NPORT-EX 2 QTLY_94_20200131.htm

Quarterly Holdings Report
for

Fidelity® Overseas Fund

January 31, 2020







OVE-QTLY-0320
1.813070.115





Schedule of Investments January 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.8%   
 Shares Value 
Austria - 0.5%   
Erste Group Bank AG 1,055,900 $38,831,882 
Bailiwick of Jersey - 1.2%   
Experian PLC 1,485,979 51,723,933 
Sanne Group PLC 4,917,454 39,025,923 
TOTAL BAILIWICK OF JERSEY  90,749,856 
Belgium - 1.1%   
KBC Groep NV 1,102,154 80,992,507 
Bermuda - 1.9%   
Credicorp Ltd. (United States) 187,100 38,651,118 
Hiscox Ltd. 2,922,900 50,677,722 
IHS Markit Ltd. 768,300 60,588,138 
TOTAL BERMUDA  149,916,978 
Brazil - 0.7%   
IRB Brasil Resseguros SA 4,850,800 50,777,884 
Canada - 1.1%   
Constellation Software, Inc. 80,600 84,720,138 
Cayman Islands - 0.5%   
Alibaba Group Holding Ltd. sponsored ADR (a) 192,000 39,665,280 
Denmark - 1.3%   
DSV A/S 772,800 84,139,877 
Netcompany Group A/S (a)(b) 342,795 15,557,772 
TOTAL DENMARK  99,697,649 
France - 11.3%   
ALTEN 409,935 50,737,647 
Amundi SA (b) 574,006 46,631,049 
Capgemini SA 665,633 82,939,049 
Danone SA 911,600 72,950,309 
Edenred SA 1,049,179 56,771,652 
Elior SA (b) 1,096,000 15,400,623 
Kering SA 89,932 55,355,192 
Legrand SA 608,400 48,851,612 
LVMH Moet Hennessy Louis Vuitton SE 323,663 140,946,280 
Sanofi SA 1,079,000 104,057,062 
SR Teleperformance SA 368,500 92,689,741 
Total SA 2,006,160 97,681,398 
TOTAL FRANCE  865,011,614 
Germany - 7.8%   
adidas AG 245,642 77,860,283 
Bayer AG 779,388 62,550,236 
Deutsche Borse AG 459,300 74,905,309 
Deutsche Post AG 1,480,447 51,842,669 
Hannover Reuck SE 400,300 77,913,702 
MTU Aero Engines Holdings AG 162,400 49,422,107 
SAP SE 984,545 128,218,566 
Vonovia SE 1,284,800 73,439,730 
TOTAL GERMANY  596,152,602 
Hong Kong - 1.7%   
AIA Group Ltd. 13,529,000 134,058,164 
India - 0.9%   
HDFC Bank Ltd. 2,110,500 36,051,344 
Reliance Industries Ltd. 1,779,300 34,998,825 
TOTAL INDIA  71,050,169 
Indonesia - 0.4%   
PT Bank Rakyat Indonesia Tbk 99,138,600 32,230,454 
Ireland - 3.0%   
DCC PLC (United Kingdom) 767,555 62,151,277 
Kerry Group PLC Class A 633,048 80,950,042 
Kingspan Group PLC (Ireland) 779,880 48,133,127 
United Drug PLC (United Kingdom) 3,967,603 39,320,344 
TOTAL IRELAND  230,554,790 
Italy - 1.5%   
FinecoBank SpA 4,137,100 48,520,752 
Recordati SpA 1,514,400 64,880,836 
TOTAL ITALY  113,401,588 
Japan - 14.9%   
A/S One Corp. 160,300 14,526,566 
Astellas Pharma, Inc. 2,524,600 44,610,004 
Elecom Co. Ltd. 649,350 26,180,359 
Hoya Corp. 1,004,200 96,107,377 
Iriso Electronics Co. Ltd. 540,000 20,440,816 
Kao Corp. 917,900 73,209,118 
Keyence Corp. 299,760 100,766,434 
KH Neochem Co. Ltd. 1,419,000 30,540,092 
Koshidaka Holdings Co. Ltd. 1,062,250 14,993,657 
Miroku Jyoho Service Co., Ltd. (c) 933,700 25,772,864 
Nitori Holdings Co. Ltd. 379,700 59,005,784 
NOF Corp. 1,021,600 33,255,357 
Olympus Corp. 3,433,600 55,477,530 
Oracle Corp. Japan 313,800 27,161,772 
ORIX Corp. 2,594,300 43,824,127 
Otsuka Corp. 1,097,600 42,800,761 
PALTAC Corp. 507,800 23,761,226 
Persol Holdings Co., Ltd. 1,843,000 32,949,484 
Recruit Holdings Co. Ltd. 1,989,300 77,535,557 
Relo Group, Inc. 1,080,800 28,861,543 
S Foods, Inc. 604,100 14,526,850 
Shiseido Co. Ltd. 776,700 50,004,424 
SMC Corp. 177,600 76,664,482 
Suzuki Motor Corp. 961,700 44,003,338 
Tsuruha Holdings, Inc. 491,200 60,123,772 
Welcia Holdings Co. Ltd. 440,500 24,189,466 
TOTAL JAPAN  1,141,292,760 
Kenya - 0.4%   
Safaricom Ltd. 101,822,500 30,912,215 
Korea (South) - 0.3%   
LG Chemical Ltd. 78,840 21,907,356 
Mexico - 0.3%   
Grupo Financiero Banorte S.A.B. de CV Series O 3,367,500 20,689,216 
Netherlands - 8.3%   
ASML Holding NV (Netherlands) 412,900 115,875,180 
Euronext NV (b) 295,500 25,677,197 
Heineken NV (Bearer) 686,900 74,900,810 
Imcd NV 931,924 80,668,602 
Koninklijke Philips Electronics NV 2,048,645 93,822,736 
Prosus NV (a) 183,100 13,246,064 
QIAGEN NV (Germany) (a) 773,200 25,862,727 
Unilever NV 2,444,700 142,653,677 
Wolters Kluwer NV 890,400 67,070,873 
TOTAL NETHERLANDS  639,777,866 
New Zealand - 0.5%   
EBOS Group Ltd. 2,422,601 37,185,488 
Norway - 1.6%   
Adevinta ASA Class B 2,146,879 26,188,425 
Equinor ASA 3,100,059 56,335,908 
Schibsted ASA (A Shares) 1,343,100 40,652,432 
TOTAL NORWAY  123,176,765 
South Africa - 0.4%   
Naspers Ltd. Class N 183,100 29,698,184 
Spain - 0.8%   
Amadeus IT Holding SA Class A 790,230 62,066,973 
Sweden - 4.4%   
Addlife AB 898,218 27,337,759 
AddTech AB (B Shares) 1,009,616 30,990,405 
ASSA ABLOY AB (B Shares) 2,629,200 62,407,462 
EQT AB (a) 2,695,500 34,243,593 
Hexagon AB (B Shares) 999,606 54,533,970 
Indutrade AB 2,030,067 73,299,950 
Svenska Handelsbanken AB (A Shares) 5,933,200 58,128,812 
TOTAL SWEDEN  340,941,951 
Switzerland - 10.3%   
Alcon, Inc. (a) 801,900 47,263,986 
Julius Baer Group Ltd. 1,170,159 58,470,112 
Lonza Group AG 224,805 92,470,661 
Nestle SA (Reg. S) 1,760,460 194,165,887 
Roche Holding AG (participation certificate) 573,628 192,434,194 
Sika AG 421,084 75,849,329 
Sonova Holding AG Class B 195,370 49,045,334 
Swiss Re Ltd. 697,340 78,914,099 
TOTAL SWITZERLAND  788,613,602 
Taiwan - 0.8%   
Taiwan Semiconductor Manufacturing Co. Ltd. 6,065,000 62,211,777 
United Kingdom - 13.3%   
Beazley PLC 6,570,600 46,983,124 
Cineworld Group PLC (c) 5,922,439 13,865,890 
Compass Group PLC 3,592,494 88,814,460 
Cranswick PLC 772,061 36,416,774 
Dechra Pharmaceuticals PLC 792,295 29,754,654 
Diageo PLC 3,184,900 125,940,882 
Diploma PLC 1,399,295 35,994,541 
Hilton Food Group PLC 1,974,389 27,531,828 
InterContinental Hotel Group PLC 726,310 44,737,825 
Intertek Group PLC 734,006 55,829,083 
James Fisher and Sons PLC 937,658 24,392,094 
JTC PLC (b) 2,622,500 14,856,318 
London Stock Exchange Group PLC 927,530 95,851,687 
Mondi PLC 2,062,800 42,111,917 
Prudential PLC 3,246,371 57,721,738 
RELX PLC (London Stock Exchange) 3,050,400 81,084,710 
Rentokil Initial PLC 10,233,100 63,104,816 
Smith & Nephew PLC 2,119,700 51,001,930 
Ultra Electronics Holdings PLC 938,894 27,994,899 
Victrex PLC 1,146,309 33,543,615 
Volution Group PLC 8,404,267 26,856,760 
TOTAL UNITED KINGDOM  1,024,389,545 
United States of America - 6.6%   
Alphabet, Inc. Class C (a) 24,193 34,698,326 
Becton, Dickinson & Co. 179,700 49,449,846 
Black Knight, Inc. (a) 660,300 44,187,276 
Boston Scientific Corp. (a) 1,125,400 47,120,498 
Global Payments, Inc. 333,124 65,109,086 
Hologic, Inc. (a) 689,836 36,920,023 
International Flavors & Fragrances, Inc. (c) 264,470 34,674,662 
Marsh & McLennan Companies, Inc. 668,500 74,778,410 
Moody's Corp. 71,100 18,257,769 
NICE Systems Ltd. sponsored ADR (a) 214,197 36,906,143 
Roper Technologies, Inc. 126,400 48,241,824 
S&P Global, Inc. 64,041 18,810,763 
TOTAL UNITED STATES OF AMERICA  509,154,626 
TOTAL COMMON STOCKS   
(Cost $5,784,017,453)  7,509,829,879 
Investment Companies - 0.4%   
United States of America - 0.4%   
iShares MSCI Japan ETF   
(Cost $30,611,930) 580,900 33,546,975 
Money Market Funds - 2.7%   
Fidelity Cash Central Fund 1.58% (d) 182,315,806 182,352,269 
Fidelity Securities Lending Cash Central Fund 1.59% (d)(e) 20,546,826 20,548,881 
TOTAL MONEY MARKET FUNDS   
(Cost $202,895,251)  202,901,150 
TOTAL INVESTMENT IN SECURITIES - 100.9%   
(Cost $6,017,524,634)  7,746,278,004 
NET OTHER ASSETS (LIABILITIES) - (0.9)%  (67,732,005) 
NET ASSETS - 100%  $7,678,545,999 

Security Type Abbreviations

ETF – Exchange-Traded Fund

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 $118,122,959 or 1.5% of net assets.

 (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) 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 $586,774 
Fidelity Securities Lending Cash Central Fund 135,548 
Total $722,322 

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. 

ETFs are valued at their last 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 but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

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.