NPORT-EX 2 QTLY_2369_20220731.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Total Emerging Markets Fund
July 31, 2022
TEK-NPRT3-0922
1.931233.110
Common Stocks - 63.6%
 
  
Shares
Value ($)
 
Belgium - 0.2%
 
  
  
Titan Cement International Trading SA
 
51,700
590,751
Bermuda - 0.9%
 
  
  
China Gas Holdings Ltd.
 
369,744
568,989
Credicorp Ltd. (United States)
 
7,379
954,843
Huanxi Media Group Ltd. (a)
  
1,866,596
299,610
Kerry Properties Ltd.
 
106,500
256,146
Kunlun Energy Co. Ltd.
 
634,040
466,853
Pacific Basin Shipping Ltd.
 
581,000
276,811
Shangri-La Asia Ltd. (a)
  
170,000
138,817
TOTAL BERMUDA
  
  
2,962,069
Brazil - 2.7%
 
  
  
Arezzo Industria e Comercio SA
 
17,674
270,365
Atacadao SA
 
347,700
1,251,938
Dexco SA
 
240,230
452,686
ENGIE Brasil Energia SA
 
44,800
383,745
Equatorial Energia SA
 
144,700
693,842
Localiza Rent A Car SA
 
110,140
1,226,332
LOG Commercial Properties e Participacoes SA
 
49,300
199,331
Lojas Renner SA
 
86,344
422,033
Natura & Co. Holding SA (a)
  
82,718
249,076
Rede D'Oregon Sao Luiz SA (b)
  
72,602
454,490
Rumo SA
 
221,600
751,215
Suzano Papel e Celulose SA
 
67,100
626,246
Transmissora Alianca de Energia Eletrica SA unit
 
56,700
443,378
Vale SA sponsored ADR
 
104,468
1,406,139
TOTAL BRAZIL
  
  
8,830,816
British Virgin Islands - 0.0%
 
  
  
Fix Price Group Ltd. GDR (Reg. S) (c)
  
68,238
25,202
Canada - 0.5%
 
  
  
Barrick Gold Corp.
 
103,900
1,635,386
Cayman Islands - 14.9%
 
  
  
Akeso, Inc. (a)(b)(d)
  
45,665
122,163
Alibaba Group Holding Ltd. (a)
  
542,653
6,101,302
Alibaba Group Holding Ltd. sponsored ADR (a)
  
4,386
391,977
Angelalign Technology, Inc. (b)(d)
  
8,035
145,246
Ant International Co. Ltd. Class C (a)(c)(e)
  
424,550
802,400
Antengene Corp. (a)(b)
  
144,141
95,300
Archosaur Games, Inc. (b)
  
22,936
14,229
Baidu, Inc. sponsored ADR (a)
  
2,808
383,489
BeiGene Ltd. ADR (a)
  
319
53,618
Bilibili, Inc. ADR (a)
  
54,702
1,336,917
BizLink Holding, Inc.
 
26,000
279,525
Chailease Holding Co. Ltd.
 
240,144
1,702,334
China Resources Land Ltd.
 
78,510
327,546
CIFI Holdings Group Co. Ltd.
 
367,939
99,837
CK Asset Holdings Ltd.
 
16,000
113,021
Daqo New Energy Corp. ADR (a)
  
863
55,836
ENN Energy Holdings Ltd.
 
60,400
984,109
ESR Cayman Ltd. (a)(b)
  
64,400
166,950
GDS Holdings Ltd.:
  
  
  
 ADR (a)(d)
  
5,500
152,240
 Class A (a)
  
5,792
19,839
GlobalFoundries, Inc.
 
2,625
135,135
Greentown China Holdings Ltd.
 
81,500
160,926
Haitian International Holdings Ltd.
 
173,000
415,205
Hansoh Pharmaceutical Group Co. Ltd. (b)
  
187,036
364,546
Innovent Biologics, Inc. (a)(b)
  
75,194
313,711
Jacobio Pharmaceuticals Group Co. Ltd. (a)(b)
  
164,568
90,566
JD Health International, Inc. (a)(b)
  
21,995
166,716
JD.com, Inc.:
  
  
  
 Class A
 
61,939
1,847,798
 sponsored ADR
 
13,377
795,932
KE Holdings, Inc. ADR (a)
  
10,500
148,155
Kuaishou Technology Class B (a)(b)
  
38,404
386,491
KWG Group Holdings Ltd.
 
44,000
8,912
Li Ning Co. Ltd.
 
224,515
1,819,024
Longfor Properties Co. Ltd. (b)
  
65,500
218,614
Medlive Technology Co. Ltd. (b)
  
96,320
122,457
Meituan Class B (a)(b)
  
179,223
4,020,573
NetEase, Inc. ADR
 
14,144
1,315,109
PagSeguro Digital Ltd. (a)
  
111,511
1,209,894
Parade Technologies Ltd.
 
6,968
261,556
Pinduoduo, Inc. ADR (a)
  
51,457
2,521,908
Sea Ltd. ADR (a)
  
35,971
2,745,307
Silergy Corp.
 
27,716
517,012
SITC International Holdings Co. Ltd.
 
100,000
339,495
StoneCo Ltd. Class A (a)
  
46,576
446,198
Sunny Optical Technology Group Co. Ltd.
 
16,411
221,813
Tencent Holdings Ltd.
 
214,377
8,285,416
Tencent Music Entertainment Group ADR (a)
  
19,730
83,063
Tongdao Liepin Group (a)
  
74,063
95,292
Trip.com Group Ltd. ADR (a)
  
43,706
1,126,741
Uni-President China Holdings Ltd.
 
326,600
298,312
Wuxi Biologics (Cayman), Inc. (a)(b)
  
160,812
1,539,311
Xiaomi Corp. Class B (a)(b)
  
33,686
52,954
Xinyi Solar Holdings Ltd.
 
196,443
333,832
XP, Inc. Class A (a)
  
67,835
1,431,319
XPeng, Inc. ADR (a)
  
45,396
1,109,024
Zai Lab Ltd. (a)
  
95,934
391,685
Zai Lab Ltd. ADR (a)
  
692
28,047
TOTAL CAYMAN ISLANDS
  
  
48,715,927
Chile - 0.9%
 
  
  
Banco de Chile
 
9,801,800
930,034
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR
 
20,221
1,989,140
TOTAL CHILE
  
  
2,919,174
China - 5.8%
 
  
  
Asymchem Laboratories Tianjin Co. Ltd. (H Shares) (b)
  
6,172
84,286
Bafang Electric Suzhou Co. Ltd. (A Shares)
 
12,145
315,565
Beijing Enlight Media Co. Ltd. (A Shares)
 
173,300
215,010
BYD Co. Ltd. (H Shares)
 
13,500
493,911
C&S Paper Co. Ltd. (A Shares)
 
332,500
552,672
China Communications Services Corp. Ltd. (H Shares)
 
764,000
311,443
China Construction Bank Corp. (H Shares)
 
4,977,000
3,178,366
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
36,600
74,397
China Petroleum & Chemical Corp. (H Shares)
 
2,260,000
1,065,492
China Tower Corp. Ltd. (H Shares) (b)
  
1,367,520
175,951
Contemporary Amperex Technology Co. Ltd.
 
1,956
148,467
Daqin Railway Co. Ltd. (A Shares)
 
652,000
585,200
Flat Glass Group Co. Ltd. (a)(d)
  
51,049
185,339
Gemdale Corp. (A Shares)
 
34,058
59,199
Haier Smart Home Co. Ltd.
 
238,200
762,362
Haier Smart Home Co. Ltd. (A Shares)
 
12,560
46,232
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
9,366
97,179
Hongfa Technology Co. Ltd. (A Shares)
 
84,106
512,790
LONGi Green Energy Technology Co. Ltd.
 
17,146
156,934
Pharmaron Beijing Co. Ltd. (H Shares) (b)
  
28,754
234,247
Ping An Insurance Group Co. of China Ltd. (H Shares)
 
433,000
2,544,758
Poly Developments & Holdings (A Shares)
 
25,300
62,512
Proya Cosmetics Co. Ltd. (A Shares)
 
77,840
2,035,382
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
17,929
770,952
Sinopec Engineering Group Co. Ltd. (H Shares)
 
506,000
217,228
Sinopharm Group Co. Ltd. (H Shares)
 
131,061
300,526
TravelSky Technology Ltd. (H Shares)
 
231,000
383,141
Tsingtao Brewery Co. Ltd. (H Shares)
 
202,000
1,972,420
Venus MedTech Hangzhou, Inc. (H Shares) (a)(b)
  
54,918
98,644
Will Semiconductor Ltd.
 
5,670
88,691
WuXi AppTec Co. Ltd. (H Shares) (b)
  
26,729
323,476
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
7,374
212,369
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares)
 
145,800
625,926
TOTAL CHINA
  
  
18,891,067
Cyprus - 0.0%
 
  
  
TCS Group Holding PLC GDR (a)(c)
  
56,395
70,750
Germany - 0.5%
 
  
  
Delivery Hero AG (a)(b)
  
31,061
1,498,581
Greece - 0.4%
 
  
  
Alpha Bank SA (a)
  
1,241,400
1,097,489
Piraeus Financial Holdings SA (a)
  
300,300
271,871
TOTAL GREECE
  
  
1,369,360
Hong Kong - 1.1%
 
  
  
AIA Group Ltd.
 
105,200
1,056,908
China Merchants Holdings International Co. Ltd.
 
203,924
328,880
China Overseas Land and Investment Ltd.
 
110,540
304,869
China Resources Beer Holdings Co. Ltd.
 
210,666
1,454,553
Guangdong Investment Ltd.
 
378,000
368,374
Sino-Ocean Group Holding Ltd.
 
569,000
92,056
TOTAL HONG KONG
  
  
3,605,640
Hungary - 0.1%
 
  
  
Richter Gedeon PLC
 
17,860
364,489
India - 9.8%
 
  
  
Adani Ports & Special Economic Zone Ltd.
 
99,666
962,256
Apollo Hospitals Enterprise Ltd.
 
10,783
574,853
Bajaj Finance Ltd.
 
18,264
1,669,731
Bandhan Bank Ltd. (b)
  
429,300
1,502,205
Bharat Electronics Ltd.
 
204,700
711,271
CE Info Systems Ltd.
 
7,322
122,127
Delhivery Private Ltd.
 
21,682
174,376
Divi's Laboratories Ltd.
 
6,855
332,159
Embassy Office Parks (REIT)
 
22,100
101,486
HDFC Bank Ltd.
 
253,896
4,631,169
HDFC Standard Life Insurance Co. Ltd. (b)
  
153,900
1,080,508
Indraprastha Gas Ltd.
 
103,293
452,206
Indus Towers Ltd.
 
19,200
54,025
Infosys Ltd.
 
33,274
651,972
Infosys Ltd. sponsored ADR
 
145,495
2,835,698
ITC Ltd.
 
287,813
1,102,489
JK Cement Ltd.
 
42,074
1,332,973
Larsen & Toubro Ltd.
 
53,669
1,228,638
Mahanagar Gas Ltd.
 
30,439
289,670
Manappuram General Finance & Leasing Ltd.
 
443,251
551,691
Maruti Suzuki India Ltd.
 
7,532
837,208
NTPC Ltd.
 
405,384
783,116
Oberoi Realty Ltd.
 
15,770
181,705
Oil & Natural Gas Corp. Ltd.
 
401,500
680,811
Petronet LNG Ltd.
 
105,206
292,477
Power Grid Corp. of India Ltd.
 
395,610
1,070,125
Reliance Industries Ltd.
 
128,213
4,073,117
Shree Cement Ltd.
 
3,351
868,767
Sun Pharmaceutical Industries Ltd.
 
14,450
172,153
Tata Motors Ltd. (a)
  
94,274
537,290
Tata Steel Ltd.
 
1,099,000
1,494,121
Torrent Pharmaceuticals Ltd.
 
13,688
264,419
Vijaya Diagnostic Centre Pvt Ltd.
 
16,116
69,598
Voltas Ltd.
 
26,699
339,388
TOTAL INDIA
  
  
32,025,798
Indonesia - 1.3%
 
  
  
PT Astra International Tbk
 
563,700
240,755
PT Bank Central Asia Tbk
 
3,358,500
1,670,048
PT Bank Rakyat Indonesia (Persero) Tbk
 
6,061,279
1,789,246
PT Dayamitra Telekomunikasi Tbk
 
851,700
41,929
PT United Tractors Tbk
 
161,900
353,818
TOTAL INDONESIA
  
  
4,095,796
Japan - 0.5%
 
  
  
Capcom Co. Ltd.
 
5,547
154,193
JTOWER, Inc. (a)
  
2,399
119,247
Money Forward, Inc. (a)
  
4,760
123,414
Renesas Electronics Corp. (a)
  
29,222
278,335
Sumco Corp.
 
12,497
174,867
Z Holdings Corp.
 
240,908
851,426
TOTAL JAPAN
  
  
1,701,482
Korea (South) - 8.1%
 
  
  
AMOREPACIFIC Group, Inc.
 
12,959
367,387
Coway Co. Ltd.
 
10,860
533,734
Hana Financial Group, Inc.
 
48,410
1,382,069
Hanon Systems
 
36,400
297,659
Hyundai Fire & Marine Insurance Co. Ltd.
 
18,260
459,538
Kakao Corp.
 
16,957
975,540
Kakao Pay Corp. (a)
  
3,068
148,316
KB Financial Group, Inc.
 
59,578
2,207,528
Kia Corp.
 
17,789
1,109,555
Korea Zinc Co. Ltd.
 
1,129
413,506
L&F Co. Ltd. (a)
  
300
52,888
LG Chemical Ltd.
 
1,263
586,047
LG Corp.
 
8,870
551,556
LG Electronics, Inc.
 
2,810
204,201
LG Innotek Co. Ltd.
 
273
76,257
NAVER Corp.
 
3,351
667,830
NCSOFT Corp.
 
1,206
345,174
Netmarble Corp. (b)
  
1,324
73,358
POSCO
 
10,082
1,875,847
S-Oil Corp.
 
7,290
517,653
Samsung Biologics Co. Ltd. (a)(b)
  
1,573
1,043,803
Samsung Electronics Co. Ltd.
 
186,411
8,790,773
Samsung SDI Co. Ltd.
 
2,218
971,272
SK Hynix, Inc.
 
36,932
2,781,494
Studio Dragon Corp. (a)
  
2,126
124,799
TOTAL KOREA (SOUTH)
  
  
26,557,784
Luxembourg - 0.3%
 
  
  
Adecoagro SA
 
5,500
45,100
Globant SA (a)
  
1,409
280,729
Tenaris SA sponsored ADR
 
21,800
611,708
TOTAL LUXEMBOURG
  
  
937,537
Mauritius - 0.0%
 
  
  
Jumo World Ltd. (c)
  
30
133,143
Mexico - 2.0%
 
  
  
CEMEX S.A.B. de CV sponsored ADR (a)
  
458,100
1,836,981
Corporacion Inmobiliaria Vesta S.A.B. de CV
 
153,955
303,220
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
54,600
740,303
Grupo Aeroportuario del Sureste S.A.B. de CV Series B sponsored ADR
 
200
37,562
Grupo Aeroportuario Norte S.A.B. de CV
 
38,700
235,725
Grupo Financiero Banorte S.A.B. de CV Series O
 
446,621
2,541,197
Wal-Mart de Mexico SA de CV Series V
 
186,300
674,813
TOTAL MEXICO
  
  
6,369,801
Netherlands - 0.2%
 
  
  
ASML Holding NV (Netherlands)
 
231
132,769
CTP BV (b)
  
11,272
144,468
NXP Semiconductors NV
 
791
145,449
X5 Retail Group NV GDR (Reg. S) (c)
  
77,500
16,181
Yandex NV Series A (a)(c)
  
94,069
322,642
TOTAL NETHERLANDS
  
  
761,509
Panama - 0.1%
 
  
  
Copa Holdings SA Class A (a)
  
4,611
309,951
Philippines - 0.2%
 
  
  
Ayala Land, Inc.
 
396,300
181,121
SM Investments Corp.
 
24,000
336,547
TOTAL PHILIPPINES
  
  
517,668
Poland - 0.1%
 
  
  
CD Projekt RED SA (d)
  
13,204
258,612
Russia - 0.0%
 
  
  
Gazprom OAO sponsored ADR (Reg. S) (c)
  
155,600
35,545
LSR Group OJSC (a)(c)
  
755
1,133
LUKOIL PJSC sponsored ADR (c)
  
35,200
9,958
Novatek PJSC GDR (Reg. S) (c)
  
9,100
2,325
Sberbank of Russia (a)(c)
  
30
0
Sberbank of Russia sponsored ADR (a)(c)
  
324,104
5,769
Severstal PAO GDR (Reg. S) (c)
  
83,700
1,976
TOTAL RUSSIA
  
  
56,706
Saudi Arabia - 2.3%
 
  
  
Al Rajhi Bank
 
88,714
2,116,287
Alinma Bank
 
121,500
1,230,851
Saudi Arabian Oil Co. (b)
  
100,570
1,063,000
Saudi Tadawul Group Holding Co.
 
14,800
870,820
The Saudi National Bank
 
111,400
2,079,111
TOTAL SAUDI ARABIA
  
  
7,360,069
Singapore - 0.4%
 
  
  
First Resources Ltd.
 
456,100
456,641
United Overseas Bank Ltd.
 
36,500
728,224
TOTAL SINGAPORE
  
  
1,184,865
South Africa - 1.9%
 
  
  
Capitec Bank Holdings Ltd.
 
9,050
1,084,709
FirstRand Ltd.
 
353,107
1,392,669
Impala Platinum Holdings Ltd.
 
176,000
1,951,403
Naspers Ltd. Class N
 
3,900
551,017
Pick 'n Pay Stores Ltd.
 
358,000
1,187,302
TOTAL SOUTH AFRICA
  
  
6,167,100
Taiwan - 6.2%
 
  
  
ECLAT Textile Co. Ltd.
 
24,000
327,081
eMemory Technology, Inc.
 
5,049
200,063
GlobalWafers Co. Ltd.
 
9,854
148,790
MediaTek, Inc.
 
62,523
1,435,883
Taiwan Semiconductor Manufacturing Co. Ltd.
 
962,116
16,446,585
Unified-President Enterprises Corp.
 
364,000
854,138
Unimicron Technology Corp.
 
60,811
323,361
United Microelectronics Corp.
 
112,087
150,299
Wiwynn Corp.
 
12,211
301,082
TOTAL TAIWAN
  
  
20,187,282
Thailand - 0.2%
 
  
  
Land & House PCL (For. Reg.)
 
447,800
104,300
PTT Global Chemical PCL (For. Reg.)
 
476,400
580,963
TOTAL THAILAND
  
  
685,263
Turkey - 0.2%
 
  
  
Bim Birlesik Magazalar A/S JSC
 
96,000
493,489
United Kingdom - 0.4%
 
  
  
Helios Towers PLC (a)
  
97,600
171,511
Prudential PLC
 
88,335
1,089,558
TOTAL UNITED KINGDOM
  
  
1,261,069
United States of America - 1.4%
 
  
  
Airbnb, Inc. Class A (a)
  
1,200
133,176
Dlocal Ltd. (a)
  
14,727
409,116
FirstCash Holdings, Inc.
 
22,301
1,633,771
Legend Biotech Corp. ADR (a)
  
3,581
169,166
Li Auto, Inc. ADR (a)
  
50,341
1,653,198
Marvell Technology, Inc.
 
3,337
185,804
NVIDIA Corp.
 
966
175,455
Snap, Inc. Class A (a)
  
32,258
318,709
TOTAL UNITED STATES OF AMERICA
  
  
4,678,395
 
TOTAL COMMON STOCKS
 (Cost $195,412,063)
  
  
  
207,222,531
 
  
  
  
Preferred Stocks - 1.8%
 
  
Shares
Value ($)
 
Convertible Preferred Stocks - 0.3%
 
  
  
Cayman Islands - 0.1%
  
  
  
Creditas Financial Solutions Ltd. Series F (c)(e)
  
1,073
342,405
China - 0.0%
  
  
  
dMed Biopharmaceutical Co. Ltd. Series C (a)(c)(e)
  
11,962
107,299
India - 0.2%
  
  
  
Meesho Series F (c)(e)
  
7,108
484,268
TOTAL CONVERTIBLE PREFERRED STOCKS
  
  
933,972
Nonconvertible Preferred Stocks - 1.5%
 
  
  
Brazil - 1.3%
  
  
  
Ambev SA sponsored ADR
 
553,300
1,560,306
Companhia de Transmissao de Energia Eletrica Paulista (PN)
 
42,900
188,959
Metalurgica Gerdau SA (PN)
 
493,970
976,655
Petroleo Brasileiro SA - Petrobras:
  
  
  
 (PN) sponsored ADR (non-vtg.)
 
62,006
814,139
 sponsored ADR
 
45,200
645,456
 
  
  
4,185,515
Korea (South) - 0.2%
  
  
  
Hyundai Motor Co. Series 2
 
8,594
622,766
United States of America - 0.0%
  
  
  
Gupshup, Inc. (a)(c)(e)
  
8,409
155,314
TOTAL NONCONVERTIBLE PREFERRED STOCKS
  
  
4,963,595
 
TOTAL PREFERRED STOCKS
 (Cost $4,800,600)
  
  
  
5,897,567
 
  
  
  
Nonconvertible Bonds - 14.2%
 
  
Principal
Amount (f)
 
Value ($)
 
Azerbaijan - 0.3%
 
  
  
Southern Gas Corridor CJSC 6.875% 3/24/26 (b)
  
595,000
629,543
State Oil Co. of Azerbaijan Republic 6.95% 3/18/30 (Reg. S)
 
350,000
341,121
TOTAL AZERBAIJAN
  
  
970,664
Bahrain - 0.6%
 
  
  
The Oil and Gas Holding Co.:
  
  
  
 7.5% 10/25/27 (b)
  
1,580,000
1,576,037
 7.625% 11/7/24 (b)
  
400,000
403,700
TOTAL BAHRAIN
  
  
1,979,737
Bailiwick of Jersey - 0.3%
 
  
  
Galaxy Pipeline Assets BidCo Ltd.:
  
  
  
 2.16% 3/31/34 (b)
  
432,387
377,798
 2.625% 3/31/36 (b)
  
570,000
477,375
TOTAL BAILIWICK OF JERSEY
  
  
855,173
Bermuda - 0.6%
 
  
  
GeoPark Ltd. 5.5% 1/17/27 (b)
  
700,000
597,319
Investment Energy Resources Ltd. 6.25% 4/26/29 (b)
  
510,000
467,064
Qtel International Finance Ltd. 2.625% 4/8/31 (b)
  
495,000
447,975
Tengizchevroil Finance Co. International Ltd. 3.25% 8/15/30 (b)
  
550,000
400,125
TOTAL BERMUDA
  
  
1,912,483
Brazil - 0.1%
 
  
  
Natura Cosmeticos SA 4.125% 5/3/28 (b)
  
435,000
365,944
British Virgin Islands - 0.1%
 
  
  
ENN Clean Energy International Investment Ltd. 3.375% 5/12/26 (b)
  
395,000
334,219
Canada - 0.1%
 
  
  
Gcm Mining Corp. 6.875% 8/9/26 (b)
  
400,000
298,000
Cayman Islands - 1.0%
 
  
  
DP World Crescent Ltd.:
  
  
  
 3.875% 7/18/29 (Reg. S)
 
700,000
670,460
 4.848% 9/26/28 (b)
  
400,000
403,575
Lamar Funding Ltd. 3.958% 5/7/25 (b)
  
430,000
411,537
Meituan 2.125% 10/28/25 (b)
  
640,000
573,440
NagaCorp Ltd. 7.95% 7/6/24 (Reg. S)
 
400,000
359,950
Sable International Finance Ltd. 5.75% 9/7/27 (b)
  
600,000
529,500
Termocandelaria Power Ltd. 7.875% 1/30/29 (b)
  
454,750
402,255
TOTAL CAYMAN ISLANDS
  
  
3,350,717
Chile - 0.6%
 
  
  
Corporacion Nacional del Cobre de Chile (Codelco):
  
  
  
 3.7% 1/30/50 (b)
  
300,000
234,619
 3.75% 1/15/31 (b)
  
300,000
282,750
 4.25% 7/17/42 (b)
  
500,000
425,719
 4.5% 8/1/47 (b)
  
250,000
222,469
Empresa Nacional de Petroleo 4.5% 9/14/47 (b)
  
440,000
321,695
VTR Comunicaciones SpA 5.125% 1/15/28 (b)
  
400,000
290,950
TOTAL CHILE
  
  
1,778,202
Colombia - 0.1%
 
  
  
Oleoducto Central SA 4% 7/14/27 (b)
  
350,000
296,581
Guatemala - 0.1%
 
  
  
CT Trust 5.125% 2/3/32 (b)
  
440,000
385,440
Hong Kong - 0.1%
 
  
  
Lenovo Group Ltd. 3.421% 11/2/30 (b)
  
495,000
411,523
Indonesia - 0.8%
 
  
  
PT Freeport Indonesia:
  
  
  
 5.315% 4/14/32 (b)
  
250,000
232,813
 6.2% 4/14/52 (b)
  
200,000
176,500
PT Hutama Karya Persero 3.75% 5/11/30 (b)
  
600,000
557,550
PT Indonesia Asahan Aluminium Tbk:
  
  
  
 4.75% 5/15/25 (b)
  
485,000
486,872
 5.45% 5/15/30 (b)
  
400,000
379,950
PT Pertamina Persero:
  
  
  
 4.15% 2/25/60 (b)
  
365,000
280,890
 4.175% 1/21/50 (b)
  
450,000
364,303
TOTAL INDONESIA
  
  
2,478,878
Ireland - 0.0%
 
  
  
SUEK Securities DAC 3.375% 9/15/26 (b)(c)(g)
  
535,000
26,750
Kazakhstan - 0.2%
 
  
  
KazMunaiGaz National Co.:
  
  
  
 3.5% 4/14/33 (b)
  
400,000
300,600
 5.375% 4/24/30 (b)
  
250,000
228,797
TOTAL KAZAKHSTAN
  
  
529,397
Luxembourg - 0.5%
 
  
  
Adecoagro SA 6% 9/21/27 (b)
  
480,000
432,000
B2W Digital Lux SARL 4.375% 12/20/30 (b)
  
385,000
288,365
EIG Pearl Holdings SARL 3.545% 8/31/36 (b)
  
590,000
520,675
MC Brazil Downstream Trading SARL 7.25% 6/30/31 (b)
  
385,000
308,000
TOTAL LUXEMBOURG
  
  
1,549,040
Malaysia - 0.4%
 
  
  
MISC Capital Two (Labuan) Ltd. 3.75% 4/6/27 (b)
  
380,000
361,483
Petronas Capital Ltd.:
  
  
  
 3.5% 4/21/30 (b)
  
450,000
442,049
 4.55% 4/21/50 (b)
  
400,000
395,692
TOTAL MALAYSIA
  
  
1,199,224
Mauritius - 0.3%
 
  
  
AXIAN Telecom 7.375% 2/16/27 (b)
  
355,000
315,950
CA Magnum Holdings 5.375% (b)(h)
  
400,000
352,000
HTA Group Ltd. 7% 12/18/25 (b)
  
400,000
355,200
TOTAL MAURITIUS
  
  
1,023,150
Mexico - 2.6%
 
  
  
Comision Federal de Electricid:
  
  
  
 3.348% 2/9/31 (b)
  
450,000
359,381
 4.688% 5/15/29 (b)
  
390,000
359,726
Petroleos Mexicanos:
  
  
  
 5.35% 2/12/28
 
320,000
266,720
 6.49% 1/23/27
 
890,000
805,339
 6.5% 3/13/27
 
185,000
167,129
 6.5% 6/2/41
 
1,170,000
795,308
 6.625% 6/15/35
 
1,675,000
1,219,568
 6.7% 2/16/32
 
415,000
330,859
 6.75% 9/21/47
 
960,000
651,120
 6.84% 1/23/30
 
520,000
438,043
 6.875% 10/16/25
 
150,000
146,685
 6.95% 1/28/60
 
2,175,000
1,468,125
 7.69% 1/23/50
 
2,044,000
1,481,900
TOTAL MEXICO
  
  
8,489,903
Morocco - 0.1%
 
  
  
OCP SA 3.75% 6/23/31 (b)
  
535,000
446,056
Multi-National - 0.2%
 
  
  
GEMS MENASA Cayman Ltd. 7.125% 7/31/26 (b)
  
690,000
643,425
Netherlands - 0.7%
 
  
  
Kazakhstan Temir Zholy Finance BV 6.95% 7/10/42 (b)
  
250,000
211,250
Mong Duong Finance Holdings BV 5.125% 5/7/29 (b)
  
890,000
723,292
Prosus NV:
  
  
  
 3.68% 1/21/30 (b)
  
400,000
337,950
 3.832% 2/8/51 (b)
  
425,000
287,938
 4.027% 8/3/50 (b)
  
350,000
238,503
 4.193% 1/19/32 (b)
  
445,000
380,920
TOTAL NETHERLANDS
  
  
2,179,853
Panama - 0.3%
 
  
  
Aeropuerto Internacional de Tocumen SA:
  
  
  
 4% 8/11/41 (b)
  
490,000
407,098
 5.125% 8/11/61 (b)
  
200,000
165,975
Cable Onda SA 4.5% 1/30/30 (b)
  
580,000
516,925
TOTAL PANAMA
  
  
1,089,998
Peru - 0.2%
 
  
  
Camposol SA 6% 2/3/27 (b)
  
500,000
403,250
Compania de Minas Buenaventura SA 5.5% 7/23/26 (b)
  
165,000
141,900
TOTAL PERU
  
  
545,150
Qatar - 0.6%
 
  
  
Qatar Petroleum:
  
  
  
 1.375% 9/12/26 (b)
  
425,000
393,125
 2.25% 7/12/31 (b)
  
700,000
626,500
 3.125% 7/12/41 (b)
  
650,000
547,544
 3.3% 7/12/51 (b)
  
380,000
317,015
TOTAL QATAR
  
  
1,884,184
Saudi Arabia - 0.7%
 
  
  
Saudi Arabian Oil Co.:
  
  
  
 3.5% 4/16/29 (b)
  
450,000
439,875
 4.25% 4/16/39 (b)
  
1,980,000
1,920,600
TOTAL SAUDI ARABIA
  
  
2,360,475
Singapore - 0.2%
 
  
  
Medco Bell Pte Ltd. 6.375% 1/30/27 (b)
  
730,000
648,788
South Africa - 0.6%
 
  
  
Eskom Holdings SOC Ltd.:
  
  
  
 6.75% 8/6/23 (b)
  
1,425,000
1,411,017
 7.125% 2/11/25 (b)
  
650,000
604,825
TOTAL SOUTH AFRICA
  
  
2,015,842
Spain - 0.1%
 
  
  
EnfraGen Energia Sur SA 5.375% 12/30/30 (b)
  
690,000
469,200
Thailand - 0.1%
 
  
  
PTT Treasury Center Co. Ltd. 3.7% 7/16/70 (b)
  
350,000
247,253
United Arab Emirates - 0.1%
 
  
  
Abu Dhabi National Energy Co. PJSC 4% 10/3/49 (b)
  
515,000
474,058
United Kingdom - 0.7%
 
  
  
Antofagasta PLC 2.375% 10/14/30 (b)
  
450,000
355,500
Endeavour Mining PLC 5% 10/14/26 (b)
  
405,000
331,088
Liquid Telecommunications Financing PLC 5.5% 9/4/26 (b)
  
400,000
348,825
NAK Naftogaz Ukraine 7.375% 7/19/23 (Reg. S) (g)
  
400,000
100,000
Tullow Oil PLC:
  
  
  
 7% 3/1/25 (b)
  
840,000
680,820
 10.25% 5/15/26 (b)
  
411,000
382,230
TOTAL UNITED KINGDOM
  
  
2,198,463
United States of America - 0.4%
 
  
  
Kosmos Energy Ltd. 7.125% 4/4/26 (b)
  
575,000
500,250
NBM U.S. Holdings, Inc. 6.625% 8/6/29 (b)
  
130,000
126,627
Sasol Financing U.S.A. LLC 5.875% 3/27/24
 
200,000
199,000
Stillwater Mining Co. 4% 11/16/26 (b)
  
690,000
589,950
TOTAL UNITED STATES OF AMERICA
  
  
1,415,827
Uzbekistan - 0.2%
 
  
  
National Bank of Uzbekistan 4.85% 10/21/25 (Reg. S)
 
350,000
308,284
Uzbekneftegaz JSC 4.75% 11/16/28 (b)
  
400,000
283,000
TOTAL UZBEKISTAN
  
  
591,284
Venezuela - 0.2%
 
  
  
Petroleos de Venezuela SA:
  
  
  
 6% 5/16/24 (b)(g)
  
5,700,000
313,500
 6% 11/15/26 (Reg. S) (g)
  
6,800,000
374,000
TOTAL VENEZUELA
  
  
687,500
 
TOTAL NONCONVERTIBLE BONDS
 (Cost $56,367,140)
  
  
  
46,132,381
 
  
  
  
Government Obligations - 17.7%
 
  
Principal
Amount (f)
 
Value ($)
 
Angola - 0.6%
 
  
  
Angola Republic:
  
  
  
 8.25% 5/9/28 (b)
  
1,020,000
856,800
 8.75% 4/14/32 (b)
  
200,000
161,500
 9.5% 11/12/25 (b)
  
1,155,000
1,074,150
TOTAL ANGOLA
  
  
2,092,450
Argentina - 0.8%
 
  
  
Argentine Republic:
  
  
  
 0.5% 7/9/30 (i)
  
3,025,365
713,986
 1% 7/9/29
 
498,666
116,189
 1.5% 7/9/35 (i)
  
3,922,734
870,847
 3.875% 1/9/38 (i)
  
2,011,834
564,319
Buenos Aires Province 3.9% 9/1/37 (b)(i)
  
1,030,000
310,803
TOTAL ARGENTINA
  
  
2,576,144
Armenia - 0.1%
 
  
  
Republic of Armenia 7.15% 3/26/25 (b)
  
370,000
367,988
Barbados - 0.1%
 
  
  
Barbados Government 6.5% 10/1/29 (b)
  
310,000
285,029
Benin - 0.2%
 
  
  
Republic of Benin:
  
  
  
 4.875% 1/19/32 (b)
EUR
340,000
244,290
 5.75% 3/26/26 (b)
EUR
450,000
436,581
 6.875% 1/19/52 (b)
EUR
100,000
67,506
TOTAL BENIN
  
  
748,377
Brazil - 0.5%
 
  
  
Brazilian Federative Republic:
  
  
  
 3.875% 6/12/30
 
1,390,000
1,249,089
 4.75% 1/14/50
 
505,000
379,476
TOTAL BRAZIL
  
  
1,628,565
Cameroon - 0.1%
 
  
  
Cameroon Republic 5.95% 7/7/32 (b)
EUR
360,000
245,668
Chile - 0.5%
 
  
  
Chilean Republic:
  
  
  
 2.45% 1/31/31
 
785,000
694,382
 2.75% 1/31/27
 
220,000
209,550
 3.5% 1/31/34
 
280,000
256,760
 4% 1/31/52
 
200,000
172,700
 4.34% 3/7/42
 
200,000
184,000
TOTAL CHILE
  
  
1,517,392
Colombia - 0.8%
 
  
  
Colombian Republic:
  
  
  
 3% 1/30/30
 
915,000
737,604
 3.125% 4/15/31
 
548,000
432,852
 5% 6/15/45
 
805,000
585,788
 5.2% 5/15/49
 
185,000
136,125
 6.125% 1/18/41
 
200,000
167,975
 7.375% 9/18/37
 
650,000
635,903
TOTAL COLOMBIA
  
  
2,696,247
Costa Rica - 0.1%
 
  
  
Costa Rican Republic:
  
  
  
 5.625% 4/30/43 (b)
  
250,000
191,375
 6.125% 2/19/31 (b)
  
265,000
254,450
TOTAL COSTA RICA
  
  
445,825
Dominican Republic - 1.0%
 
  
  
Dominican Republic:
  
  
  
 4.5% 1/30/30 (b)
  
715,000
614,140
 4.875% 9/23/32 (b)
  
870,000
728,788
 5.875% 1/30/60 (b)
  
680,000
514,590
 6% 7/19/28 (b)
  
400,000
384,950
 6% 2/22/33 (b)
  
425,000
384,306
 6.5% 2/15/48 (b)
  
200,000
166,100
 6.85% 1/27/45 (b)
  
350,000
307,409
TOTAL DOMINICAN REPUBLIC
  
  
3,100,283
Ecuador - 0.4%
 
  
  
Ecuador Republic:
  
  
  
 1% 7/31/35 (b)
  
1,385,256
627,521
 5% 7/31/30 (b)
  
985,630
581,707
TOTAL ECUADOR
  
  
1,209,228
Egypt - 0.8%
 
  
  
Arab Republic of Egypt:
  
  
  
 5.8% 9/30/27 (b)
  
460,000
309,350
 5.875% 2/16/31 (b)
  
400,000
247,000
 7.0529% 1/15/32 (b)
  
890,000
560,700
 7.5% 1/31/27 (b)
  
150,000
109,500
 7.903% 2/21/48 (b)
  
865,000
486,563
 8.5% 1/31/47 (b)
  
1,160,000
672,800
 8.7002% 3/1/49 (b)
  
400,000
233,000
TOTAL EGYPT
  
  
2,618,913
El Salvador - 0.1%
 
  
  
El Salvador Republic:
  
  
  
 7.1246% 1/20/50 (b)
  
560,000
181,055
 7.75% 1/24/23 (b)
  
230,000
199,424
TOTAL EL SALVADOR
  
  
380,479
Gabon - 0.1%
 
  
  
Gabonese Republic 7% 11/24/31 (b)
  
540,000
383,400
Georgia - 0.1%
 
  
  
Georgia Republic 2.75% 4/22/26 (b)
  
505,000
428,871
Ghana - 0.3%
 
  
  
Ghana Republic:
  
  
  
 8.125% 1/18/26 (b)
  
500,000
332,125
 8.627% 6/16/49 (b)
  
615,000
266,295
 10.75% 10/14/30 (b)
  
400,000
321,000
TOTAL GHANA
  
  
919,420
Guatemala - 0.1%
 
  
  
Guatemalan Republic 6.125% 6/1/50 (b)
  
350,000
332,566
Indonesia - 0.8%
 
  
  
Indonesian Republic:
  
  
  
 3.5% 2/14/50
 
680,000
569,840
 3.85% 10/15/30
 
655,000
644,888
 4.2% 10/15/50
 
900,000
828,099
 8.5% 10/12/35 (b)
  
300,000
387,994
TOTAL INDONESIA
  
  
2,430,821
Israel - 0.1%
 
  
  
Israeli State 4.5% 4/3/20
 
405,000
376,059
Ivory Coast - 0.2%
 
  
  
Ivory Coast:
  
  
  
 6.125% 6/15/33 (b)
  
200,000
162,225
 6.375% 3/3/28 (b)
  
635,000
581,025
TOTAL IVORY COAST
  
  
743,250
Jordan - 0.1%
 
  
  
Jordanian Kingdom 7.375% 10/10/47 (b)
  
280,000
222,390
Kenya - 0.3%
 
  
  
Republic of Kenya:
  
  
  
 6.875% 6/24/24 (b)
  
830,000
717,950
 7% 5/22/27 (b)
  
510,000
376,763
TOTAL KENYA
  
  
1,094,713
Lebanon - 0.2%
 
  
  
Lebanese Republic:
  
  
  
 5.8% 12/31/49 (g)
  
1,165,000
74,123
 6.375% 12/31/49 (g)
  
7,090,000
451,101
TOTAL LEBANON
  
  
525,224
Mexico - 0.6%
 
  
  
United Mexican States:
  
  
  
 2.659% 5/24/31
 
400,000
342,600
 3.25% 4/16/30
 
400,000
363,950
 4.35% 1/15/47
 
850,000
686,003
 4.75% 3/8/44
 
450,000
392,147
TOTAL MEXICO
  
  
1,784,700
Mongolia - 0.1%
 
  
  
Mongolia Government:
  
  
  
 3.5% 7/7/27 (b)
  
220,000
176,024
 5.125% 4/7/26 (b)
  
200,000
177,022
TOTAL MONGOLIA
  
  
353,046
Morocco - 0.1%
 
  
  
Moroccan Kingdom:
  
  
  
 2.375% 12/15/27 (b)
  
375,000
324,844
 4% 12/15/50 (b)
  
200,000
134,500
TOTAL MOROCCO
  
  
459,344
Nigeria - 0.4%
 
  
  
Republic of Nigeria:
  
  
  
 6.125% 9/28/28 (b)
  
325,000
232,741
 6.5% 11/28/27 (b)
  
705,000
534,038
 7.143% 2/23/30 (b)
  
850,000
608,813
TOTAL NIGERIA
  
  
1,375,592
Oman - 1.0%
 
  
  
Sultanate of Oman:
  
  
  
 4.75% 6/15/26 (b)
  
450,000
439,313
 5.375% 3/8/27 (b)
  
395,000
389,569
 5.625% 1/17/28 (b)
  
420,000
418,425
 6% 8/1/29 (b)
  
285,000
283,575
 6.25% 1/25/31 (b)
  
690,000
686,550
 6.5% 3/8/47 (b)
  
1,150,000
997,625
TOTAL OMAN
  
  
3,215,057
Pakistan - 0.2%
 
  
  
Islamic Republic of Pakistan:
  
  
  
 6% 4/8/26 (b)
  
880,000
462,097
 6.875% 12/5/27 (b)
  
560,000
287,630
TOTAL PAKISTAN
  
  
749,727
Panama - 0.7%
 
  
  
Panamanian Republic:
  
  
  
 2.252% 9/29/32
 
485,000
387,333
 3.16% 1/23/30
 
660,000
597,218
 3.298% 1/19/33
 
540,000
469,260
 3.87% 7/23/60
 
510,000
369,208
 4.5% 5/15/47
 
405,000
339,137
TOTAL PANAMA
  
  
2,162,156
Paraguay - 0.2%
 
  
  
Republic of Paraguay:
  
  
  
 2.739% 1/29/33 (b)
  
415,000
341,804
 5.4% 3/30/50 (b)
  
415,000
365,018
TOTAL PARAGUAY
  
  
706,822
Peru - 0.7%
 
  
  
Peruvian Republic:
  
  
  
 2.783% 1/23/31
 
1,435,000
1,264,414
 3% 1/15/34
 
260,000
222,820
 3.3% 3/11/41
 
855,000
691,268
TOTAL PERU
  
  
2,178,502
Qatar - 1.2%
 
  
  
State of Qatar:
  
  
  
 3.75% 4/16/30 (b)
  
625,000
639,688
 4.4% 4/16/50 (b)
  
1,730,000
1,764,600
 4.625% 6/2/46 (b)
  
600,000
631,500
 4.817% 3/14/49 (b)
  
855,000
914,850
TOTAL QATAR
  
  
3,950,638
Romania - 0.4%
 
  
  
Romanian Republic:
  
  
  
 3% 2/27/27 (b)
  
334,000
303,898
 3% 2/14/31 (b)
  
574,000
471,146
 3.625% 3/27/32 (b)
  
334,000
275,091
 6.125% 1/22/44 (b)
  
400,000
375,450
TOTAL ROMANIA
  
  
1,425,585
Russia - 0.1%
 
  
  
Ministry of Finance of the Russian Federation 5.1% 3/28/35(Reg. S) (g)
  
600,000
294,000
Rwanda - 0.2%
 
  
  
Rwanda Republic 5.5% 8/9/31 (b)
  
700,000
513,100
Saudi Arabia - 0.1%
 
  
  
Kingdom of Saudi Arabia 2.25% 2/2/33 (b)
  
445,000
392,156
Serbia - 0.1%
 
  
  
Republic of Serbia 2.125% 12/1/30 (b)
  
455,000
335,563
South Africa - 0.1%
 
  
  
South African Republic 4.85% 9/27/27
 
400,000
387,825
Sri Lanka - 0.1%
 
  
  
Democratic Socialist Republic of Sri Lanka:
  
  
  
 6.2% 5/11/27 (b)(g)
  
935,000
275,416
 7.55% 3/28/30 (b)(g)
  
50,000
14,681
 7.85% 3/14/29 (b)(g)
  
165,000
48,448
TOTAL SRI LANKA
  
  
338,545
Turkey - 1.2%
 
  
  
Turkish Republic:
  
  
  
 4.25% 3/13/25
 
365,000
315,908
 4.75% 1/26/26
 
540,000
453,600
 4.875% 10/9/26
 
820,000
670,760
 4.875% 4/16/43
 
1,005,000
598,163
 5.125% 2/17/28
 
470,000
365,660
 5.75% 5/11/47
 
665,000
413,879
 6.125% 10/24/28
 
220,000
175,560
 6.375% 10/14/25
 
290,000
260,329
 8.6% 9/24/27
 
550,000
512,188
TOTAL TURKEY
  
  
3,766,047
Ukraine - 0.3%
 
  
  
Ukraine Government:
  
  
  
 0% 5/31/40 (b)(j)
  
775,000
205,375
 6.876% 5/21/29 (b)
  
200,000
38,700
 7.253% 3/15/33 (b)
  
380,000
71,630
 7.375% 9/25/32 (b)
  
200,000
37,700
 7.75% 9/1/23 (b)
  
830,000
200,030
 7.75% 9/1/24 (b)
  
830,000
172,225
 7.75% 9/1/25 (b)
  
345,000
70,035
 7.75% 9/1/26 (b)
  
560,000
100,800
 7.75% 9/1/27 (b)
  
400,000
72,000
TOTAL UKRAINE
  
  
968,495
United Arab Emirates - 0.4%
 
  
  
Emirate of Abu Dhabi:
  
  
  
 1.7% 3/2/31 (b)
  
350,000
307,300
 3.125% 4/16/30 (b)
  
300,000
295,369
Emirate of Dubai 3.9% 9/9/50 (Reg. S)
 
650,000
471,778
United Arab Emirates 4.05% 7/7/32 (b)
  
200,000
208,500
TOTAL UNITED ARAB EMIRATES
  
  
1,282,947
United States of America - 0.6%
 
  
  
U.S. Treasury Bills, yield at date of purchase 1.6% to 2.44% 9/15/22 to 10/20/22
 
200,000
199,423
U.S. Treasury Bonds 2.875% 5/15/52
 
1,827,000
1,767,052
TOTAL UNITED STATES OF AMERICA
  
  
1,966,475
Uruguay - 0.2%
 
  
  
Uruguay Republic 5.1% 6/18/50
 
730,000
777,587
Uzbekistan - 0.1%
 
  
  
Republic of Uzbekistan:
  
  
  
 3.7% 11/25/30 (b)
  
200,000
148,250
 3.9% 10/19/31 (b)
  
240,000
176,400
TOTAL UZBEKISTAN
  
  
324,650
Venezuela - 0.2%
 
  
  
Venezuelan Republic 9.25% 9/15/27 (g)
  
6,200,000
527,000
Zambia - 0.0%
 
  
  
Republic of Zambia 8.97% 7/30/27 (b)
  
200,000
113,975
 
TOTAL GOVERNMENT OBLIGATIONS
 (Cost $82,347,847)
  
  
  
57,718,836
 
  
  
  
Preferred Securities - 0.8%
 
  
Principal
Amount (f)
 
Value ($)
 
Cayman Islands - 0.3%
 
  
  
Banco Mercantil del Norte SA 6.75% (b)(h)(j)
  
400,000
376,575
DP World Salaam 6% (Reg. S) (h)(j)
  
600,000
601,125
TOTAL CAYMAN ISLANDS
  
  
977,700
Georgia - 0.2%
 
  
  
Georgia Bank Joint Stock Co. 11.125% (Reg. S) (h)(j)
  
700,000
686,000
Mexico - 0.1%
 
  
  
CEMEX S.A.B. de CV 5.125% (b)(h)(j)
  
400,000
334,000
United Arab Emirates - 0.2%
 
  
  
Emirates NBD Bank PJSC 6.125% (Reg. S) (h)(j)
  
400,000
393,500
NBK Tier 1 Financing 2 Ltd. 4.5% (b)(h)(j)
  
400,000
372,825
TOTAL UNITED ARAB EMIRATES
  
  
766,325
 
TOTAL PREFERRED SECURITIES
 (Cost $3,044,675)
  
  
  
2,764,025
 
  
  
  
Money Market Funds - 1.7%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 2.01% (k)
  
4,559,869
4,560,781
Fidelity Securities Lending Cash Central Fund 2.01% (k)(l)
  
903,983
904,073
 
TOTAL MONEY MARKET FUNDS
 (Cost $5,464,557)
  
  
5,464,854
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.8%
 (Cost $347,436,882)
 
  
 
325,200,194
NET OTHER ASSETS (LIABILITIES) - 0.2%  
708,824
NET ASSETS - 100.0%
325,909,018
 
  
Currency Abbreviations
         EUR
-
European Monetary Unit
 
Categorizations in Schedule of Investments are based on country or territory of incorporation.
 
Legend
 
(a)
Non-income producing
 
(b)
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 $85,040,125 or 26.1% of net assets.
 
(c)
Level 3 security
 
(d)
Security or a portion of the security is on loan at period end.
 
(e)
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 $1,891,686 or 0.6% of net assets.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Non-income producing - Security is in default.
 
(h)
Security is perpetual in nature with no stated maturity date.
 
(i)
Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.
 
(j)
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
 
(k)
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.
 
(l)
Investment made with cash collateral received from securities on loan.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Ant International Co. Ltd. Class C
5/16/18
1,618,120
Creditas Financial Solutions Ltd. Series F
1/28/22
337,976
dMed Biopharmaceutical Co. Ltd. Series C
12/01/20
169,898
Gupshup, Inc.
6/08/21
192,273
Meesho Series F
9/21/21
544,986
 
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%
18,857,299
426,114,130
440,410,648
24,305
1
(1)
4,560,781
0.0%
Fidelity Securities Lending Cash Central Fund 2.01%
1,116,639
5,325,767
5,538,333
15,330
-
-
904,073
0.0%
Total
19,973,938
431,439,897
445,948,981
39,635
1
(1)
5,464,854
  
 
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. 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, changes in interest rates and credit quality. 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.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities.Nonconvertible Bonds, Government Obligations and Preferred Securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
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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