Quarterly Holdings Report
for
Fidelity® International Value Fund
July 31, 2026
FIV-NPRT3-0926
1.834741.120
Common Stocks - 97.5%
 
  
Shares
Value ($)
 
AUSTRALIA - 3.0%
 
  
  
Financials - 0.6%
  
  
  
Capital Markets - 0.6%
  
  
  
Macquarie Group Ltd
 
176,101
31,261,246
Materials - 2.4%
  
  
  
Metals & Mining - 2.4%
  
  
  
Glencore PLC
 
5,212,207
38,389,721
Rio Tinto PLC
 
918,207
89,221,862
TOTAL MATERIALS
  
  
127,611,583
TOTAL AUSTRALIA
  
  
158,872,829
AUSTRIA - 0.7%
 
  
  
Financials - 0.7%
  
  
  
Banks - 0.7%
  
  
  
Erste Group Bank AG
 
264,100
34,352,892
BELGIUM - 1.9%
 
  
  
Financials - 1.6%
  
  
  
Banks - 1.6%
  
  
  
KBC Group NV
 
569,897
81,917,079
Health Care - 0.3%
  
  
  
Pharmaceuticals - 0.3%
  
  
  
UCB SA
 
62,491
16,062,508
TOTAL BELGIUM
  
  
97,979,587
DENMARK - 0.6%
 
  
  
Industrials - 0.6%
  
  
  
Air Freight & Logistics - 0.6%
  
  
  
DSV A/S
 
155,112
33,522,963
FINLAND - 1.3%
 
  
  
Financials - 0.9%
  
  
  
Insurance - 0.9%
  
  
  
Mandatum Holding Oy
 
692,137
4,744,929
Sampo Oyj A Shares
 
4,002,610
44,315,920
TOTAL FINANCIALS
  
  
49,060,849
Information Technology - 0.2%
  
  
  
Communications Equipment - 0.2%
  
  
  
Nokia Oyj
 
1,073,600
9,923,212
Utilities - 0.2%
  
  
  
Electric Utilities - 0.2%
  
  
  
Fortum Oyj
 
415,868
9,459,285
TOTAL FINLAND
  
  
68,443,346
FRANCE - 11.0%
 
  
  
Communication Services - 1.4%
  
  
  
Diversified Telecommunication Services - 1.1%
  
  
  
Orange SA
 
2,986,000
57,055,579
Entertainment - 0.1%
  
  
  
Vivendi SE
 
4,137,937
7,615,573
Media - 0.2%
  
  
  
Canal+ SA
 
2,979,068
10,559,552
TOTAL COMMUNICATION SERVICES
  
  
75,230,704
Consumer Discretionary - 0.7%
  
  
  
Textiles, Apparel & Luxury Goods - 0.7%
  
  
  
LVMH Moet Hennessy Louis Vuitton SE
 
68,500
37,615,766
Consumer Staples - 0.9%
  
  
  
Food Products - 0.9%
  
  
  
Danone SA
 
631,022
49,084,759
Energy - 0.4%
  
  
  
Oil, Gas & Consumable Fuels - 0.4%
  
  
  
TotalEnergies SE
 
217,446
19,162,151
Financials - 4.1%
  
  
  
Banks - 2.1%
  
  
  
BNP Paribas SA
 
667,179
84,777,590
Societe Generale SA Series A
 
212,800
20,002,489
 
  
  
104,780,079
Insurance - 2.0%
  
  
  
AXA SA
 
2,015,215
104,447,858
TOTAL FINANCIALS
  
  
209,227,937
Industrials - 1.4%
  
  
  
Building Products - 1.0%
  
  
  
Cie de Saint-Gobain SA
 
535,568
50,336,491
Trading Companies & Distributors - 0.4%
  
  
  
Rexel SA
 
600,600
24,822,135
TOTAL INDUSTRIALS
  
  
75,158,626
Materials - 1.5%
  
  
  
Chemicals - 1.5%
  
  
  
Air Liquide SA
 
396,157
78,046,310
Utilities - 0.6%
  
  
  
Multi-Utilities - 0.6%
  
  
  
Veolia Environnement SA
 
836,800
33,299,091
TOTAL FRANCE
  
  
576,825,344
GERMANY - 11.1%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Automobiles - 0.3%
  
  
  
Bayerische Motoren Werke AG
 
234,731
16,051,327
Financials - 2.5%
  
  
  
Banks - 0.2%
  
  
  
Commerzbank AG
 
261,947
11,538,852
Capital Markets - 0.4%
  
  
  
Deutsche Bank AG
 
625,654
22,996,949
Deutsche Boerse AG
 
9
2,711
 
  
  
22,999,660
Insurance - 1.9%
  
  
  
Hannover Rueck SE
 
161,541
46,682,020
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
78,844
47,361,602
 
  
  
94,043,622
TOTAL FINANCIALS
  
  
128,582,134
Health Care - 1.1%
  
  
  
Health Care Providers & Services - 0.6%
  
  
  
Fresenius SE & Co KGaA
 
652,952
33,559,941
Pharmaceuticals - 0.5%
  
  
  
Bayer AG
 
482,677
26,786,538
TOTAL HEALTH CARE
  
  
60,346,479
Industrials - 4.4%
  
  
  
Aerospace & Defense - 0.9%
  
  
  
Rheinmetall AG
 
37,146
49,105,123
Air Freight & Logistics - 1.2%
  
  
  
Deutsche Post AG
 
900,784
60,173,992
Industrial Conglomerates - 2.3%
  
  
  
Siemens AG
 
356,539
116,818,783
TOTAL INDUSTRIALS
  
  
226,097,898
Materials - 0.3%
  
  
  
Construction Materials - 0.3%
  
  
  
Heidelberg Materials AG
 
80,100
14,911,819
Real Estate - 0.4%
  
  
  
Real Estate Management & Development - 0.4%
  
  
  
Vonovia SE
 
968,346
23,492,707
Utilities - 2.1%
  
  
  
Independent Power and Renewable Electricity Producers - 0.9%
  
  
  
RWE AG
 
729,807
48,121,370
Multi-Utilities - 1.2%
  
  
  
E.ON SE
 
2,913,060
62,756,854
TOTAL UTILITIES
  
  
110,878,224
TOTAL GERMANY
  
  
580,360,588
HONG KONG - 0.6%
 
  
  
Financials - 0.6%
  
  
  
Insurance - 0.6%
  
  
  
Prudential PLC
 
2,117,701
31,825,976
INDIA - 0.2%
 
  
  
Energy - 0.2%
  
  
  
Oil, Gas & Consumable Fuels - 0.2%
  
  
  
Reliance Industries Ltd GDR (c)
  
235,800
12,898,259
ISRAEL - 0.4%
 
  
  
Health Care - 0.4%
  
  
  
Pharmaceuticals - 0.4%
  
  
  
Teva Pharmaceutical Industries Ltd ADR (b)
  
655,392
22,945,274
ITALY - 6.2%
 
  
  
Energy - 1.3%
  
  
  
Oil, Gas & Consumable Fuels - 1.3%
  
  
  
Eni SpA
 
2,451,774
68,200,232
Financials - 4.4%
  
  
  
Banks - 3.3%
  
  
  
BPER Banca SPA
 
2,819,800
45,750,749
UniCredit SpA
 
1,360,135
128,276,869
 
  
  
174,027,618
Insurance - 1.1%
  
  
  
Generali
 
1,099,800
55,736,814
TOTAL FINANCIALS
  
  
229,764,432
Industrials - 0.5%
  
  
  
Passenger Airlines - 0.5%
  
  
  
Ryanair Holdings PLC ADR
 
507,955
29,720,447
TOTAL ITALY
  
  
327,685,111
JAPAN - 21.8%
 
  
  
Communication Services - 0.4%
  
  
  
Interactive Media & Services - 0.1%
  
  
  
LY Corp
 
3,312,856
9,230,427
Wireless Telecommunication Services - 0.3%
  
  
  
SoftBank Group Corp
 
452,200
14,084,903
TOTAL COMMUNICATION SERVICES
  
  
23,315,330
Consumer Discretionary - 3.2%
  
  
  
Automobiles - 2.1%
  
  
  
Toyota Motor Corp
 
5,807,783
109,910,449
Household Durables - 1.1%
  
  
  
Panasonic Holdings Corp
 
1,601,900
42,358,188
Sumitomo Forestry Co Ltd
 
1,877,038
15,831,732
 
  
  
58,189,920
TOTAL CONSUMER DISCRETIONARY
  
  
168,100,369
Consumer Staples - 0.1%
  
  
  
Personal Care Products - 0.1%
  
  
  
Shiseido Co Ltd
 
390,700
7,717,749
Energy - 0.5%
  
  
  
Oil, Gas & Consumable Fuels - 0.5%
  
  
  
Inpex Corp
 
1,120,659
25,829,696
Financials - 9.6%
  
  
  
Banks - 6.6%
  
  
  
Mitsubishi UFJ Financial Group Inc
 
8,353,924
186,597,406
Sumitomo Mitsui Financial Group Inc
 
3,600,605
154,714,170
 
  
  
341,311,576
Financial Services - 1.4%
  
  
  
ORIX Corp
 
1,887,267
76,168,879
Insurance - 1.6%
  
  
  
Tokio Marine Holdings Inc
 
1,609,993
82,055,547
TOTAL FINANCIALS
  
  
499,536,002
Industrials - 5.9%
  
  
  
Building Products - 0.6%
  
  
  
Daikin Industries Ltd
 
215,200
31,172,768
Industrial Conglomerates - 1.3%
  
  
  
Hitachi Ltd
 
2,123,186
69,577,984
Machinery - 1.2%
  
  
  
MINEBEA MITSUMI Inc
 
466,241
10,618,232
Mitsubishi Heavy Industries Ltd
 
1,266,173
29,580,762
SMC Corp
 
55,600
24,022,554
 
  
  
64,221,548
Trading Companies & Distributors - 2.8%
  
  
  
ITOCHU Corp
 
6,267,330
78,652,559
Mitsui & Co Ltd
 
1,607,822
49,334,867
Sumitomo Corp
 
1,605,000
16,659,843
 
  
  
144,647,269
TOTAL INDUSTRIALS
  
  
309,619,569
Information Technology - 0.9%
  
  
  
Electronic Equipment, Instruments & Components - 0.1%
  
  
  
Murata Manufacturing Co Ltd
 
132,600
6,041,834
IT Services - 0.2%
  
  
  
TISI Inc
 
469,908
11,265,751
Semiconductors & Semiconductor Equipment - 0.6%
  
  
  
Renesas Electronics Corp
 
1,461,077
29,285,475
TOTAL INFORMATION TECHNOLOGY
  
  
46,593,060
Materials - 0.7%
  
  
  
Chemicals - 0.7%
  
  
  
Shin-Etsu Chemical Co Ltd
 
1,050,153
37,438,099
Real Estate - 0.5%
  
  
  
Real Estate Management & Development - 0.5%
  
  
  
Sumitomo Realty & Development Co Ltd
 
1,095,100
24,545,941
TOTAL JAPAN
  
  
1,142,695,815
NETHERLANDS - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Software - 0.1%
  
  
  
Nebius Group NV Class A (a)(b)
  
31,900
6,074,078
PORTUGAL - 1.1%
 
  
  
Energy - 0.7%
  
  
  
Oil, Gas & Consumable Fuels - 0.7%
  
  
  
Galp Energia SGPS SA
 
1,613,700
36,648,111
Financials - 0.4%
  
  
  
Banks - 0.4%
  
  
  
Banco Comercial Portugues SA
 
18,640,000
22,891,872
TOTAL PORTUGAL
  
  
59,539,983
SINGAPORE - 1.1%
 
  
  
Communication Services - 0.2%
  
  
  
Diversified Telecommunication Services - 0.2%
  
  
  
Singapore Telecommunications Ltd
 
4,241,612
14,675,547
Financials - 0.9%
  
  
  
Banks - 0.9%
  
  
  
United Overseas Bank Ltd
 
1,353,216
45,764,542
TOTAL SINGAPORE
  
  
60,440,089
SOUTH AFRICA - 0.7%
 
  
  
Energy - 0.0%
  
  
  
Oil, Gas & Consumable Fuels - 0.0%
  
  
  
Thungela Resources Ltd (United Kingdom) (a)
  
199,681
1,215,077
Materials - 0.7%
  
  
  
Metals & Mining - 0.7%
  
  
  
Anglo American PLC
 
522,307
26,439,965
Valterra Platinum Ltd (United Kingdom) (a)
  
143,193
10,739,802
TOTAL MATERIALS
  
  
37,179,767
TOTAL SOUTH AFRICA
  
  
38,394,844
SPAIN - 4.7%
 
  
  
Financials - 4.7%
  
  
  
Banks - 4.7%
  
  
  
Banco Santander SA
 
14,267,631
202,918,163
Bankinter SA
 
2,485,541
45,658,592
 
  
  
  
TOTAL SPAIN
  
  
248,576,755
SWEDEN - 1.9%
 
  
  
Financials - 1.2%
  
  
  
Financial Services - 1.2%
  
  
  
Investor AB B Shares
 
1,473,530
63,600,936
Industrials - 0.7%
  
  
  
Machinery - 0.7%
  
  
  
Volvo AB B Shares
 
955,714
36,557,728
TOTAL SWEDEN
  
  
100,158,664
SWITZERLAND - 4.1%
 
  
  
Consumer Staples - 1.0%
  
  
  
Food Products - 1.0%
  
  
  
Nestle SA
 
515,720
51,546,765
Financials - 3.1%
  
  
  
Capital Markets - 0.6%
  
  
  
UBS Group AG (United States) (a)
  
620,400
32,719,896
Insurance - 2.5%
  
  
  
Swiss Life Holding AG
 
25,257
29,829,159
Zurich Insurance Group AG
 
134,148
102,184,313
 
  
  
132,013,472
TOTAL FINANCIALS
  
  
164,733,368
TOTAL SWITZERLAND
  
  
216,280,133
UNITED KINGDOM - 14.5%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Household Durables - 0.8%
  
  
  
Barratt Redrow PLC
 
10,496,205
41,714,187
Specialty Retail - 0.1%
  
  
  
JD Sports Fashion PLC
 
4,224,070
5,092,949
TOTAL CONSUMER DISCRETIONARY
  
  
46,807,136
Consumer Staples - 2.9%
  
  
  
Tobacco - 2.9%
  
  
  
British American Tobacco PLC
 
1,343,533
81,499,981
Imperial Brands PLC
 
1,685,949
63,983,246
TOTAL CONSUMER STAPLES
  
  
145,483,227
Financials - 6.6%
  
  
  
Banks - 5.8%
  
  
  
HSBC Holdings PLC
 
5,973,982
127,217,804
Lloyds Banking Group PLC
 
69,941,344
108,102,528
Standard Chartered PLC
 
2,168,725
64,124,011
 
  
  
299,444,343
Capital Markets - 0.1%
  
  
  
St James's Place PLC
 
494,800
7,025,440
Insurance - 0.7%
  
  
  
Beazley PLC
 
2,155,807
37,495,334
TOTAL FINANCIALS
  
  
343,965,117
Health Care - 1.8%
  
  
  
Pharmaceuticals - 1.8%
  
  
  
Astrazeneca PLC
 
245,725
41,834,136
GSK PLC
 
2,048,601
53,269,489
TOTAL HEALTH CARE
  
  
95,103,625
Industrials - 2.0%
  
  
  
Aerospace & Defense - 2.0%
  
  
  
BAE Systems PLC
 
2,530,825
71,645,969
Rolls-Royce Holdings PLC
 
1,763,501
35,181,242
TOTAL INDUSTRIALS
  
  
106,827,211
Utilities - 0.3%
  
  
  
Electric Utilities - 0.3%
  
  
  
SSE PLC
 
563,400
17,799,741
TOTAL UNITED KINGDOM
  
  
755,986,057
UNITED STATES - 10.5%
 
  
  
Energy - 3.4%
  
  
  
Oil, Gas & Consumable Fuels - 3.4%
  
  
  
BP PLC
 
4,016,699
30,178,123
Shell PLC ADR
 
1,604,002
147,536,104
TOTAL ENERGY
  
  
177,714,227
Health Care - 3.5%
  
  
  
Pharmaceuticals - 3.5%
  
  
  
Roche Holding AG
 
421,239
184,241,586
Industrials - 0.5%
  
  
  
Trading Companies & Distributors - 0.5%
  
  
  
Ferguson Enterprises Inc
 
111,191
26,055,387
Materials - 3.1%
  
  
  
Chemicals - 0.7%
  
  
  
Linde PLC
 
84,537
40,440,810
Construction Materials - 2.4%
  
  
  
Amrize Ltd
 
411,963
20,219,793
CRH PLC
 
771,594
73,309,146
Holcim AG
 
339,860
30,867,508
 
  
  
124,396,447
TOTAL MATERIALS
  
  
164,837,257
TOTAL UNITED STATES
  
  
552,848,457
 
TOTAL COMMON STOCKS
 (Cost $3,971,092,587)
  
  
  
5,126,707,044
 
  
  
  
Money Market Funds - 3.0%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (d)
  
3.69
156,679,882
156,711,219
Fidelity Securities Lending Cash Central Fund (d)(e)
  
3.72
312,850
312,881
 
TOTAL MONEY MARKET FUNDS
 (Cost $157,020,601)
  
  
  
157,024,100
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.5%
 (Cost $4,128,113,188)
 
  
 
5,283,731,144
NET OTHER ASSETS (LIABILITIES) - (0.5)%  
(24,502,610)
NET ASSETS - 100.0%
5,259,228,534
 
  
 
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 $12,898,259 or 0.2% of net assets.
 
(d)
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.
 
(e)
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 $21,875,008.
 
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
93,097,776
1,236,260,330
1,172,647,414
2,706,992
(2,972)
3,499
156,711,219
156,679,882
Fidelity Securities Lending Cash Central Fund
59,945,849
190,891,599
250,527,398
106,953
2,831
-
312,881
312,850
 
153,043,625
1,427,151,929
1,423,174,812
2,813,945
(141)
3,499
157,024,100
  
 
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.
 
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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