Quarterly Holdings Report
for
Strategic Advisers® Fidelity® International Fund
Offered exclusively to certain managed account clients of Strategic Advisers LLC or its affiliates - not available for sale to the general public
November 30, 2021
SIL-NPRT3-0122
1.912843.111
Common Stocks - 18.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.9% | |||
Diversified Telecommunication Services - 0.3% | |||
Cellnex Telecom SA (a) | 456,165 | 26,922,203 | |
Deutsche Telekom AG | 1,664,200 | 29,311,036 | |
Elisa Corp. (A Shares) | 262,908 | 15,790,763 | |
72,024,002 | |||
Entertainment - 0.2% | |||
Capcom Co. Ltd. | 276,000 | 6,907,630 | |
Sea Ltd. ADR (b) | 70,650 | 20,352,146 | |
Universal Music Group NV | 659,788 | 18,938,602 | |
46,198,378 | |||
Interactive Media & Services - 0.1% | |||
Z Holdings Corp. | 2,523,700 | 16,702,877 | |
Media - 0.1% | |||
Schibsted ASA (A Shares) | 248,619 | 11,113,506 | |
Vivendi SA (c) | 403,600 | 5,149,381 | |
WPP PLC | 650,971 | 9,035,553 | |
25,298,440 | |||
Wireless Telecommunication Services - 0.2% | |||
SoftBank Group Corp. | 596,900 | 31,368,329 | |
Vodafone Group PLC | 12,469,706 | 18,078,809 | |
49,447,138 | |||
TOTAL COMMUNICATION SERVICES | 209,670,835 | ||
CONSUMER DISCRETIONARY - 2.2% | |||
Auto Components - 0.1% | |||
DENSO Corp. | 464,000 | 33,944,027 | |
Automobiles - 0.8% | |||
Daimler AG (Germany) | 569,989 | 53,653,236 | |
Ferrari NV | 51,462 | 13,522,720 | |
Isuzu Motors Ltd. | 1,505,300 | 20,174,977 | |
Suzuki Motor Corp. | 175,300 | 7,076,447 | |
Toyota Motor Corp. | 5,004,400 | 88,774,309 | |
183,201,689 | |||
Hotels, Restaurants & Leisure - 0.2% | |||
Aristocrat Leisure Ltd. | 397,938 | 12,512,688 | |
Compass Group PLC (b) | 697,447 | 13,605,698 | |
Evolution AB (a) | 69,032 | 7,280,309 | |
InterContinental Hotel Group PLC (b) | 151,016 | 8,973,123 | |
Whitbread PLC (b) | 133,479 | 4,975,897 | |
47,347,715 | |||
Household Durables - 0.3% | |||
Barratt Developments PLC | 747,000 | 6,928,478 | |
Sony Group Corp. | 505,000 | 61,614,436 | |
Vistry Group PLC | 680,958 | 9,776,385 | |
78,319,299 | |||
Internet & Direct Marketing Retail - 0.2% | |||
Deliveroo PLC Class A (a)(b) | 2,294,086 | 9,125,600 | |
Delivery Hero AG (a)(b) | 97,785 | 13,052,691 | |
Prosus NV | 164,440 | 13,225,970 | |
ZOZO, Inc. | 189,200 | 6,050,852 | |
41,455,113 | |||
Multiline Retail - 0.1% | |||
B&M European Value Retail SA | 1,378,812 | 11,372,924 | |
Pan Pacific International Holdings Ltd. | 422,500 | 7,236,343 | |
18,609,267 | |||
Specialty Retail - 0.1% | |||
JD Sports Fashion PLC | 2,338,485 | 6,932,342 | |
Nitori Holdings Co. Ltd. | 54,800 | 8,685,039 | |
WH Smith PLC (b) | 272,848 | 4,811,712 | |
20,429,093 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Hermes International SCA | 11,230 | 21,052,514 | |
LVMH Moet Hennessy Louis Vuitton SE | 84,596 | 65,872,626 | |
Moncler SpA | 173,858 | 12,634,805 | |
99,559,945 | |||
TOTAL CONSUMER DISCRETIONARY | 522,866,148 | ||
CONSUMER STAPLES - 1.5% | |||
Beverages - 0.4% | |||
Anheuser-Busch InBev SA NV | 179,800 | 10,033,245 | |
Asahi Group Holdings | 317,200 | 11,698,457 | |
Diageo PLC | 744,717 | 37,584,560 | |
Heineken NV (Bearer) | 158,600 | 15,817,615 | |
Pernod Ricard SA | 112,988 | 25,948,287 | |
101,082,164 | |||
Food & Staples Retailing - 0.3% | |||
Seven & i Holdings Co. Ltd. | 487,500 | 19,635,254 | |
Tesco PLC | 5,438,337 | 20,059,099 | |
Tsuruha Holdings, Inc. | 162,700 | 18,424,028 | |
Zur Rose Group AG (b) | 35,565 | 13,520,162 | |
71,638,543 | |||
Food Products - 0.4% | |||
Nestle SA (Reg. S) | 744,137 | 95,377,363 | |
Household Products - 0.1% | |||
Reckitt Benckiser Group PLC | 239,356 | 19,388,568 | |
Personal Products - 0.2% | |||
Kao Corp. | 517,400 | 26,393,410 | |
L'Oreal SA | 31,773 | 14,346,695 | |
Shiseido Co. Ltd. | 288,900 | 16,559,687 | |
57,299,792 | |||
Tobacco - 0.1% | |||
Imperial Brands PLC | 215,800 | 4,410,246 | |
Swedish Match Co. AB | 2,099,053 | 15,333,995 | |
19,744,241 | |||
TOTAL CONSUMER STAPLES | 364,530,671 | ||
ENERGY - 0.9% | |||
Oil, Gas & Consumable Fuels - 0.9% | |||
BP PLC | 4,001,200 | 17,360,129 | |
Equinor ASA | 291,009 | 7,281,324 | |
Idemitsu Kosan Co. Ltd. | 914,800 | 23,532,014 | |
Neste Oyj | 233,892 | 11,079,781 | |
Reliance Industries Ltd. sponsored GDR (a) | 112,000 | 7,156,800 | |
Royal Dutch Shell PLC: | |||
Class A (United Kingdom) | 1,659,461 | 34,714,886 | |
Class B sponsored ADR | 477,600 | 20,087,856 | |
rights (b)(d) | 1,834,114 | 435,579 | |
Thungela Resources Ltd. (c) | 47,900 | 214,111 | |
Total SA | 1,859,856 | 85,577,111 | |
Whitehaven Coal Ltd. (b) | 3,500,167 | 6,038,128 | |
213,477,719 | |||
FINANCIALS - 4.0% | |||
Banks - 2.0% | |||
Banco Santander SA (Spain) | 4,772,600 | 14,839,217 | |
Bankinter SA | 1,589,888 | 7,832,632 | |
BNP Paribas SA | 869,848 | 54,060,715 | |
Commonwealth Bank of Australia | 264,488 | 17,568,182 | |
Erste Group Bank AG | 533,947 | 23,356,036 | |
FinecoBank SpA | 850,174 | 14,935,184 | |
Hang Seng Bank Ltd. | 886,600 | 15,690,023 | |
ING Groep NV (Certificaten Van Aandelen) | 1,585,111 | 21,895,858 | |
KBC Groep NV | 417,218 | 35,023,816 | |
Lloyds Banking Group PLC | 48,994,344 | 30,422,760 | |
Mediobanca SpA | 898,200 | 9,952,197 | |
Mitsubishi UFJ Financial Group, Inc. | 7,514,200 | 39,685,382 | |
National Australia Bank Ltd. | 2,599,649 | 50,233,203 | |
NatWest Group PLC | 3,538,946 | 9,971,736 | |
PT Bank Rakyat Indonesia Tbk | 12,596,800 | 3,589,295 | |
Societe Generale Series A | 709,751 | 22,085,537 | |
Standard Chartered PLC (United Kingdom) | 4,242,738 | 23,484,623 | |
Sumitomo Mitsui Financial Group, Inc. | 357,500 | 11,631,233 | |
Swedbank AB (A Shares) | 1,032,221 | 20,876,843 | |
Unicaja Banco SA (a) | 1,831,000 | 1,615,546 | |
United Overseas Bank Ltd. | 1,991,603 | 37,174,254 | |
465,924,272 | |||
Capital Markets - 0.4% | |||
EQT AB | 255,996 | 15,162,982 | |
Hong Kong Exchanges and Clearing Ltd. | 256,000 | 14,116,440 | |
Macquarie Group Ltd. | 204,448 | 28,673,036 | |
Nordnet AB | 509,465 | 9,499,314 | |
UBS Group AG | 783,015 | 13,595,402 | |
UBS Group AG | 901,200 | 15,572,736 | |
96,619,910 | |||
Diversified Financial Services - 0.3% | |||
Investor AB (B Shares) | 1,397,054 | 32,534,134 | |
ORIX Corp. | 2,314,500 | 45,968,527 | |
78,502,661 | |||
Insurance - 1.3% | |||
AIA Group Ltd. | 4,812,200 | 50,660,198 | |
Assicurazioni Generali SpA | 384,500 | 7,731,370 | |
AXA SA | 1,312,191 | 36,069,572 | |
Beazley PLC (b) | 510,300 | 2,717,409 | |
Hannover Reuck SE | 59,600 | 10,453,158 | |
Hiscox Ltd. | 724,564 | 7,982,743 | |
Legal & General Group PLC | 5,720,475 | 21,446,799 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 26,300 | 7,109,225 | |
NN Group NV | 531,255 | 26,473,687 | |
Prudential PLC (b) | 963,768 | 16,279,262 | |
Sampo Oyj (A Shares) | 228,200 | 11,229,402 | |
Swiss Life Holding AG | 10,260 | 5,920,972 | |
Talanx AG | 373,186 | 16,709,130 | |
Tokio Marine Holdings, Inc. | 822,600 | 41,310,393 | |
Zurich Insurance Group Ltd. | 111,274 | 45,949,538 | |
308,042,858 | |||
TOTAL FINANCIALS | 949,089,701 | ||
HEALTH CARE - 2.2% | |||
Biotechnology - 0.1% | |||
Argenx SE (b) | 61,672 | 17,277,797 | |
Health Care Equipment & Supplies - 0.4% | |||
Hoya Corp. | 335,200 | 53,437,466 | |
Olympus Corp. | 956,500 | 21,371,361 | |
Siemens Healthineers AG (a) | 371,167 | 27,074,893 | |
101,883,720 | |||
Life Sciences Tools & Services - 0.3% | |||
Eurofins Scientific SA | 137,450 | 17,605,318 | |
Lonza Group AG | 28,267 | 22,877,165 | |
PolyPeptide Group AG (a) | 83,075 | 11,383,732 | |
Sartorius Stedim Biotech | 33,549 | 19,838,186 | |
71,704,401 | |||
Pharmaceuticals - 1.4% | |||
Astellas Pharma, Inc. | 368,300 | 5,775,076 | |
AstraZeneca PLC (United Kingdom) | 700,599 | 76,810,065 | |
Bayer AG | 143,900 | 7,265,530 | |
Daiichi Sankyo Kabushiki Kaisha | 735,200 | 18,274,219 | |
Novartis AG | 124,560 | 9,928,148 | |
Roche Holding AG (participation certificate) | 280,789 | 109,622,931 | |
Sanofi SA | 733,439 | 69,722,402 | |
UCB SA | 338,710 | 36,930,355 | |
334,328,726 | |||
TOTAL HEALTH CARE | 525,194,644 | ||
INDUSTRIALS - 2.9% | |||
Aerospace & Defense - 0.3% | |||
Airbus Group NV (b) | 311,198 | 34,735,925 | |
BAE Systems PLC | 3,298,353 | 24,021,398 | |
58,757,323 | |||
Air Freight & Logistics - 0.3% | |||
Deutsche Post AG | 870,840 | 51,524,117 | |
Yamato Holdings Co. Ltd. | 368,300 | 8,129,904 | |
59,654,021 | |||
Airlines - 0.0% | |||
Ryanair Holdings PLC sponsored ADR (b) | 62,800 | 6,000,540 | |
Building Products - 0.2% | |||
ASSA ABLOY AB (B Shares) | 408,623 | 11,449,466 | |
Compagnie de St. Gobain | 271,349 | 17,211,585 | |
Kingspan Group PLC (Ireland) | 129,531 | 15,013,293 | |
Nibe Industrier AB (B Shares) | 741,606 | 10,611,411 | |
54,285,755 | |||
Commercial Services & Supplies - 0.0% | |||
Rentokil Initial PLC | 1,202,206 | 9,810,690 | |
Construction & Engineering - 0.2% | |||
Ferrovial SA | 577,827 | 16,094,502 | |
Ferrovial SA | 6,641 | 184,975 | |
VINCI SA | 349,077 | 33,120,009 | |
49,399,486 | |||
Industrial Conglomerates - 0.5% | |||
Hitachi Ltd. | 1,087,400 | 63,697,903 | |
Rheinmetall AG | 13,300 | 1,185,867 | |
Siemens AG | 386,374 | 61,594,066 | |
126,477,836 | |||
Machinery - 0.5% | |||
AutoStore Holdings Ltd. | 2,103,436 | 10,511,889 | |
FANUC Corp. | 13,100 | 2,568,155 | |
Indutrade AB | 409,561 | 11,493,421 | |
Minebea Mitsumi, Inc. | 828,700 | 21,807,646 | |
Misumi Group, Inc. | 424,900 | 17,986,876 | |
Sandvik AB | 482,990 | 11,924,651 | |
SMC Corp. | 19,400 | 12,468,793 | |
Techtronic Industries Co. Ltd. | 648,500 | 13,380,822 | |
Volvo AB (B Shares) | 789,537 | 16,998,406 | |
119,140,659 | |||
Marine - 0.0% | |||
A.P. Moller - Maersk A/S Series B | 1,200 | 3,612,928 | |
Professional Services - 0.4% | |||
Experian PLC | 475,437 | 21,371,991 | |
Persol Holdings Co. Ltd. | 588,500 | 17,076,835 | |
Recruit Holdings Co. Ltd. | 515,100 | 31,276,716 | |
RELX PLC (London Stock Exchange) | 365,207 | 11,328,956 | |
Teleperformance | 54,621 | 22,467,697 | |
103,522,195 | |||
Trading Companies & Distributors - 0.4% | |||
AerCap Holdings NV (b) | 50,000 | 2,802,000 | |
Ashtead Group PLC | 105,073 | 8,445,997 | |
Azelis Group NV | 281,275 | 8,017,914 | |
Brenntag SE | 177,045 | 15,199,556 | |
Ferguson PLC | 159,046 | 24,251,138 | |
Itochu Corp. | 973,600 | 27,843,128 | |
86,559,733 | |||
Transportation Infrastructure - 0.1% | |||
Aena SME SA (a)(b) | 126,691 | 18,606,594 | |
TOTAL INDUSTRIALS | 695,827,760 | ||
INFORMATION TECHNOLOGY - 1.6% | |||
Communications Equipment - 0.0% | |||
Ericsson (B Shares) | 685,050 | 6,886,441 | |
Electronic Equipment & Components - 0.1% | |||
Ibiden Co. Ltd. | 71,800 | 4,490,875 | |
Keyence Corp. | 31,300 | 19,330,304 | |
TDK Corp. | 242,900 | 9,608,987 | |
33,430,166 | |||
IT Services - 0.6% | |||
Adyen BV (a)(b) | 7,388 | 20,463,543 | |
ALTEN | 14,100 | 2,334,658 | |
Amadeus IT Holding SA Class A (b) | 120,410 | 7,709,323 | |
Capgemini SA | 111,177 | 25,734,119 | |
Edenred SA | 112,304 | 5,033,424 | |
Fujitsu Ltd. | 158,500 | 26,197,495 | |
OBIC Co. Ltd. | 21,300 | 3,955,297 | |
TIS, Inc. | 786,300 | 24,416,446 | |
Wix.com Ltd. (b) | 105,000 | 16,044,000 | |
Worldline SA (a)(b) | 297,770 | 15,664,259 | |
147,552,564 | |||
Semiconductors & Semiconductor Equipment - 0.6% | |||
ASML Holding NV (Netherlands) | 75,504 | 59,261,591 | |
Infineon Technologies AG | 281,277 | 12,717,504 | |
Lasertec Corp. | 16,200 | 4,263,007 | |
Renesas Electronics Corp. (b) | 1,602,700 | 20,138,455 | |
Sumco Corp. | 191,700 | 4,155,418 | |
Tokyo Electron Ltd. | 55,200 | 29,005,930 | |
129,541,905 | |||
Software - 0.2% | |||
CyberArk Software Ltd. (b) | 81,600 | 14,104,560 | |
Money Forward, Inc. (b) | 85,300 | 5,901,234 | |
NICE Systems Ltd. (b) | 52,725 | 15,038,238 | |
35,044,032 | |||
Technology Hardware, Storage & Peripherals - 0.1% | |||
FUJIFILM Holdings Corp. | 339,500 | 26,705,456 | |
Samsung Electronics Co. Ltd. | 83,900 | 5,055,926 | |
31,761,382 | |||
TOTAL INFORMATION TECHNOLOGY | 384,216,490 | ||
MATERIALS - 1.7% | |||
Chemicals - 0.5% | |||
Air Liquide SA | 84,600 | 13,990,679 | |
Akzo Nobel NV | 108,723 | 11,457,292 | |
Linde PLC | 40,500 | 12,941,073 | |
NOF Corp. | 86,000 | 4,260,627 | |
Nutrien Ltd. | 55,300 | 3,665,743 | |
Shin-Etsu Chemical Co. Ltd. | 296,800 | 49,436,978 | |
Sika AG | 70,783 | 27,810,498 | |
123,562,890 | |||
Construction Materials - 0.2% | |||
CRH PLC | 876,829 | 42,626,726 | |
HeidelbergCement AG | 77,600 | 5,162,841 | |
47,789,567 | |||
Metals & Mining - 0.9% | |||
Anglo American PLC (United Kingdom) | 1,084,421 | 39,917,369 | |
ArcelorMittal SA (Netherlands) | 760,322 | 20,634,389 | |
BHP Group PLC | 1,020,300 | 27,880,779 | |
Evolution Mining Ltd. | 668,494 | 1,920,440 | |
Fortescue Metals Group Ltd. | 1,572,650 | 18,885,585 | |
Glencore Xstrata PLC | 4,539,411 | 21,552,199 | |
Iluka Resources Ltd. | 3,754,321 | 23,069,428 | |
Lynas Rare Earths Ltd. (b) | 5,329,133 | 33,383,812 | |
Newcrest Mining Ltd. | 1,128,590 | 19,002,653 | |
206,246,654 | |||
Paper & Forest Products - 0.1% | |||
Mondi PLC | 241,093 | 5,513,433 | |
UPM-Kymmene Corp. | 361,806 | 13,150,890 | |
18,664,323 | |||
TOTAL MATERIALS | 396,263,434 | ||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.1% | |||
Big Yellow Group PLC | 534,678 | 11,605,070 | |
National Storage REIT unit | 6,935,930 | 12,509,023 | |
24,114,093 | |||
Real Estate Management & Development - 0.3% | |||
Grainger Trust PLC | 2,030,516 | 8,052,846 | |
Kerry Properties Ltd. | 6,562,000 | 17,040,331 | |
LEG Immobilien AG | 84,995 | 11,904,514 | |
Mitsubishi Estate Co. Ltd. | 205,500 | 2,824,372 | |
Mitsui Fudosan Co. Ltd. | 150,300 | 3,089,449 | |
Vonovia SE | 525,930 | 29,226,403 | |
Vonovia SE rights 12/7/21 (b)(c) | 519,130 | 1,830,998 | |
73,968,913 | |||
TOTAL REAL ESTATE | 98,083,006 | ||
UTILITIES - 0.4% | |||
Electric Utilities - 0.3% | |||
Enel SpA | 3,078,428 | 23,326,361 | |
Fortum Corp. | 564,815 | 16,276,546 | |
Iberdrola SA | 1,779,064 | 19,964,735 | |
ORSTED A/S (a) | 112,009 | 14,429,413 | |
73,997,055 | |||
Multi-Utilities - 0.1% | |||
RWE AG | 797,373 | 30,881,870 | |
TOTAL UTILITIES | 104,878,925 | ||
TOTAL COMMON STOCKS (Cost $4,172,355,383) | 4,464,099,333 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
Shares | Value ($) | ||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.1% | |||
Porsche Automobil Holding SE (Germany) (Cost $14,136,305) | 140,900 | 11,820,877 | |
Equity Funds - 73.6% | |||
Shares | Value ($) | ||
Foreign Large Blend Funds - 10.9% | |||
Fidelity Pacific Basin Fund (e) | 4,884,671 | 217,905,166 | |
Fidelity SAI International Index Fund (e) | 78,194,542 | 1,086,122,194 | |
Fidelity SAI International Low Volatility Index Fund (e) | 114,694,737 | 1,310,960,847 | |
TOTAL FOREIGN LARGE BLEND FUNDS | 2,614,988,207 | ||
Foreign Large Growth Funds - 40.7% | |||
Fidelity Advisor International Discovery Fund Class Z (e) | 43,697,004 | 2,504,712,269 | |
Fidelity Diversified International Fund (e) | 42,701,009 | 2,232,408,773 | |
Fidelity International Capital Appreciation Fund (e) | 62,559,979 | 1,890,562,571 | |
Fidelity Overseas Fund (e) | 38,936,171 | 2,642,987,257 | |
Fidelity SAI International Momentum Index Fund (e) | 23,334,898 | 332,522,291 | |
Fidelity SAI International Quality Index Fund (e) | 8,217,582 | 116,360,962 | |
TOTAL FOREIGN LARGE GROWTH FUNDS | 9,719,554,123 | ||
Foreign Large Value Funds - 15.2% | |||
Fidelity SAI International Value Index Fund (e) | 379,204,973 | 3,621,407,487 | |
Foreign Small Mid Blend Funds - 1.9% | |||
Fidelity SAI International Small Cap Index Fund (e) | 47,904,853 | 459,886,587 | |
Foreign Small Mid Growth Funds - 0.5% | |||
Fidelity Advisor International Small Cap Opportunities Fund - Class Z (e) | 4,149,171 | 115,595,904 | |
Sector Funds - 0.5% | |||
Fidelity Advisor International Real Estate Fund Class Z (e) | 8,343,707 | 114,976,286 | |
Other - 3.9% | |||
Fidelity Advisor Japan Fund Class Z (e) | 23,115,099 | 478,251,408 | |
Fidelity Japan Smaller Companies Fund (e) | 2,649,961 | 45,552,826 | |
Fidelity SAI Japan Stock Index Fund (e) | 42,507,703 | 420,826,256 | |
TOTAL OTHER | 944,630,490 | ||
TOTAL EQUITY FUNDS (Cost $14,263,668,190) | 17,591,039,084 | ||
Other - 0.0% | |||
Shares | Value ($) | ||
Commodity Funds - Broad Basket - 0.0% | |||
Fidelity SAI Inflation-Focused Fund (e) (Cost $9,232,556) | 1,094,386 | 11,370,671 | |
U.S. Treasury Obligations - 0.4% | |||
Principal Amount (f) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 0.03% to 0.06% 12/2/21 to 3/3/22 (Cost $90,765,256) | 90,770,000 | 90,765,204 | |
Money Market Funds - 7.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 0.06% (g) | 52,479,902 | 52,490,398 | |
Fidelity Securities Lending Cash Central Fund 0.07% (g)(h) | 3,760,506 | 3,760,882 | |
State Street Institutional U.S. Government Money Market Fund Premier Class 0.03% (i) | 1,670,675,345 | 1,670,675,345 | |
TOTAL MONEY MARKET FUNDS (Cost $1,726,926,625) | 1,726,926,625 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $20,277,084,315) | 23,896,021,794 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 1,609,486 |
NET ASSETS - 100.0% | 23,897,631,280 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Nikkei 225 Index Contracts (United States) | 250 | Dec 2021 | 34,593,750 | (976,015) | (976,015) |
ICE E-mini MSCI EAFE Index Contracts (United States) | 14,627 | Dec 2021 | 1,634,932,925 | (92,466,766) | (92,466,766) |
TOTAL FUTURES CONTRACTS | (93,442,781) | ||||
The notional amount of futures purchased as a percentage of Net Assets is 6.9% |
Legend
(a) | 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 $172,775,583 or 0.7% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Affiliated Fund |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(h) | Investment made with cash collateral received from securities on loan. |
(i) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | 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 0.06% | - | 616,034,512 | 563,544,114 | 4,151 | - | - | 52,490,398 | 0.1% |
Fidelity Securities Lending Cash Central Fund 0.07% | 896,800 | 423,583,474 | 420,719,392 | 235,135 | - | - | 3,760,882 | 0.0% |
Total | 896,800 | 1,039,617,986 | 984,263,506 | 239,286 | - | - | 56,251,280 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Amount 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.
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 ($) |
Fidelity Advisor International Discovery Fund Class Z | - | - | - | - | - | 602,792,086 | 2,504,712,269 |
Fidelity Advisor International Real Estate Fund Class I | 106,764,209 | - | - | - | - | (21,998,694) | - |
Fidelity Advisor International Real Estate Fund Class Z | - | 5,715,332 | - | 5,715,332 | - | 24,495,439 | 114,976,286 |
Fidelity Advisor International Small Cap Opportunities Fund Class Z | - | - | - | - | - | 56,012,784 | 115,595,904 |
Fidelity Advisor International Value Fund Class Z | - | - | 238,544,345 | - | 30,793,630 | - | - |
Fidelity Advisor Japan Fund Class I | 435,775,664 | 25,000,000 | - | - | - | (125,833,488) | - |
Fidelity Advisor Japan Fund Class Z | - | 138,652 | - | 138,652 | - | 143,170,580 | 478,251,408 |
Fidelity Advisor Overseas Fund Class I | 91,215,843 | - | 98,196,961 | - | 50,899,070 | (43,917,952) | - |
Fidelity Diversified International Fund | 1,828,735,209 | 208,000,000 | - | - | - | 195,673,564 | 2,232,408,773 |
Fidelity International Capital Appreciation Fund | 1,570,087,796 | 176,000,000 | - | - | - | 144,474,775 | 1,890,562,571 |
Fidelity International Discovery Fund | 2,016,080,656 | 366,000,000 | - | - | - | (480,160,473) | - |
Fidelity International Small Cap Opportunities Fund | 98,652,775 | - | - | - | - | (39,069,655) | - |
Fidelity International Value Fund | 222,303,028 | - | - | - | - | (14,552,313) | - |
Fidelity Japan Smaller Companies Fund | 45,605,825 | - | - | - | - | (52,999) | 45,552,826 |
Fidelity Overseas Fund | 1,834,480,517 | 519,196,961 | - | - | - | 289,309,779 | 2,642,987,257 |
Fidelity Pacific Basin Fund | 220,347,501 | - | - | - | - | (2,442,335) | 217,905,166 |
Fidelity SAI Inflation-Focused Fund | 9,687,545 | 2,463,969 | - | 2,463,969 | - | (780,843) | 11,370,671 |
Fidelity SAI International Index Fund | 256,720,329 | 846,000,000 | - | - | - | (16,598,135) | 1,086,122,194 |
Fidelity SAI International Low Volatility Index Fund | 1,065,869,771 | 168,000,000 | - | - | - | 77,091,076 | 1,310,960,847 |
Fidelity SAI International Momentum Index Fund | - | 334,000,000 | - | - | - | (1,477,709) | 332,522,291 |
Fidelity SAI International Quality Index Fund | - | 118,000,000 | - | - | - | (1,639,038) | 116,360,962 |
Fidelity SAI International Small Cap Index Fund | - | 486,975,847 | - | - | - | (27,089,260) | 459,886,587 |
Fidelity SAI International Value Index Fund | 3,180,979,210 | 901,000,002 | 500,000,000 | - | (10,960,979) | 50,389,254 | 3,621,407,487 |
Fidelity SAI Japan Stock Index Fund | - | 444,490,738 | - | - | - | (23,664,482) | 420,826,256 |
12,983,305,878 | 4,600,981,501 | 836,741,306 | 8,317,953 | 70,731,721 | 784,131,961 | 17,602,409,755 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - 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 vendor 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.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 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.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
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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