NPORT-EX 2 QTLY_1135_20230731.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® International Small Cap Fund
July 31, 2023
ISC-NPRT3-0923
1.804839.119
Common Stocks - 96.1%
 
 
Shares
Value ($)
 
Australia - 3.6%
 
 
 
EBOS Group Ltd.
 
618,595
14,811,271
Flight Centre Travel Group Ltd. (a)(b)
 
1,241,931
19,495,372
GUD Holdings Ltd.
 
2,849,195
19,080,629
Imdex Ltd.
 
12,747,570
16,782,584
Inghams Group Ltd.
 
13,945,540
26,228,214
Nanosonics Ltd. (a)
 
4,720,837
14,998,765
National Storage REIT unit
 
8,738,696
13,617,895
Servcorp Ltd. (c)
 
7,066,585
14,002,544
SomnoMed Ltd. (a)(c)
 
4,189,521
2,574,903
TOTAL AUSTRALIA
 
 
141,592,177
Austria - 1.7%
 
 
 
Mayr-Melnhof Karton AG (b)
 
205,012
31,287,004
Strabag SE
 
229,279
9,629,924
Wienerberger AG
 
808,900
26,521,477
TOTAL AUSTRIA
 
 
67,438,405
Belgium - 1.1%
 
 
 
Econocom Group SA
 
4,581,895
13,224,208
Fagron NV
 
1,586,600
28,225,471
TOTAL BELGIUM
 
 
41,449,679
Brazil - 2.2%
 
 
 
Atacadao SA
 
8,088,400
23,467,692
Hypera SA
 
4,143,400
37,905,046
YDUQS Participacoes SA
 
5,099,500
23,929,771
TOTAL BRAZIL
 
 
85,302,509
Canada - 4.6%
 
 
 
CCL Industries, Inc. Class B
 
338,600
16,233,490
Computer Modelling Group Ltd.
 
3,070,263
16,764,034
ECN Capital Corp.
 
4,620,800
9,180,978
Genesis Land Development Corp. (c)
 
4,033,799
6,393,387
Lassonde Industries, Inc. Class A (sub. vtg.)
 
219,999
20,642,685
McCoy Global, Inc. (b)
 
1,327,470
1,469,765
North West Co., Inc.
 
993,800
24,192,151
Open Text Corp.
 
668,096
28,696,741
Parkland Corp.
 
652,900
17,829,545
Quebecor, Inc. Class A
 
420,200
10,356,425
Richelieu Hardware Ltd.
 
303,400
10,128,289
Total Energy Services, Inc.
 
672,196
5,219,950
VerticalScope Holdings, Inc. (a)
 
677,619
2,235,349
Western Forest Products, Inc. (c)
 
16,765,775
13,095,778
TOTAL CANADA
 
 
182,438,567
China - 3.3%
 
 
 
Best Pacific International Holdings Ltd.
 
22,158,900
2,926,524
Chervon Holdings Ltd.
 
3,345,000
12,524,074
Far East Horizon Ltd.
 
24,099,000
18,076,799
Impro Precision Industries Ltd. (d)
 
21,362,300
7,340,902
Precision Tsugami China Corp. Ltd.
 
9,440,453
10,531,221
Qingdao Port International Co. Ltd. (H Shares) (d)
 
34,377,000
18,204,748
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
4,773,466
17,201,800
Sinopharm Group Co. Ltd. (H Shares)
 
6,564,000
20,578,517
Weifu High-Technology Group Co. Ltd. (B Shares)
 
7,079,886
9,531,960
Xingda International Holdings Ltd.
 
66,427,353
12,350,416
TOTAL CHINA
 
 
129,266,961
Denmark - 0.5%
 
 
 
Spar Nord Bank A/S
 
1,194,575
19,000,677
Finland - 1.6%
 
 
 
Huhtamaki Oyj
 
749,500
26,625,871
Nanoform Finland PLC (a)
 
797,822
1,600,900
Rovio Entertainment OYJ (d)
 
2,534,169
25,661,996
Tokmanni Group Corp.
 
667,907
10,310,467
TOTAL FINLAND
 
 
64,199,234
France - 2.4%
 
 
 
Altarea SCA (b)
 
133,357
12,463,212
Antin Infrastructure Partners SA
 
373,955
6,714,300
ARGAN SA
 
242,000
18,279,627
Elior SA (a)(b)(d)
 
3,035,300
7,742,565
Lectra
 
361,754
11,514,820
Maisons du Monde SA (d)
 
1,033,507
10,840,693
Thermador Groupe SA
 
323,666
28,683,184
TOTAL FRANCE
 
 
96,238,401
Germany - 4.4%
 
 
 
DWS Group GmbH & Co. KGaA (d)
 
226,600
7,957,746
JOST Werke AG (d)
 
426,506
24,853,997
NORMA Group AG
 
623,692
10,992,562
Rheinmetall AG
 
172,725
48,883,127
Stabilus Se
 
316,900
18,066,176
Takkt AG
 
1,279,912
18,378,858
Talanx AG
 
712,867
43,657,508
TOTAL GERMANY
 
 
172,789,974
Greece - 1.2%
 
 
 
Mytilineos SA
 
1,178,216
49,045,680
Hong Kong - 1.9%
 
 
 
ASMPT Ltd.
 
2,691,000
26,171,941
China Metal Recycling (Holdings) Ltd. (a)(e)
 
436,800
1
HKT Trust/HKT Ltd. unit
 
9,770,000
11,512,688
Magnificent Hotel Investment Ltd. (a)
 
316,412,000
4,543,993
Pico Far East Holdings Ltd.
 
61,300,071
10,689,725
Sino Land Ltd.
 
11,082,375
13,570,719
WH Group Ltd. (d)
 
14,230,500
7,766,865
TOTAL HONG KONG
 
 
74,255,932
Hungary - 0.9%
 
 
 
Richter Gedeon PLC
 
1,397,000
35,240,127
India - 2.1%
 
 
 
Embassy Office Parks (REIT)
 
5,069,400
19,230,927
IndusInd Bank Ltd.
 
956,800
16,494,446
Mahanagar Gas Ltd.
 
1,575,600
21,425,018
Shriram Transport Finance Co. Ltd.
 
1,092,652
25,152,652
TOTAL INDIA
 
 
82,303,043
Indonesia - 0.7%
 
 
 
PT Avia Avian Tbk
 
203,834,400
8,380,459
PT Selamat Sempurna Tbk
 
147,354,400
19,543,024
TOTAL INDONESIA
 
 
27,923,483
Ireland - 1.8%
 
 
 
AerCap Holdings NV (a)
 
286,472
18,279,778
Dalata Hotel Group PLC (a)
 
4,560,609
21,336,228
Irish Residential Properties REIT PLC
 
15,083,700
16,053,823
Mincon Group PLC (c)
 
13,529,844
13,983,500
TOTAL IRELAND
 
 
69,653,329
Italy - 2.3%
 
 
 
Banca Generali SpA
 
565,700
21,197,322
BFF Bank SpA (d)
 
2,405,056
27,131,124
MARR SpA (a)
 
985,827
15,326,583
Recordati SpA
 
552,011
28,495,650
TOTAL ITALY
 
 
92,150,679
Japan - 19.5%
 
 
 
Amano Corp.
 
980,150
22,239,653
Arcland Sakamoto Co. Ltd.
 
1,940,034
22,323,380
ASKUL Corp.
 
1,561,100
21,759,824
Bank of Kyoto Ltd.
 
262,600
15,470,078
Capcom Co. Ltd.
 
595,900
26,807,437
Central Automotive Products Ltd.
 
425,700
10,697,484
DaikyoNishikawa Corp.
 
2,441,100
13,572,629
Dexerials Corp.
 
783,200
17,726,806
Dip Corp.
 
587,900
14,814,758
Funai Soken Holdings, Inc.
 
1,111,300
20,583,246
GMO Internet, Inc.
 
1,142,200
22,644,889
Inaba Denki Sangyo Co. Ltd.
 
1,225,400
27,175,602
Isuzu Motors Ltd.
 
1,623,900
21,025,718
Justsystems Corp.
 
420,200
11,944,532
Kamigumi Co. Ltd.
 
1,341,300
31,094,137
Kansai Electric Power Co., Inc.
 
1,995,800
26,233,761
LIXIL Group Corp. (b)
 
923,000
11,791,744
Maruwa Ceramic Co. Ltd.
 
157,000
26,033,318
Meitec Corp.
 
958,100
17,425,816
Minebea Mitsumi, Inc.
 
1,087,200
20,083,377
Mitani Shoji Co. Ltd.
 
1,042,800
10,130,036
Nishimoto Co. Ltd.
 
359,000
11,885,495
NOF Corp.
 
709,900
30,593,589
NSD Co. Ltd.
 
1,258,400
24,616,928
PALTAC Corp.
 
697,700
23,417,689
Park24 Co. Ltd. (a)
 
767,700
10,107,209
Persol Holdings Co. Ltd.
 
1,107,800
21,865,550
Relo Group, Inc.
 
1,325,000
18,273,293
Renesas Electronics Corp. (a)
 
2,989,700
57,682,791
Roland Corp.
 
726,500
20,682,002
S Foods, Inc.
 
1,137,623
26,788,297
San-Ai Obbli Co. Ltd.
 
1,799,200
20,437,263
Ship Healthcare Holdings, Inc.
 
1,454,200
23,545,845
Sumco Corp.
 
1,248,900
18,171,883
TIS, Inc.
 
679,300
17,203,936
TKC Corp.
 
301,500
7,830,756
Tsuruha Holdings, Inc.
 
314,200
24,106,372
TOTAL JAPAN
 
 
768,787,123
Korea (South) - 1.7%
 
 
 
Hyundai Fire & Marine Insurance Co. Ltd.
 
546,046
12,243,855
Soulbrain Co. Ltd.
 
158,300
33,760,722
Vitzrocell Co. Ltd. (c)
 
1,372,541
21,473,480
TOTAL KOREA (SOUTH)
 
 
67,478,057
Mexico - 4.2%
 
 
 
Bolsa Mexicana de Valores S.A.B. de CV
 
10,435,182
22,122,960
GCC S.A.B. de CV
 
2,930,800
28,473,129
Genomma Lab Internacional SA de CV
 
17,396,561
15,594,051
Gruma S.A.B. de CV Series B
 
2,317,600
41,574,242
Grupo Comercial Chedraui S.A.B. de CV
 
5,130,600
30,045,186
Qualitas Controladora S.A.B. de CV
 
3,581,235
26,355,067
TOTAL MEXICO
 
 
164,164,635
Netherlands - 1.2%
 
 
 
Acomo NV
 
874,199
19,800,345
Arcadis NV
 
406,750
17,844,143
Van Lanschot Kempen NV (Bearer)
 
283,041
9,273,867
TOTAL NETHERLANDS
 
 
46,918,355
Norway - 1.5%
 
 
 
Europris ASA (d)
 
4,400,523
26,702,598
Selvaag Bolig ASA
 
2,186,000
6,923,557
Sparebanken Midt-Norge
 
1,886,626
26,470,340
TOTAL NORWAY
 
 
60,096,495
Peru - 0.4%
 
 
 
Intercorp Financial Services, Inc.
 
683,100
16,763,274
Philippines - 1.3%
 
 
 
Century Pacific Food, Inc.
 
59,549,800
28,191,821
Robinsons Land Corp.
 
77,489,300
21,164,230
TOTAL PHILIPPINES
 
 
49,356,051
Romania - 0.6%
 
 
 
Banca Transilvania SA
 
4,760,605
21,854,183
Singapore - 1.8%
 
 
 
Boustead Singapore Ltd.
 
13,374,312
8,951,410
HRnetgroup Ltd.
 
29,178,700
16,018,388
Mapletree Industrial (REIT)
 
14,230,731
23,972,053
The Hour Glass Ltd.
 
12,996,880
20,329,769
TOTAL SINGAPORE
 
 
69,271,620
Spain - 3.6%
 
 
 
Cie Automotive SA
 
852,000
26,679,324
Compania de Distribucion Integral Logista Holdings SA
 
1,388,500
38,654,924
Grupo Catalana Occidente SA
 
731,085
24,436,370
Indra Sistemas SA (b)
 
1,941,877
28,225,940
Prosegur Compania de Seguridad SA (Reg.)
 
6,982,481
12,867,051
Viscofan Envolturas Celulosicas SA
 
178,900
11,605,332
TOTAL SPAIN
 
 
142,468,941
Sweden - 1.3%
 
 
 
Granges AB
 
1,987,476
20,296,936
Haypp Group (a)
 
1,154,900
5,485,731
HEXPOL AB (B Shares)
 
1,875,600
20,366,040
Nordnet AB
 
376,000
5,579,419
TOTAL SWEDEN
 
 
51,728,126
Switzerland - 0.6%
 
 
 
Anhui Heli Co. Ltd. ELS (UBS AG London Branch Bank Warrant Programme) Class A warrants 1/5/24 (a)(d)
 
8,014,256
24,369,910
Taiwan - 3.2%
 
 
 
International Games Systems Co. Ltd.
 
2,037,000
39,658,293
Lumax International Corp. Ltd.
 
4,537,292
11,643,689
Sporton International, Inc.
 
1,966,977
15,024,391
Test Research, Inc.
 
7,892,000
15,289,716
Tripod Technology Corp.
 
4,536,000
24,346,821
Yageo Corp.
 
845,578
12,340,186
Yung Chi Paint & Varnish Manufacturing Co. Ltd.
 
2,538,000
6,085,848
TOTAL TAIWAN
 
 
124,388,944
Thailand - 0.5%
 
 
 
Star Petroleum Refining PCL (For. Reg.)
 
70,104,800
17,954,544
United Kingdom - 15.6%
 
 
 
Alliance Pharma PLC (b)
 
18,161,527
11,886,874
Ashtead Technology Holdings PLC (c)
 
7,272,000
36,490,158
B&M European Value Retail SA
 
4,638,800
32,933,124
Bodycote PLC
 
1,967,871
17,476,233
Cab Payments Holdings Ltd.
 
2,731,400
10,060,332
DCC PLC (United Kingdom)
 
420,200
24,326,184
Direct Line Insurance Group PLC
 
8,403,700
16,225,865
Grainger Trust PLC
 
6,741,166
21,783,911
Harbour Energy PLC
 
4,471,994
15,294,791
Hiscox Ltd.
 
2,334,148
32,321,756
Indivior PLC (a)
 
656,500
14,769,363
Informa PLC
 
2,889,633
28,117,168
J.D. Wetherspoon PLC (a)
 
2,015,900
17,488,832
Jet2 PLC
 
1,762,100
25,418,035
John Wood Group PLC (a)
 
12,397,900
23,516,229
Lancashire Holdings Ltd.
 
2,100,900
16,096,254
LSL Property Services PLC
 
4,204,235
14,567,863
Luxfer Holdings PLC sponsored
 
1,079,659
13,668,483
Mears Group PLC (c)
 
7,653,314
26,862,843
On The Beach Group PLC (a)(d)
 
6,731,236
7,688,293
Pets At Home Group PLC
 
2,742,500
13,810,861
Premier Foods PLC
 
15,860,500
25,809,598
Rathbone Brothers PLC
 
596,400
13,777,019
RS GROUP PLC
 
2,280,653
22,964,269
Sabre Insurance Group PLC (d)
 
9,562,200
16,934,876
Savills PLC
 
1,552,000
19,399,735
Tate & Lyle PLC
 
3,343,443
32,030,879
Ten Entertainment Group PLC (c)
 
5,931,311
22,455,247
Vistry Group PLC
 
1,740,898
17,638,863
WH Smith PLC
 
1,159,600
22,218,418
TOTAL UNITED KINGDOM
 
 
614,032,356
United States of America - 2.8%
 
 
 
Adient PLC (a)
 
487,300
20,739,488
Adtalem Global Education, Inc. (a)
 
554,100
23,959,284
Antero Resources Corp. (a)
 
920,100
24,612,675
RHI Magnesita NV (b)
 
1,054,291
40,428,368
TOTAL UNITED STATES OF AMERICA
 
 
109,739,815
 
TOTAL COMMON STOCKS
 (Cost $3,439,925,158)
 
 
 
3,779,661,286
 
 
 
 
Money Market Funds - 2.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.32% (f)
 
61,424,413
61,436,698
Fidelity Securities Lending Cash Central Fund 5.32% (f)(g)
 
52,462,824
52,468,070
 
TOTAL MONEY MARKET FUNDS
 (Cost $113,904,768)
 
 
113,904,768
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.0%
 (Cost $3,553,829,926)
 
 
 
3,893,566,054
NET OTHER ASSETS (LIABILITIES) - 1.0%  
38,627,221
NET ASSETS - 100.0%
3,932,193,275
 
 
Security Type Abbreviations
ELS
-
EQUITY-LINKED SECURITY
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Affiliated company
 
(d)
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 $213,196,313 or 5.4% 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.
 
 
 
 
 
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 5.32%
-
414,463,081
353,026,383
1,552,491
-
-
61,436,698
0.2%
Fidelity Securities Lending Cash Central Fund 5.32%
28,602,852
232,067,635
208,202,417
204,846
-
-
52,468,070
0.2%
Total
28,602,852
646,530,716
561,228,800
1,757,337
-
-
113,904,768
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Amounts in the dividend income column 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.
 
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Ashtead Technology Holdings PLC
19,751,365
1,332,382
-
89,580
-
15,406,411
36,490,158
Genesis Land Development Corp.
5,655,343
-
-
405,932
-
738,044
6,393,387
Mears Group PLC
17,260,781
-
953,818
726,594
(1,261,903)
11,817,783
26,862,843
Mincon Group PLC
13,237,160
-
-
184,176
-
746,340
13,983,500
Servcorp Ltd.
15,413,681
-
-
477,383
-
(1,411,137)
14,002,544
SomnoMed Ltd.
3,698,161
-
-
-
-
(1,123,258)
2,574,903
Ten Entertainment Group PLC
14,590,349
-
-
515,232
-
7,864,898
22,455,247
Vitzrocell Co. Ltd.
12,328,605
-
1,730,761
191,205
258,145
10,617,491
21,473,480
Western Forest Products, Inc.
11,450,665
3,619,949
275,142
328,377
(453,829)
(1,245,865)
13,095,778
Total
113,386,110
4,952,331
2,959,721
2,918,479
(1,457,587)
43,410,707
157,331,840
 
 
 
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 designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
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 service 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.