Quarterly Holdings Report
for
Fidelity® Emerging Markets Debt Local Currency Central Fund
March 31, 2021
MDL-QTLY-0521
1.9899758.100
Schedule of Investments March 31, 2021 (Unaudited)
Showing Percentage of Net Assets
Foreign Government and Government Agency Obligations - 86.1% | |||
Principal Amount(a) | Value | ||
Brazil - 7.7% | |||
Brazil Letras Do Tesouro Nacio, yield at date of purchase 5.1772% to 6.2765% 7/1/23 to 1/1/24 | BRL | $21,500,000 | $3,238,457 |
Brazilian Federative Republic: | |||
10% 1/1/23 | BRL | 16,000,000 | 2,993,205 |
10% 1/1/25 | BRL | 20,000,000 | 3,748,946 |
10% 1/1/27 | BRL | 3,000,000 | 559,360 |
10% 1/1/29 | BRL | 5,000,000 | 927,298 |
10% 1/1/31 | BRL | 2,000,000 | 369,742 |
TOTAL BRAZIL | 11,837,008 | ||
Chile - 3.0% | |||
Bonos de La Tesoreria de La Republica de Chile: | |||
4.5% 3/1/26 | CLP | 2,025,000,000 | 3,115,691 |
5% 3/1/35 | CLP | 950,000,000 | 1,431,407 |
TOTAL CHILE | 4,547,098 | ||
China - 12.1% | |||
Peoples Republic of China: | |||
2.36% 7/2/23 | CNY | 32,000,000 | 4,832,345 |
2.68% 5/21/30 | CNY | 19,000,000 | 2,768,070 |
2.88% 11/5/23 | CNY | 41,500,000 | 6,339,971 |
3.28% 12/3/27 | CNY | 30,500,000 | 4,677,199 |
TOTAL CHINA | 18,617,585 | ||
Colombia - 4.4% | |||
Colombian Republic 7.5% 8/26/26 | COP | 8,400,000,000 | 2,478,226 |
Titulos de Tesoreria B: | |||
5.75% 11/3/27 | COP | 8,000,000,000 | 2,123,975 |
7% 6/30/32 | COP | 8,100,000,000 | 2,149,883 |
TOTAL COLOMBIA | 6,752,084 | ||
Czech Republic - 1.6% | |||
Czech Republic: | |||
0.95% 5/15/30 (Reg. S) | CZK | 34,000,000 | 1,404,601 |
1.2% 3/13/31 | CZK | 25,000,000 | 1,045,702 |
TOTAL CZECH REPUBLIC | 2,450,303 | ||
Dominican Republic - 0.9% | |||
Dominican Republic: | |||
8.9% 2/15/23(Reg. S) | DOP | 59,000,000 | 1,068,099 |
9.75% 6/5/26 (Reg. S) | DOP | 20,000,000 | 378,206 |
TOTAL DOMINICAN REPUBLIC | 1,446,305 | ||
Hungary - 3.5% | |||
Hungarian Republic: | |||
3% 10/27/38 | HUF | 70,000,000 | 221,814 |
3.25% 10/22/31 | HUF | 270,000,000 | 924,803 |
5.5% 6/24/25 | HUF | 370,000,000 | 1,385,757 |
6.75% 10/22/28 | HUF | 685,000,000 | 2,904,255 |
TOTAL HUNGARY | 5,436,629 | ||
Indonesia - 7.7% | |||
Indonesian Republic: | |||
8.125% 5/15/24 | IDR | 12,000,000,000 | 886,885 |
8.25% 5/15/29 | IDR | 30,000,000,000 | 2,256,454 |
8.25% 5/15/36 | IDR | 38,750,000,000 | 2,866,566 |
8.375% 9/15/26 | IDR | 40,000,000,000 | 3,045,783 |
8.375% 3/15/34 | IDR | 36,000,000,000 | 2,701,549 |
TOTAL INDONESIA | 11,757,237 | ||
Malaysia - 4.7% | |||
Malaysian Government: | |||
3.48% 3/15/23 | MYR | 1,250,000 | 309,278 |
3.828% 7/5/34 | MYR | 5,250,000 | 1,254,746 |
3.885% 8/15/29 | MYR | 11,000,000 | 2,766,232 |
3.899% 11/16/27 | MYR | 10,000,000 | 2,532,270 |
4.762% 4/7/37 | MYR | 1,600,000 | 410,890 |
TOTAL MALAYSIA | 7,273,416 | ||
Mexico - 7.5% | |||
United Mexican States: | |||
5.75% 3/5/26 | MXN | 65,000,000 | 3,156,266 |
7.75% 11/23/34 | MXN | 25,000,000 | 1,285,425 |
7.75% 11/13/42 | MXN | 54,750,000 | 2,703,749 |
8% 12/7/23 | MXN | 52,500,000 | 2,739,525 |
8.5% 5/31/29 | MXN | 29,000,000 | 1,593,070 |
TOTAL MEXICO | 11,478,035 | ||
Peru - 2.6% | |||
Peruvian Republic: | |||
5.4% 8/12/34(Reg. S) | PEN | 5,000,000 | 1,303,515 |
6.35% 8/12/28 | PEN | 4,250,000 | 1,325,126 |
6.95% 8/12/31 | PEN | 4,250,000 | 1,314,983 |
TOTAL PERU | 3,943,624 | ||
Philippines - 0.2% | |||
Philippine Republic 6.25% 1/14/36 | PHP | 10,000,000 | 254,679 |
Poland - 4.7% | |||
Polish Government: | |||
2.25% 10/25/24 | PLN | 6,750,000 | 1,814,125 |
2.5% 1/25/23 | PLN | 500,000 | 132,149 |
2.5% 7/25/26 | PLN | 10,200,000 | 2,795,495 |
2.75% 10/25/29 | PLN | 9,000,000 | 2,521,294 |
TOTAL POLAND | 7,263,063 | ||
Romania - 4.5% | |||
Romanian Republic: | |||
3.4% 3/8/22 | RON | 11,150,000 | 2,692,149 |
3.65% 9/24/31 | RON | 1,000,000 | 244,237 |
4.75% 2/24/25 | RON | 14,250,000 | 3,658,341 |
5% 2/12/29 | RON | 1,250,000 | 339,709 |
TOTAL ROMANIA | 6,934,436 | ||
Russia - 6.5% | |||
Ministry of Finance of the Russian Federation: | |||
6.5% 2/28/24 | RUB | 257,000,000 | 3,438,926 |
7.05% 1/19/28 | RUB | 310,000,000 | 4,146,481 |
7.6% 7/20/22 | RUB | 47,000,000 | 639,277 |
7.7% 3/16/39 | RUB | 38,000,000 | 533,427 |
8.5% 9/17/31 | RUB | 86,500,000 | 1,271,473 |
TOTAL RUSSIA | 10,029,584 | ||
South Africa - 7.0% | |||
South African Republic: | |||
6.5% 2/28/41 | ZAR | 36,250,000 | 1,527,063 |
8% 1/31/30 | ZAR | 57,750,000 | 3,565,462 |
8.75% 2/28/48 | ZAR | 33,000,000 | 1,748,999 |
8.875% 2/28/35 | ZAR | 34,500,000 | 1,983,246 |
10.5% 12/21/26 | ZAR | 24,500,000 | 1,888,721 |
TOTAL SOUTH AFRICA | 10,713,491 | ||
Thailand - 4.8% | |||
Kingdom of Thailand: | |||
1.6% 6/17/35 | THB | 74,750,000 | 2,178,684 |
3.3% 6/17/38 | THB | 77,500,000 | 2,721,952 |
4.875% 6/22/29 | THB | 64,250,000 | 2,539,963 |
TOTAL THAILAND | 7,440,599 | ||
Turkey - 2.1% | |||
Turkish Republic: | |||
8% 3/12/25 | TRY | 11,500,000 | 994,399 |
9.2% 9/22/21 | TRY | 12,250,000 | 1,422,868 |
11% 2/24/27 | TRY | 7,800,000 | 691,937 |
12.4% 3/8/28 | TRY | 1,500,000 | 138,605 |
TOTAL TURKEY | 3,247,809 | ||
Uruguay - 0.6% | |||
Uruguay Republic 9.875% 6/20/22 | UYU | 40,000,000 | 938,165 |
TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS | |||
(Cost $134,333,231) | 132,361,150 | ||
Supranational Obligations - 1.2% | |||
Asian Infrastructure Investment Bank 2.375% 2/10/25 (Reg. S) | PHP | 19,400,000 | 399,753 |
International Finance Corp. 5.85% 11/25/22 | INR | 105,000,000 | 1,444,336 |
TOTAL SUPRANATIONAL OBLIGATIONS | |||
(Cost $1,854,378) | 1,844,089 | ||
Shares | Value | ||
Money Market Funds - 11.6% | |||
Fidelity Cash Central Fund 0.06% (b) | |||
(Cost $17,754,087) | 17,750,537 | 17,754,087 | |
TOTAL INVESTMENT IN SECURITIES - 98.9% | |||
(Cost $153,941,696) | 151,959,326 | ||
NET OTHER ASSETS (LIABILITIES) - 1.1%(c) | 1,736,565 | ||
NET ASSETS - 100% | $153,695,891 |
Forward Foreign Currency Contracts | ||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation/(Depreciation) | ||
BRL | 1,271,000 | USD | 227,090 | Citibank NA | 6/24/21 | $(2,595) |
BRL | 2,242,000 | USD | 393,748 | Citibank NA | 6/24/21 | 2,254 |
BRL | 2,224,000 | USD | 404,437 | State Street Bank And Tr Co | 6/24/21 | (11,615) |
CLP | 620,754,000 | USD | 845,138 | Citibank NA | 6/24/21 | 16,935 |
CLP | 206,048,000 | USD | 286,855 | Citibank NA | 6/24/21 | (706) |
CLP | 234,054,000 | USD | 322,811 | Goldman Sachs Bank USA | 6/24/21 | 2,232 |
CNY | 7,544,000 | USD | 1,157,375 | BNP Paribas | 6/24/21 | (12,962) |
COP | 2,511,500,000 | USD | 691,321 | Citibank NA | 6/24/21 | (7,060) |
COP | 3,412,700,000 | USD | 928,121 | Citibank NA | 6/24/21 | 1,673 |
CZK | 79,357,000 | USD | 3,658,188 | Bank Of America NA | 6/24/21 | (92,166) |
CZK | 8,219,000 | USD | 372,592 | Goldman Sachs Bank USA | 6/24/21 | (3,260) |
CZK | 4,345,000 | USD | 195,306 | Goldman Sachs Bank USA | 6/24/21 | (57) |
CZK | 17,211,000 | USD | 794,181 | State Street Bank And Tr Co | 6/24/21 | (20,780) |
EGP | 37,223,000 | USD | 2,295,803 | Citibank NA | 6/24/21 | 72,449 |
EGP | 6,433,000 | USD | 398,946 | Citibank NA | 6/24/21 | 10,343 |
EGP | 5,427,000 | USD | 336,872 | Citibank NA | 6/24/21 | 8,412 |
HUF | 180,708,000 | USD | 583,368 | BNP Paribas | 6/24/21 | 1,064 |
HUF | 82,644,000 | USD | 267,642 | BNP Paribas | 6/24/21 | (361) |
HUF | 239,739,000 | USD | 780,020 | Bank Of America NA | 6/24/21 | (4,674) |
IDR | 31,367,500,000 | USD | 2,163,724 | BNP Paribas | 6/24/21 | (17,183) |
IDR | 2,524,500,000 | USD | 173,029 | BNP Paribas | 6/24/21 | (273) |
IDR | 11,256,800,000 | USD | 770,539 | BNP Paribas | 6/24/21 | (213) |
IDR | 5,329,700,000 | USD | 366,428 | BNP Paribas | 6/24/21 | (1,706) |
IDR | 11,919,400,000 | USD | 821,744 | Citibank NA | 6/24/21 | (6,076) |
IDR | 5,730,100,000 | USD | 393,335 | State Street Bank And Tr Co | 6/24/21 | (1,213) |
INR | 128,744,000 | USD | 1,728,314 | BNP Paribas | 6/24/21 | 12,825 |
INR | 21,642,000 | USD | 294,149 | BNP Paribas | 6/24/21 | (1,462) |
MXN | 7,588,000 | USD | 365,004 | BNP Paribas | 6/24/21 | 2,951 |
MXN | 8,346,000 | USD | 402,411 | Citibank NA | 6/24/21 | 2,301 |
MXN | 4,579,000 | USD | 218,482 | Goldman Sachs Bank USA | 6/24/21 | 3,561 |
MXN | 16,746,000 | USD | 797,494 | Goldman Sachs Bank USA | 6/24/21 | 14,548 |
MXN | 8,076,000 | USD | 389,103 | Goldman Sachs Bank USA | 6/24/21 | 2,516 |
MXN | 69,907,000 | USD | 3,388,301 | Royal Bank Of Canada | 6/24/21 | 1,608 |
MYR | 11,400,000 | USD | 2,809,958 | Goldman Sachs Bank USA | 6/24/21 | (68,266) |
MYR | 1,698,000 | USD | 412,637 | Goldman Sachs Bank USA | 6/24/21 | (4,269) |
MYR | 1,522,000 | USD | 366,438 | Goldman Sachs Bank USA | 6/24/21 | (398) |
PHP | 18,226,000 | USD | 374,558 | BNP Paribas | 6/24/21 | 103 |
PHP | 38,589,000 | USD | 790,758 | State Street Bank And Tr Co | 6/24/21 | 2,493 |
PLN | 12,804,000 | USD | 3,398,665 | BNP Paribas | 6/24/21 | (157,345) |
PLN | 3,023,000 | USD | 786,215 | JPMorgan Chase Bank | 6/24/21 | (20,945) |
RON | 3,187,000 | USD | 768,258 | JPMorgan Chase Bank | 6/24/21 | (8,562) |
RUB | 87,700,000 | USD | 1,168,399 | Citibank NA | 6/24/21 | (20,333) |
RUB | 34,652,000 | USD | 463,572 | State Street Bank And Tr Co | 6/24/21 | (9,948) |
RUB | 32,578,000 | USD | 425,522 | State Street Bank And Tr Co | 6/24/21 | 951 |
SGD | 839,000 | USD | 623,995 | Goldman Sachs Bank USA | 6/24/21 | (521) |
SGD | 578,000 | USD | 427,748 | JPMorgan Chase Bank | 6/24/21 | 1,773 |
THB | 88,630,000 | USD | 2,922,189 | JPMorgan Chase Bank | 6/24/21 | (87,768) |
THB | 12,080,000 | USD | 397,869 | JPMorgan Chase Bank | 6/24/21 | (11,545) |
THB | 10,382,000 | USD | 331,852 | JPMorgan Chase Bank | 6/24/21 | 168 |
TRY | 3,481,000 | USD | 438,146 | Bank Of America NA | 6/24/21 | (39,087) |
TRY | 982,000 | USD | 128,359 | Bank Of America NA | 6/24/21 | (15,783) |
TRY | 1,395,000 | USD | 162,661 | Bank Of America NA | 6/24/21 | (2,739) |
TRY | 797,000 | USD | 91,163 | Goldman Sachs Bank USA | 6/24/21 | 204 |
TRY | 921,000 | USD | 116,337 | State Street Bank And Tr Co | 6/24/21 | (10,755) |
USD | 1,471,123 | CLP | 1,060,856,000 | Citibank NA | 6/24/21 | (2,142) |
USD | 486,848 | CNY | 3,213,000 | Citibank NA | 6/24/21 | (559) |
USD | 1,155,991 | CNY | 7,544,000 | Goldman Sachs Bank USA | 6/24/21 | 11,578 |
USD | 353,312 | COP | 1,306,900,000 | Citibank NA | 6/24/21 | (2,755) |
USD | 365,142 | COP | 1,309,400,000 | Citibank NA | 6/24/21 | 8,395 |
USD | 390,065 | COP | 1,433,100,000 | State Street Bank And Tr Co | 6/24/21 | (384) |
USD | 778,925 | CZK | 17,277,000 | BNP Paribas | 6/24/21 | 2,558 |
USD | 371,686 | CZK | 8,293,000 | Citibank NA | 6/24/21 | (972) |
USD | 778,678 | CZK | 17,101,000 | Goldman Sachs Bank USA | 6/24/21 | 10,220 |
USD | 657,853 | HUF | 199,105,000 | Citibank NA | 6/24/21 | 13,923 |
USD | 393,780 | HUF | 120,315,000 | Goldman Sachs Bank USA | 6/24/21 | 4,666 |
USD | 374,215 | HUF | 115,711,000 | Goldman Sachs Bank USA | 6/24/21 | (9) |
USD | 219,980 | HUF | 67,960,000 | State Street Bank And Tr Co | 6/24/21 | 189 |
USD | 343,820 | IDR | 5,026,300,000 | Goldman Sachs Bank USA | 6/24/21 | (140) |
USD | 399,219 | IDR | 5,773,100,000 | State Street Bank And Tr Co | 6/24/21 | 4,154 |
USD | 810,560 | INR | 59,795,000 | BNP Paribas | 6/24/21 | 1,890 |
USD | 404,621 | INR | 29,772,000 | BNP Paribas | 6/24/21 | 1,983 |
USD | 769,035 | INR | 56,774,000 | BNP Paribas | 6/24/21 | 1,221 |
USD | 767,471 | INR | 57,086,000 | BNP Paribas | 6/24/21 | (4,563) |
USD | 802,900 | MXN | 16,751,000 | BNP Paribas | 6/24/21 | (9,384) |
USD | 87,848 | MXN | 1,837,000 | Goldman Sachs Bank USA | 6/24/21 | (1,231) |
USD | 271,363 | MXN | 5,598,000 | Goldman Sachs Bank USA | 6/24/21 | (94) |
USD | 208,991 | MYR | 867,000 | Goldman Sachs Bank USA | 6/24/21 | 478 |
USD | 872,587 | PEN | 3,227,000 | JPMorgan Chase Bank | 6/24/21 | 10,559 |
USD | 815,256 | PHP | 39,994,000 | BNP Paribas | 6/24/21 | (6,877) |
USD | 490,586 | PLN | 1,848,000 | JPMorgan Chase Bank | 6/24/21 | 22,767 |
USD | 511,401 | RON | 2,080,000 | Citibank NA | 6/24/21 | 15,585 |
USD | 232,853 | RUB | 17,762,000 | Citibank NA | 6/24/21 | 333 |
USD | 48,536 | RUB | 3,665,870 | JPMorgan Chase Bank | 6/24/21 | 53 |
USD | 719,322 | RUB | 53,888,000 | State Street Bank And Tr Co | 6/24/21 | 13,883 |
USD | 1,065,968 | SGD | 1,417,000 | BNP Paribas | 6/24/21 | 12,974 |
USD | 276,144 | THB | 8,451,000 | JPMorgan Chase Bank | 6/24/21 | 5,877 |
USD | 212,165 | THB | 6,537,000 | JPMorgan Chase Bank | 6/24/21 | 3,109 |
USD | 223,318 | THB | 6,946,000 | JPMorgan Chase Bank | 6/24/21 | 1,182 |
USD | 487,792 | TRY | 3,739,000 | BNP Paribas | 6/24/21 | 59,156 |
USD | 438,314 | TRY | 3,583,000 | BNP Paribas | 6/24/21 | 27,562 |
USD | 392,314 | ZAR | 6,109,000 | Citibank NA | 6/24/21 | (17,157) |
USD | 297,795 | ZAR | 4,607,000 | Goldman Sachs Bank USA | 6/24/21 | (11,000) |
USD | 377,251 | ZAR | 5,945,000 | Goldman Sachs Bank USA | 6/24/21 | (21,227) |
USD | 378,006 | ZAR | 5,652,000 | Goldman Sachs Bank USA | 6/24/21 | (833) |
USD | 83,012 | ZAR | 1,238,000 | Goldman Sachs Bank USA | 6/24/21 | 32 |
ZAR | 5,800,000 | USD | 390,045 | BNP Paribas | 6/24/21 | (1,286) |
ZAR | 14,253,000 | USD | 938,426 | Citibank NA | 6/24/21 | 16,916 |
ZAR | 9,225,000 | USD | 612,973 | Citibank NA | 6/24/21 | 5,355 |
ZAR | 5,204,000 | USD | 342,452 | JPMorgan Chase Bank | 6/24/21 | 6,359 |
TOTAL FORWARD FOREIGN CURRENCY CONTRACTS | $(298,918) | |||||
Unrealized Appreciation | 424,321 | |||||
Unrealized Depreciation | (723,239) |
Currency Abbreviations
BRL – Brazilian real
CLP – Chilean peso
CNY – Chinese yuan
COP – Colombian peso
CZK – Czech koruna
DOP – Dominican Republic peso
HUF – Hungarian forint
IDR – Indonesian rupiah
INR – Indian rupee
MXN – Swiss franc
MYR – Malyasian ringgit
PEN – Peruvian new sol
PHP – Philippine peso
PLN – Polish zloty
RON – Romanian leu (new)
RUB – Russian ruble
THB – Thai baht
TRY – Turkish Lira
UYU – Uruguay peso
ZAR – South African rand
Categorizations in the Schedule of Investments are based on country or territory of incorporation.
Legend
(a) Amount is stated in United States dollars unless otherwise noted.
(b) 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.
(c) Includes $150,000 of cash collateral segregated for open forward foreign currency contracts.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $2,732 |
Total | $2,732 |
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 Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
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. Foreign government and government agency obligations and supranational 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.
The U.S. dollar value of foreign currency contracts is determined using currency exchange rates supplied by a pricing vendor and are categorized as Level 2 in the hierarchy.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the 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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