NPORT-EX 2 QTLY_3468_20240131.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Series Overseas Fund
January 31, 2024
SOV-NPRT1-0324
1.9898562.104
Common Stocks - 98.8%
 
 
Shares
Value ($)
 
Belgium - 0.7%
 
 
 
Azelis Group NV
 
1,834,543
37,907,133
KBC Group NV
 
1,033,165
67,528,425
TOTAL BELGIUM
 
 
105,435,558
Canada - 2.9%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
2,343,400
137,314,926
Constellation Software, Inc.
 
101,670
281,000,771
Constellation Software, Inc. warrants 8/22/28 (a)(b)
 
105,870
8
Lumine Group, Inc.
 
311,550
7,267,067
TOTAL CANADA
 
 
425,582,772
China - 0.0%
 
 
 
Chervon Holdings Ltd.
 
984,100
2,000,417
Denmark - 5.5%
 
 
 
Carlsberg A/S Series B
 
564,800
72,671,375
DSV A/S
 
1,271,331
227,453,605
Novo Nordisk A/S Series B
 
4,391,100
501,922,329
TOTAL DENMARK
 
 
802,047,309
Finland - 1.1%
 
 
 
Nordea Bank Abp
 
12,845,800
158,297,376
France - 13.3%
 
 
 
Air Liquide SA
 
1,201,060
224,758,435
ALTEN
 
910,701
141,527,179
Antin Infrastructure Partners SA
 
338,800
6,246,368
Capgemini SA
 
1,150,662
257,657,431
Edenred SA
 
1,201,704
71,972,929
EssilorLuxottica SA
 
1,111,316
218,942,154
L'Oreal SA
 
397,400
190,177,501
LVMH Moet Hennessy Louis Vuitton SE
 
424,683
353,361,296
Safran SA
 
1,453,100
271,306,577
TotalEnergies SE
 
3,100,679
201,158,324
TOTAL FRANCE
 
 
1,937,108,194
Germany - 9.4%
 
 
 
Allianz SE
 
796,033
212,680,941
Deutsche Borse AG
 
998,260
198,793,148
Hannover Reuck SE
 
894,716
214,849,530
Infineon Technologies AG
 
4,242,300
154,661,176
Merck KGaA
 
845,020
138,647,170
SAP SE
 
1,762,400
305,329,704
Siemens Healthineers AG (c)
 
2,720,900
152,493,118
TOTAL GERMANY
 
 
1,377,454,787
India - 1.0%
 
 
 
HCL Technologies Ltd.
 
1,036,396
19,647,498
HDFC Bank Ltd.
 
6,866,900
120,708,285
TOTAL INDIA
 
 
140,355,783
Indonesia - 0.7%
 
 
 
PT Bank Central Asia Tbk
 
177,923,300
107,648,303
Ireland - 0.9%
 
 
 
Kingspan Group PLC (Ireland)
 
1,698,000
138,654,761
Italy - 3.4%
 
 
 
FinecoBank SpA
 
8,415,485
122,140,674
GVS SpA (a)(c)
 
844,738
5,386,159
Industrie de Nora SpA
 
605,200
9,562,060
Recordati SpA
 
2,934,039
162,662,858
UniCredit SpA
 
6,627,300
194,127,214
TOTAL ITALY
 
 
493,878,965
Japan - 13.5%
 
 
 
Bandai Namco Holdings, Inc.
 
2,472,500
53,535,922
BayCurrent Consulting, Inc.
 
1,183,000
27,503,569
Capcom Co. Ltd.
 
2,064,500
78,737,517
FUJIFILM Holdings Corp.
 
1,937,000
122,776,610
Hoya Corp.
 
1,720,607
218,567,306
Misumi Group, Inc.
 
1,591,861
27,292,292
Mitsubishi Heavy Industries Ltd.
 
1,444,200
96,333,191
Persol Holdings Co. Ltd.
 
41,276,030
65,616,986
Relo Group, Inc.
 
2,982,328
29,935,819
Renesas Electronics Corp. (a)
 
7,325,200
120,188,855
Shin-Etsu Chemical Co. Ltd.
 
5,806,500
228,556,572
Sony Group Corp.
 
2,933,400
287,673,837
Suzuki Motor Corp.
 
2,888,945
129,767,625
TIS, Inc.
 
2,225,476
49,498,690
Tokio Marine Holdings, Inc.
 
10,209,000
269,185,115
Tokyo Electron Ltd.
 
905,100
167,961,630
TOTAL JAPAN
 
 
1,973,131,536
Netherlands - 8.2%
 
 
 
ASM International NV (Netherlands)
 
278,000
155,084,340
ASML Holding NV (Netherlands)
 
670,328
581,568,621
IMCD NV
 
1,069,051
164,055,925
Topicus.Com, Inc. (a)
 
185,377
14,339,848
Wolters Kluwer NV
 
1,923,908
283,806,346
TOTAL NETHERLANDS
 
 
1,198,855,080
Spain - 1.3%
 
 
 
Amadeus IT Holding SA Class A
 
1,222,770
85,973,377
CaixaBank SA
 
22,955,100
97,880,404
TOTAL SPAIN
 
 
183,853,781
Sweden - 2.6%
 
 
 
AddTech AB (B Shares)
 
2,410,119
50,116,969
Atlas Copco AB (A Shares)
 
10,405,400
166,064,181
Indutrade AB
 
6,899,975
168,609,845
Kry International AB (a)(b)(d)
 
4,451
197,747
TOTAL SWEDEN
 
 
384,988,742
Switzerland - 5.6%
 
 
 
Alcon, Inc. (Switzerland)
 
1,560,950
118,371,363
Compagnie Financiere Richemont SA Series A
 
1,296,060
192,509,737
Julius Baer Group Ltd.
 
2,037,148
110,905,275
Partners Group Holding AG
 
128,470
174,628,090
Sika AG
 
806,601
222,668,651
TOTAL SWITZERLAND
 
 
819,083,116
Taiwan - 0.7%
 
 
 
Taiwan Semiconductor Manufacturing Co. Ltd.
 
4,865,684
97,423,927
United Kingdom - 15.6%
 
 
 
3i Group PLC
 
5,546,491
173,632,618
AstraZeneca PLC (United Kingdom)
 
2,938,500
389,577,052
BAE Systems PLC
 
12,210,000
182,125,838
Beazley PLC
 
4,296,051
29,644,679
Compass Group PLC
 
9,899,987
272,682,989
Diageo PLC
 
6,710,447
242,366,994
Diploma PLC
 
1,465,031
60,526,262
Flutter Entertainment PLC (a)
 
192,202
39,666,612
Halma PLC
 
3,032,600
84,281,683
Hiscox Ltd.
 
3,534,572
46,540,583
InterContinental Hotel Group PLC
 
874,798
82,889,814
London Stock Exchange Group PLC
 
1,778,600
201,184,678
RELX PLC (London Stock Exchange)
 
7,548,255
311,547,221
Sage Group PLC
 
10,340,600
154,372,688
TOTAL UNITED KINGDOM
 
 
2,271,039,711
United States of America - 12.4%
 
 
 
CBRE Group, Inc. (a)
 
1,508,400
130,190,004
CDW Corp.
 
451,200
102,296,064
Experian PLC
 
3,521,400
146,569,105
Ferguson PLC
 
942,200
177,316,435
Fiserv, Inc. (a)
 
274,100
38,886,567
ICON PLC (a)
 
455,700
118,878,459
Linde PLC
 
551,000
223,061,330
Marsh & McLennan Companies, Inc.
 
1,225,628
237,575,732
Nestle SA (Reg. S)
 
1,168,961
133,203,816
S&P Global, Inc.
 
475,651
213,258,126
Schneider Electric SA
 
921,531
181,034,887
Thermo Fisher Scientific, Inc.
 
196,500
105,909,570
TOTAL UNITED STATES OF AMERICA
 
 
1,808,180,095
 
TOTAL COMMON STOCKS
 (Cost $10,771,673,442)
 
 
 
14,425,020,213
 
 
 
 
Nonconvertible Preferred Stocks - 0.0%
 
 
Shares
Value ($)
 
Sweden - 0.0%
 
 
 
Kry International AB Series E (a)(b)(d)
  (Cost $11,754,376)
 
25,711
1,585,184
 
 
 
 
Money Market Funds - 1.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (e)
 
 (Cost $166,732,366)
 
 
166,699,026
166,732,366
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
 (Cost $10,950,160,184)
 
 
 
14,593,337,763
NET OTHER ASSETS (LIABILITIES) - 0.1%  
11,088,232
NET ASSETS - 100.0%
14,604,425,995
 
 
Legend
 
(a)
Non-income producing
 
(b)
Level 3 security
 
(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 $157,879,277 or 1.1% 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 $1,782,931 or 0.0% of net assets.
 
(e)
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.
 
 
 
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 5.39%
329,038,521
746,781,990
909,088,145
2,879,528
-
-
166,732,366
0.3%
Fidelity Securities Lending Cash Central Fund 5.39%
-
35,612
35,612
13
-
-
-
0.0%
Total
329,038,521
746,817,602
909,123,757
2,879,541
-
-
166,732,366
 
 
 
 
 
 
 
 
 
 
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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