. Ltd. 5,895,000 35,303 
TOTAL TAIWAN  65,121 
United Kingdom - 15.2%   
BAE Systems PLC 4,026,900 29,576 
Barclays PLC 13,479,651 37,410 
BCA Marketplace PLC 7,762,300 18,334 
BHP Billiton PLC 4,477,601 81,662 
Booker Group PLC 14,197,800 36,400 
British American Tobacco PLC:   
(United Kingdom) 1,227,100 75,746 
sponsored ADR 211,500 26,057 
Bunzl PLC 1,705,400 44,817 
Cineworld Group PLC 2,055,200 15,862 
CMC Markets PLC 12,077,600 16,850 
Compass Group PLC 1,891,700 33,667 
Countryside Properties PLC 3,312,793 9,731 
Dialog Semiconductor PLC (a) 585,500 27,146 
Diploma PLC 2,312,600 29,529 
Domino's Pizza UK & IRL PLC 4,500,300 20,511 
GlaxoSmithKline PLC 4,905,700 94,803 
Imperial Tobacco Group PLC 852,167 39,381 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. ELS (HSBC Warrant Program) warrants 9/19/19 (a)(c) 2,466,200 25,165 
LivaNova PLC (a) 414,100 19,920 
LivaNova PLC (a) 193,700 9,133 
London Stock Exchange Group PLC 1,316,236 52,506 
Melrose Industries PLC 33,359,962 81,940 
Micro Focus International PLC 3,845,400 103,765 
Moneysupermarket.com Group PLC 5,210,600 21,599 
NCC Group Ltd. 9,151,300 21,327 
Reckitt Benckiser Group PLC 801,600 68,782 
Rex Bionics PLC (a)(d) 1,297,286 318 
Rio Tinto PLC 1,893,300 83,879 
Softcat PLC 4,890,800 19,110 
Spirax-Sarco Engineering PLC 522,100 28,275 
St. James's Place Capital PLC 2,354,900 31,728 
Standard Chartered PLC (United Kingdom) (a) 9,623,197 93,712 
TechnipFMC PLC (a) 799,800 26,212 
Zoopla Property Group PLC 8,567,809 39,470 
TOTAL UNITED KINGDOM  1,364,323 
United States of America - 2.4%   
Alexion Pharmaceuticals, Inc. (a) 211,900 27,691 
Global Payments, Inc. 492,300 38,045 
Monsanto Co. 287,400 31,128 
MSCI, Inc. 562,300 46,530 
Visa, Inc. Class A 824,100 68,161 
TOTAL UNITED STATES OF AMERICA  211,555 
TOTAL COMMON STOCKS   
(Cost $7,762,633)  8,851,692 
Convertible Preferred Stocks - 0.2%   
Cayman Islands - 0.2%   
China Internet Plus Holdings Ltd. Series A-11 (a)(e)   
(Cost $18,833) 5,958,244 18,833 
 Principal Amount (000s) Value (000s) 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 0.34% to 0.54% 2/2/17 to 4/20/17
(Cost $3,679)(f) 		3,680 3,679 
 Shares Value (000s) 
Money Market Funds - 1.2%   
Fidelity Cash Central Fund, 0.62% (g) 44,659,462 44,668 
Fidelity Securities Lending Cash Central Fund 0.65% (g)(h) 66,740,955 66,754 
TOTAL MONEY MARKET FUNDS   
(Cost $111,425)  111,422 
TOTAL INVESTMENT PORTFOLIO - 100.1%   
(Cost $7,896,570)  8,985,626 
NET OTHER ASSETS (LIABILITIES) - (0.1)%  (5,970) 
NET ASSETS - 100%  $8,979,656 

Futures Contracts    
 Expiration Date Underlying Face Amount at Value (000s) Unrealized Appreciation/(Depreciation) (000s) 
Purchased    
Equity Index Contracts    
335 TSE TOPIX Index Contracts (Japan) March 2017 45,009 $1,161 

The face value of futures purchased as a percentage of Net Assets is 0.5%

Security Type Abbreviations

ELS – Equity-Linked Security

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $70,293,000 or 0.8% of net assets.

 (d) Affiliated company

 (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 $18,833,000 or 0.2% of net assets.

 (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 $2,007,000.

 (g) 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
China Internet Plus Holdings Ltd. Series A-11 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 
 (Amounts in thousands) 
Fidelity Cash Central Fund $209 
Fidelity Securities Lending Cash Central Fund 678 
Total $887 

Other Affiliated Issuers

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

Affiliate (Amounts in thousands) Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
Hoegh LNG Partners LP $12,739 $-- $-- $590 $-- 
Rex Bionics PLC 357 -- -- -- 318 
Total $13,096 $-- $-- $590 $318 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Consumer Discretionary $1,190,598 $849,645 $322,120 $18,833 
Consumer Staples 841,831 454,714 387,117 -- 
Energy 490,697 139,605 351,092 -- 
Financials 1,927,743 1,220,560 707,183 -- 
Health Care 726,740 550,726 176,014 -- 
Industrials 1,388,273 1,030,891 357,382 -- 
Information Technology 1,310,398 1,005,371 305,027 -- 
Materials 574,732 330,458 244,274 -- 
Real Estate 91,626 91,626 -- -- 
Telecommunication Services 258,752 47,850 210,902 -- 
Utilities 69,135 69,135 -- -- 
Government Obligations 3,679 -- 3,679 -- 
Money Market Funds 111,422 111,422 -- -- 
Total Investments in Securities: $8,985,626 $5,902,003 $3,064,790 $18,833 
Derivative Instruments:     
Assets     
Futures Contracts $1,161 $1,161 $-- $-- 
Total Assets $1,161 $1,161 $-- $-- 
Total Derivative Instruments: $1,161 $1,161 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total (000s) 
(Amounts in thousands)  
Level 1 to Level 2 $643,783 
Level 2 to Level 1 $100,486 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $7,919,738,000. Net unrealized appreciation aggregated $1,065,888,000, of which $1,325,193,000 related to appreciated investment securities and $259,305,000 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Nordic Fund

January 31, 2017







NOR-QTLY-0317
1.813058.112





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%   
 Shares Value 
Bermuda - 2.5%   
Vostok Emerging Finance Ltd. (depository receipt) (a) 9,489,995 $1,887,779 
Vostok New Ventures Ltd. SDR (a) 928,154 7,533,804 
TOTAL BERMUDA  9,421,583 
Denmark - 16.4%   
Nets A/S (b) 612,800 10,808,702 
Novo Nordisk A/S Series B 780,405 28,203,638 
Novozymes A/S Series B 71,260 2,775,524 
Royal Unibrew A/S 298,300 11,315,432 
Scandinavian Tobacco Group A/S 428,117 7,352,342 
TOTAL DENMARK  60,455,638 
Finland - 12.4%   
Cramo Oyj (B Shares) 285,109 7,094,218 
Olvi PLC (A Shares) 289,146 8,833,367 
Vaisala Oyj 413,400 15,351,526 
Valmet Corp. 916,185 14,469,388 
TOTAL FINLAND  45,748,499 
Malta - 7.8%   
Kambi Group PLC (a) 1,373,411 16,015,356 
Unibet Group PLC unit 1,512,198 12,767,183 
TOTAL MALTA  28,782,539 
Norway - 8.5%   
Orkla ASA 932,600 8,695,018 
Schibsted ASA:   
(A Shares) 311,400 8,234,230 
(B Shares) 262,847 6,548,828 
Zalaris ASA (A Shares) (c) 1,912,400 7,790,525 
TOTAL NORWAY  31,268,601 
Sweden - 49.0%   
Addlife AB (a) 227,375 3,782,175 
AddTech AB (B Shares) 623,800 10,768,575 
AF AB (B Shares) 433,300 8,649,059 
Bravida AB 2,590,500 17,132,584 
Coor Service Management Holding AB 565,300 3,554,492 
Dometic Group AB (a) 1,889,300 14,849,422 
Dustin Group AB (d) 325,861 2,468,051 
East Capital Explorer AB (c) 1,420,992 10,803,120 
Getinge AB (B Shares) 860,500 13,910,290 
Investor AB (B Shares) 474,308 18,918,963 
Mekonomen AB (d) 595,590 12,732,829 
Nobia AB 1,346,400 12,113,921 
Pandox AB 1,031,348 16,495,248 
Svenska Cellulosa AB (SCA) (B Shares) 826,400 24,867,701 
Systemair AB 690,479 9,985,663 
TOTAL SWEDEN  181,032,093 
United States of America - 2.3%   
Autoliv, Inc. Swedish Depository Receipt 74,000 8,519,166 
TOTAL COMMON STOCKS   
(Cost $338,509,496)  365,228,119 
Money Market Funds - 3.3%   
Fidelity Cash Central Fund, 0.62% (e) 9,783,889 9,785,846 
Fidelity Securities Lending Cash Central Fund 0.65% (e)(f) 2,326,157 2,326,622 
TOTAL MONEY MARKET FUNDS   
(Cost $12,112,468)  12,112,468 
TOTAL INVESTMENT PORTFOLIO - 102.2%   
(Cost $350,621,964)  377,340,587 
NET OTHER ASSETS (LIABILITIES) - (2.2)%  (8,064,048) 
NET ASSETS - 100%  $369,276,539 

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $10,808,702 or 2.9% of net assets.

 (c) Affiliated company

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

 (e) 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.

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


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 $2,285 
Fidelity Securities Lending Cash Central Fund 7,527 
Total $9,812 

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Value, end of period 
East Capital Explorer AB $9,439,560 $-- $-- $-- $10,803,120 
Zalaris ASA (A Shares) 7,059,517 -- -- -- 7,790,525 
Total $16,499,077 $-- $-- $-- $18,593,645 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $110,744,234 $110,744,234 $-- $-- 
Consumer Staples 53,711,518 28,843,817 24,867,701 -- 
Financials 46,496,008 46,496,008 -- -- 
Health Care 45,896,103 17,692,465 28,203,638 -- 
Industrials 79,444,504 79,444,504 -- -- 
Information Technology 26,160,228 26,160,228 -- -- 
Materials 2,775,524 2,775,524 -- -- 
Money Market Funds 12,112,468 12,112,468 -- -- 
Total Investments in Securities: $377,340,587 $324,269,248 $53,071,339 $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended January 31, 2017. 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 section:

Transfers Total 
Level 1 to Level 2 $27,737,150 
Level 2 to Level 1 $0 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $354,698,534. Net unrealized appreciation aggregated $22,642,053, of which $44,900,347 related to appreciated investment securities and $22,258,294 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

Quarterly Holdings Report
for

Fidelity® Global Commodity Stock Fund

January 31, 2017







GCS-QTLY-0317
1.879386.107





Investments January 31, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.1%   
 Shares Value 
Aerospace & Defense - 0.4%   
Aerospace & Defense - 0.4%   
Rolls-Royce Holdings PLC 210,718 $1,774,800 
Building Products - 0.2%   
Building Products - 0.2%   
Masco Corp. 28,500 939,075 
Chemicals - 22.7%   
Commodity Chemicals - 0.6%   
LyondellBasell Industries NV Class A 28,400 2,648,868 
Diversified Chemicals - 0.4%   
E.I. du Pont de Nemours & Co. 600 45,300 
The Chemours Co. LLC 50,300 1,328,926 
The Dow Chemical Co. 7,000 417,410 
  1,791,636 
Fertilizers & Agricultural Chemicals - 21.0%   
Agrium, Inc. 80,600 8,301,258 
CF Industries Holdings, Inc. 291,360 10,282,094 
FMC Corp. 44,800 2,695,168 
K&S AG (a) 114,400 2,894,718 
Monsanto Co. 236,600 25,626,146 
Potash Corp. of Saskatchewan, Inc. 510,000 9,488,646 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 65,500 2,116,960 
Syngenta AG (Switzerland) 44,596 18,953,903 
The Mosaic Co. 210,661 6,608,436 
UPL Ltd. (b) 85,400 916,739 
Yara International ASA 98,100 4,134,257 
  92,018,325 
Specialty Chemicals - 0.7%   
Frutarom Industries Ltd. 16,600 875,898 
Platform Specialty Products Corp. (b) 31,900 387,266 
Sherwin-Williams Co. 1,400 425,334 
W.R. Grace & Co. 17,900 1,241,186 
  2,929,684 
TOTAL CHEMICALS  99,388,513 
Construction& Engineering - 0.4%   
Construction & Engineering - 0.4%   
Dycom Industries, Inc. (b) 11,200 903,392 
KBR, Inc. 12,800 217,728 
VINCI SA 9,400 658,560 
  1,779,680 
Construction Materials - 0.2%   
Construction Materials - 0.2%   
West China Cement Ltd. (b) 6,522,000 898,117 
Containers & Packaging - 0.6%   
Paper Packaging - 0.6%   
Graphic Packaging Holding Co. 70,200 878,202 
Smurfit Kappa Group PLC 31,300 824,436 
WestRock Co. 14,559 776,868 
  2,479,506 
Electrical Equipment - 0.2%   
Electrical Components & Equipment - 0.2%   
Acuity Brands, Inc. 4,400 911,812 
Energy Equipment & Services - 0.2%   
Oil & Gas Equipment & Services - 0.2%   
Baker Hughes, Inc. 13,800 870,504 
Food Products - 6.8%   
Agricultural Products - 6.5%   
Archer Daniels Midland Co. 326,300 14,442,038 
Bunge Ltd. 91,500 6,332,715 
Darling International, Inc. (b) 169,400 2,032,800 
First Resources Ltd. 1,605,600 2,198,750 
Ingredion, Inc. 9,500 1,217,805 
SLC Agricola SA 418,100 2,178,668 
  28,402,776 
Packaged Foods & Meats - 0.3%   
Adecoagro SA (b) 102,700 1,188,239 
TOTAL FOOD PRODUCTS  29,591,015 
Household Products - 0.4%   
Household Products - 0.4%   
Svenska Cellulosa AB (SCA) (B Shares) 60,700 1,826,560 
Independent Power and Renewable Electricity Producers - 0.3%   
Independent Power Producers & Energy Traders - 0.3%   
China Resources Power Holdings Co. Ltd. 656,000 1,126,672 
Machinery - 1.0%   
Agricultural & Farm Machinery - 0.6%   
AGCO Corp. 13,500 847,800 
Deere & Co. 300 32,115 
Jain Irrigation Systems Ltd. 1,414,459 1,977,708 
  2,857,623 
Construction Machinery & Heavy Trucks - 0.4%   
Allison Transmission Holdings, Inc. 24,900 871,002 
Caterpillar, Inc. 9,100 870,506 
  1,741,508 
TOTAL MACHINERY  4,599,131 
Metals & Mining - 29.4%   
Copper - 1.5%   
First Quantum Minerals Ltd. 199,824 2,519,971 
Freeport-McMoRan, Inc. (b) 257,300 4,284,045 
  6,804,016 
Diversified Metals & Mining - 15.1%   
Anglo American PLC (United Kingdom) (b) 251,851 4,302,532 
Arizona Mining, Inc. (b) 145,000 328,722 
BHP Billiton PLC 1,023,104 18,659,185 
Glencore Xstrata PLC (b) 3,290,819 13,514,541 
Grupo Mexico SA de CV Series B 333,511 1,000,205 
Ivanhoe Mines Ltd. (b) 427,200 1,303,350 
Korea Zinc Co. Ltd. 2,332 992,224 
MMC Norilsk Nickel PJSC sponsored ADR 53,800 869,946 
Rio Tinto PLC 406,287 17,999,732 
South32 Ltd. 618,778 1,295,093 
Sumitomo Metal Mining Co. Ltd. 114,000 1,546,789 
Teck Resources Ltd. Class B (sub. vtg.) 131,900 3,232,500 
Turquoise Hill Resources Ltd. (b) 247,700 896,574 
  65,941,393 
Gold - 7.8%   
Acacia Mining PLC 184,100 997,029 
Agnico Eagle Mines Ltd. (Canada) 50,500 2,408,865 
AngloGold Ashanti Ltd. sponsored ADR (b) 98,800 1,255,748 
B2Gold Corp. (b) 648,180 1,967,578 
Barrick Gold Corp. 270,500 4,984,891 
Continental Gold, Inc. (b) 319,700 1,063,824 
Detour Gold Corp. (b) 67,600 916,918 
Eldorado Gold Corp. (b) 263,900 932,903 
Franco-Nevada Corp. 34,900 2,270,076 
Goldcorp, Inc. 55,210 892,694 
New Gold, Inc. (b) 168,000 448,000 
Newcrest Mining Ltd. 54,365 887,691 
Newmont Mining Corp. 124,600 4,520,488 
Premier Gold Mines Ltd. (b) 837,800 1,886,458 
Randgold Resources Ltd. sponsored ADR 60,100 5,104,894 
Royal Gold, Inc. 12,700 916,559 
SEMAFO, Inc. (b) 294,100 1,096,165 
Tahoe Resources, Inc. 100,900 920,410 
Torex Gold Resources, Inc. (b) 43,070 913,531 
  34,384,722 
Precious Metals & Minerals - 0.7%   
Fresnillo PLC 68,900 1,259,405 
Gold Standard Ventures Corp. (b) 352,700 964,928 
Impala Platinum Holdings Ltd. (b) 67,400 268,603 
Industrias Penoles SA de CV 19,600 463,497 
  2,956,433 
Silver - 0.7%   
Silver Wheaton Corp. 132,400 2,927,299 
Steel - 3.6%   
ArcelorMittal SA Class A unit (a)(b) 409,310 3,188,525 
Fortescue Metals Group Ltd. 240,700 1,215,762 
Hyundai Steel Co. 34,052 1,720,881 
Nippon Steel & Sumitomo Metal Corp. 36,900 894,313 
Nucor Corp. 58,792 3,415,227 
POSCO 17,262 4,071,227 
Thyssenkrupp AG 50,100 1,262,837 
  15,768,772 
TOTAL METALS & MINING  128,782,635 
Oil, Gas & Consumable Fuels - 29.9%   
Coal & Consumable Fuels - 0.2%   
Arch Coal, Inc. (b) 12,300 885,477 
Integrated Oil & Gas - 14.9%   
BP PLC 432,100 2,580,734 
Cenovus Energy, Inc. 98,600 1,345,734 
Chevron Corp. 156,600 17,437,410 
China Petroleum & Chemical Corp. (H Shares) 1,948,000 1,538,778 
Exxon Mobil Corp. 113,400 9,513,126 
Imperial Oil Ltd. 49,300 1,620,791 
Lukoil PJSC sponsored ADR 46,600 2,614,726 
Occidental Petroleum Corp. 47,400 3,212,298 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 149,500 4,054,691 
Class B (United Kingdom) 44,393 1,253,855 
Statoil ASA 104,500 1,948,632 
Suncor Energy, Inc. 298,132 9,246,961 
Total SA 174,000 8,803,563 
  65,171,299 
Oil & Gas Exploration & Production - 14.2%   
Anadarko Petroleum Corp. 127,500 8,865,075 
Apache Corp. 29,500 1,764,690 
Cabot Oil & Gas Corp. 75,400 1,619,592 
Canadian Natural Resources Ltd. 62,400 1,886,506 
Carrizo Oil & Gas, Inc. (b) 25,100 887,536 
Cimarex Energy Co. 6,800 919,428 
CNOOC Ltd. sponsored ADR 11,600 1,459,628 
Concho Resources, Inc. (b) 5,500 766,920 
ConocoPhillips Co. 148,000 7,216,480 
Continental Resources, Inc. (b) 20,300 985,768 
Devon Energy Corp. 42,400 1,930,896 
Diamondback Energy, Inc.(b) 8,600 904,462 
EOG Resources, Inc. 43,900 4,459,362 
EQT Corp. 30,401 1,843,213 
Extraction Oil & Gas, Inc. 48,087 861,719 
Hess Corp. 20,000 1,083,600 
INPEX Corp. 84,500 831,080 
Marathon Oil Corp. 56,800 951,400 
Murphy Oil Corp. 15,400 445,214 
Newfield Exploration Co. (b) 21,900 877,752 
Noble Energy, Inc. 111,200 4,421,312 
NOVATEK OAO GDR (Reg. S) 13,400 1,696,440 
Parsley Energy, Inc. Class A (b) 32,400 1,141,128 
PDC Energy, Inc. (b) 10,900 805,946 
Pioneer Natural Resources Co. 13,010 2,344,792 
PrairieSky Royalty Ltd. 83,798 1,964,141 
QEP Resources, Inc. (b) 63,300 1,103,952 
Range Resources Corp. 46,900 1,516,746 
Rice Energy, Inc. (b) 53,700 1,064,871 
RSP Permian, Inc. (b) 21,100 898,016 
SM Energy Co. 27,800 848,178 
Southwestern Energy Co. (b) 107,000 964,070 
Whiting Petroleum Corp. (b) 105,800 1,173,322 
Woodside Petroleum Ltd. 59,111 1,414,828 
  61,918,063 
Oil & Gas Refining & Marketing - 0.1%   
Reliance Industries Ltd. 29,700 459,786 
Oil & Gas Storage & Transport - 0.5%   
Boardwalk Pipeline Partners, LP 23,800 439,348 
Kinder Morgan, Inc. 39,600 884,664 
The Williams Companies, Inc. 30,400 876,736 
  2,200,748 
TOTAL OIL, GAS & CONSUMABLE FUELS  130,635,373 
Paper & Forest Products - 4.1%   
Forest Products - 1.2%   
Boise Cascade Co. (b) 48,900 1,212,720 
Norbord, Inc. 43,500 1,079,769 
TFS Corp. Ltd. 1,617,547 1,925,994 
West Fraser Timber Co. Ltd. 35,900 1,226,049 
  5,444,532 
Paper Products - 2.9%   
Empresas CMPC SA 625,079 1,345,523 
Mondi PLC 189,700 4,178,632 
Nine Dragons Paper (Holdings) Ltd. 772,000 888,522 
Sappi Ltd. 134,161 861,916 
Stora Enso Oyj (R Shares) 187,300 2,127,042 
UPM-Kymmene Corp. 134,200 3,042,247 
  12,443,882 
TOTAL PAPER & FOREST PRODUCTS  17,888,414 
Semiconductors & Semiconductor Equipment - 0.3%   
Semiconductor Equipment - 0.3%   
SolarEdge Technologies, Inc. (b) 85,500 1,107,225 
TOTAL COMMON STOCKS   
(Cost $457,655,271)  424,599,032 
Nonconvertible Preferred Stocks - 1.5%   
Metals & Mining - 0.9%   
Steel - 0.9%   
Vale SA (PN-A) sponsored ADR 406,800 3,941,892 
Oil, Gas & Consumable Fuels - 0.4%   
Integrated Oil & Gas - 0.4%   
Petroleo Brasileiro SA - Petrobras (PN) sponsored (non-vtg.) (b) 182,700 1,737,477 
Paper & Forest Products - 0.2%   
Paper Products - 0.2%   
Suzano Papel e Celulose SA 191,300 813,500 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $6,725,243)  6,492,869 
Money Market Funds - 3.4%   
Fidelity Cash Central Fund, 0.62% (c) 9,114,820 9,116,643 
Fidelity Securities Lending Cash Central Fund 0.65% (c)(d) 5,932,848 5,934,034 
TOTAL MONEY MARKET FUNDS   
(Cost $15,051,001)  15,050,677 
TOTAL INVESTMENT PORTFOLIO - 102.0%   
(Cost $479,431,515)  446,142,578 
NET OTHER ASSETS (LIABILITIES) - (2.0)%  (8,691,450) 
NET ASSETS - 100%  $437,451,128 

Legend

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

 (b) Non-income producing

 (c) 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.

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


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 $9,531 
Fidelity Securities Lending Cash Central Fund 25,684 
Total $35,215 

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Common Stocks $424,599,032 $336,656,365 $87,942,667 $-- 
Nonconvertible Preferred Stocks 6,492,869 6,492,869 -- -- 
Money Market Funds 15,050,677 15,050,677 -- -- 
Total Investments in Securities: $446,142,578 $358,199,911 $87,942,667 $-- 

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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.

Other Information

Income Tax Information

At January 31, 2017, the cost of investment securities for income tax purposes was $484,709,345. Net unrealized depreciation aggregated $38,566,767, of which $32,215,896 related to appreciated investment securities and $70,782,663 related to depreciated investment securities.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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

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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

March 31, 2017


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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

March 31, 2017



By:

/s/Howard J. Galligan III


Howard J. Galligan III


Chief Financial Officer



Date:

March 31, 2017

 





 EX-99.CERT 2 investment_ex99.htm INVESTMENT_EX99.HTM Converted by EDGARwiz

                                                      Exhibit EX-99.CERT

     

I, Stacie M. Smith, 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:

March 31, 2017

/s/Stacie M. Smith

Stacie M. Smith

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:

March 31, 2017

/s/Howard J. Galligan III

Howard J. Galligan III

Chief Financial Officer