0001752724-22-068087.txt : 20220322 0001752724-22-068087.hdr.sgml : 20220322 20220322162650 ACCESSION NUMBER: 0001752724-22-068087 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220131 FILED AS OF DATE: 20220322 PERIOD START: 20221031 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: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04008 FILM NUMBER: 22759890 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 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 C000205035 Fidelity Advisor Global Commodity Stock Fund: Class Z FIQRX NPORT-P 1 primary_doc.xml NPORT-P false 0000744822 XXXXXXXX S000024314 C000205035 C000071916 C000071914 C000071918 C000071917 C000071913 Fidelity Investment Trust 811-04008 0000744822 MXNTE4GH7BW81YELH558 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Global Commodity Stock Fund S000024314 KESVHL4LQFROZBX45R97 2022-10-31 2022-01-31 N 823576993.80 735579.86 822841413.94 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 545407.97000000 N TOTALENERGIES SE 529900S21EQ1BO4ESM68 TOTALENERGIES SE N/A 422314.00000000 NS 24015922.89000000 2.918657530252 Long EC CORP FR N 2 N N N EQUINOR ASA OW6OFBNCKXC4US5C7523 EQUINOR ASA N/A 139200.00000000 NS 3837441.40000000 0.466364640256 Long EC CORP NO N 2 N N N PETROLEO BRASILEIRO-PETROBRAS 5493000J801JZRCMFE49 PETROBRAS BRASILEIRO SA N/A 1837100.00000000 NS 12202127.46000000 1.482925780506 Long EC CORP BR N 1 N N N CONOCOPHILLIPS INC WPTL2Z3FIYTHSP5V2253 CONOCOPHILLIPS 20825C104 300900.00000000 NS USD 26665758.00000000 3.240692258343 Long EC CORP US N 1 N N N NICKEL MINES LIMITED 54930007K0WX53TSIK16 NICKEL MINES LIMITED N/A 4845629.00000000 NS 4976945.39000000 0.604848675052 Long EC CORP AU N 2 N N N ALCOA CORP 549300T12EZ1F6PWWU29 ALCOA CORP 013872106 183300.00000000 NS USD 10394943.00000000 1.263298470871 Long EC CORP US N 1 N N N ICL GROUP LTD 529900FQVQD88SHIGM04 ICL GROUP LTD N/A 430400.00000000 NS 3861553.04000000 0.469294930296 Long EC CORP IL N 1 N N N STEEL DYNAMICS INC 549300HGGKEL4FYTTQ83 STEEL DYNAMICS INC 858119100 70900.00000000 NS USD 3936368.00000000 0.478387199928 Long EC CORP US N 1 N N N ANGLO AMERICAN PLC 549300S9XF92D1X8ME43 ANGLO AMERICAN PLC N/A 358146.00000000 NS 15789047.74000000 1.918844563789 Long EC CORP GB N 2 N N N MAGNOLIA OIL and GAS CORPORATION N/A MAGNOLIA OIL and GAS CORPO CL A 559663109 281900.00000000 NS USD 6097497.00000000 0.741029425196 Long EC CORP US N 1 N N N DARLING INGREDIENTS INC L1N0SPPKS7EXZYUMZ898 DARLING INGREDIENTS INC 237266101 66800.00000000 NS USD 4259836.00000000 0.517698298582 Long EC CORP US N 1 N N N FIRST QUANTUM MINERALS LTD 549300I7UVBGWRYMYZ18 FIRST QUANTUM MINERALS INC 335934105 999324.00000000 NS 24614588.71000000 2.991413447718 Long EC CORP CA N 1 N N N LUNDIN MINING CORP 549300FQDIM6C8HTN269 LUNDIN MINING CORP 550372106 835900.00000000 NS 6963915.35000000 0.846325334629 Long EC CORP CA N 1 N N N UPM KYMMENE CORP 213800EC6PW5VU4J9U64 UPM KYMMENE CORP N/A 383700.00000000 NS 13984525.44000000 1.699540786728 Long EC CORP FI N 2 N N N FMC CORP CKDHZ2X64EEBQCSP7013 FMC CORP NEW 302491303 82800.00000000 NS USD 9138636.00000000 1.110619354492 Long EC CORP US N 1 N N N BP PLC 213800LH1BZH3DI6G760 BP PLC N/A 3065999.00000000 NS 15893905.32000000 1.931587916059 Long EC CORP GB N 2 N N N ERO COPPER CORP 549300KL8A21SEIO8I47 ERO COPPER CORP 296006109 309800.00000000 NS 3858029.34000000 0.468866694680 Long EC CORP CA N 1 N N N IGO LTD 2549005DZO8VGXM5QN07 IGO LTD N/A 689104.00000000 NS 5830515.23000000 0.708583103769 Long EC CORP AU N 2 N N N SOC QUIMICA Y MINERA DE CHILE TJ88LXZZW5PWIN93ZC81 SOC QUIMICA Y MIN CH PFD B ADR 833635105 143400.00000000 NS USD 7765110.00000000 0.943694601225 Long EC CORP CL N 1 N N N PIONEER NATURAL RESOURCES CO FY8JBF7CCL2VE4F1B628 PIONEER NATURAL RESOURCES CO 723787107 95110.00000000 NS USD 20818627.90000000 2.530089947747 Long EC CORP US N 1 N N N OCCIDENTAL PETROLEUM CORP IM7X0T3ECJW4C1T7ON55 OCCIDENTAL PETROLEUM CORP 674599105 357900.00000000 NS USD 13482093.00000000 1.638480121636 Long EC CORP US N 1 N N N RIO TINTO PLC 213800YOEO5OQ72G2R82 RIO TINTO PLC N/A 476711.00000000 NS 33601162.55000000 4.083552672574 Long EC CORP GB N 2 N N N GRUPO MEXICO SAB DE CV 529900JWLZAYET2ZGW20 GRUPO MEXICO SAB DE CV SER B N/A 500620.00000000 NS 2149986.71000000 0.261288101641 Long EC CORP MX N 1 N N N NUCOR CORP 549300GGJCRSI2TIEJ46 NUCOR CORP 670346105 40092.00000000 NS USD 4065328.80000000 0.494059818955 Long EC CORP US N 1 N N N CORTEVA INC 549300WZN9I2QKLS0O94 CORTEVA INC 22052L104 598500.00000000 NS USD 28775880.00000000 3.497135597759 Long EC CORP US N 1 N N N HESS CORP UASVRYNXNK17ULIGK870 HESS CORP 42809H107 84300.00000000 NS USD 7780047.00000000 0.945509896341 Long EC CORP US N 1 N N N ARCELORMITTAL SA LUXEMBOURG 2EULGUTUI56JI9SAL165 ARCELORMITTAL SA N/A 243800.00000000 NS 7241845.83000000 0.880102253886 Long EC CORP LU N 2 N N N KAISER ALUMINUM CORP N/A KAISER ALUM CORP 483007704 14300.00000000 NS USD 1369225.00000000 0.166402052303 Long EC CORP US N 1 N N N NEWCREST MNG LTD 5299006MN50OZJUJI655 NEWCREST MINING LTD N/A 138604.00000000 NS 2149937.15000000 0.261282078609 Long EC CORP AU N 2 N N N SHELL PLC 21380068P1DRHMJ8KU70 SHELL PLC N/A 977696.00000000 NS 25115771.05000000 3.052322188031 Long EC CORP GB N 2 N N N MONDI PLC 213800LOZA69QFDC9N34 MONDI PLC N/A 302939.00000000 NS 7579289.11000000 0.921111769728 Long EC CORP GB N 2 N N N MMC NORILSK NICKEL PJSC 253400JPTEEW143W3E47 MMC NORILSK NICKEL PJSC N/A 14940.00000000 NS 4190205.80000000 0.509236133356 Long EC CORP RU N 2 N N N NINE DRAGONS PAPER HLDGS LTD 529900TBMYEYJ2LEV906 NINE DRAGONS PAPER (HLDGS) LTD N/A 1545000.00000000 NS 1543256.32000000 0.187552096170 Long EC CORP BM N 2 N N N TECK RESOURCES LTD T8KI5SQ2JRWHL7XY0E11 TECK RESOURCES LTD SUB VTG CLB 878742204 89300.00000000 NS 2758067.89000000 0.335188268756 Long EC CORP CA N 1 N N N FREEPORT-MCMORAN INC 549300IRDTHJQ1PVET45 FREEPORT MCMORAN INC 35671D857 350200.00000000 NS USD 13034444.00000000 1.584077293531 Long EC CORP US N 1 N N N KIRKLAND LAKE GOLD LTD 5493000QHU254ST8A805 KIRKLAND LAKE GOLD LTD 49741E100 84300.00000000 NS 3175301.11000000 0.385894664051 Long EC CORP CA N 1 N N N IVANHOE MINE LTD 5299006XZISURYIA4G32 IVANHOE MINES LTD 46579R104 852700.00000000 NS 7305119.77000000 0.887791942194 Long EC CORP CA N 1 N N N CF INDUSTRIES HOLDINGS INC 529900CG8YAQFZ2JMV97 CF INDUSTRIES HOLDINGS INC 125269100 466560.00000000 NS USD 32131987.20000000 3.905003644158 Long EC CORP US N 1 N N N ALBEMARL CORP HDBLS2Q6GV1LSKQPBS54 ALBEMARLE CORP 012653101 38500.00000000 NS USD 8498490.00000000 1.032822346569 Long EC CORP US N 1 N N N DIAMONDBACK ENERGY INC 549300R22LSX6OHWEN64 DIAMONDBACK ENERGY INC 25278X109 63500.00000000 NS USD 8011160.00000000 0.973597082533 Long EC CORP US N 1 N N N SVENSKA CELLULOSA AB SCA 549300FW5JDRV1IJ0M67 SVENSKA CELLULOSA AB CL B N/A 240900.00000000 NS 4194947.85000000 0.509812435170 Long EC CORP SE N 2 N N N COMMERCIAL METALS CO 549300OQS2LO07ZJ7N73 COMMERCIAL METALS CO 201723103 205400.00000000 NS USD 6868576.00000000 0.834738733811 Long EC CORP US N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Cash Central Fund 31635A105 8798775.20300000 NS USD 8800534.96000000 1.069529901012 Long STIV RF US N 1 N N N COTERRA ENERGY INC FCNMH6O7VWU7LHXMK351 COTERRA ENERGY INC 127097103 519600.00000000 NS USD 11379240.00000000 1.382920184524 Long EC CORP US N 1 N N N EXXON MOBIL CORP J3WHBG0MTS7O8ZVMDC91 EXXON MOBIL CORP 30231G102 780200.00000000 NS USD 59263992.00000000 7.202358923115 Long EC CORP US N 1 N N N NUTRIEN LTD 5493002QQ7GD21OWF963 NUTRIEN LTD 67077M108 665683.00000000 NS 46492811.03000000 5.650276012163 Long EC CORP CA N 1 N N N CHEVRON CORP NEW N/A CHEVRON CORP 166764100 343000.00000000 NS USD 45046190.00000000 5.474468012530 Long EC CORP US N 1 N N N IMPALA PLATINUM HOLDINGS LTD 254900BZFIFB4PD2Z778 IMPALA PLATINUM HOLDINGS LTD N/A 178300.00000000 NS 2748826.74000000 0.334065190865 Long EC CORP ZA N 2 N N N BARRICK GOLD CORP 0O4KBQCJZX82UKGCBV73 BARRICK GOLD CORP 067901108 627247.00000000 NS 12005600.84000000 1.459041880562 Long EC CORP CA N 1 N N N WILMAR INTERNATIONAL LTD 549300H2EAI4YRLWBB20 WILMAR INTERNATIONAL LTD N/A 890800.00000000 NS 2833798.69000000 0.344391840516 Long EC CORP SG N 2 N N N LOUISIANA PACIFIC CORP 549300C7E2UAO5BVRR75 LOUISIANA PACIFIC CORP 546347105 48200.00000000 NS USD 3202408.00000000 0.389188967126 Long EC CORP US N 1 N N N FORTESCUE METALS GROUP LTD 529900VEJFORCO6I4826 FORTESCUE METALS GROUP LTD N/A 444522.00000000 NS 6242026.01000000 0.758594050354 Long EC CORP AU N 2 N N N ARCHER DANIELS MIDLAND CO 549300LO13MQ9HYSTR83 ARCHER DANIELS MIDLAND CO 039483102 564400.00000000 NS USD 42330000.00000000 5.144369167967 Long EC CORP US N 1 N N N WEST FRASER TIMBER CO 5493005WD1ZK6WBVR988 WEST FRASER TIMBER LTD 952845105 100600.00000000 NS 9311722.46000000 1.131654569428 Long EC CORP CA N 1 N N N BUNGE LIMITED 5493007M0RIN8HY3MM77 BUNGE LIMITED N/A 139500.00000000 NS USD 13790970.00000000 1.676017974589 Long EC CORP BM N 1 N N N VALE SA 254900SMTWBX7RU2SR20 VALE S.A. N/A 1110700.00000000 NS 16915370.52000000 2.055726684806 Long EC CORP BR N 1 N N N FRANCO NEVADA CORP N/A FRANCO-NEVADA CORP 351858105 59171.00000000 NS 7823521.98000000 0.950793415044 Long EC CORP CA N 1 N N N MOSAIC CO 2YD5STGSJNMUB7H76907 MOSAIC CO NEW 61945C103 613461.00000000 NS USD 24507766.95000000 2.978431388455 Long EC CORP US N 1 N N N SUZANO SA 391200AW174YQSDMGG41 SUZANO SA N/A 513745.00000000 NS 5727520.01000000 0.696066084298 Long EC CORP BR N 1 N N N RANGE RESOURCES CORP H3Y3WLYCX0BTO1TRW162 RANGE RESOURCES CORP 75281A109 796800.00000000 NS USD 15338400.00000000 1.864077298510 Long EC CORP US N 1 N N N SOC QUIMICA Y MINERA DE CHILE TJ88LXZZW5PWIN93ZC81 SOC QUIMICA Y MIN CH PFD B N/A 123070.00000000 NS 6562913.61000000 0.797591552736 Long EC CORP CL N 1 N N N AGNICO EAGLE MINES LTD YGE0EUBRF7IJOB3QRX76 AGNICO EAGLE MINES LTD 008474108 194200.00000000 NS 9274973.06000000 1.127188411140 Long EC CORP CA N 1 N N N NEWMONT CORP 549300VSP3RIX7FGDZ51 NEWMONT CORP 651639106 259800.00000000 NS USD 15891966.00000000 1.931352230304 Long EC CORP US N 1 N N N WHEATON PRECIOUS METALS CORP 549300XSFG5ZCGVYD886 WHEATON PRECIOUS METALS CORP 962879102 153700.00000000 NS 6196849.31000000 0.753103721448 Long EC CORP CA N 1 N N N 2022-03-02 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_2120_20220131.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity® Global Commodity Stock Fund
January 31, 2022
GCS-NPRT1-0422
1.879386.112
Common Stocks - 97.9%
 
  
Shares
Value ($)
 
Chemicals - 19.6%
 
  
  
Fertilizers & Agricultural Chemicals - 18.5%
  
  
  
CF Industries Holdings, Inc.
 
466,560
32,131,987
Corteva, Inc.
 
598,500
28,775,880
FMC Corp.
 
82,800
9,138,636
Icl Group Ltd.
 
430,400
3,861,553
Nutrien Ltd.
 
665,683
46,492,811
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR
 
143,400
7,765,110
The Mosaic Co.
 
613,461
24,507,767
 
  
  
152,673,744
Specialty Chemicals - 1.1%
  
  
  
Albemarle Corp. U.S.
 
38,500
8,498,490
TOTAL CHEMICALS
  
  
161,172,234
Food Products - 7.7%
 
  
  
Agricultural Products - 7.7%
  
  
  
Archer Daniels Midland Co.
 
564,400
42,330,000
Bunge Ltd.
 
139,500
13,790,970
Darling Ingredients, Inc. (a)
  
66,800
4,259,836
Wilmar International Ltd.
 
890,800
2,833,799
 
  
  
63,214,605
Metals & Mining - 29.3%
 
  
  
Aluminum - 1.4%
  
  
  
Alcoa Corp.
 
183,300
10,394,943
Kaiser Aluminum Corp. (b)
  
14,300
1,369,225
 
  
  
11,764,168
Copper - 5.9%
  
  
  
ERO Copper Corp. (a)
  
309,800
3,858,029
First Quantum Minerals Ltd.
 
999,324
24,614,589
Freeport-McMoRan, Inc.
 
350,200
13,034,444
Lundin Mining Corp.
 
835,900
6,963,915
 
  
  
48,470,977
Diversified Metals & Mining - 9.3%
  
  
  
Anglo American PLC (United Kingdom)
 
358,146
15,789,048
Grupo Mexico SA de CV Series B
 
500,620
2,149,987
IGO Ltd.
 
689,104
5,830,515
Ivanhoe Mines Ltd. (a)
  
852,700
7,305,120
MMC Norilsk Nickel PJSC
 
14,940
4,190,206
Nickel Mines Ltd.
 
4,845,629
4,976,945
Rio Tinto PLC
 
476,711
33,601,163
Teck Resources Ltd. Class B (sub. vtg.)
 
89,300
2,758,068
 
  
  
76,601,052
Gold - 6.9%
  
  
  
Agnico Eagle Mines Ltd. (Canada)
 
194,200
9,274,973
Barrick Gold Corp. (Canada)
 
627,247
12,005,601
Franco-Nevada Corp.
 
59,171
7,823,522
Kirkland Lake Gold Ltd.
 
84,300
3,175,301
Newcrest Mining Ltd.
 
138,604
2,149,937
Newmont Corp.
 
259,800
15,891,966
Wheaton Precious Metals Corp.
 
153,700
6,196,849
 
  
  
56,518,149
Precious Metals & Minerals - 0.3%
  
  
  
Impala Platinum Holdings Ltd.
 
178,300
2,748,827
Steel - 5.5%
  
  
  
ArcelorMittal SA (Netherlands)
 
243,800
7,241,846
Commercial Metals Co.
 
205,400
6,868,576
Fortescue Metals Group Ltd.
 
444,522
6,242,026
Nucor Corp.
 
40,092
4,065,329
Steel Dynamics, Inc.
 
70,900
3,936,368
Vale SA
 
1,110,700
16,915,371
 
  
  
45,269,516
TOTAL METALS & MINING
  
  
241,372,689
Oil, Gas & Consumable Fuels - 35.8%
 
  
  
Integrated Oil & Gas - 24.1%
  
  
  
BP PLC
 
3,065,999
15,893,905
Chevron Corp.
 
343,000
45,046,190
Equinor ASA
 
139,200
3,837,441
Exxon Mobil Corp.
 
780,200
59,263,993
Occidental Petroleum Corp.
 
357,900
13,482,093
Petroleo Brasileiro SA - Petrobras (ON)
 
1,837,100
12,202,127
Shell PLC
 
977,696
25,115,771
Total SA
 
422,314
24,015,923
 
  
  
198,857,443
Oil & Gas Exploration & Production - 11.7%
  
  
  
ConocoPhillips Co.
 
300,900
26,665,758
Coterra Energy, Inc.
 
519,600
11,379,240
Diamondback Energy, Inc.
 
63,500
8,011,160
Hess Corp.
 
84,300
7,780,047
Magnolia Oil & Gas Corp. Class A
 
281,900
6,097,497
Pioneer Natural Resources Co.
 
95,110
20,818,628
Range Resources Corp. (a)
  
796,800
15,338,400
 
  
  
96,090,730
TOTAL OIL, GAS & CONSUMABLE FUELS
  
  
294,948,173
Paper & Forest Products - 5.5%
 
  
  
Forest Products - 2.0%
  
  
  
Louisiana-Pacific Corp.
 
48,200
3,202,408
Svenska Cellulosa AB SCA (B Shares)
 
240,900
4,194,948
West Fraser Timber Co. Ltd.
 
100,600
9,311,722
 
  
  
16,709,078
Paper Products - 3.5%
  
  
  
Mondi PLC
 
302,939
7,579,289
Nine Dragons Paper (Holdings) Ltd.
 
1,545,000
1,543,256
Suzano Papel e Celulose SA
 
513,745
5,727,520
UPM-Kymmene Corp.
 
383,700
13,984,525
 
  
  
28,834,590
TOTAL PAPER & FOREST PRODUCTS
  
  
45,543,668
 
TOTAL COMMON STOCKS
 (Cost $595,352,432)
  
  
  
806,251,369
 
  
  
  
Nonconvertible Preferred Stocks - 0.8%
 
  
Shares
Value ($)
 
Chemicals - 0.8%
 
  
  
Fertilizers & Agricultural Chemicals - 0.8%
  
  
  
Sociedad Quimica y Minera de Chile SA (PN-B) (a)
 
  (Cost $6,465,804)
 
  
123,070
6,562,914
 
  
  
  
Money Market Funds - 1.1%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 0.08% (c)
  
8,798,775
8,800,535
Fidelity Securities Lending Cash Central Fund 0.08% (c)(d)
  
487,451
487,500
 
TOTAL MONEY MARKET FUNDS
 (Cost $9,288,035)
  
  
9,288,035
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.8%
 (Cost $611,106,271)
 
  
 
822,102,318
NET OTHER ASSETS (LIABILITIES) - 0.2%  
2,039,179
NET ASSETS - 100.0%
824,141,497
 
  
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
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
%ownership,
end
of period
Fidelity Cash Central Fund 0.08%
12,474,618
67,683,773
71,357,856
1,790
-
-
8,800,535
0.0%
Fidelity Securities Lending Cash Central Fund 0.08%
-
58,719,209
58,231,709
3,038
-
-
487,500
0.0%
Total
12,474,618
126,402,982
129,589,565
4,828
-
-
9,288,035
  
 
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. Securities 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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
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)
 
Valuation techniques used to value 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 any 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 (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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.