NPORT-EX 1 QTLY_1978_20190731.htm

Quarterly Holdings Report
for

Fidelity® Total International Equity Fund

July 31, 2019







TIE-QTLY-0919
1.863105.111





Schedule of Investments July 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%   
 Shares Value 
Australia - 1.9%   
Beacon Lighting Group Ltd. 15,420 $11,477 
Commonwealth Bank of Australia 5,876 329,771 
CSL Ltd. 5,794 904,110 
Imdex Ltd. 19,811 18,064 
Insurance Australia Group Ltd. 40,838 240,525 
Macquarie Group Ltd. 3,276 286,712 
TOTAL AUSTRALIA  1,790,659 
Austria - 0.4%   
Andritz AG 4,572 163,781 
Erste Group Bank AG 7,000 251,378 
TOTAL AUSTRIA  415,159 
Bailiwick of Jersey - 0.8%   
Experian PLC 11,500 349,629 
Glencore Xstrata PLC 86,400 277,069 
Integrated Diagnostics Holdings PLC (a) 7,500 38,175 
WPP PLC 7,700 90,702 
TOTAL BAILIWICK OF JERSEY  755,575 
Belgium - 0.6%   
Barco NV 310 64,791 
KBC Ancora 1,261 54,106 
KBC Groep NV 7,112 458,838 
TOTAL BELGIUM  577,735 
Brazil - 2.2%   
Atacadao Distribuicao Comercio e Industria Ltda 83,900 514,654 
BM&F BOVESPA SA 47,800 528,432 
IRB Brasil Resseguros SA 15,900 395,797 
Natura Cosmeticos SA 26,100 418,341 
Suzano Papel e Celulose SA 30,500 245,112 
TOTAL BRAZIL  2,102,336 
Canada - 6.7%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 13,649 836,645 
Brookfield Asset Management, Inc. Class A 7,000 342,999 
Canadian National Railway Co. 9,836 930,984 
Canadian Pacific Railway Ltd. 3,216 767,839 
Constellation Software, Inc. 672 639,357 
Franco-Nevada Corp. 5,934 515,707 
McCoy Global, Inc. (b) 7,000 2,705 
New Look Vision Group, Inc. 1,300 32,613 
Nutrien Ltd. 13,986 766,803 
Pason Systems, Inc. 15,045 202,226 
PrairieSky Royalty Ltd. 13,458 180,283 
Richelieu Hardware Ltd. 1,000 19,745 
ShawCor Ltd. Class A 800 10,474 
Suncor Energy, Inc. 12,294 352,761 
The Toronto-Dominion Bank 12,000 701,470 
Waste Connection, Inc. (Canada) 2,000 181,406 
TOTAL CANADA  6,484,017 
Cayman Islands - 4.6%   
Airtac International Group 36,000 367,155 
Alibaba Group Holding Ltd. sponsored ADR (b) 2,500 432,775 
JD.com, Inc. sponsored ADR (b) 12,620 377,464 
Meituan Dianping Class B 31,400 253,906 
PagSeguro Digital Ltd. (b) 5,681 247,010 
Shenzhou International Group Holdings Ltd. 28,700 395,851 
Tencent Holdings Ltd. 51,800 2,413,512 
TOTAL CAYMAN ISLANDS  4,487,673 
Chile - 0.5%   
Banco de Chile 3,565,200 515,930 
China - 4.1%   
AVIC Jonhon OptronicTechnology Co. Ltd. 51,950 277,171 
China Life Insurance Co. Ltd. (H Shares) 152,000 387,170 
China Merchants Bank Co. Ltd. (H Shares) 159,500 790,147 
China Petroleum & Chemical Corp. (H Shares) 590,000 378,786 
Haier Smart Home Co. Ltd. (A Shares) 259,200 628,702 
Industrial & Commercial Bank of China Ltd. (H Shares) 1,553,000 1,042,912 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 14,500 170,894 
Shenzhen Inovance Technology Co. Ltd. (A Shares) 77,700 279,493 
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares) 14,080 22,032 
TOTAL CHINA  3,977,307 
Denmark - 0.4%   
A.P. Moller - Maersk A/S Series B 80 89,828 
Ambu A/S Series B 1,600 23,429 
Jyske Bank A/S (Reg.) 2,554 81,514 
Netcompany Group A/S (a)(b) 860 33,784 
ORSTED A/S (a) 1,400 127,884 
SimCorp A/S 520 47,060 
Spar Nord Bank A/S 2,831 24,928 
TOTAL DENMARK  428,427 
Finland - 0.3%   
Sampo Oyj (A Shares) 4,353 181,523 
Tikkurila Oyj 4,880 76,062 
TOTAL FINLAND  257,585 
France - 6.4%   
ALTEN 600 74,457 
Atos Origin SA 1,829 147,925 
AXA SA 21,306 536,661 
Bouygues SA 4,279 153,379 
Capgemini SA 2,102 268,177 
Edenred SA 6,300 316,903 
Elis SA 5,551 103,112 
Laurent-Perrier Group SA 259 25,517 
Legrand SA 3,600 254,495 
LVMH Moet Hennessy Louis Vuitton SE 1,450 598,936 
Natixis SA 38,800 156,430 
Safran SA 3,600 517,478 
Sanofi SA 6,428 535,657 
Societe Generale Series A (c) 6,529 159,926 
SR Teleperformance SA 1,200 251,865 
Thales SA 1,200 135,563 
Total SA 18,215 944,087 
Vetoquinol SA 600 39,852 
VINCI SA 5,900 606,896 
Vivendi SA 9,952 277,405 
Worldline SA (a)(b) 1,858 133,281 
TOTAL FRANCE  6,238,002 
Germany - 6.2%   
Bayer AG 6,875 445,287 
CompuGroup Medical AG 1,846 142,944 
Continental AG 1,200 164,525 
CTS Eventim AG 1,062 53,186 
Deutsche Borse AG 2,200 305,409 
Hannover Reuck SE 2,200 345,096 
HeidelbergCement Finance AG 3,900 283,301 
Linde PLC 5,452 1,048,644 
MTU Aero Engines Holdings AG 2,100 526,545 
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1,000 241,105 
Nexus AG 1,420 50,302 
Rheinmetall AG 1,400 160,249 
RWE AG 8,000 216,618 
SAP SE 11,333 1,385,301 
Vonovia SE 12,915 632,781 
WashTec AG 450 23,911 
TOTAL GERMANY  6,025,204 
Greece - 0.0%   
Motor Oil (HELLAS) Corinth Refineries SA 500 12,398 
Hong Kong - 2.6%   
AIA Group Ltd. 104,000 1,064,520 
China Resources Beer Holdings Co. Ltd. 142,000 665,335 
CNOOC Ltd. sponsored ADR 2,289 378,440 
Hong Kong Exchanges and Clearing Ltd. 10,900 366,309 
TOTAL HONG KONG  2,474,604 
India - 3.5%   
Embassy Office Parks (REIT) (b) 5,600 30,225 
Housing Development Finance Corp. Ltd. 37,994 1,166,569 
Infosys Ltd. sponsored ADR 45,771 518,128 
Jyothy Laboratories Ltd. 5,588 12,417 
Larsen & Toubro Ltd. 24,400 489,456 
Shree Cement Ltd. 1,300 379,522 
Solar Industries India Ltd. 15,300 247,609 
State Bank of India (b) 122,900 589,877 
TOTAL INDIA  3,433,803 
Indonesia - 0.7%   
PT Bank Mandiri (Persero) Tbk 910,200 512,073 
PT Bank Rakyat Indonesia Tbk 429,300 136,036 
TOTAL INDONESIA  648,109 
Ireland - 0.9%   
CRH PLC 9,418 313,435 
CRH PLC sponsored ADR 15,229 508,039 
FBD Holdings PLC 1,972 20,826 
TOTAL IRELAND  842,300 
Israel - 0.7%   
Azrieli Group 232 16,332 
Elbit Systems Ltd. 563 89,855 
Elbit Systems Ltd. (Israel) 2,800 450,367 
Ituran Location & Control Ltd. 1,861 54,304 
Strauss Group Ltd. 2,159 65,420 
Tel Aviv Stock Exchange Ltd. 4,100 8,290 
TOTAL ISRAEL  684,568 
Italy - 1.5%   
Assicurazioni Generali SpA 13,300 247,937 
Enel SpA 85,500 584,874 
Interpump Group SpA 8,091 228,218 
Intesa Sanpaolo SpA 104,000 225,566 
Mediobanca SpA 14,134 141,662 
TOTAL ITALY  1,428,257 
Japan - 13.5%   
Ai Holdings Corp. 1,100 17,270 
Aoki Super Co. Ltd. 1,000 24,175 
Artnature, Inc. 2,100 12,682 
Aucnet, Inc. 1,300 14,818 
Azbil Corp. 15,100 362,961 
Broadleaf Co. Ltd. 6,900 36,533 
Central Automotive Products Ltd. 2,400 43,989 
Coca-Cola West Co. Ltd. 900 22,279 
Daiichikosho Co. Ltd. 1,300 53,953 
Daikokutenbussan Co. Ltd. 700 21,073 
DENSO Corp. 10,600 449,922 
East Japan Railway Co. 2,500 229,188 
Fanuc Corp. 1,700 302,135 
Funai Soken Holdings, Inc. 1,150 26,459 
GCA Savvian Group Corp. 2,200 14,378 
Goldcrest Co. Ltd. 2,760 50,055 
Hitachi High-Technologies Corp. 3,300 168,352 
Hoya Corp. 10,300 795,767 
Idemitsu Kosan Co. Ltd. 6,000 165,344 
Itochu Corp. 20,500 390,335 
Japan Tobacco, Inc. 8,720 192,134 
Kao Corp. 3,000 218,942 
Keyence Corp. 1,442 836,782 
Kobayashi Pharmaceutical Co. Ltd. 500 35,849 
Komatsu Ltd. 7,500 167,703 
Koshidaka Holdings Co. Ltd. 5,500 78,463 
Kusuri No Aoki Holdings Co. Ltd. 600 39,985 
Lasertec Corp. 2,500 121,105 
Makita Corp. 2,600 85,918 
Medikit Co. Ltd. 600 33,588 
Minebea Mitsumi, Inc. 15,700 267,960 
Miroku Jyoho Service Co., Ltd. 700 22,102 
Misumi Group, Inc. 16,700 379,776 
Mitsubishi Estate Co. Ltd. 8,900 163,822 
Mitsubishi UFJ Financial Group, Inc. 96,200 475,132 
Mitsuboshi Belting Ltd. 1,500 27,659 
Mitsui Fudosan Co. Ltd. 8,800 198,653 
Nabtesco Corp. 6,700 182,358 
Nagaileben Co. Ltd. 2,900 60,804 
Nihon Parkerizing Co. Ltd. 7,500 84,038 
Nintendo Co. Ltd. 300 110,368 
NS Tool Co. Ltd. 1,200 22,381 
OBIC Co. Ltd. 3,400 364,721 
Oracle Corp. Japan 2,400 200,313 
ORIX Corp. 23,300 334,433 
OSG Corp. 11,800 236,130 
Paramount Bed Holdings Co. Ltd. 1,600 61,403 
ProNexus, Inc. 1,700 16,986 
Recruit Holdings Co. Ltd. 4,300 145,609 
San-Ai Oil Co. Ltd. 5,000 48,304 
Shin-Etsu Chemical Co. Ltd. 3,300 335,992 
Shinsei Bank Ltd. 14,700 222,043 
SHO-BOND Holdings Co. Ltd. 10,480 360,765 
Shoei Co. Ltd. 2,000 83,739 
SK Kaken Co. Ltd. 20 9,100 
SoftBank Corp. 3,200 163,386 
Software Service, Inc. 500 48,120 
Sony Corp. 2,100 119,435 
Sony Financial Holdings, Inc. 12,800 310,105 
Subaru Corp. 700 16,314 
Sumitomo Mitsui Financial Group, Inc. 12,800 447,613 
Suzuki Motor Corp. 2,200 86,039 
Takeda Pharmaceutical Co. Ltd. 10,161 349,700 
Techno Medica Co. Ltd. 500 10,047 
The Monogatari Corp. 280 23,885 
TKC Corp. 700 29,212 
Tocalo Co. Ltd. 2,500 18,844 
Tokio Marine Holdings, Inc. 8,900 472,421 
Tokyo Electron Ltd. 900 152,435 
Toyota Motor Corp. 10,100 652,594 
USS Co. Ltd. 31,400 625,460 
Welcia Holdings Co. Ltd. 500 23,348 
Workman Co. Ltd. 800 36,621 
Yamada Consulting Group Co. Ltd. 1,100 19,990 
Yamato Kogyo Co. Ltd. 700 18,287 
TOTAL JAPAN  13,050,584 
Kenya - 0.1%   
Safaricom Ltd. 466,900 122,951 
Korea (South) - 2.7%   
BGF Retail Co. Ltd. 735 125,759 
Leeno Industrial, Inc. 264 12,259 
Samsung Electronics Co. Ltd. 52,927 1,996,276 
Shinhan Financial Group Co. Ltd. 13,530 493,529 
TOTAL KOREA (SOUTH)  2,627,823 
Mexico - 0.5%   
Grupo Financiero Banorte S.A.B. de CV Series O 94,700 476,768 
Netherlands - 2.3%   
Aalberts Industries NV 2,000 80,722 
AerCap Holdings NV (b) 4,000 218,120 
ASML Holding NV (Netherlands) 4,800 1,069,556 
ING Groep NV (Certificaten Van Aandelen) 29,476 327,058 
Koninklijke Philips Electronics NV 5,847 274,287 
Takeaway.com Holding BV (a)(b) 350 31,461 
Wolters Kluwer NV 3,200 232,240 
TOTAL NETHERLANDS  2,233,444 
New Zealand - 0.2%   
Auckland International Airport Ltd. 26,837 163,492 
Norway - 0.3%   
Adevinta ASA Class B 9,533 106,020 
Kongsberg Gruppen ASA 4,200 53,301 
Schibsted ASA (B Shares) 5,833 150,685 
Skandiabanken ASA (a) 3,000 23,033 
TOTAL NORWAY  333,039 
Peru - 0.6%   
Compania de Minas Buenaventura SA sponsored ADR 39,993 609,493 
Philippines - 0.4%   
Ayala Land, Inc. 379,000 369,101 
Jollibee Food Corp. 5,250 26,646 
TOTAL PHILIPPINES  395,747 
Portugal - 0.2%   
Galp Energia SGPS SA Class B 10,992 171,125 
Russia - 0.8%   
Lukoil PJSC sponsored ADR 3,100 255,192 
Sberbank of Russia sponsored ADR 33,800 505,310 
TOTAL RUSSIA  760,502 
Singapore - 0.3%   
United Overseas Bank Ltd. 14,700 280,076 
South Africa - 2.1%   
Clicks Group Ltd. 18,099 257,050 
Impala Platinum Holdings Ltd. (b) 75,692 403,805 
Mr Price Group Ltd. 18,241 223,913 
Naspers Ltd. Class N 4,753 1,158,593 
TOTAL SOUTH AFRICA  2,043,361 
Spain - 2.0%   
Amadeus IT Holding SA Class A 8,500 671,462 
Banco Santander SA (Spain) 138,630 591,711 
CaixaBank SA 8,606 21,330 
Cellnex Telecom SA (a) 3,600 135,058 
Masmovil Ibercom SA (b) 6,005 136,274 
Merlin Properties Socimi SA 7,300 99,802 
Prosegur Compania de Seguridad SA (Reg.) 43,176 201,603 
Unicaja Banco SA (a) 60,300 47,728 
TOTAL SPAIN  1,904,968 
Sweden - 2.7%   
Addlife AB 1,814 49,005 
AddTech AB (B Shares) 2,800 73,324 
ASSA ABLOY AB (B Shares) 31,100 713,345 
Atlas Copco AB (A Shares) 13,600 418,083 
Epiroc AB Class A 18,900 207,560 
Fagerhult AB 15,279 94,888 
Investor AB (B Shares) 8,355 398,325 
Lagercrantz Group AB (B Shares) 4,300 53,765 
Loomis AB (B Shares) 3,600 124,083 
Saab AB (B Shares) 1,500 47,339 
Swedbank AB (A Shares) 9,300 126,645 
Telefonaktiebolaget LM Ericsson (B Shares) 36,600 320,223 
TOTAL SWEDEN  2,626,585 
Switzerland - 4.7%   
Nestle SA (Reg. S) 16,766 1,778,658 
Roche Holding AG (participation certificate) 3,724 996,785 
Schindler Holding AG:   
(participation certificate) 1,599 370,107 
(Reg.) 180 40,577 
Swiss Life Holding AG 624 302,102 
Tecan Group AG 240 61,053 
UBS Group AG 42,589 475,719 
Zurich Insurance Group Ltd. 1,622 565,103 
TOTAL SWITZERLAND  4,590,104 
Taiwan - 2.5%   
Addcn Technology Co. Ltd. 3,772 31,578 
Sporton International, Inc. 45,000 299,148 
Taiwan Semiconductor Manufacturing Co. Ltd. 190,035 1,560,785 
Unified-President Enterprises Corp. 198,000 511,899 
TOTAL TAIWAN  2,403,410 
Thailand - 0.8%   
Siam Cement PCL (For. Reg.) 52,900 743,308 
Turkey - 0.5%   
Tupras Turkiye Petrol Rafinerileri A/S 17,900 449,023 
United Kingdom - 8.2%   
Alliance Pharma PLC 30,514 26,273 
Ascential PLC (a) 5,762 27,903 
AstraZeneca PLC (United Kingdom) 4,289 370,543 
Aviva PLC 46,809 229,814 
Avon Rubber PLC 2,200 35,851 
BAE Systems PLC 18,100 120,252 
Beazley PLC 9,700 68,005 
BHP Billiton PLC 42,665 1,017,285 
BP PLC 168,701 1,116,252 
British American Tobacco PLC (United Kingdom) 6,273 223,523 
Cineworld Group PLC 6,200 19,234 
Dechra Pharmaceuticals PLC 2,300 82,401 
DP Poland PLC (b) 52,800 4,655 
Elementis PLC 54,935 100,878 
Great Portland Estates PLC 3,106 24,998 
Hilton Food Group PLC 2,654 30,210 
Howden Joinery Group PLC 3,800 25,648 
Imperial Tobacco Group PLC 6,747 171,895 
Informa PLC 46,426 493,449 
InterContinental Hotel Group PLC ADR 8,725 612,059 
ITE Group PLC 30,100 26,831 
Lloyds Banking Group PLC 615,051 397,867 
Micro Focus International PLC 6,682 140,750 
Network International Holdings PLC (a) 3,700 27,582 
Prudential PLC 22,040 453,456 
Rightmove PLC 28,800 185,065 
Royal Dutch Shell PLC Class B sponsored ADR 9,200 583,924 
RSA Insurance Group PLC 33,500 228,385 
Shaftesbury PLC 2,504 23,950 
Spectris PLC 9,570 296,305 
Spirax-Sarco Engineering PLC 1,299 142,095 
Standard Chartered PLC (United Kingdom) 40,138 330,358 
Standard Life PLC 54,264 197,179 
The Weir Group PLC 5,104 92,918 
Topps Tiles PLC 16,600 13,970 
Ultra Electronics Holdings PLC 1,301 31,058 
TOTAL UNITED KINGDOM  7,972,821 
United States of America - 7.0%   
Alphabet, Inc. Class A (b) 208 253,386 
Autoliv, Inc. 2,974 214,574 
Berkshire Hathaway, Inc. Class B (b) 1,416 290,889 
Black Knight, Inc. (b) 3,800 240,616 
ConocoPhillips Co. 2,400 141,792 
Lam Research Corp. 600 125,166 
Marsh & McLennan Companies, Inc. 4,100 405,080 
Martin Marietta Materials, Inc. 1,630 403,833 
MasterCard, Inc. Class A 3,280 893,046 
MercadoLibre, Inc. (b) 1,034 642,548 
Moody's Corp. 1,700 364,378 
Morningstar, Inc. 200 30,396 
MSCI, Inc. 1,800 409,032 
PayPal Holdings, Inc. (b) 2,000 220,800 
PriceSmart, Inc. 1,625 99,125 
ResMed, Inc. 3,360 432,432 
S&P Global, Inc. 1,600 391,920 
Sherwin-Williams Co. 840 430,954 
Visa, Inc. Class A 4,657 828,946 
TOTAL UNITED STATES OF AMERICA  6,818,913 
TOTAL COMMON STOCKS   
(Cost $83,682,281)  94,357,185 
Nonconvertible Preferred Stocks - 0.8%   
Brazil - 0.5%   
Itau Unibanco Holding SA 26,655 243,198 
Petroleo Brasileiro SA - Petrobras sponsored ADR 15,546 233,967 
TOTAL BRAZIL  477,165 
Germany - 0.3%   
Porsche Automobil Holding SE (Germany) 4,476 293,385 
Sartorius AG (non-vtg.) 250 51,309 
TOTAL GERMANY  344,694 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $774,849)  821,859 
Money Market Funds - 2.3%   
Fidelity Cash Central Fund 2.43% (d) 2,168,535 2,168,968 
Fidelity Securities Lending Cash Central Fund 2.43% (d)(e) 8,724 8,725 
TOTAL MONEY MARKET FUNDS   
(Cost $2,177,680)  2,177,693 
TOTAL INVESTMENT IN SECURITIES - 100.5%   
(Cost $86,634,810)  97,356,737 
NET OTHER ASSETS (LIABILITIES) - (0.5)%  (528,595) 
NET ASSETS - 100%  $96,828,142 

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

Legend

 (a) 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 $625,889 or 0.6% of net assets.

 (b) Non-income producing

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

 (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 $19,007 
Fidelity Securities Lending Cash Central Fund 10,733 
Total $29,740 

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 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. 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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