Fidelity® Series Select International Small Cap Fund
July 31, 2024
SSI-NPRT3-0924
1.9906202.101
Common Stocks - 97.5%
Shares
Value ($)
Australia - 7.7%
ALS Ltd.
1,016
10,259
Amotiv Ltd.
1,090
7,705
Ansell Ltd.
358
6,408
Aurizon Holdings Ltd.
2,153
5,238
Beach Energy Ltd.
6,020
5,866
CAR Group Ltd.
391
8,911
Challenger Ltd.
953
4,387
Evolution Mining Ltd.
2,578
6,626
Flight Centre Travel Group Ltd.
423
6,144
Imdex Ltd.
3,448
5,164
Incitec Pivot Ltd.
2,876
5,548
National Storage REIT unit
4,889
7,897
NIB Holdings Ltd.
1,232
6,067
Steadfast Group Ltd.
2,981
12,652
Treasury Wine Estates Ltd.
652
5,266
TOTAL AUSTRALIA
104,138
Austria - 1.4%
AT&S Austria Technologie & Systemtechnik AG
127
2,709
Schoeller-Bleckmann Oilfield Equipment AG
107
4,250
Wienerberger AG
268
9,502
Zumtobel AG
440
2,705
TOTAL AUSTRIA
19,166
Bailiwick of Jersey - 0.7%
JTC PLC (a)
725
9,805
Belgium - 1.3%
Azelis Group NV
277
5,246
Econocom Group SA
2,021
4,331
Fagron NV
406
8,366
TOTAL BELGIUM
17,943
Finland - 1.3%
Fortum Corp.
410
6,296
Huhtamaki Oyj
173
7,014
Kemira Oyj
200
4,524
TOTAL FINLAND
17,834
France - 5.7%
Altarea SCA
44
4,757
Alten SA
56
6,170
Elis SA
300
6,942
Euroapi SASU (b)
363
1,463
Exclusive Networks SA (b)
214
5,385
Ipsos SA
117
7,237
Nexans SA
35
4,530
Rexel SA
413
10,513
SEB SA
40
4,006
Ubisoft Entertainment SA (b)
200
4,111
Vallourec SA (b)
514
8,333
Vicat SA
127
4,419
Virbac SA
23
8,762
TOTAL FRANCE
76,628
Germany - 3.9%
Bilfinger Berger AG
141
7,920
Gerresheimer AG
65
6,736
Lanxess AG
140
3,664
Mensch und Maschine Software SE
82
5,334
Patrizia Immobilien AG
474
3,740
PVA TePla AG (b)
189
2,958
SAF-Holland SA
523
10,709
Stabilus Se
146
7,150
Takkt AG
390
4,516
TOTAL GERMANY
52,727
Hong Kong - 1.7%
ASMPT Ltd.
569
5,936
Fortune (REIT)
3,496
1,674
Hysan Development Co. Ltd.
2,024
2,772
Luk Fook Holdings International Ltd.
2,386
4,691
Melco International Development Ltd. (b)
3,000
1,762
Pacific Basin Shipping Ltd.
18,000
5,414
TOTAL HONG KONG
22,249
Ireland - 1.6%
Bank of Ireland Group PLC
675
7,652
C&C Group PLC (United Kingdom)
3,868
7,956
Dalata Hotel Group PLC
1,460
6,486
TOTAL IRELAND
22,094
Israel - 1.7%
Bezeq The Israel Telecommunication Corp. Ltd.
5,830
6,600
Nova Ltd. (b)
50
10,054
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.
118
6,539
TOTAL ISRAEL
23,193
Italy - 2.3%
Banca Generali SpA
257
11,181
Banco BPM SpA
1,000
6,926
Brembo N.V.
504
5,654
Carel Industries SpA (a)
144
2,659
GVS SpA (a)(b)
739
5,103
TOTAL ITALY
31,523
Japan - 36.5%
Aeon Delight Co. Ltd.
230
6,011
Anritsu Corp.
491
4,231
As One Corp.
400
8,665
ASKUL Corp.
541
7,689
AZ-Com Maruwa Holdings, Inc.
300
2,603
Azbil Corp.
196
5,741
BayCurrent Consulting, Inc.
230
6,978
Cosmos Pharmaceutical Corp.
71
6,358
Daido Steel Co. Ltd.
750
7,562
Daihatsu Diesel Manufacturing Co. Ltd.
400
4,801
Daiichikosho Co. Ltd.
506
6,156
Daiwa Securities Living Invest
8
5,442
Dexerials Corp.
170
8,317
Dowa Holdings Co. Ltd.
182
6,679
FP Corp.
291
5,039
Fujitec Co. Ltd.
230
6,717
Fukushima Galilei Co. Ltd.
180
8,159
Funai Soken Holdings, Inc.
330
4,842
Fuyo General Lease Co. Ltd.
110
9,061
H.U. Group Holdings, Inc.
200
3,522
Haseko Corp.
668
8,336
Hosokawa Micron Corp.
180
4,914
Inaba Denki Sangyo Co. Ltd.
400
10,574
J. Front Retailing Co. Ltd.
392
4,748
JTOWER, Inc. (b)
135
1,464
Kamigumi Co. Ltd.
398
9,139
Kaneka Corp.
248
7,079
Kawasaki Heavy Industries Ltd.
190
6,971
Kissei Pharmaceutical Co. Ltd.
235
5,483
Koshidaka Holdings Co. Ltd.
950
6,418
Kyoritsu Maintenance Co. Ltd.
346
6,750
Kyoto Financial Group, Inc.
576
10,920
Kyushu Railway Co.
310
8,319
Maruwa Ceramic Co. Ltd.
42
11,383
Milbon Co. Ltd.
182
4,064
Mitsubishi Logisnext Co. Ltd.
900
8,026
Miura Co. Ltd.
250
5,826
Money Forward, Inc. (b)
100
3,303
Morinaga & Co. Ltd.
444
8,574
Nabtesco Corp.
291
5,780
Nagaileben Co. Ltd.
290
5,231
Net One Systems Co. Ltd.
138
2,788
Nextage Co. Ltd.
400
5,426
Nikkiso Co. Ltd.
978
7,821
Nippon Gas Co. Ltd.
413
6,477
Okinawa Cellular Telephone Co.
299
8,044
PALTAC Corp.
222
6,866
Park24 Co. Ltd. (b)
416
4,481
Penta-Ocean Construction Co. Ltd.
908
4,056
Relo Group, Inc.
488
5,828
Resonac Holdings Corp.
325
8,068
Riken Keiki Co. Ltd.
240
7,113
Rinnai Corp.
260
6,422
Roland Corp.
186
4,855
Santen Pharmaceutical Co. Ltd.
800
9,655
Sanwa Holdings Corp.
568
12,323
Shoei Co. Ltd.
430
5,755
SOSiLA Logistics REIT, Inc.
7
5,420
Stanley Electric Co. Ltd.
358
7,128
Sumco Corp.
459
7,546
Suruga Bank Ltd.
1,588
12,710
SWCC Showa Holdings Co. Ltd.
350
10,619
Taiyo Yuden Co. Ltd.
200
6,010
Tokyo Tatemono Co. Ltd.
433
7,554
Toyo Gosei Co. Ltd.
110
6,917
Toyo Suisan Kaisha Ltd.
195
13,336
Tsumura & Co.
219
5,855
Valqua Ltd.
348
8,549
Workman Co. Ltd.
183
5,155
Yokogawa Electric Corp.
278
7,037
Zenkoku Hosho Co. Ltd.
200
8,316
Zuken, Inc.
290
7,163
TOTAL JAPAN
493,168
Netherlands - 1.3%
Eurocommercial Properties NV
356
8,861
OCI NV
140
3,371
TKH Group NV (bearer) (depositary receipt)
130
5,684
TOTAL NETHERLANDS
17,916
New Zealand - 0.7%
Contact Energy Ltd.
1,910
9,662
Norway - 2.0%
DOF Group ASA (b)
847
8,765
Schibsted ASA (A Shares)
210
6,036
Sparebanken Midt-Norge
500
7,463
TGS ASA
389
4,767
TOTAL NORWAY
27,031
Singapore - 1.3%
CDL Hospitality Trusts unit
8,532
6,159
Mapletree Industrial (REIT)
3,885
6,714
Wing Tai Holdings Ltd.
4,256
4,330
TOTAL SINGAPORE
17,203
Spain - 2.4%
Bankinter SA
1,087
9,279
Cie Automotive SA
179
5,231
Compania de Distribucion Integral Logista Holdings SA
317
9,373
Fluidra SA
360
8,018
TOTAL SPAIN
31,901
Sweden - 6.1%
AAK AB
410
11,792
AddTech AB (B Shares)
341
10,985
Arjo AB
1,090
4,222
Avanza Bank Holding AB
310
6,939
Granges AB
500
6,102
Hemnet Group AB
308
11,383
HEXPOL AB (B Shares)
715
7,992
JM AB (B Shares)
300
5,832
Loomis AB
210
6,687
Munters Group AB (a)
455
9,840
TOTAL SWEDEN
81,774
Switzerland - 3.4%
Bucher Industries AG
16
6,489
Lastminute.com NV
155
3,002
OC Oerlikon Corp. AG (Reg.)
793
4,468
PSP Swiss Property AG
57
7,624
Sensirion Holding AG (a)(b)
25
2,347
Tecan Group AG
18
6,710
VZ Holding AG
109
14,728
TOTAL SWITZERLAND
45,368
United Kingdom - 14.5%
B&M European Value Retail SA
1,566
9,424
Britvic PLC
699
11,403
DCC PLC (United Kingdom)
110
7,580
Elementis PLC
1,300
2,671
Grainger Trust PLC
2,272
7,039
Harbour Energy PLC
1,109
4,470
Hill & Smith Holdings PLC
344
10,171
Inchcape PLC
797
8,637
J.D. Wetherspoon PLC (b)
807
7,744
Jet2 PLC
516
9,419
John Wood Group PLC (b)
2,800
7,343
Lancashire Holdings Ltd.
1,723
14,043
Mitie Group PLC
7,896
12,303
Pets At Home Group PLC
1,177
4,642
Renewi PLC
612
5,303
RS GROUP PLC
500
5,258
Sabre Insurance Group PLC (a)
5,571
11,344
Savills PLC
600
9,842
Senior Engineering Group PLC
3,931
8,268
Spectris PLC
192
7,499
Unite Group PLC
823
10,083
Vistry Group PLC (b)
864
15,366
WH Smith PLC
401
6,805
TOTAL UNITED KINGDOM
196,657
TOTAL COMMON STOCKS
(Cost $1,071,177)
1,317,980
Nonconvertible Preferred Stocks - 0.4%
Shares
Value ($)
Germany - 0.4%
Jungheinrich AG
(Cost $5,082)
201
6,374
TOTAL INVESTMENT IN SECURITIES - 97.9%
(Cost $1,076,259)
1,324,354
NET OTHER ASSETS (LIABILITIES) - 2.1%
27,754
NET ASSETS - 100.0%
1,352,108
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 $41,098 or 3.0% of net assets.
(b)
Non-income producing
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.
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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