Quarterly Holdings Report
for
Fidelity® International Small Cap Opportunities Fund
July 31, 2026
ILS-NPRT3-0926
1.834743.120
Common Stocks - 95.6%
 
  
Shares
Value ($)
 
AUSTRALIA - 3.0%
 
  
  
Financials - 1.8%
  
  
  
Financial Services - 0.3%
  
  
  
Cuscal Ltd
 
1,340,400
4,736,915
Insurance - 1.5%
  
  
  
AUB Group Ltd
 
440,972
8,592,819
Steadfast Group Ltd
 
4,515,373
16,136,818
 
  
  
24,729,637
TOTAL FINANCIALS
  
  
29,466,552
Materials - 0.8%
  
  
  
Metals & Mining - 0.8%
  
  
  
Imdex Ltd
 
5,152,334
13,309,928
Real Estate - 0.4%
  
  
  
Retail REITs - 0.4%
  
  
  
Charter Hall Retail REIT
 
2,065,462
5,837,987
TOTAL AUSTRALIA
  
  
48,614,467
AUSTRIA - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Electronic Equipment, Instruments & Components - 0.1%
  
  
  
AT&S Austria Technologie & Systemtechnik AG (b)
  
13,900
2,096,565
BELGIUM - 3.5%
 
  
  
Financials - 1.5%
  
  
  
Banks - 1.5%
  
  
  
KBC Ancora
 
235,198
24,029,966
Health Care - 0.5%
  
  
  
Health Care Providers & Services - 0.5%
  
  
  
Fagron
 
337,001
9,015,815
Information Technology - 0.5%
  
  
  
Semiconductors & Semiconductor Equipment - 0.5%
  
  
  
Melexis NV (c)
  
102,800
8,096,542
Real Estate - 1.0%
  
  
  
Industrial REITs - 1.0%
  
  
  
Warehouses De Pauw CVA
 
664,084
17,092,399
TOTAL BELGIUM
  
  
58,234,722
BRAZIL - 0.8%
 
  
  
Industrials - 0.8%
  
  
  
Commercial Services & Supplies - 0.8%
  
  
  
Orizon Valorizacao de Residuos SA (b)
  
888,000
12,350,000
CANADA - 4.5%
 
  
  
Consumer Staples - 0.5%
  
  
  
Consumer Staples Distribution & Retail - 0.5%
  
  
  
North West Co Inc/The
 
204,600
7,421,557
Energy - 0.4%
  
  
  
Energy Equipment & Services - 0.4%
  
  
  
TerraVest Industries Inc
 
86,100
7,015,874
Financials - 1.0%
  
  
  
Capital Markets - 1.0%
  
  
  
Onex Corp Subordinate Voting Shares
 
221,700
16,975,625
Industrials - 1.0%
  
  
  
Trading Companies & Distributors - 1.0%
  
  
  
Richelieu Hardware Ltd
 
664,663
16,812,747
Information Technology - 0.6%
  
  
  
Software - 0.6%
  
  
  
Lumine Group Inc Subordinate Voting Shares (a)(b)
  
582,800
10,077,449
Materials - 1.0%
  
  
  
Metals & Mining - 1.0%
  
  
  
OR Royalties Inc
 
537,668
15,978,349
TOTAL CANADA
  
  
74,281,601
CHINA - 0.5%
 
  
  
Consumer Staples - 0.2%
  
  
  
Personal Care Products - 0.2%
  
  
  
Chlitina Holding Ltd
 
833,715
2,473,167
Health Care - 0.2%
  
  
  
Pharmaceuticals - 0.2%
  
  
  
Consun Pharmaceutical Group Ltd
 
2,242,000
3,913,723
Industrials - 0.1%
  
  
  
Machinery - 0.1%
  
  
  
Sany Heavy Equipment International Holdings Co Ltd
 
1,847,595
1,750,437
TOTAL CHINA
  
  
8,137,327
EGYPT - 0.2%
 
  
  
Health Care - 0.2%
  
  
  
Health Care Providers & Services - 0.2%
  
  
  
Integrated Diagnostics Holdings PLC (a)(d)
  
5,276,016
2,901,809
FRANCE - 6.0%
 
  
  
Consumer Discretionary - 0.4%
  
  
  
Automobile Components - 0.4%
  
  
  
Valeo SE
 
367,206
6,300,841
Energy - 0.7%
  
  
  
Oil, Gas & Consumable Fuels - 0.7%
  
  
  
Gaztransport Et Technigaz SA
 
53,803
12,141,801
Health Care - 0.5%
  
  
  
Pharmaceuticals - 0.5%
  
  
  
Vetoquinol SA
 
103,883
8,744,866
Industrials - 2.9%
  
  
  
Aerospace & Defense - 0.9%
  
  
  
LISI SA
 
202,913
14,811,512
Commercial Services & Supplies - 1.4%
  
  
  
Elis SA
 
770,689
22,022,482
Ground Transportation - 0.5%
  
  
  
Stef SA
 
49,657
7,753,271
Trading Companies & Distributors - 0.1%
  
  
  
Thermador Groupe
 
26,400
2,304,547
TOTAL INDUSTRIALS
  
  
46,891,812
Information Technology - 0.4%
  
  
  
Semiconductors & Semiconductor Equipment - 0.4%
  
  
  
SOITEC (b)
  
49,800
5,972,394
Real Estate - 1.1%
  
  
  
Industrial REITs - 0.6%
  
  
  
ARGAN SA
 
117,857
10,301,735
Retail REITs - 0.5%
  
  
  
Carmila SA
 
398,240
7,760,995
TOTAL REAL ESTATE
  
  
18,062,730
TOTAL FRANCE
  
  
98,114,444
GERMANY - 2.4%
 
  
  
Consumer Discretionary - 2.0%
  
  
  
Specialty Retail - 2.0%
  
  
  
Auto1 Group SE (b)(c)
  
1,195,270
31,122,592
Industrials - 0.2%
  
  
  
Machinery - 0.2%
  
  
  
Stabilus SE
 
214,383
3,554,963
Information Technology - 0.2%
  
  
  
Electronic Equipment, Instruments & Components - 0.1%
  
  
  
LPKF Laser & Electronics SE (b)(c)
  
138,837
2,281,423
Software - 0.1%
  
  
  
Mensch und Maschine Software SE (c)
  
38,660
1,658,405
TOTAL INFORMATION TECHNOLOGY
  
  
3,939,828
TOTAL GERMANY
  
  
38,617,383
GREECE - 0.8%
 
  
  
Industrials - 0.8%
  
  
  
Construction & Engineering - 0.3%
  
  
  
GEK TERNA SA
 
115,300
6,012,370
Transportation Infrastructure - 0.5%
  
  
  
Athens International Airport SA
 
614,310
7,480,615
TOTAL GREECE
  
  
13,492,985
INDONESIA - 0.7%
 
  
  
Consumer Discretionary - 0.3%
  
  
  
Automobile Components - 0.3%
  
  
  
Selamat Sempurna Tbk PT
 
53,609,200
5,284,919
Consumer Staples - 0.4%
  
  
  
Consumer Staples Distribution & Retail - 0.4%
  
  
  
Sumber Alfaria Trijaya Tbk PT
 
74,342,100
5,467,136
TOTAL INDONESIA
  
  
10,752,055
IRELAND - 1.7%
 
  
  
Consumer Discretionary - 0.5%
  
  
  
Household Durables - 0.5%
  
  
  
Cairn Homes PLC
 
2,913,591
8,187,362
Industrials - 1.0%
  
  
  
Building Products - 0.7%
  
  
  
Kingspan Group PLC
 
119,267
11,037,002
Machinery - 0.3%
  
  
  
Mincon Group Plc
 
8,084,693
5,966,633
TOTAL INDUSTRIALS
  
  
17,003,635
Real Estate - 0.2%
  
  
  
Residential REITs - 0.2%
  
  
  
Irish Residential Properties Reit PLC
 
2,528,053
3,160,103
TOTAL IRELAND
  
  
28,351,100
ISRAEL - 0.7%
 
  
  
Financials - 0.6%
  
  
  
Capital Markets - 0.6%
  
  
  
Tel Aviv Stock Exchange Ltd
 
248,096
9,578,056
Information Technology - 0.1%
  
  
  
Communications Equipment - 0.1%
  
  
  
Ituran Location and Control Ltd
 
38,888
2,145,062
TOTAL ISRAEL
  
  
11,723,118
ITALY - 2.6%
 
  
  
Financials - 0.4%
  
  
  
Financial Services - 0.4%
  
  
  
BFF Bank SpA (a)(b)(c)(d)
  
825,300
2,778,949
Generalfinance SpA
 
148,888
3,639,832
TOTAL FINANCIALS
  
  
6,418,781
Health Care - 0.5%
  
  
  
Pharmaceuticals - 0.5%
  
  
  
Recordati Industria Chimica e Farmaceutica SpA
 
138,800
8,266,955
Industrials - 1.7%
  
  
  
Machinery - 1.7%
  
  
  
Interpump Group SpA
 
714,666
28,629,828
TOTAL ITALY
  
  
43,315,564
JAPAN - 33.1%
 
  
  
Consumer Discretionary - 6.0%
  
  
  
Automobile Components - 1.5%
  
  
  
Niterra Co Ltd
 
274,300
16,018,747
Toyo Tire Corp
 
327,600
8,689,401
 
  
  
24,708,148
Distributors - 0.2%
  
  
  
Central Automotive Products Ltd
 
373,700
4,800,593
Diversified Consumer Services - 0.5%
  
  
  
Aucnet Inc
 
918,587
7,653,413
Hotels, Restaurants & Leisure - 2.4%
  
  
  
Curves Holdings Co Ltd
 
2,019,178
12,120,476
Gift Holdings Inc
 
282,900
9,127,964
Koshidaka Holdings Co Ltd
 
1,497,575
9,849,162
Metaplanet Inc (b)(c)
  
1,846,940
2,689,582
Monogatari Corp/The
 
175,432
6,026,696
 
  
  
39,813,880
Specialty Retail - 1.4%
  
  
  
USS Co Ltd
 
1,761,930
22,251,199
TOTAL CONSUMER DISCRETIONARY
  
  
99,227,233
Consumer Staples - 1.7%
  
  
  
Consumer Staples Distribution & Retail - 1.5%
  
  
  
Kato Sangyo Co Ltd
 
73,000
2,914,858
Tsuruha Holdings Inc
 
1,133,200
17,299,166
YAKUODO Holdings Co Ltd
 
385,400
4,166,674
 
  
  
24,380,698
Food Products - 0.0%
  
  
  
Iwatsuka Confectionery Co Ltd
 
36,600
711,941
Personal Care Products - 0.2%
  
  
  
Artnature Inc
 
506,400
2,809,634
TOTAL CONSUMER STAPLES
  
  
27,902,273
Energy - 1.3%
  
  
  
Oil, Gas & Consumable Fuels - 1.3%
  
  
  
Itochu Enex Co Ltd
 
281,000
3,811,498
Iwatani Corp
 
521,200
6,634,353
San-Ai Obbli Co Ltd
 
779,800
11,341,499
TOTAL ENERGY
  
  
21,787,350
Financials - 3.9%
  
  
  
Banks - 3.9%
  
  
  
Chiba Bank Ltd/The
 
822,300
13,366,536
Hachijuni Nagano Bank Ltd
 
825,500
12,826,643
Hokuhoku Financial Group Inc
 
805,823
37,284,455
TOTAL FINANCIALS
  
  
63,477,634
Health Care - 0.9%
  
  
  
Health Care Equipment & Supplies - 0.9%
  
  
  
Medikit Co Ltd
 
291,800
5,132,116
Nagaileben Co Ltd
 
691,527
7,737,404
Techno Medica Co Ltd
 
75,691
947,483
 
  
  
13,817,003
Health Care Technology - 0.0%
  
  
  
Software Service Inc
 
11,700
804,825
TOTAL HEALTH CARE
  
  
14,621,828
Industrials - 8.7%
  
  
  
Commercial Services & Supplies - 4.2%
  
  
  
CTS Co Ltd
 
66,443
350,627
Daiei Kankyo Co Ltd
 
1,084,800
25,378,010
Japan Elevator Service Holdings Co Ltd
 
2,422,800
25,677,792
Midac Holdings Co Ltd (c)
  
325,340
4,455,964
Park24 Co Ltd
 
680,570
8,423,568
Pronexus Inc
 
410,597
3,051,948
 
  
  
67,337,909
Construction & Engineering - 1.2%
  
  
  
SHO-BOND Holdings Co Ltd
 
2,411,616
19,960,177
Machinery - 2.4%
  
  
  
Daifuku Co Ltd
 
376,700
13,876,202
IHI Corp
 
538,200
9,410,403
Mitsuboshi Belting Ltd
 
9,416
240,464
Moriya Transportation Engineering & Manufacturing Co Ltd
 
191,000
2,769,183
NS Tool Co Ltd
 
617,100
3,712,800
Tocalo Co Ltd
 
526,836
9,449,365
 
  
  
39,458,417
Trading Companies & Distributors - 0.9%
  
  
  
Mitani Corp
 
291,215
5,288,210
Sojitz Corp
 
293,100
9,792,620
 
  
  
15,080,830
TOTAL INDUSTRIALS
  
  
141,837,333
Information Technology - 6.2%
  
  
  
Electronic Equipment, Instruments & Components - 4.3%
  
  
  
Ai Holdings Corp
 
41,267
760,015
Azbil Corp
 
4,371,589
45,267,890
Maruwa Co Ltd/Aichi
 
22,100
7,483,182
Rigaku Holdings Corp (c)
  
651,200
8,241,826
Shimadzu Corp
 
360,100
9,158,252
 
  
  
70,911,165
Semiconductors & Semiconductor Equipment - 1.5%
  
  
  
Micronics Japan Co Ltd
 
48,000
3,914,044
Shibaura Mechatronics Corp
 
761,000
20,274,907
 
  
  
24,188,951
Software - 0.4%
  
  
  
Broadleaf Co Ltd
 
583,896
1,613,594
Miroku Jyoho Service Co Ltd
 
63,000
720,486
Systena Corp
 
1,461,000
3,848,460
 
  
  
6,182,540
TOTAL INFORMATION TECHNOLOGY
  
  
101,282,656
Materials - 2.6%
  
  
  
Chemicals - 1.8%
  
  
  
Nissan Chemical Corp
 
263,700
12,257,467
SK Kaken Co Ltd
 
233,700
12,850,922
Toyo Gosei Co Ltd
 
53,200
4,217,436
 
  
  
29,325,825
Construction Materials - 0.3%
  
  
  
Maeda Kosen Co Ltd
 
423,700
5,218,718
Containers & Packaging - 0.5%
  
  
  
FP Corp
 
192,900
3,059,879
Fuji Seal International Inc
 
255,900
4,820,998
 
  
  
7,880,877
TOTAL MATERIALS
  
  
42,425,420
Real Estate - 1.3%
  
  
  
Real Estate Management & Development - 1.3%
  
  
  
Arealink Co Ltd
 
143,600
892,532
Goldcrest Co Ltd
 
322,930
6,551,865
Katitas Co Ltd
 
303,500
6,430,518
Tokyo Tatemono Co Ltd
 
379,500
8,007,931
TOTAL REAL ESTATE
  
  
21,882,846
Utilities - 0.5%
  
  
  
Electric Utilities - 0.5%
  
  
  
Shikoku Electric Power Co Inc
 
808,002
8,384,825
TOTAL JAPAN
  
  
542,829,398
KOREA (SOUTH) - 0.5%
 
  
  
Financials - 0.5%
  
  
  
Insurance - 0.5%
  
  
  
Hyundai Marine & Fire Insurance Co Ltd (b)
  
202,040
5,309,899
Seoul Guarantee Insurance Co
 
104,921
3,098,562
 
  
  
  
TOTAL KOREA (SOUTH)
  
  
8,408,461
NETHERLANDS - 3.9%
 
  
  
Financials - 0.0%
  
  
  
Capital Markets - 0.0%
  
  
  
Van Lanschot Kempen NV depository receipt
 
8,700
652,608
Industrials - 3.2%
  
  
  
Construction & Engineering - 0.4%
  
  
  
Koninklijke Heijmans N.V depository receipt
 
69,378
7,476,303
Machinery - 2.8%
  
  
  
Aalberts NV
 
932,128
45,747,038
TOTAL INDUSTRIALS
  
  
53,223,341
Real Estate - 0.7%
  
  
  
Real Estate Management & Development - 0.7%
  
  
  
CTP NV (a)(d)
  
597,900
10,741,917
TOTAL NETHERLANDS
  
  
64,617,866
NORWAY - 1.2%
 
  
  
Energy - 1.0%
  
  
  
Energy Equipment & Services - 1.0%
  
  
  
TGS ASA
 
1,272,200
17,101,375
Health Care - 0.2%
  
  
  
Health Care Equipment & Supplies - 0.2%
  
  
  
Medistim ASA
 
121,475
2,896,687
TOTAL NORWAY
  
  
19,998,062
PHILIPPINES - 0.7%
 
  
  
Industrials - 0.7%
  
  
  
Transportation Infrastructure - 0.7%
  
  
  
International Container Terminal Services Inc
 
755,000
11,855,695
SINGAPORE - 0.7%
 
  
  
Industrials - 0.3%
  
  
  
Construction & Engineering - 0.3%
  
  
  
Boustead Singapore Ltd
 
3,466,800
5,352,661
Real Estate - 0.4%
  
  
  
Health Care REITs - 0.4%
  
  
  
Parkway Life Real Estate Investment Trust
 
1,747,100
5,749,340
TOTAL SINGAPORE
  
  
11,102,001
SPAIN - 1.9%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Automobile Components - 0.2%
  
  
  
CIE Automotive SA
 
147,485
4,498,413
Consumer Staples - 0.5%
  
  
  
Food Products - 0.5%
  
  
  
Viscofan SA (c)
  
120,423
7,970,897
Health Care - 0.3%
  
  
  
Health Care Providers & Services - 0.3%
  
  
  
Clinica Baviera SA (c)
  
74,162
5,096,987
Industrials - 0.5%
  
  
  
Commercial Services & Supplies - 0.5%
  
  
  
Befesa SA (a)(d)
  
192,617
7,762,964
Materials - 0.4%
  
  
  
Containers & Packaging - 0.4%
  
  
  
Vidrala SA (c)
  
62,389
6,302,283
TOTAL SPAIN
  
  
31,631,544
SWEDEN - 6.3%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Broadline Retail - 0.9%
  
  
  
Rusta AB
 
1,614,500
14,962,889
Health Care - 0.2%
  
  
  
Life Sciences Tools & Services - 0.2%
  
  
  
AddLife AB B Shares
 
207,965
3,529,347
Industrials - 2.4%
  
  
  
Machinery - 0.4%
  
  
  
Beijer Alma AB B Shares
 
185,625
5,809,188
Trading Companies & Distributors - 2.0%
  
  
  
AddTech AB B Shares
 
364,375
13,262,941
Bergman & Beving AB B Shares
 
646,862
18,613,365
 
  
  
31,876,306
TOTAL INDUSTRIALS
  
  
37,685,494
Information Technology - 1.2%
  
  
  
Electronic Equipment, Instruments & Components - 1.2%
  
  
  
Lagercrantz Group AB B Shares
 
856,712
20,153,272
Materials - 0.8%
  
  
  
Metals & Mining - 0.8%
  
  
  
Alleima AB
 
1,142,200
13,554,494
Real Estate - 0.8%
  
  
  
Real Estate Management & Development - 0.8%
  
  
  
Intea Fastigheter AB B Shares
 
728,300
5,644,550
John Mattson Fastighetsforetagen AB
 
1,256,552
7,878,028
TOTAL REAL ESTATE
  
  
13,522,578
TOTAL SWEDEN
  
  
103,408,074
SWITZERLAND - 0.8%
 
  
  
Industrials - 0.3%
  
  
  
Electrical Equipment - 0.3%
  
  
  
Huber + Suhner AG
 
23,410
5,484,388
Real Estate - 0.5%
  
  
  
Real Estate Management & Development - 0.5%
  
  
  
Infracore SA
 
110,460
7,241,487
TOTAL SWITZERLAND
  
  
12,725,875
TAIWAN - 1.2%
 
  
  
Communication Services - 0.4%
  
  
  
Interactive Media & Services - 0.4%
  
  
  
Addcn Technology Co Ltd
 
1,535,292
6,864,750
Industrials - 0.8%
  
  
  
Electrical Equipment - 0.8%
  
  
  
Bizlink Holding Inc
 
197,000
12,548,657
TOTAL TAIWAN
  
  
19,413,407
TURKEY - 0.7%
 
  
  
Industrials - 0.7%
  
  
  
Electrical Equipment - 0.7%
  
  
  
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS
 
1,848,000
11,491,969
UNITED KINGDOM - 13.9%
 
  
  
Communication Services - 1.8%
  
  
  
Diversified Telecommunication Services - 1.0%
  
  
  
Zegona Communications plc
 
870,849
17,159,300
Interactive Media & Services - 0.8%
  
  
  
Trustpilot Group PLC (a)(b)(d)
  
3,432,400
12,518,002
TOTAL COMMUNICATION SERVICES
  
  
29,677,302
Consumer Discretionary - 1.6%
  
  
  
Automobile Components - 0.1%
  
  
  
AB Dynamics PLC (c)
  
184,573
1,840,811
Hotels, Restaurants & Leisure - 0.1%
  
  
  
Dp Poland PLC (b)
  
18,541,591
1,749,260
Leisure Products - 1.4%
  
  
  
Games Workshop Group PLC
 
88,779
22,877,443
TOTAL CONSUMER DISCRETIONARY
  
  
26,467,514
Energy - 0.4%
  
  
  
Energy Equipment & Services - 0.4%
  
  
  
Subsea 7 SA
 
227,014
7,626,616
Financials - 1.0%
  
  
  
Banks - 1.0%
  
  
  
Metro Bank Holdings PLC (b)
  
6,774,773
16,161,340
Industrials - 2.2%
  
  
  
Aerospace & Defense - 0.3%
  
  
  
Avon Technologies PLC
 
179,100
4,117,977
Air Freight & Logistics - 0.0%
  
  
  
Ferrari Group PLC
 
29,507
273,229
Machinery - 0.8%
  
  
  
Bodycote PLC
 
165,312
1,609,725
Spirax Group PLC
 
126,852
11,873,504
 
  
  
13,483,229
Marine Transportation - 0.5%
  
  
  
Clarkson PLC
 
125,938
8,028,368
Trading Companies & Distributors - 0.6%
  
  
  
Howden Joinery Group PLC
 
987,500
10,494,171
TOTAL INDUSTRIALS
  
  
36,396,974
Information Technology - 3.3%
  
  
  
Electronic Equipment, Instruments & Components - 2.9%
  
  
  
Oxford Instruments PLC
 
1,291,613
47,557,876
Software - 0.4%
  
  
  
Pinewood Technologies Group PLC (b)(c)
  
1,006,462
5,832,774
TOTAL INFORMATION TECHNOLOGY
  
  
53,390,650
Materials - 3.6%
  
  
  
Construction Materials - 1.1%
  
  
  
SigmaRoc PLC (b)
  
10,511,910
17,454,269
Metals & Mining - 2.5%
  
  
  
Hill & Smith PLC
 
1,075,791
41,322,074
TOTAL MATERIALS
  
  
58,776,343
TOTAL UNITED KINGDOM
  
  
228,496,739
UNITED STATES - 3.2%
 
  
  
Consumer Discretionary - 0.7%
  
  
  
Hotels, Restaurants & Leisure - 0.7%
  
  
  
InterContinental Hotels Group PLC ADR
 
74,286
12,055,132
Consumer Staples - 1.6%
  
  
  
Consumer Staples Distribution & Retail - 1.6%
  
  
  
PriceSmart Inc
 
131,340
25,468,140
Health Care - 0.9%
  
  
  
Biotechnology - 0.2%
  
  
  
Legend Biotech Corp ADR (b)
  
193,164
3,583,192
Health Care Equipment & Supplies - 0.7%
  
  
  
Anteris Technologies Global Corp (b)(c)
  
1,364,200
10,695,328
TOTAL HEALTH CARE
  
  
14,278,520
Industrials - 0.0%
  
  
  
Aerospace & Defense - 0.0%
  
  
  
Cirrus Aircraft Ltd (c)
  
126,500
706,828
TOTAL UNITED STATES
  
  
52,508,620
 
TOTAL COMMON STOCKS
 (Cost $1,288,585,509)
  
  
  
1,569,470,851
 
  
  
  
International Equity Funds - 2.1%
 
  
Shares
Value ($)
 
iShares MSCI EAFE Small-Cap ETF (c)
 (Cost $34,245,920)
  
418,406
35,104,263
 
  
  
  
Money Market Funds - 4.4%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (e)
  
3.69
40,138,856
40,146,884
Fidelity Securities Lending Cash Central Fund (e)(f)
  
3.72
31,784,353
31,787,532
 
TOTAL MONEY MARKET FUNDS
 (Cost $71,933,268)
  
  
  
71,934,416
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 102.1%
 (Cost $1,394,764,697)
 
  
 
1,676,509,530
NET OTHER ASSETS (LIABILITIES) - (2.1)%  
(34,040,860)
NET ASSETS - 100.0%
1,642,468,670
 
  
 
Security Type Abbreviations
ETF
-
EXCHANGE-TRADED FUND
 
Legend
 
(a)
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 $46,781,090 or 2.8% of net assets.
 
(b)
Non-income producing.
 
(c)
Security or a portion of the security is on loan at period end.
 
(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 $36,703,641 or 2.2% 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.
 
(f)
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 $22,612,124.
 
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
24,628,104
590,017,729
574,499,777
999,775
(319)
1,147
40,146,884
40,138,856
Fidelity Securities Lending Cash Central Fund
31,899,291
363,983,525
364,093,560
446,788
(1,725)
1
31,787,532
31,784,353
 
56,527,395
954,001,254
938,593,337
1,446,563
(2,044)
1,148
71,934,416
  
 
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.
 
Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs) are valued at their last 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 but the exchange reports a closing bid level, ETFs and ETNs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs and ETNs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 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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