NPORT-EX 2 QTLY_3461_20240131.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® International Discovery K6 Fund
January 31, 2024
IGI-K6-NPRT1-0324
1.9893915.104
Common Stocks - 98.9%
 
 
Shares
Value ($)
 
Australia - 2.6%
 
 
 
Aristocrat Leisure Ltd.
 
56,466
1,627,950
CAR Group Ltd.
 
107,262
2,303,056
Flight Centre Travel Group Ltd. (a)
 
279,150
3,856,705
IperionX Ltd. (b)
 
1,372,311
1,628,313
National Storage REIT unit
 
3,350,654
5,025,023
Steadfast Group Ltd.
 
499,800
1,933,913
TOTAL AUSTRALIA
 
 
16,374,960
Bailiwick of Jersey - 0.5%
 
 
 
JTC PLC (c)
 
288,479
2,926,543
Belgium - 1.0%
 
 
 
UCB SA
 
64,691
6,103,279
Brazil - 1.4%
 
 
 
MercadoLibre, Inc. (b)
 
3,517
6,020,436
Nu Holdings Ltd. (b)
 
300,604
2,588,200
TOTAL BRAZIL
 
 
8,608,636
Canada - 4.6%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
72,182
4,229,609
Cameco Corp.
 
26,582
1,269,142
Canadian Natural Resources Ltd.
 
134,571
8,612,064
Constellation Software, Inc.
 
4,875
13,473,776
Constellation Software, Inc. warrants 8/22/28 (b)(d)
 
4,032
0
Definity Financial Corp.
 
41,749
1,214,787
Lumine Group, Inc.
 
11,697
272,839
TOTAL CANADA
 
 
29,072,217
China - 0.2%
 
 
 
Chervon Holdings Ltd.
 
387,938
788,576
JOYY, Inc. ADR
 
24,675
756,536
TOTAL CHINA
 
 
1,545,112
Denmark - 3.5%
 
 
 
Novo Nordisk A/S Series B
 
193,572
22,126,144
France - 11.2%
 
 
 
Air Liquide SA
 
54,927
10,278,676
Airbus Group NV
 
41,885
6,671,690
AXA SA
 
260,025
8,727,825
BNP Paribas SA
 
107,038
7,191,259
EssilorLuxottica SA
 
24,375
4,802,158
Exclusive Networks SA (b)
 
124,052
2,533,791
Hermes International SCA
 
1,548
3,275,250
L'Oreal SA
 
26,776
12,813,771
LVMH Moet Hennessy Louis Vuitton SE
 
17,648
14,684,177
TOTAL FRANCE
 
 
70,978,597
Germany - 5.5%
 
 
 
Fresenius SE & Co. KGaA
 
71,521
2,018,886
Merck KGaA
 
27,750
4,553,098
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
13,518
5,758,829
Nexus AG
 
22,732
1,422,399
Rheinmetall AG
 
19,907
6,987,583
SAP SE
 
36,163
6,265,115
Siemens AG
 
35,673
6,386,319
Siemens Healthineers AG (c)
 
25,908
1,452,017
Talanx AG
 
73
5,132
TOTAL GERMANY
 
 
34,849,378
Hong Kong - 0.5%
 
 
 
AIA Group Ltd.
 
441,770
3,464,546
Hungary - 0.3%
 
 
 
Richter Gedeon PLC
 
68,212
1,841,357
India - 3.2%
 
 
 
Avenue Supermarts Ltd. (b)(c)
 
43,209
1,973,460
Computer Age Management Services Private Ltd.
 
45,891
1,602,348
HDFC Bank Ltd.
 
324,330
5,701,163
HDFC Bank Ltd. sponsored ADR
 
106,526
5,911,128
Larsen & Toubro Ltd.
 
64,250
2,688,683
Sona Blw Precision Forgings Ltd. (c)
 
234,001
1,740,944
Star Health & Allied Insurance Co. Ltd. (b)
 
81,235
566,832
TOTAL INDIA
 
 
20,184,558
Ireland - 1.8%
 
 
 
Cairn Homes PLC
 
2,163,696
3,323,367
Dalata Hotel Group PLC
 
875,256
4,544,997
Kingspan Group PLC (Ireland)
 
42,543
3,473,963
TOTAL IRELAND
 
 
11,342,327
Italy - 4.2%
 
 
 
BFF Bank SpA (c)
 
251,563
2,724,079
Davide Campari Milano NV
 
258,947
2,633,332
Ferrari NV
 
11,235
3,886,411
FinecoBank SpA
 
126,560
1,836,867
Prysmian SpA
 
63,162
2,797,944
Recordati SpA
 
13,352
740,234
Ryanair Holdings PLC
 
3,200
66,699
UniCredit SpA
 
410,938
12,037,217
TOTAL ITALY
 
 
26,722,783
Japan - 19.4%
 
 
 
BayCurrent Consulting, Inc.
 
44,838
1,042,439
Capcom Co. Ltd.
 
96,571
3,683,100
Daiichi Sankyo Kabushiki Kaisha
 
134,936
4,039,854
Disco Corp.
 
5,656
1,526,211
Eisai Co. Ltd.
 
23,642
1,113,270
Fast Retailing Co. Ltd.
 
21,728
5,800,876
Fuji Electric Co. Ltd.
 
28,100
1,407,249
Hitachi Ltd.
 
177,401
13,934,910
Hoya Corp.
 
80,399
10,213,019
Itochu Corp.
 
202,936
9,210,073
JTOWER, Inc. (a)(b)
 
69,146
2,130,181
Keyence Corp.
 
9,851
4,407,316
Misumi Group, Inc.
 
33,934
581,795
Mitsubishi Heavy Industries Ltd.
 
45,089
3,007,594
Mitsubishi UFJ Financial Group, Inc.
 
635,166
5,949,314
NOF Corp.
 
34,109
1,540,491
ORIX Corp.
 
321,358
6,205,188
Pan Pacific International Holdings Ltd.
 
153,343
3,314,738
Persol Holdings Co. Ltd.
 
1,840,322
2,925,581
Renesas Electronics Corp. (b)
 
499,912
8,202,350
Shin-Etsu Chemical Co. Ltd.
 
252,837
9,952,219
Sony Group Corp.
 
92,775
9,098,296
Sumitomo Mitsui Financial Group, Inc.
 
81,537
4,241,015
TechnoPro Holdings, Inc.
 
63,816
1,471,267
TIS, Inc.
 
75,563
1,680,660
Tokio Marine Holdings, Inc.
 
216,853
5,717,857
TOTAL JAPAN
 
 
122,396,863
Kazakhstan - 0.1%
 
 
 
Kaspi.KZ JSC:
 
 
 
 ADR
 
6,991
639,327
 GDR (Reg. S)
 
3,145
289,340
TOTAL KAZAKHSTAN
 
 
928,667
Korea (South) - 1.9%
 
 
 
Samsung Electronics Co. Ltd.
 
219,766
11,941,524
Netherlands - 9.0%
 
 
 
ASML Holding NV (Netherlands)
 
26,704
23,168,073
BE Semiconductor Industries NV
 
56,804
8,582,054
IMCD NV
 
16,628
2,551,723
ING Groep NV (Certificaten Van Aandelen)
 
257,642
3,660,699
Shell PLC (London)
 
284,196
8,810,738
Topicus.Com, Inc. (b)
 
7,663
592,772
Universal Music Group NV
 
73,535
2,167,645
Wolters Kluwer NV
 
50,902
7,508,837
TOTAL NETHERLANDS
 
 
57,042,541
Russia - 0.0%
 
 
 
Fix Price Group Ltd. GDR (Reg. S) (b)(d)
 
38,476
14,210
Spain - 1.1%
 
 
 
CaixaBank SA
 
1,240,275
5,288,525
Cie Automotive SA
 
51,916
1,374,588
TOTAL SPAIN
 
 
6,663,113
Sweden - 2.3%
 
 
 
ASSA ABLOY AB (B Shares)
 
111,122
3,047,602
Indutrade AB
 
214,406
5,239,289
Investor AB (B Shares)
 
138,539
3,273,555
Kry International AB (b)(d)(e)
 
71
3,154
Lagercrantz Group AB (B Shares)
 
234,564
3,078,939
TOTAL SWEDEN
 
 
14,642,539
Switzerland - 0.7%
 
 
 
Partners Group Holding AG
 
3,086
4,194,771
Taiwan - 2.4%
 
 
 
Taiwan Semiconductor Manufacturing Co. Ltd.
 
763,041
15,278,109
United Kingdom - 13.8%
 
 
 
3i Group PLC
 
252,080
7,891,352
AstraZeneca PLC (United Kingdom)
 
106,164
14,074,888
BAE Systems PLC
 
663,379
9,895,041
Big Yellow Group PLC
 
165,482
2,407,532
Bunzl PLC
 
95,666
3,897,786
Cab Payments Holdings Ltd. (a)
 
300,267
302,520
Compass Group PLC
 
374,852
10,324,838
DCC PLC (United Kingdom)
 
226
16,486
Diageo PLC
 
50,860
1,836,954
Flutter Entertainment PLC (b)
 
23,241
4,796,473
Games Workshop Group PLC
 
31,227
3,919,802
JD Sports Fashion PLC
 
1,507,038
2,235,502
London Stock Exchange Group PLC
 
64,812
7,331,149
RELX PLC (London Stock Exchange)
 
166,376
6,867,015
Sage Group PLC
 
459,531
6,860,244
Starling Bank Ltd. Series D (b)(d)(e)
 
137,500
547,157
Zegona Communications PLC (b)
 
1,581,560
3,667,889
TOTAL UNITED KINGDOM
 
 
86,872,628
United States of America - 7.7%
 
 
 
CRH PLC
 
87,185
6,213,932
Globant SA (b)
 
10,506
2,477,420
Linde PLC
 
15,380
6,226,285
Microsoft Corp.
 
15,433
6,135,852
Nestle SA (Reg. S)
 
96,837
11,034,635
NVIDIA Corp.
 
14,258
8,772,520
Samsonite International SA (b)(c)
 
1,002,942
2,799,942
Schneider Electric SA
 
24,355
4,784,543
TOTAL UNITED STATES OF AMERICA
 
 
48,445,129
 
TOTAL COMMON STOCKS
 (Cost $537,300,817)
 
 
 
624,560,531
 
 
 
 
Preferred Stocks - 0.2%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.2%
 
 
 
China - 0.1%
 
 
 
ByteDance Ltd. Series E1 (b)(d)(e)
 
1,533
338,992
dMed Biopharmaceutical Co. Ltd. Series C (b)(d)(e)
 
8,434
50,014
 
 
 
389,006
Estonia - 0.1%
 
 
 
Bolt Technology OU Series E (b)(d)(e)
 
3,347
379,977
United States of America - 0.0%
 
 
 
Canva, Inc.:
 
 
 
 Series A (d)(e)
 
85
90,666
 Series A2 (d)(e)
 
15
16,000
 
 
 
106,666
TOTAL CONVERTIBLE PREFERRED STOCKS
 
 
875,649
Nonconvertible Preferred Stocks - 0.0%
 
 
 
Sweden - 0.0%
 
 
 
Kry International AB Series E (b)(d)(e)
 
413
25,463
 
TOTAL PREFERRED STOCKS
 (Cost $1,452,783)
 
 
 
901,112
 
 
 
 
Money Market Funds - 1.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
4,643,962
4,644,891
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g)
 
3,747,260
3,747,634
 
TOTAL MONEY MARKET FUNDS
 (Cost $8,392,525)
 
 
8,392,525
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.4%
 (Cost $547,146,125)
 
 
 
633,854,168
NET OTHER ASSETS (LIABILITIES) - (0.4)%  
(2,477,427)
NET ASSETS - 100.0%
631,376,741
 
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(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 $13,616,985 or 2.2% of net assets.
 
(d)
Level 3 security
 
(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 $1,451,423 or 0.2% of net assets.
 
(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 ($)
 
Bolt Technology OU Series E
1/03/22
869,539
 
 
 
ByteDance Ltd. Series E1
11/18/20
167,977
 
 
 
Canva, Inc. Series A
9/22/23
90,666
 
 
 
Canva, Inc. Series A2
9/22/23
16,000
 
 
 
dMed Biopharmaceutical Co. Ltd. Series C
12/01/20
119,789
 
 
 
Kry International AB
5/14/21
30,836
 
 
 
Kry International AB Series E
5/14/21
188,812
 
 
 
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
286,270
 
 
 
 
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 5.39%
20,988,977
39,239,669
55,583,755
188,835
-
-
4,644,891
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
4,348,895
16,199,166
16,800,427
9,488
-
-
3,747,634
0.0%
Total
25,337,872
55,438,835
72,384,182
198,323
-
-
8,392,525
 
 
 
 
 
 
 
 
 
 
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.
 
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.
 
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