Quarterly Holdings Report
for
Fidelity® Series Emerging Markets Opportunities Fund
July 31, 2023
ILF-NPRT3-0923
1.873106.114
Common Stocks - 96.8% | |||
Shares | Value ($) | ||
Brazil - 6.7% | |||
Arezzo Industria e Comercio SA | 2,783,251 | 48,499,050 | |
Cury Construtora e Incorporado SA | 2,042,300 | 7,674,686 | |
Cyrela Brazil Realty SA | 1,904,800 | 9,594,996 | |
Dexco SA | 29,311,511 | 51,882,072 | |
ENGIE Brasil Energia SA | 4,848,600 | 45,156,192 | |
Equatorial Energia SA | 9,949,559 | 70,570,068 | |
Hapvida Participacoes e Investimentos SA (a)(b) | 15,735,200 | 15,972,289 | |
Localiza Rent a Car SA | 8,646,150 | 122,906,519 | |
LOG Commercial Properties e Participacoes SA | 3,457,551 | 15,647,178 | |
Lojas Renner SA | 11,377,464 | 45,112,863 | |
MercadoLibre, Inc. (a) | 42,550 | 52,679,028 | |
Multiplan Empreendimentos Imobiliarios SA | 1,937,700 | 10,822,026 | |
PagSeguro Digital Ltd. (a)(c) | 12,700,749 | 144,280,509 | |
Raia Drogasil SA | 24,662,792 | 151,093,013 | |
Rede D'Oregon Sao Luiz SA (b) | 6,485,000 | 49,370,341 | |
Rumo SA | 23,588,500 | 115,928,467 | |
StoneCo Ltd. Class A (a) | 6,464,190 | 93,666,113 | |
Transmissora Alianca de Energia Eletrica SA | 4,757,400 | 36,218,113 | |
Vale SA sponsored ADR | 13,040,370 | 190,780,613 | |
XP, Inc. Class A (a)(c) | 9,561,683 | 258,261,058 | |
YDUQS Participacoes SA | 7,514,770 | 35,263,600 | |
TOTAL BRAZIL | 1,571,378,794 | ||
Canada - 0.7% | |||
Barrick Gold Corp. | 10,021,900 | 173,278,651 | |
Chile - 1.1% | |||
Antofagasta PLC | 6,350,744 | 136,720,063 | |
Banco de Chile | 1,085,577,000 | 120,857,615 | |
TOTAL CHILE | 257,577,678 | ||
China - 28.1% | |||
Advanced Micro-Fabrication Equipment, Inc., China (A Shares) (a) | 1,446,400 | 28,920,710 | |
Akeso, Inc. (a)(b) | 4,929,545 | 25,946,970 | |
Alibaba Group Holding Ltd. (a) | 56,116,120 | 717,129,557 | |
Alibaba Group Holding Ltd. sponsored ADR (a) | 586,815 | 59,949,020 | |
Angelalign Technology, Inc. (b)(c) | 868,200 | 8,744,452 | |
Ant International Co. Ltd. Class C (a)(d)(e) | 9,361,123 | 17,598,911 | |
Baidu, Inc.: | |||
Class A (a) | 2,263,071 | 44,244,819 | |
sponsored ADR (a) | 447,705 | 69,837,503 | |
BeiGene Ltd. ADR (a) | 203,300 | 43,550,926 | |
Beijing Enlight Media Co. Ltd. (A Shares) | 17,032,476 | 19,982,661 | |
Bilibili, Inc. ADR (a)(c) | 1,272,626 | 24,268,978 | |
BYD Co. Ltd. (H Shares) | 4,789,094 | 170,578,061 | |
C&S Paper Co. Ltd. (A Shares) | 22,252,600 | 34,518,509 | |
China Communications Services Corp. Ltd. (H Shares) | 78,540,000 | 37,261,409 | |
China Construction Bank Corp. (H Shares) | 537,050,000 | 313,024,225 | |
China Gas Holdings Ltd. | 37,593,400 | 41,888,811 | |
China Jushi Co. Ltd. (A Shares) | 28,453,759 | 59,116,003 | |
China Life Insurance Co. Ltd. (H Shares) | 116,568,690 | 203,276,640 | |
China Merchants Holdings International Co. Ltd. | 8,836,494 | 12,123,567 | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) | 4,509,628 | 8,996,780 | |
China Overseas Land and Investment Ltd. | 17,171,900 | 40,425,712 | |
China Petroleum & Chemical Corp. (H Shares) | 211,752,000 | 118,109,118 | |
China Resources Beer Holdings Co. Ltd. | 14,278,666 | 91,451,277 | |
China Resources Land Ltd. | 13,515,720 | 62,562,348 | |
China Tower Corp. Ltd. (H Shares) (b) | 134,890,789 | 15,220,594 | |
Daqin Railway Co. Ltd. (A Shares) | 84,304,600 | 84,507,607 | |
Daqo New Energy Corp. ADR (a) | 193,772 | 7,570,672 | |
ENN Energy Holdings Ltd. | 5,440,300 | 65,397,444 | |
ESR Group Ltd. (b) | 5,393,000 | 9,404,506 | |
Greentown China Holdings Ltd. | 12,935,500 | 14,761,819 | |
Guangdong Investment Ltd. | 48,038,000 | 41,515,614 | |
Haier Smart Home Co. Ltd. | 24,593,016 | 80,873,909 | |
Haier Smart Home Co. Ltd. (A Shares) | 1,171,203 | 4,050,052 | |
Haitian International Holdings Ltd. | 17,821,306 | 44,376,741 | |
Hansoh Pharmaceutical Group Co. Ltd. (b) | 20,366,982 | 32,905,150 | |
Innovent Biologics, Inc. (a)(b) | 8,096,862 | 35,921,915 | |
JD Health International, Inc. (a)(b) | 1,748,058 | 12,619,173 | |
JD.com, Inc. Class A | 5,888,397 | 121,910,945 | |
Jiumaojiu International Holdings Ltd. (b) | 3,178,937 | 6,212,030 | |
KE Holdings, Inc. ADR (a) | 2,521,200 | 43,919,304 | |
Kingdee International Software Group Co. Ltd. (a) | 4,210,000 | 7,319,955 | |
Kunlun Energy Co. Ltd. | 58,634,000 | 47,740,822 | |
Kweichow Moutai Co. Ltd. (A Shares) | 428,110 | 112,714,216 | |
Lenovo Group Ltd. | 51,128,000 | 58,608,819 | |
Li Auto, Inc.: | |||
ADR (a)(c) | 4,126,503 | 176,614,328 | |
Class A (a) | 520,690 | 11,177,672 | |
Li Ning Co. Ltd. | 14,274,364 | 86,024,325 | |
Longfor Properties Co. Ltd. (b) | 2,636,435 | 7,014,582 | |
Medlive Technology Co. Ltd. (b) | 8,437,735 | 7,108,172 | |
Meituan Class B (a)(b) | 20,258,194 | 386,731,341 | |
NetEase, Inc. ADR | 849,793 | 92,406,491 | |
New Oriental Education & Technology Group, Inc. (a) | 1,197,100 | 6,819,309 | |
New Oriental Education & Technology Group, Inc. sponsored ADR (a) | 1,780,308 | 99,928,688 | |
PDD Holdings, Inc. ADR (a) | 3,533,107 | 317,343,671 | |
Ping An Insurance Group Co. of China Ltd. (H Shares) | 46,314,000 | 337,478,193 | |
Proya Cosmetics Co. Ltd. (A Shares) | 6,573,622 | 103,857,485 | |
Shangri-La Asia Ltd. (a) | 16,316,000 | 13,556,743 | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares) | 1,626,739 | 67,412,603 | |
Sinopec Engineering Group Co. Ltd. (H Shares) | 51,959,687 | 23,385,157 | |
Sinopharm Group Co. Ltd. (H Shares) | 10,756,000 | 33,720,679 | |
Sinotruk Hong Kong Ltd. | 17,078,661 | 35,738,854 | |
Sunny Optical Technology Group Co. Ltd. | 2,923,834 | 28,323,951 | |
TAL Education Group ADR (a) | 1,217,600 | 9,959,968 | |
Tencent Holdings Ltd. | 19,918,650 | 915,484,112 | |
Tongdao Liepin Group (a) | 7,244,469 | 8,759,613 | |
TravelSky Technology Ltd. (H Shares) | 23,671,000 | 45,224,057 | |
Trip.com Group Ltd. ADR (a)(c) | 4,307,977 | 176,799,376 | |
Tsingtao Brewery Co. Ltd. (H Shares) | 11,249,384 | 100,826,006 | |
Uni-President China Holdings Ltd. | 39,923,000 | 34,451,242 | |
Venus MedTech Hangzhou, Inc. (H Shares) (a)(b) | 5,895,487 | 5,480,552 | |
WuXi AppTec Co. Ltd. (H Shares) (b) | 2,878,304 | 27,144,759 | |
Wuxi Biologics (Cayman), Inc. (a)(b) | 17,316,087 | 97,916,301 | |
Xinyi Solar Holdings Ltd. | 44,657,837 | 48,099,839 | |
XPeng, Inc.: | |||
ADR (a)(c) | 3,382,900 | 70,770,268 | |
Class A (a) | 704,300 | 7,512,722 | |
Zai Lab Ltd. (a) | 11,562,402 | 35,357,791 | |
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) | 14,969,200 | 59,501,366 | |
TOTAL CHINA | 6,578,988,470 | ||
Greece - 1.0% | |||
Alpha Bank SA (a) | 86,748,700 | 155,994,310 | |
Piraeus Financial Holdings SA (a) | 21,385,247 | 80,790,940 | |
TOTAL GREECE | 236,785,250 | ||
Hong Kong - 1.0% | |||
ASMPT Ltd. | 3,921,900 | 38,143,343 | |
Huanxi Media Group Ltd. (a) | 130,491,425 | 17,401,311 | |
Kerry Properties Ltd. | 6,340,500 | 13,658,388 | |
Prudential PLC | 11,350,214 | 157,612,837 | |
TOTAL HONG KONG | 226,815,879 | ||
Hungary - 0.2% | |||
Richter Gedeon PLC | 1,656,600 | 41,788,686 | |
India - 17.2% | |||
Apollo Hospitals Enterprise Ltd. | 1,161,200 | 73,047,302 | |
Bajaj Auto Ltd. | 875,900 | 52,522,048 | |
Bajaj Finance Ltd. | 2,140,677 | 190,024,128 | |
Bharat Electronics Ltd. | 63,059,800 | 100,217,848 | |
Bharti Airtel Ltd. | 19,598,443 | 212,070,214 | |
Coal India Ltd. | 24,266,400 | 67,644,360 | |
Divi's Laboratories Ltd. | 738,300 | 33,075,373 | |
Eicher Motors Ltd. | 1,202,500 | 49,209,798 | |
Embassy Office Parks (REIT) | 4,619,969 | 17,525,996 | |
HDFC Bank Ltd. | 26,158,297 | 525,212,214 | |
HDFC Standard Life Insurance Co. Ltd. (b) | 20,686,801 | 162,709,840 | |
Hindustan Aeronautics Ltd. | 1,342,700 | 64,677,846 | |
ICICI Bank Ltd. | 13,111,500 | 159,813,100 | |
Indraprastha Gas Ltd. | 10,446,794 | 58,826,730 | |
Infosys Ltd. | 2,409,322 | 39,881,232 | |
Infosys Ltd. sponsored ADR (c) | 15,273,888 | 254,462,974 | |
ITC Ltd. | 26,348,454 | 149,203,247 | |
Jio Financial Services Ltd. (e) | 13,185,192 | 41,981,305 | |
JK Cement Ltd. | 3,719,025 | 148,084,937 | |
Larsen & Toubro Ltd. | 5,513,844 | 179,773,171 | |
Mahanagar Gas Ltd. | 3,354,834 | 45,619,052 | |
Mankind Pharma Ltd. | 2,549,559 | 54,027,772 | |
Mankind Pharma Ltd. | 124,117 | 2,498,658 | |
Mankind Pharma Ltd. | 124,118 | 2,498,678 | |
Maruti Suzuki India Ltd. | 679,493 | 81,142,156 | |
NTPC Ltd. | 35,013,545 | 92,962,154 | |
Oberoi Realty Ltd. | 962,972 | 13,109,135 | |
One97 Communications Ltd. (a) | 5,846,281 | 56,898,873 | |
Petronet LNG Ltd. | 11,660,080 | 33,112,983 | |
Pine Labs Private Ltd. (a)(d)(e) | 9,606 | 5,132,102 | |
Power Grid Corp. of India Ltd. | 27,125,554 | 87,752,355 | |
Reliance Industries Ltd. | 13,185,192 | 408,710,490 | |
Shree Cement Ltd. | 292,168 | 85,648,140 | |
Sona Blw Precision Forgings Ltd. (b) | 6,074,643 | 42,110,335 | |
SRF Ltd. | 2,603,672 | 68,718,388 | |
Tata Motors Ltd. | 4,359,973 | 34,157,716 | |
Tata Steel Ltd. | 92,681,700 | 138,785,887 | |
Torrent Pharmaceuticals Ltd. | 1,473,872 | 35,894,267 | |
Zomato Ltd. (a) | 142,871,317 | 146,102,599 | |
TOTAL INDIA | 4,014,845,403 | ||
Indonesia - 2.4% | |||
First Resources Ltd. | 55,961,346 | 63,547,007 | |
PT Bank Central Asia Tbk | 357,942,060 | 216,592,924 | |
PT Bank Rakyat Indonesia (Persero) Tbk | 618,016,239 | 231,551,177 | |
PT Dayamitra Telekomunikasi Tbk | 54,585,700 | 2,370,931 | |
PT Sumber Alfaria Trijaya Tbk | 314,768,900 | 56,357,827 | |
TOTAL INDONESIA | 570,419,866 | ||
Korea (South) - 11.1% | |||
Coway Co. Ltd. | 1,115,110 | 35,782,104 | |
Delivery Hero AG (a)(b) | 903,125 | 40,975,565 | |
Hyundai Fire & Marine Insurance Co. Ltd. | 2,647,821 | 59,371,436 | |
Hyundai Motor Co. Ltd. | 86,749 | 13,307,144 | |
Jeisys Medical, Inc. (a)(c) | 2,090,454 | 18,275,030 | |
Kakao Corp. | 1,971,459 | 79,153,372 | |
Kakao Pay Corp. (a) | 521,458 | 20,487,424 | |
Kia Corp. | 2,217,853 | 143,549,794 | |
L&F Co. Ltd. | 64,200 | 12,938,281 | |
LG Chemical Ltd. | 102,156 | 51,808,759 | |
LG Corp. | 1,069,318 | 69,880,767 | |
NAVER Corp. | 832,898 | 147,972,831 | |
NCSOFT Corp. | 48,359 | 10,464,940 | |
POSCO | 318,286 | 159,993,077 | |
Samsung Biologics Co. Ltd. (a)(b) | 149,308 | 89,510,948 | |
Samsung Electronics Co. Ltd. | 21,446,735 | 1,171,604,188 | |
Samsung SDI Co. Ltd. | 257,972 | 134,263,673 | |
SK Hynix, Inc. | 3,466,987 | 334,835,641 | |
TOTAL KOREA (SOUTH) | 2,594,174,974 | ||
Mauritius - 0.0% | |||
Jumo World Ltd. (a)(e) | 2,021 | 1,810,675 | |
Mexico - 3.5% | |||
CEMEX S.A.B. de CV sponsored ADR (a) | 23,237,300 | 177,068,226 | |
Corporacion Inmobiliaria Vesta S.A.B. de CV | 10,946,871 | 39,714,686 | |
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B | 4,612,300 | 87,880,222 | |
Grupo Aeroportuario del Sureste S.A.B. de CV Series B sponsored ADR | 272,447 | 77,099,777 | |
Grupo Aeroportuario Norte S.A.B. de CV | 4,411,100 | 49,735,185 | |
Grupo Financiero Banorte S.A.B. de CV Series O | 27,707,378 | 262,612,001 | |
Wal-Mart de Mexico SA de CV Series V | 28,330,400 | 117,940,411 | |
TOTAL MEXICO | 812,050,508 | ||
Netherlands - 0.1% | |||
CTP BV (b) | 878,177 | 12,050,134 | |
Panama - 0.2% | |||
Copa Holdings SA Class A (c) | 491,975 | 58,062,890 | |
Peru - 0.5% | |||
Credicorp Ltd. (United States) | 736,922 | 115,733,600 | |
Philippines - 0.3% | |||
Ayala Land, Inc. | 54,350,524 | 27,115,884 | |
SM Investments Corp. | 2,454,000 | 40,751,056 | |
SM Prime Holdings, Inc. | 20,721,800 | 12,602,114 | |
TOTAL PHILIPPINES | 80,469,054 | ||
Poland - 0.7% | |||
CD Projekt RED SA (c) | 1,318,324 | 53,761,119 | |
Dino Polska SA (a)(b) | 890,200 | 99,183,968 | |
TOTAL POLAND | 152,945,087 | ||
Romania - 0.1% | |||
Societatea de Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA | 474,500 | 11,864,086 | |
Russia - 0.9% | |||
Fix Price Group Ltd. GDR (Reg. S) (a)(e) | 5,084,349 | 1,877,803 | |
Gazprom OAO sponsored ADR (Reg. S) (a)(e) | 10,986,900 | 2,509,847 | |
LSR Group OJSC (e) | 98,230 | 100,211 | |
LUKOIL PJSC sponsored ADR (a)(e) | 2,479,000 | 701,284 | |
Novatek PJSC GDR (Reg. S) (a)(e) | 648,900 | 28,551,600 | |
Sberbank of Russia (e) | 12,899,053 | 80,431 | |
Sberbank of Russia sponsored ADR (a)(e) | 19,633,994 | 349,485 | |
Severstal PAO GDR (Reg. S) (a)(e) | 6,035,400 | 142,496 | |
TCS Group Holding PLC GDR (a)(e) | 4,004,379 | 35,879,236 | |
X5 Retail Group NV GDR (Reg. S) (a)(e) | 6,393,700 | 55,430,822 | |
Yandex NV Series A (a)(c)(e) | 6,229,522 | 74,754,264 | |
TOTAL RUSSIA | 200,377,479 | ||
Saudi Arabia - 2.9% | |||
Al Rajhi Bank | 8,753,315 | 174,058,348 | |
Alinma Bank | 14,228,100 | 140,324,048 | |
Bupa Arabia for Cooperative Insurance Co. | 2,544,832 | 117,080,180 | |
Saudi Arabian Oil Co. (b) | 2,776,300 | 23,977,002 | |
The Saudi National Bank | 21,370,816 | 219,598,293 | |
TOTAL SAUDI ARABIA | 675,037,871 | ||
Singapore - 1.1% | |||
Sea Ltd. ADR (a) | 3,854,818 | 256,422,493 | |
South Africa - 2.8% | |||
Capitec Bank Holdings Ltd. | 1,733,561 | 173,844,168 | |
Discovery Ltd. (a) | 15,291,351 | 135,088,029 | |
Impala Platinum Holdings Ltd. | 19,449,702 | 140,486,577 | |
Naspers Ltd. Class N | 528,201 | 103,784,590 | |
Pick 'n Pay Stores Ltd. (c) | 22,801,884 | 49,074,971 | |
Shoprite Holdings Ltd. | 4,029,639 | 58,223,735 | |
TOTAL SOUTH AFRICA | 660,502,070 | ||
Switzerland - 0.1% | |||
Glodon Co. Ltd. (UBS AG London Branch Bank Warrant Programme) Class A warrants 2/6/25 (a)(b) | 6,462,000 | 29,221,422 | |
Taiwan - 11.9% | |||
Alchip Technologies Ltd. | 721,000 | 45,569,142 | |
ASE Technology Holding Co. Ltd. | 4,823,000 | 17,619,218 | |
ASUSTeK Computer, Inc. | 3,542,000 | 40,947,977 | |
BizLink Holding, Inc. | 5,120,327 | 49,193,258 | |
Chailease Holding Co. Ltd. | 28,735,338 | 189,828,822 | |
Chroma ATE, Inc. | 3,042,000 | 26,665,566 | |
Delta Electronics, Inc. | 1,498,000 | 17,389,284 | |
eMemory Technology, Inc. | 852,703 | 50,237,060 | |
Formosa Plastics Corp. | 30,606,000 | 80,874,649 | |
Global Unichip Corp. | 295,000 | 15,318,713 | |
Inventec Corp. | 6,620,000 | 13,393,064 | |
King Yuan Electronics Co. Ltd. | 15,202,000 | 30,417,519 | |
Quanta Computer, Inc. | 14,321,972 | 108,486,004 | |
Realtek Semiconductor Corp. | 860,000 | 11,758,559 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 100,121,533 | 1,804,538,472 | |
Uni-President Enterprises Corp. | 38,398,000 | 91,830,318 | |
Unimicron Technology Corp. | 4,594,000 | 26,919,679 | |
Wistron Corp. | 16,232,085 | 72,947,978 | |
Wiwynn Corp. | 1,579,530 | 89,295,668 | |
TOTAL TAIWAN | 2,783,230,950 | ||
Tanzania - 0.0% | |||
Helios Towers PLC (a) | 9,208,600 | 10,689,251 | |
Thailand - 0.6% | |||
Carabao Group PCL (For. Reg.) | 25,105,000 | 53,457,888 | |
Land & House PCL (For. Reg.) | 38,206,100 | 9,505,396 | |
PTT Global Chemical PCL (For. Reg.) | 67,260,800 | 77,763,840 | |
Supalai PCL (For. Reg.) | 13,722,800 | 8,515,245 | |
TOTAL THAILAND | 149,242,369 | ||
United States of America - 1.6% | |||
FirstCash Holdings, Inc. | 1,608,454 | 153,253,497 | |
Globant SA (a)(c) | 206,690 | 36,114,944 | |
Legend Biotech Corp. ADR (a) | 407,900 | 30,804,608 | |
Tenaris SA sponsored ADR | 1,787,500 | 59,863,375 | |
Titan Cement International Trading SA (f) | 4,984,594 | 104,788,328 | |
TOTAL UNITED STATES OF AMERICA | 384,824,752 | ||
TOTAL COMMON STOCKS (Cost $18,802,398,461) | 22,660,588,342 | ||
Preferred Stocks - 3.4% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.6% | |||
China - 0.4% | |||
ByteDance Ltd. Series E1 (a)(d)(e) | 399,541 | 95,789,955 | |
dMed Biopharmaceutical Co. Ltd. Series C (a)(d)(e) | 769,712 | 6,026,845 | |
101,816,800 | |||
India - 0.2% | |||
Meesho Series F (a)(d)(e) | 431,274 | 34,118,086 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 135,934,886 | ||
Nonconvertible Preferred Stocks - 2.8% | |||
Brazil - 2.0% | |||
Companhia de Transmissao de Energia Eletrica Paulista (PN) | 6,327,700 | 33,587,157 | |
Metalurgica Gerdau SA (PN) | 49,659,022 | 144,395,782 | |
Petroleo Brasileiro SA - Petrobras: | |||
(PN) sponsored ADR (non-vtg.) (c) | 11,361,900 | 149,977,080 | |
sponsored ADR | 9,658,635 | 141,788,762 | |
469,748,781 | |||
India - 0.1% | |||
Pine Labs Private Ltd.: | |||
Series 1 (a)(d)(e) | 22,959 | 12,266,075 | |
Series A (a)(d)(e) | 5,737 | 3,065,050 | |
Series B (a)(d)(e) | 6,242 | 3,334,851 | |
Series B2 (a)(d)(e) | 5,049 | 2,697,479 | |
Series C (a)(d)(e) | 9,391 | 5,017,236 | |
Series C1 (a)(d)(e) | 1,978 | 1,056,766 | |
Series D (a)(d)(e) | 2,116 | 1,130,494 | |
28,567,951 | |||
Korea (South) - 0.6% | |||
Hyundai Motor Co. Ltd. Series 2 | 901,059 | 76,444,601 | |
Samsung Electronics Co. Ltd. | 1,531,595 | 68,805,022 | |
145,249,623 | |||
United States of America - 0.1% | |||
Gupshup, Inc. (a)(d)(e) | 566,129 | 6,448,209 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 650,014,564 | ||
TOTAL PREFERRED STOCKS (Cost $514,575,735) | 785,949,450 | ||
Convertible Bonds - 0.1% | |||
Principal Amount (g) | Value ($) | ||
Brazil - 0.1% | |||
Creditas Financial Solutions Ltd. 5% 7/28/27 (d)(e) (Cost $33,309,389) | 33,309,389 | 33,309,389 | |
Government Obligations - 0.0% | |||
Principal Amount (g) | Value ($) | ||
United States of America - 0.0% | |||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.32% 8/31/23 (Cost $8,074,681) | 8,110,000 | 8,074,478 | |
Money Market Funds - 2.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.32% (h) | 192,313,739 | 192,352,202 | |
Fidelity Securities Lending Cash Central Fund 5.32% (h)(i) | 289,962,279 | 289,991,275 | |
TOTAL MONEY MARKET FUNDS (Cost $482,339,127) | 482,343,477 | ||
TOTAL INVESTMENT IN SECURITIES - 102.4% (Cost $19,840,697,393) | 23,970,265,136 |
NET OTHER ASSETS (LIABILITIES) - (2.4)% | (563,582,389) |
NET ASSETS - 100.0% | 23,406,682,747 |
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 $1,243,452,341 or 5.3% of net assets. |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $226,991,448 or 1.0% of net assets. |
(e) | Level 3 security |
(f) | Affiliated company |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(i) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Ant International Co. Ltd. Class C | 5/16/18 | 35,678,747 |
ByteDance Ltd. Series E1 | 11/18/20 | 43,779,377 |
Creditas Financial Solutions Ltd. 5% 7/28/27 | 7/28/23 | 33,309,389 |
dMed Biopharmaceutical Co. Ltd. Series C | 12/01/20 | 10,932,333 |
Gupshup, Inc. | 6/08/21 | 12,944,653 |
Meesho Series F | 9/21/21 | 33,066,770 |
Pine Labs Private Ltd. | 6/30/21 | 3,581,693 |
Pine Labs Private Ltd. Series 1 | 6/30/21 | 8,560,493 |
Pine Labs Private Ltd. Series A | 6/30/21 | 2,139,098 |
Pine Labs Private Ltd. Series B | 6/30/21 | 2,327,392 |
Pine Labs Private Ltd. Series B2 | 6/30/21 | 1,882,570 |
Pine Labs Private Ltd. Series C | 6/30/21 | 3,501,528 |
Pine Labs Private Ltd. Series C1 | 6/30/21 | 737,517 |
Pine Labs Private Ltd. Series D | 6/30/21 | 788,972 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.32% | 723,008,581 | 9,635,650,907 | 10,166,307,286 | 14,181,754 | 14,130 | (14,130) | 192,352,202 | 0.5% |
Fidelity Securities Lending Cash Central Fund 5.32% | 429,041,537 | 3,740,641,448 | 3,879,691,710 | 3,445,639 | - | - | 289,991,275 | 1.0% |
Total | 1,152,050,118 | 13,376,292,355 | 14,045,998,996 | 17,627,393 | 14,130 | (14,130) | 482,343,477 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
JK Cement Ltd. | 153,502,664 | - | 34,869,922 | - | 4,679,398 | 24,772,798 | - |
LOG Commercial Properties e Participacoes SA | 24,979,870 | 1,289,316 | 10,615,274 | 728,098 | (3,729,141) | 3,722,406 | - |
Pick 'n Pay Stores Ltd. | 119,922,945 | 287,923 | 35,437,696 | 2,204,172 | (29,290,770) | (6,407,430) | - |
Titan Cement International Trading SA | 65,636,709 | - | 16,601,267 | 3,486,363 | (7,289,940) | 63,042,826 | 104,788,328 |
Zai Lab Ltd. | 25,948,841 | 3,264,891 | 4,020,519 | - | (8,816,264) | 18,980,842 | - |
Zai Lab Ltd. ADR | 1,098,404 | - | 1,681,573 | - | (196,203) | 779,372 | - |
Total | 391,089,433 | 4,842,130 | 103,226,251 | 6,418,633 | (44,642,920) | 104,890,814 | 104,788,328 |
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.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Convertible Bonds and Government Obligations are valued by pricing services 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 services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
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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