NPORT-EX 2 QTLY_2953_20220131.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity® International Capital Appreciation K6 Fund
January 31, 2022
IVFK6-NPRT1-0422
1.9883989.104
Common Stocks - 100.1%
 
 
Shares
Value ($)
 
Bailiwick of Jersey - 4.2%
 
 
 
Clarivate Analytics PLC (a)(b)
 
660,500
10,871,830
Experian PLC
 
302,875
12,650,453
Ferguson PLC
 
78,011
12,270,398
TOTAL BAILIWICK OF JERSEY
 
 
35,792,681
Bermuda - 1.3%
 
 
 
IHS Markit Ltd.
 
92,047
10,750,169
Canada - 8.7%
 
 
 
Brookfield Asset Management, Inc. Class A
 
244,817
13,489,417
Canadian National Railway Co.
 
113,601
13,845,890
Canadian Pacific Railway Ltd.
 
186,147
13,317,239
Constellation Software, Inc.
 
7,064
12,166,596
Thomson Reuters Corp.
 
105,453
11,320,549
Waste Connections, Inc. (Canada)
 
87,957
10,965,304
TOTAL CANADA
 
 
75,104,995
Denmark - 3.5%
 
 
 
DSV A/S
 
65,888
13,387,172
Novo Nordisk A/S Series B
 
172,388
17,147,142
TOTAL DENMARK
 
 
30,534,314
France - 13.7%
 
 
 
Air Liquide SA
 
76,690
13,118,539
Dassault Systemes SA
 
239,571
11,585,263
EssilorLuxottica SA
 
67,331
12,738,042
Hermes International SCA
 
8,051
12,087,922
LVMH Moet Hennessy Louis Vuitton SE
 
24,718
20,302,808
Pernod Ricard SA
 
55,400
11,850,026
Sartorius Stedim Biotech
 
25,897
11,356,128
Schneider Electric SA
 
81,821
13,860,102
Teleperformance
 
30,096
11,333,825
TOTAL FRANCE
 
 
118,232,655
Germany - 3.3%
 
 
 
Brenntag SE
 
46,990
4,025,926
Infineon Technologies AG
 
310,542
12,896,112
Merck KGaA
 
52,733
11,564,255
TOTAL GERMANY
 
 
28,486,293
Hong Kong - 1.3%
 
 
 
Techtronic Industries Co. Ltd.
 
692,573
11,427,525
India - 7.5%
 
 
 
HDFC Bank Ltd.
 
604,914
12,173,094
Housing Development Finance Corp. Ltd.
 
373,800
12,762,320
Kotak Mahindra Bank Ltd. (a)
 
474,800
11,908,289
Reliance Industries Ltd.
 
455,000
14,672,545
Tata Consultancy Services Ltd.
 
267,200
13,463,502
TOTAL INDIA
 
 
64,979,750
Ireland - 6.6%
 
 
 
Accenture PLC Class A
 
31,739
11,222,276
ICON PLC (a)
 
42,646
11,331,895
James Hardie Industries PLC CDI
 
333,845
11,235,628
Kingspan Group PLC (Ireland)
 
121,449
11,690,327
Linde PLC
 
35,599
11,344,689
TOTAL IRELAND
 
 
56,824,815
Japan - 7.8%
 
 
 
Hoya Corp.
 
99,252
12,869,843
Keyence Corp.
 
27,167
13,934,570
Recruit Holdings Co. Ltd.
 
281,746
13,926,312
Shin-Etsu Chemical Co. Ltd.
 
78,152
13,075,564
Tokyo Electron Ltd.
 
27,928
13,660,511
TOTAL JAPAN
 
 
67,466,800
Netherlands - 6.4%
 
 
 
ASM International NV (Netherlands)
 
33,523
11,517,849
ASML Holding NV (Netherlands)
 
31,296
21,196,604
Ferrari NV
 
49,044
11,303,300
Wolters Kluwer NV
 
113,488
11,550,648
TOTAL NETHERLANDS
 
 
55,568,401
Sweden - 4.3%
 
 
 
ASSA ABLOY AB (B Shares)
 
438,131
11,996,952
Atlas Copco AB (A Shares)
 
229,646
13,591,845
Hexagon AB (B Shares)
 
871,808
11,759,007
TOTAL SWEDEN
 
 
37,347,804
Switzerland - 7.2%
 
 
 
Lonza Group AG
 
18,659
12,864,296
Nestle SA (Reg. S)
 
186,432
24,075,526
Partners Group Holding AG
 
8,379
11,681,992
Sika AG
 
37,791
13,222,098
TOTAL SWITZERLAND
 
 
61,843,912
Taiwan - 3.5%
 
 
 
Taiwan Semiconductor Manufacturing Co. Ltd.
 
1,293,200
29,925,032
United Kingdom - 7.3%
 
 
 
Ashtead Group PLC
 
175,492
12,552,595
Diageo PLC
 
295,919
14,932,486
RELX PLC (London Stock Exchange)
 
420,291
12,928,321
Rentokil Initial PLC
 
1,660,403
11,627,378
St. James's Place PLC
 
528,278
10,904,947
TOTAL UNITED KINGDOM
 
 
62,945,727
United States of America - 13.5%
 
 
 
Adobe, Inc. (a)
 
21,638
11,561,183
Alphabet, Inc. Class A (a)
 
4,133
11,184,187
Danaher Corp.
 
40,506
11,576,210
Marsh & McLennan Companies, Inc.
 
18,300
2,811,612
Microsoft Corp.
 
37,785
11,750,379
Moody's Corp.
 
32,133
11,021,619
NICE Systems Ltd. sponsored ADR (a)
 
46,310
11,858,139
NVIDIA Corp.
 
47,354
11,595,100
Sherwin-Williams Co.
 
37,760
10,818,618
Thermo Fisher Scientific, Inc.
 
18,894
10,983,082
Zoetis, Inc. Class A
 
54,205
10,829,617
TOTAL UNITED STATES OF AMERICA
 
 
115,989,746
 
TOTAL COMMON STOCKS
 (Cost $678,556,830)
 
 
 
863,220,619
 
 
 
 
Money Market Funds - 2.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 0.08% (c)
 
14,351,996
14,354,867
Fidelity Securities Lending Cash Central Fund 0.08% (c)(d)
 
3,773,173
3,773,550
 
TOTAL MONEY MARKET FUNDS
 (Cost $18,128,417)
 
 
18,128,417
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 102.2%
 (Cost $696,685,247)
 
 
 
881,349,036
NET OTHER ASSETS (LIABILITIES) - (2.2)%  
(19,045,120)
NET ASSETS - 100.0%
862,303,916
 
 
Categorizations in Schedule of Investments are based on country or territory of incorporation.
 
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%
17,246,777
121,452,489
124,344,399
1,940
-
-
14,354,867
0.0%
Fidelity Securities Lending Cash Central Fund 0.08%
-
32,283,158
28,509,608
1,578
-
-
3,773,550
0.0%
Total
17,246,777
153,735,647
152,854,007
3,518
-
-
18,128,417
 
 
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 - Unadjusted 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.
 
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