Quarterly Holdings Report
for
Fidelity® Diversified International Fund
July 31, 2019
Schedule of Investments July 31, 2019 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 97.6% | |||
Shares | Value | ||
Australia - 1.4% | |||
CSL Ltd. | 620,184 | $96,774,993 | |
Magellan Financial Group Ltd. | 2,119,634 | 89,016,429 | |
TOTAL AUSTRALIA | 185,791,422 | ||
Bailiwick of Jersey - 1.0% | |||
Experian PLC | 2,388,500 | 72,616,371 | |
Ferguson PLC | 864,395 | 64,795,398 | |
TOTAL BAILIWICK OF JERSEY | 137,411,769 | ||
Belgium - 0.9% | |||
KBC Groep NV | 1,793,628 | 115,717,632 | |
Bermuda - 1.7% | |||
Credicorp Ltd. (United States) | 258,000 | 56,241,420 | |
Hiscox Ltd. | 2,576,400 | 53,263,721 | |
IHS Markit Ltd. (a) | 1,003,000 | 64,613,260 | |
Marvell Technology Group Ltd. | 2,000,100 | 52,522,626 | |
TOTAL BERMUDA | 226,641,027 | ||
Brazil - 0.8% | |||
BM&F BOVESPA SA | 3,195,600 | 35,327,568 | |
Notre Dame Intermedica Participacoes SA | 2,299,900 | 26,335,538 | |
Rumo SA (a) | 6,751,200 | 38,776,921 | |
TOTAL BRAZIL | 100,440,027 | ||
Canada - 3.0% | |||
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) | 2,516,781 | 154,271,543 | |
Cenovus Energy, Inc. (Canada) | 4,141,484 | 38,502,810 | |
Constellation Software, Inc. | 62,622 | 59,580,102 | |
Fairfax India Holdings Corp. (a)(b) | 2,899,200 | 36,964,800 | |
Franco-Nevada Corp. | 393,201 | 34,171,961 | |
Kirkland Lake Gold Ltd. | 785,300 | 32,475,886 | |
Suncor Energy, Inc. | 909,400 | 26,094,089 | |
Waste Connection, Inc. (Canada) | 155,300 | 14,086,197 | |
TOTAL CANADA | 396,147,388 | ||
Cayman Islands - 2.0% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 619,400 | 107,224,334 | |
Anta Sports Products Ltd. | 3,666,000 | 27,366,447 | |
ENN Energy Holdings Ltd. | 1,352,400 | 13,911,334 | |
Hansoh Pharmaceutical Group Co. Ltd. (b) | 2,200,000 | 5,912,316 | |
Sea Ltd. ADR (a) | 384,000 | 13,478,400 | |
Tencent Holdings Ltd. | 1,618,100 | 75,392,090 | |
Zai Lab Ltd. ADR (a) | 500,327 | 16,070,503 | |
TOTAL CAYMAN ISLANDS | 259,355,424 | ||
China - 1.2% | |||
Kweichow Moutai Co. Ltd. (A Shares) | 387,360 | 54,335,270 | |
Ping An Insurance (Group) Co. of China Ltd. (H Shares) | 4,997,500 | 58,899,604 | |
Shanghai International Airport Co. Ltd. (A Shares) | 2,934,638 | 35,052,552 | |
Yantai Jereh Oilfield Services (A Shares) | 1,748,700 | 6,726,764 | |
TOTAL CHINA | 155,014,190 | ||
Denmark - 1.8% | |||
DSV de Sammensluttede Vognmaend A/S | 992,200 | 94,869,252 | |
Netcompany Group A/S (a)(b) | 522,365 | 20,520,431 | |
Novozymes A/S Series B | 871,000 | 40,452,474 | |
ORSTED A/S (b) | 971,500 | 88,742,373 | |
TOTAL DENMARK | 244,584,530 | ||
France - 7.3% | |||
Amundi SA (b) | 983,113 | 67,910,300 | |
Capgemini SA | 898,600 | 114,644,960 | |
Danone SA | 1,080,800 | 93,740,983 | |
Edenred SA | 132,000 | 6,639,875 | |
Essilor International SA | 153,000 | 20,773,353 | |
Kering SA | 77,454 | 40,255,671 | |
Legrand SA | 567,500 | 40,118,289 | |
LVMH Moet Hennessy Louis Vuitton SE | 420,438 | 173,665,768 | |
Pernod Ricard SA | 228,600 | 40,249,225 | |
Sanofi SA | 1,688,532 | 140,708,438 | |
SR Teleperformance SA | 525,100 | 110,211,768 | |
VINCI SA | 1,199,100 | 123,343,887 | |
TOTAL FRANCE | 972,262,517 | ||
Germany - 9.7% | |||
adidas AG | 472,402 | 151,419,886 | |
Allianz SE | 550,800 | 127,790,598 | |
Bayer AG | 1,192,676 | 77,248,420 | |
Deutsche Borse AG | 764,900 | 106,185,327 | |
Deutsche Post AG | 2,359,119 | 77,066,685 | |
Hannover Reuck SE | 502,400 | 78,807,418 | |
Linde PLC | 794,734 | 152,860,130 | |
Morphosys AG (a) | 115,300 | 13,950,735 | |
Morphosys AG sponsored ADR (a) | 739,773 | 22,215,383 | |
MTU Aero Engines Holdings AG | 53,000 | 13,288,981 | |
RWE AG | 1,253,400 | 33,938,587 | |
SAP SE | 2,364,189 | 288,989,148 | |
Symrise AG | 794,700 | 73,580,859 | |
Vonovia SE | 1,375,800 | 67,408,449 | |
TOTAL GERMANY | 1,284,750,606 | ||
Hong Kong - 2.1% | |||
AIA Group Ltd. | 23,492,600 | 240,464,811 | |
Techtronic Industries Co. Ltd. | 5,072,500 | 37,722,424 | |
TOTAL HONG KONG | 278,187,235 | ||
India - 4.8% | |||
Axis Bank Ltd. | 6,284,405 | 61,252,321 | |
Godrej Consumer Products Ltd. | 516,740 | 4,481,611 | |
HDFC Bank Ltd. | 5,217,797 | 169,979,881 | |
Housing Development Finance Corp. Ltd. | 5,346,947 | 164,172,810 | |
Infosys Ltd. sponsored ADR | 1,879,400 | 21,274,808 | |
Kotak Mahindra Bank Ltd. | 2,504,705 | 55,069,403 | |
LIC Housing Finance Ltd. | 4,592,641 | 34,400,926 | |
Reliance Industries Ltd. | 7,452,312 | 125,464,552 | |
TOTAL INDIA | 636,096,312 | ||
Indonesia - 1.2% | |||
PT Bank Central Asia Tbk | 34,875,100 | 76,564,042 | |
PT Bank Rakyat Indonesia Tbk | 242,711,100 | 76,909,801 | |
TOTAL INDONESIA | 153,473,843 | ||
Ireland - 2.3% | |||
CRH PLC | 1,773,100 | 59,114,299 | |
DCC PLC (United Kingdom) | 223,689 | 18,938,603 | |
Kerry Group PLC Class A | 774,500 | 90,366,956 | |
Kingspan Group PLC (Ireland) | 1,639,700 | 80,411,052 | |
Ryanair Holdings PLC sponsored ADR (a) | 862,199 | 53,568,424 | |
TOTAL IRELAND | 302,399,334 | ||
Israel - 0.1% | |||
Check Point Software Technologies Ltd. (a) | 174,500 | 19,535,275 | |
Italy - 1.2% | |||
Enel SpA | 4,782,300 | 32,713,935 | |
FinecoBank SpA | 2,018,400 | 20,091,444 | |
Intesa Sanpaolo SpA | 19,421,500 | 42,123,438 | |
Moncler SpA | 621,400 | 25,568,864 | |
Recordati SpA | 917,600 | 41,169,693 | |
TOTAL ITALY | 161,667,374 | ||
Japan - 17.2% | |||
Bandai Namco Holdings, Inc. | 626,500 | 33,976,928 | |
Daikin Industries Ltd. | 686,000 | 85,144,134 | |
Hitachi High-Technologies Corp. | 148,300 | 7,565,631 | |
Hoya Corp. | 2,768,400 | 213,883,647 | |
Iriso Electronics Co. Ltd. | 211,400 | 9,715,967 | |
Itochu Corp. | 3,450,600 | 65,701,953 | |
Kao Corp. | 1,263,300 | 92,196,609 | |
Keyence Corp. | 314,120 | 182,281,419 | |
KH Neochem Co. Ltd. | 698,200 | 17,475,858 | |
Minebea Mitsumi, Inc. | 7,846,300 | 133,916,641 | |
Misumi Group, Inc. | 1,659,400 | 37,736,516 | |
Nabtesco Corp. | 610,600 | 16,619,051 | |
Nidec Corp. | 285,800 | 38,657,478 | |
Nitori Holdings Co. Ltd. | 750,600 | 101,630,095 | |
Oracle Corp. Japan | 188,100 | 15,699,494 | |
ORIX Corp. | 10,118,100 | 145,228,543 | |
PALTAC Corp. | 398,200 | 19,619,009 | |
Persol Holdings Co., Ltd. | 2,622,700 | 64,054,728 | |
Recruit Holdings Co. Ltd. | 4,228,300 | 143,180,712 | |
Renesas Electronics Corp. (a) | 9,151,003 | 54,591,423 | |
Shimadzu Corp. | 840,110 | 20,371,451 | |
Shin-Etsu Chemical Co. Ltd. | 940,600 | 95,768,032 | |
Shiseido Co. Ltd. | 960,200 | 70,655,905 | |
SMC Corp. | 264,600 | 96,947,844 | |
SoftBank Corp. | 1,406,300 | 71,803,081 | |
Sony Corp. | 1,495,400 | 85,049,250 | |
Suzuki Motor Corp. | 1,487,000 | 58,154,319 | |
Takeda Pharmaceutical Co. Ltd. | 784,929 | 27,014,045 | |
Tokyo Electron Ltd. | 359,400 | 60,872,467 | |
Tsubaki Nakashima Co. Ltd. | 594,700 | 10,342,609 | |
Tsuruha Holdings, Inc. | 1,059,514 | 108,395,908 | |
Welcia Holdings Co. Ltd. | 1,074,100 | 50,155,603 | |
Yahoo! Japan Corp. | 13,512,900 | 39,578,344 | |
TOTAL JAPAN | 2,273,984,694 | ||
Korea (South) - 0.7% | |||
LG Chemical Ltd. | 113,008 | 31,829,164 | |
SK Hynix, Inc. | 901,820 | 57,489,663 | |
TOTAL KOREA (SOUTH) | 89,318,827 | ||
Luxembourg - 0.5% | |||
B&M European Value Retail SA | 16,263,163 | 73,177,240 | |
Mexico - 0.1% | |||
Grupo Financiero Banorte S.A.B. de CV Series O | 3,097,500 | 15,594,380 | |
Netherlands - 6.6% | |||
Adyen BV (a)(b) | 24,857 | 18,903,972 | |
ASML Holding NV | 1,003,000 | 223,478,430 | |
Ferrari NV | 175,400 | 28,280,540 | |
Heineken NV (Bearer) | 646,100 | 69,463,400 | |
Interxion Holding N.V. (a) | 229,931 | 17,313,804 | |
Koninklijke Philips Electronics NV | 2,153,600 | 101,026,758 | |
NXP Semiconductors NV | 884,900 | 91,489,811 | |
Unilever NV | 3,473,457 | 201,334,186 | |
Wolters Kluwer NV | 1,645,600 | 119,429,288 | |
TOTAL NETHERLANDS | 870,720,189 | ||
New Zealand - 0.4% | |||
Ryman Healthcare Group Ltd. | 5,564,028 | 46,914,563 | |
Norway - 1.3% | |||
Adevinta ASA: | |||
Class A (a) | 2,662,100 | 29,876,788 | |
Class B | 1,344,600 | 14,953,832 | |
Equinor ASA | 3,612,300 | 64,808,336 | |
Schibsted ASA (A Shares) | 2,184,700 | 59,052,613 | |
TOTAL NORWAY | 168,691,569 | ||
South Africa - 0.2% | |||
Capitec Bank Holdings Ltd. | 383,200 | 31,366,631 | |
Spain - 0.4% | |||
Amadeus IT Holding SA Class A | 241,500 | 19,077,418 | |
Cellnex Telecom SA (b) | 727,200 | 27,281,802 | |
Masmovil Ibercom SA (a) | 192,565 | 4,369,974 | |
TOTAL SPAIN | 50,729,194 | ||
Sweden - 2.2% | |||
ASSA ABLOY AB (B Shares) | 4,180,100 | 95,879,513 | |
Coor Service Management Holding AB (b) | 1,895,500 | 16,029,225 | |
Hexagon AB (B Shares) | 742,900 | 36,140,562 | |
Indutrade AB | 1,206,700 | 34,272,840 | |
Svenska Handelsbanken AB (A Shares) | 2,438,200 | 21,938,733 | |
Swedbank AB (A Shares) | 1,670,000 | 22,741,602 | |
Telefonaktiebolaget LM Ericsson (B Shares) | 7,724,800 | 67,586,389 | |
TOTAL SWEDEN | 294,588,864 | ||
Switzerland - 5.9% | |||
Alcon, Inc. (a) | 1,750,400 | 102,079,533 | |
Compagnie Financiere Richemont SA Series A | 154,620 | 13,249,891 | |
Julius Baer Group Ltd. | 1,266,140 | 54,105,485 | |
Lonza Group AG | 211,477 | 72,572,621 | |
Medacta Group SA (b) | 173,800 | 15,203,459 | |
Roche Holding AG (participation certificate) | 991,424 | 265,369,706 | |
Sika AG | 920,721 | 133,310,365 | |
Sonova Holding AG Class B | 214,690 | 49,541,355 | |
Swiss Re Ltd. | 788,440 | 76,548,958 | |
TOTAL SWITZERLAND | 781,981,373 | ||
Taiwan - 0.8% | |||
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 2,460,100 | 104,874,063 | |
United Kingdom - 12.0% | |||
Admiral Group PLC | 654,200 | 17,240,059 | |
Aon PLC | 341,800 | 64,685,650 | |
Ascential PLC (b) | 5,398,073 | 26,140,223 | |
AstraZeneca PLC (United Kingdom) | 2,415,039 | 208,644,576 | |
Beazley PLC | 4,804,300 | 33,682,066 | |
Big Yellow Group PLC | 1,463,400 | 17,600,647 | |
BP PLC sponsored ADR | 3,124,200 | 124,155,708 | |
Bunzl PLC | 2,015,470 | 52,696,781 | |
Coca-Cola European Partners PLC | 1,003,400 | 55,467,952 | |
Compass Group PLC | 3,944,088 | 99,787,505 | |
InterContinental Hotel Group PLC | 842,369 | 58,523,330 | |
Lloyds Banking Group PLC | 127,549,900 | 82,509,994 | |
London Stock Exchange Group PLC | 1,643,200 | 132,407,061 | |
Network International Holdings PLC (b) | 3,300,582 | 24,604,825 | |
Ocado Group PLC (a) | 734,200 | 11,120,579 | |
Prudential PLC | 8,078,381 | 166,206,508 | |
RELX PLC (Euronext N.V.) | 5,244,199 | 124,582,345 | |
Rentokil Initial PLC | 10,570,900 | 55,920,431 | |
Rio Tinto PLC | 944,200 | 53,320,379 | |
Smith & Nephew PLC | 3,800,000 | 86,027,551 | |
Standard Chartered PLC (United Kingdom) | 7,354,257 | 60,529,689 | |
Tesco PLC | 12,862,919 | 34,841,896 | |
TOTAL UNITED KINGDOM | 1,590,695,755 | ||
United States of America - 6.8% | |||
Alphabet, Inc. Class C (a) | 59,503 | 72,396,110 | |
Amgen, Inc. | 226,100 | 42,185,738 | |
Becton, Dickinson & Co. | 232,500 | 58,776,000 | |
Boston Scientific Corp. (a) | 1,664,228 | 70,663,121 | |
Citigroup, Inc. | 816,500 | 58,102,140 | |
Coty, Inc. Class A | 3,749,700 | 40,909,227 | |
IQVIA Holdings, Inc. (a) | 464,400 | 73,918,548 | |
Marsh & McLennan Companies, Inc. | 656,500 | 64,862,200 | |
MasterCard, Inc. Class A | 584,400 | 159,114,588 | |
Microsoft Corp. | 676,200 | 92,145,774 | |
QIAGEN NV (a) | 340,052 | 12,826,761 | |
Visa, Inc. Class A | 885,900 | 157,690,200 | |
TOTAL UNITED STATES OF AMERICA | 903,590,407 | ||
TOTAL COMMON STOCKS | |||
(Cost $9,539,629,745) | 12,925,703,654 | ||
Money Market Funds - 2.1% | |||
Fidelity Cash Central Fund 2.43% (c) | |||
(Cost $276,815,836) | 276,787,509 | 276,842,866 | |
TOTAL INVESTMENT IN SECURITIES - 99.7% | |||
(Cost $9,816,445,581) | 13,202,546,520 | ||
NET OTHER ASSETS (LIABILITIES) - 0.3% | 42,875,481 | ||
NET ASSETS - 100% | $13,245,422,001 |
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 $348,213,726 or 2.6% of net assets.
(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.
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 | $9,375,457 |
Fidelity Securities Lending Cash Central Fund | 1,528,118 |
Total | $10,903,575 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The 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 Funds 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. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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