NPORT-EX 2 QTLY_1135_20210731.htm

Quarterly Holdings Report
for

Fidelity® International Small Cap Fund

July 31, 2021







ISC-QTLY-0921
1.804839.117





Schedule of Investments July 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.8%   
 Shares Value 
Australia - 3.4%   
Flight Centre Travel Group Ltd. (a) 1,359,092 $15,010,413 
GUD Holdings Ltd. 1,858,343 16,010,366 
Imdex Ltd. 8,913,807 13,736,934 
Inghams Group Ltd. 7,930,903 22,116,354 
Nanosonics Ltd. (a) 1,887,880 7,356,584 
National Storage REIT unit 11,686,947 18,267,873 
Servcorp Ltd. (b) 7,066,585 17,165,042 
SomnoMed Ltd. (a) 3,948,596 6,751,588 
TOTAL AUSTRALIA  116,415,154 
Austria - 1.5%   
Mayr-Melnhof Karton AG 108,700 23,132,800 
Wienerberger AG 636,900 26,035,310 
TOTAL AUSTRIA  49,168,110 
Belgium - 1.3%   
Econocom Group SA 5,546,300 24,113,129 
Fagron NV 1,028,900 21,347,116 
TOTAL BELGIUM  45,460,245 
Bermuda - 0.9%   
Hiscox Ltd. (a) 2,414,320 29,411,150 
Brazil - 1.3%   
Hypermarcas SA 3,417,600 23,393,163 
YDUQS Participacoes SA 4,065,800 22,061,059 
TOTAL BRAZIL  45,454,222 
Canada - 5.5%   
CCL Industries, Inc. Class B 358,000 20,531,340 
Computer Modelling Group Ltd. (c) 1,713,513 5,960,762 
ECN Capital Corp. 2,272,700 19,109,188 
Genesis Land Development Corp. (b) 2,969,722 6,236,511 
Lassonde Industries, Inc. Class A (sub. vtg.) 162,199 22,435,622 
McCoy Global, Inc. (a)(c) 1,328,570 766,728 
North West Co., Inc. 651,700 18,993,116 
Open Text Corp. 677,796 35,204,537 
Richelieu Hardware Ltd. 290,500 10,131,176 
TFI International, Inc. (Canada) 131,800 14,754,078 
Total Energy Services, Inc. (a) 610,400 1,966,823 
VerticalScope Holdings, Inc. 416,222 9,731,641 
Western Forest Products, Inc. 13,914,875 21,525,897 
TOTAL CANADA  187,347,419 
Cayman Islands - 2.3%   
ASM Pacific Technology Ltd. 1,527,600 19,657,322 
Best Pacific International Holdings Ltd. 22,196,000 6,569,272 
China Metal Recycling (Holdings) Ltd. (a)(d) 436,800 
Impro Precision Industries Ltd. (e) 17,321,300 4,413,269 
Medlive Technology Co. Ltd. 236,000 837,722 
Pico Far East Holdings Ltd. 56,047,231 9,375,884 
Precision Tsugami China Corp. Ltd. 7,838,453 10,994,401 
Value Partners Group Ltd. 19,422,000 11,146,628 
Xingda International Holdings Ltd. 72,234,631 15,151,226 
TOTAL CAYMAN ISLANDS  78,145,725 
China - 1.8%   
Qingdao Port International Co. Ltd. (H Shares) (e) 29,452,000 15,159,661 
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares) 3,932,257 16,431,442 
TravelSky Technology Ltd. (H Shares) 9,265,000 15,737,439 
Weifu High-Technology Group Co. Ltd. (B Shares) 7,043,386 13,060,511 
TOTAL CHINA  60,389,053 
Denmark - 0.6%   
Spar Nord Bank A/S 1,755,226 21,104,137 
Finland - 0.7%   
Kamux Corp. 734,800 15,166,823 
Nanoform Finland PLC (a) 778,576 6,557,459 
Rovio Entertainment OYJ (e) 295,694 2,504,476 
TOTAL FINLAND  24,228,758 
France - 3.6%   
Altarea SCA 99,557 22,320,804 
Elior SA (a)(e) 2,387,300 16,354,423 
Lectra 420,654 17,140,678 
Maisons du Monde SA (e) 921,307 21,082,049 
The Vicat Group 452,492 22,812,667 
Thermador Groupe SA 209,466 23,357,030 
TOTAL FRANCE  123,067,651 
Germany - 4.3%   
DIC Asset AG 1,170,700 21,164,442 
DWS Group GmbH & Co. KGaA (e) 265,900 12,547,562 
JOST Werke AG (e) 455,172 27,807,311 
Rheinmetall AG 247,525 23,772,004 
Takkt AG 1,509,912 24,825,105 
Talanx AG 846,467 36,007,796 
TOTAL GERMANY  146,124,220 
Greece - 0.8%   
Mytilineos SA 1,472,216 27,313,950 
Hong Kong - 1.3%   
Dah Sing Banking Group Ltd. 5,648,800 5,815,150 
Far East Horizon Ltd. 16,503,000 17,604,842 
Magnificent Hotel Investment Ltd. (a) 316,412,000 4,763,800 
Sino Land Ltd. 10,449,979 16,002,104 
TOTAL HONG KONG  44,185,896 
India - 3.6%   
Barbeque Nation Hospitality Ltd. (a) 937,267 11,066,013 
Cyient Ltd. 1,324,066 17,573,237 
Embassy Office Parks (REIT) 4,288,400 20,869,346 
IndusInd Bank Ltd. (a) 1,833,100 24,188,680 
L&T Technology Services Ltd. (e) 230,090 11,470,533 
Max Healthcare Institute Ltd. (a) 445,600 1,776,862 
Oberoi Realty Ltd. (a) 1,959,800 17,725,417 
Shriram Transport Finance Co. Ltd. 835,452 15,621,565 
TOTAL INDIA  120,291,653 
Indonesia - 0.6%   
PT ACE Hardware Indonesia Tbk 98,215,000 8,964,135 
PT Selamat Sempurna Tbk 130,008,300 12,180,553 
TOTAL INDONESIA  21,144,688 
Ireland - 2.2%   
Adient PLC (a) 439,700 18,524,561 
Dalata Hotel Group PLC (a) 2,860,609 13,098,514 
Irish Residential Properties REIT PLC 12,713,900 23,226,070 
Mincon Group PLC (b) 12,061,144 18,170,566 
TOTAL IRELAND  73,019,711 
Italy - 2.5%   
Banca Generali SpA 363,800 15,108,837 
BFF Bank SpA (e) 2,448,400 25,587,892 
MARR SpA 25,200 585,315 
MARR SpA 960,627 22,312,267 
Recordati SpA 314,911 19,492,526 
TOTAL ITALY  83,086,837 
Japan - 20.9%   
Aeon Delight Co. Ltd. 508,500 16,663,393 
Amano Corp. 721,650 17,668,765 
Arata Corp. 678,500 26,347,113 
Arcland Sakamoto Co. Ltd. 1,741,900 23,928,201 
Central Automotive Products Ltd. 374,100 11,389,581 
Daiichikosho Co. Ltd. 415,500 14,486,919 
DaikyoNishikawa Corp. 2,496,595 15,998,417 
Daiwa Industries Ltd. 1,699,200 17,641,756 
Dexerials Corp. 1,202,300 27,562,869 
Dip Corp. 677,300 19,725,386 
GMO Internet, Inc. 609,800 16,014,163 
Inaba Denki Sangyo Co. Ltd. 544,800 13,234,511 
Isuzu Motors Ltd. 2,322,700 30,984,100 
Jm Holdings Co. Ltd. 220,000 4,189,235 
LIXIL Group Corp. 737,500 19,992,936 
Maruwa Ceramic Co. Ltd. 185,100 18,036,726 
Meitec Corp. 262,800 14,756,374 
Minebea Mitsumi, Inc. 793,800 21,433,321 
Mitani Shoji Co. Ltd. 216,100 16,211,686 
Nihon Parkerizing Co. Ltd. 2,001,500 20,470,197 
Nishimoto Co. Ltd. 554,300 13,520,868 
NOF Corp. 174,100 8,807,757 
NSD Co. Ltd. 1,181,500 20,182,590 
PALTAC Corp. 329,100 15,209,307 
Paramount Bed Holdings Co. Ltd. 613,400 10,914,332 
Park24 Co. Ltd. (a) 1,000,300 18,737,674 
Persol Holdings Co. Ltd. 1,895,500 37,925,550 
Poletowin Pitcrew Holdings, Inc. 488,900 4,608,018 
Renesas Electronics Corp. (a) 3,422,100 36,839,707 
Roland Corp. 448,400 21,254,091 
S Foods, Inc. 762,823 23,711,102 
San-Ai Oil Co. Ltd. 1,806,900 22,366,986 
Shinsei Bank Ltd. 1,127,000 14,906,093 
Ship Healthcare Holdings, Inc. 723,100 18,165,659 
Sugi Holdings Co. Ltd. 338,600 24,907,725 
TIS, Inc. 868,400 22,441,220 
TKC Corp. 286,800 8,483,351 
Tsuruha Holdings, Inc. 144,400 16,992,881 
TOTAL JAPAN  706,710,560 
Korea (South) - 1.5%   
Hyundai Fire & Marine Insurance Co. Ltd. 707,396 15,924,326 
Soulbrain Co. Ltd. 70,000 20,633,957 
Vitzrocell Co. Ltd. 975,300 14,086,839 
TOTAL KOREA (SOUTH)  50,645,122 
Luxembourg - 1.0%   
B&M European Value Retail SA 1,674,300 12,869,842 
Stabilus SA 242,400 19,222,517 
TOTAL LUXEMBOURG  32,092,359 
Mexico - 2.1%   
Genomma Lab Internacional SA de CV (a) 15,425,548 14,986,755 
Gruma S.A.B. de CV Series B 1,655,700 17,914,206 
Grupo Cementos de Chihuahua S.A.B. de CV 2,496,300 20,301,463 
Qualitas Controladora S.A.B. de CV 3,290,102 16,013,965 
TOTAL MEXICO  69,216,389 
Netherlands - 3.9%   
AerCap Holdings NV (a) 433,672 22,984,616 
Amsterdam Commodities NV 914,999 26,104,293 
Arcadis NV (c) 500,650 22,164,201 
Intertrust NV (a)(e) 753,700 12,445,547 
RHI Magnesita NV 851,691 44,796,897 
Van Lanschot NV (Bearer) 174,141 4,472,344 
TOTAL NETHERLANDS  132,967,898 
New Zealand - 0.4%   
EBOS Group Ltd. 692,210 14,959,789 
Norway - 0.7%   
Europris ASA (e) 2,237,000 15,065,678 
Fjordkraft Holding ASA (e) 1,699,600 9,676,548 
TOTAL NORWAY  24,742,226 
Panama - 0.4%   
Intercorp Financial Services, Inc. 614,400 12,503,040 
Philippines - 1.5%   
Century Pacific Food, Inc. 41,034,700 20,539,944 
Jollibee Food Corp. 2,953,000 11,233,757 
Robinsons Land Corp. 57,699,400 18,599,666 
TOTAL PHILIPPINES  50,373,367 
Romania - 0.5%   
Banca Transilvania SA 24,431,969 16,504,503 
Singapore - 2.3%   
Boustead Singapore Ltd. 12,178,312 10,695,739 
Hour Glass Ltd. 13,304,580 15,121,630 
HRnetgroup Ltd. 29,852,200 17,515,406 
Mapletree Industrial (REIT) 8,981,256 19,885,433 
Wing Tai Holdings Ltd. 9,410,300 12,709,583 
TOTAL SINGAPORE  75,927,791 
Spain - 3.0%   
Cie Automotive SA 686,300 20,450,779 
Compania de Distribucion Integral Logista Holdings SA 1,093,714 23,574,089 
Grupo Catalana Occidente SA 486,122 18,193,693 
Indra Sistemas SA (a) 1,667,977 17,451,585 
Prosegur Compania de Seguridad SA (Reg.) 6,396,381 21,852,596 
TOTAL SPAIN  101,522,742 
Sweden - 2.5%   
Dustin Group AB (e) 2,412,879 28,015,340 
Granges AB 1,161,745 15,357,858 
HEXPOL AB (B Shares) 1,559,700 21,234,706 
John Mattson Fastighetsforetag (a) 763,000 15,333,744 
Nordnet AB 376,000 6,066,911 
TOTAL SWEDEN  86,008,559 
Taiwan - 3.1%   
International Games Systems Co. Ltd. 842,000 26,300,832 
Lumax International Corp. Ltd. 5,041,436 12,387,944 
Sporton International, Inc. 1,302,012 11,279,499 
Test Research, Inc. 7,690,000 15,877,280 
Tripod Technology Corp. 3,781,000 16,274,029 
Yageo Corp. 783,000 15,805,759 
Yung Chi Paint & Varnish Manufacturing Co. Ltd. 2,538,000 6,953,227 
TOTAL TAIWAN  104,878,570 
Thailand - 0.5%   
Star Petroleum Refining PCL (a) 67,656,600 17,295,053 
United Kingdom - 12.6%   
Alliance Pharma PLC 17,719,344 25,615,084 
Anhui Heli Co. Ltd. ELS (UBS AG London Branch Bank Warrant Programme) Class A warrants 1/21/22 (a)(e) 11,961,356 18,141,669 
Biffa PLC (a)(e) 4,034,325 20,047,570 
Bodycote PLC 1,283,218 16,097,649 
Bridgepoint Group Ltd. 500,300 3,372,772 
Bytes Technology Group PLC 1,436,100 9,629,568 
Grainger Trust PLC 5,247,828 22,131,455 
Hyve Group PLC (a) 7,233,042 13,220,916 
Informa PLC (a) 2,388,986 16,437,418 
J.D. Weatherspoon PLC (a) 1,292,600 20,392,704 
Jet2 PLC (a) 990,600 17,094,636 
John Wood Group PLC (a) 7,628,500 23,115,881 
Luxfer Holdings PLC sponsored 1,078,459 22,485,870 
Mears Group PLC (a)(b) 7,921,714 20,921,247 
On The Beach Group PLC (a)(e) 3,196,736 14,441,255 
Reach PLC 2,589,900 13,841,850 
Savills PLC 1,123,800 17,932,701 
Stock Spirits Group PLC 3,469,810 12,395,202 
Ten Entertainment Group PLC (a)(b) 5,588,511 19,497,756 
Ultra Electronics Holdings PLC 1,016,581 44,793,609 
Victrex PLC 62,200 2,291,137 
Vistry Group PLC 1,236,857 20,501,832 
Volution Group PLC 1,502,542 9,868,320 
WH Smith PLC (a) 885,000 19,989,938 
TOTAL UNITED KINGDOM  424,258,039 
United States of America - 0.7%   
Adtalem Global Education, Inc. (a) 546,200 19,848,908 
Dlocal Ltd. 76,500 3,453,210 
TOTAL UNITED STATES OF AMERICA  23,302,118 
TOTAL COMMON STOCKS   
(Cost $2,618,751,593)  3,239,266,704 
Money Market Funds - 4.1%   
Fidelity Cash Central Fund 0.06% (f) 129,829,593 129,855,559 
Fidelity Securities Lending Cash Central Fund 0.06% (f)(g) 8,300,863 8,301,693 
TOTAL MONEY MARKET FUNDS   
(Cost $138,152,493)  138,157,252 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $2,756,904,086)  3,377,423,956 
NET OTHER ASSETS (LIABILITIES) - 0.1%  1,892,578 
NET ASSETS - 100%  $3,379,316,534 

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

Legend

 (a) Non-income producing

 (b) Affiliated company

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

 (d) Level 3 security

 (e) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $254,760,783 or 7.5% 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.

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 $59,637 
Fidelity Securities Lending Cash Central Fund 38,616 
Total $98,253 

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.

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund Value, beginning of period Purchases Sales Proceeds Realized Gain/Loss Change in Unrealized appreciation (depreciation) Value, end of period % ownership, end of period 
Fidelity Cash Central Fund 0.06% $99,965,498 $486,344,081 $456,447,970 $(6,050) $-- $129,855,559 0.2% 
Fidelity Securities Lending Cash Central Fund 0.06% 9,809,941 56,145,418 57,653,666 -- -- 8,301,693 0.0% 
Total $109,775,439 $542,489,499 $514,101,636 $(6,050) $-- $138,157,252  

Other Affiliated Issuers

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

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Genesis Land Development Corp. $3,120,627 $-- $-- $293,303 $-- $3,115,884 $6,236,511 
McColl's Retail Group PLC 2,550,109 -- 4,264,471 -- (14,598,286) 16,312,648 -- 
Mears Group PLC 9,949,193 1,297,822 -- -- -- 9,674,232 20,921,247 
Mincon Group PLC 12,191,853 245,769 -- 304,756 -- 5,732,944 18,170,566 
Servcorp Ltd. 10,031,922 3,173,501 -- 422,117 -- 3,959,619 17,165,042 
Ten Entertainment Group PLC 9,701,487 -- -- -- -- 9,796,269 19,497,756 
Total $47,545,191 $4,717,092 $4,264,471 $1,020,176 $(14,598,286) $48,591,596 $81,991,122 

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 any open-end mutual 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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