0001752724-22-219209.txt : 20220927 0001752724-22-219209.hdr.sgml : 20220927 20220927144337 ACCESSION NUMBER: 0001752724-22-219209 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220731 FILED AS OF DATE: 20220927 DATE AS OF CHANGE: 20220927 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: 221270428 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 S000065700 Fidelity Series Overseas Fund C000212505 Fidelity Series Overseas Fund FSOSX NPORT-P 1 primary_doc.xml NPORT-P false 0000744822 XXXXXXXX S000065700 C000212505 Fidelity Investment Trust 811-04008 0000744822 MXNTE4GH7BW81YELH558 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Series Overseas Fund S000065700 549300GQP4O5RBLB3W95 2022-10-31 2022-07-31 N 13624707701.50 15894174.35 13608813527.15 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 1188091.36000000 N ALLIANZ SE 529900K9B0N5BT694847 ALLIANZ SE (REGD) N/A 801133.00000000 NS 145490758.74000000 1.069092161853 Long EC CORP DE N 2 N N N HANNOVER RUECK SA 529900KIN5BE45V5KB18 HANNOVER RUECKVERSICHERUNGS SE(REGD) N/A 869216.00000000 NS 122863260.41000000 0.902821250102 Long EC CORP DE N 1 N N N TOTALENERGIES SE 529900S21EQ1BO4ESM68 TOTALENERGIES SE N/A 5601879.00000000 NS 286129297.81000000 2.102529344230 Long EC CORP FR N 2 N N N EQUINOR ASA OW6OFBNCKXC4US5C7523 EQUINOR ASA N/A 400.00000000 NS 15401.57000000 0.000113173495 Long EC CORP NO N 2 N N N KRY INTERNATIONAL AB N/A KRY INTERNATIONAL SER E O% PFD PERP PP N/A 25711.00000000 NS 5817670.40000000 0.042749284413 Long EP CORP SE Y 3 N N N EUROFINS SCIENTIFIC SE 529900JEHFM47DYY3S57 EUROFINS SCIENTIFIC SE N/A 1502867.00000000 NS 116767116.98000000 0.858025695973 Long EC CORP LU N 1 N N N CHERVON HOLDINGS LTD 254900QZTJZRI14G4020 CHERVON HOLDINGS LTD N/A 1034200.00000000 NS 4986620.21000000 0.036642578723 Long EC CORP HK N 1 N N N PARADE TECHNOLOGIES LTD 529900D9FDQHQKAQLY02 PARADE TECHNOLOGIES LTD N/A 1144000.00000000 NS 42942050.23000000 0.315545878737 Long EC CORP KY N 2 N N N ESSILORLUXOTTICA 549300M3VH1A3ER1TB49 ESSILORLUXOTTICA N/A 1118116.00000000 NS 174215356.83000000 1.280165655017 Long EC CORP FR N 1 N N KINGSPAN GROUP PLC 635400HM7V74SUB9OG75 KINGSPAN GROUP PLC N/A 1937900.00000000 NS 124819346.79000000 0.917194923282 Long EC CORP IE N 1 N N N RECRUIT HOLDINGS CO LTD 353800R2LRSMVVC4I806 RECRUIT HOLDINGS CO LTD N/A 3829546.00000000 NS 143121842.58000000 1.051684941486 Long EC CORP JP N 2 N N N SMC CORP 353800O40V08DOZ70X62 SMC CORP N/A 259621.00000000 NS 127950733.90000000 0.940204916797 Long EC CORP JP N 2 N N N LEGRAND SA 969500XXRPGD7HCAFA90 LEGRAND SA N/A 2143400.00000000 NS 175477391.06000000 1.289439308650 Long EC CORP FR N 2 N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 BNP PARIBAS N/A 2959400.00000000 NS 139823738.11000000 1.027449878940 Long EC CORP FR N 2 N N N ZURICH INSURANCE GROUP AG 529900QVNRBND50TXP03 ZURICH INSURANCE GROUP AG N/A 432060.00000000 NS 188606447.81000000 1.385913969896 Long EC CORP CH N 2 N N N PERSOL HOLDINGS CO LTD 3538000H6OI725NB2008 PERSOL HOLDINGS CO LTD N/A 3751153.00000000 NS 77655572.21000000 0.570627057642 Long EC CORP JP N 2 N N N S and P GLOBAL INC Y6X4K52KMJMZE7I7MY94 S and P GLOBAL INC 78409V104 457151.00000000 NS USD 172313926.43000000 1.266193603771 Long EC CORP US N 1 N N N LINDE PLC 8945002PAZHZLBGKGF02 LINDE PLC N/A 631200.00000000 NS USD 190622400.00000000 1.400727547774 Long EC CORP IE N 1 N N N MERCK KGAA 529900OAREIS0MOPTW25 MERCK KGAA N/A 1104300.00000000 NS 210325870.27000000 1.545512177460 Long EC CORP DE N 2 N N N SIKA AG 549300R3N69ECGYPU434 SIKA AG N/A 755881.00000000 NS 186768711.27000000 1.372409952545 Long EC CORP CH N 2 N N N DECHRA PHARMACEUTICALS PLC 213800J4UVB5OWG8VX82 DECHRA PHARMACEUTICALS PLC N/A 1764963.00000000 NS 79182862.19000000 0.581849858049 Long EC CORP GB N 1 N N N POOL CORP 5493005VZK1KMN6CO617 POOL CORP 73278L105 141000.00000000 NS USD 50435700.00000000 0.370610559835 Long EC CORP US N 1 N N N CBRE GROUP INC 52990016II9MJ2OSWA10 CBRE GROUP INC - 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N/A 1773920.00000000 NS 213895030.08000000 1.571739003207 Long EC CORP CH N 2 N N N KRY INTERNATIONAL AB N/A KRY INTERNATIONAL PP N/A 4451.00000000 NS 1007135.12000000 0.007400609303 Long EC CORP SE Y 3 N N N MONCLER SPA 815600EBD7FB00525B20 MONCLER SPA N/A 1935300.00000000 NS 96267963.97000000 0.707394246955 Long EC CORP IT N 1 N N N PERNOD RICARD SA 52990097YFPX9J0H5D87 PERNOD-RICARD N/A 986400.00000000 NS 193060748.58000000 1.418644970002 Long EC CORP FR N 1 N N N DIAGEO PLC 213800ZVIELEA55JMJ32 DIAGEO PLC N/A 6379347.00000000 NS 302201548.23000000 2.220631119877 Long EC CORP GB N 2 N N N NORDEA BANK ABP 529900ODI3047E2LIV03 NORDEA BANK ABP N/A 13083100.00000000 NS 128626923.40000000 0.945173678391 Long EC CORP FI N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Securities Lending Cash Central Fund 31635A303 575192.48400000 NS USD 575250.00000000 0.004227040063 Long STIV RF US N 1 N N DEUTSCHE BOERSE AG 529900G3SW56SHYNPR95 DEUTSCHE BOERSE AG N/A 996260.00000000 NS 173912493.96000000 1.277940164387 Long EC CORP DE N 2 N N N ASM INTL NV 7245001I22ND6ZFHX623 ASM INTERNATIONAL NV (NETH) N/A 406200.00000000 NS 123758215.63000000 0.909397541402 Long EC CORP NL N 1 N N N OLYMPUS CORP 5299000Y52IFDI1I2A21 OLYMPUS CORP N/A 5817792.00000000 NS 124513398.39000000 0.914946759624 Long EC CORP JP N 2 N N N IMCD NV 724500NSJPNFJPDAUP02 IMCD GROUP BV N/A 1113751.00000000 NS 177348575.40000000 1.303189106428 Long EC CORP NL N 1 N N N ASML HOLDING NV 724500Y6DUVHQD6OXN27 ASML HOLDING NV N/A 679028.00000000 NS 390277039.09000000 2.867825606629 Long EC CORP NL N 2 N N N RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA 815600FBF92FD3531704 RECORDATI SPA N/A 3005539.00000000 NS 132794395.77000000 0.975797012025 Long EC CORP IT N 1 N N N EURONEXT NV 724500QJ4QSZ3H9QU415 EURONEXT NV N/A 1162960.00000000 NS 94470188.03000000 0.694183867252 Long EC CORP NL N 1 N N N COMPASS GROUP PLC 2138008M6MH9OZ6U2T68 COMPASS GROUP PLC N/A 9907187.00000000 NS 232189376.70000000 1.706169139850 Long EC CORP GB N 2 N N N NESTLE SA KY37LUS27QQX7BB93L28 NESTLE SA (REG) N/A 3983951.00000000 NS 488142749.42000000 3.586960380095 Long EC CORP CH N 2 N N N DSV A/S 529900X41C0BSLK67H70 DSV A/S N/A 1344031.00000000 NS 226470569.08000000 1.664146316856 Long EC CORP DK N 2 N N N ADDTECH AB 549300QZ5U2IDRHPWL60 ADDTECH AB CL B N/A 4747319.00000000 NS 80817754.72000000 0.593863341273 Long EC CORP SE N 1 N N N PARTNERS GROUP HOLDING 549300I3IVVWZWDHI788 PARTNERS GROUP HOLDING AG N/A 124500.00000000 NS 135114251.20000000 0.992843725358 Long EC CORP CH N 1 N N N DIPLOMA PLC 2138008OGI7VYG8FGR19 DIPLOMA PLC N/A 1539631.00000000 NS 51523973.04000000 0.378607385112 Long EC CORP GB N 1 N N N MOODYS CORP 549300GCEDD8YCF5WU84 MOODYS CORP 615369105 381500.00000000 NS USD 118360375.00000000 0.869733241357 Long EC CORP US N 1 N N N RENTOKIL INITIAL PLC 549300VN4WV7Z6T14K68 RENTOKIL INITIAL PLC N/A 22528222.00000000 NS 148753054.02000000 1.093064092054 Long EC CORP GB N 2 N N N ANTIN INFRASTRUCTURE PARTNERS SA 2138008FABJXP4HUOK53 ANTIN INFRASTRUCTURE PARTNERS SA N/A 356000.00000000 NS 10689907.16000000 0.078551353052 Long EC CORP FR N 1 N N N INDUTRADE AB 549300FISLQ6CEFP1867 INDUTRADE AB N/A 7250375.00000000 NS 169447960.33000000 1.245133971392 Long EC CORP SE N 1 N N N 2022-08-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_3468_20220731.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Series Overseas Fund
July 31, 2022
SOV-NPRT3-0922
1.9894005.103
Common Stocks - 98.2%
 
 
Shares
Value ($)
 
Bailiwick of Jersey - 1.2%
 
 
 
Ferguson PLC
 
1,284,800
161,000,369
Belgium - 0.7%
 
 
 
Azelis Group NV
 
896,100
19,562,748
KBC Group NV
 
1,463,265
76,641,437
TOTAL BELGIUM
 
 
96,204,185
Bermuda - 0.4%
 
 
 
Hiscox Ltd.
 
4,754,449
51,681,254
Canada - 1.6%
 
 
 
Constellation Software, Inc.
 
123,370
209,866,287
Topicus.Com, Inc. (a)
 
194,677
11,135,911
TOTAL CANADA
 
 
221,002,198
Cayman Islands - 0.3%
 
 
 
Parade Technologies Ltd.
 
1,144,000
42,942,050
Denmark - 1.9%
 
 
 
DSV A/S
 
1,344,031
226,470,569
GN Store Nord A/S
 
985,489
34,163,871
TOTAL DENMARK
 
 
260,634,440
Finland - 1.0%
 
 
 
Nordea Bank ABP
 
13,083,100
128,626,923
France - 18.0%
 
 
 
Air Liquide SA
 
1,211,560
166,568,189
ALTEN
 
919,400
123,660,937
Antin Infrastructure Partners SA
 
356,000
10,689,907
BNP Paribas SA
 
2,959,400
139,823,738
Capgemini SA
 
1,081,762
204,925,713
Dassault Systemes SA
 
674,600
28,934,753
Edenred SA
 
3,596,527
184,159,105
EssilorLuxottica SA (b)
 
1,118,116
174,215,357
Legrand SA
 
2,143,400
175,477,391
LVMH Moet Hennessy Louis Vuitton SE
 
553,639
384,421,908
Pernod Ricard SA
 
986,400
193,060,749
Safran SA
 
1,397,800
153,640,004
Teleperformance
 
627,228
209,177,349
TotalEnergies SE
 
5,601,879
286,129,298
TOTAL FRANCE
 
 
2,434,884,398
Germany - 6.6%
 
 
 
Allianz SE
 
801,133
145,490,759
Brenntag SE
 
1,397,200
98,146,498
Deutsche Borse AG
 
996,260
173,912,494
Hannover Reuck SE
 
869,216
122,863,260
Merck KGaA
 
1,104,300
210,325,870
Siemens Healthineers AG (c)
 
2,753,900
141,119,923
TOTAL GERMANY
 
 
891,858,804
Hong Kong - 2.0%
 
 
 
AIA Group Ltd.
 
26,275,788
263,983,660
Chervon Holdings Ltd.
 
1,034,200
4,986,620
TOTAL HONG KONG
 
 
268,970,280
India - 1.0%
 
 
 
HDFC Bank Ltd.
 
7,746,600
141,301,217
Ireland - 3.7%
 
 
 
Flutter Entertainment PLC (a)
 
430,802
43,166,612
ICON PLC (a)
 
583,000
140,648,750
Kingspan Group PLC (Ireland)
 
1,937,900
124,819,347
Linde PLC
 
631,200
190,622,400
TOTAL IRELAND
 
 
499,257,109
Italy - 2.5%
 
 
 
FinecoBank SpA
 
8,473,385
104,702,098
GVS SpA (a)(c)
 
887,538
8,563,102
Moncler SpA
 
1,935,300
96,267,964
Recordati SpA
 
3,005,539
132,794,396
TOTAL ITALY
 
 
342,327,560
Japan - 10.9%
 
 
 
BayCurrent Consulting, Inc.
 
89,300
27,938,813
Capcom Co. Ltd.
 
1,749,300
48,626,219
FUJIFILM Holdings Corp.
 
1,981,900
113,210,158
Hoya Corp.
 
1,876,007
187,960,227
Misumi Group, Inc.
 
2,722,861
67,740,187
Olympus Corp.
 
5,817,792
124,513,398
Persol Holdings Co. Ltd.
 
3,751,153
77,655,572
Recruit Holdings Co. Ltd.
 
3,829,546
143,121,843
Relo Group, Inc.
 
3,110,828
51,655,276
SMC Corp.
 
259,621
127,950,734
Sony Group Corp.
 
2,637,900
223,767,656
Suzuki Motor Corp.
 
1,872,545
61,380,825
TIS, Inc.
 
2,801,100
79,422,731
Tokyo Electron Ltd.
 
427,700
147,211,580
TOTAL JAPAN
 
 
1,482,155,219
Luxembourg - 0.9%
 
 
 
Eurofins Scientific SA
 
1,530,102
118,883,174
Netherlands - 7.5%
 
 
 
ASM International NV (Netherlands)
 
406,200
123,758,216
ASML Holding NV (Netherlands)
 
679,028
390,277,039
Euronext NV (c)
 
1,162,960
94,470,188
IMCD NV
 
1,113,751
177,348,575
Wolters Kluwer NV
 
2,179,251
236,094,170
TOTAL NETHERLANDS
 
 
1,021,948,188
Norway - 0.0%
 
 
 
Equinor ASA
 
400
15,402
Spain - 1.1%
 
 
 
Amadeus IT Holding SA Class A (a)
 
2,668,770
155,616,610
Sweden - 5.8%
 
 
 
AddTech AB (B Shares)
 
4,747,319
80,817,755
ASSA ABLOY AB (B Shares)
 
7,054,351
166,666,261
Atlas Copco AB (A Shares)
 
13,106,400
153,205,527
Hexagon AB (B Shares)
 
14,730,116
173,440,375
Indutrade AB
 
7,250,375
169,447,960
Kry International AB (a)(d)(e)
 
4,451
1,007,135
Nordnet AB
 
2,657,309
35,549,503
TOTAL SWEDEN
 
 
780,134,516
Switzerland - 13.7%
 
 
 
Compagnie Financiere Richemont SA Series A
 
1,773,920
213,895,030
Julius Baer Group Ltd.
 
2,252,118
116,457,122
Nestle SA (Reg. S)
 
3,983,951
488,142,752
Partners Group Holding AG
 
124,500
135,114,251
Roche Holding AG (participation certificate)
 
1,055,072
350,288,670
Sika AG
 
755,881
186,768,711
Sonova Holding AG
 
487,423
174,619,155
Zurich Insurance Group Ltd.
 
432,060
188,606,448
TOTAL SWITZERLAND
 
 
1,853,892,139
Taiwan - 1.0%
 
 
 
Taiwan Semiconductor Manufacturing Co. Ltd.
 
8,232,684
140,731,037
United Kingdom - 9.1%
 
 
 
Beazley PLC
 
7,711,856
50,901,920
Bridgepoint Group Holdings Ltd. (c)
 
6,009,531
18,661,937
Compass Group PLC
 
9,907,187
232,189,377
Dechra Pharmaceuticals PLC
 
1,764,963
79,182,862
Diageo PLC
 
6,379,347
302,201,548
Diploma PLC
 
1,539,631
51,523,973
Dr. Martens Ltd.
 
1,251,700
3,957,135
RELX PLC (London Stock Exchange)
 
7,446,455
220,485,574
Rentokil Initial PLC
 
22,528,222
148,753,054
Smith & Nephew PLC
 
2,674,500
34,290,205
St. James's Place PLC
 
6,140,700
91,794,223
TOTAL UNITED KINGDOM
 
 
1,233,941,808
United States of America - 7.3%
 
 
 
Ares Management Corp.
 
1,436,800
102,946,720
CBRE Group, Inc. (a)
 
1,430,600
122,487,972
Equifax, Inc.
 
579,400
121,042,454
Intercontinental Exchange, Inc.
 
1,100,400
112,229,796
Marsh & McLennan Companies, Inc.
 
1,199,928
196,740,195
Moody's Corp.
 
381,500
118,360,375
Pool Corp.
 
141,000
50,435,700
S&P Global, Inc.
 
457,151
172,313,926
TOTAL UNITED STATES OF AMERICA
 
 
996,557,138
 
TOTAL COMMON STOCKS
 (Cost $11,803,222,208)
 
 
 
13,324,566,018
 
 
 
 
Nonconvertible Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
Sweden - 0.1%
 
 
 
Kry International AB Series E (a)(d)(e)
  (Cost $11,754,376)
 
25,711
5,817,670
 
 
 
 
Money Market Funds - 1.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 2.01% (f)
 
258,538,126
258,589,833
Fidelity Securities Lending Cash Central Fund 2.01% (f)(g)
 
587,581
587,640
 
TOTAL MONEY MARKET FUNDS
 (Cost $259,177,473)
 
 
259,177,473
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.2%
 (Cost $12,074,154,057)
 
 
 
13,589,561,161
NET OTHER ASSETS (LIABILITIES) - (0.2)%  
(25,321,850)
NET ASSETS - 100.0%
13,564,239,311
 
 
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)
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 $262,815,150 or 1.9% of net assets.
 
(d)
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues).  At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $6,824,805 or 0.1% of net assets.
 
(e)
Level 3 security
 
(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.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Kry International AB
5/14/21
1,933,095
Kry International AB Series E
5/14/21
11,754,376
 
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%
344,150,559
3,633,090,085
3,718,650,811
1,481,876
-
-
258,589,833
0.5%
Fidelity Securities Lending Cash Central Fund 2.01%
-
1,395,878,669
1,395,291,029
833,438
-
-
587,640
0.0%
Total
344,150,559
5,028,968,754
5,113,941,840
2,315,314
-
-
259,177,473
 
 
 
 
 
 
 
 
 
 
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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