Quarterly Holdings Report
for
Fidelity Advisor® Overseas Fund
July 31, 2021
OS-QTLY-0921
1.804851.117
Schedule of Investments July 31, 2021 (Unaudited)
Showing Percentage of Net Assets
| Common Stocks - 98.4% | | | |
| | | Shares | Value (000s) |
| Australia - 0.2% | | | |
| Lynas Rare Earths Ltd. (a) | | 153,803 | $828 |
| Austria - 0.4% | | | |
| Erste Group Bank AG | | 44,700 | 1,734 |
| Bailiwick of Jersey - 1.0% | | | |
| Ferguson PLC | | 24,500 | 3,436 |
| Sanne Group PLC | | 56,626 | 664 |
|
| TOTAL BAILIWICK OF JERSEY | | | 4,100 |
|
| Belgium - 0.8% | | | |
| KBC Groep NV | | 42,975 | 3,461 |
| Bermuda - 1.9% | | | |
| Genpact Ltd. | | 48,048 | 2,393 |
| Hiscox Ltd. (a) | | 120,473 | 1,468 |
| IHS Markit Ltd. | | 35,836 | 4,187 |
|
| TOTAL BERMUDA | | | 8,048 |
|
| Canada - 1.2% | | | |
| Constellation Software, Inc. | | 2,980 | 4,773 |
| Topicus.Com, Inc. | | 5,630 | 424 |
|
| TOTAL CANADA | | | 5,197 |
|
| Cayman Islands - 0.8% | | | |
| NetEase, Inc. ADR | | 9,700 | 991 |
| Parade Technologies Ltd. | | 41,000 | 2,520 |
|
| TOTAL CAYMAN ISLANDS | | | 3,511 |
|
| China - 0.3% | | | |
| Gree Electric Appliances, Inc. of Zhuhai (A Shares) | | 155,000 | 1,139 |
| Denmark - 1.6% | | | |
| DSV Panalpina A/S | | 27,504 | 6,702 |
| Finland - 0.8% | | | |
| Nordea Bank ABP (Stockholm Stock Exchange) | | 293,626 | 3,438 |
| France - 12.4% | | | |
| Air Liquide SA | | 24,400 | 4,243 |
| ALTEN | | 20,375 | 3,239 |
| BNP Paribas SA | | 69,300 | 4,226 |
| Capgemini SA | | 27,919 | 6,036 |
| Dassault Systemes SA | | 81,125 | 4,477 |
| Edenred SA | | 59,354 | 3,449 |
| Legrand SA | | 42,785 | 4,822 |
| LVMH Moet Hennessy Louis Vuitton SE | | 12,260 | 9,816 |
| Pernod Ricard SA | | 18,243 | 4,027 |
| Safran SA | | 26,300 | 3,442 |
| SR Teleperformance SA | | 13,188 | 5,563 |
|
| TOTAL FRANCE | | | 53,340 |
|
| Germany - 6.6% | | | |
| adidas AG | | 10,649 | 3,867 |
| Allianz SE | | 20,323 | 5,063 |
| Auto1 Group SE (b) | | 4,600 | 225 |
| Brenntag AG | | 30,000 | 2,996 |
| Deutsche Borse AG | | 18,803 | 3,139 |
| Hannover Reuck SE | | 19,329 | 3,254 |
| Merck KGaA | | 20,000 | 4,096 |
| SAP SE | | 11,649 | 1,672 |
| Siemens Healthineers AG (b) | | 52,500 | 3,468 |
| SUSE SA (a) | | 23,546 | 751 |
|
| TOTAL GERMANY | | | 28,531 |
|
| Hong Kong - 1.5% | | | |
| AIA Group Ltd. | | 542,100 | 6,487 |
| India - 1.1% | | | |
| HDFC Bank Ltd. | | 133,984 | 2,581 |
| Reliance Industries Ltd. | | 75,700 | 2,072 |
| Reliance Industries Ltd. | | 6,013 | 114 |
|
| TOTAL INDIA | | | 4,767 |
|
| Ireland - 2.3% | | | |
| Flutter Entertainment PLC (a) | | 7,924 | 1,355 |
| Kerry Group PLC Class A | | 15,490 | 2,297 |
| Kingspan Group PLC (Ireland) | | 32,600 | 3,546 |
| Linde PLC | | 8,434 | 2,593 |
|
| TOTAL IRELAND | | | 9,791 |
|
| Italy - 2.4% | | | |
| FinecoBank SpA (a) | | 164,963 | 2,958 |
| GVS SpA (b) | | 23,962 | 367 |
| Moncler SpA | | 42,100 | 2,897 |
| Recordati SpA | | 62,720 | 3,882 |
|
| TOTAL ITALY | | | 10,104 |
|
| Japan - 13.2% | | | |
| Daikin Industries Ltd. | | 16,225 | 3,388 |
| Elecom Co. Ltd. | | 56,036 | 983 |
| FUJIFILM Holdings Corp. | | 47,200 | 3,387 |
| Hoya Corp. | | 41,631 | 5,846 |
| Iriso Electronics Co. Ltd. | | 22,584 | 1,073 |
| Kao Corp. | | 36,809 | 2,216 |
| Keyence Corp. | | 7,517 | 4,162 |
| Nitori Holdings Co. Ltd. | | 11,430 | 2,173 |
| NOF Corp. | | 41,871 | 2,118 |
| Olympus Corp. | | 111,376 | 2,292 |
| Persol Holdings Co. Ltd. | | 99,960 | 2,000 |
| Recruit Holdings Co. Ltd. | | 90,234 | 4,677 |
| Relo Group, Inc. | | 72,046 | 1,581 |
| S Foods, Inc. | | 32,392 | 1,007 |
| SMC Corp. | | 5,786 | 3,418 |
| Sony Group Corp. | | 56,924 | 5,947 |
| Suzuki Motor Corp. | | 42,571 | 1,732 |
| TIS, Inc. | | 64,427 | 1,665 |
| Tokyo Electron Ltd. | | 11,627 | 4,795 |
| Tsuruha Holdings, Inc. | | 19,151 | 2,254 |
|
| TOTAL JAPAN | | | 56,714 |
|
| Kenya - 0.4% | | | |
| Safaricom Ltd. | | 4,487,300 | 1,733 |
| Korea (South) - 0.6% | | | |
| Samsung Electronics Co. Ltd. | | 41,126 | 2,801 |
| Netherlands - 9.1% | | | |
| Akzo Nobel NV | | 25,200 | 3,112 |
| ASM International NV (Netherlands) | | 10,000 | 3,546 |
| ASML Holding NV (Netherlands) | | 16,306 | 12,466 |
| Corbion NV | | 6,200 | 340 |
| Euronext NV (b) | | 25,175 | 2,801 |
| IMCD NV | | 32,150 | 5,568 |
| Koninklijke Philips Electronics NV | | 60,069 | 2,770 |
| Prosus NV | | 32,800 | 2,926 |
| Wolters Kluwer NV | | 48,741 | 5,555 |
|
| TOTAL NETHERLANDS | | | 39,084 |
|
| New Zealand - 0.0% | | | |
| EBOS Group Ltd. | | 2,928 | 63 |
| Norway - 0.7% | | | |
| Schibsted ASA: | | | |
| (A Shares) | | 57,800 | 3,064 |
| (B Shares) | | 99 | 5 |
|
| TOTAL NORWAY | | | 3,069 |
|
| Spain - 3.6% | | | |
| Aena SME SA (a)(b) | | 14,200 | 2,261 |
| Amadeus IT Holding SA Class A (a) | | 57,496 | 3,768 |
| Cellnex Telecom SA (b) | | 64,176 | 4,183 |
| Iberdrola SA | | 434,660 | 5,231 |
|
| TOTAL SPAIN | | | 15,443 |
|
| Sweden - 7.9% | | | |
| Addlife AB | | 151,285 | 5,047 |
| AddTech AB (B Shares) | | 183,287 | 3,811 |
| ASSA ABLOY AB (B Shares) | | 116,463 | 3,736 |
| Atlas Copco AB (A Shares) | | 61,873 | 4,183 |
| Hexagon AB (B Shares) | | 325,437 | 5,387 |
| Indutrade AB | | 206,825 | 6,746 |
| Kry International AB (c) | | 156 | 66 |
| Nordnet AB | | 76,900 | 1,241 |
| Swedish Match Co. AB | | 395,010 | 3,537 |
|
| TOTAL SWEDEN | | | 33,754 |
|
| Switzerland - 10.2% | | | |
| Julius Baer Group Ltd. | | 55,587 | 3,669 |
| Lonza Group AG | | 5,577 | 4,342 |
| Nestle SA (Reg. S) | | 86,085 | 10,901 |
| Roche Holding AG (participation certificate) | | 23,584 | 9,111 |
| Sika AG | | 16,188 | 5,702 |
| Sonova Holding AG Class B | | 11,231 | 4,413 |
| Temenos Group AG | | 12,010 | 1,909 |
| Zurich Insurance Group Ltd. | | 9,632 | 3,883 |
|
| TOTAL SWITZERLAND | | | 43,930 |
|
| Taiwan - 0.8% | | | |
| Taiwan Semiconductor Manufacturing Co. Ltd. | | 166,300 | 3,479 |
| United Kingdom - 10.3% | | | |
| Beazley PLC (a) | | 317,844 | 1,734 |
| Bridgepoint Group Ltd. | | 157,439 | 1,061 |
| Compass Group PLC (a) | | 203,554 | 4,304 |
| Cranswick PLC | | 33,356 | 1,878 |
| Dechra Pharmaceuticals PLC | | 38,684 | 2,672 |
| Diageo PLC | | 126,876 | 6,291 |
| Diploma PLC | | 68,867 | 2,832 |
| Dr. Martens Ltd. (a) | | 35,900 | 216 |
| JTC PLC (b) | | 109,800 | 980 |
| Lloyds Banking Group PLC | | 1 | 0 |
| London Stock Exchange Group PLC | | 26,490 | 2,762 |
| Mondi PLC | | 118,127 | 3,277 |
| RELX PLC (London Stock Exchange) | | 164,984 | 4,848 |
| Rentokil Initial PLC | | 516,633 | 4,070 |
| Smith & Nephew PLC | | 118,379 | 2,416 |
| St. James's Place Capital PLC | | 129,500 | 2,857 |
| Volution Group PLC | | 320,051 | 2,102 |
|
| TOTAL UNITED KINGDOM | | | 44,300 |
|
| United States of America - 6.3% | | | |
| Ares Management Corp. | | 41,823 | 2,995 |
| Boston Scientific Corp. (a) | | 44,322 | 2,021 |
| CBRE Group, Inc. (a) | | 28,000 | 2,701 |
| Equifax, Inc. | | 10,500 | 2,736 |
| Fidelity National Information Services, Inc. | | 11,517 | 1,717 |
| Global Payments, Inc. | | 11,664 | 2,256 |
| Intercontinental Exchange, Inc. | | 23,078 | 2,765 |
| Marsh & McLennan Companies, Inc. | | 25,930 | 3,817 |
| Moody's Corp. | | 7,100 | 2,670 |
| Roper Technologies, Inc. | | 7,144 | 3,510 |
|
| TOTAL UNITED STATES OF AMERICA | | | 27,188 |
|
| TOTAL COMMON STOCKS | | | |
| (Cost $270,797) | | | 422,736 |
|
| Nonconvertible Preferred Stocks - 0.1% | | | |
| Sweden - 0.1% | | | |
| Kry International AB Series E (c) | | | |
| (Cost $412) | | 901 | 402 |
|
| Money Market Funds - 1.4% | | | |
| Fidelity Cash Central Fund 0.06% (d) | | 5,969,749 | 5,971 |
| TOTAL MONEY MARKET FUNDS | | | |
| (Cost $5,971) | | | 5,971 |
| TOTAL INVESTMENT IN SECURITIES - 99.9% | | | |
| (Cost $277,180) | | | 429,109 |
| NET OTHER ASSETS (LIABILITIES) - 0.1% | | | 274 |
| NET ASSETS - 100% | | | $429,383 |
Categorizations in the Schedule of Investments are based on country or territory of incorporation.
Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) Non-income producing
(b) 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 $14,285,000 or 3.3% of net assets.
(c) Level 3 security
(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.
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 |
| | (Amounts in thousands) |
| Fidelity Cash Central Fund | $1 |
| Fidelity Securities Lending Cash Central Fund | 12 |
| Total | $13 |
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.
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
| Fund (Amounts in thousands) | Value, beginning of period | Purchases | Sales Proceeds | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
| Fidelity Cash Central Fund 0.06% | $6,062 | $45,504 | $45,595 | $-- | $-- | $5,971 | 0.0% |
| Fidelity Securities Lending Cash Central Fund 0.06% | -- | 8,888 | 8,888 | -- | -- | -- | 0.0% |
| Total | $6,062 | $54,392 | $54,483 | $-- | $-- | $5,971 | |
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. 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:
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 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 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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