Quarterly Holdings Report
for
Fidelity® International Small Cap Fund
July 31, 2026
ISC-NPRT3-0926
1.804839.122
Common Stocks - 97.5%
 
  
Shares
Value ($)
 
AUSTRALIA - 4.1%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Automobile Components - 0.3%
  
  
  
Amotiv Ltd
 
3,326,107
16,414,574
Financials - 1.5%
  
  
  
Insurance - 1.5%
  
  
  
AUB Group Ltd
 
2,474,833
48,224,815
nib holdings Ltd/Australia
 
5,428,251
28,563,619
TOTAL FINANCIALS
  
  
76,788,434
Materials - 2.3%
  
  
  
Metals & Mining - 2.3%
  
  
  
Deterra Royalties Ltd
 
10,515,892
32,012,269
Imdex Ltd
 
12,108,786
31,280,400
OceanaGold Corp
 
1,015,000
24,472,661
Vault Minerals Ltd
 
10,100,000
33,849,372
TOTAL MATERIALS
  
  
121,614,702
TOTAL AUSTRALIA
  
  
214,817,710
AUSTRIA - 4.0%
 
  
  
Communication Services - 0.8%
  
  
  
Diversified Telecommunication Services - 0.8%
  
  
  
Eurotelesites AG (c)
  
2,619,500
13,623,251
Telekom Austria AG
 
2,404,700
28,118,015
TOTAL COMMUNICATION SERVICES
  
  
41,741,266
Industrials - 0.9%
  
  
  
Construction & Engineering - 0.9%
  
  
  
Strabag SE
 
491,597
47,504,970
Information Technology - 0.4%
  
  
  
Electronic Equipment, Instruments & Components - 0.4%
  
  
  
AT&S Austria Technologie & Systemtechnik AG (c)
  
150,000
22,624,803
Materials - 1.9%
  
  
  
Construction Materials - 0.4%
  
  
  
Wienerberger AG (a)
  
946,000
23,192,107
Containers & Packaging - 0.5%
  
  
  
Mayr Melnhof Karton AG
 
261,100
25,020,368
Metals & Mining - 1.0%
  
  
  
voestalpine AG
 
900,000
46,681,818
TOTAL MATERIALS
  
  
94,894,293
TOTAL AUSTRIA
  
  
206,765,332
BELGIUM - 0.8%
 
  
  
Health Care - 0.8%
  
  
  
Health Care Providers & Services - 0.8%
  
  
  
Fagron
 
1,520,500
40,678,058
BRAZIL - 0.4%
 
  
  
Consumer Discretionary - 0.4%
  
  
  
Diversified Consumer Services - 0.4%
  
  
  
Afya Ltd Class A
 
1,631,500
23,281,505
CANADA - 3.9%
 
  
  
Communication Services - 0.5%
  
  
  
Diversified Telecommunication Services - 0.5%
  
  
  
Quebecor Inc Class B
 
612,800
28,357,054
Consumer Staples - 1.5%
  
  
  
Consumer Staples Distribution & Retail - 0.8%
  
  
  
North West Co Inc/The (a)
  
1,092,000
39,610,658
Food Products - 0.7%
  
  
  
Lassonde Industries Inc Class A
 
218,999
33,928,168
TOTAL CONSUMER STAPLES
  
  
73,538,826
Energy - 0.3%
  
  
  
Energy Equipment & Services - 0.3%
  
  
  
Total Energy Services Inc
 
1,021,000
17,210,279
Industrials - 0.3%
  
  
  
Trading Companies & Distributors - 0.3%
  
  
  
Richelieu Hardware Ltd
 
696,500
17,618,069
Materials - 0.8%
  
  
  
Containers & Packaging - 0.8%
  
  
  
CCL Industries Inc Class B
 
564,200
37,409,416
Real Estate - 0.5%
  
  
  
Real Estate Management & Development - 0.5%
  
  
  
Colliers International Group Inc Subordinate Voting Shares
 
140,361
13,801,306
Genesis Land Development Corp (b)
  
5,135,199
12,930,950
TOTAL REAL ESTATE
  
  
26,732,256
TOTAL CANADA
  
  
200,865,900
CHINA - 5.0%
 
  
  
Consumer Discretionary - 1.0%
  
  
  
Automobile Components - 0.3%
  
  
  
Weifu High-Technology Group Co Ltd B Shares
 
8,972,271
13,863,597
Diversified Consumer Services - 0.7%
  
  
  
New Oriental Education & Technology Group Inc
 
5,800,000
34,012,969
Textiles, Apparel & Luxury Goods - 0.0%
  
  
  
Best Pacific International Holdings Ltd (e)
  
22,158,900
6,724,750
TOTAL CONSUMER DISCRETIONARY
  
  
54,601,316
Financials - 0.5%
  
  
  
Financial Services - 0.5%
  
  
  
Far East Horizon Ltd
 
29,572,000
25,942,997
Health Care - 0.7%
  
  
  
Pharmaceuticals - 0.7%
  
  
  
Consun Pharmaceutical Group Ltd
 
19,459,000
33,968,391
Industrials - 2.2%
  
  
  
Machinery - 1.6%
  
  
  
Precision Tsugami China Corp Ltd (e)
  
5,803,453
38,480,512
Sany Heavy Equipment International Holdings Co Ltd
 
20,000,000
18,948,281
Yangzijiang Shipbuilding (Holdings) Ltd (a)
  
8,365,900
25,537,037
 
  
  
82,965,830
Transportation Infrastructure - 0.6%
  
  
  
Qingdao Port International Co Ltd H Shares (d)(e)
  
32,216,000
29,207,355
TOTAL INDUSTRIALS
  
  
112,173,185
Materials - 0.6%
  
  
  
Containers & Packaging - 0.6%
  
  
  
Shenzhen YUTO Packaging Technology Co Ltd A Shares (China)
 
8,219,469
32,001,339
TOTAL CHINA
  
  
258,687,228
FRANCE - 3.3%
 
  
  
Energy - 1.7%
  
  
  
Energy Equipment & Services - 0.9%
  
  
  
Vallourec SACA (c)
  
1,923,400
46,375,272
Oil, Gas & Consumable Fuels - 0.8%
  
  
  
Gaztransport Et Technigaz SA
 
175,000
39,492,505
TOTAL ENERGY
  
  
85,867,777
Industrials - 0.6%
  
  
  
Trading Companies & Distributors - 0.6%
  
  
  
Thermador Groupe (a)
  
404,966
35,350,881
Real Estate - 1.0%
  
  
  
Industrial REITs - 0.6%
  
  
  
ARGAN SA
 
352,600
30,820,332
Residential REITs - 0.4%
  
  
  
Altarea SCA (a)
  
164,757
19,150,945
TOTAL REAL ESTATE
  
  
49,971,277
TOTAL FRANCE
  
  
171,189,935
GERMANY - 1.3%
 
  
  
Industrials - 1.3%
  
  
  
Aerospace & Defense - 0.5%
  
  
  
Rheinmetall AG
 
21,225
28,058,371
Machinery - 0.8%
  
  
  
JOST Werke SE (d)(e)
  
490,120
32,724,031
Stabilus SE
 
408,200
6,768,893
 
  
  
39,492,924
TOTAL GERMANY
  
  
67,551,295
GREECE - 1.0%
 
  
  
Financials - 0.4%
  
  
  
Banks - 0.4%
  
  
  
Alpha Bank SA
 
4,000,000
19,677,351
Industrials - 0.6%
  
  
  
Transportation Infrastructure - 0.6%
  
  
  
Athens International Airport SA
 
2,612,300
31,810,667
TOTAL GREECE
  
  
51,488,018
HONG KONG - 1.4%
 
  
  
Communication Services - 0.9%
  
  
  
Diversified Telecommunication Services - 0.6%
  
  
  
HKT Trust & HKT Ltd unit
 
16,905,000
28,604,681
Media - 0.3%
  
  
  
Pico Far East Holdings Ltd
 
61,300,071
17,587,111
TOTAL COMMUNICATION SERVICES
  
  
46,191,792
Consumer Discretionary - 0.0%
  
  
  
Hotels, Restaurants & Leisure - 0.0%
  
  
  
Magnificent Hotel Investment Ltd (c)
  
78,482,000
660,487
Consumer Staples - 0.5%
  
  
  
Food Products - 0.5%
  
  
  
WH Group Ltd (d)(e)
  
23,683,500
25,518,410
Materials - 0.0%
  
  
  
Metals & Mining - 0.0%
  
  
  
China Metal Recycling Holdings Ltd (c)(f)
  
436,800
1
TOTAL HONG KONG
  
  
72,370,690
INDIA - 3.4%
 
  
  
Consumer Staples - 0.3%
  
  
  
Food Products - 0.3%
  
  
  
KRBL Ltd
 
3,679,149
13,539,037
Financials - 1.1%
  
  
  
Consumer Finance - 1.1%
  
  
  
Shriram Finance Ltd
 
5,057,760
55,448,296
Information Technology - 1.0%
  
  
  
Electronic Equipment, Instruments & Components - 1.0%
  
  
  
Redington Ltd
 
16,000,000
53,932,357
Materials - 0.5%
  
  
  
Metals & Mining - 0.5%
  
  
  
National Aluminium Co Ltd
 
7,304,600
26,881,133
Real Estate - 0.5%
  
  
  
Office REITs - 0.5%
  
  
  
Embassy Office Parks REIT
 
6,206,600
28,494,197
TOTAL INDIA
  
  
178,295,020
INDONESIA - 0.7%
 
  
  
Consumer Discretionary - 0.4%
  
  
  
Automobile Components - 0.4%
  
  
  
Selamat Sempurna Tbk PT
 
206,988,500
20,405,403
Consumer Staples - 0.3%
  
  
  
Consumer Staples Distribution & Retail - 0.3%
  
  
  
Sumber Alfaria Trijaya Tbk PT
 
209,139,000
15,380,134
TOTAL INDONESIA
  
  
35,785,537
IRELAND - 0.4%
 
  
  
Real Estate - 0.4%
  
  
  
Residential REITs - 0.4%
  
  
  
Irish Residential Properties Reit PLC
 
17,030,600
21,288,499
ISRAEL - 0.7%
 
  
  
Communication Services - 0.7%
  
  
  
Diversified Telecommunication Services - 0.7%
  
  
  
Bezeq The Israeli Telecommunication Corp Ltd
 
15,469,984
37,059,127
ITALY - 3.0%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Automobile Components - 0.5%
  
  
  
Pirelli & C SpA (d)(e)
  
3,375,800
25,692,505
Hotels, Restaurants & Leisure - 0.4%
  
  
  
Lottomatica Group Spa
 
811,200
21,964,020
TOTAL CONSUMER DISCRETIONARY
  
  
47,656,525
Consumer Staples - 0.1%
  
  
  
Consumer Staples Distribution & Retail - 0.1%
  
  
  
MARR SpA
 
985,827
7,241,457
Financials - 1.3%
  
  
  
Capital Markets - 0.6%
  
  
  
Banca Generali SpA
 
400,300
30,165,949
Financial Services - 0.7%
  
  
  
Banca Mediolanum SpA
 
1,345,700
35,955,066
TOTAL FINANCIALS
  
  
66,121,015
Health Care - 0.7%
  
  
  
Pharmaceuticals - 0.7%
  
  
  
Recordati Industria Chimica e Farmaceutica SpA
 
597,311
35,575,961
TOTAL ITALY
  
  
156,594,958
JAPAN - 26.8%
 
  
  
Consumer Discretionary - 3.5%
  
  
  
Automobile Components - 1.6%
  
  
  
Niterra Co Ltd
 
810,000
47,302,899
Toyo Tire Corp
 
1,220,000
32,359,795
 
  
  
79,662,694
Distributors - 0.5%
  
  
  
Central Automotive Products Ltd
 
2,122,300
27,263,312
Leisure Products - 0.5%
  
  
  
Roland Corp
 
1,025,000
26,931,174
Specialty Retail - 0.9%
  
  
  
ABC-Mart Inc
 
1,568,500
26,838,268
ARCLANDS CORP
 
1,639,489
19,691,034
 
  
  
46,529,302
TOTAL CONSUMER DISCRETIONARY
  
  
180,386,482
Consumer Staples - 0.7%
  
  
  
Beverages - 0.4%
  
  
  
Coca-Cola Bottlers Japan Holdings Inc (a)
  
850,000
20,426,295
Consumer Staples Distribution & Retail - 0.3%
  
  
  
Tsuruha Holdings Inc (a)
  
1,051,950
16,058,822
TOTAL CONSUMER STAPLES
  
  
36,485,117
Energy - 1.0%
  
  
  
Oil, Gas & Consumable Fuels - 1.0%
  
  
  
Itochu Enex Co Ltd
 
1,414,900
19,191,776
San-Ai Obbli Co Ltd
 
2,127,900
30,948,415
TOTAL ENERGY
  
  
50,140,191
Financials - 3.2%
  
  
  
Banks - 3.2%
  
  
  
Hachijuni Nagano Bank Ltd
 
3,868,900
60,115,084
Hokuhoku Financial Group Inc
 
1,295,800
59,955,098
Kyoto Financial Group Inc (a)
  
1,731,200
47,718,763
TOTAL FINANCIALS
  
  
167,788,945
Health Care - 1.4%
  
  
  
Health Care Providers & Services - 1.4%
  
  
  
As One Corp
 
1,997,600
30,099,852
Ship Healthcare Holdings Inc
 
2,721,200
43,593,581
TOTAL HEALTH CARE
  
  
73,693,433
Industrials - 7.9%
  
  
  
Building Products - 1.1%
  
  
  
Nichias Corp
 
1,550,000
32,125,712
Nitto Boseki Co Ltd (a)
  
1,451,000
24,921,267
 
  
  
57,046,979
Commercial Services & Supplies - 0.2%
  
  
  
Prestige International Inc
 
3,568,700
15,866,142
Electrical Equipment - 0.6%
  
  
  
Furukawa Electric Co Ltd
 
1,600,000
30,531,085
Industrial Conglomerates - 0.6%
  
  
  
Hikari Tsushin Inc
 
124,600
30,466,789
Machinery - 2.6%
  
  
  
Ebara Corp
 
1,504,400
51,070,774
Kawasaki Heavy Industries Ltd
 
2,887,000
49,323,415
Namura Shipbuilding Co Ltd (a)
  
1,372,700
36,813,151
 
  
  
137,207,340
Trading Companies & Distributors - 2.2%
  
  
  
Inaba Denki Sangyo Co Ltd
 
2,845,400
50,744,511
Mitani Corp
 
1,362,042
24,733,494
Sojitz Corp
 
1,100,200
36,758,242
 
  
  
112,236,247
Transportation Infrastructure - 0.6%
  
  
  
Kamigumi Co Ltd
 
934,600
30,350,500
TOTAL INDUSTRIALS
  
  
413,705,082
Information Technology - 4.5%
  
  
  
Electronic Equipment, Instruments & Components - 1.5%
  
  
  
Maruwa Co Ltd/Aichi
 
125,800
42,596,572
Yokogawa Electric Corp
 
1,000,000
35,664,723
 
  
  
78,261,295
IT Services - 0.6%
  
  
  
NSD Co Ltd
 
1,606,800
28,706,524
Semiconductors & Semiconductor Equipment - 1.6%
  
  
  
Renesas Electronics Corp
 
2,924,500
58,617,973
SUMCO Corp
 
1,300,000
26,429,031
 
  
  
85,047,004
Software - 0.8%
  
  
  
Justsystems Corp
 
634,700
16,103,812
Systena Corp
 
10,021,200
26,397,117
 
  
  
42,500,929
TOTAL INFORMATION TECHNOLOGY
  
  
234,515,752
Materials - 2.7%
  
  
  
Chemicals - 2.7%
  
  
  
Chugoku Marine Paints Ltd
 
1,460,000
32,561,283
Nissan Chemical Corp
 
400,000
18,593,048
NOF Corp
 
2,351,800
40,863,478
Tokyo Ohka Kogyo Co Ltd (a)
  
900,000
48,742,068
TOTAL MATERIALS
  
  
140,759,877
Real Estate - 1.2%
  
  
  
Real Estate Management & Development - 1.2%
  
  
  
Starts Corp Inc
 
925,200
27,434,665
Tokyo Tatemono Co Ltd
 
1,560,000
32,917,979
TOTAL REAL ESTATE
  
  
60,352,644
Utilities - 0.7%
  
  
  
Electric Utilities - 0.7%
  
  
  
Kansai Electric Power Co Inc/The
 
2,439,000
36,937,380
TOTAL JAPAN
  
  
1,394,764,903
KOREA (SOUTH) - 3.0%
 
  
  
Financials - 0.3%
  
  
  
Insurance - 0.3%
  
  
  
Seoul Guarantee Insurance Co
 
717,263
21,182,449
Industrials - 0.6%
  
  
  
Electrical Equipment - 0.6%
  
  
  
Vitzrocell Co Ltd
 
1,586,882
29,801,919
Information Technology - 1.0%
  
  
  
Electronic Equipment, Instruments & Components - 1.0%
  
  
  
LG Innotek Co Ltd
 
146,280
49,918,862
Materials - 1.1%
  
  
  
Chemicals - 1.1%
  
  
  
Hansol Chemical Co Ltd
 
195,000
27,395,293
Soulbrain Co Ltd
 
161,800
27,683,610
TOTAL MATERIALS
  
  
55,078,903
TOTAL KOREA (SOUTH)
  
  
155,982,133
MEXICO - 1.6%
 
  
  
Consumer Staples - 0.6%
  
  
  
Food Products - 0.6%
  
  
  
Gruma SAB de CV Series B
 
2,127,500
31,720,565
Financials - 1.0%
  
  
  
Capital Markets - 0.5%
  
  
  
Bolsa Mexicana de Valores SAB de CV
 
11,125,855
24,725,549
Insurance - 0.5%
  
  
  
Qualitas Controladora SAB de CV (a)
  
2,725,935
24,918,158
TOTAL FINANCIALS
  
  
49,643,707
TOTAL MEXICO
  
  
81,364,272
NETHERLANDS - 0.9%
 
  
  
Consumer Staples - 0.5%
  
  
  
Consumer Staples Distribution & Retail - 0.5%
  
  
  
Acomo NV (a)
  
957,899
26,289,510
Financials - 0.4%
  
  
  
Capital Markets - 0.4%
  
  
  
Van Lanschot Kempen NV depository receipt
 
296,041
22,206,748
TOTAL NETHERLANDS
  
  
48,496,258
NORWAY - 1.6%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Broadline Retail - 0.9%
  
  
  
Europris ASA (d)(e)
  
4,658,300
41,925,929
Financials - 0.6%
  
  
  
Banks - 0.6%
  
  
  
SpareBank 1 SMN
 
1,547,100
32,047,130
Real Estate - 0.1%
  
  
  
Real Estate Management & Development - 0.1%
  
  
  
Selvaag Bolig ASA
 
2,186,000
7,715,294
TOTAL NORWAY
  
  
81,688,353
PERU - 0.8%
 
  
  
Financials - 0.8%
  
  
  
Banks - 0.8%
  
  
  
Intercorp Financial Services Inc (United States) (e)
  
683,100
39,831,561
PHILIPPINES - 0.5%
 
  
  
Real Estate - 0.5%
  
  
  
Real Estate Management & Development - 0.5%
  
  
  
Robinsons Land Corp
 
95,921,000
26,768,168
POLAND - 0.7%
 
  
  
Financials - 0.7%
  
  
  
Banks - 0.7%
  
  
  
mBank SA (c)
  
105,000
37,987,365
PORTUGAL - 0.6%
 
  
  
Consumer Staples - 0.6%
  
  
  
Consumer Staples Distribution & Retail - 0.6%
  
  
  
Sonae SGPS SA
 
14,000,000
32,933,964
ROMANIA - 0.7%
 
  
  
Financials - 0.7%
  
  
  
Banks - 0.7%
  
  
  
Banca Transilvania SA
 
4,604,777
37,327,008
SAUDI ARABIA - 0.5%
 
  
  
Financials - 0.5%
  
  
  
Insurance - 0.5%
  
  
  
Bupa Arabia for Cooperative Insurance Co
 
607,600
25,400,932
SINGAPORE - 1.8%
 
  
  
Consumer Discretionary - 0.5%
  
  
  
Specialty Retail - 0.5%
  
  
  
Hour Glass Ltd/The
 
11,578,380
24,874,291
Industrials - 0.8%
  
  
  
Construction & Engineering - 0.4%
  
  
  
Boustead Singapore Ltd
 
12,550,066
19,377,019
Professional Services - 0.4%
  
  
  
HRnetgroup Ltd (e)
  
36,239,100
20,895,739
TOTAL INDUSTRIALS
  
  
40,272,758
Real Estate - 0.5%
  
  
  
Industrial REITs - 0.5%
  
  
  
Mapletree Industrial Trust
 
17,411,231
26,200,614
TOTAL SINGAPORE
  
  
91,347,663
SOUTH AFRICA - 0.6%
 
  
  
Consumer Discretionary - 0.6%
  
  
  
Specialty Retail - 0.6%
  
  
  
Pepkor Holdings Ltd (d)(e)
  
23,127,700
29,767,687
SPAIN - 2.9%
 
  
  
Consumer Discretionary - 0.6%
  
  
  
Automobile Components - 0.6%
  
  
  
CIE Automotive SA
 
952,800
29,061,179
Consumer Staples - 0.4%
  
  
  
Food Products - 0.4%
  
  
  
Viscofan SA
 
366,371
24,250,393
Industrials - 1.9%
  
  
  
Air Freight & Logistics - 1.3%
  
  
  
Logista Integral SA
 
1,590,000
67,839,815
Commercial Services & Supplies - 0.6%
  
  
  
Prosegur Comp Securidad SA
 
8,592,981
29,925,168
TOTAL INDUSTRIALS
  
  
97,764,983
TOTAL SPAIN
  
  
151,076,555
SWEDEN - 3.2%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Specialty Retail - 0.3%
  
  
  
Haypp Group AB (c)
  
1,232,700
17,088,110
Industrials - 1.1%
  
  
  
Machinery - 0.7%
  
  
  
Beijer Alma AB B Shares
 
1,098,000
34,362,227
Trading Companies & Distributors - 0.4%
  
  
  
Alligo AB B Shares
 
1,697,197
24,703,483
TOTAL INDUSTRIALS
  
  
59,065,710
Materials - 1.8%
  
  
  
Metals & Mining - 1.8%
  
  
  
Alleima AB
 
4,000,000
47,468,022
Granges AB
 
2,151,776
40,494,661
TOTAL MATERIALS
  
  
87,962,683
TOTAL SWEDEN
  
  
164,116,503
SWITZERLAND - 0.4%
 
  
  
Industrials - 0.4%
  
  
  
Machinery - 0.4%
  
  
  
Anhui Heli Co Ltd A ELS (Ubs Ag Londn Branch Warrant Program) warrants 11/17/2027 (c)(d)
  
8,014,256
21,480,755
TAIWAN - 4.8%
 
  
  
Communication Services - 0.6%
  
  
  
Entertainment - 0.6%
  
  
  
International Games System Co Ltd
 
1,398,000
33,470,902
Industrials - 0.6%
  
  
  
Professional Services - 0.3%
  
  
  
Sporton International Inc
 
2,419,977
14,322,177
Trading Companies & Distributors - 0.3%
  
  
  
Lumax International Corp Ltd
 
4,537,292
15,638,147
TOTAL INDUSTRIALS
  
  
29,960,324
Information Technology - 3.5%
  
  
  
Electronic Equipment, Instruments & Components - 3.2%
  
  
  
Scientech Corp
 
1,000,000
19,664,826
Test Research Co Ltd
 
5,732,000
46,815,019
Tripod Technology Corp
 
4,225,000
47,460,507
Yageo Corp
 
3,407,596
51,312,581
 
  
  
165,252,933
Semiconductors & Semiconductor Equipment - 0.3%
  
  
  
Topco Scientific Co Ltd
 
1,000,000
15,271,036
TOTAL INFORMATION TECHNOLOGY
  
  
180,523,969
Materials - 0.1%
  
  
  
Chemicals - 0.1%
  
  
  
Yung Chi Paint & Varnish Manufacturing Co Ltd
 
2,531,182
6,103,250
TOTAL TAIWAN
  
  
250,058,445
TURKEY - 0.4%
 
  
  
Health Care - 0.4%
  
  
  
Health Care Providers & Services - 0.4%
  
  
  
MLP Saglik Hizmetleri AS (c)(d)(e)
  
2,536,000
21,614,205
UNITED ARAB EMIRATES - 0.1%
 
  
  
Real Estate - 0.1%
  
  
  
Real Estate Management & Development - 0.1%
  
  
  
RAK Properties PJSC (c)
  
31,890,676
9,290,232
UNITED KINGDOM - 9.7%
 
  
  
Communication Services - 0.5%
  
  
  
Media - 0.5%
  
  
  
Informa PLC
 
2,303,933
27,505,203
Consumer Staples - 1.3%
  
  
  
Food Products - 1.3%
  
  
  
Cranswick PLC
 
432,100
31,156,408
Premier Foods PLC
 
13,855,500
36,283,097
TOTAL CONSUMER STAPLES
  
  
67,439,505
Energy - 1.1%
  
  
  
Energy Equipment & Services - 1.1%
  
  
  
Subsea 7 SA
 
1,726,600
58,005,744
Financials - 2.9%
  
  
  
Banks - 1.2%
  
  
  
Close Brothers Group PLC (c)
  
3,500,000
20,076,084
Metro Bank Holdings PLC (c)
  
10,000,000
23,855,175
Shawbrook Group PLC (d)(e)
  
4,084,565
18,056,310
 
  
  
61,987,569
Insurance - 1.7%
  
  
  
Hiscox Ltd
 
1,740,894
42,444,384
Lancashire Holdings Ltd
 
2,827,100
22,956,600
Sabre Insurance Group PLC (d)(e)
  
9,790,000
24,093,107
 
  
  
89,494,091
TOTAL FINANCIALS
  
  
151,481,660
Health Care - 0.8%
  
  
  
Health Care Equipment & Supplies - 0.8%
  
  
  
Convatec Group PLC (d)(e)
  
13,077,700
39,481,053
Industrials - 2.6%
  
  
  
Commercial Services & Supplies - 0.6%
  
  
  
Mears Group PLC (b)
  
5,412,896
31,442,444
Machinery - 0.6%
  
  
  
Bodycote PLC
 
1,440,071
14,022,682
Luxfer Holdings PLC
 
1,082,259
18,430,871
 
  
  
32,453,553
Passenger Airlines - 0.6%
  
  
  
JET2 PLC
 
1,585,000
32,897,230
Trading Companies & Distributors - 0.8%
  
  
  
Ashtead Technology Holdings plc (a)(b)
  
7,342,000
40,520,764
TOTAL INDUSTRIALS
  
  
137,313,991
Real Estate - 0.5%
  
  
  
Residential REITs - 0.5%
  
  
  
Grainger PLC
 
10,871,166
25,567,066
TOTAL UNITED KINGDOM
  
  
506,794,222
UNITED STATES - 2.5%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Diversified Consumer Services - 0.3%
  
  
  
Covista Inc (c)
  
107,400
13,408,890
Energy - 0.6%
  
  
  
Oil, Gas & Consumable Fuels - 0.6%
  
  
  
Antero Resources Corp (c)
  
906,400
32,757,296
Industrials - 0.5%
  
  
  
Machinery - 0.5%
  
  
  
Impro Precision Industries Ltd (d)(e)
  
26,391,300
24,465,055
Materials - 1.1%
  
  
  
Construction Materials - 1.1%
  
  
  
GCC SAB de CV
 
1,468,100
16,915,848
RHI Magnesita NV (a)
  
1,056,191
40,213,351
TOTAL MATERIALS
  
  
57,129,199
TOTAL UNITED STATES
  
  
127,760,440
 
TOTAL COMMON STOCKS
 (Cost $3,841,745,064)
  
  
  
5,072,570,436
 
  
  
  
Money Market Funds - 1.5%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (g)
  
3.69
28,130,263
28,135,889
Fidelity Securities Lending Cash Central Fund (g)(h)
  
3.72
51,850,714
51,855,899
 
TOTAL MONEY MARKET FUNDS
 (Cost $79,991,336)
  
  
  
79,991,788
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.0%
 (Cost $3,921,736,400)
 
  
 
5,152,562,224
NET OTHER ASSETS (LIABILITIES) - 1.0%  
51,385,339
NET ASSETS - 100.0%
5,203,947,563
 
  
 
 
 
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Affiliated company.
 
(c)
Non-income producing.
 
(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 $334,026,402 or 6.4% of net assets.
 
(e)
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $418,478,209 or 8.0% of net assets.
 
(f)
Level 3 security.
 
(g)
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.
 
(h)
Investment made with cash collateral received from securities on loan.
 
At period end, the value of non-cash collateral for securities on loan amounted to $3,159,581.
 
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
Fidelity Cash Central Fund
68,458,070
578,807,010
619,131,372
1,668,712
1,729
452
28,135,889
28,130,263
Fidelity Securities Lending Cash Central Fund
84,002,365
766,624,116
798,770,437
669,745
(145)
-
51,855,899
51,850,714
 
152,460,435
1,345,431,126
1,417,901,809
2,338,457
1,584
452
79,991,788
  
 
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 income 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) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
Ashtead Technology Holdings plc
31,587,982
-
-
129,878
-
8,932,782
40,520,764
7,342,000
Genesis Land Development Corp
12,155,617
-
-
722,596
-
775,333
12,930,950
5,135,199
Mears Group PLC
26,705,438
-
1,827,224
899,523
417,327
6,146,903
31,442,444
5,412,896
Mincon Group Plc
7,017,828
-
8,119,588
165,262
(5,814,948)
6,916,708
-
-
Vitzrocell Co Ltd
30,852,290
-
39,151,238
459,329
27,298,282
10,802,585
-
-
Total
108,319,155
-
49,098,050
2,376,588
21,900,661
33,574,311
84,894,158
  
 
 
 
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.