NPORT-EX 2 QTLY_6549_20220731.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® SAI Sustainable International Equity Fund
July 31, 2022
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.
IEE-NPRT3-0922
1.9904875.100
Common Stocks - 95.0%
 
 
Shares
Value ($)
 
Australia - 2.2%
 
 
 
Bapcor Ltd.
 
3,227
15,130
Macquarie Group Ltd.
 
213
27,260
TOTAL AUSTRALIA
 
 
42,390
Austria - 2.1%
 
 
 
Verbund AG
 
291
31,972
Wienerberger AG
 
363
8,325
TOTAL AUSTRIA
 
 
40,297
Bailiwick of Jersey - 1.3%
 
 
 
Experian PLC
 
1
35
Ferguson PLC
 
202
25,313
TOTAL BAILIWICK OF JERSEY
 
 
25,348
Belgium - 1.6%
 
 
 
KBC Group NV
 
140
7,333
UCB SA
 
283
22,069
TOTAL BELGIUM
 
 
29,402
Canada - 1.7%
 
 
 
Nutrien Ltd.
 
208
17,806
The Toronto-Dominion Bank
 
218
14,161
TOTAL CANADA
 
 
31,967
Denmark - 1.4%
 
 
 
ORSTED A/S (a)
 
229
26,659
Finland - 1.6%
 
 
 
Neste OYJ
 
607
31,069
France - 11.4%
 
 
 
Air Liquide SA
 
65
8,936
AXA SA
 
1,969
45,371
BNP Paribas SA
 
443
20,931
Capgemini SA
 
179
33,909
L'Oreal SA
 
29
10,964
Legrand SA
 
264
21,613
LVMH Moet Hennessy Louis Vuitton SE
 
64
44,439
Pernod Ricard SA
 
122
23,878
Worldline SA (a)(b)
 
167
7,371
TOTAL FRANCE
 
 
217,412
Germany - 7.9%
 
 
 
Brenntag SE
 
166
11,661
Deutsche Borse AG
 
79
13,791
Deutsche Post AG
 
586
23,405
Infineon Technologies AG
 
356
9,763
Merck KGaA
 
211
40,187
Puma AG
 
147
9,859
SAP SE
 
78
7,275
Siemens AG
 
298
33,240
TOTAL GERMANY
 
 
149,181
Hong Kong - 2.6%
 
 
 
AIA Group Ltd.
 
2,583
25,951
Hang Seng Bank Ltd.
 
1,482
23,882
TOTAL HONG KONG
 
 
49,833
India - 2.0%
 
 
 
HDFC Bank Ltd. sponsored ADR
 
598
37,554
Ireland - 2.1%
 
 
 
CRH PLC
 
482
18,490
Dalata Hotel Group PLC (b)
 
4,571
16,795
Kerry Group PLC Class A
 
46
4,854
TOTAL IRELAND
 
 
40,139
Italy - 1.1%
 
 
 
Carel Industries SpA (a)
 
462
10,483
Intesa Sanpaolo SpA
 
5,799
10,298
TOTAL ITALY
 
 
20,781
Japan - 17.0%
 
 
 
FUJIFILM Holdings Corp.
 
402
22,963
Fujitsu Ltd.
 
106
14,211
Hitachi Ltd.
 
765
38,730
Hoya Corp.
 
346
34,666
Itochu Corp.
 
1,095
31,875
Nomura Research Institute Ltd.
 
512
15,383
ORIX Corp.
 
3,642
64,907
Persol Holdings Co. Ltd.
 
886
18,342
Recruit Holdings Co. Ltd.
 
428
15,996
Sony Group Corp.
 
780
66,166
TOTAL JAPAN
 
 
323,239
Kenya - 0.6%
 
 
 
Safaricom Ltd.
 
45,597
11,486
Netherlands - 4.7%
 
 
 
ASML Holding NV (Netherlands)
 
77
44,256
Heineken NV (Bearer)
 
203
19,938
Koninklijke KPN NV
 
7,820
25,744
TOTAL NETHERLANDS
 
 
89,938
New Zealand - 1.9%
 
 
 
EBOS Group Ltd.
 
1,064
26,439
Ryman Healthcare Ltd.
 
1,705
9,973
TOTAL NEW ZEALAND
 
 
36,412
Norway - 1.6%
 
 
 
DNB Bank ASA
 
1,367
26,965
Schibsted ASA (A Shares)
 
210
3,931
TOTAL NORWAY
 
 
30,896
Singapore - 0.8%
 
 
 
United Overseas Bank Ltd.
 
725
14,465
Spain - 3.6%
 
 
 
Amadeus IT Holding SA Class A (b)
 
459
26,764
Cellnex Telecom SA (a)
 
157
7,022
EDP Renovaveis SA
 
550
14,222
Iberdrola SA
 
1,896
20,246
TOTAL SPAIN
 
 
68,254
Sweden - 4.0%
 
 
 
Boliden AB
 
876
29,046
Bravida Holding AB (a)
 
431
4,347
Instalco AB
 
1,033
5,086
Investor AB (B Shares)
 
520
9,661
Lagercrantz Group AB (B Shares)
 
714
7,764
Nibe Industrier AB (B Shares)
 
1,906
19,093
TOTAL SWEDEN
 
 
74,997
Switzerland - 7.3%
 
 
 
Nestle SA (Reg. S)
 
588
72,046
Roche Holding AG (participation certificate)
 
177
58,765
SGS SA (Reg.)
 
3
7,321
TOTAL SWITZERLAND
 
 
138,132
Taiwan - 1.8%
 
 
 
Taiwan Semiconductor Manufacturing Co. Ltd.
 
2,038
34,838
United Kingdom - 12.7%
 
 
 
AstraZeneca PLC (United Kingdom)
 
473
62,219
Beazley PLC
 
1,401
9,247
Big Yellow Group PLC
 
431
7,479
Bunzl PLC
 
273
10,210
Compass Group PLC
 
1,638
38,389
Dechra Pharmaceuticals PLC
 
154
6,909
Diageo PLC
 
622
29,465
Grainger Trust PLC
 
2,528
9,119
Impax Asset Management Group PLC
 
468
4,086
Legal & General Group PLC
 
4,509
14,332
Reckitt Benckiser Group PLC
 
471
38,205
Smart Metering Systems PLC
 
992
11,356
TOTAL UNITED KINGDOM
 
 
241,016
 
TOTAL COMMON STOCKS
 (Cost $1,944,430)
 
 
 
1,805,705
 
 
 
 
Money Market Funds - 3.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 2.01% (c)
 
 (Cost $59,018)
 
 
59,007
59,018
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 98.1%
 (Cost $2,003,448)
 
 
 
1,864,723
NET OTHER ASSETS (LIABILITIES) - 1.9%  
36,604
NET ASSETS - 100.0%
1,901,327
 
 
Categorizations in 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 $55,882 or 2.9% of net assets.
 
(b)
Non-income producing
 
(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.
 
 
 
 
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 2.01%
-
2,111,069
2,052,051
278
-
-
59,018
0.0%
Total
-
2,111,069
2,052,051
278
-
-
59,018
 
 
 
 
 
 
 
 
 
 
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
 
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 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.
 
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